Civic Intelligence

San Diego Biomedical Research Institute

EIN 46-3481092 • 501(c)3 • San Diego, CA

Profile

The SDBRI mission is to find new ways to predict and prevent cancer, diabetes, autoimmune disease, neurological disorders and HIV infection, and to accelerate medical advances that maintain health and improve quality of life.

3525 John Hopkins CT Ste 200San Diego, CA 92121

www.sdbri.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.18x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

2.42x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

20th percentile

-8.0%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

70th percentile

$256,822

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

10th percentile

-11%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

72nd percentile

22%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$15,654,130

Down $1,895,341 (-11%) from 2023

Liabilities

Down

$18,489,781

Down $1,285,210 (-6.5%) from 2023

Net Assets

Down

-$2,835,651

Down $610,131 (-27%) from 2023

Revenue

Up

$7,629,808

Up $1,400,459 (+22%) from 2023

Expenses

Up

$8,239,939

Up $845,932 (+11%) from 2023

Net Income

Up

-$610,131

Up $554,527 (+48%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$10M$0-$10MAssets 2014: $154,764Liabilities 2014: $154,514Net Assets 2014: $2502014Assets 2015: $430,335Liabilities 2015: $409,990Net Assets 2015: $20,3452015Assets 2016: $230,345Liabilities 2016: $205,468Net Assets 2016: $24,8772016Assets 2017: $157,091Liabilities 2017: $120,316Net Assets 2017: $36,7752017Assets 2018: $428,284Liabilities 2018: $404,136Net Assets 2018: $24,1482018Assets 2019: $691,169Liabilities 2019: $553,013Net Assets 2019: $138,1562019Assets 2020: $931,167Liabilities 2020: $672,340Net Assets 2020: $258,8272020Assets 2021: $909,214Liabilities 2021: $667,777Net Assets 2021: $241,4372021Assets 2022: $931,015Liabilities 2022: $1,991,877Net Assets 2022: -$1,060,8622022Assets 2023: $17,549,471Liabilities 2023: $19,774,991Net Assets 2023: -$2,225,5202023Assets 2024: $15,654,130Liabilities 2024: $18,489,781Net Assets 2024: -$2,835,6512024

Highlighted filing

2024

Assets$15,654,130
Liabilities$18,489,781
Net Assets-$2,835,651

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2014: $393,839Expenses 2014: $393,589Net Income 2014: $2502014Revenue 2015: $2,585,270Expenses 2015: $2,565,175Net Income 2015: $20,0952015Revenue 2016: $2,854,685Expenses 2016: $2,850,153Net Income 2016: $4,5322016Revenue 2017: $2,540,856Expenses 2017: $2,528,958Net Income 2017: $11,8982017Revenue 2018: $2,616,405Expenses 2018: $2,629,032Net Income 2018: -$12,6272018Revenue 2019: $4,158,429Expenses 2019: $4,044,421Net Income 2019: $114,0082019Revenue 2020: $5,289,061Expenses 2020: $5,168,390Net Income 2020: $120,6712020Revenue 2021: $5,504,252Expenses 2021: $5,521,642Net Income 2021: -$17,3902021Revenue 2022: $5,457,678Expenses 2022: $6,759,977Net Income 2022: -$1,302,2992022Revenue 2023: $6,229,349Expenses 2023: $7,394,007Net Income 2023: -$1,164,6582023Revenue 2024: $7,629,808Expenses 2024: $8,239,939Net Income 2024: -$610,1312024

Highlighted filing

2024

Revenue$7,629,808
Expenses$8,239,939
Net Income-$610,131

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 1, 2025
Return Version
2023v6.0
Gross Receipts
$7,629,808
Mission and Program Overview

