2021-04-16T11:22:24-05:00 2020-09-25 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2019-09-28 850110669 LOVELACE BIOMEDICAL RESEARCH INSTITUTE LOVE 5053489361 2425 RIDGECREST DRIVE SE ALBUQUERQUE NM 87108 SHANNON TOMA CHIEF OPERATING OFFICER 5053489361 2021-04-13 1 PAMELA ALEXANDERSON P01218925 5058787200 2021-04-13 2019 2022-09-23 18:48:47Z ROBERT W RUBIN 2425 RIDGECREST DRIVE SE ALBUQUERQUE NM 87108 87204132 0 X WWW.LOVELACEBIOMEDICAL.ORG X 1965 NM THE LOVELACE BIOMEDICAL RESEARCH INSTITUTE (LBRI) IS A PRIVATE, BIOMEDICAL RESEARCH ORGANIZATION DEDICATED TO IMPROVING PUBLIC HEALTH THROUGH RESEARCH ON THE PREVENTION, TREATMENT AND CURE OF DISEASES. LBRI IS COMMITTED TO CURING DISEASES THROUGH RESEARCH AIMED AT UNDERSTANDING THEIR CAUSES AND BIOLOGICAL MECHANISMS; ASSESSING AND ELIMINATING EXPOSURES TO RESPIRATORY, NEUROLOGICAL AND OTHER HEALTH HAZARDS; AND DEVELOPING IMPROVED THERAPEUTICS, VACCINES, AND DIAGNOSTICS. LBRI IS BASED IN ALBUQUERQUE, NEW MEXICO. 14 13 33 13 31612 30612 31 14011130 16329449 58650412 2467916 3640374 130459 86499 18927855 76388415 0 0 0 0 8300932 31278062 0 0 0 12397423 42910929 20698355 74188991 -1770500 2199424 62787840 159558180 35109083 48830694 27678757 110727486 X THE LOVELACE BIOMEDICAL RESEARCH INSTITUTE (LBRI) IS A PRIVATE, BIOMEDICAL RESEARCH ORGANIZATION DEDICATED TO IMPROVING PUBLIC HEALTH THROUGH RESEARCH ON THE PREVENTION, DIGNOSIS, TREATMENT AND CURE OF DISEASES. LBRI IS DEDICATED TO THE DISCOVERY AND ADVANCEMENT OF CLINICAL SOLUTIONS FOR PREVENTION, DIAGNOSIS, TREATMENT AND CURING DISEASES THROUGH RESEARCH. THE RESEARCH IS AIMED AT UNDERSTANDING THEIR CAUSES AND BIOLOGICAL MECHANISMS; ASSESSING AND ELIMINATING EXPOSURES TO RESPIRATORY, NEUROLOGICAL AND OTHER HEALTH HAZARDS; MENTAL ILLNESS; TRAUMATIC BRAIN INJURY AND OTHER BRAIN DISORDERS; AND DEVELOPING IMPROVED THERAPEUTICS, VACCINES, AND DIAGNOSTICS. LBRI IS BASED IN ALBUQUERQUE, NEW MEXICO. 1 0 50648544 58650412 MEDICAL RESEARCH AND EDUCATIONAL ACTIVITY IN THE AREAS OF BASIC BIOMEDICAL RESEARCH, HEALTH AND POPULATION STUDIES, INCLUDING RESPIRATORY DISEASES SUCH AS ASTHMA, COPD, ALLERGY AND TOXIC EFFECTS OF ENVIRONMENTAL FACTORS. ADDITIONAL AREAS INCLUDE NEUROLOGIC CONDITIONS SUCH AS TRAUMATIC BRAIN INJURY, ADDICTION AND PSYCHOPATHY. 50648544 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 33 0 1 33 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NM X X SHANNON TOMA 5053489361 2425 RIDGECREST DRIVE SE ALBUQUERQUE NM 87108 ROBERT RUBIN PHD CEO, PRESIDENT, DIRECTOR 38.00 X X 0 828760 117312 JACKIE LOVELACE JOHNSON CHAIRPERSON OF THE BOARD 2.00 X X 0 0 0 JANE DELGADO DIR VICE CHAIR CHAIR OF NOMINATING COMMITTEE 2.00 X X 0 0 0 CHRIS SPENCER CPA DIR CHAIR BUDGET & FINANCE COMMITTEE 2.00 X X 0 0 0 PAMELA SULLIVAN DIR CHAIR AUDIT & COMPENSATION COMMI 2.00 X X 0 0 0 GREGORY DOWNEY MD DIRECTOR 2.00 X 0 0 0 J GRANT BURCHAM DIRECTOR 2.00 X 0 0 0 MAJOR GENERAL JOHN DOESBURG DIRECTOR 2.00 X 0 0 0 MELVIN TWIEST MD DIRECTOR 2.00 X 0 0 0 AUGUSTINE CHOI MD DIRECTOR (THROUGH DECEMBER 2019) 2.00 X 0 0 0 SARA EASTERSON-BOND DIRECTOR 2.00 X 0 0 0 TESS BURLESON DIRECTOR 2.00 X 0 0 0 RICHARD GILL PHD DIRECTOR 2.00 X 0 0 0 SANDRA CHAVEZ DIRECTOR 2.00 X 0 0 0 TERRY DUNLAY DIRECTOR 2.00 X 0 0 0 SHANNON TOMA TREASURER, EXEC VP, COO, C 38.00 X 621304 0 28786 FRANCES LAUR ASSISTANT SECRETARY 6.00 X 98460 0 11416 DAVID FLANDERS HUMAN RESOURCES VP 40.00 X 209023 0 26618 CHESTER LEACH SCIENTIST EMERITUS 4.00 X 209608 0 912 NANDAKUMAR