Civic Intelligence

Licr Charitable Trust

990 • Fiscal year 2020 • EIN 98-6039547

Oct 01, 2019 to Sep 30, 2020 • Filed on Jul 19, 2021

666 Third Avenue - 28th FloorNew York, NY 10017

(212) 450-1500

Siviq Scores

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

Liabilities / Assets

74th percentile

0.00x

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

2020 filings • NTEE T • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.00x

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

2020 filings • NTEE T • $1M-$5M nonprofits • Source year 2020

Net Margin

90th percentile

90%

Higher net margin than 90% of similar nonprofits.

2020 filings • NTEE T • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

100th percentile

$991,619

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 23.8% of source-year revenue.

2020 filings • NTEE T • $1M-$5M nonprofits • Source year 2020

Asset Growth

99th percentile

1510%

Faster asset growth than 99% of similar nonprofits.

2020 filings • NTEE T • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

1983%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • NTEE T • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$3,998,692

Up $3,750,348 (+1510%) from 2019

Net Assets

Up

$3,998,692

Up $3,750,348 (+1510%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Up

$4,158,922

Up $3,959,238 (+1983%) from 2019

Expenses

Up

$408,574

Up $22,121 (+5.7%) from 2019

Net Income

Up

$3,750,348

Up $3,937,117 (+2108%) from 2019

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,435,020Liabilities 2011: $0Net Assets 2011: $2,435,0202011Assets 2012: $2,103,063Liabilities 2012: $0Net Assets 2012: $2,103,0632012Assets 2013: $1,789,762Liabilities 2013: $0Net Assets 2013: $1,789,7622013Assets 2014: $1,516,344Liabilities 2014: $0Net Assets 2014: $1,516,3442014Assets 2015: $1,260,266Liabilities 2015: $0Net Assets 2015: $1,260,2662015Assets 2016: $971,388Liabilities 2016: $0Net Assets 2016: $971,3882016Assets 2017: $672,725Liabilities 2017: $0Net Assets 2017: $672,7252017Assets 2018: $435,113Liabilities 2018: $0Net Assets 2018: $435,1132018Assets 2019: $248,344Liabilities 2019: $0Net Assets 2019: $248,3442019Assets 2020: $3,998,692Liabilities 2020: $0Net Assets 2020: $3,998,6922020Assets 2021: $3,827,604Liabilities 2021: $0Net Assets 2021: $3,827,6042021Assets 2022: $3,762,706Liabilities 2022: $0Net Assets 2022: $3,762,7062022Assets 2023: $3,441,952Liabilities 2023: $0Net Assets 2023: $3,441,9522023Assets 2024: $3,138,149Liabilities 2024: $0Net Assets 2024: $3,138,1492024

Highlighted filing

2020

Assets$3,998,692
Liabilities$0
Net Assets$3,998,692

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $50,748Expenses 2011: $410,552Net Income 2011: -$359,8042011Revenue 2012: $43,758Expenses 2012: $375,715Net Income 2012: -$331,9572012Revenue 2013: $61,555Expenses 2013: $374,856Net Income 2013: -$313,3012013Revenue 2014: $123,706Expenses 2014: $397,124Net Income 2014: -$273,4182014Revenue 2015: $149,681Expenses 2015: $405,759Net Income 2015: -$256,0782015Revenue 2016: $104,098Expenses 2016: $392,976Net Income 2016: -$288,8782016Revenue 2017: $116,218Expenses 2017: $414,881Net Income 2017: -$298,6632017Revenue 2018: $182,670Expenses 2018: $420,282Net Income 2018: -$237,6122018Revenue 2019: $199,684Expenses 2019: $386,453Net Income 2019: -$186,7692019Revenue 2020: $4,158,922Expenses 2020: $408,574Net Income 2020: $3,750,3482020Revenue 2021: $254,319Expenses 2021: $425,407Net Income 2021: -$171,0882021Revenue 2022: $392,973Expenses 2022: $457,871Net Income 2022: -$64,8982022Revenue 2023: $156,454Expenses 2023: $477,208Net Income 2023: -$320,7542023Revenue 2024: $149,784Expenses 2024: $453,587Net Income 2024: -$303,8032024

Highlighted filing

2020

Revenue$4,158,922
Expenses$408,574
Net Income$3,750,348
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jul 19, 2021
Return Version
2019v5.0
Gross Receipts
$4,433,027
Mission and Program Overview

