2019-03-05T14:59:06-07:00 2018-06-30 990 2017-07-01 251462312 MAGEE-WOMENS RESEARCH INSTITUTE AND FOUNDATION MAGE 4126418957 3339 Ward Street Pittsburgh PA 15213 Michael Annichine CEO 4126418949 2019-03-05 128.147.28.1 2017 2019-02-21 02:37:17Z Michael Annichine 3339 Ward Street Pittsburgh PA 15213 74066285 0 X www.mageewomens.org X 1984 PA Magee-Womens Research Institute (MWRI) is the largest research institute in the U.S. devoted exclusively to women's health research. Our mission is to change the world's thinking on women's health, and its investment in women's health research; to firmly establish MWRI as a global research leader; to expand our worldwide collaborative research network; and to accelerate the translation of that research into practice and improved clinical outcomes. We focus on seven areas of research, including reproductive endocrinology and fertility; reproductive development; pregnancy and newborn medicine; gynecology; infectious diseases; women's cancers and women's wellness. 21 19 0 343 0 0 52281257 58667199 348044 543079 2530221 1700004 733243 768903 55892765 61679185 28028462 29147728 0 0 14728965 16115959 0 0 1007309 14333063 15767171 57090490 61030858 -1197725 648327 93147030 97336356 46310891 46194921 46836139 51141435 X The Board approved mission of MWRIF is to advance scientific knowledge in the fields of reproductive biology and medicine; translate this knowledge into improved health for women and infants; train current and future scholars of reproductive sciences; and foster community investment and involvement in women's health. 0 0 54059481 29147728 1434618 See Schedule O 0 0 0 54059481 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 1 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 105 0 0 0 0 0 0 0 1 1 0 0 0 0 X 21 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA SC TN UT VA WA WI WV X Lisa Ascencio Director of Finance 4126418957 3339 Ward Street Pittsburgh PA 15213 Theresa Bone Director 1 0 X 0 0 0 Stephen Emery Director 1 0 X 0 0 0 Leslie Davis Director 1 0 X 0 0 0 Robert Edwards Director 2 0 X 0 0 0 Joan Ellenbogen Director 1 0 X 0 0 0 Laura Ellsworth Director 1 0 X 0 0 0 Margaret Joy Director 1 0 X 0 0 0 Karen Kelley Director 1 0 X 0 0 0 Joan Snyder Kuhl Director 1 0 X 0 0 0 Ed Lettieri Director 1 0 X 0 0 0 Arthur Levine Director 1 0 X 0 0 0 Linda S Melada Director 1 0 X 0 0 0 William Pietragallo Director 1 0 X 0 0 0 W Scott Sanford Director 1 0 X 0 0 0 Patricia Siger Director 1 0 X 0 0 0 David Spigelmyer Director 1 0 X 0 0 0 Peggy Snavely Director 1 0 X 0 0 0 Carrie Coghill Chair 4 0 X X 0 0 0 Kelly R Gray Vice Chair 2.5 0 X X 0 0 0 K Scott Roy Vice Chair 2.5 0 X X 0 0 0 Jason Harrison Treasurer 2.5 0 X X 0 0 0 Susan McGalla Secretary 2.5 0 X X 0 0 0 Michael Annichine CEO 40 0 X X 423188 0 34411 Yoel Sadovsky Executive Director/Professor 92 0 X X 594522 0 68972 Arthur Scully III Vice President 40 0 X X 216613 0 40636 Gerald Schatten Professor 40 0 X 312068 0 53435 Sharon Hillier Professor 40 0.00 X 309680 0 46079 Kyle Orwig Professor 40 0 X 252599 0 33072 Elizabeth Krans Professor 40 0 X 163465 0 42347 Yaacov Barak Professor 40 0 X 164113 0 36345 2436248 0 355297 47 0 1 1 Paraxel International One Kilmainham Square Inchicore Rad Dublin EI Research Services 231830 RJR Consulting Inc 154 East Main Street New Albany OH 43054 Consulting Services 186883 Anago of Western PA 300 Old Pond Road 202 Bridgeville PA 15017 Cleaning Services 127084 Blackbaud PO Box 930256 Atlanta GA 31193 Software Services 110759 4 X 67713 0 256581 0 44964489 13378416 2400762 58667199 Service Fee Revenue 541380 527805 527805 0 0 Student intern program stipend recovery 541712 15274 15274 0 0 0 0 0 0 543079 874611 0 0 874611 0 0 0 0 0 0 0 0 891539 0 0 0 891539 0 891539 891539 0 0 12909545 0 12084152 0 825393 0 825393 0 0 825393 180312 256581 302948 -122636 0 -122636 0 61679185 1434618 0 1577368 17761018 17761018 0 11386710 11386710 898079 64822 833257 0 11949694 9286251 2312597 