2019-05-15T10:48:16-05:00 2018-06-30 PricewaterhouseCoopers LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 990 2017-07-01 061043412 WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH % JULIA FANTASIA WHIT 6172585000 455 MAIN STREET CAMBRIDGE MA 021421479 JULIA FANTASIA CFO 6172585113 2019-05-13 true PAUL TANIS P01441612 6175305000 2019-05-10 155.201.188.33 04363820191335000006 2019-05-13 P BF8E75C15676E6C60359B336682BBC346CBD720B 3188CC9ED81B9C6F51D1E724B8736A3BAF9980AF 2017 2019-02-21 02:37:17Z DAVID PAGE 455 MAIN STREET CAMBRIDGE MA 021421479 136868977 false X WWW.WI.MIT.EDU X 1981 MA SEE SCHEDULE O. 16 15 380 31 0 -1267059 38473117 32935474 2308127 1740021 48209128 26968518 7317306 8549461 96307678 70193474 2391442 2154657 0 0 31651161 29355992 0 0 1729225 43136949 40561111 77179552 72071760 19128126 -1878286 609489405 627527372 92556431 88298266 516932974 539229106 X SEE SCHEDULE O. false false 57408566 2154657 1740021 WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH IS AN INDEPENDENT NONPROFIT RESEARCH AND TEACHING INSTITUTION LOCATED IN CAMBRIDGE, MASSACHUSETTS. THE INSTITUTE WAS INCORPORATED IN 1981 TO PROMOTE AND EXPAND HUMAN KNOWLEDGE IN THE BIOMEDICAL AND OTHER SCIENTIFIC FIELDS WITH THE ULTIMATE GOAL OF IMPROVING HUMAN HEALTH AND WELL-BEING. THE RESEARCH OF THE INSTITUTE FOCUSES ON BASIC BIOLOGICAL PROCESSES INVESTIGATED MAINLY FROM A MOLECULAR OR CELLULAR PERSPECTIVE. RESEARCH IS CONDUCTED IN SEVERAL AREAS, INCLUDING CANCER, NEURODEGENERATIVE DISEASES, REGENERATIVE BIOLOGY, IMMUNOLOGY AND GENETICS. THE RESEARCH OF THE INSTITUTE IS CONDUCTED UNDER THE LEADERSHIP OF PRINCIPAL INVESTIGATORS WHO HOLD JOINT APPOINTMENTS TO THE FACULTIES OF THE INSTITUTE AND MASSACHUSETTS INSTITUTE OF TECHNOLOGY ("MIT") (THE "INSTITUTE FACULTY"). THE MEMBERS OF THE INSTITUTE FACULTY ARE RECOGNIZED LEADERS IN THEIR FIELDS. THE INSTITUTE FACULTY INCLUDE TWO RECIPIENTS OF THE NATIONAL MEDAL OF SCIENCE, FOUR HOWARD HUGHES MEDICAL INSTITUTE INVESTIGATORS, NINE MEMBERS OF THE NATIONAL ACADEMY OF SCIENCES AND TWO MEMBERS OF THE INSTITUTE OF MEDICINE. FOR MORE THAN THREE DECADES, WHITEHEAD INSTITUTE HAS MAINTAINED A STEADFAST COMMITMENT TO SCIENCE EDUCATION AND OUTREACH BY OFFERING PROGRAMS TO ENHANCE SCIENCE TEACHING AND LEARNING FOR THE ENTIRE COMMUNITY. WITH A VARIETY OF PROGRAMS RANGING IN SCOPE FROM LECTURES AND WORKSHOPS FOR TEACHERS AND STUDENTS TO SPECIAL EVENTS FOR NON-SCIENTISTS, WHITEHEAD OFFERS ITS PARTICIPANTS FIRST-HAND EXPOSURE TO STATE-OF-THE-ART RESEARCH. THESE PROGRAMS INCLUDE: SEMINAR SERIES FOR HIGH SCHOOL TEACHERS - THIS MONTHLY PROGRAM PROVIDES EDUCATORS AND OPPORTUNITY TO EXPLORE TOPICS AT THE FOREFRONT OF BIOMEDICAL RESEARCH. THE SERIES BEGINS IN OCTOBER AND LECTURES ARE HELD THE FIRST MONDAY OF EVERY MONTH THROUGH JUNE. SPRING