RANGANATHAN DIRECTOR OF IT 40.00 X 148744 0 15493 MARGARET MCMULLEN BUS DEV OPS MANAGER 40.00 X 133376 0 14276 BUFFIE KERSTETTER BUSINESS DEVELOP MANAGER 40.00 X 129116 0 11385 1549631 828760 226198 6 0 1 0 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE SUITE 600 ALBUQUERQUE NM 87110 CONSULTANT 901061 CAPSTONE CORPORATE FINANCE LLC 176 FEDERAL 3RD FLOOR BOSTON MA 02110 PROFESSIONAL SERVICES 271512 KPMG LLP PO BOX 120751 DEPT 0691 DALLAS TX 75312 AUDIT 126537 3 13996067 15063 14011130 BIOMEDICAL RESEARCH 541700 50196108 50196108 INTERCOMPANY REIMBURSE 900099 8454304 8454304 58650412 1629091 1629091 31612 31612 12827000 10815717 2011283 2011283 2011283 BAD DEBT RECOVERY 900099 27743 27743 27144 27144 54887 76388415 58650412 31612 3695261 1669682 1669682 19068445 17533188 1535257 1649980 113893 1536087 7299357 1244299 6055058 1590598 270959 1319639 110560 110560 1610737 1610737 5080 5080 45474 45474 7291760 5922377 1369383 95160 60675 34485 155551 92699 62852 2840840 1677900 1162940 5249554 2683617 2565937 244707 129643 115064 99931 72346 27585 952291 952291 4761077 1986118 2774959 730081 578758 151323 RESEARCH SUPPLIES 16088659 16088659 2629467 2193413 436054 74188991 50648544 23540447 0 3173234 9080497 5202395 24186263 502936 614208 711636 812306 139031550 59201873 4054200 79829677 44127870 44288108 3472556 -911216 1543013 1658337 62787840 159558180 1796156 10911237 3941554 14549917 27888323 21711203 1483050 1658337 35109083 48830694 X 27678757 110727486 27678757 110727486 62787840 159558180 X 2199424 263636 80585669 X 0 1 X 1 1 1 X 52 65 52159 31 14011130 14063437 52 65 52159 31 14011130 14063437 14063437 2099472 1248480 1500113 1912832 1629091 8389988 31612 31612 -339932 -188296 -147651 120643 54887 -500349 21984688 109659024 0.63970 0.60830 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2015 AMOUNT: $ 577. 2017 AMOUNT: $ 4,698. 2018 AMOUNT: $ 120,643. 2019 AMOUNT: $ 27,144. HIGH WAGE TAX CREDIT - OTHER INCOME REBATES - TECHNOLOGY TAX CREDIT - CORPORATE ALLOCATION - BAD DEBT RECOVERY - 2015 AMOUNT: $ 33,646. 2019 AMOUNT: $ 27,743. LOSS ON JOINT VENTURES - 2015 AMOUNT: $ -374,155. 2016 AMOUNT: $ -188,296. 2017 AMOUNT: $ -152,349. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 5080 5080 5080 5080 74183912 84963231 74188992 84968311 1000000 1000000 250000 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 191280 194240 1069 5080 391669 250000 250000 250000 250000 1000000 1500000 104544 1110455 1214999 102409576 30006031 72403545 32016843 26004243 6012600 3390132 3191599 198533 79829677 DEFERRED COMP 457(B) AND 457(F) 1658337 1658337 X PART X, LINE 2: LBRI IS AN ENTITY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED, AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3). FURTHER, LBRI, HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER IRC SECTION 509(A) AS DESCRIBED IN IRC SECTION 170(B)(1)(A)(VI), AND AS SUCH, CONTRIBUTIONS TO LBRI QUALIFY AS CHARITABLE CONTRIBUTIONS. HOWEVER, INCOME GENERATED FROM CERTAIN ACTIVITIES UNRELATED TO LBRI'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAX AS UNRELATED BUSINESS INCOME UNDER IRC SECTION 511. AS OF SEPTEMBER 25, 2020 AND SEPTEMBER 27, 2019, THE COMPANY PERFORMED A REVIEW OF ITS MATERIAL TAX POSITIONS IN ACCORDANCE WITH RECOGNITION AND MEASUREMENT STANDARDS ESTABLISHED BY US GAAP. AS A RESULT OF THIS REVIEW, THE COMPANY CONCLUDED THAT LBRI HAD NO UNREPORTED INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES AND NO ENTITY LEVEL