Civic Intelligence

Kelsey Research Foundation

990 • Fiscal year 2018 • EIN 76-0637670

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 29, 2019

Organization ProfileWWW.KELSEYRESEARCH.COM
5615 Kirby Drive 660Houston, TX 77005

(713) 442-1222

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.02x

Higher debt load relative to assets than 23% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

36th percentile

0.09x

Higher debt load relative to revenue than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

62nd percentile

7.6%

Higher net margin than 62% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

82nd percentile

$232,316

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

36th percentile

-1.5%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

92nd percentile

73%

Faster revenue growth than 92% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$9,108,729

Down $136,132 (-1.5%) from 2017

Net Assets

Down

$8,925,259

Down $124,382 (-1.4%) from 2017

Liabilities

Down

$183,470

Down $11,750 (-6.0%) from 2017

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin62nd percentile

Revenue

Up

$1,985,076

Up $837,767 (+73%) from 2017

Expenses

Down

$1,833,724

Down $150,829 (-7.6%) from 2017

Net Income

Up

$151,352

Up $988,596 (+118%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$15M$10M$5.0M$0Assets 2010: $4,049,815Liabilities 2010: $196,518Net Assets 2010: $3,853,2972010Assets 2011: $3,903,821Liabilities 2011: $212,706Net Assets 2011: $3,691,1152011Assets 2012: $3,992,357Liabilities 2012: $247,391Net Assets 2012: $3,744,9662012Assets 2013: $9,160,372Liabilities 2013: $223,628Net Assets 2013: $8,936,7442013Assets 2014: $8,978,408Liabilities 2014: $231,652Net Assets 2014: $8,746,7562014Assets 2015: $8,441,747Liabilities 2015: $137,664Net Assets 2015: $8,304,0832015Assets 2016: $8,859,557Liabilities 2016: $138,354Net Assets 2016: $8,721,2032016Assets 2017: $9,244,861Liabilities 2017: $195,220Net Assets 2017: $9,049,6412017Assets 2018: $9,108,729Liabilities 2018: $183,470Net Assets 2018: $8,925,2592018Assets 2019: $9,666,062Liabilities 2019: $178,687Net Assets 2019: $9,487,3752019Assets 2020: $9,645,636Liabilities 2020: $356,737Net Assets 2020: $9,288,8992020Assets 2021: $10,072,702Liabilities 2021: $230,524Net Assets 2021: $9,842,1782021Assets 2022: $9,706,530Liabilities 2022: $617,386Net Assets 2022: $9,089,1442022Assets 2023: $10,456,386Liabilities 2023: $571,300Net Assets 2023: $9,885,0862023Assets 2024: $10,484,334Liabilities 2024: $707,297Net Assets 2024: $9,777,0372024

Highlighted filing

2018

Assets$9,108,729
Liabilities$183,470
Net Assets$8,925,259
Open 2018 Filing

Operations Trend

Revenue Growth92nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $2,346,709Expenses 2010: $2,256,225Net Income 2010: $90,4842010Revenue 2011: $2,139,624Expenses 2011: $2,234,490Net Income 2011: -$94,8662011Revenue 2012: $1,814,833Expenses 2012: $1,896,265Net Income 2012: -$81,4322012Revenue 2013: $6,610,044Expenses 2013: $1,780,876Net Income 2013: $4,829,1682013Revenue 2014: $1,713,053Expenses 2014: $1,942,971Net Income 2014: -$229,9182014Revenue 2015: $1,627,823Expenses 2015: $1,945,690Net Income 2015: -$317,8672015Revenue 2016: $1,947,154Expenses 2016: $1,752,904Net Income 2016: $194,2502016Revenue 2017: $1,147,309Expenses 2017: $1,984,553Net Income 2017: -$837,2442017Revenue 2018: $1,985,076Expenses 2018: $1,833,724Net Income 2018: $151,3522018Revenue 2019: $1,864,381Expenses 2019: $1,936,193Net Income 2019: -$71,8122019Revenue 2020: $2,235,663Expenses 2020: $2,724,233Net Income 2020: -$488,5702020Revenue 2021: $2,621,345Expenses 2021: $2,295,369Net Income 2021: $325,9762021Revenue 2022: $2,811,248Expenses 2022: $2,419,840Net Income 2022: $391,4082022Revenue 2023: $3,647,155Expenses 2023: $2,791,490Net Income 2023: $855,6652023Revenue 2024: $3,591,902Expenses 2024: $3,723,915Net Income 2024: -$132,0132024

