Stowers Resource Management Inc
- Assets
- $2.4b
- Revenue
- $214.5m
- Investments
- $1.8b
- Employees
- 174
- Location
- Kansas City, MO
- Founding
- 12/2006
- Data as of
- 12/2021
- EIN
- 41-2186719
Organization Overview
Stowers Resource Management Inc is located in Kansas City, MO. The organization was established in 2006. According to its NTEE Classification (G11) the organization is classified as: Single Organization Support, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Stowers Resource Management Inc employed 174 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stowers Resource Management Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Stowers Resource Management Inc generated $214.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $185.4m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
STOWERS RESOURCE MANAGEMENT ("SRM") SUPPORTS THE ACTIVITIES OF STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") WHICH CONDUCTS BASIC CELL AND MOLECULAR BIOLOGY RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT - SRM MONITORS THE FINANCIAL NEEDS OF SIMR SO SIMR CAN CONDUCT ITS MEDICAL RESEARCH IN THE PUBLIC INTEREST AND MAKES CONTRIBUTIONS TO SIMR TO SUPPORT ITS MEDICAL RESEARCH ACTIVITIES. THE CONTRIBUTIONS ARE MADE AS DETERMINED BY SRM'S BOARD OF DIRECTORS AFTER REVIEW OF FINANCIAL INFORMATION, BUDGETS, STRATEGIES AND OTHER RELEVANT INFORMATION. IN 2021, SRM PROVIDED $120,000,000 TO SIMR FOR ENDOWMENT SUPPORT AND $21,000,000 TO BIOMED VALLEY CORPORATION ("BVC"), A RELATED 501(C)(3) ORGANIZATION, FOR ENDOWMENT SUPPORT.
MANAGEMENT, ADMINISTRATIVE AND OPERATION SUPPORT SERVICES - SRM PROVIDES MANAGEMENT SUPPORT TO SIMR THAT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF SIMR,OPERATIONAL PLANNING, AND THE DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS AND BUDGETS. SRM ALSO PROVIDES ADDITIONAL ADMINISTRATIVE AND OPERATIONAL SUPPORT SERVICES TO SIMR THAT INCLUDES ACCOUNTING, FINANCE, HUMAN RESOURCES, INFORMATION TECHNOLOGY, AND OTHER SUPPORT ACTIVITIES, FOR WHICH SRM ALLOCATED COSTS TO SIMR IN THE AMOUNT OF $31,014,701 IN 2021 AS REPORTED ON PART VIII STATEMENT OF REVENUE LINE 2A, WITH RELATED INFORMATION ON SCHEDULE O.
MANAGEMENT OF ENDOWMENT - SRM PARTICIPATES IN THE MANAGEMENT OF STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") TO INSURE SIMR'S FINANCIAL ABILITY TO CONTINUE ITS RESEARCH EFFORTS IN PERPETUITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard W Brown Dir/chair/pres/ceo | OfficerTrustee | 40 | $2,781,337 |
Charles German Dir As Of 1/1/2021/evp/gen Cns | OfficerTrustee | 40 | $1,038,823 |
Roderick L Sturgeon Evp/cfo Thru 5/2/2021/dir | OfficerTrustee | 20 | $965,700 |
George Satterlee Evp/human Resources | Officer | 40 | $441,618 |
Penny Spence Evp/cfo As Of 5/3/21 | Officer | 40 | $429,850 |
Patrick Mitchell Jr VP Of Human Resources | 40 | $339,239 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Century Investments Indirect - See Sch O | 12/30/21 | $1,053,417 |
Parris Communications Communication Srvcs | 12/30/21 | $451,211 |
Bryan Cave Leighton Paisner Llp Legal Services | 12/30/21 | $547,684 |
Pricewaterhousecoopers Llp Audit And Tax Srvcs | 12/30/21 | $264,599 |
Victor Aarmesto Maint.& Repair Srvcs | 12/30/21 | $259,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,355,848 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,283,575 |
| Noncash contributions included in lines 1a–1f | $3,294,848 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,639,423 |
| Total Program Service Revenue | $31,491,121 |
| Investment income | $177,885,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,354 |
| Net Gain/Loss on Asset Sales | $1,444,132 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $214,490,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $141,000,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,036,072 |
| Compensation of current officers, directors, key employees. | $543,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,100,248 |
| Pension plan accruals and contributions | $1,687,290 |
| Other employee benefits | $2,378,548 |
| Payroll taxes | $1,085,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $791,197 |
| Fees for services: Accounting | $287,476 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $948,225 |
| Fees for services: Other | $2,996,296 |
| Advertising and promotion | $42,964 |
| Office expenses | $337,497 |
| Information technology | $484,239 |
| Royalties | $0 |
| Occupancy | $3,606,374 |
| Travel | $82,701 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,827 |
| Interest | $2,866,554 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,167,750 |
| Insurance | $519,415 |
| All other expenses | $644,740 |
| Total functional expenses | $185,361,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $926,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,369,774 |
| Net Land, buildings, and equipment | $6,373,833 |
| Investments—publicly traded securities | $528,104,386 |
| Investments—other securities | $1,836,698,135 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,624,595 |
| Total assets | $2,385,097,265 |
| Accounts payable and accrued expenses | $6,798,172 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $290,000,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $893,911 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $256,684 |
| Total liabilities | $297,948,767 |
| Net assets without donor restrictions | $2,084,047,097 |
| Net assets with donor restrictions | $3,101,401 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,385,097,265 |
Grants Awarded
Over the last fiscal year, Stowers Resource Management Inc has awarded $141,000,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Kansas City, MO PURPOSE: SEE PART IV | $120,000,000 |
Kansas City, MO PURPOSE: SEE PART IV | $21,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Stowers Resource Management Inc has recieved totaling $2,355,848.
| Awarding Organization | Amount |
|---|---|
Stowers Institute For Medical Research Kansas City, MO PURPOSE: SEE PART IV | $2,355,848 |
Endowment Analysis
| Beg. Balance | $2,960,161 |
| Earnings | $273,536 |
| Net Contributions | $940,000 |
| Other Expense | $1,072,296 |
| Ending Balance | $3,101,401 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stowers Resource Management Inc Kansas City, MO | $2,385,097,265 | $214,490,886 |
Families Of Sma Elk Grove Village, IL | $11,297,459 | $15,022,219 |
St Jude Runners Association Peoria, IL | $1,016,895 | $3,093,086 |
Thompson Cancer Survival Foundation Knoxville, TN | $13,217,499 | $588,264 |
Wellness House Foundation Inc Hinsdale, IL | $11,304,864 | $442,180 |
Kansas Pediatric Foundation Shawnee, KS | $11,926,198 | $558,355 |
American Association Of Clinical Urologists Inc Mamco East Dundee, IL | $698,159 | $469,027 |
Interfaith Dental Supporting Foundation Nashville, TN | $6,997,857 | $311,030 |
American Medical Society For Sports Medicine Foundation Inc Leawood, KS | $2,438,490 | $401,048 |
Friends Of The Epilepsy Foundation Of Greater Chicago Chicago, IL | $42,031 | $369,536 |
Sherrys Hope Inc Lebanon, TN | $987,864 | $411,621 |
National Hemophilia Foundation Tulsa, OK | $201,421 | $254,768 |