Washington Research Licensing Foundation
- Assets
- $0.0
- Revenue
- $2.3m
- Investments
- $27.8m
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 11/1992
- Data as of
- 06/2020
- 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 06/2020, Washington Research Licensing Foundation generated $2.3m 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 (51.1%) each year. All expenses for the organization totaled $6.5m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (66.8%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
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: $70,000)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Howell CEO & President (thru 4/2021) | 40 | $338,229 | |
Loretta Little Managing Director | 40 | $238,908 | |
Jeff Eby Cfo/acting Ceo/treasurer/secretary | 40 | $238,678 | |
William Canestaro Managing Director | 40 | $238,500 | |
Kimberly Emmons Manager, Research Se | 40 | $189,916 | |
David Shoultz Director, Grant Prog | 40 | $155,000 |
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 | $53,088 |
| Interest on Savings | $52,036 |
| Dividends & Interest | $588,464 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,304 |
| Total Revenue | $2,272,647 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $892,200 |
| Pension plans, employee benefits | $509,825 |
| Depreciation | $18,859 |
| Occupancy | $193,062 |
| Travel, conferences, and meetings | $126,292 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $4,522,142 |
| Contributions, gifts, grants paid | $1,994,705 |
| Total expenses and disbursements | $6,516,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,327,365 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,983,377 |
| Other assets | $1,102,560 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Washington Research Licensing Foundation has awarded -$1,930,206 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: CAPITAL GRANT OF ASSETS, SEE STATEMENT 15 FOR THE GRANT PURPOSE. CASH - $23,953,848; PRIVATELY HELD INVESTMENTS - $2,013,727BOOK VALUE OF CONTRIBUTED PROPERTY: $25,967,575VALUATION METHOD: FAIR MARKET VALUEDATE OF GIFT: VARIOUS | $25,967,575 |
UNIVERSITY OF WASHINGTON PURPOSE: DR. DAVID GINGER, RETENTION AT CLEAN ENERGY INST | $35,000 |
UNIVERSITY OF WASHINGTON PURPOSE: DR. DAVID GINGER, RETENTION AT CLEAN ENERGY INST | $35,000 |
Seattle, WA PURPOSE: PORTION OF QUALIFYING DISTRIBUTIONS ATTRIBUTABLE TO THE FOUNDATION AS PART OF THE SIGNIFICANT DISTRIBUTION OF ASSETS FROM WASHINGTON RESEARCH FOUNDATION (46-4105873) DURING THE YEAR, PURSUANT TO TREAS REG 1.507-3. | -$2,000,206 |
Seattle, WA PURPOSE: PORTION OF GRANTS PAID TREATED AS A DISTRIBUTION OF CORPUS UNDER TREAS. REG. 53.4942(A)-3. | -$25,967,575 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Washington Research Licensing Foundation has recieved totaling $2,000,206.
| Awarding Organization | Amount |
|---|---|
Washington Research Foundation Seattle, WA 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. | $2,000,206 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pacific Northwest Research Institute Seattle, WA | $26,418,293 | $6,927,038 |
Washington Research Licensing Foundation Seattle, WA | $0 | $2,272,647 |
Oregon Robotics Tournament & Outreach Program Portland, OR | $949,929 | $768,231 |
Taubert Memorial Foundation Cottage Grove, OR | $2,705,933 | $19,882 |
Oregon Association Of Hospital Research And Education Foundation Lake Oswego, OR | $1,948,607 | $654,592 |
Kauai Energy Institute Lake Oswego, OR | $4,779,441 | -$36,951 |
Physicians For Social Responsibility Inc Portland, OR | $464,776 | $348,664 |
South Park Area Redevelopment Committee Seattle, WA | $99,627 | $311,665 |
Northwest Infant Survival Alliance Sids Foundation Of Washington Couer D Alene, ID | $173,954 | $361,339 |
Washington Academy Of Family Physicians Foundation Bellevue, WA | $1,458,760 | $154,822 |
St Laurent Institute Inc Vancouver, WA | $432,802 | $120,000 |
The Diabesity Institute Seattle, WA | $20,809 | $0 |