Highlighted filing

2018

Revenue$1,985,076
Expenses$1,833,724
Net Income$151,352
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 29, 2019
Return Version
2018v3.1
Gross Receipts
$5,133,037
Mission and Program Overview

Mission

Kelsey research foundation was founded in 1956 for the purpose of encouraging and assisting research and education programs in the field of medicine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,755,708$7,419,235▲ $2,663,527
Cash and Non-Interest-Bearing Accounts$4,265,823$1,339,706▼ $2,926,117
Accounts Receivable$175,613$204,344▲ $28,731
Pledges and Grants Receivable-$126,591-
Land, Buildings, and Equipment, Net$14,159$10,983▼ $3,176
Prepaid Expenses and Deferred Charges$33,558$4,162▼ $29,396
Other Notes and Loans Receivable, Net-$1,365-
Total Assets$9,244,861$9,108,729▼ $136,132
Other Assets Total-$2,343-
Liabilities
Accounts Payable and Accrued Expenses$153,304$152,196▼ $1,108
Other Liabilities$41,916$31,274▼ $10,642
Total Liabilities$195,220$183,470▼ $11,750
Net Assets / Fund Balance
Unrestricted Net Assets$7,452,651$6,895,671▼ $556,980
Temporarily Rstr Net Assets$1,049,238$2,029,588▲ $980,350
Permanently Rstr Net Assets$547,752--
Total Net Assets Fund Balance$9,049,641$8,925,259▼ $124,382
Total Liabilities and Net Assets / Fund Balance$9,244,861$9,108,729▼ $136,132

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,608$65,921$72,529
Equipment$4,375$34,769$39,144
Leasehold Improvements-$4,872$4,872

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,759,633$2,935,199▼ $249,568-$7,424,865
2017$4,028,360-▲ $751,395-$4,759,633
2016$3,795,119$1,425▲ $251,260-$4,028,360
2015$3,292,649$554,751▼ $35,432-$3,795,119
2014$3,620,209$-444,015▲ $134,162-$3,292,649
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Herbert Dupont MdPresident &FT$232,316$232,316
Herbert Dupont MdPresident & CEO-$232,316$232,316
Ashley AlexanderVice PresideFT$125,598$125,598

Board Members and Trustees

NameTitle
Richard CarrellChair, Legal
John T CaterChair, Nom C
John Wilson KelseyChairman
Robert Wier KelseyVice Chairma
Michael E Newmark MdMed Director
Amanda MountMember
David E Mouton MdMember
Earl BeardMember
Edward C Lynch MdMember
George D Ferry MdMember
James C HoyleMember
James KemperMember
John N LyleMember
Jonathan Nelson MdMember
Nancy E WebbMember
Ned Snyder MdMember
P Kay ChampionMember
Patrick M CarterMember
Robert J GaudetteMember
Ron MillardMember
Shelly MulanaxMember
Spencer Berthelsen MdMember
Tony Lin MdMember
Vicki SmithMember
Revenue and Support

Revenue Composition

Contributions and Grants
$1,370,746
Program Service Revenue
$0
Investment Income
$26,839
Other Revenue
$587,491
All Other Contributions
$1,370,746
Change in Net Assets
$151,352

