SEATTLE BIOMEDICAL RESEARCH INSTITUTE Charity Report

Tax-exempt status may be revoked

SEATTLE BIOMEDICAL RESEARCH INSTITUTE

EIN 91-0961784 · Biomedicine & Bioengineering Research (H92)

What they do

WE CONDUCT FUNDAMENTAL INFECTIOUS DISEASE RESEARCH to GENERATE CRITICAL NEW KNOWLEDGE ABOUT PATHOGENS and THEIR INTERACTIONS WITH SEE SCHEDULE O for CONTINUATIONHUMANS to ENABLE THE DISCOVERY and DEVELOPMENT of NOVEL INTERVENTIONS, RATIONAL VACCINES, THERAPEUTIC TARGETS, DRUGS and DIAGNOSTICS. THESE DISEASES INCLUDE, BUT ARE NOT LIMITED TO, TUBERCULOSIS, MALARIA, and HIV.WE ARE ALSO ENGAGED IN TRAINING THE NEXT GENERATION of SCIENTISTS WHO WILL PERFORM SCIENTIFIC RESEARCH and ADD CLINICAL CAPACITY THROUGHOUT THE WORLD.

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This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2018The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders27 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

346.33%of revenue went to mission work89.9% of expenses · Program services

1.21%of revenue went to fundraising0.3% of expenses

$385.32spent for every $100 of revenueSpending was higher than revenue this year.

37.78%of revenue went to management and office costs9.8% of expenses

94.8%of its money came from giftsOther money may come from services or investments.

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Worth asking: Expenses exceeded revenue by $25,776,431 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $610,199 for JOHN AITCHISON (PRESIDENT). Compare pay with organizations of similar size and complexity.

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Money

Financial picture

Tax year 2018

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$9,034,127

Mission workProgram services$31,287,738346.33% of revenue89.9% of expenses

ManagementOffice and general costs$3,413,52337.78% of revenue9.8% of expenses

FundraisingAsking for donations$109,2971.21% of revenue0.3% of expenses

Total expenses$34,810,558385.32% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2018CurrentExpense mix: 89.9% mission · 9.8% management · 0.3% fundraisingTotal expenses: 385.32% of revenue

2017Expense mix: 92.1% mission · 7.2% management · 0.7% fundraisingTotal expenses: 112.92% of revenue

2016Expense mix: 91.6% mission · 7.1% management · 1.4% fundraisingTotal expenses: 111.60% of revenue

2015Expense mix: 88.7% mission · 8.8% management · 2.5% fundraisingTotal expenses: 55.86% of revenue

Money in and money out

Revenue$9,034,127

Expenses$34,810,558

Annual shortfall $25,776,431 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$31,287,738 · 89.9% of expenses

Management and office costs$3,413,523 · 9.8% of expenses

Fundraising$109,297 · 0.3% of expenses

See all reported dollar amounts

Revenue$9,034,127

Expenses$34,810,558

Income$9,034,999

Contributions$8,562,331

Mission work (program services)$31,287,738

Fundraising$109,297

Grants given$18,668,029

Average grant$18,668,029

Management and general$3,413,523

Executive compensation (total)$2,171,072

Stocks and bonds$17,368,235

Accounting fees$112,956

People

Leadership and board

Tax year 2018

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JOHN AITCHISONPRESIDENT · 40 hrs/week $610,199Base $578,347 · Other $31,852

ALAN ADEREMPRESIDENT EMERITUS · 40 hrs/week $533,172Base $497,467 · Other $35,705

DAVID KEOGHCHIEF OPERATING OFFICER · 40 hrs/week $435,773Base $405,935 · Other $29,838

KEN STUARTTRUSTEE/FOUNDER · 40 hrs/week $356,457Base $328,140 · Other $28,317

STEFAN KAPPEVP STRATEGIC DEVELOPMENT · 40 hrs/week $277,248Base $249,997 · Other $27,251

RONALD HOODSR DIRECTOR IT · 40 hrs/week $250,972Base $234,845 · Other $16,127

KENT IRWINSR DIR OPERATIONS/FACILITIES · 40 hrs/week $209,647Base $194,382 · Other $15,265

JANE M MILLSLEGAL COUNSEL · 40 hrs/week $200,201Base $184,847 · Other $15,354

DAVID SHERMANASSOCIATE DIRECTOR · 40 hrs/week $199,886Base $177,601 · Other $22,285

RANDELL WATKINSSR FACILITIES MGR · 40 hrs/week $188,586Base $180,848 · Other $7,738

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (27)

JOHN AITCHISONPRESIDENT

ALAN ADEREMPRESIDENT EMERITUS

DAVID KEOGHCHIEF OPERATING OFFICER

KEN STUARTTRUSTEE/FOUNDER

STEFAN KAPPEVP STRATEGIC DEVELOPMENT

RONALD HOODSR DIRECTOR IT

KENT IRWINSR DIR OPERATIONS/FACILITIES

JANE M MILLSLEGAL COUNSEL

DAVID SHERMANASSOCIATE DIRECTOR

RANDELL WATKINSSR FACILITIES MGR

ROSEMARY ARAGONTRUSTEE

TREVER MOODYTRUSTEE

ROB THOMASTRUSTEE

STEVEN CLIFFORDSECRETARY

TJ PETRIZZOTRUSTEE

PERRY ATKINSTRUSTEE

PATRICE AULDTRUSTEE

MARK MATHEWSONTRUSTEE

MARK ASHIDATRUSTEE

KEVIN KELLYVICE CHAIR

IRWIN GOVERMANCHAIR

GREGG BLODGETTTREASURER

DAVID STEWARTTRUSTEE

DAVID GOESLINGTRUSTEE

BRIAN SCHWARTZTRUSTEE

BRIAN OLSAVSKYTRUSTEE

ALAN LEVYTRUSTEE

About this charity

Location: PO BOX 356, MERCER ISLAND, WA 98040
County: King
In care of: GREGG BLODGETT
Primary officer: GREGG BLODGETT, TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(415) 744-4352

Filing and classification

Latest tax year: 2018
Tax period began: July 1, 2018
Return type: 990
Tax preparer: MOSS ADAMS LLP
NTEE classification: Biomedicine & Bioengineering Research (H92)
IRS tax category: Biomedicine & Bioengineering Research
Grant-giving organization: Yes
Revocation date: August 15, 2022