Civic Intelligence

The Sealy & Smith Foundation

990 • Fiscal year 2020 • EIN 74-1109652

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 26, 2021

Organization ProfileSEALY-SMITH-FOUNDATION.ORG

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2200 Market Street Suite 500Galveston, TX 77550

(409) 762-8666

Siviq Scores

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

Liabilities / Assets

15th percentile

0.08x

Higher debt load relative to assets than 15% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Liabilities / Revenue

75th percentile

1.35x

Higher debt load relative to revenue than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Net Margin

97th percentile

73%

Higher net margin than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Top Officer Pay

5th percentile

$330,152

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $1B+ nonprofits • Source year 2020

Asset Growth

49th percentile

9.8%

Faster asset growth than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2019 to 2020

Revenue Growth

5th percentile

-36%

Faster revenue growth than 5% of similar nonprofits.

2020 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,512,427,384

Up $134,850,010 (+9.8%) from 2019

Net Assets

Up

$1,395,915,230

Up $136,751,032 (+11%) from 2019

Liabilities

Down

$116,512,154

Down $1,901,022 (-1.6%) from 2019

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin97th percentile

Revenue

Down

$86,559,144

Down $47,857,140 (-36%) from 2019

Expenses

Down

$23,013,090

Down $12,928,820 (-36%) from 2019

Net Income

Down

$63,546,054

Down $34,928,320 (-35%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$3.0B$2.0B$1.0B$0Assets 2011: $824,106,103Liabilities 2011: $155,795,808Net Assets 2011: $668,310,2952011Assets 2012: $904,047,795Liabilities 2012: $147,671,632Net Assets 2012: $756,376,1632012Assets 2013: $1,065,183,737Liabilities 2013: $139,551,386Net Assets 2013: $925,632,3512013Assets 2014: $1,106,811,568Liabilities 2014: $130,768,242Net Assets 2014: $976,043,3262014Assets 2015: $1,063,421,424Liabilities 2015: $184,022,014Net Assets 2015: $879,399,4102015Assets 2016: $1,122,191,581Liabilities 2016: $174,961,312Net Assets 2016: $947,230,2692016Assets 2017: $1,291,957,244Liabilities 2017: $159,136,187Net Assets 2017: $1,132,821,0572017Assets 2018: $1,172,758,493Liabilities 2018: $122,387,555Net Assets 2018: $1,050,370,9382018Assets 2019: $1,377,577,374Liabilities 2019: $118,413,176Net Assets 2019: $1,259,164,1982019Assets 2020: $1,512,427,384Liabilities 2020: $116,512,154Net Assets 2020: $1,395,915,2302020Assets 2021: $1,823,742,664Liabilities 2021: $144,680,456Net Assets 2021: $1,679,062,2082021Assets 2022: $1,674,903,989Liabilities 2022: $121,266,998Net Assets 2022: $1,553,636,9912022Assets 2023: $2,037,694,463Liabilities 2023: $98,970,475Net Assets 2023: $1,938,723,9882023Assets 2024: $2,305,818,243Liabilities 2024: $106,851,478Net Assets 2024: $2,198,966,7652024

Highlighted filing

2020

Assets$1,512,427,384
Liabilities$116,512,154
Net Assets$1,395,915,230
Open 2020 Filing

Operations Trend

Revenue Growth5th percentile

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

$200M$100M$0-$100MRevenue 2011: $56,946,919Expenses 2011: $128,633,008Net Income 2011: -$71,686,0892011Revenue 2012: $50,718,202Expenses 2012: $13,597,681Net Income 2012: $37,120,5212012Revenue 2013: $65,874,233Expenses 2013: $13,146,160Net Income 2013: $52,728,0732013Revenue 2014: $99,968,356Expenses 2014: $13,276,521Net Income 2014: $86,691,8352014Revenue 2015: $61,034,494Expenses 2015: $84,915,296Net Income 2015: -$23,880,8022015Revenue 2016: $43,898,579Expenses 2016: $17,679,343Net Income 2016: $26,219,2362016Revenue 2017: $90,579,317Expenses 2017: $25,236,518Net Income 2017: $65,342,7992017Revenue 2018: $97,546,927Expenses 2018: $12,798,573Net Income 2018: $84,748,3542018Revenue 2019: $134,416,284Expenses 2019: $35,941,910Net Income 2019: $98,474,3742019Revenue 2020: $86,559,144Expenses 2020: $23,013,090Net Income 2020: $63,546,0542020Revenue 2021: $193,760,950Expenses 2021: $59,944,232Net Income 2021: $133,816,7182021Revenue 2022: $158,734,221Expenses 2022: $31,756,764Net Income 2022: $126,977,4572022Revenue 2023: $130,847,488Expenses 2023: $30,063,602Net Income 2023: $100,783,8862023Revenue 2024: $135,743,625Expenses 2024: $57,722,709Net Income 2024: $78,020,9162024

