2025-07-09T06:41:53-05:00 2024-12-31 990 2024-01-01 236434390 THE WISTAR INSTITUTE OF ANATOMY AND BIOLOGY WIST 2154956922 3601 SPRUCE STREET PHILADELPHIA PA 191044265 CONSTANTINE STOIOS CHIEF FINANCIAL OFFICER 2154956922 2025-07-07 0 2024 2025-03-06 01:10:19Z CONSTANTINE STOIOS 3601 SPRUCE STREET PHILADELPHIA PA 19104 132586000 0 X WWW.WISTAR.ORG X 1892 PA BIOMEDICAL RESEARCH WITH SPECIAL EXPERTISE IN CANCER RESEARCH AND VACCINE DEVELOPMENT (IMMUNOLOGY). 32 32 455 68 278000 0 70736000 74373000 4069000 2535000 100471000 11614000 5974000 4608000 181250000 93130000 0 0 0 0 35855000 38912000 0 0 1854000 55967000 54950000 91822000 93862000 89428000 -732000 402392000 424946000 80282000 83349000 322110000 341597000 X THE MISSION OF THE WISTAR INSTITUTE IS TO MARSHAL THE TALENTS OF OUTSTANDING SCIENTISTS THROUGH A HIGHLY ENABLED CULTURE OF BIOMEDICAL COLLABORATION AND INNOVATION IN ORDER TO SOLVE SOME OF THE WORLD'S MOST CHALLENGING AND IMPORTANT PROBLEMS IN THE FIELD OF CANCER AND IMMUNOLOGY, AND PRODUCE GROUND-BREAKING ADVANCES IN WORLD HEALTH. CONSISTENT WITH A PIONEERING LEGACY OF LEADERSHIP IN NOT-FOR-PROFIT BIOMEDICAL RESEARCH AND A TRACK-RECORD OF LIFE-SAVING CONTRIBUTIONS IN IMMUNOLOGY AND CELL BIOLOGY, THE WISTAR INSTITUTE AIMS TO PURSUE NOVEL AND COURAGEOUS RESEARCH PATHS TO LIFE SCIENCE DISCOVERY, AND TO ACCELERATE/POTENTIATE THE IMPACT OF THOSE DISCOVERIES BY SHORTENING THE PATH FROM BENCH TO BEDSIDE. 0 0 73951000 2535000 THE WISTAR INSTITUTE IS THE NATION'S FIRST INDEPENDENT NONPROFIT INSTITUTION DEVOTED EXCLUSIVELY TO FOUNDATIONAL BIOMEDICAL RESEARCH AND TRAINING. THROUGH A CULTURE AND COMMITMENT TO BIOMEDICAL COLLABORATION AND INNOVATION, WISTAR SCIENCE LEADS TO BREAKTHROUGH EARLY-STAGE DISCOVERIES. WISTAR SCIENTISTS ARE DEDICATED TO SOLVING SOME OF THE WORLD'S MOST CHALLENGING PROBLEMS IN THE FIELDS OF CANCER AND IMMUNOLOGY, ADVANCING HUMAN HEALTH THROUGH EARLY-STAGE DISCOVERY AND TRAINING THE NEXT GENERATION OF BIOMEDICAL RESEARCHERS. CORE CENTERS WITHIN THE WISTAR INSTITUTE INCLUDES ITS INTERNATIONALLY RECOGNIZED ELLEN AND RONALD CAPLAN CANCER CENTER, DESIGNATED A NATIONAL CANCER INSTITUTE (NCI) CANCER CENTER IN 1972. IN 2015, THE CENTER RENEWED ITS DESIGNATION AND RECEIVED THE FIRST OF TWO CONSECUTIVE "EXCEPTIONAL" RATINGS THAT IT RETAINS TODAY, THE HIGHEST POSSIBLE RANKING A CANCER CENTER CAN RECEIVE. WISTAR'S HIV CURE AND VIRAL DISEASE CENTER IS ONE OF THE FEW CENTERS IN THE NATION DEDICATED TO HIV CURE RESEARCH. WISTAR SCIENTISTS AS WELL AS SCIENTISTS THROUGHOUT THE PHILADELPHIA REGION BENEFIT FROM THE TECHNOLOGICAL SUPPORT AND STATE-OF-THE-SCIENCE INSTRUMENTATION PROVIDED BY THE INSTITUTE'S SHARED