Van Andel Institute
- Assets
- $2.0b
- Revenue
- $171.8m
- Investments
- $1.0b
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 08/1997
- Data as of
- 11/2023
- EIN
- 52-2000820
Organization Overview
Van Andel Institute is located in Grand Rapids, MI. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Van Andel Institute 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 11/2023, Van Andel Institute generated $171.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $306.2m during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION TO THE VAN ANDEL RESEARCH INSTITUTE AND VAN ANDEL EDUCATION INSTITUTE.TYPE III- FUNCTIONALLY INTEGRATED SUPPORTING ORGANIZATION OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE VAN ANDEL RESEARCH INSTITUTE AND THE VAN ANDEL EDUCATION INSTITUTE.
Describe the Organization's Program Activity:
TO OPERATE FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE VAN ANDEL EDUCATION INSTITUTE (VAEI), WHICH INCLUDES THE VAN ANDEL INSTITUTE GRADUATE SCHOOL (VAIGS) AND SCIENCE ACADEMY. VAIGS PREPARES BIOMEDICAL RESEARCH SCHOLARS THROUGH A GRADUATE PROGRAM IN CELL AND MOLECULAR GENETICS. THE SCIENCE ACADEMY PROGRAMS CREATE A UNIQUE SETTING FOR STUDENTS, K-12, ENCOURAGING AND ENABLING THEM TO EXPLORE, QUESTION, AND INVESTIGATE AS SCIENTISTS DO.
TO OPERATE FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE VAN ANDEL RESEARCH INSTITUTE (VARI), A MEDICAL RESEARCH ORGANIZATION. VARI CONDUCTS BIOMEDICAL RESEARCH, FOCUSING ON CANCER, EPIGENETICS AND PARKINSON'S DISEASE WITH AN EMPHASIS ON TRANSLATING SCIENTIFIC RESEARCH RESULTS INTO CLINICAL APPLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Van Andel Chairman / CEO | OfficerTrustee | 10 | $0 |
John Kennedy Trustee | Trustee | 1 | $0 |
Mark Meijer Trustee | Trustee | 1 | $0 |
Constance Chang Beg 5152023 Trustee | Trustee | 1 | $0 |
Timothy Myers Chief Financial Officer | Officer | 1 | $0 |
Dr Jana Hall Chief Operations Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Northern Trust Company Investment Management | 11/29/23 | $963,836 |
Lord Abbett Investment Management | 11/29/23 | $539,368 |
Rockpoint Fund Vi Investment Management | 11/29/23 | $428,541 |
Donald Smith Investment Management | 11/29/23 | $393,796 |
Md Sass Llc Investment Management | 11/29/23 | $309,859 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,235,828 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,124,137 |
| Noncash contributions included in lines 1a–1f | $51,162,069 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,359,965 |
| Total Program Service Revenue | $0 |
| Investment income | $30,184,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $134,286 |
| Net Gain/Loss on Asset Sales | $30,592,881 |
| Net Income from Fundraising Events | -$484,493 |
| Net Income from Gaming Activities | $34,915 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $171,827,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $290,988,037 |
| 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. | $8,500 |
| Compensation of current officers, directors, key employees. | $8,500 |
| 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 | $12,134 |
| Fees for services: Accounting | $179,149 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,156,552 |
| Fees for services: Other | $126,886 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,005 |
| 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 | $161,054 |
| Insurance | $0 |
| All other expenses | $5,450 |
| Total functional expenses | $306,179,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8 |
| Savings and temporary cash investments | $342,563,944 |
| Pledges and grants receivable | $78,846 |
| Accounts receivable, net | $5,159,736 |
| 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 | $10,573,134 |
| Investments—publicly traded securities | $618,353,125 |
| Investments—other securities | $1,040,121,380 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $832,340 |
| Total assets | $2,017,682,513 |
| Accounts payable and accrued expenses | $9,290,813 |
| Grants payable | $0 |
| Deferred revenue | $3,300 |
| 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 | $9,294,113 |
| Net assets without donor restrictions | $1,239,495,010 |
| Net assets with donor restrictions | $768,893,390 |
| 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 | $2,017,682,513 |
Grants Awarded
Over the last fiscal year, Van Andel Institute has awarded $290,988,037 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VAN ANDEL EDUCATION INSTITUTE PURPOSE: SUPPORT FOR VAEI OPERATING EXPENSES. | $4,691,744 |
VAN ANDEL RESEARCH INSTITUTE PURPOSE: SUPPORT FOR VARI OPERATING EXPENSES. | $286,296,293 |