Highlighted filing

2020

Revenue$86,559,144
Expenses$23,013,090
Net Income$63,546,054
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 26, 2021
Return Version
2020v4.0
Gross Receipts
$187,128,844
Mission and Program Overview

Mission

To provide for the construction,remodeling,equipping,and furnishing of the john sealy hospital and other hospital building or buildings in the city of galveston, tx, in connection with the john sealy hospital, and to provide for healthcare of citizens of galveston therein.

Support of the john sealy hospital / university of texas medical branch at galveston (utmb).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,065,951,749$1,164,294,555▲ $98,342,806
Investments Other Securities$190,392,761$219,071,129▲ $28,678,368
Savings and Temporary Cash Investments$74,044,740$77,190,837▲ $3,146,097
Land, Buildings, and Equipment, Net$4,588,351$8,514,593▲ $3,926,242
Accounts Receivable$915,219$861,904▼ $53,315
Prepaid Expenses and Deferred Charges$56,767$56,443▼ $324
Cash and Non-Interest-Bearing Accounts$50,250$50,250→ $0
Total Assets$1,377,577,374$1,512,427,384▲ $134,850,010
Other Assets Total$41,577,537$42,387,673▲ $810,136
Liabilities
Grants Payable$117,035,890$115,198,901▼ $1,836,989
Other Liabilities$1,081,648$1,080,190▼ $1,458
Accounts Payable and Accrued Expenses$191,764$155,300▼ $36,464
Deferred Revenue$103,874$77,763▼ $26,111
Total Liabilities$118,413,176$116,512,154▼ $1,901,022
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,259,164,198$1,395,915,230▲ $136,751,032
Total Net Assets Fund Balance$1,259,164,198$1,395,915,230▲ $136,751,032
Total Liabilities and Net Assets / Fund Balance$1,377,577,374$1,512,427,384▲ $134,850,010

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,000$632,987$642,987
Land$8,504,593--
Other Securities$75,219--
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Douglas G RogersExec Dir/ SeFT$284,000$46,152$330,152
Douglas G RogersExec Dir/ Sec/treas-$284,000$46,152$330,152
James S JobeAsst Sec/treFT$154,650$25,193$179,843
James S JobeAsst Sec/treasurer-$154,650$25,193$179,843
E J PedersonDirectorPT$54,000-$54,000
George SealyExec Vice-prPT$54,000-$54,000
James B GalbraithDirectorPT$54,000-$54,000
John EckelDirectorPT$54,000-$54,000
John W KelsoPresident/diPT$54,000-$54,000
Michael C DohertyDirectorPT$54,000-$54,000
J Fellman SeinsheimerVice-pres/diPT$36,000-$36,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Silchester International InvestorsInvest Managers780 THIRD AVENUE 42ND FLOOR, New York, NY 10017$578,098
Cambridge Associates LLCInvest Managers125 HIGH STREET, Boston, MA 02110$565,355
Focused Investors LLCInvest Managers1999 AVENUE OF THE STARS STE 3320, Los Angeles, CA 90067$378,632
Colchester Global Investors INCInvest Managers885 THIRD AVENUE 24TH FLOOR, New York, NY 10022$273,404
Edgbaston Asian Equity TrustInvest ManagersPO BOX 4766, Chicago, IL 60680-4766$223,002
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$61,100,001
Other Revenue
$25,459,143
Change in Net Assets
$63,546,054

