2025-11-12T13:47:32-06:00 2024-12-31 861065772 DELOITTE TAX LLP 50 SOUTH SIXTH STREET MINNEAPOLIS MN 55402 990 2024-01-01 821808476 GATES MEDICAL RESEARCH INSTITUTE GATE 8577022108 ONE KENDALL SQ BLDG 600 6-301 CAMBRIDGE MA 02139 HARISH KAUSHAL TREASURER 8577022108 2025-11-12 1 0 ANNE FULTON P00941863 6123974000 2024 2025-03-06 01:10:19Z X HARISH KAUSHAL ONE KENDALL SQ BLDG 600 6-301 CAMBRIDGE MA 02139 132834027 0 X WWW.GATESMRI.ORG X 2017 WA THE GATES MRI ENGAGES DIRECTLY IN THE CONDUCT OF MEDICAL RESEARCH IN CONJUNCTION WITH ONE OR MORE HOSPITALS FOR THE PURPOSE OF ADDRESSING MAJOR CAUSES OF ILLNESS AND DEATH IN LOW-AND LOWER-MIDDLE-INCOME COUNTRIES. 5 0 175 0 0 0 809272816 131916618 0 0 183048 857443 3783 59966 809459647 132834027 0 0 0 0 58425016 66369145 0 0 0 131188138 274762653 189613154 341131798 619846493 -208297771 816974806 613229640 61971358 66523963 755003448 546705677 X THE GATES MRI ENGAGES DIRECTLY IN THE CONDUCT OF MEDICAL RESEARCH IN CONJUNCTION WITH ONE OR MORE HOSPITALS FOR THE PURPOSE OF ADDRESSING MAJOR CAUSES OF ILLNESS AND DEATH IN LOW-AND LOWER-MIDDLE-INCOME COUNTRIES. 0 0 118926239 GATES MEDICAL RESEARCH INSTITUTE ("GATES MRI") IS ALIGNED WITH THE PURPOSE OF THE GATES FOUNDATION AND GUIDED BY THE VISION THAT EVERY PERSON DESERVES THE OPPORTUNITY TO LEAD A HEALTHY AND PRODUCTIVE LIFE. THE GATES MRI IS DEDICATED TO THE RESEARCH, DEVELOPMENT, AND EFFECTIVE USE OF NOVEL BIOMEDICAL INTERVENTIONS ADDRESSING SUBSTANTIAL GLOBAL HEALTH CONCERNS FOR WHICH THE REQUIRED DEVELOPMENT INVESTMENT BY TRADITIONAL BIOPHARMACEUTICAL ORGANIZATIONS IS LACKING. THE GATES MRI WORKS WITH COLLABORATING PARTNERS AND ORGANIZATIONS, COORDINATING AND DRIVING BIOPHARMACEUTICAL RESEARCH AND DEVELOPMENT ACTIVITIES, INCLUDING PRE-CLINICAL DEVELOPMENT AND CLINICAL DEVELOPMENT. IN ADDITION TO THE TUBERCULOSIS WORK NOTED IN 4(B) THE MRI FOCUSES ON PROGRAMS AIMED AT REDUCING THE BURDEN OF MALARIA, DIARRHEAL DISEASES, AND MATERNAL, NEWBORN, AND CHILD ILLNESSES WORLDWIDE. 204397757 THE GATES MRI'S LARGEST PROGRAM AREA FOCUSES ON REDUCING THE BURDEN OF TUBERCULOSIS THROUGH THE RESEARCH AND DEVELOPMENT OF NOVEL THERAPEUTICS AND VACCINE CANDIDATES, INCLUDING THROUGH THE CONDUCT OF CLINICAL TRIALS. 323323996 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 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 47 0 1 175 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 0 1 0 1 0 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 CA MA WA X X JENNIFER DEGER 2067093100 500 FIFTH AVENUE N SEATTLE WA 98109 TREVOR MUNDEL DIRECTOR, BOARD CHAIR 3.00 40.00 X 0 1396369 70079 CAROLYN AINSLIE DIRECTOR 2.00 40.00 X 0 1025020 84312 TONI HOOVER DIRECTOR 2.00 40.00 X 0 642426 82364 GAGANDEEP KANG DIRECTOR 2.00 40.00 X 0 501273 68783 HELENE MADONICK DIRECTOR (END 12/24) 2.00 0.00 X 0 16636 0 HARISH KAUSHAL TREASURER 40.00 0.00 X 712706 0 94217 PATRICE MATCHABA CHIEF