350846 3268186 2560490 603708 103988 13407 13407 62417 62417 206359 206359 1376908 412210 744382 220316 32489 605 7288 24596 422144 283969 63543 74632 359338 19815 255492 84031 3002157 2615568 292110 94479 1237938 1047895 85276 104767 440869 419496 20395 978 1861039 1798644 61750 645 Lab equipment & maintenance 713731 713731 0 0 Medical research lab supplies 2572499 2572499 0 0 Various lab testing and processing fees 2347228 2347228 0 0 Fundraising expenses included in Part VIII -302948 0 0 -302948 1421596 768530 402087 250979 61030858 54059481 5964068 1007309 3662706 1245368 8475073 13298569 150740 404189 0 0 0 0 538704 560626 51317805 21982197 30934290 29335608 0 49385517 52491996 0 0 0 93147030 97336356 3079628 3696197 3777341 4959695 10843301 9775709 0 0 0 28536360 27672559 0 74261 90761 46310891 46194921 X 7377165 5839273 19704095 23584903 19754879 21717259 46836139 51141435 93147030 97336356 648327 3656969 0 0 0 0 X 0 1 1 1 1 X 45725654 58771737 48885965 52281257 58667199 264331812 0 0 0 0 0 0 0 0 0 0 0 0 45725654 58771737 48885965 52281257 58667199 264331812 9160325 255171487 1719011 1597092 1783852 1715397 1766150 8581502 0 0 0 0 0 0 0 0 0 0 0 0 272913314 2463187 0.93499 0.93129 X 21984294 568400 2357402 0 773069 0 24137027 20147000 62258 2494863 0 719827 0 21984294 22878830 873005 -58413 0 3546422 0 20147000 22336456 860738 316392 0 634756 0 22878830 20383708 11625 2506831 0 565708 0 22336456 0.094 0.9 0.006 1 0 0 0 0 0 44437642 16016070 28421572 0 948648 746000 202648 0 5931515 5220127 711388 0 0 0 0 29335608 0 0 Money Market 5619678 F Fixed Income Securities 14428687 F Domestic Equity 20028922 F International Equity 8043938 F Alternative Investments 3370238 F Beneficial Interest in Trust 1000533 F 52491996 Agency Funds held for Womens Auxiliary 90761 90761 65789169 3656969 356426 0 0 4013395 61775774 206359 -302948 -96589 61679185 61483873 356426 0 0 0 356426 61127447 206359 -302948 -96589 61030858 Schedule D, Part V, Line 4 Endowments are used to carry out the mission of the organization, i.e., to conduct medical research related to women's health and to support the operations of Magee-Womens Hospital of UPMC. Schedule D, Part XI, Line 4b Fund Raising Expenses netted with fund raising revenue in Part VIII, Line 8b Schedule D, Part XII, Line 4b Fund raising expenses of $302,948 reported as expense in audited financial statements but reported as a revenue offset in Part VIII Line 8(b) of 990. 1 Europe (including Iceland and Greenland) 0 0 Grantmaking Bio-medical Research 40886 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Bio-medical Research 234944 Sub-Saharan Africa 0 0 Grantmaking Bio-medical Research 11110880 0 0 11386710 Sub-Saharan Africa Biomedical Research 366159 Wire transfer 0 Sub-Saharan Africa Biomedical Research 1123750 Wire transfer 0 Sub-Saharan Africa Biomedical Research 12250 Wire transfer 0 Sub-Saharan Africa Biomedical Research 1619687 Wire transfer 0 Sub-Saharan Africa Biomedical Research 4097800 Wire transfer 0 Sub-Saharan Africa Biomedical Research 444844 Wire transfer 0 Europe (including Iceland and Greenland) Biomedical Research 24040 Wire transfer 0 North America (including Canada and Mexico, but not the United States) Biomedical Research 234944 Wire transfer 0 Europe (including Iceland and Greenland) Biomedical Research 16846 Wire transfer 0 Sub-Saharan Africa Biomedical Research 2499247 Wire transfer 0 Sub-Saharan Africa Biomedical Research 947143 Wire transfer 0 11 0 1 0 0 0 0 0 Schedule F, Part I, Line 2 All Grants and assistance to foreign organizations relate to collaborative bio-medical research with the Organization. Each arrangement is formalized with a contract which includes specific terms and conditions that must be met. Recipients are required to submit a detailed accounting of all expenditure incurred under the contract. This is reviewed for contract compliance and appropriateness and only then cash is remitted to them as reimbursement. Each