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,985,076
Revenue Not Reported on Form 990
$-68,839
Total Revenue per Audited Statements
$1,916,237
Total Revenue per Form 990
$1,985,076
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,187,234
Other Expenses$646,490
Total Fundraising Expense$91,972
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$431,572$149,409$68,634$649,615
Current Officers, Directors, Trustees, and Key Employees$75,359$282,555-$357,914
Fees for Services Other$94,355$46,128-$140,483
Occupancy-$137,637-$137,637
Other Employee Benefits$64,693$50,933$6,543$122,169
Payroll Taxes$29,732$23,593$4,211$57,536
Advertising$18,236$16,960-$35,196
Travel$30,588$9$3,508$34,105
All Other Expenses$2,753$9,691$2,581$15,025
Other Expenses$5,428$6,377$758$11,805
Office Expenses$2,364$3,645$2,037$8,046
Fees for Services Accounting$6,701--$6,701
Insurance-$6,569-$6,569
Depreciation Depletion$1,634$1,310$232$3,176
Total Functional Expenses$970,932$770,820$91,972$1,833,724

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,040,619
Expenses per Audited Statements$1,833,724
Total Expenses per Form 990$1,833,724
Expenses Not Reported on Form 990$206,895
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$794,386
Fundraising Direct Expenses$206,895
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Krf Annual Dinn$431,175$431,175$128,072$303,103
Golf Tournament$314,679$314,679$78,823$235,856
Total Events$794,386$794,386$206,895$587,491
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Vacation and Other$31,274
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 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, Page 6, Part VI, Line 2

“Two board members related to founder”

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

“The executive director performs a review of the 990 with input from the finance committee.”

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

“Organization monitors conflicts of interest through periodic reviews and annual disclosure of potential conflicts of interest.”

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

“The executive committee reviews and approves the compensation for the ceo and executive director.”

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

“The executive director consults with the human resources department at kelsey-seybold clinic to review and approve compensation for all foundation staff.”

Form 990, Page 6, Part VI, Line 18

“Additional information may be obtained at: www.guidestar.org.”

Form 990, Page 6, Part VI, Line 19

“Upon request, kelsey research foundation will provide copies of governing documents, policies, and financial statements to the public.”

Filing and Contact Details

Filer

Filer Name
Kelsey Research Foundation
EIN
76-0637670
Phone
7134421222
Address
5615 KIRBY DRIVE 660, HOUSTON, TX 77005

Signing Officer

Name
Herbert Dupont Md
Title
President & CEO
Phone
7134421222
Signed
2019-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Herbert Dupont Md
Formed
1956
Legal Domicile
TX
Voting Board Members
25
Independent Board Members
23
Employees
0
Volunteers
1

Preparer

Firm
Gomez & Company
Address
5177 RICHMOND AVE STE 1100, HOUSTON, TX 77056-6748
Preparer
Benjamin P Gomez
Phone
7136665900
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Direct fundraising expenses 206,895 direct fundraising expenses -206,895”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Direct fundraising expenses 206,895”

Schedule D, Page 4, Part XII, Line 2D

“Direct fundraising expenses 206,895”

