Bill & Melinda Gates Medical Research Institute
- Assets
- $277.6m
- Revenue
- $216.7m
- Investments
- $0.0
- Employees
- 133
- Location
- Cambridge, MA
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 82-1808476
Organization Overview
Bill & Melinda Gates Medical Research Institute is located in Cambridge, MA. The organization was established in 2018. According to its NTEE Classification (E05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Health Care and related organizations. As of 12/2021, Bill & Melinda Gates Medical Research Institute employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bill & Melinda Gates Medical Research 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 12/2021, Bill & Melinda Gates Medical Research Institute generated $216.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $105.1m during the year ending 12/2021. 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
THE GATES MRI ENGAGES DIRECTLY IN THE CONDUCT OF MEDICAL RESEARCH IN CONJUNCTION WITH ONE OR MORE HOSPITALS FOR THE PURPOSE OF ADDRESSING MAJOR CAUSES OF ILLNESS AND DEATH IN LOW-AND LOWER-MIDDLE-INCOME COUNTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BILL & MELINDA GATES MEDICAL RESEARCH INSTITUTE ("GATES MRI") IS ALIGNED WITH THE PURPOSE OF THE BILL & MELINDA GATES FOUNDATION AND GUIDED BY THE VISION THAT EVERY PERSON DESERVES THE OPPORTUNITY TO LEAD A HEALTHY AND PRODUCTIVE LIFE. THE GATES MRI IS DEDICATED TO THE RESEARCH, DEVELOPMENT, AND EFFECTIVE USE OF NOVEL BIOMEDICAL INTERVENTIONS ADDRESSING SUBSTANTIAL GLOBAL HEALTH CONCERNS FOR WHICH THE REQUIRED DEVELOPMENT INVESTMENT BY TRADITIONAL BIOPHARMACEUTICAL ORGANIZATIONS IS LACKING. THE GATES MRI WORKS WITH COLLABORATING PARTNERS AND ORGANIZATIONS, COORDINATING AND DRIVING BIOPHARMACEUTICAL RESEARCH AND DEVELOPMENT ACTIVITIES, INCLUDING PRE-CLINICAL DEVELOPMENT AND CLINICAL DEVELOPMENT. IN ADDITION TO THE TUBERCULOSIS WORK NOTED IN 4(B) THE MRI FOCUSES ON PROGRAMS AIMED AT REDUCING THE BURDEN OF MALARIA, DIARRHEAL DISEASES, AND MATERNAL, NEWBORN, AND CHILD ILLNESSES WORLDWIDE.
THE GATES MRI'S LARGEST PROGRAM AREA FOCUSES ON REDUCING THE BURDEN OF TUBERCULOSIS THROUGH THE RESEARCH AND DEVELOPMENT OF NOVEL THERAPEUTICS AND VACCINE CANDIDATES, INCLUDING THROUGH THE CONDUCT OF CLINICAL TRIALS.