recipient organization is also required to submit annual reports of all research activities funded by the grant, together with the results of the research. This information is reviewed by the U.S. scientist leading the research. Savor Pittsburgh 292073 178867 113206 0 0 41990 28422 0 66445 Fly Fishing 65000 35950 29050 0 0 19945 0 0 1530 4 71413 34440 36973 0 0 22432 10224 0 23211 428486 249257 179229 0 0 84367 38646 0 91186 214199 -34970 1 The Board of Regents of University of Nebraska 985045 Nebraska Medical Center Omaha NE 68198 470049123 501(c)(3) 12100 0 Bio-medical Research Carnegie Mellon University PO BOX 371032 Pittsburgh PA 15250 250969449 501(c)(3) 445569 0 Biomedical Research The Trustees of Columbia University in the City of New York 630 West 168th Street Box 49 New York NY 10032 135598093 501(c)(3) 7185 0 Biomedical Research Duke University 324 BLACKWELL STREET Washington Building Durham NC 27701 560532129 501(c)(3) 51586 0 Biomedical Research Einstein College of Medicine 1300 MORRIS PARK AVENUE Bronx NY 10461 472209056 501(c)(3) 28995 0 Biomedical Research Family Health International 359 Blackwell Street Durham NC 27701 237413005 501(c)(3) 1479904 0 Biomedical Research Fred Hutchinson Cancer Research Center 1100 FAIRVIEW AVE N Seattle WA 98109 237156071 501(c)(3) 274695 0 Biomedical Research Hektoen Institute of Medicine 1339 South Wood Street Suite G Chicago IL 60608 362244897 501(c)(3) 35331 0 Biomedical Research HJF Medical Research International Inc 6720A ROCKLEDGE DR STE 100 Bethesda MD 20817 522322791 501(c)(3) 252994 0 Biomedical Research Johns Hopkins University 733 North Broadway Baltimore MD 21218 520595110 501(c)(3) 637643 0 Biomedical Research MedStar Health Research Institute PO Box 418223 Business Unit 70201 Boston MA 02241 526056274 501(c)(3) 7008 0 Biomedical Research Massachusetts Institute of Technology 77 Massachusetts Avenue Cambridge MA 02319 042103594 501(c)(3) 37647 0 Biomedical Research H Lee Moffitt Cancer Center and Research Institute Inc 12902 Magnolia Drive Tampa FL 33612 592451713 501(c)(3) 19533 0 Biomedical Research New York University 70 Washington Square South New York NY 10012 135562308 501(c)(3) 140711 0 Biomedical Research National Minority AIDS Council 1000 Vermont Ave NW Suite 200 Washington DC 20005 521578289 501(c)(3) 20148 0 Biomedical Research Population Council ONE DAG HAMMARSKJOLD PLAZA New York NY 10017 131687001 501(c)(3) 298049 0 Biomedical Research Public Health Foundation Enterprises 12801 CROSSROADS PKWY S City of Industry CA 91746 952557063 501(c)(3) 133053 0 Biomedical Research Regents of the University of Michigan 500 S State St Ann Arbor MI 48109 386006309 501(c)(3) 93852 0 Biomedical Research Research Foundation for Mental Hygiene 150 Broadway 301 Menands NY 12204 141410842 501(c)(3) 304644 0 Biomedical Research Research Triangle Institute 5265 Capital Boulevard Raleigh NC 27616 560686338 501(c)(3) 1136176 0 Biomedical Research San Francisco Department of Public Health 1380 HOWARD ST San Francisco CA 94103 946000417 115 42550 0 Biomedical Research Research Foundation for the State University of New York Po Box 9 Albany NY 12201 141368361 501(c)(3) 143640 0 Biomedical Research Tulane University 800 EAST COMMERCE ROAD Harahan LA 70123 720423889 501(c)(3) 17188 0 Biomedical Research University of Texas ONE UTSA CIRCLE San Antonio TX 78249 746000089 501(c)(3) 31759 0 Biomedical Research The Regents of the University of California Los Angeles 11000 Kinross Avenue Suite 211 Los Angeles CA 90095 956006143 501(c)(3) 67444 0 Biomedical Research Regent of the University of California Davis One Shields Avenue Davis CA 95616 946036494 501(c)(3) 18669 0 Biomedical Research University of Pittsburgh 4200 Fifth Avenue Pittsburgh PA 15260 250965591 501(c)(3) 9164532 0 Biomedical Research University of Alabama at Birmingham 1720 SECOND AVE SOUTH Birmingham AL 35294 636005396 501(c)(3) 363573 0 Biomedical Research University of California Irvine 501 Aldrich