Lundquist Institute For Biomedical Innovation At Harbor-Ucla Medical
- Assets
- $185.3m
- Revenue
- $85.2m
- Investments
- $0.0
- Employees
- 768
- Location
- Torrance, CA
- Founding
- 01/1954
- Data as of
- 06/2022
- EIN
- 95-2138184
Organization Overview
Lundquist Institute For Biomedical Innovation At Harbor-Ucla Medical, operating under the name The Lundquist Institute, is located in Torrance, CA. The organization was established in 1954. According to its NTEE Classification (H90) the organization is classified as: Medical Disciplines Research, under the broad grouping of Medical Research and related organizations. As of 06/2022, Lundquist Institute employed 768 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lundquist 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 06/2022, Lundquist Institute generated $85.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $92.0m during the year ending 06/2022. While expenses have increased by 3.4% per year over the past 6 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 2020, Lundquist Institute has awarded 79 individual grants totaling $10,110,364. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE IN BIOMEDICAL RESEARCH, EDUCATE, AND PROVIDE COMMUNITY HEALTH SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL RESEARCH: MEDICAL RESEARCH, SPONSORED BY THE NATIONAL INSTITUTES OF HEALTH AND OTHER FEDERAL, STATE AND PRIVATE AGENCIES, COVERING MANY DIVERSE MEDICAL AND SCIENTIFIC AREAS OF INTEREST IN HUMAN HEALTH.
OTHER PROGRAM SERVICES: INCLUDES SALES OF BIOMEDICAL SERVICES AND PRODUCTS AND ROYALTY PAYMENTS TO INVENTORS.
HEALTH CARE PROGRAM: LUNDQUIST INSTITUTE CLINICAL OUTREACH INCLUDES WOMEN, INFANTS AND CHILDREN (WIC) CLINICS, PARTICIPATION IN THE SOUTH LOS ANGELES BEST BABIES COLLABORATIVE, IMMUNIZE LA KIDS COALITION, NEWBORN SCREENING PROGRAM, PERINATAL ACCESS PROGRAM, A WOMEN'S HEALTHCARE CLINIC, AND VARIOUS EDUCATIONAL PROGRAMS.
SCIENCE & TECHNOLOGY: TRAINING OF MEDICAL STUDENTS, INTERNS, RESIDENTS, AND POST GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Meyer Ex Officio, President & CEO | OfficerTrustee | 40 | $468,828 |
Ashraf Ibrahim Elected Investigator, Vice Chair | OfficerTrustee | 40 | $349,929 |
Dr Jerome Rotter Board Member/investigator | Trustee | 40 | $210,176 |
Dr Lynda Polgreen Board Member/investigator | Trustee | 40 | $197,094 |
Dr Harry Rossiter Ex Officio, Chair, Research Committee | Trustee | 40 | $154,455 |
Dr Lynne Smith Ex Officio, Dept. Chair, Secretary | OfficerTrustee | 40 | $94,486 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ct Coachworks Llc Ct Trailer/medical | 6/29/22 | $405,016 |
Aes Creative Inc Rose Parade Float Design | 6/29/22 | $350,000 |
Ascend Learning Holdings Llc Dba Medhu Educational Training Software | 6/29/22 | $233,874 |
Zimmer Gunsul Frasca Architects Llp Architect | 6/29/22 | $351,843 |
Mercury Public Affairs Llc Public Strategy Firm | 6/29/22 | $182,574 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,441,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,765,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,206,286 |
| Total Program Service Revenue | $4,417,000 |
| Investment income | $934,273 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,182,000 |
| Net Rental Income | $104,202 |
| Net Gain/Loss on Asset Sales | $310,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,153,761 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,281,067 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $686,832 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,843,270 |
| Compensation of current officers, directors, key employees. | $492,733 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,059,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,180,350 |
| Payroll taxes | $3,016,979 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $893,225 |
| Fees for services: Accounting | $146,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $104,250 |
| Fees for services: Other | $920,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $1,144,000 |
| Occupancy | $7,327,511 |
| Travel | $1,075,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,589,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,335,000 |
| Insurance | $1,492,693 |
| All other expenses | $81,000 |
| Total functional expenses | $91,968,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,681,522 |
| Savings and temporary cash investments | $33,015,478 |
| Pledges and grants receivable | $16,295,000 |
| Accounts receivable, net | $0 |
| 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 | $845,000 |
| Net Land, buildings, and equipment | $87,341,751 |
| Investments—publicly traded securities | $31,479,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,249 |
| Other assets | $5,683,000 |
| Total assets | $185,346,000 |
| Accounts payable and accrued expenses | $12,141,000 |
| Grants payable | $0 |
| Deferred revenue | $12,797,000 |
| Tax-exempt bond liabilities | $53,168,314 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $14,863,686 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,312,000 |
| Total liabilities | $98,282,000 |
| Net assets without donor restrictions | $74,584,000 |
| Net assets with donor restrictions | $12,480,000 |
| 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 | $185,346,000 |
Grants Awarded
Over the last fiscal year, Lundquist Institute For Biomedical Innovation At Harbor-Ucla Medical has awarded $3,256,677 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
AMER COLLEGE EMER PHYSICIANS PURPOSE: SUPPORT GENERAL OPERATIONS | $13,675 |
BOARD OF REGENTS OF THE UNIVERSITY OF NEBRASKA PURPOSE: SUPPORT GENERAL OPERATIONS | $97,500 |
BOARD REGENTS-UNIV WISCONSIN PURPOSE: SUPPORT GENERAL OPERATIONS | $39,903 |
BROWN UNIVERSITY PURPOSE: SUPPORT GENERAL OPERATIONS | $58,283 |
CALIFORNIA INSTITUTE OF TECHNOLOGY PURPOSE: SUPPORT GENERAL OPERATIONS | $95,248 |
CHILDREN'S HOSPITAL MEDICAL CENTER PURPOSE: SUPPORT GENERAL OPERATIONS | $31,004 |