2025-05-14T08:44:50+00:00 2024-06-30 440160260 Forvis Mazars LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2023-07-01 412186719 STOWERS RESOURCE MANAGEMENT INC STOW 8169264000 1000 EAST 50TH STREET KANSAS CITY MO 64110 JONATHAN THOMAS DIRECTOR/CHAIR 2025-05-14 true Michael Engle P00482834 8162216300 2025-05-14 2023 2025-03-06 01:10:19Z JONATHAN THOMAS 1000 EAST 50TH STREET KANSAS CITY MO 64110 259938145 false X WWW.STOWERS.ORG X 2005 DE STOWERS RESOURCE MANAGEMENT ("SRM") SUPPORTS THE ACTIVITIES OF STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") WHICH CONDUCTS BASIC CELL AND MOLECULAR BIOLOGY RESEARCH AND THE GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH ("GSSIMR") WHICH PROVIDES GRADUATE EDUCATION THAT WILL PREPARE SCHOLARS FOR SCIENTIFIC RESEARCH IN THE BIOLOGICAL SCIENCES. 17 11 162 11 0 0 1179772 2060375 17270334 40450210 2498256 114591270 15264 30537 20963626 157132392 44067843 115000000 0 0 12144951 26815636 0 542316 12466483 30592388 68679277 172408024 -47715651 -15275632 1754575141 1998285855 296515132 301748613 1458060009 1696537242 SEE SCHEDULE O false false 115000000 115000000 0 FINANCIAL SUPPORT - SRM MONITORS THE FINANCIAL NEEDS OF SIMR SO SIMR CAN CONDUCT ITS MEDICAL RESEARCH IN THE PUBLIC INTEREST AND MAKES CONTRIBUTIONS TO SIMR TO SUPPORT ITS MEDICAL RESEARCH ACTIVITIES. THE CONTRIBUTIONS ARE MADE AS DETERMINED BY SRM'S BOARD OF DIRECTORS AFTER REVIEW OF FINANCIAL INFORMATION, BUDGETS, STRATEGIES AND OTHER RELEVANT INFORMATION. SRM PROVIDED $93,000,000 TO SIMR, A RELATED 501(C)(3) ORGANIZATION, FOR ENDOWMENT SUPPORT AND $22,000,000 TO BIOMED VALLEY CORPORATION ("BVC"), A RELATED 501(C)(3) CORPORATION, FOR ENDOWMENT SUPPORT. 40450210 0 40450210 MANAGEMENT, ADMINISTRATIVE AND OPERATION SUPPORT SERVICES - SRM PROVIDES MANAGEMENT SUPPORT TO SIMR THAT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF SIMR, OPERATIONAL PLANNING, AND THE DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS AND BUDGETS. SRM ALSO PROVIDES ADDITIONAL ADMINISTRATIVE AND OPERATIONAL SUPPORT SERVICES TO SIMR AND GSSIMR THAT INCLUDES ACCOUNTING, FINANCE, HUMAN RESOURCES, INFORMATION TECHNOLOGY, AND OTHER SUPPORT ACTIVITIES, FOR WHICH SRM ALLOCATED COSTS TO SIMR IN THE AMOUNT OF $39,766,344 AS REPORTED ON PART VIII STATEMENT OF REVENUE LINE 2A, WITH RELATED INFORMATION ON SCHEDULE O. 8358113 0 0 MANAGEMENT OF ENDOWMENT - SRM PARTICIPATES IN THE MANAGEMENT OF SIMR AND GSSIMR TO ENSURE THEIR FINANCIAL ABILITY TO CONTINUE IN PERPETUITY. 163808323 true true false false false false false false true true true false false true true false true false false false false false false false false false true false true true false false false false false false false false false false true false false false false true true true true false true 75 0 true 162 true false false false false false false false false false false true false X 17 11 true false false false true true true true true false false true true true true true true true true false KS X KATY GRAHAM 8169264000 1000 EAST 50TH STREET KANSAS CITY MO 64110 CHARLES GERMAN DIRECTOR/EVP/GENERAL COUNSEL 40.0 9.0 X X 1110953 0 79359 GEORGE L SATTERLEE DIRECTOR /EVP/HR 40.0 2.0 X X 494387 0 81376 JONATHAN THOMAS DIR/VICE CHAIR 2.0 4.0 X X 0 0 0 RICHARD W BROWN DIRECTOR/CHAIR/PRES/CEO 40.0 9.0 X X 2963544 0 83699 ALBERZINE FREEMAN DIRECTOR 2.0 4.0 X 0 0 0 ALEJANDRO SNCHEZ ALVARADO DIRECTOR 2.0 42.0 X 0 1031058 691736 BRENT KREIDER DIRECTOR 2.0 42.0 X 0 750108 98179 CICI ROJAS DIRECTOR 2.0 0.0 