Audited Revenue Reconciliation

Revenue per Audited Statements
$83,845,190
Revenue Not Reported on Financial Statements
$2,713,954
Revenue Not Reported on Form 990
$73,204,978
Total Revenue per Audited Statements
$157,050,168
Total Revenue per Form 990
$86,559,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$18,075,275
Other Expenses$3,764,160
Salaries, Compensation, and Employee Benefits$1,173,655
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$18,075,275--$18,075,275
Fees for Service Investment Mgmnt Fees-$2,713,954-$2,713,954
Current Officers, Directors, Trustees, and Key Employees-$798,650-$798,650
Other Salaries and Wages-$210,802-$210,802
Occupancy-$85,560-$85,560
Pension Plan Contributions-$65,885-$65,885
Fees for Services Accounting-$64,825-$64,825
Insurance-$62,883-$62,883
Other Employee Benefits-$59,886-$59,886
Fees for Services Other-$56,257-$56,257
Fees for Services Legal-$51,600-$51,600
Payroll Taxes-$38,432-$38,432
Office Expenses-$27,081-$27,081
Depreciation Depletion-$25,758-$25,758
Other Expenses-$9,481-$9,481
All Other Expenses-$2,745-$2,745
Conferences and Meetings-$1,981-$1,981
Total Functional Expenses$18,075,275$4,937,815$0$23,013,090

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,013,090
Expenses per Audited Statements$20,299,136
Total Expenses per Audited Statements$20,299,136
Expenses Not Reported on Financial Statements$2,713,954
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
John Sealy HospitalutmbGalveston, TX-See Attached Detail$16,487,868
The University of Texas Medical BraGalveston, TX-Primary Care Pavilio$592,399
The University of Texas Medical BraGalveston, TX-Utmb Human Resources$345,781
The University of Texas Medical BraGalveston, TX-Utmb Ophthalmology C$199,702
The University of Texas Medical BraGalveston, TX-Utmb Parking Lot & G$175,344
The University of Texas Medical BraGalveston, TX-R. Waverley Smith Pa$166,054
The University of Texas Medical BraGalveston, TX-Other Real Estate Ut$65,397
The University of Texas Medical BraGalveston, TX-West Clinic Property$42,730
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Magnolia Holding Co.$1,080,190
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of the foundation's form 990 is furnished to the board of directors for review prior to being filed.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy is reviewed annually during the january board of directors meeting and a written acknowledgement is completed by each director.”

Form 990, Page 6, Part VI, Line 15A

“Annually the organization's independent compensation committee reviews the compensation of the executive director. The committee uses comparable data from various nonprofit publications, including the council on foundations salary and benefit report, which provides compensation data. It also uses other nonprofits' forms 990. The executive director does not participate in the conversations and discussions about his own compensation. Detailed minutes of the compensation committee's meetings are maintained by the organization.”

Form 990, Page 6, Part VI, Line 15B

“Annually the organization's independent compensation committee reviews the compensation of the officers. The committee uses comparable data from various nonprofit publications, including the council on foundations salary and benefit report, which provides compensation data. It also uses other nonprofits' forms 990. Officers do not participate in the conversations and discussions about their own compensation. Detailed minutes of the compensation committee's meetings are maintained by the organization.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and audit report available to its supported organization, the john sealy hospital and the university of texas medical branch (utmb). Upon reasonable written request, the organization makes its governing documents conflict of interest policy, and financial statements available to the general public.”

Filing and Contact Details

Filer

Filer Name
The Sealy & Smith Foundation
EIN
74-1109652
Phone
4097628666
Address
2200 MARKET STREET SUITE 500, GALVESTON, TX 77550

Signing Officer

Name
Douglas G Rogers
Title
Exec Dir/ Sec/treas
Phone
4097628666
Signed
2021-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas G Rogers
Formed
1922
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
8

Preparer

Firm
Head Maxwell & Mckenna Llp
Address
2200 MARKET ST STE 401, GALVESTON, TX 77550
Preparer
John R Mckenna Jr
Phone
4097636479
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide for the construction, remodeling, equipping, and furnishing of the john sealy hospital and other hospital building or buildings in the city of galveston, tx, in connection with the john sealy hospital, and to provide for healthcare of citizens of galveston therein.”