EXECUTIVE OFFICER (START 6/24) 40.00 0.00 X 584380 0 68114 SALLY JENNINGS SECRETARY 40.00 0.00 X 446414 0 78307 EMILIO EMINI CHIEF EXECUTIVE OFFICER (END 6/24) 40.00 0.00 X 427377 0 64716 MICHAEL DUNNE CHIEF MEDICAL OFFICER (END 12/24) 40.00 0.00 X 812206 0 97835 DEBRA WEISS CHIEF OPERATING OFFICER 40.00 0.00 X 690828 0 82224 PIPER TRELSTAD HEAD OF CHEM, MANUFAC, & CONTROLS 40.00 0.00 X 548565 0 94178 JARED SILVERMAN HEAD OF TRANSLATIONAL DISCOVERY 40.00 0.00 X 573001 0 96604 CHARLES WELLS HEAD OF THERAPEUTICS DEVELOPMENT 40.00 0.00 X 523132 0 80412 ALEXANDER SCHMIDT HEAD OF DEVELOPMENT 40.00 0.00 X 496301 0 94974 MARLA CURRAN HEAD OF BIOSTATISTICS & DATA SCIENCE 40.00 0.00 X 480102 0 95424 CLAIRE WAGNER HEAD OF CORP STRAT & MKT ACCESS 40.00 0.00 X 463437 0 98597 6758449 3581724 1351140 162 0 1 0 IQVIA RDS INC 4820 EMPEROR BLVD DURHAM NC 27703 CLINICAL RESEARCH ORGANIZATION 76416929 BARC SA 11 NAPIER ROAD JOHANNESBURG SF 2092 CLINICAL LAB SERVICES 19804818 LOGIX INC 25 CORPORATE DRIVE SUITE 200 BURLINGTON MA 01803 SUPPLEMENTAL STAFFING AND CONSULTING SER 15077866 PPD DEVELOPMENT LP 26361 NETWORK PLACE CHICAGO IL 60673 CLINICAL RESEARCH ORGANIZATION 11652866 BEACON HILL STAFFING GROUP LLC 152 BOWDOIN ST BOSTON MA 02108 CONTINGENT WORKERS 7590845 116 41916618 90000000 131916618 857443 857443 CURRENCY CONVERSION 900099 59966 59966 59966 132834027 0 0 917409 X 4802067 2077505 2724562 45109082 39566718 5542364 6242979 5566263 676716 7468923 6331036 1137887 2746094 2356666 389428 1838992 1806361 32631 62288 62288 241233128 237571764 3661364 210012 128775 81237 4106926 3903772 203154 15000000 15000000 5540645 4829767 710878 2926968 2644757 282211 87871 80702 7169 1798348 1798348 327219 311373 15846 RECRUITING 913054 516200 396854 DUES AND SUBSCRIPTIONS 420035 395519 24516 FURNITURE AND EQUIPMENT 274320 236818 37502 OTHER EXPENSES 19494 19494 3353 3353 341131798 323323996 17807802 0 59115826 55874631 713665438 523235687 0 256179 10731709 5327625 44414043 18004882 31613748 26409161 1848085 2126357 816974806 613229640 61971358 66523963 61971358 66523963 X 755003448 546705677 0 0 755003448 546705677 816974806 613229640 -208297771 0 X 0 1 X 1 0 X UNIVERSITY OF WASHINGTON SEATTLE WA RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15474691 7221528 8253163 927879 613621 314258 28011473 10169733 17841740 26409161 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 1827460 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 39826053 NORTH AMERICA 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 696360 SOUTH ASIA 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 175972 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 21511719 SOUTH AMERICA 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 170878 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES CONDUCT MEDICAL RESEARCH, IDENTIFY MEDICAL RESEARCH PARTNERS 16515 0 0 0 0 0 0 64224957 0 64224957 1 0 0 0 0 0 SCHEDULE F, PART VI, LINE 1: THERE WERE TRANSFERS OF CASH TO FOREIGN CORPORATIONS BUT THEY WERE NOT OF THE TYPE DESCRIBED IN SECTION 6038B(A)(1)(A), 367(D), OR 367(E) SO NO FORM 926 WAS REQUIRED TO BE FILED. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 TREVOR MUNDEL DIRECTOR, BOARD CHAIR 0 1329113 0 0 0 67256 0 51750 0 18329 0 1466448 0 0 CAROLYN AINSLIE DIRECTOR 0 947100 0 0 0 77920 0 51750 0 32562 0 1109332 0 0 MICHAEL DUNNE CHIEF MEDICAL OFFICER (END 12/24) 732985 0 0 0 79221 0 51750 0 46085 0 910041 0 0 0 HARISH KAUSHAL TREASURER 518610 0 108583 0 85513 0 51750 0 42467 0 806923 0 0 0 DEBRA WEISS CHIEF OPERATING OFFICER 657093 0 0 0 33735 0 51750 0 30474 0 773052 0 0 0 TONI HOOVER DIRECTOR 0 578242 0 27302 0 36882 0 51750 0 30614 0 724790 0 0 JARED SILVERMAN HEAD OF TRANSLATIONAL DISCOVERY 552404 0 0 0 20597 0 51750 0 44854 0 669605 0 0 0 PATRICE MATCHABA CHIEF EXECUTIVE OFFICER (START 6/24) 439597 0 125000 0 19783 0 51750 0 16364 0 652494 0 0 0 PIPER TRELSTAD HEAD OF CHEM, MANUFAC, & CONTROLS 508759 0 0 0 39806 0 51750 0 42428 0 642743 0 0 0 CHARLES WELLS HEAD OF THERAPEUTICS DEVELOPMENT 480397 0 10285 0 32450 0 51750 0 28662 0 603544 0 0 0 ALEXANDER SCHMIDT HEAD OF DEVELOPMENT 481860 0 151 0 14290 0 51750 0 43224 0 591275 0 0 0 MARLA CURRAN HEAD OF BIOSTATISTICS & DATA SCIENCE 470253 0 0 0 9849 0 51750 0 43674 0 575526 0 0 0 GAGANDEEP KANG DIRECTOR 0 474938 0 135 0 26200 0 51750 0 17033 0 570056 0 0 CLAIRE WAGNER HEAD OF CORP STRAT & MKT ACCESS 447280 0 13373 0 2784 0 51750 0 46847 0 562034 0 0 0 SALLY JENNINGS SECRETARY 431932 0 0 0 14482 0 51750 0 26557 0 524721 0 0 0 EMILIO EMINI CHIEF EXECUTIVE OFFICER (END 6/24) 413617 0 0 0 13760 0 51750 0 12966 0 492093 0 0 0 PART I, LINE 1A THE TRAVEL POLICY, APPLICABLE TO ALL EMPLOYEES, ALLOWS FOR FIRST-CLASS AIR TRAVEL ON DOMESTIC RED-EYE FLIGHTS DEPARTING AFTER 9:00 PM THAT EXCEED FIVE HOURS IN DURATION AND BUSINESS-CLASS AIR TRAVEL ON INTERNATIONAL FLIGHTS THAT EXCEED FIVE HOURS IN DURATION. RELOCATION PACKAGES ARE GENERALLY PROVIDED TO NEW EMPLOYEES WHO RESIDE MORE THAN 50 MILES OUTSIDE OF CAMBRIDGE, MASSACHUSSETTS. THE ORGANIZATION GROSSES UP TAXABLE RELOCATION BENEFITS AND NOMINAL SPOT AWARDS FOR EXEMPLARY PERFORMANCE (MAXIMUM AWARD AVAILABLE FOR GROSS UP IS $400 PER YEAR). PART I, LINE 7: ALL EMPLOYEES ARE ELIGIBLE TO RECEIVE HIGH IMPACT BONUSES, ANNUALLY. THESE BONUSES ARE DISCRETIONARY TO BE PAID BASED ON PREDETERMINED FIXED AMOUNTS (BETWEEN $2,500 AND $10,000) AND THE TOTAL AMOUNT PAID IS DETERMINED BASED ON PERFORMANCE AND THE IMPACT ON THE ORGANIZATION. DURING 2024, GATES MEDICAL RESEARCH INSTITUTE PAID OUT HIGH IMPACT BONUSES, INCLUDING TO INDIVIDUALS LISTED ON PART VII, SECTION A. PART VII, SECTION A, LINE 1: TOTAL ANNUAL COMPENSATION IS REPORTED FOR ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES REGARDLESS OF THE LENGTH OF TIME ACTIVELY SERVING