LECTURE SERIES FOR HIGH SCHOOL STUDENTS - THIS PROGRAM, HELD DURING THE PUBLIC SCHOOL SPRING VACATION WEEK, FEATURES LECTURES FROM LEADING SCIENTIFIC EXPERTS, HANDS-ON LABORATORY DEMONSTRATIONS, VISITS TO LOCAL BIOTECHNOLOGY COMPANIES, AND INTERACTIONS WITH YOUNG WHITEHEAD INSTITUTE SCIENTISTS. SCIENCE WEEKS FOR MIDDLE SCHOOL STUDENTS - WHITEHEAD INSTITUTE HAS DEVELOPED IMMERSIVE, WEEK-LONG PROGRAMS FOR RISING 6TH, 7TH, AND 8TH GRADERS FEATURING HANDS-ON ACTIVITIES, CLASSROOM LESSONS, AND INTERACTIONS WITH SCIENTISTS. TWO SUCH SESSIONS ARE HELD IN THE SUMMER MONTHS; A THIRD, FOCUSING ON THE SCIENCE OF FORENSICS IN CRIMINAL INVESTIGATIONS, OCCURS IN FEBRUARY. BIOLOGY WEEK - AS A SERVICE TO THE SCIENTIFIC COMMUNITY, WHITEHEAD INSTITUTE HOSTS BIOLOGY WEEK, A WEB-BASED CALENDAR OF BIOLOGY SEMINARS AND SYMPOSIA IN THE BOSTON/CAMBRIDGE AREA. PUBLIC PROGRAM COLLABORATIONS - WHITEHEAD INSTITUTE ROUTINELY PARTNERS WITH VARIOUS RESEARCH INSTITUTIONS AND BIOTECHNOLOGY ORGANIZATIONS IN COORDINATING EDUCATIONAL PROGRAMMING FOR HIGH SCHOOL STUDENTS, TEACHERS, AND SCIENTISTS. 57408566 true true false true false false false true false true true true false false true true true false false false true false false false false false false true false true true false false false false false false false false false false true false false false false false false false false true 232 0 true 380 true true true false false false false false false false false false X 16 15 true false true false false false false true true false false true true true true true true true false false MA X JULIA FANTASIA 6172585113 455 MAIN STREET CAMBRIDGE MA 021421479 DR DAVID PAGE DIRECTOR/PRESIDENT 10.0 0.0 X X 363540 0 0 MR ARTHUR BRILL DIRECTOR/SECRETARY 2.0 0.0 X X 0 0 0 DR CHARLES ELLIS DIRECTOR/BOARD CHAIR 5.0 0.0 X 0 0 0 MS SUSAN WHITEHEAD DIRECTOR/BOARD VICE CHAIR 2.0 0.0 X 0 0 0 MS BRIT D'ARBELOFF DIRECTOR 2.0 0.0 X 0 0 0 MR JONATHAN GOLDSTEIN DIRECTOR 2.0 0.0 X 0 0 0 MR DAVID KOCH DIRECTOR END 3/18 2.0 0.0 X 0 0 0 DR ROBERT LANGER DIRECTOR 2.0 0.0 X 0 0 0 DR MARK LAPMAN DIRECTOR 2.0 0.0 X 0 0 0 DR PHILLIP SHARP DIRECTOR 2.0 0.0 X 0 0 0 MR JOHN WHITEHEAD DIRECTOR 2.0 0.0 X 0 0 0 MR PETER WHITEHEAD DIRECTOR 2.0 0.0 X 0 0 0 DR WILLIAM POUNDS DIRECTOR (EMERITUS) 2.0 0.0 X 0 0 0 DR ANDREW LO DIRECTOR 2.0 0.0 X 0 0 0 DR ARTHUR SCHLEIFER DIRECTOR 2.0 0.0 X 0 0 0 MR MICHAEL BONNEY DIRECTOR 2.0 0.0 X 0 0 0 THE HON DEVAL PATRICK DIRECTOR - END 3/18 2.0 0.0 X 0 0 0 MS AMY SCHULMAN DIRECTOR 2.0 0.0 X 0 0 0 DR PAUL L JOSKOW DIRECTOR 2.0 0.0 X 0 0 0 MR MARTIN MULLINS VICE PRESIDENT 40.0 0.0 X 434289 0 35251 MS CAROLINE ROMANO ASST SECRETARY 40.0 0.0 X 74248 0 0 MS LAURA KETCHUM CFO - END 10/17 40.0 0.0 X 227997 0 31827 MS JULIA FANTASIA CFO & TREASURER (START 11/2017 40.0 0.0 X 140000 0 12433 DR GERALD FINK