Washington Research Licensing Foundation
- Assets
- $3.5m
- Revenue
- $424.2k
- Investments
- $486.0k
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 11/1992
- Data as of
- 06/2022
- EIN
- 91-1160492
Organization Overview
Washington Research Licensing Foundation is located in Seattle, WA. The organization was established in 1992. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Research Licensing 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 06/2022, Washington Research Licensing Foundation generated $424.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (42.9%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. 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
2022
Describe the Organization's Program Activity:
ASSIST ELIGIBLE INSTITUTIONS TO APPLY FOR PATENTS RELATED TO DISCOVERIES, INVENTIONS, AND PROCESSES RESULTING FROM THEIR RESEARCH AND TO MANAGE PATENT RIGHTS.
PROMOTE, ENCOURAGE, AND SUPPORT SCIENTIFIC INVESTIGATION AND RESEARCH AT ELIGIBLE INSTITUTIONS. (RELATED GRANTS: $35,000)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Kent Carlson Director | 0.5 | $0 | |
Morgan Hellar Cfo/treasurer/secretary | 2 | $0 | |
Adriane Brown Director | 0.5 | $0 | |
Jacqueline Brainard Emami Director | 0.5 | $0 | |
Thomas Cable Director | 0.5 | $0 | |
Kevin Cable Director | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clark Nuber Ps | 6/29/21 | $94,693 |
K&l Gates | 6/29/21 | $92,484 |
Ember One | 6/29/21 | $62,808 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13,027 |
| Dividends & Interest | $5,040 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $400,222 |
| Capital Gain Net Income | $330,595 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,881 |
| Total Revenue | $424,170 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $10 |
| Interest | $13,081 |
| Taxes | $106,813 |
| Depreciation | $59,347 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,164 |
| Total operating and administrative expenses | $238,114 |
| Contributions, gifts, grants paid | $2,913,452 |
| Total expenses and disbursements | $3,151,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,781 |
| Savings and temporary cash investments | $2,061,127 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $11,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,946 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $485,986 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $727,404 |
| Total assets | $3,535,744 |
| Accounts payable and accrued expenses | $556,854 |
| Grants payable | $70,000 |
| 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 | $626,854 |
Grants Awarded
Over the last fiscal year, Washington Research Licensing Foundation has awarded $27,962 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF WASHINGTON PURPOSE: DR. DAVID GINGER, RETENTION AT CLEAN ENERGY INST | $35,000 |
WASHINGTON RESEARCH FOUNDATION PURPOSE: PORTION OF GRANTS PAID TREATED AS A DISTRIBUTION OF CORPUS UNDER TREAS. REG. 53.4942(A)-3. | -$2,913,452 |
WASHINGTON RESEARCH FOUNDATION PURPOSE: CAPITAL GRANT OF ASSETS, SEE STATEMENT 13 FOR THE GRANT PURPOSE. PRIVATELY HELD INVESTMENTS, FIXED ASSETS, CASH - $2,913,452 BOOK VALUE OF CONTRIBUTED PROPERTY: $2,913,452 VALUATION METHOD: FAIR MARKET VALUE DATE OF GIFT: VARIOUS | $2,913,452 |
WASHINGTON RESEARCH FOUNDATION PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS TO WASHINGTON RESEARCH LICENSING FOUNDATION (91-1160492) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | -$7,038 |