Raw XML AppendixShowing 400 of 677 raw XML fields

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/ExplanationTxt0UTMB, THE SUPPORTED ORGANIZATION, IS NOT REQUIRED TO OBTAIN RECOGNITION OF ITS PUBLIC CHARITY STATUS SINCE IT IS A GOVERNMENTAL UNIT DESCRIBED IN IRC 170(B)(1)(A)(V). HOWEVER, THE ORGANIZATION HAS A COPY OF A LETTER, DATED OCTOBER 9, 1997, FROM THE IRS ACTING DISTRICT DIRECTOR STATING THAT THE UNIVERSITY OF TEXAS SYSTEM AND ALL OF ITS COMPONENT INSTITUTIONS, INCLUDING THE UNIVERSITY OF TEXAS MEDICAL BRANCH AT GALVESTON ("UTMB"), ARE DESCRIBED IN SECTIONS 170(B)(1)(A)(V) AND 170(C)(1) OF THE INTERNAL REVENUE CODE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1LEADERS FROM THE ORGANIZATION AND UTMB MEET ON A REGULAR BASIS TO DISCUSS UTMB'S ONGOING PROJECTS AND NEEDS. UTMB'S PRESIDENT REGULARLY ATTENDS THE ORGANIZATION'S BOARD OF DIRECTORS' MEETINGS, AS WELL AS MEETS MONTHLY WITH THE ORGANIZATION'S BOARD OF DIRECTORS' PRESIDENT. THE ORGANIZATION'S EXECUTIVE DIRECTOR MEETS OR SPEAKS WITH UTMB'S PRESIDENT OR OTHER EXECUTIVES AT LEAST MONTHLY IF NOT MORE OFTEN. IN FACT, THE ORGANIZATION'S ASSISTANT SECRETARY AND SECOND IN COMMAND SPENDS A SIGNIFICANT AMOUNT OF TIME EACH MONTH WORKING DIRECTLY ON UTMB MATTERS. FURTHER, MEMBERS OF THE ORGANIZATION'S STAFF FREQUENTLY MEET OR SPEAK WITH OTHER UTMB LEADERS AND/OR STAFF EACH WEEK ON A VARIETY OF MATTERS THAT ARE IMPORTANT TO UTMB, INCLUDING, BUT NOT LIMITED TO PATIENT ACCESS TO DOCTORS, IMPLEMENTING NEW PROGRAMS, THE PROPERTIES THAT THE ORGANIZATION MANAGES FOR UTMB AND THE GRANTS THAT THE ORGANIZATION MAKES TO UTMB. THE ORGANIZATION AND UTMB HAVE MAINTAINED A CLOSE AND CONTINUOUS WORKING RELATIONSHIP FOR ALMOST 100 YEARS, WHICH ALLOWS THE ORGANIZATION TO BE RESPONSIVE TO UTMB'S NEEDS AND REQUESTS. PART IV, SECTION D, LINE 3 THE ORGANIZATION'S INVESTMENT DECISIONS ARE INFLUENCED BY THE GRANT REQUESTS IT RECEIVES FROM UTMB. UTMB, A GOVERNMENTAL ENTITY, IS THE ONLY CHARITABLE ORGANIZATION OR SUPPORTED ORGANIZATION TO WHICH THE ORGANIZATION MAKES GRANTS. MANY OF THE GRANTS THE ORGANIZATION MAKES TO UTMB ARE FOR LARGE CAPITAL EXPENDITURES. LEADERS OF UTMB MEET WITH THE ORGANIZATION THROUGHOUT THE YEAR TO DISCUSS THE NEED FOR GRANTS AND THEIR TIMING WHICH ALLOWS THE ORGANIZATION TO CHOOSE INVESTMENTS BASED ON UTMB'S GRANT NEEDS. ALTHOUGH UTMB DID NOT DRAFT THE ORGANIZATION'S INVESTMENT POLICY, IT DOES HAVE A SIGNIFICANT VOICE IN THE TIMING OF GRANTS, DICTATING THE GRANTS' PAYMENT SCHEDULES, AND SELECTING WHICH UTMB DEPARTMENTS WILL RECEIVE GRANTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE ORGANIZATION IS A SUPPORTING ORGANIZATION TO UTMB, A GOVERNMENTAL ENTITY. THE ORGANIZATION WAS FORMED IN 1922 AND SINCE THAT