MEMBER (FACULTY) 40.0 0.0 X 339789 0 37447 DR RUDOLF JAENISCH MEMBER (FACULTY) 40.0 0.0 X 320239 0 37947 DR RICHARD YOUNG MEMBER (FACULTY) 40.0 0.0 X 307284 0 39707 DR TERRY ORR-WEAVER MEMBER (FACULTY) 40.0 0.0 X 305611 0 35719 DR HAZEL SIVE MEMBER (FACULTY) 40.0 0.0 X 305038 0 37446 2818035 0 267777 57 false true false THE INVESTMENT FUND FOR FOUNDATIONS 170 N Radnor Chester Rd 300 RADNOR PA 19087 INVESTMENT MANAGER 1636010 MORSE BARNES-BROWN 230 3rd Ave4th Floor WALTHAM MA 02451 LEGAL FIRM 433990 Salt Creek Catering 15 Brewer Lane READING MA 01867 catering services 497241 PIDC CONSTRUCTION CORP 25 BIRCH STREET MILFORD MA 01757 construction 8040443 WOLF GREENFIELD SACKS PC 600 ATLANTIC AVE BOSTON MA 02210 LEGAL FIRM 567793 15 20303732 12631742 207040 32935474 SCIENTIFIC SERVICES 541900 1740021 1740021 1740021 9003581 9003581 0 7902324 7902324 799200 539275 259925 0 259925 259925 84101165 66136228 17964937 17964937 17964937 0 0 0 0 0 0 0 0 0 PROCESSING FEES FOR ADMIN ROYALTIES 900099 120125 120125 MISCELLANEOUS OTHER 900099 267087 267087 387212 70193474 1740021 35517979 2154657 2154657 0 0 0 1044798 149778 895020 0 20535485 15938086 3575420 1021979 1906500 1421275 394939 90286 4295215 3389806 718674 186735 1573994 1173395 326059 74540 0 1093364 959306 127408 6650 282073 282073 0 0 1918068 1918068 1364946 777038 455286 132622 6005 4804 1201 518920 303116 170379 45425 873259 224881 641875 6503 3756949 3756949 2481346 2156542 324804 375134 269202 74374 31558 0 477639 284199 128438 65002 3095159 2767139 328020 0 4696047 4059000 637047 274520 238586 35934 LAB SUPPLIES 7735125 7735125 FELLOWSHIPS 3167492 3167492 EQUIP PURCH/RENT REPAIR MAIN 4085683 2749166 1291655 44862 OTHER LAB EXPENSES 1111050 1098830 12221 3248331 2630194 595074 23063 72071760 57408566 12933969 1729225 0 0 30791339 12336039 4840748 4899810 1045236 1392498 0 0 0 0 456884 355241 0 0 1320418 1171415 161383646 103908966 44703489 57474680 7976940 8047393 513008250 537945523 0 0 0 0 5346101 3904773 609489405 627527372 2846063 2818848 0 0 2412296 3383635 34776993 32198464 0 0 0 0 0 0 44807490 44814284 7713589 5083035 92556431 88298266 X 486316184 506249956 21466285 13828645 9150505 19150505 516932974 539229106 609489405 627527372 X -1878286 24874803 -700385 X false true X true true true X 34141576 37140292 45139530 38473117 32935474 187829989 0 0 34141576 37140292 45139530 38473117 32935474 187829989 0 187829989 21942994 15935891 17710287 16306988 17705105 89601265 34648 34648 147528 351325 131831 325274 387212 1343170 278809072 8507860 0.67369 0.66373 X SCHEDULE A, PART II, LINE 10: THE TOTAL AMOUNT REPORTED ON LINE 10 INCLUDES PROCESSING FEES FOR ADMINISTRATION OF ROYALTIES AND OTHER MISCELLANEOUS ADMINISTRATIVE INCOME. SCHEDULE A, PARTS I & II IN 2018 WHITEHEAD INSTITUTE FILED FORM 8940, "REQUEST