2013-05-13T18:05:13-05:00 2012-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2011-07-01 061043412 WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH % LAURA SANDER WHIT 6172585000 NINE CAMBRIDGE CENTER CAMBRIDGE MA 021421479 SHARON FRANCIS 2013-05-10 true PRICEWATERHOUSECOOPERS LLP 6175305000 2011 2016-02-24 21:20:13Z DAVID PAGE NINE CAMBRIDGE CENTER CAMBRIDGE MA 021421479 190023498 false X WWW.WI.MIT.EDU X 1981 MA SEE SCHEDULE O. 19 17 390 32 -375671 -397271 33803316 32697910 488112 758303 22500934 20892037 9037359 10120277 65829721 64468527 0 0 0 0 28525945 29551806 0 0 918757 40802541 41121833 69328486 70673639 -3498765 -6205112 539050931 506336838 48672372 59550418 490378559 446786420 X SEE SCHEDULE O. false false 56185542 0 758303 BIOLOGICAL AND LIFE SCIENCES RESEARCH PROGRAMS, GENE 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. 56185542 true true false true false false false true false true true true false false true true true false true false true false false false false false false false false true true false false false false false true false false false true true false false false false false false false false false true 218 0 true 390 true true true false false false false false false false false false X 19 17 true false false false false false false true true false false true true true true true true true false false MA X LAURA SANDER 6172585932 NINE CAMBRIDGE CENTER CAMBRIDGE MA 021421479 X DR DAVID PAGE 10.0 X X 316072 0 0 MR ARTHUR BRILL 2.0 X X 0 0 0 DR CHARLES ELLIS 5.0 X 0 0 0 MS SUSAN WHITEHEAD 2.0 X 0 0 0 MR LANDON CLAY 2.0 X 0 0 0 MS BRIT D'ARBELOFF 2.0 X 0 0 0 MR JONATHAN GOLDSTEIN 2.0 X 0 0 0 DR PETER HECHT 2.0 X 0 0 0 DR PETER KIM 2.0 X 0 0 0 MR DAVID KOCH 2.0 X 0 0 0 DR ROBERT LANGER 2.0 X 0 0 0 DR MARK LAPMAN 2.0 X 0 0 0 DR NANCY ROSE 2.0 X 0 0 0 DR PHILLIP SHARP 2.0 X 0 0 0 MR JOHN WHITEHEAD 2.0 X 0 0 0 MR PETER WHITEHEAD 2.0 X 0 0 0 MR NEIL CHAYET 2.0 X 0 0 0 DR JOSHUA S BOGER 2.0 X 0 0 0 DR WILLIAM POUNDS 2.0 X 0 0 0 MR MARTIN MULLINS 40.0 X 332510 0 31296 MS LAURA SANDER 40.0 X 227366 0 29732 MS KIMBERLY FORNESS 40.0 X 91232 0 13864 DR TERRY ORR-WEAVER 40.0 X 296611 0 26947 DR GERALD FINK 40.0 X 296529 0 32585 DR HIDDE PLOEGH 40.0 X 279011 0 31627 DR RUDOLF JAENISCH 40.0 X 266586 0 34424 DR ROBERT WEINBERG 40.0 X 252195 0 32605 2358112 0 233080 39 false true false CAPITAL GUARDIAN TRUST COMPANY 120 SOUTH COLLEGE BLVD BREA CA 92821 INVESTMENT MANAGER 2107213 SIENNA CONSTRUCTION CORP 25 BIRCH STREET CAMBRIDGE MA 02138 CONTRACTING SERVICES 800921 THE INVESTMENT FUND FOR FOUNDATIONS 200 CARR HARBOR DR STE 100 WEST CONSHOHOCKEN PA 19428 INVESTMENT MANAGER 796263 WILLIAMS CONNOLLY LLP 725 TWELTH ST NW WASHINGTON DC 20005 LEGAL COUNSEL 643196 BAIN CAPITAL 111 HUNTINGTON AVENUE BOSTON MA 02199 INVESTMENT MANAGER 411679 12 22811805 9886105 118169 32697910 SCIENTIFIC SERVICES 900099 758303 758303 758303 9883586 -375671 10259257 0 0 4461704 4461704 7375309 4190184 3185125 3185125 3185125 132373238 121364787 11008451 11008451 11008451 0 0 0 0 0 0 EQUITY TRANSFER REVENUE 900099 2313070 2313070 PROCESSING FEE FOR ADMIN OF ROYALTIES 900099 119279 119279 OTHER 900099 41099 41099 2473448 64468527 758303 -375671 31387985 0 0 0 0 1043709 128950 914759 