TIME HAS MAINTAINED A CLOSE, CONTINUING AND HISTORIC RELATIONSHIP WITH UTMB. THE ORGANIZATION HAS CONTRIBUTED MORE THAN 961 MILLION TO SUPPORT MEDICAL EDUCATION AND THE DELIVERY OF HEALTHCARE AT UTMB, INCLUDING FUNDING FOR THE CONSTRUCTION OF UTMB'S HOSPITALS, ITS BIO-SAFETY LAB, STATE-OF-THE- ART MEDICAL EQUIPMENT, INCREASED CLINICAL STAFFING FOR PATIENTS, A HEART AND VASCULAR CENTER AND FUNDING FOR MEDICAL RESEARCH. THE ORGANIZATION IS ALSO THE LARGEST, SINGLE ENTITY CONTRIBUTOR TO A UNIVERSITY OF TEXAS SYSTEM INSTITUTION. THE ORGANIZATION, TOGETHER WITH UTMB, HAS PROVIDED THE VISION AND STRATEGIC DIRECTION THAT ALLOWS UTMB TO SERVE GALVESTON, THE STATE OF TEXAS AND THE NATION AS A PREMIER HEALTH INSTITUTION. THE ORGANIZATION AND UTMB'S LEADERS MEET ON A REGULAR BASIS TO DISCUSS UTMB'S ONGOING PROJECTS AND NEEDS, AS WELL AS PROVIDING COUNSEL DURING CONSTRUCTION OF MANY OF THE PROJECTS BUILT FOR UTMB. AS PREVIOUSLY STATED, THE ORGANIZATION'S BOARD MEETS AND CONSIDERS UTMB'S NEEDS WHEN MAKING INVESTMENT DECISIONS. THE ORGANIZATION ENGAGES IN MANY CHARITABLE ACTIVITIES ON BEHALF OF UTMB. FOR EXAMPLE, THE ORGANIZATION OWNS PROPERTY AND BUILDINGS THAT UTMB USES FOR ITS CHARITABLE AND EDUCATIONAL MISSION. THE ORGANIZATION OWNS, MAINTAINS AND MANAGES SEVERAL OF THESE PROPERTIES AND WORKS WITH UTMB TO ENSURE THAT THE UPKEEP OF THESE PROPERTIES MEETS UTMB'S EXPECTATIONS. FOR INSTANCE, THE ORGANIZATION PROVIDES THREE PATIENT CARE FACILITIES AT NO COST, INCLUDING INSURANCE COVERAGE AND MAINTENANCE FOR THE EXTERIOR ENVELOPE (WINDOWS, ROOFS, ETC.) / GROUNDS OF THE PROPERTIES AND MAJOR COMPONENTS SUCH AS EXTERIOR CLIMATE CONTROL EQUIPMENT. THESE PROPERTIES INCLUDE THE PRIMARY CARE PAVILION, R. WAVERLEY SMITH PAVILION AND UTMB OPHTHALMOLOGY/ OTOLARYNGOLOGY CENTER OF EXCELLENCE. THE ORGANIZATION ALSO PROVIDES, AT NO COST TO UTMB, FACILITIES ON CAMPUS FOR PARKING, INCLUDING A PARKING GARAGE AND PARKING LOT. THE UTMB HUMAN RESOURCES OFFICES, LOCATED IN A BUILDING OWNED BY THE ORGANIZATION, ARE ALSO MAINTAINED BY THE ORGANIZATION AT NO EXPENSE TO UTMB. DURING 2020, THE LEADERSHIP OF THE ORGANIZATION AND UTMB MET NUMEROUS TIMES VIA TELECONFERENCE TO DISCUSS PROGRAMS, COVID-19 AND UTMB'S FACILITIES FOR THE NEAR FUTURE. THE ORGANIZATION'S LEADERS AND UTMB'S LEADERSHIP CONTINUED TO COLLABORATE ON THE IMPLEMENTATION OF THE "PATIENT ACCESS INITIATIVE". SINCE IMPLEMENTATION AND PRIOR TO COVID-19, THE PATIENT ACCESS INITIATIVE HAD REDUCED NEW PATIENT WAIT TIMES FOR A GENERAL INTERNAL MEDICINE PHYSICIAN FROM 16 DAYS TO 8 DAYS, WITH 70% OF THE NEW PATIENTS BEING SEEN WITHIN 7 DAYS OF SCHEDULING. AS A RESULT OF THE PANDEMIC, THE SEARCH FOR THE SECOND INTERNAL MEDICINE PHYSICIAN WAS DELAYED UNTIL UTMB