FOR MISCELLANEOUS DETERMINATION" TO REQUEST A DETERMINATION LETTER RECOGNIZING ITS CHANGE OF PUBLIC CHARITY STATUS TO A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN IRC SECTION 170(B)(1)(A)(VI). ON JUNE 19, 2018 THE IRS ISSUED A DETERMINATION LETTER STATING IT ACCEPTED THE CHANGE AND HAD UPDATED ITS RECORDS ACCORDINGLY. false false false false false false false false true 8560 8560 false SCHEDULE C, PART II-B, LINE 1I: THE INSTITUTE BELONGS TO MEMBER ORGANIZATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. AMOUNT REPORTED IN PART II-B, LINE 1I REPRESENTS THE AMOUNT OF DUES PAID ATTRIBUTABLE TO LOBBYING ACTIVITIES BASED ON INFORMATION PROVIDED BY THE MEMBER ORGANIZATIONS. 353374 X false 483580340 10000000 46934592 21337681 519177251 437671124 5000000 61980431 21071215 483580340 470283553 -11779884 20832545 437671124 478119833 12468965 20305245 470283553 427113202 71150262 20143631 478119833 0.96000 0.03700 0.00300 false false 3977500 3977500 96422446 71369942 25052504 1400249 1400249 39728952 31138775 8590177 19854499 0 19854499 57474680 GLOBAL/EMERGING MKT EQ. SEC. 304626158 F HEDGE FUNDS - ABSOLUTE RETURN 67931862 F PRIVATE EQUITY- FUNDS OF FUNDS 111129389 F PRIVATE EQUITY - INDUSTRY/VAR 8137550 F PRIVATE EQUITY - REAL ESTATE 14772967 F ULTRA-SHORT-TERM BOND FUND 9437672 F MONEY MARKET FUND 21909925 F 537945523 0 POST RETIREMENT HEALTH BENEFIT 1240259 DEFERRED COMPENSATION PLANS 3809679 CHARITABLE GIFT ANNUITY LIABILITY 33097 5083035 X 95607552 24874803 539275 25414078 70193474 70193474 72611035 539275 539275 72071760 72071760 SCHEDULE D, PART III, LINE 4: THE INSTITUTE'S ART COLLECTION WAS PURCHASED WITH A GIFT FROM ITS FOUNDER, EDWIN C. WHITEHEAD. THE COLLECTION CONSISTS OF 79 ARTWORKS EXECUTED IN OIL, ACRYLIC, WATERCOLOR AND MIXED MEDIA, PRINTS AND PHOTOGRAPHY. THE COLLECTION'S PURPOSE IS TO HELP CREATE/FOSTER A STIMULATING ENVIRONMENT THAT PROMOTES AN INNOVATIVE CULTURE TO ACHIEVE THE MISSION OF THE INSTITUTE. SCHEDULE D, PART V, LINE 4: THE INSTITUTE'S ENDOWMENT FUNDS ARE USED TO UNDERWRITE THE RESEARCH PROGRAM OF THE INSTITUTE AS WELL AS TO FUND THE ADMINISTRATION AND OPERATION OF THE INSTITUTE. THE INSTITUTE HAS ADOPTED ENDOWMENT INVESTMENT AND SPENDING POLICIES THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO THE INSTITUTE'S MISSION, SUPPORTED BY ITS ENDOWMENT, WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF ENDOWMENT ASSETS. THESE POLICIES DETERMINE THE AMOUNT THAT MAY BE DRAWN FROM ITS ENDOWMENT FUNDS. THE INSTITUTE DRAWS FUNDS FOR RESEARCH AND OPERATIONS, AS APPROVED BY THE BOARD, FROM TOTAL INVESTMENTS. SCHEDULE D, PART X, LINE 2: WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH ("THE INSTITUTE") DID NOT REPORT A LIABILITY FOR UNCERTAIN TAX POSITIONS. THE INSTITUTE'S FIN 48 FOOTNOTE IS AS FOLLOWS: THE