Hall Irvine CA 92697 952226406 501(c)(3) 108597 0 Biomedical Research Regents of the University of Colorado 1775 AURORA COURT Denver CO 80045 846000555 115 253010 0 Biomedical Research University of Miami PO BOX 348106 Coral Gables FL 33124 590624458 501(c)(3) 7213 0 Biomedical Research University of North Carolina at Chapel Hill 104 AIRPORT DRIVE Chapel Hill NC 27599 566001393 501(c)(3) 439009 0 Biomedical Research University of Pennsylvania PO Box 785541 Philadelphia PA 19178 231352685 501(c)(3) 260904 0 Biomedical Research University of Washington Gerberding Hall G80 Seattle WA 98195 916001537 115 624714 0 Biomedical Research Van Andel Research Institute 333 Bostwick Ave NE Grand Rapids MI 49503 522000823 501(c)(3) 25800 0 Biomedical Research University of California San Diego 9500 Gilman Avenue La Jolla CA 92093 956006144 501(c)(3) 160639 0 Bio-medical Research Magee-Womens Hospital of UPMC 300 Halket Street Pittsburgh PA 15213 250965420 501(c)(3) 608978 0 Contribution for Patient Care and other Hospital Activities 34 3 Schedule I, Part I, Line 2 Each recipient of grant funding enters into a contract with MWRIF. The contract details allowable use of funds and includes budget of expenditures. Funds are released to recipients on a cost reimbursement basis. The recipient submits a report summarizing the expenses incurred which is compared by MWRIF personnel against budgets and terms of the contract before funds are released. X 1 1 X 0 0 0 0 0 0 0 1 0 Yoel Sadovsky Executive Director/Professor 449572 0 140822 0 4127 0 50110 0 18862 0 663493 0 0 0 Michael Annichine CEO 336023 0 86000 0 1165 0 16200 0 18211 0 457599 0 0 0 Arthur Scully III Vice President 198765 0 0 0 17848 0 24331 0 16305 0 257249 0 0 0 Gerald Schatten Professor 311768 0 0 0 300 0 32400 0 21035 0 365503 0 0 0 Sharon Hillier Professor 259380 0 50000 0 300 0 31495 0 14584 0 355759 0 0 0 Kyle Orwig Professor 210080 0 42119 0 400 0 25484 0 7588 0 285671 0 0 0 Elizabeth Krans Professor 160094 0 3115 0 257 0 20520 0 21827 0 205813 0 0 0 Yaacov Barak Professor 157411 0 6302 0 400 0 19527 0 16818 0 200458 0 0 0 Schedule J, Part I, Line 1a Membership dues for the Duquesne Club, a private club located in Pittsburgh's downtown business district, were paid by MWRIF for Arthur Scully, VP of Development. The Club's facility was used to host Board and Donor meetings and related events. The dues were paid through September 2017, at which time Mr. Scully resigned from the organization and the facility was no longer used for MWRIF business. Schedule J, Part I, Line 3 The Executive Director is dually employed by both the University of Pittsburgh and the University of Pittsburgh Medical Center (UPMC). 100% of his time is spent on either his biomedical research or his Executive Director responsibilities, so MWRIF is financially responsible for his total compensation. Each of the three organizations are involved in evaluating the ED's compensation taking into account accomplishments, responsibilities, and comparison to AAMC (American Association of Medical Colleges) benchmarks. The initial salary as well as subsequent adjustments must be approved by senior management of the University and UPMC, and is also approved by select independent directors of MWRIF board. A written employment contract is used by both employers to document all employment terms including compensation. All paperwork regarding the process and approvals is maintained by the respective organizations. The CEO's initial salary as well as any subsequent adjustments are reviewed by both UPMC and select independent directors of the MWRIF Board, taking into consideration accomplishments, responsibilities and a review of salaries for comparable positions in the marketplace. All related paperwork is maintained by UPMC. Since 100% of the CEO's time is spent in supporting the mission of MWRIF, MWRIF is financially responsible for the entire salary and any subsequent adjustments and incentives. Schedule