LICR FUND INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- LICR FUND INC (EIN 13-3573053)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-09
- IRS object ID
- 202103139349303845
- Schema version
- 2020v4.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule F
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-09T14:46:52-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PricewaterhouseCoopers LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 MADISON AVENUE | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133573053 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LICR FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % CHRISTOPHER T CONROY | InCareOfNm |
| Business Name Control | LICR | BusinessNameControlTxt |
| Phone | 2124501500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 THIRD AVENUE 32ND FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHRISTOPHER T CONROY | PersonNm |
| Person Title | ASST. TREASURER | PersonTitleTxt |
| Phone | 2124501500 | PhoneNum |
| Signature | 2021-11-05 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CHRISTOPHER T | PersonFirstNm |
| Person Last | CONROY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SHIRA R FULLER | PreparerPersonNm |
| PTIN | P01417945 | PTIN |
| Phone | 6464713000 | PhoneNum |
| Preparation | 2021-11-05 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | EDWARD A MCDERMOTT JR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 THIRD AVENUE 32ND FLOOR | AddressLine1Txt |
| City | New York | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $675,409,035 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTP://WWW.LUDWIGCANCERRESEARCH.ORG/ABOUT/ | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1990 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | LICR FUND, INC. IS A SUPPORTING ORGANIZATION OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $2,151,740 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $507,809 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $40,714 | PYContributionsGrantsAmt |
| CY Contributions Grants | $46,604 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $88,006,106 | PYInvestmentIncomeAmt |
| CY Investment Income | $86,918,837 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $88,046,820 | PYTotalRevenueAmt |
| CY Total Revenue | $86,965,441 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $53,435,843 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $57,931,211 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $235,000 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $255,000 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,805,163 | PYOtherExpensesAmt |
| CY Other Expenses | $7,598,080 | CYOtherExpensesAmt |
| PY Total Expenses | $60,476,006 | PYTotalExpensesAmt |
| CY Total Expenses | $65,784,291 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $27,570,814 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $21,181,150 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,582,070,691 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,976,999,136 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $7,693,880 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $31,929,131 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,574,376,811 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,945,070,005 | NetAssetsOrFundBalancesEOYAmt |
| Mission | LICR FUND, INC. IS A SUPPORTING ORGANIZATION OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("THE INSTITUTE") AND PROVIDES GRANTS AND/OR OTHER ASSISTANCE TO THE INSTITUTE TO SUPPORT THE INSTITUTE'S CONDUCT OF MEDICAL RESEARCH ACTIVITIES. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $57,181,211 | ExpenseAmt |
| Grant | $57,181,211 | GrantAmt |
| Desc | LICR FUND, INC. ("THE FUND") IS A NON-PROFIT DELAWARE CORPORATION THAT HOLDS A DIVERSIFIED PORTFOLIO OF INVESTMENTS FROM WHICH IT PROVIDES ANNUAL SUPPORT TO THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("THE INSTITUTE"). THE INSTITUTE IS EXEMPT UNDER IRC SECTION 501(C)(3) AND IS NOT A PRIVATE FOUNDATION BECAUSE IT IS A MEDICAL RESEARCH ORGANIZATION, DESCRIBED IN IRC SECTION 170(B)(1)(A)(III), ENGAGED IN MEDICAL RESEARCH INTO THE CAUSES AND CURE OF CANCER IN CONJUNCTION WITH QUALIFIED HOSPITALS. IN 2020 THE FUND PROVIDED GRANTS AND OTHER ASSISTANCE DIRECTLY TO THE INSTITUTE IN THE AMOUNT OF $57,181,211 TO SUPPORT THE INSTITUTE'S MEDICAL RESEARCH ACTIVITIES, INCLUDING LABORATORY RESEARCH AND CLINICAL TRIALS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $750,000 | ExpenseAmt |
| Grant | $750,000 | GrantAmt |