X 0 0 0 CLIFFORD W ILLIG DIRECTOR 2.0 2.0 X 0 0 0 DAVID A WELTE DIRECTOR 2.0 7.0 X 0 0 0 GINA KAISER DIRECTOR 2.0 0.0 X 0 0 0 JAMES E STOWERS III DIRECTOR 2.0 0.0 X 0 0 0 JOHN BLUFORD DIRECTOR 2.0 0.0 X 0 0 0 JULIE WILSON DIRECTOR 2.0 0.0 X 0 0 0 KAUSIK SI DIRECTOR 2.0 40.0 X 0 734910 167325 MAURICE WATSON DIRECTOR 2.0 0.0 X 0 0 0 PAM LOKKEN DIRECTOR 2.0 0.0 X 0 0 0 EVELYN TRAVNIK VP/CIO 40.0 0.0 X 14222 0 3951 JENNIFER H PAWLOSKY CHIEF OF STAFF/VP OF COMM 40.0 0.0 X 472097 0 86079 JOSELYN VERSCHELDEN VP/DEPUTY GEN COUNSEL 40.0 0.0 X 292582 0 77012 KIM CHEE VP OF FINANCE 40.0 0.0 X 318317 0 66256 PENNY M SPENCE EVP/CFO 40.0 11.0 X 715752 0 73207 TONYEA INGLIS VP OF REGULATORY AFFAIRS 40.0 0.0 X 210957 0 63943 JESSICA WITT DIR OF IT 40.0 0.0 X 244298 0 59332 KATY GRAHAM DIR OF ACCOUNTING 40.0 0.0 X 173197 0 39417 PATRICK MITCHELL JR VP OF HR THRU 9/28/23 40.0 2.0 X 1161799 0 73131 SHAUN PRICE DIR OF INFO SECURITY 40.0 0.0 X 167133 0 52075 TIMOTHY J GEARY DIR OF OPS AND SERVICES 40.0 0.0 X 272494 0 68535 MICHAEL NEWHOUSE FORMER DIR OF IT OPS 0.0 0.0 X 256250 0 0 8867982 2516076 1864612 40 true true false AMERICAN CENTURY INVESTMENT 4500 MAIN STREET KANSAS CITY MO 64111 INDIRECT - SEE SCHEDULE O 1311917 MIDWEST CONTRACT SERVICES 4741 CENTRAL STREET KANSAS CITY MO 64112 CLEANING & MAINTENANCE 938160 BRYAN CAVE LEIGHTON PAISNER LLP PO BOX 503089 ST LOUIS MO 63150 LEGAL SERVICES 901906 FORVIS LLP PO BOX 200870 DALLAS TX 75320 AUDIT & TAX SERVICES 412322 Maggio & Katter PC 1800 Massachussets Ave NW Ste 300 Washington DC 20036 Legal Services 366595 25 0 0 0 0 0 2060375 940995 2060375 REIMB. FROM SIMR, RELATED 501(C)(3) 900099 39766344 39766344 0 0 REIMB. FROM BVD, RELATED C CORP 900099 630713 630713 0 0 REIMB. FROM GSSIMR, RELATED 501(C)(3) 900099 28919 28919 0 0 REIMB. FROM SPI, RELATED 501(C)(4) 900099 24234 24234 0 0 0 0 0 0 40450210 117664240 0 0 117664240 0 0 0 0 0 0 0 0 26354 0 0 26354 0 26354 0 0 26354 99725318 7465 102790318 15435 -3065000 -7970 -3072970 0 0 -3072970 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MISSOURI TIMELY FILING DISCOUNT 900099 4183 4183 0 0 0 0 4183 157132392 40450210 0 114621807 115000000 115000000 0 0 0 0 0 0 7221774 6499597 649960 72217 0 0 0 0 14093333 12684000 1268400 140933 1769369 1592432 159243 17694 2632438 2369194 236919 26325 1098722 988850 98885 10987 0 0 0 0 1487248 0 1487248 0 297149 0 297149 0 0 0 0 0 0 0 1392157 0 1392157 0 2616178 2354560 235456 26162 44913 40422 4042 449 332841 299557 29956 3328 622856 560570 56057 6229 0 0 0 0 4025326 3622793 362279 40254 121868 109681 10968 1219 0 0 0 0 274138 246724 24672 2742 9870645 8883581 888358 98706 0 0 0 0 1775800 1598220 159822 17758 509987 458988 45899 5100 MAINTENANCE EXPENSES 4697241 4227517 422752 46972 OPERATION SUPPLIES 920638 828574 82857 9207 DUES & MEMBERSHIPS 525625 473063 47306 5256 SEC. 4960 EXCISE TAX 283610 255249 25525 2836 794168 714751 71475 7942 172408024 163808323 8057385 542316 0 0 572671 382251 0 0 0 0 0 0 0 0 0 0 0 0 2274639 2335972 19279557 16888846 3768265 2390711 517106372 520823170 1216690639 1464816380 0 0 0 14162555 7537371 1754575141 1998285855 6139667 9770823 0 0 0 0 290000000 290000000 0 0 0 0 0 0 0 0 375465 1977790 296515132 301748613 X 1456190198 1694245867 1869811 2291375 0 0 1458060009 1696537242 1754575141 1998285855 X -15275632 252780865 0 0 0 972000 X false true X true false X X X 2 STOWERS INSTITUTE FOR MEDICAL RESEARCH 202993509 4 true 93000000 0 THE GRADUATE SCHOOL OF THE STOWERS INST FOR MEDICAL RESEARCH 464588696 2 true 0 0 2 93000000 0 true false false false false false false false false false false false false false false true false Schedule A, Part I, Line 12g(vi) AMOUNT OF OTHER SUPPORT SRM PROVIDES A WIDE-RANGE OF SERVICES AND SUPPORT TO SIMR AND GSSIMR AS EXPLAINED IN FORM 990 PART III PROGRAM SERVICES, LINES 4B AND 4C. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1869811 981400 352956 912792 2291375 2628930 164228 923347 1869811 3101401 850000 -363484 958987 2628930 2960161 940000 273536 1072296 3101401 2762282 849000 295213 946334 2960161 0.0 0.6362 0.3638 false false 53290 43922 9368 19226267 16844924 2381343 2390711 AMERICAN CENTURY CLASS A SHARES 1464816380 F 1464816380 COMPENSATION EXCISE TAX 415238 OPERATING LEASE LIABILITY 1552552 OTHER LONG-TERM LIABILITY 10000 1977790 X Schedule D, Part V, Line 4 Intended uses of endowment funds THE PERMANENT RESTRICTED ENDOWMENT, INVESTED IN PERPETUITY, PROVIDES A SOURCE OF INCOME TO FUND THE "PRISCILLA WOOD NEAVES ENDOWED CHAIR IN BIOMEDICAL SCIENCE" AT THE STOWERS INSTITUTE. THE EARNINGS FROM THE ENDOWMENT WILL BE DISTRIBUTED, ACCORDING TO THE TERMS OF THE RESTRICTED GIFT, TO THE CURRENT HOLDER OF THE CHAIR TO BE USED IN THEIR PURSUIT OF INNOVATIVE RESEARCH. THE TEMPORARILY RESTRICTED ENDOWMENT(S) PROVIDE FUNDING FOR CERTAIN SCIENCE AND OTHER ACTIVITIES AT THE STOWERS INSTITUTE ACCORDING TO THE TERMS OF THE GIFT(S). Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote FIN 48 FINANCIAL STATEMENT FOOTNOTE FROM THE CONSOLIDATED STATEMENTS OF STOWERS INSTITUTE FOR MEDICAL RESEARCH ("THE INSTITUTE"), OF WHICH STOWERS RESOURCE MANAGEMENT, INC. IS A SUPPORTING ORGANIZATION, IS AS FOLLOWS: THE INSTITUTE RECOGNIZED THE EFFECT OF INCOME TAX POSITION ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. true STOWERS INSTITUTE FOR MEDICAL RESEARCH 1000 E 50TH STREET KANSAS CITY MO 64110 202993509 501(C)(3) 93000000 FMV FIXED INC SECURITIES SEE PART IV BIOMED VALLEY CORPORATION 1000 E 50TH STREET KANSAS CITY MO 64110 743238244 501(C)(3) 22000000 FMV FIXED INC SECURITIES SEE PART IV 2 0 Schedule I, Part II, Line 1 (H) PURPOSE OF GRANT ASSISTANCE FINANCIAL SUPPORT TO ASSIST WITH SUPPORTED ORGANIZATION'S SCIENTIFIC DISCOVERIES. Schedule I, Part II, Line 2 (H) PURPOSE OF GRANT ASSISTANCE FINANCIAL SUPPORT TO ASSIST WITH BVC'S EXEMPT PURPOSE TO SUPPORT, BENEFIT, AND CARRY OUT THE PURPOSES OF ITS SUPPORTED ORGANIZATION, SIMR. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SRM'S PURPOSE IS TO SUPPORT THE ACTIVITIES OF SIMR, WHICH CONDUCTS BASIC CELL AND MOLECULAR BIOLOGY RESEARCH. BESIDES GIVING FINANCIAL SUPPORT TO SIMR, SRM ALSO HELPS MANAGE SIMR'S ENDOWMENT, PROVIDES MANAGEMENT SUPPORT AND FUNDRAISES FOR ITS BENEFIT. THE MANAGEMENT SUPPORT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF SIMR, OPERATIONAL PLANNING, DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS, INCLUDING FINANCE, LEGAL, HUMAN RESOURCES AND OTHER CORPORATE FUNCTIONS. THE CONTRIBUTIONS, GRANTS AND INCOME FROM SRM'S ENDOWMENT ARE USED TO SUPPORT THE EXEMPT ACTIVITIES OF SIMR. X true true X X X X X true true false false false false false false false RICHARD W BROWN DIRECTOR/CHAIR/PRES/CEO 2909231 0 0 0 54313 0 49500 0 34199 0 3047243 0 0 0 CHARLES GERMAN DIRECTOR/EVP/GENERAL COUNSEL 1091685 0 0 0 19268 0 49500 0 29859 0 1190312 0 0 0 GEORGE L SATTERLEE DIRECTOR /EVP/HR 490823 0 0 0 3564 0 49500 0 31876 0 575763 0 0 0 BRENT KREIDER DIRECTOR 0 737128 0 0 0 12980 0 60040 0 38139 0 848287 0 0 ALEJANDRO SNCHEZ ALVARADO DIRECTOR 