Sanford Laboratories For Innovative Medicines
- Assets
- $26.1m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 22
- Location
- San Diego, CA
- Founding
- Data as of
- 12/2023
- EIN
- 87-3910792
Organization Overview
Sanford Laboratories For Innovative Medicines is located in San Diego, CA. According to its NTEE Classification (A05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Sanford Laboratories For Innovative Medicines employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sanford Laboratories For Innovative Medicines 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, Sanford Laboratories For Innovative Medicines generated $12.5m in total revenue. All expenses for the organization totaled $3.9m during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SANFORD LABS IS A NOT-FOR-PROFIT PUBLIC BENEFIT BIOMEDICAL RESEARCH ORGANIZATION WITH A MISSION TO DISCOVER AND DELIVER NEXT-GENERATION PRECISION MEDICINES TO IMPROVE THE LIVES OF PATIENTS IN NEED. SANFORD LABS' GOAL IS TO EXPEDITE THE TRANSLATION OF SCIENTIFIC DISCOVERIES TO NOVEL MEDICINES BY LEVERAGING AN OPERATIONAL MODEL THAT IS DISTINCT FROM OTHER ACADEMIC AND NOT-FOR-PROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SANFORD LABORATORIES FOR INNOVATIVE MEDICINES (SANFORD LABS) IS AN INDEPENDENT, NOT-FOR-PROFIT COLLABORATIVE HUB WITH A MISSION TO ACCELERATE THE DEVELOPMENT OF NOVEL MOLECULAR MEDICINES FROM SCIENTIFIC DISCOVERY TO THE CLINIC. OUR CURRENT RESEARCH IS FOCUSED ON RNA THERAPEUTICS, A RAPIDLY EXPANDING CLASS OF DRUGS WITH THE POTENTIAL TO PROGRESS QUICKLY FROM CONCEPT TO PATIENT AND CHANGE THE STANDARD OF CARE FOR MANY LIFE-THREATENING DISEASES. (CONTINUED ON SCHEDULE O).OUR UNIQUE OPERATING MODEL FILLS A CRITICAL GAP FOR TRANSLATIONAL RESEARCH THAT DOES NOT FIT TRADITIONAL ACADEMIC LABS AND YET IS TOO EARLY FOR VENTURE OR INDUSTRY INVESTMENT. OUR RESEARCH TEAMS, LED BY TEAMS OF ENTREPRENEURIAL SCIENTISTS, ARE ORGANIZED AROUND THERAPEUTIC APPROACHES AND PLATFORM TECHNOLOGIES WITH BROAD APPLICABILITY TO A RANGE OF DISEASES, THUS ENABLING THE EFFICIENT PROTOTYPING OF MULTIPLE NEW MEDICINES IN PARALLEL. IN ADDITION TO OUR INTERNAL RESEARCH, WE ARE ACTIVELY FORGING COLLABORATIONS ACROSS THE DYNAMIC LIFE SCIENCE ECOSYSTEM AND AIM TO ENHANCE SAN DIEGO'S LEADERSHIP AS A WORLD-CLASS CLUSTER IN RNA BIOLOGY AND MEDICINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristiina Vuori President/board Member | OfficerTrustee | 6 | $25,577 |
Louis Coffman Thru 523 Cfo/board Member | OfficerTrustee | 1 | $75,579 |
Knox Bell Secretary/board Member | OfficerTrustee | 1 | $0 |
Edward Holmes Chair | Trustee | 1 | $0 |
Michael Dollar CFO | Officer | 40 | $230,983 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $532,763 |
| 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 | $12,532,763 |
| 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. | $349,008 |
| Compensation of current officers, directors, key employees. | $349,008 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $886,130 |
| Pension plan accruals and contributions | $18,446 |
| Other employee benefits | $143,363 |
| Payroll taxes | $86,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,481 |
| Fees for services: Accounting | $22,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $280,941 |
| Advertising and promotion | $0 |
| Office expenses | $5,515 |
| Information technology | $244,258 |
| Royalties | $0 |
| Occupancy | $1,294,995 |
| Travel | $18,886 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,692 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $136,332 |
| Insurance | $19,892 |
| All other expenses | $10,723 |
| Total functional expenses | $3,933,217 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $299,858 |
| Savings and temporary cash investments | $19,113,043 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30 |
| 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 | $320,628 |
| Net Land, buildings, and equipment | $1,414,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,928,695 |
| Total assets | $26,076,643 |
| Accounts payable and accrued expenses | $168,669 |
| Grants payable | $0 |
| Deferred revenue | $10,000,000 |
| 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 | $5,323,171 |
| Total liabilities | $15,491,840 |
| Net assets without donor restrictions | $10,584,803 |
| 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 | $26,076,643 |