Milky Way Research Foundation
- Assets
- $3.8m
- Revenue
- $30.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- Data as of
- 05/2023
- EIN
- 85-2277927
Organization Overview
Milky Way Research Foundation is located in Washington, DC. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Milky Way Research 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 05/2023, Milky Way Research Foundation generated $30.0m in total revenue. All expenses for the organization totaled $27.0m during the year ending 05/2023. While expenses have increased by 155.1% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Milky Way Research Foundation has awarded 89 individual grants totaling $57,849,697. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HOSTED A SYMPOSIUM DURING THE TAX-YEAR ENDING MAY 31, 2021, CREATING A VISION FOR THE SCIENCE OF REJUVENATION AND SUPPORTING THE FURTHERANCE OF MEDICAL RESEARCH RELATED TO PHYSIOLOGICAL CHANGE OVER TIME. THE SYMPOSIUM INCLUDED TOPICS SUCH AS CELLULAR REPROGRAMMING, EPIGENETIC REPROGRAMMING, CLOCKS AND HALLMARKS, ORGANISMAL MATURATION AND SENESCENCE, AND TRANSLATIONAL OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Klausner Director, President & Treasurer | 1 | $0 | |
James A Hutchinson Director, Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $30,029,561 |
| Interest on Savings | $8,939 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $30,038,500 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $100 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $250,320 |
| Total operating and administrative expenses | $309,384 |
| Contributions, gifts, grants paid | $26,687,625 |
| Total expenses and disbursements | $26,997,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,863 |
| Savings and temporary cash investments | $1,157 |
| Net Accounts receivable | $1 |
| Net Pledges Receivable | $3,649,026 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,832,047 |
| Accounts payable and accrued expenses | $38 |
| Grants payable | $3,649,577 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,649,615 |
Grants Awarded
Over the last fiscal year, Milky Way Research Foundation has awarded $31,456,450 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |
SALK INSTITUTE FOR BIOLOGICAL STUDIES PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |
WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |
UNIVERSITY OF ROCHESTER PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |
ALBERT EINSTEIN COLLEGE OF MEDICINE PURPOSE: INVESTIGATOR AWARD RESEARCH GRANT | $1,150,000 |