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Dues of $720 have been specifically identified as pertaining to lobbying. 0 439900000 11966849 451866849 0.00000 0.97000 0.03000 true false 29717647 3812246 25905401 82228260 34090637 48137623 0 0 74043024 0 CAPITAL LEASE OBLIGATIONS 750118 750118 785477948 235970978 549506970 4235443 87793644 92029087 641536057 789713391 4235443 4235443 785477948 785477948 235970978 235970978 235970978 Endowment schedule d, part V The Broad Institute's endowment funds are used to support the Institute's primary research mission of genomic-based scientific research. schedule d, part x, line 2 Broad institute does not have a fin 48 statement. schedule d, part xi, line 8 Transfer of net assets at inception $87,793,614 ROUNDING ADJUSTMENT $ 30 TOTAL $87,793,644 true North America 0 0 Grantmaking 554186 Europe (Including Iceland and Greenland) 0 0 Grantmaking 901726 0 0 1455912 North America Subaward 45485 CHECK Europe/Iceland/Greenland Subaward 347286 CHECK North America Subaward 110685 CHECK North America Subaward 398016 CHECK Europe/Iceland/Greenland Subaward 554440 CHECK 4 1 SCHEDULE F PART I LINE 2 The Institute assigns responsibility for monitoring the use of grant funds outside of the United States to its Office of Sponsored Research. 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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 false false false false false false false false true true DR ERIC S LANDER 285522 0 0 0 418400 0 0 0 8546 0 712468 0 ALAN FEIN 188616 0 80000 0 11281 0 9900 0 10417 0 300214 0 DIANE MACDONALD 141066 0 80000 0 10876 0 7909 0 9941 0 249792 0 MONICA MACKEY 147908 0 0 0 18548 0 8200 0 8709 0 183365 0 ROBERT GOULD 139982 0 0 0 1467 0 0 0 8969 0 150418 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. 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. ADDITIONAL INFORMATION ON COLUMN B(III) COMPENSATION FOR DR. ERIC LANDER Dr. Eric Lander received a one time retroactive payment for services provided prior to the commencement of operations of the Broad Institute as a stand alone 501(c)(3). These services were provided over a 12 month period prior to commencing operations to assist in the formation of the Broad Institute and were paid to Dr. Lander based on the terms of his employment contract which was effective July 1, 2009. ADDITIONAL INFORMATION ON COMPENSATION ALL COMPENSATION AND BENEFITS ARE SHOWN FOR THE 6 MONTH PERIOD FROM JULY 1, 2009 TO DECEMBER 31, 2009 DUE TO THE ORGANIZATION'S OPERATIONS COMMENCING JULY 1, 2009. MISSION FORM 990, PART I, LINE 1 AND PART III, LINE 1 The mission of the Broad Institute, Inc. (the "Institute") is to propel progress in biomedicine, through research aimed at the understanding and treatment of disease, and the dissemination of scientific knowledge to the scientific community and the general public. SIGNIFICANT CHANGES FORM 990, PART III, LINE 3 THE BROAD INSTITUTE COMMENCED OPERATIONS DURING THE YEAR ENDED JUNE 30, 2010. 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 186 publications in 2009 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 2009, thirty students participated in a semester research project and 9 students did a summer internship at the Broad. In addition, the educational program sponsors class visits to the Broad and holds 4-5 seminars for high school teachers in the course of a year, which approximately 100 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. JEFFERY 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 11A 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.