IN RESPONSE TO THE GLOBAL OUTBREAK OF COVID-19 IN 2020, THE GATES MRI CONDUCTED A CLINICAL STUDY IN 2020 AND 2021 TO RECRUIT PATIENTS WITH MILD COVID-19 EARLY AFTER SYMPTOMS ONSET TO TEST POTENTIAL THERAPEUTICS TO TREAT COVID-19. THIS STUDY WAS FUNDED BY GRANTS FROM THE BILL & MELINDA GATES FOUNDATION AND GATES PHILANTHROPY PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Dunne Chief Medical Officer(start 12/2020) | Officer | 40 | $716,407 |
Debra Weiss Chief Operating Officer | Officer | 40 | $530,549 |
Penny Heaton CEO (end 7/2021) | Officer | 40 | $479,111 |
Jared Silverman Head Of Translational Discov | Officer | 40 | $471,105 |
Charles Wells Clinical Development Leader | 40 | $458,931 | |
Mohamed Bassyouni Product Development Program Leader | 40 | $446,774 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cerba Research Usa Inc Clinical Lab Services | 12/30/21 | $2,665,435 |
Barc Sa Clinical Lab Services | 12/30/21 | $4,224,651 |
Logix Inc Supplemental Staffing And Consulting Ser | 12/30/21 | $3,417,625 |
Ppd Development Lp Clinical Research Organization | 12/30/21 | $14,034,074 |
Iqvia Rds Inc Clinical Research Organization | 12/30/21 | $8,137,064 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $215,039,921 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,681,831 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,721,752 |
| Total Program Service Revenue | $0 |
| Investment income | $16,207 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,748,532 |
| 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. | $4,680,294 |
| Compensation of current officers, directors, key employees. | $2,132,750 |
| Compensation to disqualified persons | $198,919 |
| Other salaries and wages | $21,710,985 |
| Pension plan accruals and contributions | $3,015,283 |
| Other employee benefits | $3,767,200 |
| Payroll taxes | $1,572,495 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,038,597 |
| Fees for services: Accounting | $187,949 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,044,745 |
| Advertising and promotion | $0 |
| Office expenses | $539,590 |
| Information technology | $1,784,987 |
| Royalties | $0 |
| Occupancy | $5,341,479 |
| Travel | $58,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,415 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,806,187 |
| Insurance | $175,126 |
| All other expenses | $902 |
| Total functional expenses | $105,126,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,259,489 |
| Pledges and grants receivable | $222,963,535 |
| Accounts receivable, net | $46,821 |
| 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 | $4,820,096 |
| Net Land, buildings, and equipment | $13,832,666 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $725,118 |
| Total assets | $277,647,725 |
| Accounts payable and accrued expenses | $17,580,390 |
| 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 | $17,580,390 |
| Net assets without donor restrictions | $260,067,335 |
| 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 | $277,647,725 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Bill & Melinda Gates Medical Research Institute has recieved totaling $303,163,776.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: DISCOVERY AND TRANSLATIONAL SCIENCES; ENTERIC AND DIARRHEAL DISEASES; MALARIA; MNCH DISCOVERY AND TOOLS; PNEUMONIA; RESEARCH AND LEARNING OPPORTUNITIES; TUBERCULOSIS | $202,000,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: DISCOVERY AND TRANSLATIONAL SCIENCES; ENTERIC AND DIARRHEAL DISEASES; MALARIA; MNCH DISCOVERY AND TOOLS; PNEUMONIA; RESEARCH AND LEARNING OPPORTUNITIES; TUBERCULOSIS | $87,149,126 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: GENERAL OPERATING SUPPORT - IN KIND | $8,359,094 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: RESEARCH AND LEARNING OPPORTUNITIES | $2,827,278 |
Gates Philanthropy Partners Seattle, WA PURPOSE: COVID-19 RESPONSE | $2,827,278 |
Celanese Foundation Irving, TX PURPOSE: CHARITABLE CONTRIBUTION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rogosin Institute Inc New York, NY | $82,482,762 | $118,085,739 |
Bill & Melinda Gates Medical Research Institute Cambridge, MA | $277,647,725 | $216,748,532 |
New York Ehealth Collaborative Inc New York, NY | $53,726,005 | $88,430,287 |
Guttmacher Institute Inc New York, NY | $76,905,675 | $37,459,523 |
Cbset Inc Lexington, MA | $14,994,473 | $24,232,593 |
Ibpat District Council No Ii Health Fund Wallingford, CT | $42,564,448 | $17,002,734 |
New York Academy Of Medicine New York, NY | $83,761,526 | $11,379,075 |
United Hospital Fund Of New York New York, NY | $118,804,052 | $10,406,800 |
District Council 1707 Health And Insurance Fund New York, NY | $11,584,860 | $8,948,840 |
Massachusetts Health Data Consortium Inc Waltham, MA | $2,199,626 | $5,057,188 |
Drugs For Neglected Diseasesinitiative North America Inc New York, NY | $1,372,645 | $4,153,290 |
Medicare Rights Center Inc New York, NY | $4,675,870 | $4,027,841 |