| Desc | AS A SUPPORTING ORGANIZATION OF THE INSTITUTE, THE FUND ALSO PROVIDES SUPPORT INDIRECTLY TO THE INSTITUTE BY SUPPORTING PROJECTS THAT BENEFIT THE WORK OF THE INSTITUTE. A $750,000 GRANT WAS MADE TO THE PRESIDENT AND FELLOWS OF HARVARD COLLEGE, A MASSACHUSETTS EDUCATIONAL, CHARITABLE CORPORATION, FOR THE BENEFIT OF HARVARD MEDICAL SCHOOL TO ESTABLISH A CURRENT USE FUND KNOWN AS THE LUDWIG TUMOR ATLAS FUND IN ORDER TO SUPPORT RESEARCH BEING CONDUCTED WITHIN THE HARVARD PROGRAM IN THERAPEUTIC SCIENCE AT HARVARD MEDICAL SCHOOL. THIS WORK AT HARVARD MEDICAL SCHOOL SUPPORTED BY THE LUDWIG TUMOR ATLAS FUND WILL BE AN INTEGRAL COMPONENT OF THE RESEARCH ENTERPRISE OF THE NETWORK OF LUDWIG CENTERS AND BRANCHES ESTABLISHED THROUGHOUT THE US AND INTERNATIONALLY, INCLUDING THE LUDWIG CENTER AT HARVARD. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $57,931,211 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | Yes (true) | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 12 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | DE | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHRISTOPHER T CONROY | PersonNm |
| Phone | 2124501547 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 THIRD AVENUE 32ND FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10016 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| XING CHEN | |||||||
| VICE PRESIDENT, CIO, TREASURER | 39.0 | 1.0 | Yes (X) | $0 | $947,383 | $227,872 | |
| EDWARD A MCDERMOTT JR | |||||||
| DIRECTOR, PRESIDENT | 23.0 | 25.0 | Yes (X) | $0 | $915,836 | $96,405 | Yes (X) |
| DR CHI VAN DANG | |||||||
| DIRECTOR | 2.0 | 50.0 | $0 | $931,911 | $65,335 | Yes (X) | |
| AVANTIKA PATEL | |||||||
| ASST. SECRETARY | 40.0 | 0.0 | Yes (X) | $0 | $415,127 | $167,376 | |
| CHRISTOPHER T CONROY | |||||||
| ASST. TREASURER | 28.0 | 12.0 | Yes (X) | $0 | $210,926 | $120,518 | |
| ALEXANDER BORISSOV | |||||||
| SECRETARY | 3.0 | 37.0 | Yes (X) | $0 | $246,024 | $68,288 | |
| JOHN L NOTTER | |||||||
| DIRECTOR, BOARD CHAIRPERSON | 2.0 | 9.0 | Yes (X) | $75,000 | $73,514 | $0 | Yes (X) |
| JOHN D GORDAN III | |||||||
| DIRECTOR | 1.0 | 3.0 | $30,000 | $56,553 | $0 | Yes (X) | |
| OLIVIER DUNANT | |||||||
| DIRECTOR, VICE CHAIRPERSON | 2.0 | 2.0 | Yes (X) | $30,000 | $10,437 | $0 | Yes (X) |
| DR PHILIP A PIZZO | |||||||
| DIRECTOR | 2.0 | 2.0 | $30,000 | $10,437 | $0 | Yes (X) | |
| JUDGE BARBARA S JONES | |||||||
| DIRECTOR | 2.0 | 2.0 | $30,000 | $10,437 | $0 | Yes (X) | |
| DR NANCY DAVIDSON | |||||||
| DIRECTOR | 2.0 | 2.0 | $30,000 | $10,437 | $0 | Yes (X) | |
| ALEXANDRA JOHNSON | |||||||
| DIRECTOR | 2.0 | 2.0 | $30,000 | $10,437 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $255,000 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $3,849,459 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $745,794 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line1ContractorAddress/ForeignAddress/AddressLine1Txt | CityContractorAddress/ForeignAddress/CityNm | Province Or StateContractorAddress/ForeignAddress/ProvinceOrStateNm | CountryContractorAddress/ForeignAddress/CountryCd |
|---|---|---|---|---|---|---|---|---|---|
| THE LUDWIG GROUP INC | |||||||||
| 666 THIRD AVENUE 28TH FLOOR | NEW YORK | NY | 10017 | ADMINISTRATIVE SVCS | $4,016,201 | ||||
| TB ALTERNATIVE ASSETS | |||||||||
| PORTFOLIO MANAGER | $614,476 | BANK OF CHINA TOWER50 CONNAUGHT RD | HONG KONG | 0 | CH | ||||
| SILCHESTER INT'L ADVISORS LTD | |||||||||
| PORTFOLIO MANAGER | $389,439 | HEATHCOTE HOUSE | LONDON | 0 | UK | ||||
| BRANDYWINE GLOBAL INVESTMENT MANAGE | |||||||||
| 2929 ARCH ST | PHILADELPHIA | PA | 19104 | PORTFOLIO MANAGER | $195,952 | ||||
| KPMG LLP | |||||||||
| 345 PARK AVENUE | NEW YORK | NY | 10154 | PROFESSIONAL SVCS | $154,300 | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $46,604 | AllOtherContributionsAmt |
| Noncash Contributions | $36,104 | NoncashContributionsAmt |
| Total Contributions | $46,604 | TotalContributionsAmt |
| Total Program Service Revenue | $0 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,230,066 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $64,020 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,166,046 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $673,132,365 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $588,443,594 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $84,688,771 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $84,688,771 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $2,087,720 | UnrelatedBusinessRevenueAmt |
| Exclusion | $82,601,051 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $86,965,441 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $2,151,740 | UnrelatedBusinessRevenueAmt |
| Exclusion | $84,767,097 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $750,000 | TotalAmt |
