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THIS OFFICE MONITORS ALL GRANT MAKING ACTIVITY INCLUDING ALL APPLICABLE COMPLIANCE REGULATIONS. EXPENSES ARE ACCOUNTED FOR ON AN ACCRUAL BASIS. X X X false true X X X X X true false false false false false false false true true DR ERIC S LANDER 576590 0 0 215395 9800 17091 818876 0 0 ALAN FEIN 390281 0 0 17815 22800 17000 447896 0 0 DIANE MACDONALD 286763 0 0 20819 20800 14665 343047 0 0 KERI LYNN STALKER 132424 0 0 16988 11099 5950 166461 0 0 MONICA MACKEY 0 0 0 416416 6833 0 423249 0 0 JENNIFER S BALDWIN 263351 0 0 15528 19940 6697 305516 0 0 MICHAEL FOLEY 273382 0 0 1078 4900 16899 296259 0 0 ALYKHAN SHAMJI 232280 0 0 16994 12493 5954 267721 0 0 JILL MESIROV 216193 0 0 20092 14492 1930 252707 0 0 PATRICIA FILIPPONE 188432 0 0 17213 16400 17821 239866 0 0 PROVISIONS OF BENEFITS FORM 990, SCHEDULE J, LINE 1B AS AN ELEMENT OF HIS EMPLOYMENT CONTRACT, THE PRESIDENT/CEO RECEIVED A HOUSING ALLOWANCE. THIS BENEFIT WAS APPROVED AS A PART OF THE COMPENSATION REVIEW PROCESS. AS AN ELEMENT OF HIS EMPLOYMENT CONTRACT, THE PRESIDENT/CEO RECEIVED GROSS-UP PAYMENTS ON HIS HOUSING ALLOWANCE AND PAYMENTS OF TUITION. THESE BENEFITS WERE APPROVED AS A PART OF THE COMPENSATION REVIEW PROCESS. BOTH OF THESE AMOUNTS ARE REFLECTED IN THE "OTHER REPORTABLE COMPENSATION" AMOUNT ON SCHEDULE J, PART II, COLUMN B (III). FIRST-CLASS AIRFARE MUST BE PRE-APPROVED BY THE TRAVEL OFFICE AND IS ALLOWED ONLY ON OVERSEAS FLIGHTS AND IN CERTAIN OTHER LIMITED SITUATIONS. SEVERANCE PAYMENT FORM 990, SCHEDULE J, LINE 4A MONICA MACKEY TERMINATED HER EMPLOYMENT AT THE BROAD INSTITUTE ENDING JANUARY 2010. PER THE TERMS OF HER EMPLOYMENT AGREEMENT, SHE RECEIVED ONE YEAR SALARY SEVERANCE IN THE AMOUNT OF $416,416 IN JANUARY 2010 AT THE END OF HER EMPLOYMENT. INITIAL CONTRACT FORM 990, SCHEDULE J, LINE 8 THE PRESIDENT/CEO ENTERED INTO AN EMPLOYMENT AGREEMENT WITH THE BROAD INSTITUTE COMMENCING IN JULY 2009 FOR A TERM OF 5 YEARS. MASS DEVELOPMENT FINANCE AGENCY - SERIES A (2011) 043431814 57583UCG1 2011-05-05 265470128 ACQUISITION & CONSTRUCTION false false false 0 0 265470128 0 39031801 0 1894074 0 0 224544253 0 0 false false false false false false false false 0.00000 0.00000 0.00000 false false false false false false false false false SCHEDULE K, PART III, LINE 7 EFFECTIVE SEPTEMBER 2011, THE BROAD INSTITUTE HAS ADOPTED MANAGEMENT PRACTICES AND PROCEDURES IN ORDER TO ENSURE THE POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES FOR THE FISCAL YEAR ENDING JUNE 30, 2012. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4A THE BROAD INSTITUTE OPERATES FOR EDUCATIONAL AND SCIENTIFIC PURPOSES AND IS A NEW KIND OF RESEARCH INSTITUTION AIMED AT PROPELLING THE TRANSFORMATION OF MEDICINE, BY BRINGING POWERFUL NEW APPROACHES TO BEAR ON THE UNDERSTANDING AND TREATMENT OF DISEASE. ITS RESEARCH PROGRAM ENCOMPASSES MULTIDISCIPLINARY AND INTEGRATED PROGRAMS IN MEDICAL AND POPULATION GENETICS, CANCER, INFECTIOUS DISEASE, METABOLIC AND PSYCHIATRIC DISEASES, AS WELL AS RESEARCH IN GENOME BIOLOGY, CELLULAR CIRCUITRY, COMPUTATIONAL BIOLOGY, CHEMICAL BIOLOGY AND NOVEL THERAPEUTICS. THERE WERE A TOTAL OF 269 PUBLICATIONS IN 2010 RESULTING FROM BROAD RESEARCH. THE BROAD INSTITUTE HOLDS AN ANNUAL SCIENTIFIC RETREAT, A TWO-DAY MEETING FEATURING PRESENTATIONS AND POSTERS ON A VARIETY OF RESEARCH PROJECTS ACROSS THE INSTITUTE, ATTENDED BY ALMOST A THOUSAND RESEARCHERS FROM THE BROAD COMMUNITY. THE BROAD DIRECTOR RECEIVED THE ALBANY MEDICAL PRIZE IN MEDICINE AND BIOMEDICAL RESEARCH TO RECOGNIZE FOUNDATIONAL CONTRIBUTIONS TO THE EFFORTS TO DECODE THE HUMAN GENETIC BLUEPRINT. THE BROAD'S EDUCATIONAL OUTREACH PROGRAM ENGAGES BOSTON-CAMBRIDGE AREA HIGH SCHOOL STUDENTS IN SCIENTIFIC RESEARCH BY PROVIDING SUMMER INTERNSHIPS AND SEMESTER-LONG RESEARCH PROJECTS. IN 2010, 30 STUDENTS PARTICIPATED IN A SEMESTER RESEARCH PROJECT AND 35 STUDENTS DID A SUMMER INTERNSHIP AT THE BROAD. IN ADDITION, THE EDUCATIONAL PROGRAM SPONSORS CLASS VISITED THE BROAD AND HELD 6 SEMINARS FOR HIGH SCHOOL TEACHERS IN THE COURSE OF A YEAR, WHICH APPROXIMATELY 103 TEACHERS ATTENDED LAST YEAR. VOLUNTEERS FORM 990, PART I, LINE 6 THE BROAD INSTITUTE DOES NOT FORMALLY TRACK VOLUNTEERS BUT HAS INCLUDED THE NUMBER OF BOARD MEMBERS AND COMMITTEE MEMBERS OF THE BOARD OF ASSOCIATES THAT ARE UNCOMPENSATED. RELATIONSHIPS AMONG FORM 990 PART VI, LINE 2 PHILLIP SHARP IS AN EMPLOYEE OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND SUSAN HOCKFIELD IS THE PRESIDENT OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY, THEREFORE THEY HAVE A BUSINESS RELATIONSHIP. THEY ARE BOTH DIRECTORS AT THE BROAD INSTITUTE. JEFFREY FLIER IS AN EMPLOYEE OF HARVARD UNIVERSITY AND DREW GILPIN FAUST IS THE PRESIDENT OF HARVARD UNIVERSITY, THEREFORE THEY HAVE A BUSINESS RELATIONSHIP. THEY ARE BOTH DIRECTORS AT THE BROAD INSTITUTE. MEMBERS FORM 990 PART VI, LINE 6 THE MEMBERS OF THE BROAD INSTITUTE CONSIST OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY ("MIT"), PRESIDENT AND FELLOWS OF HARVARD COLLEGE ("HARVARD") AND THE ELI AND EDYTHE BROAD FOUNDATION ("THE FOUNDATION"). DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS FORM 990 PART VI, LINE 7B BROAD MEMBERS (HARVARD, MIT AND THE BROAD FOUNDATION) EXERCISE ALL POWERS CONSISTENT WITH THE ACTIVITIES AND AFFAIRS OF THE BROAD INSTITUTE. THE MEMBERS HAVE ALL POWERS AND RIGHTS AS ARE VESTED IN THEM BY LAW, THE ARTICLES OF ORGANIZATION AND THE BY-LAWS, WHICH INCLUDE AMENDMENTS TO THE BY-LAWS AND ARTICLES OF INCORPORATION, THE ELECTION OR REPLACEMENT OF DIRECTORS, DISTRIBUTIONS OF THE ENDOWMENT PRIOR TO JULY 1, 2014 AND DISSOLUTION OF THE INSTITUTE. THE