Additional Ventures Foundation
- Assets
- $180.9m
- Revenue
- $19.6m
- Investments
- $175.5m
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 07/2018
- Data as of
- 12/2022
- EIN
- 81-4429034
Organization Overview
Additional Ventures Foundation is located in Palo Alto, CA. The organization was established in 2018. 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. Additional Ventures Foundation 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, Additional Ventures Foundation generated $19.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $10.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Additional Ventures Foundation has awarded 172 individual grants totaling $56,257,554. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
PROJECT SINGULAR - ADDITIONAL VENTURES IS INVESTING IN BUILDING A GENOMICS REGISTRY FOR SINGLE VENTRICLE PATIENTS AND THEIR FAMILIES IN THE UNITED STATES IN ORDER TO UNDERSTAND THE GENETIC CAUSES OF SINGLE VENTRICLE HEART DISEASE AS WELL AS THE GENETIC CONTRIBUTORS TO THE MANY ASSOCIATED CO-MORBIDITIES. AT LEAST 5,000 SINGLE VENTRICLE PATIENTS AND THEIR IMMEDIATE FAMILY MEMBERS (PARENTS AND SIBLINGS) WILL BE RECRUITED AND CONSENTED VIRTUALLY WITH DNA SEQUENCING KITS MAILED TO THEIR HOMES AS WELL AS CONSENTED AND THEIR DNA COLLECTED IN CARDIAC CLINICS. WHOLE GENOME SEQUENCING WILL BE CONDUCTED WITH PARTICIPANTS' SAMPLES. THE DEIDENTIFIED DATASET WILL BE MADE AVAILABLE FOR FREE TO ALL QUALIFIED RESEARCHERS WORLDWIDE, FUELING NOT JUST ONE RESEARCH STUDY BUT MANY. IN 2022, ADDITIONAL VENTURES BEGAN THE REGISTRY BUILD, CONDUCTED A SOFT LAUNCH, AND PREPARED FOR FULL LAUNCH IN 2024.
SINGLE VENTRICLE INVESTIGATORS MEETING - ADDITIONAL VENTURES HELD ITS SECOND ANNUAL AND FIRST IN-PERSON SINGLE VENTRICLE INVESTIGATORS MEETING (SVIM) OCTOBER 7-9, 2022 WITH MORE THAN 170 ATTENDEES, 50 PLUS PLENARY SESSIONS, 40 PLUS POSTER PRESENTATIONS AND 16 PLUS BREAKOUT SESSIONS. THIS WAS THE LARGEST EVENT OF ITS KIND FOR THE SINGLE VENTRICLE RESEARCH COMMUNITY, FEATURING MORE THAN 120 SPEAKERS ACROSS MULTIPLE DISCIPLINES INCLUDING BASIC SCIENCE, CLINICAL CARE, ENGINEERING, AND TRANSLATIONAL MEDICINE. PRESENTATIONS ADDRESSED THE FOLLOWING AREAS OF SINGLE VENTRICLE RESEARCH: UNDERSTANDING SINGLE VENTRICLE ETIOLOGY, DEFINING BIOLOGICAL MECHANISMS OF OUTCOMES, ADDRESSING COMPLICATIONS AND COMORBIDITIES, DEVELOPING FUNCTIONAL CURES, DEVELOPING FUNCTIONAL CURES, AND OPTIMIZING TRANSPLANT OUTCOMES.
SINGLE VENTRICLE SPEAKER SERIES - RESPONDING TO A NEED TO PROVIDE A FORUM FOR SINGLE VENTRICLE FOCUSED INVESTIGATORS ACROSS BASIC SCIENCE, TISSUE ENGINEERING, CLINICAL CARE, AND GENOMICS, ADDITIONAL VENTURES CONDUCTS A BIWEEKLY VIRTUAL SEMINAR SERIES OVER 6 MONTHS OF THE YEAR. EACH SESSION ADDRESSES ONGOING RESEARCH EFFORTS IN KEY KNOWLEDGE GAP AREAS IDENTIFIED IN THE ORGANIZATION'S RESEARCH ROADMAP, WITH PRESENTERS SPANNING EARLY CAREER TO SENIOR INVESTIGATORS, AND TOPICS INCLUDING SINGLE VENTRICLE ETIOLOGY, BIOLOGY OF OUTCOMES, CLINICAL SEQUELAE, AND FUNCTION CURES. IN 2022, THERE WERE HUNDREDS OF MULTI-DISCIPLINARY RESEARCHERS WHO PARTICIPATED IN THE SPEAKER SERIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Hoffmann President/chairman/director | 6 | $0 | |
Michael Schroepfer Cfo/director | 1 | $0 | |
Tom Van Loben Sels Secretary | 1 | $0 | |
Kirstie Keller Vice President Of Pr | 40 | $258,710 | |
Diane Pickles Program Director | 40 | $211,725 | |
Kaitlin Davis Senior Program Manag | 40 | $124,192 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Iconiq Capital Llc | 12/30/22 | $1,001,921 |
Spectrum Science Communications Llc | 12/30/22 | $536,419 |
Smart Research Group | 12/30/22 | $134,710 |
The Broad Institute | 12/30/22 | $114,583 |
Foundation Advisors Llc | 12/30/22 | $99,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,907,530 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,800,597 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,962,638 |
| Capital Gain Net Income | $3,897,980 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,911,778 |
| Total Revenue | $19,582,543 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $972,317 |
| Pension plans, employee benefits | $231,484 |
| Interest | $0 |
| Taxes | $195,447 |
| Depreciation | $2,423 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $76,476 |
| Printing and publications | $2,981 |
| Other expenses | $541,883 |
| Total operating and administrative expenses | $4,178,131 |
| Contributions, gifts, grants paid | $6,409,646 |
| Total expenses and disbursements | $10,587,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,254,285 |
| Net Accounts receivable | $4,938 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $187,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $58,693,904 |
| Net Land, buildings, and equipment | $3,006 |
| Other assets | $0 |
| Total assets | $180,921,457 |
| Accounts payable and accrued expenses | $71,229 |
| Grants payable | $12,661,840 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $590,000 |
| Total liabilities | $13,323,069 |
Grants Awarded
Over the last fiscal year, Additional Ventures Foundation has awarded $13,842,747 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
AIX-MARSEILLE UNIVERSITY PURPOSE: WEINSTEIN CARDIOVASCULAR AND REGENERATION CONFERENCE | $45,529 |
ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $218,179 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $219,877 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: TOOLS & TECHNOLOGY EXPANSION AWARD | $50,000 |
BOSTON CHILDREN'S HOSPITAL PURPOSE: SINGLE VENTRICLE RESEARCH FUND | $219,550 |
BOSTON CHILDREN'S HOSPITAL PURPOSE: SINGLE VENTRICLE RESEARCH FUND - CAREER DEVELOPMENT AWARD | $199,838 |