0 994654 0 0 0 36404 0 632833 0 58903 0 1722794 0 0 KAUSIK SI DIRECTOR 0 732588 0 0 0 2322 0 132833 0 34492 0 902235 0 0 PENNY M SPENCE EVP/CFO 714942 0 0 0 810 0 49500 0 23707 0 788959 0 0 0 KIM CHEE VP OF FINANCE 315994 0 0 0 2323 0 47573 0 18683 0 384573 0 0 0 TONYEA INGLIS VP OF REGULATORY AFFAIRS 209899 0 0 0 1058 0 32439 0 31504 0 274900 0 0 0 JENNIFER H PAWLOSKY CHIEF OF STAFF/VP OF COMM 461358 0 0 0 10739 0 49500 0 36579 0 558176 0 0 0 JOSELYN VERSCHELDEN VP/DEPUTY GEN COUNSEL 291772 0 0 0 810 0 44600 0 32412 0 369594 0 0 0 MICHAEL NEWHOUSE FORMER DIR OF IT OPS 0 0 0 0 256250 0 0 0 0 0 256250 0 0 0 PATRICK MITCHELL JR VP OF HR THRU 9/28/23 305058 0 0 0 856741 0 46432 0 26699 0 1234930 0 0 0 TIMOTHY J GEARY DIR OF OPS AND SERVICES 268930 0 0 0 3564 0 41149 0 27386 0 341029 0 0 0 JESSICA WITT DIR OF IT 243759 0 0 0 539 0 37534 0 21798 0 303630 0 0 0 SHAUN PRICE DIR OF INFO SECURITY 166785 0 0 0 348 0 25460 0 26615 0 219208 0 0 0 KATY GRAHAM DIR OF ACCOUNTING 172657 0 0 0 540 0 26164 0 13253 0 212614 0 0 0 Schedule J, Part I, Line 1a COMPENSATION SRM HAS A WRITTEN EMPLOYMENT CONTRACT WITH RICHARD W. BROWN (PRESIDENT/CEO), WHICH PROVISIONS INCLUDE PAYMENT OF SOCIAL CLUB DUES AND PERSONAL USE OF AN AUTOMOBILE. SRM HAS A WRITTEN EMPLOYMENT AGREEMENT WITH CHARLES GERMAN (EVP/GENERAL COUNSEL), WHICH PROVISIONS INCLUDE REIMBURSEMENT FOR PROFESSIONAL AND SOCIAL CLUB DUES. SRM'S OFFER LETTER TO JENNIFER PAWLOSKY (COS/VP OF COMMUNICATIONS), WHICH PROVISIONS INCLUDE PAYMENT OF SOCIAL CLUB DUES. ALL TAXABLE BENEFITS ARE TREATED AS COMPENSATION TO THE RECIPIENTS. Schedule J, Part I, Line 1b WRITTEN REIMBURSEMENT POLICY SRM provided the benefits described in response to line 1a pursuant to written employment contracts or offer letters that were approved by SRM's board-level committees and governing board. SEE RESPONSE TO FORM 990, PART VI, SECTION B, LINE 15 FOR ADDITIONAL PROCESSES RELATED TO DETERMINING SALARY AND BENEFITS FOR OFFICERS. Schedule J, Part I, Line 4a SEVERANCE PAYMENT - PATRICK MITCHELL SRM entered into a Separation Agreement and General Release with former employee Patrick Mitchell on October 4, 2023. Mr. Mitchell's employment with SRM ended on September 28, 2023. Under the Agreement, SRM paid Mr. Mitchell a one-time lump sum severance equal to 24 months' salary plus 12 months' equivalent retirement plan funding of $817,574.00 (less taxes and withholding). In addition, SRM agreed to provide up to $2,400.00/month COBRA reimbursement for 12 months, plus optional Career Transition Services up to $9,000.00, plus Executive Career Coaching Services up to $30,000.00. The Agreement provided SRM a standard full and general release and covenant not to sue. The Agreement further provided that Mr. Mitchell would return all SRM property, and the parties agreed to Confidentiality and mutual Non-Disparagement. Schedule J, Part I, Line 4a SEVERANCE PAYMENT - MICHAEL NEWHOUSE SRM ENTERED A SEVERANCE COMPENSATION AGREEMENT AS OF AUGUST 15, 2022 WITH MICHAEL NEWHOUSE. UNDER THE AGREEMENT, MR. NEWHOUSE WAS PAID $363,020.83 (LESS TAXES AND WITHHOLDING) IN SEVERANCE AS PAYROLL. THE FIRST INSTALLMENT IN THE AMOUNT OF $106,770.83 WAS PAID ON SEPTEMBER 2, 2022. THE SECOND INSTALLMENT IN THE AMOUNT OF $256,250.00 WAS PAID ON JANUARY 6, 2023. THE AGREEMENT ALSO PROVIDED COBRA REIMBURSEMENT UP TO $2,400.00 PER MONTH FOR TWELVE (12) MONTHS FOLLOWING THE SEPARATION DATE. THE TERMS AND CONDITIONS OF THE AGREEMENT REQUIRED THE RETURN OF ALL PROPERTY. THE AGREEMENT