Mission

The organization is a Bermudian trust whose mission is to operate in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a Swiss not-for-profit organization, by maintaining oversight of the management of the Institute's programs and operations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$236,965$3,990,446▲ $3,753,481
Savings and Temporary Cash Investments$11,379$8,246▼ $3,133
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--
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$248,344$3,998,692▲ $3,750,348
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$248,344$3,998,692▲ $3,750,348
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$248,344$3,998,692▲ $3,750,348
Total Liabilities and Net Assets / Fund Balance$248,344$3,998,692▲ $3,750,348
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
John L NotterIndividual Trustee$45,296$101,135$146,431
John D Gordan IIIIndividual Trustee$45,296$39,956$85,252
Dr Jedd D WolchokIndividual Trustee$45,296-$45,296
Edward A McDermott JrIndividual Trustee$45,296$946,323$45,296
Sir Derek RobertsIndividual Trustee$45,296-$45,296
-Administrative Trustee$45,026-$45,026
Revenue and Support

Revenue Composition

Contributions and Grants
$4,000,000
Program Service Revenue
$0
Investment Income
$158,922
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$3,750,348

Audited Revenue Reconciliation

Revenue per Audited Statements
$158,922
Revenue Not Reported on Financial Statements
$4,000,000
Revenue Not Reported on Form 990
$455,027
Other Revenue Adjustments
$4,000,000
Total Revenue per Audited Statements
$613,949
Total Revenue per Form 990
$4,158,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$275,261
Other Expenses$133,313
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$229,555$45,706-$275,261
Fees for Services Management-$60,277-$60,277
Insurance$34,002$8,501-$42,503
Fees for Services Accounting-$17,400-$17,400
Fees for Services Legal-$12,341-$12,341
Other Expenses$0$208$0$208
Total Functional Expenses$263,557$145,017$0$408,574

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$415,176
Total Expenses per Audited Statements$415,176
Total Expenses per Form 990$408,574
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-6,602
Other Expense Adjustments$-6,602
International Activity

International Summary

Offices
0
Employees
0
Spending
$91,617

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
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)Program ServicesOversee LICR00$45,911
North America (including Canada and Mexico, but not the United States)--00$45,706
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

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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

Three of the five Individual Trustees are also members of the Board of Directors of the Ludwig Institute for Cancer Research Ltd and LICR Fund, Inc.

Form 990, Part VI, Section A, Line 3

The LICR Charitable Trust ("the Trust") entered into an agreement in 1997 (renewed in 2008) with The Ludwig Group, Inc. ("LGI") whereby LGI provides administrative services to the Trust not otherwise rendered by the Trust's Trustees or its service providers.

Form 990, Part VI, Section A, Line 7A

The organization's governing body comprises six Trustees. The organization's governing trust indenture designates one Trustee, resident in Bermuda, as the "Administrative Trustee" and the other Trustees as "Individual Trustees". Article VIII(F) of the trust indenture confers voting rights on the Individual Trustees only. The five Individual Trustees are the only members of the governing body with the power to vote on all matters that come before the governing body.

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

The draft Form 990 is reviewed and approved by all Trustees prior to being filed with the Internal Revenue Service.

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

The sole programmatic and operational activities of the Trustees of the LICR Charitable Trust ("the Trust") are to maintain oversight and control of the management of the Ludwig Institute for Cancer Research Ltd ("the Institute"), by overseeing and engaging with its Board of Directors. Given the limited scope of the Trustees' activities, certain policies are deemed unncessary.

Form 990, Part VI, Section B, Line 15

The Trust uses the services of LGI, an administrative services company, as described above in Schedule O for Form 990, Part VI, Section A, Line 3. As such, the Trust does not employ any officers, top management officials, or key employees.

Form 990, Part VI, Section C, Line 19

The Trust's Form 990 is available upon request. The Trust makes no other documents available to the public.

Filing and Contact Details

Filer

Filer Name
Licr Charitable Trust
EIN
98-6039547
Phone
2124501500
Address
666 Third Avenue - 28th Floor, New York, NY 10017

Signing Officer

Name
Edward A McDermott Jr
Title
Trustee
Phone
2124501550
Signed
2021-07-19

Organization Details

Principal Officer
Edward A McDermott Jr
Formed
1988
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

The Trust qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, is not subject to federal income tax. The Trust is not subject to tax in Bermuda, where it was established and is legally resident. The Trust recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the Trust's exempt purpose is subject to tax under Internal Revenue Code Section 511. The Trust did not recognize any unrelated business income tax liability for the years ended September 30, 2020 and 2019.

