Altius Institute For Biomedical Sciences
- Assets
- $26.6m
- Revenue
- $25.8m
- Investments
- $0.0
- Employees
- 156
- Location
- Seattle, WA
- Founding
- 03/2017
- Data as of
- 12/2023
- EIN
- 47-2231080
Organization Overview
Altius Institute For Biomedical Sciences is located in Seattle, WA. The organization was established in 2017. According to its NTEE Classification (H20) the organization is classified as: Birth Defects & Genetic Diseases Research, under the broad grouping of Medical Research and related organizations. As of 12/2023, Altius Institute For Biomedical Sciences employed 156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Altius Institute For Biomedical Sciences 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 12/2023, Altius Institute For Biomedical Sciences generated $25.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $36.0m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE SCIENCE OF GENE REGULATION FOR THE BENEFIT OF HUMAN HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALTIUS DIRECTLY CONDUCTS AN ACTIVE AND MULTIFACETED PROGRAM OF BASIC SCIENCE RESEARCH IN THE FIELDS OF GENETICS, GENOMICS, AND BIOTECHNOLOGY. WE CONDUCT THE MAJORITY OF RESEARCH PROGRAMS DIRECTLY IN OUR OWN LABORATORIES LOCATED IN SEATTLE, WASHINGTON, AND ALSO COLLABORATE WITH ACADEMIC RESEARCH HOSPITALS. ALTIUS AIMS TO DISCOVER, DEVELOP, AND TRANSLATE FOR CLINICAL USE BOTH DATA AND TRANSFORMATIVE TECHNOLOGIES THAT ILLUMINATE OR ENABLE THE CONTROL OF HUMAN GENES IN MEDICALLY IMPORTANT BIOLOGICAL CONTEXTS. OUR RESEARCH PROGRAMS FOCUS ON GAINING A RICHER UNDERSTANDING OF HUMAN CELLS FUNCTION IN HEALTH AND DISEASE FOR THE PURPOSE OF DEVELOPING NEW APPROACHES TO DIAGNOSIS AND THERAPY. TOWARD THESE GOALS, ALTIUS' RESEARCH PROGRAM FOCUSES ON THE DEVELOPMENT, SCALING AND TRANSLATIONAL APPLICATION OF DIVERSE TECHNOLOGY PLATFORMS, INCLUDING GENETIC AND GENOMIC ANALYSES, CELL AND GENOME ENGINEERING, SINGLE MOLECULE DNA AND CHROMATIN ANALYSIS, AND HIGH-RESOLUTION CELL IMAGING. THESE TECHNOLOGIES PROVIDE NEW WINDOWS INTO CELLULAR RESPONSES, AND THEY COLLECTIVELY OPEN NEW DOORS TO THE DISCOVERY OF NEW MEDICINES. IN RESPONSE TO THE PANDEMIC AND RELATED DISASTER DECLARATION, ALTIUS LEVERAGED ITS SCIENTIFIC EXPERTISE TO CREATE AND PROVIDE COVID-19 GENETIC TESTING SERVICES UNDER EMERGENCY CONTRACTS WITH GOVERNMENTAL AGENCIES. ALTIUS ALSO PROVIDED COVID-19 GENETIC TESTING SERVICES TO LOCAL AND NONPROFIT EDUCATIONAL ORGANIZATIONS. IN ADDITION, ALTIUS UTILIZED DATA FROM ITS GENETIC TESTING TO CONDUCT RESEARCH INTO COVID-19 EPIDEMIOLOGY AND VARIANTS IN COLLABORATION WITH GOVERNMENTAL AGENCIES AND ACADEMIC INSTITUTIONS. ALTIUS CEASED ITS COVID TESTING OPERATIONS IN MARCH 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Stamatoyannopoulos Scientific Director & Treasurer | OfficerTrustee | 40 | $885,000 |
Peter Handrinos Board Member | Trustee | 2 | $50,000 |
Harry Dietz Board Member | Trustee | 1 | $50,000 |
Erik Ingelsson Board Member | Trustee | 0.5 | $0 |
John Lepore Board Member (part Year) | Trustee | 0.5 | $0 |
Lori Tonnes Gen. Counsel & Secretary (thru 6/23) | Officer | 40 | $174,494 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clark Nuber Ps Audit, Tax & Consulting | 12/30/23 | $166,680 |
Bozicevic Field & Francis Llp Legal Consulting | 12/30/23 | $131,222 |
Keith Grochow Software Engineering | 12/30/23 | $120,650 |
Davis Wright Tremaine Llp Legal Consulting | 12/30/23 | $105,527 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,448,711 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,359,385 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,808,096 |
| Total Program Service Revenue | $189,574 |
| Investment income | $414,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $28,625 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$690,222 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,796,659 |
| 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. | $1,242,769 |
| Compensation of current officers, directors, key employees. | $308,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,075,243 |
| Pension plan accruals and contributions | $1,151,807 |
| Other employee benefits | $1,089,048 |
| Payroll taxes | $1,136,091 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $494,488 |
| Fees for services: Accounting | $259,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,141,669 |
| Advertising and promotion | $0 |
| Office expenses | $468,397 |
| Information technology | $1,978,001 |
| Royalties | $0 |
| Occupancy | $3,370,081 |
| Travel | $255,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,158 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,972,012 |
| Insurance | $138,838 |
| All other expenses | $0 |
| Total functional expenses | $35,992,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,123,185 |
| Savings and temporary cash investments | $3,040,443 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,094,073 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,647 |
| Prepaid expenses and deferred charges | $1,423,124 |
| Net Land, buildings, and equipment | $11,980,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $16,225 |
| Other assets | $7,924,967 |
| Total assets | $26,636,898 |
| Accounts payable and accrued expenses | $2,848,980 |
| 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 | $7,401,974 |
| Total liabilities | $10,250,954 |
| Net assets without donor restrictions | $16,385,944 |
| Net assets with donor restrictions | $0 |
| 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 | $26,636,898 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Altius Institute For Biomedical Sciences Seattle, WA | $26,636,898 | $25,796,659 |
Sage Research Foundation Inc Boise, ID | $1,585,420 | $7,789,723 |
Pacific Northwest Bleeding Disorders Corvallis, OR | $613,534 | $628,881 |
Fam177a1 Research Fund Mercer Island, WA | $40,887 | $0 |
Col Patrick S Madigan Md Foundation Lakewood, WA | $985,797 | $55,965 |
Biologic Institute Redmond, WA | $15,378 | $0 |