ALSO INCLUDED STANDARD RELEASES, AND IMPOSED CONFIDENTIALITY AND NON-DISPARAGEMENT OBLIGATIONS ON MR. NEWHOUSE. Schedule J, Part I, Line 4b SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN THE FOLLOWING PERSONS WITH RESPECT TO A RELATED ORGANZATION, STOWERS INSTITUTE FOR MEDICAL RESEARCH (SIMR), PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: ALEJANDRO SANCHEZ ALVARADO - ACCRUAL OF $583,333 AND $0 DISTRIBUTION. KAUSIK SI - ACCRUAL OF $83,333 AND $0 DISTRIBUTION. A HEALTH & ED FACILITIES AUTHORITY OF MO 431178966 60635HS34 2015-03-31 75000000 SEE PART VI false false false B HEALTH & ED FACILITIES AUTHORITY OF MO 431178966 60635HS42 2015-03-31 75000000 SEE PART VI false false false C HEALTH & ED FACILITIES AUTHORITY OF MO 431178966 60635HS59 2015-03-31 75000000 SEE PART VI false false false D HEALTH & ED FACILITIES AUTHORITY OF MO 431178966 60635HS67 2015-03-31 65000000 SEE PART VI false false false A 75000000 75000000 2000 false true true true B 75000000 75000000 2000 false true true true C 75000000 75000000 2000 false true true true D 65000000 65000000 2000 false true true true A 0.0 B 0.0 C 0.0 D 0.0 A false true false false false false true B false true false false false false true C false true false false false false true D false true false false false false true A true B true C true D true Schedule K, Part I BOND ISSUES $290,000,000 BOND ISSUE IN AGGREGATE CONSISTING OF $75,000,000 OF SERIES 2015A BONDS, $75,000,000 OF SERIES 2015B BONDS, $75,000,000 OF SERIES 2015C BONDS, AND $65,000,000 OF SERIES 2015D BONDS. Schedule K, Part I COLUMN F FOR LINES A, B, C AND D - DESCRIPTION OF PURPOSE SRM AND STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") ARE THE TWO MEMBERS OF AN OBLIGATED BOND GROUP FOR THESE TAX-EXEMPT BONDS; SRM IS A SUPPORTING ORGANIZATION OF SIMR AS DESCRIBED IN SRM'S MISSION STATEMENT AND REPORTED ON SCHEDULE R. THE BONDS WERE ISSUED TO REFUND $215,000,000 OF BONDS ISSUED IN 2000 AND $75,000,000 OF BONDS ISSUED IN 2002. THE 2000 BOND SERIES WAS ORIGINALLY ISSUED FOR THE PURPOSE OF PURCHASING AN EXISTING MEDICAL CENTER AND SURROUNDING BUILDINGS, STRIPPING THE STRUCTURES TO THEIR INFRASTRUCTURE AND RECONSTRUCTING A STATE OF THE ART MEDICAL RESEARCH FACILITY FOR SIMR. THE 2002 BOND SERIES WAS ORIGINALLY ISSUED FOR THE PURPOSE OF INTERIOR FINISH, FURNISHING, AND EQUIPPING OF THE SHELL FOR THE STRUCTURES BUILT WITH THE EARLIER 2000 BONDS. Schedule K, Part II, Line 11 PROCEEDS, OTHER SPENT PROCEEDS AGGREGRATE 2015ABCD BOND ISSUE OF $290,000,000 WAS ISSUED TO REFUND $215,000,000 BOND SERIES ISSUED IN 2000 AND $75,000,000 BOND SERIES ISSUED IN 2002. Schedule K, Part II, Line 15 PROCEEDS, REFUNDING ISSUE OF TAXABLE BONDS AGGREGRATE 2015ABCD BOND ISSUE OF $290,000,000 WAS ISSUED TO REFUND $215,000,000 BOND SERIES ISSUED IN 2000 AND $75,000,000 BOND SERIES ISSUED IN 2002. Schedule K, Part IV, Line 2b ARBITRAGE, EXCEPTION TO REBATE THE BOND PROCEEDS WERE USED TO REFUND AND REDEEM THE REFUNDED BONDS ON THE ISSUE DATE. IN ADDITION, THE INSTITUTE REASONABLY EXPECTS THAT THE DEBT SERVICE FUND WILL QUALIFY AS A BONA FIDE DEBT SERVICE FUND IN EVERY BOND YEAR. BASED ON THESE EXPECTATIONS AND CERTIFICATIONS, BOND COUNSEL HAS ADVISED THE AUTHORITY AND THE INSTITUTE THAT NO ARBITRAGE REBATE OR YIELD RESTRICTIONS WILL BE REQUIRED FOR THE BONDS. X 1 940995 Other - FAIR MARKET VALUE 0 false true false Schedule M, Part I COLUMN B - NUMBER OF CONTRIBUTIONS THE AMOUNTS SHOWN IN PART I, COLUMN (B) FOR "NUMBER OF