RESOURCES.WISTAR'S HUBERT J.P. SCHOEMAKER EDUCATION AND TRAINING CENTER HAS LAUNCHED NEW COLLABORATIONS WITH LOCAL AND INTERNATIONAL INSTITUTIONS WITH THE GOAL OF EXPANDING LIFE SCIENCE EDUCATION IN PENNSYLVANIA AND BEYOND. WISTAR HAS A ROBUST RANGE OF STEM-BASED PROGRAMS FOCUSED ON LIFE SCIENCE CAREERS FOR STUDENTS AND ADULT LEARNERS. WISTAR'S EDUCATION & TRAINING PROGRAMS SUPPORT STEM-BASED, BIOMEDICAL RESEARCH CAREER OPPORTUNITIES FOR HIGH SCHOOL, UNDERGRADUATE, GRADUATE STUDENTS AND POSTDOCTORAL FELLOWS. 73951000 1 1 0 1 0 0 0 1 0 1 1 1 0 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 173 0 455 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 32 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR AZ CA CO CT FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X CONSTANTINE STOIOS CHIEF FINANCIAL OFFICER 2154956922 3601 SPRUCE STREET PHILADELPHIA PA 191044265 RICHARD M HOROWITZ TRUSTEE - BOARD CHAIR 4.00 X X 0 0 0 STEVEN V ABRAMSON TRUSTEE 1.00 X 0 0 0 ELIZABETH MCKEE ANDERSON TRUSTEE 2.00 X 0 0 0 MAX BERGER TRUSTEE 1.00 X 0 0 0 DOUGLAS S BRIGGS TRUSTEE 1.00 X 0 0 0 IRA BRIND TRUSTEE 1.00 X 0 0 0 RONALD CAPLAN TRUSTEE 2.00 X 0 0 0 CATHERINE CREESE ELECTED DEC 2024 TRUSTEE 1.00 X 0 0 0 ARTHUR DANTCHIK TRUSTEE 1.00 X 0 0 0 SUSAN B DILLON PHD TRUSTEE 1.00 X 0 0 0 DANIEL K FITZPATRICK TRUSTEE 1.00 X 0 0 0 JOSEPH A GOLDBLUM TRUSTEE 2.00 X 0 0 0 PERRY A LERNER TRUSTEE 1.00 X 0 0 0 SUSAN S MCDONALD PHD TRUSTEE 2.00 X 0 0 0 ABRAHAM L MORRIS TRUSTEE 1.00 X 0 0 0 PATRICK OATES TRUSTEE 1.00 X 0 0 0 ARTHUR M PAPPAS TRUSTEE 1.00 X 0 0 0 HELEN P PUDLIN ESQ TRUSTEE 1.00 X 0 0 0 SAMUEL V RHOADS TRUSTEE 1.00 X 0 0 0 ROBERT H ROCK TRUSTEE 1.00 X 0 0 0 GERALD B RORER TRUSTEE 1.00 X 0 0 0 ALEISTER SAUNDERS TRUSTEE 1.00 X 0 0 0 ADELE K SCHAEFFER TRUSTEE 1.00 X 0 0 0 MILTON S SCHNEIDER TRUSTEE 1.00 X 0 0 0 SQUIRE SERVANCE TRUSTEE 1.00 X 0 0 0 WILLIAM A SLAUGHTER TRUSTEE 1.00 X 0 0 0 JOY TAYLOR TRUSTEE 1.00 X 0 0 0 SOZI TULANTE TRUSTEE 1.00 X 0 0 0 CAROLYN MAGILL ELECTED DEC 2024 TRUSTEE 1.00 X 0 0 0 EDWARD ZIFF PHD TRUSTEE 1.00 X 0 0 0 CHARLES CAIRNS ELECTED DEC 2024 TRUSTEE 1.00 X 0 0 0 ELLIOT NORRY ELECTED MAR 2024 TRUSTEE 1.00 X 0 0 0 JOHN FRY LEFT NOV 2024 TRUSTEE 1.00 X 0 0 0 DARIO ALTIERI MD PRESIDENT & CEO, DIRECTOR 55.00 X 722629 0 54792 GELVINA STEVENSON VP GEN COUNSEL, SECRETARY& 55.00 X 388759 0 43897 CONSTANTINE STOIOS CHIEF FINANCIAL OFFICER 55.00 X 295997 0 66597 DAVID B WEINER EXECUTIVE VICE PRESIDENT 55.00 X 492577 0 69076 LUIS MONTANER PROFESSOR VP, SCIENTIFIC O 55.00 X 452720 0 73256 HEATHER A STEINMAN VP FOR BUSINESS DEVELOP & 55.00 X 347749 0 40300 JOANN MENDEL VICE PRESIDENT, HUMAN RESO 55.00 X 