0 20098202 17336344 2173266 588592 1864680 1608439 201632 54609 5086381 4613963 319791 152627 1458834 1258364 157747 42723 0 86393 86393 447937 447937 0 0 2673307 2673307 390740 269427 119886 1427 10877 8484 2393 911224 731752 157519 21953 671410 475225 190089 6096 2060506 2060506 2966191 2529086 437105 483052 395214 66403 21435 0 78335 70151 4764 3420 1980360 1683306 297054 0 7998395 4326286 3672109 141732 141732 LAB SUPPLIES 8316677 8316677 FELLOWSHIPS 4367345 4322947 44398 RESEARCH SUBCONTRACTS 1944340 1944340 EQUIP PURCH/RENT REPAIR MAIN 2233315 1561951 660915 10449 3359697 2544130 800141 15426 70673639 56185542 13569340 918757 2286 2886 5738372 9386423 2587735 3383736 1961778 1966684 460307 386145 0 0 820660 992245 0 0 1178165 1792976 171909978 116725901 58923667 55184077 45357248 37915408 420293272 392885971 0 0 0 0 1727441 2440287 539050931 506336838 4055869 4388855 0 0 3263143 3559055 39894549 48292438 0 0 0 0 0 0 0 0 1458811 3310070 48672372 59550418 X 463621749 426141010 22606305 16494905 4150505 4150505 490378559 446786420 539050931 506336838 X -6205112 -37387027 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 6720 6720 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 ENTIRE AMOUNT OF DUES PAID. 297167 X false false false 391037591 41061916 -15923653 19654772 396521082 332575001 75711790 17249200 391037591 309747030 41008971 18181000 332575001 397020184 -68910154 18363000 309747030 0.99000 0.01000 0.00000 false false 3977500 3977500 87574305 53981881 33592424 33818294 27823308 5994986 46049639 34920712 11128927 490240 0 490240 55184077 GLOBAL/EMERGING MKT EQ. SEC. 139571941 F ABSOLUTE INCOME EQUITY SEC 49743117 F EMERGING MKTS DEBT SECURITIES 27745229 F HEDGE FUNDS - ABSOLUTE RETURN 85593571 F PRIVATE EQUITY- FUNDS OF FUNDS 30219715 F PRIVATE EQUITY - INDUSTRY/VAR 29158706 F PRIVATE EQUITY - REAL ESTATE 27678676 F CASH & CASH EQUIVALENTS 3175016 F 392885971 0 POST RETIREMENT HEALTH BENEFIT 3310070 3310070 64468527 70673639 -6205112 -35765622 -1621405 -37387027 -43592139 32893089 -35765622 4190184 -31575438 64468527 64468527 74863823 4190184 4190184 70673639 70673639 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 77 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: THE INSTITUTE'S PRIOR YEAR ENDOWMENT FUND ACCOUNTING WAS RESTATED IN CONNECTION WITH ITS FY 2012 FINANCIAL STATEMENTS TO MORE ACCURATELY REFLECT THE INSTITUTE'S USE OF ENDOWMENT FUNDS. 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: FOR TAX PURPOSES, THE INSTITUTE HAS BEEN DESIGNATED AS A PUBLICLY SUPPORTED EDUCATIONAL INSTITUTE 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. SCHEDULE D, PART XI, LINE 8: LOSS ON DISPOSAL OF FIXED ASSETS (61,474) LOSS ON RETIREMENT OF BORROWINGS (172,188) POST-RETIREMENT RELATED CHANGES (1,387,743) ------------ TOTAL (1,621,405) SCHEDULE D, PART XII, LINE 2D: RENTAL EXPENSES - 4,190,184 SCHEDULE D, PART XIII, LINE 2D: RENTAL EXPENSES - 4,190,184 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3: NOTICE OF THE NON-DISCRIMINATORY POLICY IS PUBLISHED ANNUALLY IN THE SUNDAY EDUCATION SECTION OF THE BOSTON GLOBE. ALSO, ALL JOB POSTINGS LISTED ON THE INSTITUTE'S EXTERNAL WEBSITE STATE THAT THE INSTITUTE IS AN EQUAL OPPORTUNITY EMPLOYER. SCHEDULE