CONTRIBUTIONS" REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS. Form 990, Part III, Line 1 ORGANIZATION'S MISSION THE STOWERS RESOURCE MANAGEMENT INC. ("SRM") OPERATES EXCLUSIVELY WITHIN THE MEANING OF CODE SECTIONS 501(C)(3) AND 509(A)(3). SRM'S CHARITABLE PURPOSE IS TO SUPPORT, BENEFIT, AND CARRY OUT THE PURPOSES OF ITS SUPPORTED ORGANIZATIONS. SRM CURRENTLY SUPPORTS STOWERS INSTITUTE FOR MEDICAL RESEARCH ("SIMR") AND THE GRADUATE SCHOOL OF THE STOWERS INSTITUTE FOR MEDICAL RESEARCH ("GSSIMR"). SIMR IS A TAX EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3), AND PUBLIC CHARITY DESCRIBED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(III). SIMR IS ACTIVELY ENGAGED IN SCIENTIFIC RESEARCH IN THE PUBLIC INTEREST. GSSIMR IS A TAX EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3), A PUBLIC CHARITY DESCRIBED IN SECTION 509(A)(1) AND FURTHER DESCRIBED AS AN EDUCATIONAL ORGANIZATION IN 170(B)(1)(A)(II). GSSIMR PROVIDES GRADUATE EDUCATION RELATING TO MEDICAL OR SCIENTIFIC RESEARCH WITH AN EMPHASIS ON INNOVATIVE RESEARCH TECHNIQUES IN THE BIOLOGICAL SCIENCES. SRM HELPS MANAGE SIMR'S ENDOWMENT, PROVIDES MANAGEMENT SUPPORT, AND FUNDRAISES FOR SIMR'S BENEFIT. THE MANAGEMENT SUPPORT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF SIMR, OPERATIONAL PLANNING, DEVELOPMENT, AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS AND BUDGETS. SRM ALSO PROVIDES ADDITIONAL ADMINISTRATIVE AND OPERATIONAL SUPPORT SERVICES TO SIMR AND GSSIMR THAT INCLUDES ACCOUNTING, FINANCE, HUMAN RESOURCES, INFORMATION TECHNOLOGY AND OTHER CORPORATE SUPPORT FUNCTIONS. THE CONTRIBUTIONS, GRANTS, AND INCOME FROM SRM'S ENDOWMENT ARE USED TO SUPPORT THE EXEMPT ACTIVITIES OF SIMR. Form 990, Part VI, Line 2 BUSINESS RELATIONSHIPS RICHARD W. BROWN, DAVID A. WELTE, ALEJANDRO SANCHEZ ALVARADO, JONATHAN THOMAS, GINA KAISER, ALBERZINE FREEMAN, CHARLES GERMAN AND BRENT KREIDER, ALL DIRECTORS OF SRM, HAVE A BUSINESS RELATIONSHIP. CLIFFORD W. ILLIG, JONATHAN THOMAS, ALBERZINE FREEMAN, BRENT KREIDER, RICHARD W. BROWN AND CHARLES GERMAN, DIRECTORS OF SRM, AND PENNY M. SPENCE, OFFICER OF SRM, HAVE A BUSINESS RELATIONSHIP. BRENT KREIDER, KAUSIK SI, AND ALEJANDRO SANCHEZ ALVARADO, DIRECTORS OF SRM, HAVE A BUSINESS RELATIONSHIP. Form 990, Part VI, Line 15a & 15B - REASONABLENESS OF COMPENSATION THE PROCESS FOR DETERMINING THE REASONABLENESS OF THE COMPENSATION FOR SRM'S PRESIDENT, EXECUTIVE VICE-PRESIDENT/GENERAL COUNSEL, AND EXECUTIVE VICE-PRESIDENT/CFO INCLUDED RETAINING THE SERVICES OF A NATIONALLY KNOWN COMPENSATION CONSULTANT TO PROVIDE DATA AND ANALYSIS TO DETERMINE COMPARABLE SALARY AND BENEFITS FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. COMPENSATION FOR THE PRESIDENT AND EXECUTIVE VICE-PRESIDENT/GENERAL COUNSEL WAS DOCUMENTED IN EMPLOYMENT CONTRACTS WHICH WERE APPROVED BY THE GOVERNING BODY AS DOCUMENTED IN THE OFFICIAL MINUTES. THE LAST COMPLETED REVIEW PROCESS FOR SRM'S PRESIDENT WAS IN 2019. THE EXECUTIVE VICE-PRESIDENT/GENERAL COUNSEL REVIEW WAS COMPLETED IN 2020. THE EXECUTIVE VICE-PRESIDENT/CFO REVIEW WAS COMPLETED IN 2023. Form 990, Part VI, Line 6 7A & 7B - SOLE MEMBER AND GOVERNANCE DECISIONS SIMR IS SRM'S SOLE MEMBER AND ELECTS SRM'S BOARD OF DIRECTORS. SIMR ALSO HAS THE RIGHT TO REMOVE, WITH OR WITHOUT CAUSE, ONE OR MORE DIRECTORS. Form 990, Part VI, Line 1a Delegate broad authority to a committee THE BOARD HAS DELEGATED CERTAIN AUTHORITY TO AN EXECUTIVE COMMITTEE WHICH MAY EXERCISE DELEGATED POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF SRM. THE