236284 0 38855 MICHAEL CRISCUOLO VP, DEVELOPMENT 55.00 X 283859 0 55443 PETER SCARPATI VP OPERATIONS 55.00 X 234961 0 32361 MICHELE SCHIAVONI VP COMMUNICATIONS & MARKETING 55.00 X 267125 0 31808 MEENHARD HERLYN PROFESSOR 55.00 X 298624 0 62520 PAUL LIEBERMAN PROFESSOR 55.00 X 285042 0 60447 MAUREEN MURPHY PROFESSOR 55.00 X 260169 0 57945 CHENGYU LIANG PROFESSOR 55.00 X 261764 0 67095 JEFFREY FAHNOE CHIEF INFORMATION OFFICER 55.00 X 256958 0 44983 5085217 0 799375 78 0 1 0 IMC CONSTRUCTION 3 GREAT VALLEY PARKWAY MALVERN PA 19335 CONSTRUCTION SERVICES 1994000 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 828854 PHILADELPHIA PA 191828854 SECURITY SERVICES 818000 DAVOS PHARMA 600 E CRESCENT AVENUE UPPER SADDLE RIVER NJ 07458 PHARMACEUTICAL SERVICES 495000 RIVERSIDE LAW LLP 175 STRAFFORD AVENUE SUITE 100 WAYNE PA 19087 LEGAL SERVICES 463000 TRIUMVIRATE ENVIRONMENTAL INC DEPT 106069 PO BOX 150502 HARTFORD CT 06115 ENVIRONMENTAL SOLUTIONS SERVICES 460000 30 58717000 15656000 2537000 74373000 RESEARCH CONTRACT REVENUE 541700 2535000 2535000 2535000 9391000 9391000 4245000 4245000 53000 46000 7000 7000 7000 41633000 39410000 2223000 2223000 2223000 SALES OF SPECIALIZED SERVICES 541700 278000 278000 78000 78000 356000 93130000 2535000 278000 15944000 4229000 1865000 2025000 339000 26241000 20278000 5282000 681000 2263000 1905000 324000 34000 4258000 2959000 1147000 152000 1921000 1484000 387000 50000 1443000 1442000 1000 202000 202000 272000 272000 587000 587000 4228000 2081000 1772000 375000 175000 175000 510000 271000 220000 19000 1495000 298000 1172000 25000 5123000 4533000 555000 35000 522000 410000 93000 19000 9000 7000 2000 1331000 1167000 155000 9000 8620000 7560000 1002000 58000 337000 3000 334000 SUBAWARDS 17578000 17578000 0 0 LAB SUPPLIES AND EQUIPM 10014000 9266000 748000 0 STIPENDS 1753000 1720000 33000 0 TUITION, HONRARIUM, AND 448000 316000 85000 47000 303000 250000 43000 10000 93862000 73951000 18057000 1854000 4320000 12430000 11011000 1976000 24933000 22851000 19630000 24580000 657000 698000 4543000 3501000 202437000 109992000 91899000 92445000 194682000 214668000 28747000 23262000 21970000 28535000 402392000 424946000 16689000 16130000 10813000 14411000 52780000 52808000 80282000 83349000 X 224558000 238327000 97552000 103270000 322110000 341597000 402392000 424946000 X -732000 16598000 3621000 X 0 1 X 1 1 1 X 51614000 95470000 72907000 70736000 74373000 365100000 51614000 95470000 72907000 70736000 74373000 365100000 22996200 342103800 9496000 11446000 9829000 14823000 13689000 59283000 216000 182000 113000 123000 78000 712000 425095000 19016000 0.80480 0.82020 X PART II, LINE 8 INCLUDES $4,245,000 LICENSING INCOME, $9,391,000 DIVIDENDS AND INTEREST, AND $53,000 RENT REVENUE. PART II, LINE 10 INCLUDES $78,000 MISCELLANEOUS INCOME (POWER REDUCTION REFUND AND OTHER MISCELLANEOUS REBATES). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 272000 0 0 272000 0 PART II-B, LINE 1: THE WISTAR INSTITUTE ENGAGED THE SERVICES OF TWO LOBBYING FIRMS WHOSE RESPONSIBILITIES ARE TO PROVIDE GOVERNMENT RELATIONS SERVICES TO THE WISTAR INSTITUTE AT THE FEDERAL, STATE AND LOCAL LEVELS. DUTIES INCLUDE MONITORING AND TRACKING LEGISLATION WHICH MAY BE OF INTEREST TO THE WISTAR INSTITUTE, ARRANGING MEETINGS WITH LEGISLATORS AND ARRANGING VISITS OF LEGISLATORS TO THE WISTAR INSTITUTE, AND ASSISTING IN FINDING FUNDING SOURCES FOR PROGRAMS. IN ADDITION, A NUMBER OF WISTAR STAFF PARTICIPATE IN ADVOCACY ON A REGULAR BASIS BY PARTICIPATING IN VISITS TO LEGISLATIVE OFFICES IN HARRISBURG, PA AND BY HOSTING VISITS OF STATE AND FEDERAL LEGISLATORS TO THE WISTAR INSTITUTE. WE ALSO OCCASIONALLY ASK OUR BOARD, EMPLOYEES OR FRIENDS/VOLUNTEERS TO WRITE LETTERS OR CALL THEIR REPRESENTATIVES REGARDING LEGISLATION THAT MAY IMPACT WISTAR. X X X 0 71559000 2237000 10757000 1439000 83114000 58049000 2529000 12270000 1289000 71559000 71500000 1041000 -13297000 1195000 58049000 62934000 286000 9350000 1070000 71500000 54250000 41000 9591000 948000 62934000 0.65000 0.24000 0.11000 0 0 685000 685000 99543000 48561000 50982000 0 95405000 60119000 35286000 6804000 1312000 5492000 92445000 ALTERNATIVE INVESTMENTS 23262000 F 23262000 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUSTS 1167000 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 20504000 INTEREST RATE SWAP 1970000 RIGHT OF USE LEASE ASSET 4894000 28535000 X 112530000 16598000 3034000 19632000 92898000 232000 232000 93130000 93043000 46000 46000 92997000 865000 865000 93862000 PART III, LINE 1A: COLLECTIONS CONSIST OF FAMILY MEMORABILIA AND OTHER ARTIFACTS WHICH ARE NOT USED IN THE INSTITUTE'S OPERATIONS. PART III, LINE 4: THE INSTITUTE'S COLLECTIONS CONSTITUTE A HISTORY OF MEDICAL SCIENCE IN PHILADELPHIA AND THE HISTORY OF VACCINE DEVELOPMENT. THE MUSEUM COLLECTIONS ARE TIED TO OUR DEEDS OF TRUST AND HAVE SIGNIFICANT HISTORICAL VALUE, AS WISTAR WAS ESTABLISHED AS THE FIRST INDEPENDENT NONPROFIT BIOMEDICAL RESEARCH INSTITUTE IN THE COUNTRY. PART V, LINE 4: MANAGEMENT DETERMINES THE PRUDENT USE OF THE ENDOWMENT FUNDS TO SUPPORT GENERAL PURPOSES AND RESEARCH AND TRAINING PROGRAMS AS SPECIFIED BY THE VARIOUS ENDOWMENT PROGRAMS. PART X, LINE 2: THE INSTITUTE IS A NOT-FOR-PROFIT INSTITUTE WHICH HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE INSTITUTE ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT BELIEVES THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD FOR THE YEAR 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SPLIT-INTEREST AGREEMENTS 1,634,000. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 4,000. PENSION - NET GAIN 1,947,000. INTEREST RATE SWAP - NET GAIN 36,000. INVESTMENT MANAGEMENT FEES -587,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -46,000. UNRELATED BUSINESS RECEIPTS 278,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 46,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT AND CUSTODIAL FEES 587,000. UNRELATED BUSINESS REVENUES 278,000. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 9831000 0 0 0 0 0 0 9831000 0 9831000 1 0 1 1 1 0 PART I, LINE 3 ALTHOUGH WISTAR MAINTAINS INTERESTS IN THESE FOREIGN CORPORATIONS AND PARTNERSHIPS, ITS OWNERSHIP PERCENTAGE DID NOT MEET THE THRESHOLD FOR REPORTING ON IRS FORM 5471 AND 8865. WISTAR MADE TRANSFERS TO FOREIGN CORPORATIONS THAT EXCEEDED THE THRESHOLD TO FILE FORM 926. X X X 0 1 X X X X 0 0 0 0 0 0 0 1 0 DARIO ALTIERI MD PRESIDENT & CEO, DIRECTOR 715771 0 0 0 6858 0 44850 0 9942 0 777421 0 0 0 DAVID B WEINER EXECUTIVE VICE PRESIDENT 401163 0 85500 0 5914 0 43150 0 25926 0 561653 0 0 0 LUIS MONTANER PROFESSOR VP, SCIENTIFIC O 305984 0 90500 0 56236 0 43708 0 29548 0 525976 0 0 0 GELVINA STEVENSON VP GEN COUNSEL, SECRETARY& 362381 0 25500 0 878 0 40900 0 2997 0 432656 0 0 0 HEATHER A STEINMAN VP FOR BUSINESS DEVELOP & 270978 0 76371 0 400 0 39873 0 427 0 388049 0 0 0 CONSTANTINE STOIOS CHIEF FINANCIAL OFFICER 259640 0 15500 0 20857 0 37118 0 29479 0 362594 0 0 0 MEENHARD HERLYN PROFESSOR 295259 0 500 0 2865 0 39838 0 22682 0 361144 0 0 0 PAUL LIEBERMAN PROFESSOR 262768 0 20500 0 1774 0 37795 0 22652 0 345489 0 0 0 MICHAEL CRISCUOLO VP, DEVELOPMENT 239377 0 15500 0 28982 0 34714 0 20729 0 339302 0 0 0 CHENGYU LIANG PROFESSOR 225420 0 35500 0 844 0 35665 0 31430 0 328859 0 0 0 MAUREEN MURPHY PROFESSOR 257919 0 500 0 1750 0 35155 0 22790 0 318114 0 0 0 JEFFREY FAHNOE CHIEF INFORMATION OFFICER 205151 0 20500 0 31307 0 31977 0 13006 0 301941 0 0 0 MICHELE SCHIAVONI VP COMMUNICATIONS & MARKETING 248592 0 15500 0 3033 0 31402 0 406 0 298933 0 0 0 JOANN MENDEL VICE PRESIDENT, HUMAN RESO 209171 0 25500 0 1613 0 28281 0 10574 0 275139 0 0 0 PETER SCARPATI VP OPERATIONS 182059 0 20500 0 32402 0 28668 0 3693 0 267322 0 0 0 PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS INCLUDE TUITION BENEFITS. DISCRETIONARY SPENDING ACCOUNT INCLUDES SOCIAL CLUB DUES FOR CEO ONLY. ALL AMOUNTS INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 1B TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ARE