Civic Intelligence

Giovanni Armenise-Harvard Foundation for Scientific Research

990 • Fiscal year 2018 • EIN 04-3293162

Jul 01, 2017 to Jun 30, 2018 • Filed on May 06, 2019

Hms C/O Dean Of Faculty Of MedicineBoston, MA 02115

(617) 432-6257

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.04x

Higher debt load relative to assets than 18% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

0.82x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

2nd percentile

-71%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

84th percentile

$841,952

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 26.3% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

42nd percentile

1.3%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

23rd percentile

-3.6%

Faster revenue growth than 23% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$66,567,918

Up $849,475 (+1.3%) from 2017

Net Assets

Up

$63,941,199

Up $267,624 (+0.4%) from 2017

Liabilities

Up

$2,626,719

Up $581,851 (+28%) from 2017

Revenue

Down

$3,201,570

Down $119,935 (-3.6%) from 2017

Expenses

Down

$5,479,467

Down $591,532 (-9.7%) from 2017

Net Income

Up

-$2,277,897

Up $471,597 (+17%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2011: $75,220,445Liabilities 2011: $291,753Net Assets 2011: $74,928,6922011Assets 2012: $70,363,620Liabilities 2012: $1,660,506Net Assets 2012: $68,703,1142012Assets 2013: $73,267,435Liabilities 2013: $2,783,037Net Assets 2013: $70,484,3982013Assets 2014: $78,119,137Liabilities 2014: $2,791,902Net Assets 2014: $75,327,2352014Assets 2015: $75,364,646Liabilities 2015: $2,531,595Net Assets 2015: $72,833,0512015Assets 2016: $67,344,510Liabilities 2016: $2,395,886Net Assets 2016: $64,948,6242016Assets 2017: $65,718,443Liabilities 2017: $2,044,868Net Assets 2017: $63,673,5752017Assets 2018: $66,567,918Liabilities 2018: $2,626,719Net Assets 2018: $63,941,1992018Assets 2019: $67,500,899Liabilities 2019: $2,773,451Net Assets 2019: $64,727,4482019Assets 2020: $69,020,687Liabilities 2020: $2,982,171Net Assets 2020: $66,038,5162020Assets 2021: $87,268,004Liabilities 2021: $2,395,398Net Assets 2021: $84,872,6062021Assets 2022: $82,886,909Liabilities 2022: $1,871,431Net Assets 2022: $81,015,4782022Assets 2023: $81,682,389Liabilities 2023: $2,734,843Net Assets 2023: $78,947,5462023Assets 2024: $85,473,249Liabilities 2024: $2,731,357Net Assets 2024: $82,741,8922024

Highlighted filing

2018

Assets$66,567,918
Liabilities$2,626,719
Net Assets$63,941,199

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $3,165,865Expenses 2011: $3,127,115Net Income 2011: $38,7502011Revenue 2012: $2,992,564Expenses 2012: $5,762,257Net Income 2012: -$2,769,6932012Revenue 2013: $3,280,930Expenses 2013: $5,378,446Net Income 2013: -$2,097,5162013Revenue 2014: $3,602,479Expenses 2014: $5,389,740Net Income 2014: -$1,787,2612014Revenue 2015: $3,234,074Expenses 2015: $6,364,797Net Income 2015: -$3,130,7232015Revenue 2016: $3,275,872Expenses 2016: $6,028,230Net Income 2016: -$2,752,3582016Revenue 2017: $3,321,505Expenses 2017: $6,070,999Net Income 2017: -$2,749,4942017Revenue 2018: $3,201,570Expenses 2018: $5,479,467Net Income 2018: -$2,277,8972018Revenue 2019: $3,192,916Expenses 2019: $2,851,465Net Income 2019: $341,4512019Revenue 2020: $3,279,260Expenses 2020: $2,923,377Net Income 2020: $355,8832020Revenue 2021: $3,121,005Expenses 2021: $2,553,706Net Income 2021: $567,2992021Revenue 2022: $3,515,186Expenses 2022: $1,900,900Net Income 2022: $1,614,2862022Revenue 2023: $3,556,860Expenses 2023: $3,823,404Net Income 2023: -$266,5442023Revenue 2024: $3,601,590Expenses 2024: $3,159,554Net Income 2024: $442,0362024

Highlighted filing

2018

Revenue$3,201,570
Expenses$5,479,467
Net Income-$2,277,897
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 6, 2019
Return Version
2017v2.3
Gross Receipts
$3,201,570
Mission and Program Overview

Mission

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$65,399,365$66,244,886▲ $845,521
Savings and Temporary Cash Investments$319,078$323,032▲ $3,954
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$65,718,443$66,567,918▲ $849,475
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$2,035,646$2,626,719▲ $591,073
Accounts Payable and Accrued Expenses$9,222$0▼ $9,222
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,044,868$2,626,719▲ $581,851
Net Assets / Fund Balance
Unrestricted Net Assets$63,673,575$63,941,199▲ $267,624
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$63,673,575$63,941,199▲ $267,624
Total Liabilities and Net Assets / Fund Balance$65,718,443$66,567,918▲ $849,475

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$65,567,383-▲ $5,744,064$4,164,401$66,352,471
2016$67,220,819-▲ $4,789,929$5,627,032$65,567,383
2015$75,338,268-▼ $1,859,694$5,407,373$67,220,819
2014$78,036,506-▲ $3,864,612$5,729,983$75,338,268
2013$73,114,400-▲ $10,232,576$4,442,163$78,036,506
Compensation and Service Providers

Board Members and Trustees

NameTitle
Giampiero Auletta ArmeniseChairman
Barbara McneilFormer Int Prs/CEO/trustee
Jeffrey S FlierFormer Pres/CEO/trustee
Peter M Howley MdTrustee (until 12/17)
Lisa MayerTrustee/exec Director Gahf
Michael P WhiteTrustee/treasurer
George Q Daley MdPres/CEO/trst
Revenue and Support