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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/Form990PartVIISectionAGrp/PersonNm21P KAY CHAMPION
IRS990/Form990PartVIISectionAGrp/PersonNm22JAMES C HOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm23JAMES KEMPER
IRS990/Form990PartVIISectionAGrp/PersonNm24NANCY E WEBB
IRS990/Form990PartVIISectionAGrp/PersonNm25ASHLEY ALEXANDER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt1MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR, NOM C
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR, LEGAL
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MED DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24MEMBER
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt02809456
IRS990/GrossReceiptsAmt05133037
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/TotalAmt06569
IRS990/InvestmentIncomeGrp/ExclusionAmt0158254
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0158254
IRS990/InvestmentInJointVentureInd0false
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt010983
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IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt02941066
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0KELSEY RESEARCH FOUNDATION WAS FOUNDED IN 1956 FOR THE PURPOSE OF ENCOURAGING AND ASSISTING RESEARCH AND EDUCATION PROGRAMS IN THE FIELD OF MEDICINE.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt09049641
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-131415
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0587491
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0587491
IRS990/NetUnrlzdGainsLossesInvstAmt0-275734
IRS990/NondeductibleContributionsInd0false
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IRS990/OccupancyGrp/TotalAmt0137637
IRS990/OfficeExpensesGrp/FundraisingAmt02037
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IRS990/OfficeExpensesGrp/TotalAmt08046
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt050933
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt064693
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0122169
IRS990/OtherExpensesGrp/Desc0PROFESSIONAL FEES
IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/Desc3MEALS
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IRS990/OtherExpensesGrp/FundraisingAmt1758
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt09988
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt120503
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25513
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt36377
IRS990/OtherExpensesGrp/ProgramServicesAmt0196110
IRS990/OtherExpensesGrp/ProgramServicesAmt111407
IRS990/OtherExpensesGrp/ProgramServicesAmt25428
IRS990/OtherExpensesGrp/TotalAmt0206098
IRS990/OtherExpensesGrp/TotalAmt123971
IRS990/OtherExpensesGrp/TotalAmt217678
IRS990/OtherExpensesGrp/TotalAmt311805
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IRS990/OtherLiabilitiesGrp/EOYAmt031274
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt068634
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0431572
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0126591
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04162
IRS990/PrincipalOfficerNm0HERBERT DUPONT MD
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IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0403134
IRS990/ProgSrvcAccomActy3Grp/Desc0CRUMP CANCER CENTER BREAST-CANCER SCREENING, RESEARCH AND EDUCATION
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01283326
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IRS990/PYOtherRevenueAmt0147235
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IRS990/PYSalariesCompEmpBnftPaidAmt01091035
IRS990/PYTotalExpensesAmt01984553
IRS990/PYTotalRevenueAmt01147309
IRS990/ReconcilationRevenueExpnssAmt0151352
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,108,729
Liabilities
$183,470
Net assets
$8,925,259
Revenue
$1,985,076
Expenses
$1,833,724
Net income
$151,352
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$0.71$9.78$3.59$3.72$0.13
2023Detailed filing. Detailed filing data is available for this year.$10.5$0.57$9.89$3.65$2.79$0.86
2022Detailed filing. Detailed filing data is available for this year.$9.71$0.62$9.09$2.81$2.42$0.39
2021Detailed filing. Detailed filing data is available for this year.$10.1$0.23$9.84$2.62$2.30$0.33
2020Detailed filing. Detailed filing data is available for this year.$9.65$0.36$9.29$2.24$2.72$0.49
2019Detailed filing. Detailed filing data is available for this year.$9.67$0.18$9.49$1.86$1.94$0.07
2018Detailed filing. Detailed filing data is available for this year.$9.11$0.18$8.93$1.99$1.83$0.15
2017Detailed filing. Detailed filing data is available for this year.$9.24$0.20$9.05$1.15$1.98$0.84
2016Detailed filing. Detailed filing data is available for this year.$8.86$0.14$8.72$1.95$1.75$0.19
2015Detailed filing. Detailed filing data is available for this year.$8.44$0.14$8.30$1.63$1.95$0.32
2014Detailed filing. Detailed filing data is available for this year.$8.98$0.23$8.75$1.71$1.94$0.23
2013Detailed filing. Detailed filing data is available for this year.$9.16$0.22$8.94$6.61$1.78$4.83
2012Summary only. Only limited summary data is available for this year.$3.99$0.25$3.74$1.81$1.90$0.08
2011Summary only. Only limited summary data is available for this year.$3.90$0.21$3.69$2.14$2.23$0.09
2010Summary only. Only limited summary data is available for this year.$4.05$0.20$3.85$2.35$2.26$0.09