PROVIDED WITH A WRITTEN POLICY. SOCIAL CLUB DUES ARE PROVIDED VIA EMPLOYMENT CONTRACT WITH CEO. PART I, LINE 7 NON-FIXED PAYMENTS, IN THE FORM OF BONUSES, ARE APPROVED BY THE BOARD EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE. THE BONUSES ARE BASED ON PERFORMANCE INCLUDING LEADERSHIP. REVENUE IS NOT A BASIS FOR A BONUS. A PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232337287 2017-12-28 52857000 CAPITAL PROJECT FINANCING 0 0 0 B PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232337287 2017-12-28 4500000 CAPITAL PROJECT FINANCING LINE OF CREDIT 0 0 0 A 52857000 257000 52600000 2014 1 0 1 1 B 4500000 20000 4480000 2026 0 0 0 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 PNC BANK 10.000000000000 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 X 8 2537000 NYSE 0 1 0 SCHEDULE M, PART I, LINE 9 THE NUMBER REPORTED IN COLUMN (B) LINE 9 IS THE NUMBER OF CONTRIBUTIONS. FORM 990, HEADER, LINE A THE INSTITUTE FILED TIMELY FORM 8868, APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN. FORM 990, PART VI, SECTION A, LINE 2 SUSAN DILLON (TRUSTEE) HAS A BUSINESS RELATIONSHIP WITH ELIZABETH MCKEE ANDERSON (TRUSTEE). HELEN PUDLIN (TRUSTEE) HAS A BUSINESS RELATIONSHIP WITH ROBERT ROCK (TRUSTEE). FORM 990, PART VI, SECTION A, LINE 7A THE ACADEMY OF NATURAL SCIENCES AT DREXEL UNIVERSITY AND THE WISTAR FAMILY HAVE THE RIGHT TO DESIGNATE REPRESENTATION TO THE BOARD OF TRUSTEES. THE UNIVERSITY OF PENNSYLVANIA APPROVES APPOINTMENTS TO THE BOARD OF TRUSTEES UNDER THE INSTITUTE'S FOUNDING DEEDS OF TRUST. FORM 990, PART VI, SECTION A, LINE 7B THE ACADEMY OF NATURAL SCIENCES AT DREXEL UNIVERSITY AND THE WISTAR FAMILY HAVE THE RIGHT TO DESIGNATE REPRESENTATION TO THE BOARD OF TRUSTEES. THE UNIVERSITY OF PENNSYLVANIA APPROVES APPOINTMENTS TO THE BOARD OF TRUSTEES UNDER THE INSTITUTE'S FOUNDING DEEDS OF TRUST. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CONTROLLER, EXTERNAL TAX ACCOUNTANT, AND CFO. AFTER ALL ADJUSTMENTS ARE MADE, THE DRAFT IS REVIEWED WITH THE PRESIDENT. THE FINAL DRAFT OF THE FORM 990 IS THEN REVIEWED WITH THE AUDIT COMMITTEE. THE INSTITUTE THEN POSTS A COPY TO THE BOARD'S WEBSITE AND NOTIFIES MEMBERS OF ITS AVAILABILITY FOR THEIR INFORMATION PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C COVERED PERSONS ARE REQUESTED TO SUBMIT ANNUAL DISCLOSURES OF POTENTIAL CONFLICTS OF INTEREST FORMS WHICH ARE REVIEWED BY MANAGEMENT. COVERED PERSONS INCLUDE THE WISTAR INSTITUTE'S TRUSTEES, OFFICERS, "KEY EMPLOYEES", AND THE NEXT 5 HIGHLY COMPENSATED EMPLOYEES. AS DESCRIBED IN THE DISCLOSURE OF CONFLICT OF INTEREST POLICY, IF AN INDIVIDUAL HAS ANY POWER OR INFLUENCE TO