J, Part I, Line 7 In addition to a base compensation from each employer, Dr. Sadovsky is eligible for incentive compensation as follows: From UPMC, he is eligible for performance based incentive compensation as part of his employment contract. Performance is evaluated against a list of predetermined goals and payment is made in the subsequent fiscal year. From the University of Pittsburgh, he is eligible for a research incentive based on certain criteria established by the University for all researchers. This is tied to his own research lab and is not related to his function as Executive Director of MWRIF. Gerald Schatten, Sharon Hillier, Kyle Orwig, Elizabeth Krans, and Yaacov Barak are also eligible for the University of Pittsburgh research incentive mentioned above, if they meet the criteria established by the University. The CEO, as an executive level employee of UPMC, is eligible for an annual incentive award based on performance against predetermined standards which include their contribution to achievement of corporate goals, as well as achievement of individual performance goals. MWRIF is financially responsible for the entire cost of the incentive. Schedule J, Part II Elizabeth Krans is dually employed by the University of Pittsburgh and the University of Pittsburgh Medical Center (UPMC). She divides her time between Clinical work and Research. The reportable wages shown on Schedule J Part II and Part VII Line 1a represent the portion of her combined salary attributable to her research work which is the responsibility of MWRIF. UPMC is responsible for the portion of her combined salary attributable to her clinical work. X 20567 Retail Value X 18 2346545 FMV X Food Served at Events 8 18975 FMV X Other items used at Events 2 8820 FMV 0 0 1 1 Schedule M, Part I, Line 32b Registered Stock Brokers are used to sell stock donations. Stocks are sold immediately upon receipt. Form 990, Part I, Line 1 Activity Or Mission Description _ Description _ Unprecedented research and advancing clinical knowledge in many areas affecting women, including: reproductive biology, breast cancer, ovarian cancer, genomics and personalized therapies, HIV immunization and prevention, fertility preservation, and pelvic floor research. Magee-Womens Research Institute is dedicated to the transformation of health research for the good of all humankind. Form 990, Part I, Line 5 MWRIF doesn't have any employees of its own. All individuals who work in support of the mission of MWRIF are employed either by the University of Pittsburgh or the University of Pittsburgh Medical Center (UPMC). MWRIF is billed by each organization for the cost of salary and fringe benefits corresponding to the effort these individuals expend in support of the MWRIF mission. MWRIF records such costs as compensation on its financial statements. Payroll taxes are filed by the employer organizations. Form 990, Part III, Line 4a Magee-Womens Research Institute (MWRI) is the largest research institute in the U.S. devoted exclusively to women's health research. MWRI is making discoveries and advancing knowledge in many areas affecting women including: reproductive biology, breast cancer genomics and personalized therapies, HIV immunization and prevention, fertility preservation, and is a recognized leader in clinical pelvic floor research. Through our revolutionary 9-90TM research, we focus on how pregnancy and fetal development can affect population health for future generations. We firmly believe that new insights into the role of early human development in defining short- and long-term health and wellness will transform our understanding of disease development, treatment and prevention for future generations. Researchers concentrate on seven key areas of discovery: reproductive endocrinology and fertility (including ovarian biology, hypothalamic-pituitary-gonadal axis, female and male germ cell development, infertility and restoration of fertility); reproductive