Mission

The SDBRI mission is to find new ways to predict and prevent cancer, diabetes, autoimmune disease, neurological disorders and HIV infection, and to accelerate medical advances that maintain health and improve quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,111,958$883,731▼ $228,227
Loans From Officers Directors$200,000$240,000▲ $40,000
Land, Buildings, and Equipment, Net$308,160$219,823▼ $88,337
Cash and Non-Interest-Bearing Accounts$49,152$171,547▲ $122,395
Prepaid Expenses and Deferred Charges$18,448$15,066▼ $3,382
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$17,549,471$15,654,130▼ $1,895,341
Other Assets Total$16,061,753$14,363,963▼ $1,697,790
Liabilities
Other Liabilities$17,737,664$16,141,208▼ $1,596,456
Accounts Payable and Accrued Expenses$1,052,551$1,043,732▼ $8,819
Deferred Revenue$334,453$707,066▲ $372,613
Mortgage Notes Payable Secured by Investment Property$300,323$229,216▼ $71,107
Unsecured Notes Loans Payable$150,000$128,559▼ $21,441
Total Liabilities$19,774,991$18,489,781▼ $1,285,210
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,225,520$-2,835,651▼ $610,131
Total Net Assets Fund Balance$-2,225,520$-2,835,651▼ $610,131
Total Liabilities and Net Assets / Fund Balance$17,549,471$15,654,130▼ $1,895,341

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$219,823$461,785$681,608
Other Assets Org$14,217,943--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joanna DaviesPresident & CEOFT$215,768$41,054$256,822
David GilbertProfessorFT$202,098$31,067$244,165
James BinleyProfessorFT$196,495$46,768$243,263
Bruno ContiRofessorFT$181,000$22,009$192,009
Roberto BaccalaAssoc ProfessorFT$148,875$33,906$182,781
David MilnerProfessorFT$118,211$38,821$157,032
Takanori Otomo PhdAssoc ProfessorFT$112,795$26,228$139,023
Christine AucielloAccting MgrFT$91,638$25,560$117,198
Takayo SasakiSr Staff ScientistFT$92,398$18,760$111,158

Board Members and Trustees

NameTitle
Jake SuttonDirector
Mark HargreavesDirector
Richard WoltmanDirector
Scot GinsburgDirector
Sheila FergusonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,543,672
Program Service Revenue
$86,136
Investment Income
$0
Other Revenue
$0
All Other Contributions
$35,019
Change in Net Assets
$-610,131

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,629,808
Total Revenue per Audited Statements
$7,629,808
Total Revenue per Form 990
$7,629,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,027,554
Salaries, Compensation, and Employee Benefits$3,212,385
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$2,851,555$149,935-$3,001,490
Other Salaries and Wages$1,564,214$23,590-$1,587,804
Current Officers, Directors, Trustees, and Key Employees$902,080$41,258-$943,338
Other Employee Benefits$315,781$3,843-$319,624
Fees for Services Other$198,896$8,370-$207,266
Payroll Taxes$176,599$4,643-$181,242
Pension Plan Contributions$175,756$4,621-$180,377
Depreciation Depletion$165,332$8,702-$174,034
Information Technology$82,904$5,060-$87,964
Other Expenses$50,199$2,605-$52,804
Travel$44,463$2,360-$46,823
Office Expenses$44,725$1,495-$46,220
Fees for Services Accounting$1,361$30,571-$31,932
Insurance$29,720$1,564-$31,284
Fees for Services Legal$18,589$12,111-$30,700
All Other Expenses$14,850$670-$15,520
Fees for Services Management-$11,985-$11,985
Total Functional Expenses$7,857,666$382,273$0$8,239,939

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,239,939
Total Expenses per Audited Statements$8,239,939
Total Expenses per Form 990$8,239,939
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Indirect - PresReimbursement of expensesNo$374,173

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$200,000$240,000▲ $40,000
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$15,717,378
Due to Affiliate$369,673
Finance lease liability$54,157
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Form 990, its accompanying schedules and statements, and its corresponding stateinformation return are reviewed by the Board of Directors in advance of filing.Trustees have ample opportunity to ask questions and confirm their understanding andacceptance of the returns.

Form 990, Part VI, Section B, Line 12C

All decisions made by the Board of Directors are reviewed and assessed vis-a-vis theorganization's conflict of interest policy to determine any potential and/or actualconfilcts of interest. Interested trustees recuse themselves from discussion andvoting on any matter where a conflict of interest is determined to exist.

Form 990, Part VI, Section B, Line 15A

The process for determining the compensation of the CEO includes review andapproval by the Board of Directors, review of comparability data, andcontemporaneous substantiation. The Board of Directors' decision, inthis regard, is documented in the board minutes.