APPROVE OR DISAPPROVE A CONTRACT OR TRANSACTION PROPOSED TO BE ENTERED INTO BETWEEN THE INSTITUTE AND ANY ENTITY OR PERSON HAVE A SIGNIFICANT RELATIONSHIP TO THAT INDIVIDUAL, THAT INDIVIDUAL HAS A POTENTIAL CONFLICT OF INTEREST AND MAY NOT PARTICIPATE IN THE PROCESS LEADING TO THE APPROVAL OR DISAPPROVAL OF THE CONTRACT OR TRANSACTION UNLESS UNDERLYING FACTS GIVING RISE TO THE POTENTIAL CONFLICT OF INTEREST ARE DISCLOSED AND APPROVAL FOR PARTICIPATION IS OBTAINED. IN THE CASE OF THE BOARD OF TRUSTEES, NO INDIVIDUAL WITH A POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION OR ANY OTHER CONFLICT OF INTEREST MAY VOTE TO APPROVE OR DISAPPROVE THE CONTRACT OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY TO OVERSEE THE COMPENSATION PAID TO THE ORGANIZATION'S EXECUTIVES TO THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE MADE UP EXCLUSIVELY OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES. THE COMMITTEE FOLLOWS THE PROCEDURES SET FORTH IN THE IRS REGULATIONS UNDER SECTION 4958 IN MAKING COMPENSATION DECISIONS. IN PARTICULAR, THE COMMITTEE ANNUALLY CONDUCTS A REVIEW OF EXECUTIVE COMPENSATION BASED ON INDEPENDENT COMPENSATION SURVEY INFORMATION. AT LEAST EVERY OTHER YEAR, THE COMMITTEE ENGAGES AN INDEPENDENT CONSULTANT TO COLLECT COMPARATIVE COMPENSATION DATA AND PROVIDE A WRITTEN OPINION ON THE REASONABLENESS OF THE PROPOSED COMPENSATION FOR EXECUTIVES. THE COMMITTEE DOCUMENTED ITS COMPENSATION DECISION IN CONTEMPORANEOUS WRITTEN MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE INSTITUTE'S WEBSITE (WWW.WISTAR.ORG). THE INSTITUTE'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON SPLIT-INTEREST AGREEMENTS 1,634,000. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 4,000. PENSION - NET GAIN 1,947,000. INTEREST RATE SWAP - NET GAIN 36,000. ISAAC J WISTAR FOUNDATION 3601 SPRUCE STREET PHILADELPHIA PA 19104 232593436 INACTIVE PA 501(C)(3) PF N/A 0 TALL CELL TECHNOLOGY LP C/O THE CONNELLY FDN ONE TOWER BRID WEST CONSHOHOCKEN PA 19428 232811246 LICENSING PA THE WISTAR INSTITUTE OF ANATOMY AND BIOLOGY EXCLUDED 148000 18000 0 1 0.90000 BENEFICIAL INTEREST IN PERPETUAL TRUSTS BNY MELLON WEALTH MANAGEMENT 1735 MARKET STREET PHILADELPHIA PA 19103 TRUSTS PA BNY MELLON BANK T 34000 235000 1.00000 0 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST PNC WEALTH MANAGEMENT 620 LIBERTY AVE PITTSBURGH PA 15222 TRUST PA PNC BANK T 1255000 18253000 1.00000 0 BENEFICIAL INTEREST IN PERPETUAL TRUSTS PNC INSTITUTIONAL INVESTMENTS 620 LIBERTY AVE PITTSBURGH PA 15222 TRUSTS PA PNC BANK T 345000 2251000 1.00000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TALL CELL TECHNOLOGY LP A 148000 COST