University Of Tennessee West Institute For Cancer Research
- Assets
- $5.0m
- Revenue
- $289.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 09/2014
- Data as of
- 12/2022
- EIN
- 47-1358542
Organization Overview
University Of Tennessee West Institute For Cancer Research is located in Memphis, TN. The organization was established in 2014. According to its NTEE Classification (G30) the organization is classified as: Cancer, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Tennessee West Institute For Cancer Research 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 12/2022, University Of Tennessee West Institute For Cancer Research generated $289.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (31.7%) each year. All expenses for the organization totaled $229.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE UNIVERSITY OF TENNESSEE/WEST INSTITUTE FOR CANCER RESEARCH (THE "INSTITUTE") IS TO INVEST IN DISCOVERY, INNOVATION AND ADVANCEMENT IN THE FIELD OF ADULT CANCER RESEARCH AND PATIENT EDUCATION, CARE AND SUPPORT AND TO ENSURE THAT ALL ADULT CANCER PATIENTS HAVE ACCESS TO THE MOST INNOVATIVE RESEARCH AND EFFECTIVE THERAPIES TO DEFEAT CANCER IN ITS ENTIRETY WHILE RESPECTING INDIVIDUAL QUALITY OF LIFE. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNIVERSITY OF TENNESSEE/WEST INSTITUTE FOR CANCER RESEARCH WAS FULLY DEDICATED TO RAISING FUNDS FOR ADULT CANCER RESEARCH IN MEMPHIS, TENNESSEE. THE PLAN WAS TO BROADEN CUTTING-EDGE RESEARCH PROGRAMS AND TO STRENGTHEN THE ABILITY TO PROVIDE THE BEST POSSIBLE CANCER TREATMENT AND SUPPORTIVE SERVICES TO PATIENTS. AS DISCLOSED IN SCHEDULE O, THE ORGANIZATION APPROVED A PLAN OF DISSOLUTION ON OCTOBER 14, 2020. ACCORDINGLY, DURING 2022 THERE WERE NO PROGRAM EXPENSES INCURRED. THE ORGANIZATION DID NOT SOLICIT NOR ACCEPT ANY CONTRIBUTIONS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Ugwueke President | OfficerTrustee | 1 | $0 |
Dr Neil Hayes Director | Trustee | 1 | $0 |
Dr Scott Strome Director | Trustee | 1 | $0 |
Dr Kathleen Forbes Director | Trustee | 1 | $0 |
Dr David Shibata Director | Trustee | 1 | $0 |
Dr Bradley Somer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
King & Spalding Llp Legal Services | 12/30/20 | $468,513 |
Henderson Hutcherson & Mccullough Pllc Accounting Services | 12/30/20 | $131,141 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $130,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $159,214 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $289,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111,746 |
| Fees for services: Accounting | $72,428 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,331 |
| Fees for services: Other | $6,085 |
| Advertising and promotion | $0 |
| Office expenses | $438 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $229,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,231 |
| Savings and temporary cash investments | $3,494,711 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,371,857 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,970,799 |
| Accounts payable and accrued expenses | $8,825 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,825 |
| Net assets without donor restrictions | $4,203,167 |
| Net assets with donor restrictions | $758,807 |
| 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 | $4,970,799 |