Form 990, Part VI, Section B, Line 15B

The process for determining the compensation of other officers and key employees includs review and approval by the Board of Directors, review of comparability data, and contemporaneous substantiation. The Board of Directors' decision, inthis regard, is documented in meeting minutes.

Form 990, Part VI, Section C, Line 19

The institute makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
San Diego Biomedical Research Institute
EIN
46-3481092
Phone
8582007156
Address
3525 JOHN HOPKINS CT STE 200, SAN DIEGO, CA 92121

Signing Officer

Name
Joanna Davies
Title
President & CEO
Signed
2025-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joanna Davies
Formed
2013
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
5
Employees
38

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108
Preparer
Jill Branch
Phone
6192947200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Multiple Sclerosis:Multiple Sclerosis is a debilitating autoimmune disease in which immune cells travel to the brain and spinal cord and destroy the protective coating that surrounds nerve fibers. Without the protective coating nerves are unable to send messages to different parts of the body and this causes an array of disorders including numbness in hands and feet, muscle weakness, fatigue, and blurred vision. It is estimated that there are 2.3 million people with MS worldwide. The goal of our cutting-edge research at SDBRI is to identify ways to manipulate and strengthen blood vessels so that the cells that cause multiple sclerosis (MS) are unable to enter the brain. In particular we seek to understand how the integrity of blood vessels in the brain is regulated by: (i) proteins of the extracellular matrix (ECM) that surround cells, and (ii) environmental stimuli such as mild hypoxia. By understanding these mechanisms, we can design new therapeutic approaches aimed at increasing blood supply and reducing vascular leak, thereby making blood vessels better equipped to protect against neurological damage. A Staff Scientist from Bangladesh and a Postdoctoral Fellow from Nepal received salary & benefits while being trained at SDBRI in cellular, molecular and biochemical techniques to learn how blood vessels can be strengthened and repaired and how we can use that information to stop and reverse MS. OTHER PROGRAM SERVICES 5: SYSTEMATIC LUPUS ERYTHEMATOSUS (SLE):SLE is caused by the immune system as it attacks the bodys tissue. Although there is a clear genetic predisposition to SLE, environmental factors also contribute to disease development. Ongoing work at SDBRI is focused on how genetic factors combine with virus infection and silica inhalation to cause SLE. It is hoped that understanding how the combination of these elements contribute to the development of SLE will provide information that can be used to develop therapies that block these interactions and the resulting disease. OTHER PROGRAM SERVICES 6: Parkinsons Disease:Parkinsons disease (PD) is a neurodegenerative disorder that affects approximately 1% of the population over the age of 60. In the U.S. alone about 50,000 new cases are reported annually. It is believed that PD is caused by a combination of environmental and genetic factors. Scientists at SDBRI are working on the idea that allergic reactions represent an important environmental component in making people more susceptible to the development of PD. If this is true, components of the allergic response might be used as novel therapeutic targets to prevent PD or reduce its progression.

Financial Statement Notes

Part X : FIN48 Footnote

The Institute believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

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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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IRS990/Desc0Cancer:A major question in cancer treatment remains, why do some people respond to treatment and others dont. Finding new ways to detect and treat cancer could potentially lead to cures that are currently unavailable to a majority of patients. At SDBRI scientists are developing a new technology to identify previously unidentifiable cancer-specific targets that might be used to design novel cancer fighting drugs. A Postdoctoral Fellow from India received salary and benefits while being trained at SDBRI in a variety of cellular immunology and sterile techniques to better understand techniques to help diagnose and treat cancer.DNA replication and disease DNA replicates in a highly organized way in healthy cells. However, in unhealthy cells, DNA replication is mis-regulated. SDBRI scientists are working to understand how DNA replication is mis-regulated in human disease in the hopes of finding new therapeutic approaches to preventing and reversing diseases such as cancer.Cells in our bodies eat internal parts of themselves to maintain their own health. This process, known as autophagy (spokeno-to-foh-jee), is essential for removing toxic material that causes diseases such as neurodegeneration and cancer. In autophagy, components inside cells are placed in a trash bag called the autophagosome which looks like a balloon. The autophagosome then fuses with the cells incinerator to decompose the transported toxic material. Scientists at SDBRI are working to understand how these complicated events are controlled in the hopes that interventions in these pathways might lead to novel treatments for disease.
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