Revenue Composition

Contributions and Grants
$3,000
Program Service Revenue
$0
Investment Income
$3,198,570
Other Revenue
$0
All Other Contributions
$3,000
Change in Net Assets
$-2,277,897
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,644,614
Other Expenses$834,853
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,472,000--$2,472,000
Foreign Grants$2,172,614--$2,172,614
Fees for Services Other$1,500$30,186-$31,686
Travel$16,614$12,097-$28,711
Conferences and Meetings$17,809--$17,809
Fees for Services Accounting-$13,000-$13,000
Office Expenses$1,582$2,917-$4,499
Other Expenses$2,773$57,995-$2,773
All Other Expenses-$694-$694
Information Technology-$355-$355
Total Functional Expenses$4,684,892$794,575$0$5,479,467
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
President & Fellows of Harvard CollegeCambridge, MA501(c)(3)Research$2,472,000

International Summary

Offices
1
Spending
$2,172,614

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)GrantmakingResearch Award1-$2,172,614
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pledges Payable$2,415,110
Due to Harvard$211,609
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, LINE 11B:

The organization's tax return is prepared by external tax preparers and was reviewed by management. A final copy of form 990 was provided to each voting member of the board prior to filing with the irs.

FORM 990, PART VI, LINES 12, 13, & 14:

Giovanni armenise-harvard foundation for scientific research ("the foundation") has no separate written conflict of interest, document retention, and whistleblower policies. As an affiliated entity of the president & fellows of harvard college ("the college"), the foundation adheres to the college's central policies on document retention and whistleblowers. In addition, the foundation adheres to harvard medical school's ("hms") conflict of interest policy. Officers and trustees are required to disclose interests that could give rise to conflicts. Monitoring takes place within the framework of hms.

FORM 990, PART VI, LINE 15B:

Officers and trustees are not compensated in their capacity as officers/ trustees of the foundation. However, the individuals listed were also employees of the college, positions for which they received compensation. Therefore, their compensation and benefits are determined by the college. Form 990, part vi, line 18: the organization's form 990 is also available through www.guidestar.org.

FORM 990, PART VI, LINE 19:

The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Giovanni Armenise-harvard
EIN
04-3293162
In Care Of
% CHERYL O'TOOLE
Phone
6174326257
Address
HMS C/O DEAN OF FACULTY OF MEDICINE, BOSTON, MA 02115

Signing Officer

Name
Lisa Mayer
Title
Executive Director
Signed
2019-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Mayer
Formed
1995
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
PricewaterhouseCoopers LLP
Address
101 SEAPORT BLVD SUITE 500, BOSTON, MA 02210
Preparer
Erin Couture
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1 & PART III, LINE 1:

To support research in molecular and cell biology, basic to medicine and agriculture, considering derivative ethical issues, all in connection with the president & fellows of harvard college ("the college"), also referred to as harvard university.

FORM 990, PART V, LINE 2A:

Giovanni armenise-harvard foundation for scientific research ("the foundation") has no employees. The foundation reimburses the college for personnel expenses related to services performed on behalf of the foundation.

Financial Statement Notes

SCHEDULE D, PART V, LINE 4:

The intended uses of the endowment fund are to support the mission of giovanni armenise-harvard foundation for scientific research, which encourages basic science research, both in the united states and in italy.

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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
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IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0HMS A DEPT OF PRESIDENT AND FELLOWS OF HARVARD COLLEGE
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IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0775408
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USES OF THE ENDOWMENT FUND ARE TO SUPPORT THE MISSION OF GIOVANNI ARMENISE-HARVARD FOUNDATION FOR SCIENTIFIC RESEARCH, WHICH ENCOURAGES BASIC SCIENCE RESEARCH, BOTH IN THE UNITED STATES AND IN ITALY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART V, LINE 4:
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe (Including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0RESEARCH AWARD
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IRS990ScheduleF/ForeignIndividualsGrantsGrp/TypeOfAssistanceTxt0Armenise Summer Fellowship
IRS990ScheduleF/ForeignIndividualsGrantsGrp/TypeOfAssistanceTxt1Career Development Award
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IRS990ScheduleF/SubtotalOfficesCnt01

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.5$2.73$82.7$3.60$3.16$0.44
2023Detailed filing. Detailed filing data is available for this year.$81.7$2.73$78.9$3.56$3.82$0.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.9$1.87$81.0$3.52$1.90$1.61
2021Detailed filing. Detailed filing data is available for this year.$87.3$2.40$84.9$3.12$2.55$0.57
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$69.0$2.98$66.0$3.28$2.92$0.36
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$67.5$2.77$64.7$3.19$2.85$0.34
2018Detailed filing. Detailed filing data is available for this year.$66.6$2.63$63.9$3.20$5.48$2.28
2017Summary only. Only limited summary data is available for this year.$65.7$2.04$63.7$3.32$6.07$2.75
2016Summary only. Only limited summary data is available for this year.$67.3$2.40$64.9$3.28$6.03$2.75
2015Summary only. Only limited summary data is available for this year.$75.4$2.53$72.8$3.23$6.36$3.13
2014Summary only. Only limited summary data is available for this year.$78.1$2.79$75.3$3.60$5.39$1.79
2013Summary only. Only limited summary data is available for this year.$73.3$2.78$70.5$3.28$5.38$2.10
2012Summary only. Only limited summary data is available for this year.$70.4$1.66$68.7$2.99$5.76$2.77
2011Summary only. Only limited summary data is available for this year.$75.2$0.29$74.9$3.17$3.13$0.04