E, LINE 6A: THE INSTITUTE RECEIVES RESEARCH GRANTS FROM THE FEDERAL GOVERNMENT. Central America and the Caribbean 0 0 Investments 116321915 0 0 0 0 116321915 116321915 true false true true true false X false true X X X false false false false false false false true false DR DAVID PAGE 0 0 0 0 316072 0 0 0 0 0 316072 0 MR MARTIN MULLINS 321590 0 0 0 10920 0 27886 0 3410 0 363806 0 0 0 MS LAURA SANDER 221262 0 5000 0 1104 0 25994 0 3738 0 257098 0 0 0 DR TERRY ORR-WEAVER 203667 0 0 0 92944 0 23214 0 3733 0 323558 0 0 0 DR GERALD FINK 285071 0 0 0 11458 0 27839 0 4746 0 329114 0 0 0 DR HIDDE PLOEGH 221221 0 0 0 57790 0 25649 0 5978 0 310638 0 0 0 DR RUDOLF JAENISCH 257021 0 0 0 9565 0 27846 0 6578 0 301010 0 0 0 DR ROBERT WEINBERG 244787 0 0 0 7408 0 27859 0 4746 0 284800 0 0 0 SCHEDULE J, PART I, LINES 1A & 1B: DAVID PAGE RECEIVES A HOUSING ALLOWANCE. NO WRITTEN POLICY IS CURRENTLY IN PLACE, HOWEVER, THE BOARD APPROVED HOUSING ALLOWANCE IS PART OF THE COMPENSATION PACKAGE FOR THE DIRECTOR OF THE INSTITUTE. SCHEDULE J, PART I, LINE 7 & PART II, COLUMN (B)(II): THE BONUS REPORTED IN COLUMN B(II) REPRESENTS A NON-FIXED PAYMENT MADE TO MS. LAURA SANDER IN RECOGNITION OF MEETING CERTAIN PERFORMANCE GOALS FOR CALENDAR YEARS 2011 AND 2012. MS. KIMBERLY FORNESS 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). MHEFA (2008 LOAN) 042456011 2008-10-30 4000000 EQUIPMENT PURCHASES false false true MASS DEVELOPMENT FINANCE AGENCY 043431814 57583UEV6 2011-07-01 43581560 SEE SCHEDULE O false false false 2004261 0 4000000 0 0 0 30263 0 0 3969737 0 0 2011 false false true true 1211860 0 43581560 0 0 0 494150 0 0 3817539 33000000 6269871 true false false true false false false false 0.00000 0.00000 0.00000 true false false false false 0.00000 0.00000 0.00000 true false false false 0 false 0 false false false false 0 false 0 false SEE SCHEDULE O 0 DAVID PAGE - MORTGAGE ASSISTANCE X 350000 204895 false true true HIDDE PLOEGH - MORTGAGE ASSISTANCE X 350000 181250 false true true 386145 MERCK CO INC DIRECTOR IS OFFICER 140000 ROYALTY PAYMENTS ON PATENTS false X 2 118169 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 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 FOR THE FIRST TIME, DIRECTORS AND OFFICERS SHALL SUBMIT TO THE VICE PRESIDENT, OR SUCH PERSON AS THE DIRECTOR 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 SALARY. 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 IX: FOR THE 2011 FORM 990, THE INSTITUTE ADOPTED A REVISED METHODOLOGY FOR ALLOCATING FUNCTIONAL EXPENSES BETWEEN PROGRAM SERVICE EXPENSES AND MANAGEMENT AND GENERAL EXPENSES TO MORE ACCURATELY REFLECT ACTUAL USE OF INSTITUTE RESOURCES. FORM 990, PART XI, LINE 5: OTHER CHANGES IN NET ASSETS OR FUND BALANCES: UNREALIZED LOSS ON INVESTMENTS: (35,765,622) LOSS ON DISPOSAL OF FIXED ASSETS: (61,474) LOSS ON RETIREMENT OF BORROWINGS: (172,188) POST-RETIREMENT RELATED CHANGES: (1,387,743) --------------- TOTAL OTHER CHANGES IN NET ASSETS OR FUND BALANCES (37,387,027) FORM 990, SCHEDULE K, PART I, COLUMN F, LINE B: 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. FORM 990, SCHEDULE K, PART V: CORRECTIVE ACTION POLICY: THE INSTITUTE FORMALIZED A WRITTEN CORRECTIVE ACTION POLICY AFTER THE END OF THE TAX YEAR.