Civic Intelligence

Ralph W & Grace M Showalter Research Trust Fund

990 • Fiscal year 2023 • EIN 23-7313242

Jun 01, 2022 to May 31, 2023 • Filed on Feb 23, 2024

10 S Dearborn Il1-0111Chicago, IL 60603

(800) 496-2583

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

11th percentile

$75,376

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

32nd percentile

1.2%

Faster asset growth than 32% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

9th percentile

-37%

Faster revenue growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$45,259,081

Up $535,331 (+1.2%) from 2022

Net Assets

Up

$45,259,081

Up $535,331 (+1.2%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Down

$2,765,636

Down $1,657,409 (-37%) from 2022

Expenses

Down

$2,234,369

Down $216,879 (-8.8%) from 2022

Net Income

Down

$531,267

Down $1,440,530 (-73%) from 2022

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $31,371,315Liabilities 2010: $0Net Assets 2010: $31,371,3152010Assets 2011: $31,842,504Liabilities 2011: $0Net Assets 2011: $31,842,5042011Assets 2012: $32,004,583Liabilities 2012: $0Net Assets 2012: $32,004,5832012Assets 2018: $41,451,759Liabilities 2018: $0Net Assets 2018: $41,451,7592018Assets 2019: $40,802,208Liabilities 2019: $0Net Assets 2019: $40,802,2082019Assets 2020: $40,182,961Liabilities 2020: $0Net Assets 2020: $40,182,9612020Assets 2021: $42,749,475Liabilities 2021: $0Net Assets 2021: $42,749,4752021Assets 2022: $44,723,750Liabilities 2022: $0Net Assets 2022: $44,723,7502022Assets 2023: $45,259,081Liabilities 2023: $0Net Assets 2023: $45,259,0812023Assets 2024: $45,303,762Liabilities 2024: $0Net Assets 2024: $45,303,7622024Assets 2025: $46,103,505Liabilities 2025: $0Net Assets 2025: $46,103,5052025

Highlighted filing

2023

Assets$45,259,081
Liabilities$0
Net Assets$45,259,081

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,675,0312010Expenses 2011: $1,644,7232011Expenses 2012: $1,642,6572012Revenue 2018: $3,329,597Expenses 2018: $2,290,962Net Income 2018: $1,038,6352018Revenue 2019: $2,625,687Expenses 2019: $2,317,874Net Income 2019: $307,8132019Revenue 2020: $1,697,009Expenses 2020: $2,322,218Net Income 2020: -$625,2092020Revenue 2021: $4,886,868Expenses 2021: $2,327,140Net Income 2021: $2,559,7282021Revenue 2022: $4,423,045Expenses 2022: $2,451,248Net Income 2022: $1,971,7972022Revenue 2023: $2,765,636Expenses 2023: $2,234,369Net Income 2023: $531,2672023Revenue 2024: $2,456,510Expenses 2024: $2,379,066Net Income 2024: $77,4442024Revenue 2025: $3,266,613Expenses 2025: $2,466,900Net Income 2025: $799,7132025

Highlighted filing

2023

Revenue$2,765,636
Expenses$2,234,369
Net Income$531,267
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Feb 23, 2024
Return Version
2022v5.0
Gross Receipts
$9,967,849
Mission and Program Overview

Mission

To provide for medical and scientific research at indiana and purdue university

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$44,723,750$45,259,081▲ $535,331
Investments in Publicly Traded Securities$44,294,152$45,003,851▲ $709,699
Savings and Temporary Cash Investments$421,458$240,159▼ $181,299
Cash and Non-Interest-Bearing Accounts$8,140$15,071▲ $6,931
Total Assets$44,723,750$45,259,081▲ $535,331
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$44,723,750$45,259,081▲ $535,331
Total Liabilities and Net Assets / Fund Balance$44,723,750$45,259,081▲ $535,331
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
-TrusteePT$75,376$75,376
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,765,636
Other Revenue
$0
Change in Net Assets
$531,267
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,892,739
Salaries, Compensation, and Employee Benefits$253,047
Other Expenses$88,583
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,892,739--$1,892,739
Current Officers, Directors, Trustees, and Key Employees$75,376$177,671-$253,047
Fees for Services Other$50,000--$50,000
Other Expenses-$1,174-$1,174
Total Functional Expenses$2,018,115$216,254$0$2,234,369
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Indiana UniversityIndianapolis, IN501(c)(3)Program Support$947,739
Purdue UniversityWest Lafayette, IN501(c)(3)Program Support$945,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11-description of Process for Review

Trustee reviews all underlying monetary and factual information before the irs form 990 is filed.

Form 990, Page 6, Part VI, Line 19

As trustee, jp morgan chase bank na maintains a close and continuous working relationship with the officers of the supported organization.the governing documents are not available to the general public, but have been given and are available to all interested parties such as beneficiaries, trustees, executors, etc. Jp morgan chase bank na does not have a public conflict of interest policy. However, the governing documents and state law impose limitations of trustee powers that jp morgan chase bank na strictly follows. Financial statements are sent to each charitable beneficiary for review and comment.