TAX POSITIONS THAT WOULD NOT MEET THE MORE LIKELY THAN NOT THRESHOLD. THE COMPANY FILES TAX RETURNS AS PRESCRIBED BY THE TAX LAWS OF THE JURISDICTIONS IN WHICH IT OPERATES. IN THE NORMAL COURSE OF BUSINESS, THE COMPANY IS SUBJECT TO EXAMINATION BY FEDERAL, STATE, LOCAL AND FOREIGN JURISDICTIONS, WHERE APPLICABLE. AS OF SEPTEMBER 25, 2020 AND SEPTEMBER 27, 2019, THE TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE MAJOR TAX JURISDICTIONS UNDER THE STATUTE OF LIMITATIONS ARE FROM THE YEAR ENDED SEPTEMBER 30, 2017, AND FORWARD. THE COMPANY RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THERE WERE NO SUCH INTEREST OR PENALTIES RECORDED FOR THE YEARS ENDED SEPTEMBER 25, 2020 OR SEPTEMBER 27, 2019. X 0 0 X X X 0 1 0 0 0 0 0 1 0 ROBERT RUBIN PHD CEO, PRESIDENT, DIRECTOR 0 731924 0 60000 0 36836 0 105844 0 11468 0 946072 0 0 SHANNON TOMA TREASURER, EXEC VP, COO, C 588304 0 33000 0 0 0 27381 0 1405 0 650090 0 0 0 DAVID FLANDERS HUMAN RESOURCES VP 184023 0 25000 0 0 0 20333 0 6285 0 235641 0 0 0 CHESTER LEACH SCIENTIST EMERITUS 43611 0 165997 0 0 0 0 0 912 0 210520 0 0 0 NANDAKUMAR RANGANATHAN DIRECTOR OF IT 148744 0 0 0 0 0 14149 0 1344 0 164237 0 0 0 PART I, LINE 4B ROBERT RUBIN 457(F) PLAN - 2019 CONTRIBUTION IS $59,963. SINCE DR. RUBIN IS VESTED IN THE 457(F) PLAN, THE ENTIRE AMOUNT OF HIS 2019 457(F) PLAN CONTRIBUTION IS INCLUDED IN TAXABLE INCOME. PART I, LINE 7 BONUSES ARE AWARDED ANNUALLY. MANAGEMENT IS PROVIDED AN AMOUNT, APPROVED BY THE BOARD, TO PAY IN ANNUAL BONUS. BONUS PAYMENTS ARE REVIEWED AND APPROVED BY THE EMPLOYEE'S DIRECT SUPERVISOR, HEAD OF HUMAN RESOURCES, AND CEO. CEO BONUS IS ESTABLISHED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS AND FURTHER APPROVED BY THE FULL BOARD OF DIRECTORS. FORM 990, PART III, LINE 2 THE ORGANIZATION MERGED WITH TWO OTHER TAX EXEMPT ENTITIES (LOVELACE BIOMEDICAL ENVIRONMENT RESEARCH INSTITUTE & MIND RESEARCH NETWORK). LBRI ABSORBED THE PROGRAM SERVICES OF THESE TWO ENTITIES DURING THE FISCAL YEAR INCLUDING THE STUDY OF BRAIN INJURY, ADDITIONAL AND PSYCOPATHY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED IN DRAFT FORM TO THE AUDIT AND COMPENSATION COMMITTEE AND TO THE FULL BOARD FOR REVIEW PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CODE OF CONDUCT THAT ADDRESSES CONFLICTS OF INTEREST. IT IS PRESENTED TO THE BOARD ANNUALLY. ADDITIONALLY, ALL EMPLOYEES, INCLUDING OFFICERS, ARE REQUIRED TO READ AND ACKNOWLEDGE THE CODE ANNUALLY. IN ADDITION, IF A CONFLICT ARISES, THE CONFLICTED INDIVIDUAL RECUSES HIMSELF FROM VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S AUDIT AND COMPENSATION COMMITTEES RECEIVE COMPENSATORY RECOMMENDATION FROM HUMAN RESOURCES AND FROM MANAGEMENT AS TO: 1. PERCENT BASE SALARY INCREASE FOR THE ORGANIZATION AS A WHOLE WITH TARGETS AND THE DOLLAR AMOUNT OF IMPACT ARE PRESENTED TO AND APPROVED BY THE AUDIT AND COMPENSATION COMMITTEE. 2. TARGET AMOUNT OF BONUS COMPENSATION FOR THE ENTIRE ORGANIZATION AND THE DOLLAR IMPACT ARE PRESENTED AND APPROVED BY THE AUDIT AND COMPENSATION COMMITTEE. 3. CEO COMPENSATION (BASE, BONUS AND DEFERRED COMPENSATION) IS REVIEWED TO MARKET VALUE FOR SIMILAR POSITIONS IN THE INDUSTRY AND APPROVED BY THE AUDIT AND COMPENSATION COMMITTEE. THIS PROCESS IS DOCUMENTED AND WAS LAST COMPLETED IN OCTOBER 2020. FORM 990, PART VI, SECTION C, LINE 19 PROVIDED UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS FROM MRN AND LBRI 80,585,669. 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