| Program Services | $750,000 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,181,211 | TotalAmt |
| Program Services | $57,181,211 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $255,000 | TotalAmt |
| Management And General | $255,000 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,016,201 | TotalAmt |
| Management And General | $4,016,201 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75,834 | TotalAmt |
| Management And General | $75,834 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $243,284 | TotalAmt |
| Management And General | $243,284 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,436,315 | TotalAmt |
| Management And General | $2,436,315 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $399 | TotalAmt |
| Management And General | $399 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $104,412 | TotalAmt |
| Management And General | $104,412 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,234 | TotalAmt |
| Management And General | $11,234 | ManagementAndGeneralAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,153 | TotalAmt |
| Management And General | $16,153 | ManagementAndGeneralAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,893 | TotalAmt |
| Management And General | $81,893 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| CUSTODIAN FEES | $537,690 | $537,690 |
| SUBSCRIPTIONS | $41,683 | $41,683 |
| TAXES | $32,982 | $32,982 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,784,291 | TotalAmt |
| Program Services | $57,931,211 | ProgramServicesAmt |
| Management And General | $7,853,080 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,032,659 | BOYAmt |
| EOY | $14,487,586 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,559,987,705 | BOYAmt |
| EOY | $1,941,691,797 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,050,327 | BOYAmt |
| EOY | $20,819,753 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,582,070,691 | BOYAmt |
| EOY | $1,976,999,136 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,693,880 | BOYAmt |
| EOY | $31,929,131 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,693,880 | BOYAmt |
| EOY | $31,929,131 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,574,376,811 | BOYAmt |
| EOY | $1,945,070,005 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,574,376,811 | BOYAmt |
| EOY | $1,945,070,005 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,582,070,691 | BOYAmt |
| EOY | $1,976,999,136 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $21,181,150 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $349,512,044 | NetUnrlzdGainsLossesInvstAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUDWIG INSTITUTE FOR CANCER RESEARCH LTD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237121131 | EIN |
| Organization Type | 4 | OrganizationTypeCd |
| Governing Document Listed | Yes (true) | GoverningDocumentListedInd |
| Support | $57,931,211 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $57,931,211 | SupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (true) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | Yes (true) | SupportedOrgNotOrganizedUSInd |
| Control Deciding Grnt Frgn Org | false | ControlDecidingGrntFrgnOrgInd |
| Support Foreign Org No Determ | false | SupportForeignOrgNoDetermInd |
| Organization Change Suprt Org | false | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | false | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (true) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | false | OperateBenefitNonSuprtOrgInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp | |
| Leasehold Improvements | LeaseholdImprovementsGrp | |
| Equipment | EquipmentGrp | |
| Other Land Buildings | OtherLandBuildingsGrp | |
| Financial Derivatives | FinancialDerivativesGrp | |
| Closely Held Equity Interests | CloselyHeldEquityInterestsGrp |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| EQUITY INVESTMENTS | $628,010,041 | F |
| FIXED INCOME INVESTMENTS | $64,815,545 | F |
| ALTERNATIVE INVESTMENTS | $1,248,866,211 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $1,941,691,797 | TotalBookValueSecuritiesAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $433,503,479 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $349,512,044 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $349,512,044 | RevenueNotReportedAmt |
