2017-05-15T14:59:55-05:00 2016-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2015-07-01 210672684 CORIELL INSTITUTE FOR MEDICAL RESEARCH INC CORI 8567574828 403 HADDON AVENUE CAMDEN NJ 08103 CONSTANTINE STOIOS CHIEF FINANCIAL OFFICER 8567574828 2017-05-15 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2021-01-29 14:40:06Z CONSTANTINE STOIOS 403 HADDON AVENUE CAMDEN NJ 08103 18481093 0 X WWW.CORIELL.ORG X 1953 NJ BIOMEDICAL RESEARCH ORGANIZATION DEDICATED TO UNDERSTANDING HUMAN GENETIC DISEASES. 13 10 163 19 0 0 1298301 1420848 18960148 16312210 159644 38999 2223 16704 20420316 17788761 0 0 0 0 10718863 9838333 0 0 538 11032874 10603309 21751737 20441642 -1331421 -2652881 39599716 34446594 14926969 13053276 24672747 21393318 X CORIELL'S MISSION IS TO ACCELERATE SCIENTIFIC DISCOVERY BY GENERATING WORLD-CLASS BIOMATERIALS AND CONDUCTING GROUNDBREAKING RESEARCH IN PERSONALIZED MEDICINE AND STEM CELL BIOLOGY. 0 0 14358801 0 16312210 CORIELL INSTITUTE FOR MEDICAL RESEARCH, FOUNDED IN 1953 AND BASED IN CAMDEN, NEW JERSEY, IS AN INDEPENDENT NON-PROFIT RESEARCH INSTITUTE DEDICATED TO THE STUDY OF THE HUMAN GENOME. EXPERT STAFF AND PIONEERING PROGRAMS IN THE FIELDS OF PERSONALIZED MEDICINE, CELL BIOLOGY, CYTOGENETICS, GENOTYPING, AND BIOBANKING DRIVE OUR MISSION. THE INSTITUTE MAINTAINS REPOSITORIES FOR CELL LINES AND DNA AND DISTRIBUTES OVER 20,000 BIOMATERIALS ANNUALLY TO RESEARCHERS NATIONALLY AND INTERNATIONALLY.THE CORIELL PERSONALIZED MEDICINE COLLABORATIVE (CPMC) RESEARCH STUDY IS SEEKING TO UNDERSTAND THE USEFULNESS OF GENETIC RISK AND PHARMACOGENOMICS IN CLINICAL DECISION-MAKING AND HEALTHCARE MANAGEMENT.CORIELL HAS A DISTINGUISHED HISTORY IN CELL BIOLOGY, PURSUING CURRENTLY INDUCED PLURIPOTENT STEM (IPS) CELL RESEARCH. THESE POWERFUL CELLS ARE REVOLUTIONIZING THE WAY HUMAN DISEASE IS STUDIED AND HOW DRUGS ARE DEVELOPED. CORIELL OFFERS CUSTOM RESEARCH SERVICES INCLUDING CELL CULTURE, CYTOGENETIC ANALYSES, AND MOLECULAR BIOLOGY. ITS CLIA-CERTIFIED GENOTYPING AND MICROARRAY CENTER OFFERS HIGH-THROUGHPUT DNA ANALYSIS SYSTEMS USING THE PLATFORMS OF TWO LEADING PROVIDERS.ESSENTIAL TO THE INSTITUTE'S SUPPORT OF INTERNATIONAL SCIENTIFIC RESEARCH IS THE CORIELL BIOBANK. FROM THIS RENOWNED CELL BANK, CORIELL MANAGES AND DISTRIBUTES THE WORLD'S MOST DIVERSE COLLECTION OF CELL LINES, DNA, AND OTHER BIOLOGICAL RESOURCES. THE CORIELL BIOBANK PROVIDED SUPPORT TO THE HUMAN GENOME PROJECT, A WORLDWIDE PROGRAM TO MAP THE ENTIRE HUMAN GENOME, AND TO THE INTERNATIONAL HAPMAP PROJECT, A PROJECT PROVIDING AN EFFICIENT TOOL TO IDENTIFY DISEASE-CAUSING GENES.CORIELL'S BIOBANKING OPERATION IS FUNDED BY SEVERAL NATIONAL INSTITUTES OF HEALTH AWARDS. 