development (including reproductive development, stem cell biology, germ cell development and differentiation, abiogenesis); pregnancy and newborn medicine (including prenatal genetics, feto-placental development, preterm birth, preeclampsia, newborn medicine); gynecology (including family planning, benign gynecological disorders, urogynecology and pelvic floor dysfunction); infectious diseases (including HIV and vaginal microbicides, reproductive tract infections, pharmaceutics and drug delivery); women's cancers (reproductive tract and breast cancers); and women's wellness (including health services outcomes, patient-provider communication, behavioral health and alternative medicine). As one of the largest academic institutions in the field of women's health, MWRI strives to advance scientific discovery and translate the results of scientific research into knowledge pertinent to women's health. To ensure the future of women's health research, MWRI has established educational programs at all levels of academic development, including opportunities for faculty and postdoctoral scholars as well as graduate and medical students, college students and high school students. MWRI hosts the Magee-Womens Research Summit, an international conference of physicians, researchers and corporate leaders focused on women's health. The centerpiece of the summit is the award of a $1 million prize for collaborative and transformative research within the reproductive sciences. Dedicated to solving real-world problems and improving lives today and for future generations as well as to coaching the next generation of scientists, MWRI is committed to a better, healthier world in which women's health has the scientific prominence and cultural status it deserves. Form 990, Part VI, Section A, Line 2 Directors Arthur Levine and Linda Melada have a family relationship. Form 990, Part VI, Section B, Line 11b The initial draft of Form 990, which is prepared by the Accounting Manager, is reviewed by the Director of Finance. It is then reviewed by representative of MWRIF's external auditors Maher Duessel. After that, the Audit Committee, a sub-committee of the Board of Directors, reviews and provides a report to the Board. A copy of the Form 990 is provided to the full Board of Directors prior to filing with the IRS Form 990, Part VI, Section B, Line 12c The organization has a conflict of interest policy that is driven by the classification of each individual as follows: Board members are required to sign a formal conflict of interest questionnaire annually prior to the beginning of each fiscal year for which they are a member. The forms are reviewed internally by the CEO and actual or potential conflicts are reported to the Board Chair. * Designated individuals (managers and above, and any employee holding a position of influence or trust) supporting MWRIF who are employed by UPMC are required to follow their employer mandated conflict of interest policy which includes annual electronic disclosures, as well as additional disclosures as related circumstances change. These are reviewed and monitored by the UPMC Ethics and Compliance Committee. If potential and actual conflicts are identified, a Conflict Management Plan must be developed and submitted to the Committee. Failure to disclose potential conflicts or to follow the approved conflict management plan will result in disciplinary action. * Designated individuals (all faculty, staff with administrator IV title or above and any others designated based on their responsibilities) working at MWRIF who are employees of the University of Pittsburgh are required to follow their employer mandated conflict of interest policy which includes annual electronic conflict of interest disclosures, as well as additional disclosures as related circumstances change. These are reviewed by the individual's department head and reported to University senior management as well as maintained by the