| Revenue Subtotal | $83,991,435 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $2,974,006 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $2,974,006 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $86,965,441 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $62,810,285 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $62,810,285 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $2,974,006 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $2,974,006 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $65,784,291 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PART X, LINE 2 | FormAndLineReferenceDesc |
| Explanation | THE FUND 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 FUND'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. THE FUND DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX LIABILITY FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019. | ExplanationTxt |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (11 entries)
| RegionRegionTxt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|
| Europe (Including Iceland and Greenland) | Grantmaking | $57,181,211 |
| Europe (Including Iceland and Greenland) | Conduct board meetings | $60,000 |
| South America | Investments | $37,615,054 |
| Russia and the Newly Independent States | Investments | $2,099,085 |
| Europe (Including Iceland and Greenland) | Investments | $43,667,370 |
| Central America and the Caribbean | Investments | $121,967,402 |
| East Asia and the Pacific | Investments | $162,023,711 |
| North America | Investments | $9,814,709 |
| Sub-Saharan Africa | Investments | $131,127 |
| Middle East and North Africa | Investments | $202,814 |
| South Asia | Investments | $1,433,099 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Spent | $436,195,582 | SubtotalSpentAmt |
| Total Spent | $436,195,582 | TotalSpentAmt |
Grants To Org Outside US GrantsToOrgOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Europe (Including Iceland and Greenland) | RegionTxt |
| Purpose Of Grant | CANCER RESEARCH | PurposeOfGrantTxt |
| Cash Grant | $57,181,211 | CashGrantAmt |
| Manner Of Cash Disbursement | WIRE TRNFR | MannerOfCashDisbursementTxt |
| Description Of Non Cash Asst | N/A | DescriptionOfNonCashAsstTxt |
| Valuation Method Used | N/A | ValuationMethodUsedDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (true) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (true) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (true) | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | UNDER THE CERTIFICATE OF INCORPORATION (ARTICLES IV AND VI) OF LICR FUND, INC. ("THE FUND"), THE MEMBERS OF THE BOARD OF DIRECTORS OF THE FUND ARE THE SAME AS THE MEMBERS OF THE BOARD OF DIRECTORS OF ITS SUPPORTED ORGANIZATION, LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("THE INSTITUTE"), A MEDICAL RESEARCH INSTITUTE ORGANIZED UNDER THE LAWS OF SWITZERLAND. THE BOARD OF THE FUND MONITORS THE USE OF GRANTS AND OTHER ASSISTANCE PROVIDED TO THE INSTITUTE BY MEANS OF DETAILED FINANCIAL AND PROGRAMMATIC REPORTS RENDERED TO THEM IN THEIR CAPACITY AS DIRECTORS OF BOTH ORGANIZATIONS. THREE OF THE MEMBERS OF THE BOARD OF DIRECTORS OF THE FUND AND THE INSTITUTE ARE ALSO TRUSTEES OF THE LICR CHARITABLE TRUST, A TYPE II SUPPORTING ORGANIZATION OF THE INSTITUTE, WHOSE MISSION IS TO MAINTAIN OVERSIGHT OF THE MANAGEMENT OF THE INSTITUTE'S PROGRAMS AND OPERATIONS. IN THEIR CAPACITY AS MEMBERS OF THE BOARD OF DIRECTORS AND TRUSTEES, THEY MONITOR THE USE OF GRANTS THROUGH DETAILED FINANCIAL AND PROGRAMMATIC REPORTS THAT ARE PROVIDED TO THEM. |
| PART I, LINE 3 (1): | LICR FUND, INC. PROVIDES GRANTS AND OTHER ASSISTANCE TO THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD, WHICH USES THE FUNDS TO CONDUCT CANCER RESEARCH. EXPENDITURES ARE TRACKED THROUGH LICR FUND'S INTERNAL ACCOUNTING SYSTEM. |
| PART I, LINE 3 (3-11) COL. (F): | THE FUND INVESTS IN VARIOUS INVESTMENT VEHICLES WHICH IN TURN MAKE FOREIGN INVESTMENTS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HARVARD MEDICAL SCHOOL | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 LONGWOOD AVE | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02115 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 042103580 | RecipientEIN |
| IRC Section | 501(c)(3) | IRCSectionDesc |
| Cash Grant | $750,000 | CashGrantAmt |
| Valuation Method Used | COST | ValuationMethodUsedDesc |
| Non Cash Assistance | N/A | NonCashAssistanceDesc |
| Purpose Of Grant | CANCER RESEARCH | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION RECEIVES REGULAR REPORTS, AND ANNUAL WRITTEN REPORTS, AS WELL AS COPIES OF ALL RELEVANT PUBLICATIONS. ALL PUBLICATIONS INCLUDE AN ORGANIZATION ATTRIBUTION AS DEFINED IN THE GIFT TERMS. IN ADDITION, ANNUAL FINANCIAL REPORTS ON THE USE OF THE GIFT FUNDS ARE PROVIDED TO THE ORGANIZATION BY THE RECIPIENT. THE RECIPIENT'S STAFF AND INVESTIGATORS ARE ALSO AVAILABLE TO ANSWER ANY SCIENTIFIC QUESTIONS AS THEY ARISE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EDWARD A MCDERMOTT JR | ||||||||||||||