AS A DIRECTOR, OFFICER, OR KEY EMPLOYEE OF GATES MEDICAL RESEARCH INSTITUTE DURING 2024. FORM 990, PART VI, SECTION A, LINE 2 TREVOR MUNDEL, CAROLYN AINSLIE, TONI HOOVER, GAGANDEEP KANG, AND HELENE MADONICK HAVE A BUSINESS RELATIONSHIP AS CURRENT OR FORMER EMPLOYEES OF THE GATES FOUNDATION WHO RECEIVED COMPENSATION DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 4 GATES MEDICAL RESEARCH INSTITUTE AMENDED ITS ARTICLES OF INCORPORATION TO CHANGE ITS LEGAL NAME FROM BILL & MELINDA GATES MEDICAL RESEARCH INSTITUTE TO GATES MEDICAL RESEARCH INSTITUTE, EFFECTIVE JANUARY 6, 2025. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF GATES MEDICAL RESEARCH INSTITUTE IS THE GATES FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A GATES FOUNDATION, THE SOLE MEMBER OF GATES MEDICAL RESEARCH INSTITUTE, HAS THE AUTHORITY TO APPOINT AND REMOVE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B GATES FOUNDATION, THE SOLE MEMBER OF GATES MEDICAL RESEARCH INSTITUTE, HAS THE AUTHORITY TO AMEND THE ARTICLES OF INCORPORATION, ADOPT A PLAN OF MERGER OR CONSOLIDATION, AUTHORIZE THE SALE, LEASE, OR EXCHANGE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE ORGANIZATION, AUTHORIZE THE VOLUNTARY DISSOLUTION OF THE ORGANIZATION AND ADOPTION OF A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE ORGANIZATION, IN ACCORDANCE WITH THE ORGANIZATION'S ORGANIZATIONAL DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A THIRD-PARTY ACCOUNTANT. AFTER PREPARATION, IT IS REVIEWED IN DETAIL BY THE TREASURER OF THE INSTITUTE, AND THE TAX TEAM AND CONTROLLER OF GATES FOUNDATION, THE SOLE MEMBER OF GATES MEDICAL RESEARCH INSTITUTE. A COPY OF THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE CONSIDERED "COVERED PERSONS" FOR THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, AND AS SUCH, ARE REQUIRED TO DISCLOSE ANY RELATIONSHIPS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST INVOLVING THE ORGANIZATION. IN ADDITION, ANY TRANSACTIONS BETWEEN THE ORGANIZATION AND ANY OF THESE INDIVIDUALS (OR THEIR FAMILY MEMBERS OR AN AFFILIATED ENTITY) MUST BE DISCLOSED TO THE SECRETARY. IF THE SECRETARY HAS A POTENTIAL CONFLICT OF INTEREST, IT MUST BE DISCLOSED TO THE CHIEF EXECUTIVE OFFICER. THE SECRETARY AND CHIEF EXECUTIVE OFFICER ARE RESPONSIBLE FOR REVIEWING THE ANNUAL CONFLICT OF INTEREST DISCLOSURES AND RESOLVING ANY POTENTIAL CONFLICT OF INTERESTS THAT MAY ARISE. THE COVERED PERSON IS REQUIRED TO REFRAIN FROM USING THEIR PERSONAL INFLUENCE TO ENCOURAGE THE ORGANIZATION TO ENTER INTO THE COVERED TRANSACTION. ADDITIONALLY, THEY MUST NOT PARTICIPATE IN ANY DISCUSSIONS REGARDING THE COVERED TRANSACTIONS WITH OFFICERS, DIRECTORS AND EMPLOYEES OF THE ORGANIZATION, EXCEPT TO RESPOND TO REQUESTS FOR INFORMATION. IF THE TRANSACTION IS DEEMED TO BE REASONABLE BY THE DISINTERESTED DIRECTORS (IN THE CASE OF A CONFLICT INVOLVING A DIRECTOR OR THE CHIEF EXECUTIVE