Conflict of Interest Committee. Potential or actual conflicts are handled by the employees first line supervisor and a management plan developed. The plan is submitted to senior management as well as the COI committee for review. Sanctions may be applied for non-compliance with the requirements of the policy or with management plans, including a letter of reprimand, special monitoring of future work, removal from the particular project, probation, suspension, salary reduction, or initiation of steps leading to possible reduction in rank or termination of employment. Form 990, Part VI, Section B, Line 15 The Executive Director is dually employed by both University of Pittsburgh and the University of Pittsburgh Medical Center (UPMC). 100% of his time is spent on either his medical research (about 46 hours/week average) or on his Executive Director responsibilities (an additional 46 hours/week average), for an average total of 92 hours per week. MWRIF is financially responsible for his total compensation and it reimburses the University of Pittsburgh and UPMC for his compensation. Each of the three organizations are involved in evaluating the ED's compensation taking into consideration his accomplishments, responsibilities, and comparing against AAMC (American Association of Medical Colleges) benchmarks. The initial salary as well as any subsequent adjustments are approved by senior management of the University and UPMC and by selected external members of the MWRIF Board. All paperwork regarding the process and approvals is maintained by the respective organizations. The CEO's initial salary as well as any subsequent adjustments are reviewed by both UPMC and select independent directors of the MWRIF Board, taking into consideration accomplishments, responsibilities and a review of salaries for comparable positions in the marketplace. All related paperwork is maintained by UPMC. Since 100% of the CEO's time is spent in supporting the mission of MWRIF, MWRIF is financially responsible for the entire salary and any subsequent adjustments and incentives. Form 990, Part VI, Section C, Line 17 States Where Copy Of Return is filed: AK, AL, AR, CA, CO, CT, DC, FL, GA, HI, IL, KS, KY, LA,MA, MD, ME, MI, MN, MO, MS, NC, ND, NH, NJ, NM, NY, OH, OK, OR, PA, SC, TN, UT, VA, WA, WI, WV Form 990, Part VI, Section C, Line 19 The Conflict of Interest Policy, governing documents, and financial statements are available at the Organization's business office located at 3339 Ward street, Pittsburgh, PA 15213. Form 990, Part VIII, Line 6a The research conducted at MWRIF occurs in a facility located at 204 Craft Avenue. UPMC owns this building and MWRIF is renting the space from them. Since the lease agreement with UPMC is long term (30 years), for accounting purposes it has to be recorded as a liability on MWRIF's books. This is the mortgage/note payable disclosed on Line 24 of Part X. The lease agreement does not contain any terms implying that MWRIF will ever own or have the option to buy the building. The rental income disclosed in Part VIII is generated by subleases between MWRIF and several research labs that are part of the University of Pittsburgh, allowing them to occupy a portion of the space MWRIF is renting from UPMC. These particular University of Pittsburgh researchers collaborate with MWRIF researchers on a regular basis on large biomedical research projects where physical proximity facilitates the collaborative process and allows them to meet, share equipment and other resources as needed to make the collaboration more efficient and hopefully more successful. The objective in renting the space to the University of Pittsburgh is to facilitate the collaboration, not to generate profit. So the rental income disclosed in Part VIII is sublease income that offsets a portion of MWRIF's lease expense. MWRIF has no acquisition indebtedness which would require the rental income to be disclosed as unrelated business income.