| DIRECTOR, PRESIDENT | $0 | $915,836 | $0 | $0 | $0 | $0 | $0 | $61,433 | $0 | $34,972 | $0 | $1,012,241 | $0 | $0 |
| DR CHI VAN DANG | ||||||||||||||
| DIRECTOR | $0 | $931,911 | $0 | $0 | $0 | $0 | $0 | $29,925 | $0 | $35,410 | $0 | $997,246 | $0 | $0 |
| XING CHEN | ||||||||||||||
| VICE PRESIDENT, CIO, TREASURER | $0 | $647,183 | $0 | $300,200 | $0 | $0 | $0 | $211,698 | $0 | $16,174 | $0 | $1,175,255 | $0 | $0 |
| ALEXANDER BORISSOV | ||||||||||||||
| SECRETARY | $0 | $246,024 | $0 | $0 | $0 | $0 | $0 | $51,827 | $0 | $16,461 | $0 | $314,312 | $0 | $0 |
| AVANTIKA PATEL | ||||||||||||||
| ASST. SECRETARY | $0 | $321,315 | $0 | $93,812 | $0 | $0 | $0 | $130,860 | $0 | $36,516 | $0 | $582,503 | $0 | $0 |
| CHRISTOPHER T CONROY | ||||||||||||||
| ASST. TREASURER | $0 | $210,926 | $0 | $0 | $0 | $0 | $0 | $84,002 | $0 | $36,516 | $0 | $331,444 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A: | LICR FUND, INC. FOLLOWS LUDWIG INSTITUTE FOR CANCER RESEARCH LTD'S ("THE INSTITUTE") TRAVEL POLICY. THE INSTITUTE'S TRAVEL POLICY ALLOWS FIRST CLASS AIR TRAVEL ONLY UNDER EXTRAORDINARY CIRCUMSTANCES. THESE INCLUDE MEDICAL REASONS OR, FOR TRIPS EXCEEDING 5 HOURS, WHERE BUSINESS CLASS OR ITS EQUIVALENT IS NOT OFFERED. ON OCCASIONS THAT CALL FOR THE SPOUSE OR PARTNER OF MEMBERS OF THE BOARD OR OFFICERS TO BE INVITED TO ATTEND AN LICR FUND, INC. MEETING OR FUNCTION, EXPENSES FOR THESE GUESTS ARE REIMBURSED ON THE SAME CONDITIONS (INCLUDING CLASS OF TRAVEL) AS THE MEMBER OF THE BOARD OR OFFICER AS DESCRIBED IN THE FOREGOING TRAVEL POLICY. |
| PART I, LINE 3: | EDWARD A. MCDERMOTT, JR. IS EMPLOYED BY THE LUDWIG GROUP, INC. ("LGI") WHICH PROVIDES MANAGEMENT SERVICES TO LICR FUND, INC. ("THE FUND") AND OTHER ORGANIZATIONS. THE FUND IS INVOICED BY LGI FOR THE PROVISION OF SERVICES BASED ON THE TIME RECORDS MAINTAINED BY LGI. THE TOTAL LEVEL OF COMPENSATION FOR MR. MCDERMOTT, WHICH IS PAID BY LGI UNDER AN EMPLOYMENT AGREEMENT, IS SET AND APPROVED BY THE COMPENSATION COMMITTEE OF THE INSTITUTE, WHOSE MEMBERS CONSTITUTE THE COMPENSATION COMMITTEE OF THE FUND. IN SETTING THE LEVEL OF COMPENSATION, THE FUND'S AND THE INSTITUTE'S COMPENSATION COMMITTEES ARRANGE FOR INDEPENDENT COMPENSATION SURVEYS AND COMPARISONS TO COMPENSATION PAID BY OTHER ORGANIZATIONS USING DATA AVAILABLE FROM OTHER ORGANIZATIONS' FORMS 990. USING THIS INFORMATION, THE COMPENSATION COMMITTEES SET THE LEVEL OF COMPENSATION AND AUTHORIZE THE BOARD OF DIRECTORS OF LGI TO PAY COMPENSATION AT THIS LEVEL. |
| PART I, LINE 4B: | DURING 2020, EDWARD A. MCDERMOTT, JR., XING CHEN, AND AVANTIKA PATEL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (THE "SUPPLEMENTAL PLAN") WHICH IS MAINTAINED BY THE LUDWIG GROUP, INC. ("LGI"), A RELATED ORGANIZATION OF LICR FUND, INC. THE PURPOSE OF LGI'S SUPPLEMENTAL PLAN IS TO PROVIDE BENEFITS TO CERTAIN SELECT MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES WHO ARE PARTICIPANTS IN THE EMPLOYEE PENSION PLAN OF THE LUDWIG GROUP, INC. (THE "QUALIFIED PLAN"). ALL BENEFITS PAYABLE UNDER THE SUPPLEMENTAL 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 NONQUALIFIED, UNFUNDED DEFERRED COMPENSATION PLAN FOR A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES UNDER ERISA, SHALL BE PAID OUT OF 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 AMOUNTS DISCLOSED ON PART VII, SECTION A, LINE 1A, COLUMN (F), $115,141, $51,683, AND $12,184 ARE ATTRIBUTABLE TO THE SUPPLEMENTAL PLAN FOR MR. CHEN, MS. PATEL, AND MR. MCDERMOTT RESPECTIVELY. |
| PART I, LINE 7: | XING CHEN (VICE PRESIDENT, CHIEF INVESTMENT OFFICER, AND TREASURER) AND AVANTIKA PATEL (SENIOR INVESTMENT ANALYST, ASST. SECRETARY) ARE PARTICIPANTS IN THE LGI INVESTMENT MANAGEMENT INCENTIVE COMPENSATION PLAN ("THE PLAN") ESTABLISHED BY LGI AND REVIEWED AND APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE OF LICR FUND, INC. FOLLOWING ADVICE FROM AN INDEPENDENT CONSULTANT IN THE FIELD. THE PLAN PROVIDES FOR PAYMENT OF INCENTIVE AWARDS, IN ADDITION TO BASE COMPENSATION, BASED ON RELATIVE ACHIEVEMENT OF PERFORMANCE OBJECTIVES. SEVENTY PERCENT OF THE INCENTIVE AWARD IS DETERMINED BY A QUANTITATIVE PERFORMANCE METRIC, WHICH IS BASED ON PERFORMANCE RELATIVE TO PEER GROUP PERFORMANCE AND BENCHMARK PERFORMANCE OVER A ONE AND THREE YEAR TIME HORIZON, WITH GREATER WEIGHT ACCORDED THE THREE YEAR PERFORMANCE. THE QUANTITATIVE PORTION OF THE INCENTIVE AWARD IS REDUCED IF THE DOWNSIDE VOLATILITY OF THE LICR FUND PORTFOLIO IS GREATER THAN THAT OF THE BENCHMARK BY A PRESCRIBED AMOUNT. UP TO THIRTY PERCENT OF THE INCENTIVE AWARD IS DISCRETIONARY, BASED ON QUALITATIVE PERFORMANCE AND IS PAID BY THE DISCRETION OF MANAGEMENT (E.G. DEVELOPED ACHIEVABLE LONG-TERM STRATEGY, MAINTAINED EFFECTIVE CONTROL OF OPERATIONS, ENSURED APPROPRIATE SYSTEMS ARE MAINTAINED TO PROTECT ASSETS.) |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArtGrp | |
| Art Historical Treasures | ArtHistoricalTreasuresGrp | |
| Art Fractional Interest | ArtFractionalInterestGrp | |
| Books And Publications | BooksAndPublicationsGrp | |
| Clothing And Household Goods | ClothingAndHouseholdGoodsGrp | |
| Cars And Other Vehicles | CarsAndOtherVehiclesGrp | |
| Boats And Planes | BoatsAndPlanesGrp | |
| Intellectual Property | IntellectualPropertyGrp |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $36,104 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities Closely Held Stock | SecuritiesCloselyHeldStockGrp | |
| Secur Prtnrshp Trust Intrsts | SecurPrtnrshpTrustIntrstsGrp | |
| Securities Miscellaneous | SecuritiesMiscellaneousGrp | |
| Qualified Contrib Hist Struct | QualifiedContribHistStructGrp | |
| Qualified Contrib Other | QualifiedContribOtherGrp | |
| Real Estate Residential | RealEstateResidentialGrp | |
| Real Estate Commercial | RealEstateCommercialGrp | |
| Real Estate Other | RealEstateOtherGrp | |
| Collectibles | CollectiblesGrp | |
| Food Inventory | FoodInventoryGrp | |
| Drugs And Medical Supplies | DrugsAndMedicalSuppliesGrp | |
| Taxidermy | TaxidermyGrp | |
| Historical Artifacts | HistoricalArtifactsGrp | |
| Scientific Specimens | ScientificSpecimensGrp | |
| Archaeological Artifacts | ArchaeologicalArtifactsGrp | |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 9, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. | FormAndLineReferenceDesc |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART IV, LINE 12A AND PART XII, LINE 2C: | LICR FUND INC.'S FINANCIAL STATEMENTS ARE PREPARED IN ACCORDANCE WITH U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. IN ADDITION, LICR FUND, INC.'S FINANCIAL INFORMATION IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD, WHICH ARE PREPARED IN ACCORDANCE WITH SWISS GAAP FER. |
| FORM 990, PART VI, SECTION A, LINE 2: | EDWARD A. MCDERMOTT, JR., XING CHEN AND CHRISTOPHER T. CONROY WHO ARE OFFICERS OF LICR FUND, ARE ALSO OFFICERS OF THE LUDWIG GROUP, INC. AND UNIVERSE TANKSHIPS, INC. EACH OF THE DIRECTORS OF THE FUND IS ALSO A DIRECTOR OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD, WHICH IS THE SUPPORTED ORGANIZATION OF THE FUND. |
| FORM 990, PART VI, SECTION A, LINE 3: | THE LUDWIG GROUP, INC. ("LGI"), A 100% SUBSIDIARY OF THE LUDWIG INSTITUTE FOR CANCER REREARCH, LTD PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO LICR FUND, INC. UNDER A FORMAL SERVICE AGREEMENT. SERVICES PROVIDED INCLUDE ACCOUNTING SUPPORT AND PREPARING U.S. GOVERNMENT FILINGS, AS WELL AS PERSONNEL SERVICES AND RELATED FACILITIES AND EQUIPMENT SUPPORT. THE FOLLOWING OFFICERS OF LICR FUND, INC. ARE COMPENSATED BY LGI. COMPENSATION FOR THESE INDIVIDUALS LISTED ON FORM 990, PART VII IS PAID BY LGI. THESE INDIVIDUALS' SERVICES TO THE FUND ARE BILLED TO THE FUND BY LGI: EDWARD A. MCDERMOTT, JR. - PRESIDENT XING CHEN - VICE PRESIDENT, CHIEF INVESTMENT OFFICER, TREASURER AVANTIKA PATEL - ASSISTANT SECRETARY, SENIOR INVESTMENT ANALYST CHRISTOPHER T. CONROY - ASSISTANT TREASURER |
| FORM 990, PART VI, SECTION A, LINE 6: | THE ORGANIZATION IS A NONPROFIT, NONSTOCK MEMBERSHIP CORPORATION INCORPORATED IN THE STATE OF DELAWARE. THE ORGANIZATION'S GOVERNING DOCUMENTS PROVIDE THAT ITS MEMBERS SHALL BE THE SAME PERSONS AS THE MEMBERS OF THE BOARD OF DIRECTORS OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("LICR") THEN IN OFFICE. LICR IS A SWISS MEDICAL RESEARCH ORGANIZATION OF WHICH THE ORGANIZATION IS A SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION'S GOVERNING DOCUMENTS ALSO PROVIDE THAT THE MEMBERS OF THE ORGANIZATION SHALL CONSTITUTE ITS BOARD OF DIRECTORS. IN OTHER WORDS, THE MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS ARE THE SAME AS ITS MEMBERS. WHILE THE ORGANIZATION'S GOVERNING DOCUMENTS PROVIDE THAT THE MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS SHALL ELECT THE MEMBERS OF THE BOARD AT ITS ANNUAL MEETING, THE BOARD'S AUTHORITY IS IN EFFECT LIMITED TO CARRYING OUT DECISIONS IN THIS REGARD MADE BY THE BOARD OF DIRECTORS OF LICR, WHO ARE THEMSELVES ELECTED BY THE TRUSTEES OF THE LICR CHARITABLE TRUST, A BERMUDA TRUST RECOGNIZED BY THE IRS AS AN EXEMPT SUPPORTING ORGANIZATION OF LICR UNDER SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE, WHOSE PRIMARY PURPOSE IS TO ADMINISTER, DEVOTE, AND APPLY ITS ASSETS TO FURTHER THE CHARITABLE AND SCIENTIFIC PURPOSES OF LICR. |