Schedule D, Part XI, Line 4B

During the year, the organization received a contribution of $4,000,000 from LICR Fund, Inc., a related organization which supports the Institute. The contribution will be used to fund operating expenses of the organization.

Schedule D, Part XII, Line 4B

Accrued items.

Raw XML AppendixShowing 400 of 583 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt00
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt00
IRS990/AccountsReceivableGrp/BOYAmt00
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0The organization is a Bermudian trust whose mission is to operate in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a Swiss not-for-profit organization, by maintaining oversight of the management of the Institute's programs and operations.
IRS990/AllOtherContributionsAmt00
IRS990/AuditCommitteeInd00
IRS990/BooksInCareOfDetail/PersonNm0Christopher T Conroy
IRS990/BooksInCareOfDetail/PhoneNum02124501547
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0666 Third Avenue - 28th Floor
IRS990/BooksInCareOfDetail/USAddress/CityNm0New York
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd010017
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt00
IRS990/CashNonInterestBearingGrp/EOYAmt00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt045706
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0229555
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0275261
IRS990/CompensationFromOtherSrcsInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContriRptFundraisingEventAmt00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt04000000
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0158922
IRS990/CYOtherExpensesAmt0133313
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt03750348
IRS990/CYSalariesCompEmpBnftPaidAmt0275261
IRS990/CYTotalExpensesAmt0408574
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04158922
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt00
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd01
IRS990/Desc0Oversight of the management Ludwig Institute for Cancer Research Ltd
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonatedServicesAndUseFcltsAmt00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt00
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/EscrowAccountLiabilityGrp/BOYAmt00
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/ExpenseAmt0263557
IRS990/FamilyOrBusinessRlnInd01
IRS990/FederalGrantAuditRequiredInd00
IRS990/FederatedCampaignsAmt00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt017400
IRS990/FeesForServicesAccountingGrp/TotalAmt017400
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt012341
IRS990/FeesForServicesLegalGrp/TotalAmt012341
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt060277
IRS990/FeesForServicesManagementGrp/TotalAmt060277
IRS990/ForeignActivitiesInd01
IRS990/ForeignCountryCd0BD
IRS990/ForeignFinancialAccountInd01
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt047
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt110
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt23
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0Conyers Trust Company (Bermuda) Ltd
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/InstitutionalTrusteeInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt0104651
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/PersonNm0Edward A McDermott Jr
IRS990/Form990PartVIISectionAGrp/PersonNm1John L Notter
IRS990/Form990PartVIISectionAGrp/PersonNm2John D Gordan III
IRS990/Form990PartVIISectionAGrp/PersonNm3Sir Derek Roberts
IRS990/Form990PartVIISectionAGrp/PersonNm4Dr Jedd D Wolchok
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt045296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt145296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt245296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt345296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt445296
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt545026
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt0841672
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1101135
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt239956
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/TitleTxt0Individual Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Individual Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Individual Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Individual Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Individual Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Administrative Trustee
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01988
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingAmt00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt0130895
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt00
IRS990/GrantsPayableGrp/BOYAmt00
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0405000
IRS990/GrossReceiptsAmt04433027
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt00
IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt08501
IRS990/InsuranceGrp/ProgramServicesAmt034002
IRS990/InsuranceGrp/TotalAmt042503
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt028027
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt028027
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0236965
IRS990/InvestmentsPubTradedSecGrp/EOYAmt03990446
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LegalDomicileCountryCd0BD
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0274105
IRS990/LoanOutstandingInd00
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The organization is a Bermudian trust whose mission is to operate in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a Swiss not-for-profit organization, by maintaining oversight of the management of the Institute's programs and operations.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt0248344
IRS990/NetAssetsOrFundBalancesEOYAmt03998692
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0130895
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0130895
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0248344
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03998692
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Bank charges
IRS990/OtherExpensesGrp/Desc1Miscellaneous/printing
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0584
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1208
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/TotalAmt0584
IRS990/OtherExpensesGrp/TotalAmt1208
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Edward A McDermott Jr
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0199684
IRS990/PYOtherExpensesAmt0116297
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-186769
IRS990/PYSalariesCompEmpBnftPaidAmt0270156
IRS990/PYTotalExpensesAmt0386453
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0199684
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt03750348
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RelatedOrganizationsAmt04000000
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011379
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08246
