HAUPTMAN-WOODWARD MEDICAL RESEARCH INSTITUTE INC

EIN: 160807558 501(c)(3) Medical Research

Buffalo, NY

Total Revenue
$11,025,702
Total Expenses
$10,453,501
Total Assets
$27,556,503
Net Assets
$22,547,933
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
NY
Principal Officer
Chris Greene Interim CEO
Phone
7168988600
Tax Period
2023-11-01 to 2024-10-31

HAUPTMAN-WOODWARD MEDICAL RESEARCH INSTITUTE INC, founded in 1956, is a mid-sized nonprofit in the Medical Research sector that reported $11.0M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $10.5M left a modest 5% surplus.

Mission

Guided by its motto, CURE-OSITY, the Hauptman-Woodward Medical Research Institute (HWI) creates novel strategies and technologies to promote the understanding, prevention, and treatment of many human diseases. HWI scientists conduct basic, fundamental research that will provide for effective therapeutic approaches far into the future. Often our research includes identifying proteins involved in disease which allows treatments to be more effective by targeting those proteins. Examples of current projects include breast cancer, prostate cancer, multiple myeloma, studying the effect of gravity on cells, and biological cell structure determination for nearly all disease through the use of hard X-ray free electron lasers (XFELs) and high-throughput crystallization.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,568,196
Program Service Revenue $4,643,291
Investment Income $2,303,143
Other Revenue $511,072
TOTAL REVENUE $11,025,702

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,798,784
Fundraising Expenses $116,704
Program Expenses $9,007,926
Other Expenses $7,654,717
TOTAL EXPENSES $10,453,501

Year-over-Year Comparison

2023 2022 Change
Revenue $11,025,702 $8,691,259 +0.3%
Expenses $10,453,501 $9,386,732 +0.1%
Net Income $572,201 $-695,473 -1.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
23
Independent Members
21
Employees
37
Volunteers
21

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$795,095
Total Directors
23
$243,165
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Edward Snell Chief Scientific Officer 37.5
Officer
$155,919 $42,417 $255,344
Lisa Keefe VP 37.5
Officer
$225,718 $14,022 $239,740
Anne Kent Chief Financial Officer 37.5
Officer
$152,939 $27,072 $180,011
Devrim Acehan Cryo-EM Director 37.5
Highest
$138,942 $28,409 $167,351
Daniel Gewirth Principal Research Scientist 37.5
Highest
$134,964 $23,158 $158,122
John Muir Software Developer 37.5
Highest
$122,732 $30,982 $153,714
Blanca Carbajal Business Development Director 37.5
Highest
$136,678 $2,776 $139,454
Aviv Paz Principal Investigator 37.5
Highest
$102,505 $29,194 $131,699
Sarah Bowman Board Member/Associate Investigator 37.5
Director
$99,753 $23,412 $123,165
Christopher Greene Interim CEO 1
Officer Director
$120,000 $0 $120,000
Christina Arthurs Board Member 0.2
Director
$0 $0 $0
LaVonne Ansari Board Member 0.2
Director
$0 $0 $0
Tricia Barrett Board Member/Vice Chairperson of the Board 0.2
Officer Director
$0 $0 $0
Steve Bell Board Member 0.2
Director
$0 $0 $0
Jill Bond Board Member/Secretary 0.2
Officer Director
$0 $0 $0
EJ Burke Board Member 0.2
Director
$0 $0 $0
William Constantine Board Member 0.2
Director
$0 $0 $0
Artem Evdokimov Board Member 0.2
Director
$0 $0 $0
Frank Ewing Board Member 0.2
Director
$0 $0 $0
Venu Govindaraju Board Member 0.2
Director
$0 $0 $0
Andrei Gudkov Board Member 0.2
Director
$0 $0 $0
William Harries Board Member 0.2
Director
$0 $0 $0
Michele Heffernan Board Member 0.2
Director
$0 $0 $0
Dan Magnuszewski Board Member 0.2
Director
$0 $0 $0
Brenda McDuffie Board Member 0.2
Director
$0 $0 $0
Sean Moskal Chairman of Finance Committee 0.2
Officer Director
$0 $0 $0
Philip Nobel Board Member 0.2
Director
$0 $0 $0
Jeffrey Renzoni Board Member 0.2
Director
$0 $0 $0
Nena Rich Board Member 0.2
Director
$0 $0 $0
Sam Russo Board Member/Chairperson of the Board 0.2
Officer Director
$0 $0 $0
Franca Trincia Board Member 0.2
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $11,025,702 $10,453,501 $27,556,503 $572,201
2023 $8,691,259 $9,386,732 $26,875,141 $-695,473
2022 $6,895,666 $7,228,048 $23,417,551 $-332,382
2021 $9,359,091 $6,944,091 $26,101,769 $2,415,000
2020 $6,939,060 $7,407,374 $22,935,072 $-468,314
2019 $5,204,564 $7,227,288 $22,455,303 $-2,022,724
2018 $8,037,897 $7,462,126 $22,430,958 $575,771
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