| FORM 990, PART VI, SECTION A, LINE 7A: | CERTAIN DIRECTORS OF THE ORGANIZATION ALSO SERVE AS TRUSTEES OF THE LICR CHARITABLE TRUST ("THE TRUST"), A RELATED ORGANIZATION WHOSE PRIMARY PURPOSE IS TO ADMINISTER, DEVOTE, AND APPLY ITS ASSETS TO FURTHER THE CHARITABLE AND SCIENTIFIC PURPOSES OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("LICR"). AS THE MAJORITY SHAREHOLDER OF LICR, THE TRUST HAS THE AUTHORITY TO ELECT AND REMOVE MEMBERS OF THE BOARD OF DIRECTORS AS STATED IN THE GOVERNING DOCUMENTS OF LICR. THREE OF THE DIRECTORS OF THE ORGANIZATION ALSO SERVE AS TRUSTEES OF THE TRUST AND HOLD THE AUTHORITY TO ELECT THE INSTITUTE'S BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B: | UNDER GOVERNING DELAWARE LAW, CERTAIN GOVERNANCE DECISIONS ARE RESERVED TO THE MEMBERS OF THE ORGANIZATION, INCLUDING AMENDMENT OF THE ORGANIZATION'S BYLAWS, MERGER OF THE ORGANIZATION WITH ANOTHER NONSTOCK CORPORATION, AND DISSOLUTION OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B: | THE FUND'S FORM 990 IS REVIEWED AT SEVERAL LEVELS. THE FUND'S MANAGEMENT AND EXTERNAL TAX COUNSEL REVIEW THE DRAFT FORM 990. FOLLOWING THESE REVIEWS, THE CHAIRPERSON OF THE AUDIT COMMITTEE AND THE PRESIDENT OF THE FUND REVIEW THE DRAFT RETURN PRIOR TO PRESENTING IT TO THE AUDIT COMMITTEE FOR FURTHER REVIEW. THE FINAL DRAFT OF FORM 990 IS THEN PRESENTED TO THE FUND'S BOARD OF DIRECTORS PRIOR TO ITS SUBMISSION TO THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C: | THE FUND HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH WAS LAST UPDATED IN 2018. ANNUALLY, ALL MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST BY COMPLETING A CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES OF THE MEMBERS OF THE BOARD OF DIRECTORS AND EXECUTIVE OFFICERS ARE REVIEWED BY THE COMPLIANCE AND RISK OFFICER OF THE INSTITUTE. THOSE CONTAINING ANY DISCLOSURES OR POTENTIAL CONFLICTS OF INTEREST ARE REFERRED TO THE CHAIRPERSON OF THE AUDIT COMMITTEE AND, IF APPROPRIATE, TO THE AUDIT COMMITTEE. AT THIS TIME, IT IS ALSO CONFIRMED TO THE AUDIT COMMITTEE CHAIRPERSON THAT THE OTHER INDIVIDUALS HAD NOT REPORTED ANY DISCLOSURES OR POTENTIAL CONFLICTS OF INTEREST. FOLLOWING THIS ANNUAL DISCLOSURE, IF A CONFLICT OF INTEREST IS SUBSEQUENTLY DEEMED TO EXIST, IT IS THE DUTY OF THE INDIVIDUAL WITH THE CONFLICT TO DISCLOSE IT. FOR ALL CASES WHERE A CONFLICT OF INTEREST EXISTS, THE MATTER IS RECORDED IN THE MINUTES OF THE AUDIT COMMITTEE OR THE BOARD. WHERE THE CONFLICT CONCERNS ANY BOARD OR COMMITTEE MEMBER, HE OR SHE IS NOT PERMITTED TO PARTICIPATE IN ANY VOTE OR DELIBERATION ON THE MATTER NOR BE COUNTED IN DETERMINING THE EXISTENCE OF A QUORUM FOR THE PURPOSES OF ANY ACTION OF THE BOARD OR COMMITTEE CONSIDERING THE MATTER. |
| FORM 990, PART VI, SECTION B, LINES 15A-B AND SCH J, PART I, LINE 3 | THE OFFICERS OF LICR FUND, INC. ARE APPOINTED BY THE BOARD OF DIRECTORS. LICR FUND, INC. IS PARTY TO AN AGREEMENT WITH THE LUDWIG GROUP, INC. ("LGI") WHEREBY LGI PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES AS NEEDED BY LICR FUND, INC. THE FOLLOWING OFFICERS OF LICR FUND, INC. ARE EMPLOYED AND PAID BY LGI: EDWARD A. MCDERMOTT, JR.- PRESIDENT XING CHEN - VICE PRESIDENT, CHIEF INVESTMENT OFFICER, TREASURER AVANTIKA PATEL - SENIOR INVESTMENT ANALYST, ASSISTANT SECRETARY CHRISTOPHER T. CONROY - ASSISTANT TREASURER THE SECRETARY TO THE BOARD OF LICR FUND, INC., ALEXANDER BORISSOV, IS ALSO THE RISK AND COMPLIANCE OFFICER AND SECRETARY TO THE BOARD OF LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ("THE INSTITUTE") AND IS EMPLOYED AND PAID BY THE INSTITUTE. ALL ADJUSTMENTS TO THE COMPENSATION OF THE BOARD OF DIRECTORS AND THE PRESIDENT ARE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE INSTITUTE (EST 1995), WHOSE MEMBERS CONSTITUTE THE COMPENSATION COMMITTEE OF THE FUND (EST 2014). EACH COMMITTEE CONSISTS OF NO LESS THAN THREE INDEPENDENT MEMBERS OF THE BOARD. INCREASES ARE EFFECTED FOLLOWING SURVEYS CARRIED OUT BY INDEPENDENT COMPENSATION CONSULTANTS. (SEE SCH. O FOR SCH. J, PART I, LINE 3 FOR ADDITIONAL INFORMATION). COMPARABILITY STUDIES ARE CARRIED OUT EVERY THREE YEARS, MOST RECENTLY IN APRIL OF 2019. ORGANIZATIONS SELECTED FOR PEER ANALYSIS IN THE COMPARABILITY SURVEYS ARE INTENDED TO CAPTURE COMPETITOR ORGANIZATIONS OF SIMILAR SIZE, REVENUE/OPERATING BUDGET, AND INDUSTRY RELEVANCE TO THE INSTITUTE. ALL ADJUSTMENTS TO THE VICE PRESIDENT, CHIEF INVESTMENT OFFICER, AND TREASURER ARE REVIEWED AND APPROVED SOLELY BY THE FUND'S COMPENSATION COMMITTEE. ADJUSTMENTS TO THE COMPENSATION OF THE SECRETARY ARE REVIEWED AND APPROVED BY THE INSTITUTE'S COMPENSATION COMMITTEE FOLLOWING SURVEYS CARRIED OUT BY INDEPENDENT COMPENSATION CONSULTANTS. MINUTES OF THE REVIEW AND DECISIONS MADE BY THE COMPENSATION