INSTITUTE IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE INSTITUTE COMPLIES WITH AUTHORITATIVE GUIDANCE AND ACCOUNTING FOR AND DISCLOSURE OF UNCERTAINTY IN TAX POSITIONS. THE TAX CUTS AND JOBS ACT (THE "ACT") WAS ENACTED ON DECEMBER 22, 2017. THE ACT IMPACTS THE INSTITUTE IN SEVERAL WAYS INCLUDING INCREASES TO UNRELATED BUSINESS TAXABLE INCOME (UBTI) BY THE AMOUNT OF CERTAIN FRINGE BENEFITS FOR WHICH A DEDUCTION IS NOT ALLOWED, CHANGES TO THE NET OPERATING LOSS RULES, REPEAL OF THE ALTERNATIVE MINIMUM TAX (AMT), AND THE COMPUTATION OF UBTI SEPARATELY FOR EACH UNRELATED TRADE OR BUSINESS. FURTHER, THE ACT REDUCES THE U.S. FEDERAL CORPORATE TAX RATE AND FEDERAL CORPORATE UNRELATED BUSINESS INCOME TAX RATE FROM 35% TO 21%. THE OVERALL IMPACT OF THE ACT REMAINS UNCERTAIN AND THE FULL IMPACT OF THE ACT WILL NOT BE KNOWN UNTIL FURTHER REGULATORY GUIDANCE IS PROVIDED TO ASSIST THE INSTITUTE WITH CALCULATING ANY RELATED INCOME TAX LIABILITIES. THE INSTITUTE CONTINUES TO EVALUATE THE IMPACT OF TAX REFORM ON THE ORGANIZATION. SCHEDULE D, PART XI, LINE 2D: RENTAL EXPENSES - $539,275 SCHEDULE D, PART XII, LINE 2D: RENTAL EXPENSES - $539,275 Central America and the Caribbean Investments 76385789 76385789 76385789 true false true true true false true BOSTON UNIVERSITY 25 BUICK STREET BOSTON MA 02215 042103547 501(C)(3) 91688 N/A N/A RESEARCH SUBAWARDS DANA-FARBER CANCER INSTITUTE 450 BROOKLINE AVENUE BROOKLINE MA 02215 042263040 501(C)(3) 1180107 N/A N/A RESEARCH SUBAWARDS HARVARD UNIVERSITY 1350 MASS AVENUE CAMBRIDGE MA 02138 042103580 501(C)(3) 448791 N/A N/A RESEARCH SUBAWARDS BOSTON CHILDREN'S HOSPITAL 300 LONGWOOD AVENUE BOSTON MA 02115 042774441 501(C)(3) 265618 N/A N/A RESEARCH SUBAWARDS TUFTS UNIVERSITY 169 HOLLAND STREET TUFTS ADMIN BUILDING 3RD FLOOR SOMERVILLE MA 02144 042103634 501(C)(3) 115023 N/A N/A RESEARCH SUBAWARD MASS GENERAL HOSPITAL 55 FRUIT ST BOSTON MA 02114 041564655 501(c)(3) 12306 N/A N/A BRIGHAM AND WOMEN'S HOSPITAL 75 FRANCIS ST BOSTON MA 02115 042312909 501(C)(3) 41122 N/A N/A 7 SCHEDULE I, PART I, LINE 2 GRANT FUNDS ARE MANAGED IN ACCORDANCE WITH THE INSTITUTE'S RULES AND REGULATIONS. EXPENDITURES ARE REVIEWED TO ENSURE THAT THE COSTS INCURRED AND CHARGED TO A PARTICULAR GRANT ARE IN COMPLIANCE WITH THE INSTITUTE'S POLICIES AND GRANTOR REQUIREMENTS. X true true X X X false false false false false false false true false DR DAVID PAGE DIRECTOR/PRESIDENT 0 0 0 0 363540 0 0 0 0 0 363540 0 0 0 MR MARTIN MULLINS VICE PRESIDENT 386165 0 35000 0 13124 0 30475 0 4776 0 469540 0 0 0 DR GERALD FINK MEMBER (FACULTY) 332284 0 0 0 7505 0 30475 0 6972 0 377236 0 0 0 DR RUDOLF JAENISCH MEMBER (FACULTY) 313867 0 0 0 6372 0 30475 0 7472 0 358186 0 0 0 MS LAURA KETCHUM CFO - END 10/17 227083 0 0 0 914 0 25196 0 6631 0 259824 0 0 0 DR RICHARD YOUNG MEMBER (FACULTY) 279134 0 0 0 28150 0 30475 0 9232 0 346991 0 0 0 DR TERRY ORR-WEAVER MEMBER (FACULTY) 296763 0 0 0 8848 0 30475 0 5244 0 341330 0 0 0 DR HAZEL SIVE MEMBER (FACULTY) 254867 0 0 0 50171 0 28614 0 8832 0 342484 0 0 0 MS JULIA FANTASIA CFO & TREASURER (START 11/2017 120000 0 20000 0 0 0 12205 0 228 0 152433 0 0 0 SCHEDULE J, PART I, LINES 1A & 1B: WHITEHEAD INSTITUTE HAS A BOARD COMPENSATION COMMITTEE, WHICH HAS A CHARTER. IN ADDITION, WHITEHEAD HAS AN EXECUTIVE COMPENSATION POLICY. DAVID PAGE'S HOUSING ALLOWANCE IS IN ACCORDANCE WITH THE COMPENSATION COMMITTEE CHARTER AND EXECUTIVE COMPENSATION POLICY. SCHEDULE J, PART I, LINE 7 & PART II, COLUMN (B)(II): THE BONUS REPORTED IN COLUMN B(II) FOR MR. MARTIN MULLINS REPRESENTS A NON-FIXED PAYMENT MADE TO MR. MARTIN MULLINS IN RECOGNITION OF MEETING CERTAIN PERFORMANCE GOALS FOR CALENDAR YEAR 2017. THE BONUS REPORTED IN COLUMN B(II) FOR MS. JULIA FANTASIA REPRESENTS A NON-FIXED PAYMENT MADE TO MS. JULIA FANTASIA IN RECOGNITION OF WORK PERFORMED IN THE ROLE OF INTERIM CFO. MS. CAROLINE ROMANO ALSO RECEIVED A NON-FIXED BONUS PAYMENT IN RECOGNITION OF MEETING CERTAIN PERFORMANCE GOALS. THIS AMOUNT IS INCLUDED IN FORM 990, PART VII, SECTION A, COLUMN (D). A MASS DEVELOPMENT FINANCE AGENCY 043431814 57583UEV6 2011-07-01 43581560 Capital and Equpment purchases false true false A 10110000 0 43581560 0 0 0 581560 0 0 10000000 33000000 0 2014 true false true true A false false false false 0 false false false true A false false false true false false 0 false 0 false true A true FORM 990, SCHEDULE K, PART I, COLUMN F, LINE A: DESCRIPTION OF PURPOSE: BUILDING IMPROVEMENTS AND EQUIPMENT PURCHASES; REFUND OF 1993 AND 1995 BONDS. SCHEDULE K, PART III: THE INSTITUTE MONITORS THE USE OF BOND-FINANCED FACILITIES AND EQUIPMENT AND HAS DETERMINED THAT IT HAS NO MANAGEMENT OR SERVICE CONTRACTS, RESEARCH CONTRACTS, UNRELATED TRADE OR BUSINESS ACTIVITIES, OR OTHER ACTIVITIES WITH RESPECT TO BOND-FINANCED EQUIPMENT OR FACILITIES THAT WOULD RESULT IN PRIVATE BUSINESS USE. SCHEDULE K, PART IV, COLUMN A, LINE 2C: A REBATE COMPUTATION WAS PERFORMED ON 08/04/2014. X 7 207040 SALE PROCEEDS AT FMV 0 false true false SCHEDULE M, COLUMN B: THE INSTITUTE IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE 1 & PART III, LINE 1: ORGANIZATION'S MISSION: WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH ("THE INSTITUTE") ENGAGES IN BIOMEDICAL RESEARCH AND EDUCATION TO FOSTER THE UNDERSTANDING OF BIOLOGICAL SYSTEMS, ORGANISMS, AND PROCESSES, WITH THE ULTIMATE GOAL OF IMPROVING HUMAN HEALTH AND WELL-BEING. FORM 990, PART I, LINE 6: THE INSTITUTE DOES NOT FORMALLY TRACK VOLUNTEERS, BUT HAS INCLUDED THE NUMBER OF BOARD MEMBERS AND EXECUTIVE COMMITTEE MEMBERS OF THE BOARD OF ASSOCIATES (FRIENDS OF THE INSTITUTE) THAT ARE UNCOMPENSATED. FORM 