Filing and Contact Details

Filer

Filer Name
Ralph W & Grace M Showalter Research Tr
EIN
23-7313242
Phone
8004962583
Address
10 S DEARBORN IL1-0111, CHICAGO, IL 60603

Signing Officer

Name
Krystal Zec
Title
Vice President
Phone
8004962583
Signed
2024-02-23
Discuss with paid preparer
Yes

Organization Details

Formed
1970
Legal Domicile
In
Voting Board Members
1
Independent Board Members
0
Employees
0

Preparer

Firm
Ernst & Young US Llp
Address
99 WOOD AVE SOUTH, ISELIN, NJ 08830
Preparer
Heather a Hawes
Phone
7327679100
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

Mutual fund adjustment: ($51.50);cost basis adjustment: ($161.51); accrued int paid: $206.58; 2021 transactions posted in 2022: ($346.56); 2022 transactions posted in 2023: $ 329.03 ; cash amt in nqsi oid: 4,079.26 ; rounding $9

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE TRUSTEE MAINTAINS A CLOSE AND CONTINUOUS RELATIONSHIP WITH THE SUPPORTED ORGANIZATIONS THROUGH AN ADVISORY COMMITTEE. THE COMMITTEE MEMBERS HAVE CURRENT OR PREVIOUS ROLES WITH THE SUPPORTED ORGANIZATION AND HOLDS REGULAR MEETINGS REGARDING GRANT APPLICANTS AND RECIPIENTS, FROM WHICH THEY CHOOSE FROM A LIST PROVIDED BY THE UNIVERSITIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ADVISORY COMMITTEE MEMBERS CHOOSE GRANT RECIPIENTS FROM A LIST OF APPLICATIONS PROVIDED BY THE UNIVERSITIES. THE TRUST WORKS WITH INDIANA UNIVESITY AND PURDUE UNIVERSITY TO OBTAIN GRANT APPLICANTS AND RECIPIENTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE TRUST IS DISTRIBUTING TO ITS SUPPORTED ORGANIZATIONS IN ACCORDANCE WITH ITS TRUST DOCUMENT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt3WHILE THE SUPPORTED ORGANIZATION RELIES ON THE EXPERIENCE AND EXPERTISE OF THE INSTITUTIONAL TRUSTEE TO INVEST AND MANAGE THE INVESTMENTS IN THE TRUST, DUE TO THE CLOSE AND CONTINOUS RELATIONSHIP, THE SUPPORTED ORGANIZATION HAS A SIGNIFICANT VOICE IN INVESTMENT DECISIONS.
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IRS990ScheduleA/MinimumAssetAmountGrp/AdjustedFMVLessIndebtednessGrp/PriorYearAmt055545827
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/CurrentYearAmt0539529
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/PriorYearAmt0880609
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/CurrentYearAmt048340960
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/PriorYearAmt054665218
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/CurrentYearAmt0733207
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt0833187
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt048147282
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt054712640
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt01685155
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt01914942
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/CurrentYearAmt048880489
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt055545827
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/CurrentYearAmt01685155
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt01914942
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrganizationsTotalCnt02
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IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROGRAM SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PROGRAM SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0INDIANA UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1PURDUE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine2Txt0SCHOOL OF MEDICINE
IRS990ScheduleI/RecipientTable/RecipientEIN0356021513
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1610 PURDUE MALL HOVDE HALL
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IRS990ScheduleI/RecipientTable/USAddress/CityNm1WEST LAFAYETTE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0TRUST ACCOUNTING RECORDS ARE MAINTAINED IN A DEDICATED TRUST ACCOUNTING SYSTEM. REPORTS ARE REGULARLY OBTAINED FROM THIS SYSTEM. TRUST ADMINISTRATORS FOLLOW THE RULES AND REGULATIONS GOVERNING CONTINUITY AND MAINTENANCE OF EXEMPT STATUS WHILE ALSO CARRYING OUT INDIVIDUAL TRUSTOR INTENT. DUTIES INCLUDE ANNUAL TRUST REVIEW, ISSUING REPORTS, IDENTIFYING CHARITABLE RECIPIENTS, RESEARCHING TAX STATUS OF POTENTIAL CHARITABLE RECIPIENTS, AND MAKING NECESSARY INCOME DISTRIBUTIONS FROM EACH TRUST.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TRUSTEE REVIEWS ALL UNDERLYING MONETARY AND FACTUAL INFORMATION BEFORE THE IRS FORM 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS TRUSTEE, JP MORGAN CHASE BANK NA MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE OFFICERS OF THE SUPPORTED ORGANIZATION.THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC, BUT HAVE BEEN GIVEN AND ARE AVAILABLE TO ALL INTERESTED PARTIES SUCH AS BENEFICIARIES, TRUSTEES, EXECUTORS, ETC. JP MORGAN CHASE BANK NA DOES NOT HAVE A PUBLIC CONFLICT OF INTEREST POLICY. HOWEVER, THE GOVERNING DOCUMENTS AND STATE LAW IMPOSE LIMITATIONS OF TRUSTEE POWERS THAT JP MORGAN CHASE BANK NA STRICTLY FOLLOWS. FINANCIAL STATEMENTS ARE SENT TO EACH CHARITABLE BENEFICIARY FOR REVIEW AND COMMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MUTUAL FUND ADJUSTMENT: ($51.50);COST BASIS ADJUSTMENT: ($161.51); ACCRUED INT PAID: $206.58; 2021 TRANSACTIONS POSTED IN 2022: ($346.56); 2022 TRANSACTIONS POSTED IN 2023: $ 329.03 ; CASH AMT IN NQSI OID: 4,079.26 ; ROUNDING $9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2EXPLANATION FOR FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1EDUCATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt15
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1610 PURDUE MALL HOVDE HALL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0INDIANAPOLIS
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0947739
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1945000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt044723750
IRS990/TotalAssetsEOYAmt045259081
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IRS990/TotalAssetsGrp/EOYAmt045259081
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0216254
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02018115
IRS990/TotalFunctionalExpensesGrp/TotalAmt02234369
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02018115
IRS990/TotalReportableCompFromOrgAmt075376
IRS990/TotalRevenueGrp/ExclusionAmt02765636
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02765636
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt044723750
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt045259081

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