COMMITTEE ARE KEPT AND, ONCE APPROVED AT A SUBSEQUENT MEETING OF THE COMMITTEE, ARE SIGNED BY THE CHAIRPERSON AND THE SECRETARY. THE COMPENSATION COMMITTEE'S DECISIONS ARE REPORTED TO THE BOARD OF DIRECTORS AND DETAILS RECORDED IN THE MINUTES OF THE BOARD MEETINGS. ONCE APPROVED BY THE BOARD AT A SUBSEQUENT MEETING, THE MINUTES OF THE MEETINGS ARE SIGNED BY THE CHAIRPERSON AND THE SECRETARY. OTHER OFFICERS' COMPENSATION IS REVIEWED AND APPROVED BY THE PRESIDENT. THE MAJORITY OF WORKING TIME OF THE VICE PRESIDENT/CHIEF INVESTMENT OFFICER/TREASURER, AND THE ASSISTANT SECRETARY/SENIOR INVESTMENT ANALYST IS DEVOTED TO LICR FUND, INC. ACTIVITIES. THE COMPENSATION ARRANGEMENTS OF THE VICE PRESIDENT/CHIEF INVESTMENT OFFICER/TREASURER AND THE ASSISTANT SECRETARY/SENIOR INVESTMENT ANALYST INCLUDE PARTICIPATION IN THE LGI INVESTMENT MANAGEMENT INCENTIVE COMPENSATION PLAN ("THE PLAN") AS DESCRIBED IN SCH. J, PART III. MINUTES OF THE DELIBERATIONS OF ALL COMMITTEE AND BOARD MEETINGS OF LICR FUND, INC. AND LUDWIG INSTITUTE FOR CANCER RESEARCH LTD ARE KEPT AND ARE SUBSEQUENTLY APPROVED BY THE RESPECTIVE COMMITTEE OR BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 19: | LICR FUND, INC. MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS WEBSITE. (HTTPS://WWW.LUDWIGCANCERRESEARCH.ORG/DISCLOSURES/) LICR FUND, INC.'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORMS 990 AND 990-T ARE AVAILABLE UPON REQUEST AT ITS OFFICE IN NEW YORK. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| LUDWIG INSTITUTE FOR CANCER RESEARCH LTD | ||||||||||
| 666 THIRD AVENUE 28TH FLOOR | NEW YORK | NY | 10017 | 237121131 | CANCER RSRCH | SZ | 501(C)(3) | 4 | NONE | false |
| LICR CHARITABLE TRUST | ||||||||||
| 666 THIRD AVENUE 28TH FLOOR | NEW YORK | NY | 10017 | 986039547 | ELECT BOARD | BD | 501(C)(3) | 12B,TYPE II | NONE | false |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VOSS VALUE OFFSHORE FUND LTD | BusinessNameLine1Txt |
Foreign Address ForeignAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 27 HOSPITAL ROAD | AddressLine1Txt |
| City | GEORGE TOWN | CityNm |
| Province Or State | GRAND CAYMAN | ProvinceOrStateNm |
| Country | CJ | CountryCd |
| Foreign Postal | KYI-9008 | ForeignPostalCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 981518665 | EIN |
| Primary Activities | INVESTMENTS | PrimaryActivitiesTxt |
| Legal Domicile Foreign Country | CJ | LegalDomicileForeignCountryCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LICR FUND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Predominant Income Type | EXCLUDED FROM TAX | PredominantIncomeTypeTxt |
| Share Of Total Income | -$420,875 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $19,499,340 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | false | DisproportionateAllocationsInd |
| UBI Code V | -$5 | UBICodeVAmt |
| General Or Managing Partner | false | GeneralOrManagingPartnerInd |
| Ownership | 0.76156 | OwnershipPct |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1ForeignAddress/AddressLine1Txt | CityForeignAddress/CityNm | CountryForeignAddress/CountryCd | Foreign PostalForeignAddress/ForeignPostalCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Controlled OrganizationControlledOrganizationInd | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Legal Domicile StateLegalDomicileStateCd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UNIVERSE TANKSHIPS INC (UTI) | ||||||||||||||||
| TRUST COMPLEX AJELTAKE RD | MAJURO | RM | MH96960 | 131603827 | HOLDING CO | RM | LICR | C CORP | $0 | $0 | false | |||||
| THE LUDWIG GROUP INC (LGI) | ||||||||||||||||
| 132808920 | ADMIN SERVICES | UTI | C CORP | $0 | $0 | false | 666 THIRD AVENUE 28TH FLOOR | NEW YORK | NY | 10017 | DE | |||||
| LUDWIG TECHNOLOGIES INC | ||||||||||||||||
| 273166967 | HOLDING CO | LICR | C CORP | $0 | $0 | false | 666 THIRD AVENUE 28TH FLOOR | NEW YORK | NY | 10017 | DE | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (true) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VOSS VALUE OFFSHORE FUND LTD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $12,588,670 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, COLUMN B - DESCRIPTION OF PRINCIPAL ACTIVITY OF RELATED | FormAndLineReferenceDesc |
| Explanation | TAX-EXEMPT ORGANIZATIONS: LUDWIG INSTITUTE FOR CANCER RESEARCH LTD IS AN INTERNATIONAL NOT-FOR-PROFIT INSTITUTE COMMITTED TO PREVENTING AND CONTROLLING CANCER THROUGH INTEGRATED LABORATORY AND CLINICAL RESEARCH. LICR CHARITABLE TRUST IS BERMUDIAN TRUST WHOSE MISSION IS TO MAINTAIN OVERSIGHT AND CONTROL OF THE MANAGEMENT OF THE INSTITUTE AND THE FUND, INCLUDING ELECTION OF THE INSTITUTE'S BOARD OF DIRECTORS. | ExplanationTxt |