MEMBERS SHALL HOLD AN ANNUAL MEETING FOR ELECTION OF DIRECTORS AND FOR THE CONDUCT OF SUCH OTHER BUSINESS AS MAY COME BEFORE THE MEETING. REVIEW OF 990 FORM 990, PART VI, LINE 11B THE BROAD INSTITUTE'S FORM 990 WAS PREPARED WITH THE ASSISTANCE OF THE INSTITUTE'S AUDITORS, PRICEWATERHOUSECOOPERS (PWC). THE DRAFT FORM 990 WAS PROVIDED TO THE INSTITUTE'S SENIOR MANAGEMENT AND AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE FULL BOARD RECEIVED A COMPLETED COPY OF THE FORM 990 PRIOR TO THE FORM BEING FILED WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12 EACH DIRECTOR AND OFFICER HAS A DUTY TO PLACE THE INTEREST OF THE INSTITUTE FOREMOST IN ANY DEALING WITH THE INSTITUTE AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THIS POLICY. EACH DIRECTOR AND OFFICER IS REQUIRED TO ANNUALLY ACKNOWLEDGE HIS OR HER FAMILIARITY WITH THIS POLICY AND DISCLOSE IN WRITING TO THE CHAIRMAN OF THE BOARD ANY EXISTING FINANCIAL OR OTHER MATERIAL INTERESTS SUBJECT TO THIS POLICY BY COMPLETING A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS IS REVIEWED BY THE CHAIRMAN OF THE BOARD. ANY ISSUES NOT PREVIOUSLY DISCLOSED ARE REFERRED BY HIM OR HER TO THE BOARD OR APPROPRIATE COMMITTEE. THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE RETAINED IN THE CONFIDENTIAL FILES OF THE CHAIRMAN OF THE BOARD. COMPENSATION FORM 990, PART VI, LINE 15 THE BROAD INSTITUTE ENGAGED AN OUTSIDE COMPENSATION CONSULTING FIRM (RADFORD) THAT SPECIALIZES IN THE BIOTECHNOLOGY FIELDS EARLY IN 2009 TO CONDUCT AN EXTERNAL BENCHMARK COMPENSATION STUDY OF SPECIFIC LEADERSHIP POSITIONS. RADFORD PRESENTED THEIR FINAL RECOMMENDATIONS AND FINDINGS TO THE COMPENSATION COMMITTEE WHO THEN REVIEWED AND CONTEMPORANEOUSLY DOCUMENTED THEIR DELIBERATIONS AND DECISIONS. THE TOP FIVE HIGHEST PAID EMPLOYEES AND ALL OFFICERS OTHER THAN THE PRESIDENT/CEO WERE INCLUDED IN RADFORD'S STUDY. THE BROAD INSTITUTE ENGAGED PRICEWATERHOUSECOOPERS TO CONDUCT AN INDEPENDENT STUDY FOR THE PRESIDENT/CEO'S COMPENSATION. THE PWC FINDINGS WERE PRESENTED IN MAY OF 2008. THE COMPENSATION COMMITTEE THEN REVIEWED AND CONTEMPORANEOUSLY DOCUMENTED THEIR DELIBERATIONS AND DECISIONS. THE TERMS OF THE PRESIDENT/CEO'S COMPENSATION PACKAGE WERE JOINTLY AGREED UPON BY BROAD, HARVARD AND MIT (THE INSTITUTE'S FOUNDING MEMBER ORGANIZATIONS). AS A RESULT, A FIVE YEAR EMPLOYMENT AGREEMENT WAS CREATED ON JULY 1, 2009 WHICH OUTLINES THE PRESIDENT/CEO'S COMPENSATION AND BENEFITS PACKAGE. AVAILABILITY OF DOCUMENTS FORM 990, PART VI, LINE 19 THE INSTITUTE'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST. THE INSTITUTE'S AUDITED FINANCIAL STATEMENTS ARE ALSO ATTACHED TO THE ANNUALLY FILED MASSACHUSETTS FORM PC, WHICH IS AVAILABLE TO THE PUBLIC. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 5 NET UNREALIZED GAINS ON INVESTMENTS $(267,283)