14358801 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 59 0 1 163 1 0 0 0 0 0 0 0 0 0 0 X 13 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NJ PA NY CA X DENISE BUSCHER CONTROLLER 8567574846 403 HADDON AVENUE CAMDEN NJ 08103 ROBERT KIEP III CHAIR 1.00 X X 0 0 0 MARC MASER ESQ VICE CHAIR 1.00 X X 0 0 0 MICHAEL F CHRISTMAN PHD PRESIDENT & CEO/SECRETARY 40.00 X X 504793 0 25077 ARNAUD BASTIEN MD TRUSTEE 1.00 X 0 0 0 SUSAN DELANEY TRUSTEE/DIR. GOV'T AFFAIRS & POLICY 40.00 X 124333 0 12787 PETER DRISCOLL ESQ TRUSTEE 1.00 X 0 0 0 JOANNE FREDERICKS TRUSTEE (DEPARTED 12/15) 1.00 X 0 0 0 DAVID FRIEDMAN TRUSTEE 1.00 X 0 0 0 FRANK GIORDANO TRUSTEE 1.00 X 0 0 0 LIESL HENDERSON TRUSTEE (DEPARTED 10/15) 1.00 X 0 0 0 CALVIN KNOWLTON PHD TRUSTEE 1.00 X 0 0 0 CHARLES LORD TRUSTEE 1.00 X 0 0 0 ROLAND SCHWARTING TRUSTEE 1.00 X 0 0 0 EDWARD VINER MD TRUSTEE 1.00 X 0 0 0 CONSTANTINE DEAN STOIOS CFO/TREASURER 40.00 X 187334 0 32317 ANDREW I MACKNIGHT CHIEF STRATEGY OFFICER 40.00 X 242312 0 35221 MARK BELLAFANTE DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 155135 0 28510 DORIT S BERLIN PHD DIR. BIOBANKING & SCIENCE OPERATIONS 40.00 X 148528 0 27801 CRISTIAN PEREZ PHD PRINCIPAL INVESTIGATOR 40.00 X 117559 0 8744 LEO JOSE MANAGER OF APPLICATION DEVELOPMENT 40.00 X 114399 0 26399 NORMAN P GERRY PHD DIRECTOR OF GENOTYPING 40.00 X 146590 0 16780 BERNADETTE M HORVAT EXEC. DIRECTOR OF HUMAN RESOURCES 40.00 X 139029 0 28256 JOSEPH L MINTZER FORMER EXECUTIVE VP & COO 0.00 X 217478 0 16720 2097490 0 258612 16 1 1 0 CELLULAR DYNAMICS INTERNATIONAL 525 SCIENCE DRIVE MADISON WI 53711 CONSULTING 1407597 ARCHER & GREINER ONE CENTENNIAL SQUARE HADDONFIELD NJ 08033 LEGAL SERVICES 105988 2 10210 1037000 373638 1420848 GOVT FEES & CONTRACTS 621500 14960536 14960536 NON-GOVERNMENT REPOSITORY SERVICE 621500 1299737 1299737 INVESTIGATOR DIRECTED SCIENCE 621500 51937 51937 16312210 166649 166649 16668 16668 7933 7933 0 556749 684399 -127650 -127650 -127650 MISCELLANEOUS INCOME 900099 36 36 36 17788761 16312210 0 55703 X 1290777 1290777 6656355 5023595 1632760 219689 169334 50355 1139538 1042466 97072 531974 364803 167171 25212 25212 100904 100904 44750 44750 3938416 2677389 1260489 538 2444469 2380323 64146 2034517 1303061 731456 283359 118169 165190 1731682 1279661 452021 20441642 14358801 6082303 538 1200 1200 2984827 4038 3735671 3823346 645503 413677 143500 121000 81569 206311 608438 609977 31287823 20168430 11363171 11119393 7717138 5769781 12318699 12377871 39599716 34446594 2675425 2472139 418279 255 2494922 1698950 6703483 6289924 1000000 2000000 1634860 592008 14926969 13053276 X 9634120 7318384 14222049 13258356 816578 816578 24672747 21393318 39599716 34446594 X -2652881 -608538 -18010 X 0 1 X 1 1 1 X 3330518 1231553 2523357 1298301 1420848 9804577 3330518 1231553 2523357 1298301 1420848 9804577 380223 9424354 218218 147671 189689 216365 174582 946525 17871 158312 59315 2223 36 237757 10988859 87378490 0.85760 0.84540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2011 AMOUNT: $ 121. 2012 AMOUNT: $ 3,312. 2013 AMOUNT: $ 178. 2014 AMOUNT: $ 2,223. 