COULD RESUME NORMAL ACTIVITY IN ITS CLINICS. AS THE COVID PANDEMIC BEGAN TO SPREAD, THE ORGANIZATION STEPPED UP QUICKLY TO PROVIDE PIVOTAL EARLY SUPPORT OF BOTH THE UTMB PATIENT CARE AND RESEARCH ENTERPRISES. FOR THE RESEARCH TEAMS AT UTMB, THE ORGANIZATION'S EARLY SUPPORT MADE IT POSSIBLE TO PURCHASE CRITICAL NEW SCIENTIFIC INSTRUMENTS TO ENHANCE MUCH-NEEDED HIGH CONTAINMENT LABORATORY TECHNOLOGIES, AS WELL AS TO INVEST IN KEY PERSONNEL AND RESOURCES TO QUICKLY RAMP UP TARGETED CORONAVIRUS RESEARCH. THE ORGANIZATION'S SUPPORT MADE IT POSSIBLE FOR SCIENTISTS AT UTMB TO CREATE NEW DIAGNOSTIC TESTS, TO STUDY THE EFFECTIVENESS OF EXISTING ANTIVIRAL THERAPIES AGAINST THE NEW CORONAVIRUS, TO UNDERSTAND THE EVOLUTION OF NEW VARIANTS WITH INCREASED TRANSMISSION EFFICIENCY, AND TO FAST-TRACK THE DEVELOPMENT OF NEW THERAPIES AND VACCINES AGAINST COVID-19. THE ORGANIZATION'S SUPPORT FOR THE COVID REPOSITORY ALLOWED UTMB TO EFFECTIVELY MONITOR THE ARRIVAL INTO THE GALVESTON REGION OF SEVERAL SARS-COV-2 VARIANTS AND TO OPTIMIZE PATIENT TREATMENT BASED ON THIS SURVEILLANCE. PERHAPS MOST IMPORTANT TO UTMB, THE ORGANIZATION'S SUPPORT DURING THE P
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,512,427,384
Liabilities
$116,512,154
Net assets
$1,395,915,230
Revenue
$86,559,144
Expenses
$23,013,090
Net income
$63,546,054
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$2,306$107$2,199$136$57.7$78.0
2023Summary only. Only limited summary data is available for this year.$2,038$99.0$1,939$131$30.1$101
2022Summary only. Only limited summary data is available for this year.$1,675$121$1,554$159$31.8$127
2021Summary only. Only limited summary data is available for this year.$1,824$145$1,679$194$59.9$134
2020Detailed filing. Detailed filing data is available for this year.$1,512$117$1,396$86.6$23.0$63.5
2019Summary only. Only limited summary data is available for this year.$1,378$118$1,259$134$35.9$98.5
2018Summary only. Only limited summary data is available for this year.$1,173$122$1,050$97.5$12.8$84.7
2017Summary only. Only limited summary data is available for this year.$1,292$159$1,133$90.6$25.2$65.3
2016Summary only. Only limited summary data is available for this year.$1,122$175$947$43.9$17.7$26.2
2015Summary only. Only limited summary data is available for this year.$1,063$184$879$61.0$84.9$23.9
2014Summary only. Only limited summary data is available for this year.$1,107$131$976$100.0$13.3$86.7
2013Summary only. Only limited summary data is available for this year.$1,065$140$926$65.9$13.1$52.7
2012Summary only. Only limited summary data is available for this year.$904$148$756$50.7$13.6$37.1
2011Summary only. Only limited summary data is available for this year.$824$156$668$56.9$129$71.7