OFFICER) OR CHIEF EXECUTIVE OFFICER (IN THE CASE OF A CONFLICT INVOLVING ANOTHER OFFICER OR KEY EMPLOYEE), THE ORGANIZATION MAY ENTER INTO THE TRANSACTION, AS LONG AS IT IS FAIR AND REASONABLE TO THE ORGANIZATION. SIMILAR TO THE COVERED PERSONS, ALL EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST CERTIFICATION UPON COMMENCING EMPLOYMENT AND TO UPDATE THE CERTIFICATION ANNUALLY, AND AT ANY TIME THERE IS A CHANGE THAT REQUIRES DISCLOSURE. THE HEAD OF COMPLIANCE & RISK MANAGEMENT IS RESPONSIBLE FOR REVIEWING THE CERTIFICATIONS AND ADMINISTERING AND MAINTAINING THE POLICY. THE POLICY RETAINS THAT IF AN OFFICER, DIRECTOR, OR MEMBER OF SENIOR LEADERSHIP BECOMES AWARE OF A TRANSACTION THAT COULD CAUSE A CONFLICT OF INTEREST, THEY ARE TO IMMEDIATELY DISCLOSE SUCH TO THE SECRETARY OF THE ORGANIZATION. PROCEDURES FOR RESOLVING A COVERED TRANSACTION AFTER DISCLOSURE TO THE SECRETARY REMAIN IN PLACE AS OUTLINED ABOVE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF THE GATES MEDICAL RESEARCH INSTITUTE USES AN INDEPENDENT REVIEW, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION TO ESTABLISH TOTAL REMUNERATION PACKAGES FOR THE CEO, OFFICERS, AND CERTAIN KEY EMPLOYEES. THE BOARD IS PRESENTED WITH STUDY DATA, REVIEWS IT TO DETERMINE REASONABLENESS, AND THEN APPROVES TOTAL REMUNERATION ACCORDINGLY. ALL SUCH OFFICER AND CERTAIN KEY EMPLOYEE TOTAL REMUNERATION PACKAGES ARE REVIEWED AND APPROVED BY THE BOARD ANNUALLY. THE MOST RECENT COMPENSATION STUDY FOR PURPOSES OF THIS COMPENSATION PERIOD WAS CONDUCTED BY AN INDEPENDENT CONSULTANT IN 2024. COMPARABILITY DATA IS ALSO USED TO ESTABLISH COMPENSATION PACKAGES FOR OTHER EMPLOYEES. COMPENSATION PACKAGES FOR OTHER EMPLOYEES ARE APPROVED BY THE CEO ANNUALLY, BASED ON A COMPENSATION PHILOSOPHY ORIGINALLY APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. GATES MEDICAL RESEARCH INSTITUTE'S FINANCIAL STATEMENTS ARE CONSOLIDATED WITH GATES FOUNDATION, AND THE CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE AT WWW.GATESFOUNDATION.ORG. FORM 990, PART VI, SECTION A, LINE 9 ANY OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE THAT IS OR WAS AN EMPLOYEE OF THE GATES FOUNDATION CAN BE REACHED AT THE FOLLOWING ADDRESS. FOR 2024, THIS INCLUDES TREVOR MUNDEL, CAROLYN AINSILE, TONI HOOVER, GAGANDEEP KANG, AND HELENE MADONICK: P.O. BOX 23350 SEATTLE, WA 98102 FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 31,961,603. MANAGEMENT AND GENERAL EXPENSES 959,244. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 32,920,847. SCIENTIFIC CONSULTING AND TECHNICAL ASSISTANCE: PROGRAM SERVICE EXPENSES 202,703,850. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 202,703,850. OPERATIONAL ASSISTANCE: PROGRAM SERVICE EXPENSES 2,906,311. MANAGEMENT AND GENERAL EXPENSES 2,702,120. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,608,431. 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