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlDecidingGrntFrgnOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportForeignOrgNoDetermInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0By the terms of the organization's governing documents, its purposes and activities are to operate solely for the benefit of and in connection with the Ludwig Institute for Cancer Research Ltd, ("the Institute"), a public charity recognized by the IRS as a medical research organization described in Section 170(b)(1)(a)(iii) of the Internal Revenue Code, by maintaining oversight of the management of the Institute's programs and operations. To implement this connection between the two organizations, the organization's governing documents provide that, at all times, (i) a majority of the organization's Trustees must also be members of the Institute's Board of Directors and (ii) a Trustee is always Chairperson of the Institute's Board of Directors. To satisfy these requirements, three of the five current voting Trustees also served on the Institute's Board of Directors, and John Notter, a Trustee of the organization, served as Chairperson of the Institute's Board of Directors. In addition, the President and CEO of the Institute, Edward A. McDermott, Jr., was also a Trustee of the Organization. John D. Gordan III was both a Trustee of the organization, and a Member of the Institute's Board, serving as Chairperson of its Audit Committee and a Member of its Compensation and Executive Committees. In addition, the three voting Trustees serving on the Board of the Institute also comprised the majority of the Institute's Executive Committee.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part IV, Section C, Line 1
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0237121131
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd04
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0263557
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Ludwig Institute for Cancer Research Ltd
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0263557
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-6602
IRS990ScheduleD/ExpensesSubtotalAmt0415176
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0455027
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-6602
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt04000000
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt0455027
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt04000000
IRS990ScheduleD/RevenueSubtotalAmt0158922
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Trust qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, is not subject to federal income tax. The Trust is not subject to tax in Bermuda, where it was established and is legally resident. The Trust recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the Trust's exempt purpose is subject to tax under Internal Revenue Code Section 511. The Trust did not recognize any unrelated business income tax liability for the years ended September 30, 2020 and 2019.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1During the year, the organization received a contribution of $4,000,000 from LICR Fund, Inc., a related organization which supports the Institute. The contribution will be used to fund operating expenses of the organization.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Accrued items.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XII, Line 4b
IRS990ScheduleD/TotalExpensesPerForm990Amt0408574
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt04158922
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0613949
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0415176
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt045911
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt145706
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe (including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1North America (including Canada and Mexico, but not the United States)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Oversee LICR
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program Services
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ForeignCorpOwnershipInd01
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0The organization uses the cash method of accounting in order to account for these expenditures.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule F, Part I, Line 3
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt091617
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt045296
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0841672
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt071308
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt033343
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Edward A McDermott Jr
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Individual Trustee
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt045296
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0946323
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Edward A. McDermott, Jr. participated in a supplemental, non-qualified pension retirement plan ("the plan") maintained by The Ludwig Group, Inc. ("LGI"), a related organization of LICR Charitable Trust. The purpose of LGI's supplemental pension plan is to provide certain supplemental benefits to certain select management or highly compensated employees who are participants in the Employee Pension Plan of the Ludwig Group, Inc. All benefits payable under the plan, which is intended to constitute both an unfunded excess benefit plan under Section (3)(36) of Title I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA") and a non-qualified, unfunded deferred compensation plan for a select group of management or highly compensated employees under ERISA, are payable from the general assets of LGI. LGI may establish and fund a trust in order to aid it in providing benefits due under the plan. Within the amount disclosed on Form 990, Part VII, Section A, Line 1(a)(1), Column (F), -$908,622 is attributable to this plan.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.14$0.00$3.14$0.15$0.45$0.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.44$0.00$3.44$0.16$0.48$0.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.76$0.00$3.76$0.39$0.46$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.00$3.83$0.25$0.43$0.17
2020Detailed filing. Detailed filing data is available for this year.$4.00$0.00$4.00$4.16$0.41$3.75
2019Summary only. Only limited summary data is available for this year.$0.25$0.00$0.25$0.20$0.39$0.19
2018Summary only. Only limited summary data is available for this year.$0.44$0.00$0.44$0.18$0.42$0.24
2017Summary only. Only limited summary data is available for this year.$0.67$0.00$0.67$0.12$0.41$0.30
2016Summary only. Only limited summary data is available for this year.$0.97$0.00$0.97$0.10$0.39$0.29
2015Summary only. Only limited summary data is available for this year.$1.26$0.00$1.26$0.15$0.41$0.26
2014Summary only. Only limited summary data is available for this year.$1.52$0.00$1.52$0.12$0.40$0.27
2013Summary only. Only limited summary data is available for this year.$1.79$0.00$1.79$0.06$0.37$0.31
2012Summary only. Only limited summary data is available for this year.$2.10$0.00$2.10$0.04$0.38$0.33
2011Summary only. Only limited summary data is available for this year.$2.44$0.00$2.44$0.05$0.41$0.36