2015 AMOUNT: $ 36. CAPITAL LEASE REDUCTION - 2013 AMOUNT: $ 59,137. SCIENCE FAIR - 2011 AMOUNT: $ 17,750. MEDICAL SCHOOL CURRICULUM DESIGN - 2012 AMOUNT: $ 155,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44750 44750 20396892 20441642 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 43350 40910 38500 44750 167510 250000 250000 250000 250000 1000000 1500000 7717138 1237 -448594 1500000 5769781 7634237 6339 76562 7717138 6427603 208295 998339 7634237 5411350 173504 842749 6427603 5601595 10189 -200434 5411350 0.25040 0.14150 0.60810 0 0 245000 245000 14203926 7915623 6288303 1736899 1314335 422564 15101998 10938472 4163526 11119393 NEW JERSEY CORD BLOOD BANK 4681400 USE OF RESEARCH FACILITY 6741821 SPLIT-INTEREST AGREEMENTS 716442 OTHER MISCELLANEOUS ASSETS 4185 DEFERRED FINANCING COSTS, NET 37663 UNDERRECOVERY OF INDIRECT COSTS 196360 12377871 ADVANCES ON HAND 518027 DERIVATIVE FINANCIAL INSTRUMENT 54257 HOLDING ACCOUNTS 19724 592008 X 18277628 -608538 652275 437197 480934 17796694 -7933 -7933 17788761 22025762 652275 937165 1589440 20436322 5320 5320 20441642 PART V, LINE 4: THE INSTITUTE'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE SHORT AND LONG TERM GOALS OF THE INSTITUTE. THE INSTITUTE HAS AN APPROVED SPENDING RATE OF 4.0% FOR BOTH 2016 AND 2015 TO DETERMINE THE AMOUNT OF ENDOWMENT EARNINGS TO BE ALLOCATED TO OPERATIONS FROM INTERNALLY MANAGED ENDOWMENTS. THE SPENDING RATE, WHICH IS SUBJECT TO REVIEW BY THE INSTITUTE'S BOARD OF TRUSTEES, IS APPLIED TO A MOVING AVERAGE OF ANNUAL ENDOWMENT LEVELS OVER THE PRIOR THREE YEARS. AT ITS DISCRETION THE BOARD MAY APPROVE DRAWS OF ADDITIONAL FUNDS ABOVE THE SPENDING RATE TO SUPPORT SPECIFIC GOALS OF THE INSTITUTE. THE INSTITUTE DREW $1,500,000 OF FUNDS FROM THE ENDOWMENT DURING THE YEAR ENDING JUNE 30, 2016. PART X, LINE 2: THE INSTITUTE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING 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 DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2016 AND 2015. THE INSTITUTE'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR YEARS ENDED JUNE 30, 2015, 2014 AND 2013 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 15,067. CHANGE IN VALUE OF FUTURE BUILDING OCCUPANCY -88,753. CHANGE IN VALUE OF DERIVATIVE FINANCIAL INSTRUMENT 55,676. CORIELL LIFE SCIENCE REVENUE 187,587. SPECIAL EVENTS EXPENSES RECLASSED -5,320. CHANGE IN NET ASSETS - CORIELL LIFE SCIENCES NON-CONTROLLING INTERESTS -382,060. INVESTOR CONTRIBUTIONS - CORIELL LIFE SCIENCES NON-CONTROLLING INTERESTS 655,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -7,933. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 7,933. CORIELL LIFE SCIENCE EXPENSES 929,232. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES RECLASSED 5,320. EUROPE 0 0 LICENSING TECHNOLOGY THERE IS NO ACTIVITY IN FOREIGN REGIONS. THE ORGANIZATION RECEIVES ROYALTIES FOR SHARED MEDICAL TECHNOLOGY WITH AN ITALIAN BIO-TECH FIRM. 16668 0 0 0 0 0 0 16668 0 16668 0 0 0 0 0 0 X X X X X 1 0 0 0 0 0 0 1 0 MICHAEL F CHRISTMAN PHD PRESIDENT & CEO/SECRETARY 459793 0 45000 0 0 0 18550 0 6527 0 529870 0 0 0 CONSTANTINE DEAN STOIOS CFO/TREASURER 177334 0 10000 0 0 0 13844 0 18473 0 219651 0 0 0 ANDREW I MACKNIGHT CHIEF STRATEGY OFFICER 222312 0 20000 0 0 0 17108 0 18113 0 277533 0 0 0 MARK BELLAFANTE DIRECTOR OF INFORMATION TECHNOLOGY 150135 0 5000 0 0 0 11195 0 17315 0 183645 0 0 0 DORIT S BERLIN PHD DIR. BIOBANKING & SCIENCE OPERATIONS 133528 0 15000 0 0 0 10715 0 17086 0 176329 0 0 0 NORMAN P GERRY PHD DIRECTOR OF GENOTYPING 143590 0 3000 0 0 0 10347 0 6433 0 163370 0 0 0 BERNADETTE M HORVAT EXEC. DIRECTOR OF HUMAN RESOURCES 129029 0 10000 0 0 0 10429 0 17827 0 167285 0 0 0 JOSEPH L MINTZER FORMER EXECUTIVE VP & COO 0 0 0 0 217478 0 0 0 16720 0 234198 0 0 0 PART I, LINE 4A MR. JOSEPH MINTZER, THE FORMER EVP AND COO, RECEIVED SEVERANCE PAY OF $217,478 FOR THE YEAR AFTER HIS DEPARTURE FROM THE ORGANIZATION IN SEPTEMBER 2014. PART I, LINE 7 THE COMPENSATION COMMITTEE DETERMINES BONUSES FOR OFFICERS AND KEY EMPLOYEES BASED UPON VARIOUS PERFORMANCE CRITERIA. PERFORMANCE CRITERIA AND BASED ON VARIOUS OBJECTIVES, WITH SOME OF WHICH ARE BASED ON BUSINESS/FINANCIAL GOALS. OVERALL, THE PRIMARY OBJECTIVES ARE OPERATIONAL IN NATURE WITH CONSIDERATION GIVEN TO FINANCIAL OUTCOMES. A THE CAMDEN COUNTY IMPROVEMENT AUTHORITY 222681222 2008-07-02 6000000 FINANCE THE RENOVATION OF LABORATORY/OFFICE SPACE AND PURCHASE EQUIPMENT 0 0 0 A 4301050 6000000 119000 5881000 2010 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 TD BANK 8.000000000000 0 0 0 0 1 A 1 FORM 990, SCHEDULE K, PART III, LINE 3C THE ORGANIZATION IS A RESEARCH FACILITY WHICH DOES NOT HAVE RENTAL AGREEMENTS OR SERVICE CONTRACTS THAT CONSTITUTE A CONTRACT WHICH MIGHT RESULT IN PRIVATE BUSINESS USE. SHOULD THE ORGANIZATION ENTER INTO AN AGREEMENT THAT WOULD NECESSITATE THE REVIEW OF BOND COUNSEL, IT WOULD TAKE ALL NECESSARY STEPS TO ENSURE THAT ALL SAFE HARBOR REQUIREMENTS WERE MET. M CHRISTMAN PHD TRUSTEE/PRESIDENT AND CEO PURCHASE PROPERTY X 250000 121000 0 1 1 121000 FORM 990, PART VI, SECTION A, LINE 1 THERE ARE 11 BOARD MEMBERS ON THE EXECUTIVE COMMITTEE. WITH THE EXCEPTION OF THE PRESIDENT AND CEO, THE OTHER BOARD MEMBERS OF THE EXECUTIVE COMMITTEE ARE NON-EMPLOYED VOLUNTARY BOARD MEMBERS. THE EXECUTIVE COMMITTEE MAY ACT ON BEHALF OF THE BOARD OF TRUSTEES WHEN THE BOARD IS NOT IN SESSION. FORM 990, PART VI, SECTION A, LINE 2 ONE OF CORIELL'S BOARD TRUSTEES (J. FREDERICKS) WORKS FOR A FIRM THAT PREPARES CORIELL'S INVESTMENT PORTFOLIO REPORT(PA TRUST). CORIELL'S CHAIR OF BOARD OF TRUSTEES (R. KIEP) IS A BOARD MEMBER OF A COMPANY PRIMARILY OWNED BY P. DRISCOLL (CORIELL BOARD TRUSTEE). CORIELL LIFE SCIENCES, INC., A SPIN-OFF FOR-PROFIT ORGANIZATION FROM CORIELL INSTITUTE FOR MEDICAL RESEARCH, WAS PRIMARILY CONTROLLED BY THE CORIELL INSTITUTE