Oak Crest Institute Of Science
- Assets
- $6.2m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 23
- Location
- Monrovia, CA
- Founding
- 11/1998
- Data as of
- 12/2023
- EIN
- 95-4680961
Organization Overview
Oak Crest Institute Of Science is located in Monrovia, CA. The organization was established in 1998. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Oak Crest Institute Of Science employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oak Crest Institute Of Science 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, Oak Crest Institute Of Science generated $7.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $6.7m during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
1.GOVERNMENTAL RESEARCHFEDERAL GRANTS MAKE UP THE LARGEST PORTION OF OAK CRESTS CURRENT FUNDING SUPPORT. THESE INCLUDE GRANTS FROM (A) THE NATIONAL INSTITUTES OF HEALTH TO DEVELOP INNOVATIVE BIOMEDICAL TECHNOLOGIES FOR THE PREVENTION AND TREATMENT OF INFECTIOUS DISEASES; (B) THE NATIONAL SCIENCE FOUNDATION TO DEVELOP AND IMPLEMENT EDUCATIONAL PROGRAMS GEARED AT INCREASING COMMUNITY COLLEGE STUDENT ENGAGEMENT IN SCIENCE; AND (C) THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION TO CONDUCT LABORATORY STUDIES THAT MAY SHED LIGHT ON THE EMERGENCE OF LIFE ON EARTH AND OTHER PLANETS.2. LAB LOAN OUTSOAK CREST IS DEEPLY COMMITTED TOWARDS BUILDING A SCIENCE ECOSYSTEM CENTERED IN MONROVIA, A PROGRAM THAT IS EXPECTED TO BUILD A SUSTAINABLE NETWORK OF LOCAL TECHNOLOGY COMPANIES OFFERING HIGH QUALITY EMPLOYMENT OPPORTUNITIES TO LOCAL RESIDENTS. THE EFFORT INCLUDES ATTRACTING SCIENTIFIC ENTREPRENEURS AND SUPPORTING THE EARLY STAGES OF THEIR START-UP COMPANIES BY PROVIDING LABORATORY SPACE AND ACCESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OAK CREST INSTITUTE OF SCIENCE IS AN INNOVATIVE CHEMISTRY AND BIOLOGY RESEARCH AND EDUCATION CENTER WHERE TODAYS SCIENTISTS IMMERSE A DIVERSITY OF STUDENTS OF ALL ACADEMIC LEVELS IN HIGH-IMPACT RESEARCH, CULTIVATING TOMORROWS SCIENTISTS ONE INDIVIDUAL AT A TIMEGOVERNMENT RESEARCH COMPRISES 90% OF TOTAL INCOMENON FEDERAL RESEARCH AND LAB LOAN OUT FEES AND SERVICES COMPRISE THE REMAINING 10% OF INCOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Marc Baum CEO | OfficerTrustee | 40 | $221,857 |
John Moss | 40 | $124,246 | |
Wendy Cano Secretary | Officer | 40 | $116,734 |
Paul Webster | 40 | $120,275 | |
Saman M Gunawardana | 40 | $103,719 | |
Richard Garrett CPA CFO | Officer | 4 | $13,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Scripts Research Institute Medical Research | 12/30/23 | $232,772 |
Univ Of North Carolina At Chapel Hill Medical Research | 12/30/23 | $215,898 |
Univ Of Texas - Medical Branch Medical Research | 12/30/23 | $381,472 |
Vanderbilt University Medical Center Medical Research | 12/30/23 | $60,217 |
Weill Cornel Medical College Medical Research | 12/30/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,995,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,995,653 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,991,209 |
| Total Program Service Revenue | $797,583 |
| Investment income | $211 |
| 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 | $7,789,378 |
| 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. | $376,300 |
| Compensation of current officers, directors, key employees. | $167,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $980,349 |
| Pension plan accruals and contributions | $32,151 |
| Other employee benefits | $108,361 |
| Payroll taxes | $97,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $170,090 |
| Fees for services: Accounting | $39,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $520,026 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $211,634 |
| Travel | $38,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,101 |
| Interest | $106,800 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $362,505 |
| Insurance | $58,439 |
| All other expenses | $107,933 |
| Total functional expenses | $6,725,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $483,801 |
| Savings and temporary cash investments | $3,549 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,879,832 |
| 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 | $91,705 |
| Net Land, buildings, and equipment | $3,474,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $176,663 |
| Other assets | $94,933 |
| Total assets | $6,204,614 |
| Accounts payable and accrued expenses | $936,827 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,850,020 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $177,474 |
| Total liabilities | $2,964,321 |
| Net assets without donor restrictions | $3,240,293 |
| 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 | $6,204,614 |