990, PART VI, LINE 2: JOHN, PETER, AND SUSAN WHITEHEAD (ALL DIRECTORS) HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. FORM 990, PART VI, LINE 4 DURING FISCAL YEAR 2018 WHITEHEAD INSTITUTE REVISED ITS BY-LAWS AND ARTICLES OF INCORPORATION. THE REVISIONS SEEK TO ACHIEVE CONSISTENCY ACROSS THE DOCUMENTS AS WELL BRING THEIR DIRECTIVES INTO ALIGNMENT WITH THE CONTEMPORARY AND FORWARD LOOKING FUNCTION OF THE BOARD AND THE OPERATIONS OF THE INSTITUTION. KEY CHANGES INCLUDED DEFINING FOUNDING MEMBERS AND ESTABLISHING TERM LIMITS. FORM 990, PART VI, LINE 11B: THE PROCESS FOR THE FORM 990 INCLUDES REVIEW BY SENIOR MANAGEMENT, THE AUDIT COMMITTEE, AND THE INDEPENDENT EXTERNAL TAX CONSULTANTS. THE AUDIT COMMITTEE REVIEWS A DRAFT OF THE RETURN AND THE FULL BOARD RECEIVES A FINAL COPY OF THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, LINE 12C: PROMPTLY AFTER THE END OF EACH FISCAL YEAR OF THE INSTITUTE (JUNE 30), AND IMMEDIATELY FOLLOWING ELECTION TO THE BOARD, OR AS AN OFFICER, FOR THE FIRST TIME, DIRECTORS AND OFFICERS SHALL SUBMIT TO THE VICE PRESIDENT, OR SUCH PERSON AS THE DIRECTORS MAY DESIGNATE, A COMPLETED DISCLOSURE STATEMENT REPORTING INFORMATION SPECIFICALLY REQUESTED IN THE STATEMENT AND ALSO REPORTING ON BEHALF OF THEMSELVES, THEIR FAMILY MEMBERS, AND ORGANIZATIONS WITH WHICH THEY HAVE A BUSINESS RELATIONSHIP, ANY ACTUAL OR PLANNED BUSINESS OR OTHER TRANSACTION OR RELATIONSHIP THAT DIRECTLY OR INDIRECTLY INVOLVES THE INSTITUTE OR THAT FOR SOME OTHER REASON COULD BE CONSTRUED AS A CONFLICT OF INTEREST BECAUSE IT MIGHT AFFECT THEIR INDEPENDENT, UNBIASED JUDGMENT WHEN CARRYING OUT THEIR DUTIES FOR THE INSTITUTE. IF A MATTER COMES BEFORE THE BOARD OR ANY COMMITTEE OF THE BOARD IN WHICH A DIRECTOR HAS AN INTEREST (EITHER DIRECTLY OR INDIRECTLY), SUCH DIRECTOR SHOULD WITHDRAW FROM DISCUSSION AND VOTING WHEN THE BOARD OR COMMITTEE ACTS ON SUCH MATTER. CONFLICTS OF INTEREST ARE MONITORED BY THE VICE PRESIDENT AND DIRECTOR WHO ADVISE THE CHAIRMAN OF THE BOARD. FORM 990, PART VI, LINE 15: A COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS AND RECOMMENDS CHANGES TO THE PRESIDENT'S COMPENSATION BASED UPON PERFORMANCE AGAINST MULTI-YEAR GOALS. THE PRESIDENT REVIEWS THE SENIOR MANAGEMENT SALARIES AND REPORTS TO THE BOARD OF DIRECTORS. FACULTY SALARIES ARE SET BY MASSACHUSETTS INSTITUTE OF TECHNOLOGY ON AN ANNUAL BASIS. ALL OTHER OFFICER SALARIES ARE PART OF A RAISE POOL THAT IS DETERMINED ANNUALLY AND APPROVED BY THE BOARD OF DIRECTORS AS PART OF THE BUDGET APPROVAL PROCESS. FORM 990, PART VI, LINE 19: THE INSTITUTE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS OR FUND BALANCES: POST-RETIREMENT RELATED CHANGES: $1,324,295 EARLY RETIREMENT INCENTIVE PROGRAM: - $2,024,680 TOTAL OTHER CHANGES IN NET ASSETS OR FUND BALANCES: $-700,385