FOR MEDICAL RESEARCH DURING FY 2016 (6/30/16). DURING FY 2016 (6/30/16), CORIELL LIFE SCIENCES, INC. DID GENERATE REVENUE, BUT RESULTED IN A NET OPERATING LOSS. FORM 990, PART VI, SECTION B, LINE 11 THE CONTROLLER INITIALLY PERFORMS A THOROUGH REVIEW OF THE FORM 990 AND THEN THE CFO PROVIDES A SECOND REVIEW. ONCE APPROVED AFTER INTERNAL REVIEW, THE CHAIR OF THE AUDIT COMMITTEE REVIEWS THE FORM 990 AND PRESENTS ITS CONTENTS TO MEMBERS OF THE AUDIT AND EXECUTIVE COMMITTEES. THE FORM IS DISTRIBUTED TO ALL CORIELL TRUSTEES BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CEO ANNUALLY DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT TO EACH MEMBER OF THE BOARD OF TRUSTEES. EACH TRUSTEE MUST COMPLETE AND RETURN THE ANNUAL DISCLOSURE STATEMENT TO THE CEO ON A TIMELY BASIS. HE OR SHE MUST TIMELY INFORM THE CEO AND/OR THE COMMITTEE OF ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST OR OF ANY SITUATION WHICH MIGHT LEAD TO THE APPEARANCE OF A CONFLICT OF INTEREST. IN ADDITION, THE CHIEF FINANCIAL OFFICER (CFO) ANNUALLY DISTRIBUTES A COPY OF THE EMPLOYEE CONFLICT OF INTEREST POLICY AND DISCLOSURE STATEMENT TO EACH OFFICER, EXECUTIVE, AND APPROPRIATE EMPLOYEE. THESE EMPLOYEES ARE REQUIRED TO SUBMIT THE COMPLETED DISCLOSURE STATEMENT TO THE CFO AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST. REPORTED CONFLICTS OF INTEREST ARE SHARED WITH THE EXECUTIVE COMMITTEE. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST IS EXCLUDED FROM VOTING ON ANY ISSUE INVOLVING THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 USING COMPARABILITY DATA SOURCED FROM AN INDEPENDENT ORGANIZATION, A BOARD OF TRUSTEES' COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE AND ESTABLISHES THE ANNUAL COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER. COMPENSATION DECISIONS ARE DETERMINED BY TAKING INTO CONSIDERATION THE FAIR MARKET RANGE FOR THE INDUSTRY. ALL COMMITTEE DISCUSSIONS ARE DOCUMENTED IN BOARD MINUTES. THE PRESIDENT DETERMINES THE COMPENSATION ANNUALLY FOR ALL OTHER EMPLOYEES, INCLUDING OFFICERS AND KEY EMPLOYEES, BASED ON PERFORMANCE APPRAISALS AND REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 2,677,389. MANAGEMENT AND GENERAL EXPENSES 1,260,489. FUNDRAISING EXPENSES 538. TOTAL EXPENSES 3,938,416. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 15,067. CHANGE IN VALUE OF FUTURE BUILDING OCCUPANCY -88,753. CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENT 55,676. CORIELL LIFE SCIENCE EXPENSES -929,232. CORIELL LIFE SCIENCES NON-CONTROLLING INTERESTS 272,940. CORIELL LIFE SCIENCE REVENUE 187,587. NET ASSET VALUE - CORIELL LIFE SCIENCES 468,705. CORIELL LIFE SCIENCES 403 HADDON AVENUE CAMDEN NJ 08103 461794812 GENETIC DATA STORAGE AND INTERPRETATION DE CORIELL INSTITUTE FOR MEDICAL RESEARCH C -741645 1306912 0.67000 1 0 0 0 1 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0 CORIELL LIFE SCIENCES D 1095727 COST