MEMBERS OF THE EXECUTIVE COMMITTEE ALL SERVE ON THE BOARD. Form 990, Part VI, Line 11b Review of form 990 by governing body THE DATA AND INFORMATION NECESSARY TO PREPARE SRM'S FORM 990 IS COMPILED BY THE ACCOUNTING DEPARTMENT AND REVIEWED BY OUR TAX ATTORNEY AT BRYAN CAVE LEIGHTON PAISNER, LLP. FORVIS MAZARS, LLP, OUR EXTERNAL TAX PREPARERS, USES THIS INFORMATION TO PREPARE THE FORM 990. THE COMPLETED FORM 990, INCLUDING REQUIRED SCHEDULES, IS REVIEWED BY THE OFFICERS OF SRM BEFORE IT IS FILED WITH THE IRS. AFTER THE PREPARATION AND REVIEW PROCESS DETAILED ABOVE, THE FORM 990, INCLUDING REQUIRED SCHEDULES, IS PROVIDED TO EACH VOTING MEMBER OF SRM'S BOARD BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy SRM HAS ADOPTED A "CONFLICTS OF INTEREST AND DIRECTOR INDEPENDENCE POLICY". EACH DIRECTOR, OFFICER, AND OTHER PERSON WHO IS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER DECISIONS OF SRM ARE REQUIRED TO ANNUALLY COMPLETE AND SIGN A DISCLOSURE STATEMENT. A COVERED PERSON MUST DISCLOSE THE EXISTENCE OF A POTENTIAL CONFLICT AND ALL MATERIAL FACTS TO THE GOVERNING BOARD AS SOON AS THE PERSON HAS KNOWLEDGE THAT A POTENTIAL CONFLICT MIGHT EXIST. PER THE POLICY, THE BOARD OF DIRECTORS OR GOVERNANCE COMMITTEE THEN REVIEWS THE DISCLOSURE TO DETERMINE WHETHER A CONFLICT EXISTS. AFTER THE COVERED PERSON MAKES THE RELEVANT DISCLOSURE, THEY ARE RECUSED AND MAY NOT PARTICIPATE IN THE DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTION. SRM ALSO CONDUCTS PERIODIC AND ADHOC REVIEWS OF TRANSACTIONS AND AGREEMENTS TO ENSURE THAT IT DOES NOT ENGAGE IN ACTIVITIES THAT ARE NOT CONSISTENT WITH ITS TAX EXEMPT PURPOSE. Form 990, Part VI, Line 19 Required documents available to the public STOWERS RESOURCE MANAGEMENT INC'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part VII, Section A COLUMN B - SERVICES FOR RELATED ORGANIZATION RICHARD W. BROWN, GEORGE L. SATTERLEE, PENNY M. SPENCE, CHARLES GERMAN, KIM CHEE, TONYEA INGLIS, JENNIFER PAWLOSKY, EVELYN TRAVNIK, AND JOSELYN VERSCHELDEN, OFFICERS OF SRM, ALSO PERFORM SUPPORT SERVICES FOR ONE OR MORE OF THE RELATED ORGANIZATIONS DISCLOSED IN SCHEDULE R. THESE SERVICES ARE PERFORMED IN THEIR ROLE AS SRM EMPLOYEES AND SRM IS REIMBURSED BY THE RELATED ORGANIZATIONS. Form 990, Part VII, Section B, Line 1 American Century Investments SRM RECEIVES INVESTMENT MANAGEMENT SERVICES FROM AMERICAN CENTURY INVESTMENTS ("ACI"). ACI IS A WHOLLY OWNED SUBSIDIARY OF AMERICAN CENTURY COMPANIES, INC. ("ACCI"). IN SELECTING ACI TO MANAGE ITS LIQUID INVESTMENTS, SRM NOT ONLY SELECTED A HIGH-QUALITY MUTUAL FUND COMPANY WITH OUTSTANDING TRACK RECORD, BUT ALSO PLACED ITS LIQUID INVESTMENTS IN A COMPANY IN WHICH IT OWNS STOCK AND RECEIVES DIVIDENDS. SRM PAYS ACI THE SAME ADMINISTRATIVE FEES FOR THESE SERVICES AS ANY ARMS-LENGTH INVESTORS. Form 990, Part VIII, Line 2a 2B, 2C, & 2D - PROGRAM SERVICE REVENUE SRM RECEIVED EXPENSE REIMBURSEMENTS FROM RELATED PARTIES, AS DESCRIBED IN SCHEDULE R, FOR ADMINISTRATIVE SUPPORT SERVICES BY SRM. SRM ALLOCATED THE COSTS OF PROVIDING THESE SERVICES TO THE RELATED PARTIES. Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES NOTE 1: SRM RECEIVED PASS-THROUGH AMOUNTS FROM STOWERS REAL ESTATE HOLDING CORPORATION ("SREHC"). SRM IS THE TAX-EXEMPT PARENT OF SREHC. SREHC IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(2) OF THE CODE, AND AS SUCH, SREHC REMITS THEIR NET INCOME AND MAKES OTHER TRANSFERS TO ITS TAX-EXEMPT PARENT, SRM. SRM RECEIVED $972,000 OF NET INCOME FROM SREHC. Form 990, Part XI, Line 9 Other changes in net assets or fund balances EQUITY TRANSFERS FROM RELATED 501(C)(2) ORG (NOTE 1) - 972000; STOWERS INSTITUTE FOR MEDICAL RESEARCH 1000 EAST 50TH STREET KANSAS CITY MO 64110 202993509 MED RESEARCH DE 501(c)(3) 4 N/A false STOWERS REAL ESTATE HOLDING CORPORATION 1000 EAST 50TH STREET KANSA CITY MO 64110 261472230 TITLE HOLDING DE 501(c)(2) SRM true BIOMED VALLEY CORPORATION 1000 EAST 50TH STREET KANSAS CITY MO 64110 743238244 SUPPORT ORG DE 501(c)(3) Type I SIMR true STOWERS SCIENTIFIC EDUCATION INSTITUTE 1000 EAST 50TH STREET KANSAS CITY MO 64110 205916445 SUPPORT ORG DE 501(c)(3) Type I SIMR true STOWERS POLICY INSTITUTE INC 1000 EAST 50TH STREET KANSAS CITY MO 64110 203270502 SEE PART VII DE 501(c)(4) SIMR false THE GRADUATE SCHOOL OF SIMR 1000 EAST 50TH STREET KANSAS CITY MO 64110 464588696 EDUCATION MO 501(c)(3) 2 SIMR true STOWERS INVESTMENT HOLDING CORPORATION 1000 EAST 50TH STREET KANSAS CITY MO 64110 920365628 TITLE HOLDING DE 501(c)(2) SRMSPI false BIOMED VALLEY DISCOVERIES INC 4435 MAIN ST SUITE 550 KANSAS CITY MO 64111 061646533 SEE PART VII DE NA C Corporation true false true false false false false false false false false false false false true true true true false true BIOMED VALLEY CORPORATION B 22000000 MARKET VALUE BIOMED VALLEY DISCOVERIES Q 630713 SEE PART VII STOWERS REAL ESTATE HOLDING CORPORATION S 972000 See Part VII Schedule R, Part II, Column (b) PRIMARY ACTIVITY STOWERS POLICY INSTITUTE INC'S ("SPI") PRIMARY ACTIVITY IS TO PROMOTE INNOVATIVE AND ETHICAL BIOMEDICAL RESEARCH, THERAPIES AND CURES, AND TO ADVOCATE FOR A POLITICAL, ECONOMIC AND SOCIAL ENVIRONMENT THAT ADVANCES, FACILITATES, AND PROTECTS THAT RESEARCH AND THOSE THERAPIES AND CURES. Schedule R, Part IV, Column (b) PRIMARY ACTIVITY BIOMED VALLEY DISCOVERIES, INC'S ("BVD") PRIMARY ACTIVITY IS THE DEVELOPMENT AND MARKETING OF SCIENTIFIC DISCOVERIES. BIOMED VALLEY CORPORATION ("BVC") IS THE 100% OWNER OF BVD STOCK. Schedule R, Part V LINE 2 - TYPE Q - SERVICES TO RELATED ORGANIZATIONS SRM PROVIDES RESOURCES AND SERVICES TO ITS RELATED ORGANIZATIONS DESCRIBED IN PART II AND PART IV AND IS REIMBURSED BY THE RELATED ORGANIZATIONS. Schedule R, Part V LINE 2 - TYPE S - METHOD OF VALUATION STOWERS REAL ESTATE HOLDING CORPORATION ("SREHC") IS A CONTROLLED ENTITY WITHIN THE MEANING OF 512(B)(13). SREHC IS A TAX EXEMPT ORGANIZATION UNDER 501(C)(2) OF THE CODE, AND AS SUCH, REMITS ITS NET INCOME AND MAKES OTHER TRANSFERS TO ITS TAX EXEMPT PARENT, SRM. SRM RECEIVED $972,000 OF NET INCOME FROM SREHC DURING THE PERIOD JULY 1, 2023 THROUGH JUNE 30, 2024. SREHC MADE NO SPECIFIED PAYMENTS TO SRM. Schedule R, Part V LINE 2 - TYPE Q - METHOD OF VALUATION SRM PROVIDES MANAGEMENT SUPPORT TO BVD THAT INVOLVES ASSISTING IN PLANNING FOR THE STRATEGIC DIRECTION OF BVD, OPERATIONAL PLANNING, AND THE DEVELOPMENT AND IMPLEMENTATION OF STRATEGIC BUSINESS PLANS AND BUDGETS. SRM ALSO PROVIDES ADDITIONAL ADMINISTRATIVE AND OPERATIONAL SUPPORT SERVICES TO BVD THAT INCLUDES ACCOUNTING, FINANCE, HUMAN RESOURCES, INFORMATION TECHNOLOGY, AND OTHER SUPPORT ACTIVITIES, FOR WHICH SRM ALLOCATED COSTS TO BVD IN THE AMOUNT OF $630,713 DURING THE PERIOD JULY 1, 2023 THROUGH JUNE 30, 2024 AS REPORTED ON PART VIII STATEMENT OF REVENUE LINE 2B. Schedule R, Part V LINE 2 - TYPE B - CONTRIBUTION TO RELATED ORGANIZATION SRM PROVIDED FINANCIAL SUPPORT TO BIOMED VALLEY CORPORATION ("BVC"), A SUPPORTING ORGANIZATION OF SIMR, TO BE USED BY BVC IN FURTHERANCE OF BVC'S EXEMPT PURPOSE.