BECKMAN RESEARCH INSTITUTE OF THE CITY OF HOPE

EIN: 953432210 501(c)(3) Medical Research

DUARTE, CA

Total Revenue
$285,315,317
Total Expenses
$382,452,556
Total Assets
$2,184,814,083
Net Assets
$1,199,895,574
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
CA
Phone
6262564673
Tax Period
2023-10-01 to 2024-09-30

BECKMAN RESEARCH INSTITUTE OF THE CITY OF HOPE, founded in 1979, is a major nonprofit in the Medical Research sector that reported $285.3M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $382.5M exceeded revenue, resulting in a 34% operating deficit.

Mission

THE SPECIFIC AND PRIMARY PURPOSE OF BECKMAN RESEARCH INSTITUTE OF THE CITY OF HOPE IS TO DIRECTLY ENGAGE IN THE ACTIVE CONDUCT OF MEDICAL RESEARCH. PLEASE SEE SCHEDULE O FOR A CONTINUATION OF OUR MISSION.

Program Service Accomplishments

Program 1
Expenses: $324,818,769 Revenue: $19,939,417

BIOMEDICAL RESEARCH AND DISEASE INVESTIGATIONS, INCLUDING DNA SYNTHESIS AND CELL ANALYSIS. BECKMAN RESEARCH INSTITUTE HAS PIONEERED SCIENTIFIC BREAKTHROUGHS RESULTING IN TREATMENTS THAT HAVE IMPROVED...

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BIOMEDICAL RESEARCH AND DISEASE INVESTIGATIONS, INCLUDING DNA SYNTHESIS AND CELL ANALYSIS. BECKMAN RESEARCH INSTITUTE HAS PIONEERED SCIENTIFIC BREAKTHROUGHS RESULTING IN TREATMENTS THAT HAVE IMPROVED THE LIVES OF PATIENTS WORLDWIDE. NUMEROUS LIFE-SAVING DRUGS USE PATENTED TECHNOLOGY DEVELOPED AT BECKMAN RESEARCH INSTITUTE. THESE DRUGS INCLUDE SYNTHETIC HUMAN INSULIN (HUMULIN) FOR DIABETES, THE WIDELY USED CANCER DRUGS HERCEPTIN, RITUXAN AND AVASTIN, AND HUMIRA FOR ARTHRITIS. RESEARCHERS AT BECKMAN RESEARCH INSTITUTE UNDERTAKE FUNDAMENTAL INVESTIGATIONS IN DIABETES PROGRESSION AND TREATMENT, IMMUNOLOGY AND IMAGING, INTERFERING RNAS AND HIV TREATMENT, TOTAL SYNTHESIS OF COMPLEX AND THERAPEUTIC NATURAL PRODUCTS, MECHANISMS OF DRUG ACTION, NEUROGENESIS, STEM CELL THERAPY, DNA REPAIR AND RADIATION, AND THE IMMUNOBIOLOGY OF VIRAL INFECTION. THEY HAVE ACHIEVED MAJOR ADVANCES IN RECOMBINANT DNA TECHNOLOGY, MONOCLONAL ANTIBODIES, GENE THERAPY, EPIGENETICS, SI-RNA TECHNOLOGY AND CANCER IMMUNOTHERAPEUTICS. A DEPARTMENT IN BECKMAN RESEARCH INSTITUTE IS DEDICATED TO UNDERSTANDING AND DEVELOPING TREATMENTS BASED ON CANCER'S INTERACTION WITH THE IMMUNE SYSTEM. OTHER RESEARCH HAS IDENTIFIED PROTEINS THAT MAY PLAY CRITICAL ROLES IN IMMUNE RESPONSE AND MAY LEAD TO NEW TREATMENT STRATEGIES. ANOTHER MAJOR EMPHASIS FOR THE BECKMAN RESEARCH INSTITUTE SCIENTISTS IS PERSONALIZED RESEARCH AND MEDICINE -- ANALYZING A PATIENT'S UNIQUE GENETIC PROFILE TO DEVELOP TAILORED THERAPIES FOR THEIR SPECIFIC DISEASE. ALL OF THIS RESEARCH IS UNIQUELY SUPPORTED BY ONSITE MANUFACTURING FACILITIES THAT CAN TEST AND PRODUCE QUANTITIES OF CELL-BASED, GENE-BASED AND MOLECULAR THERAPIES. THESE FACILITIES FURTHER SERVE AS RESOURCES FOR MEDICAL AND SCIENTIFIC RESEARCH CENTERS NATIONWIDE. BECKMAN RESEARCH INSTITUTE SCIENTISTS SERVE AS FACULTY MEMBERS IN CITY OF HOPE'S IRELL & MANELLA GRADUATE SCHOOL OF BIOLOGICAL SCIENCES. THE GRADUATE SCHOOL'S MISSION IS TO TRAIN STUDENTS TO BE OUTSTANDING RESEARCH SCIENTISTS IN CHEMICAL, MOLECULAR AND CELLULAR BIOLOGY. THE SCHOOL IS ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES. GRADUATES OF THE PROGRAM, AWARDED A DOCTORATE OF PHILOSOPHY IN BIOLOGICAL SCIENCES, ARE EQUIPPED TO ADDRESS FUNDAMENTAL QUESTIONS IN LIFE SCIENCES AND BIOMEDICINE FOR CAREERS IN ACADEMIA, INDUSTRY AND GOVERNMENT.

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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 $165,812,985
Program Service Revenue $19,939,417
Investment Income $83,859,993
Other Revenue $15,702,922
TOTAL REVENUE $285,315,317

Expense Breakdown

Grants Paid $1,633,728
Salaries & Benefits $215,680,736
Fundraising Expenses $97,952
Program Expenses $324,818,769
Other Expenses $165,138,092
TOTAL EXPENSES $382,452,556

Year-over-Year Comparison

2023 2022 Change
Revenue $285,315,317 $229,086,534 +0.2%
Expenses $382,452,556 $353,496,343 +0.1%
Net Income $-97,137,239 $-124,409,809 -0.2%
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

Financial Distress Indicator

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
10
Independent Members
9
Employees
1177
Volunteers
9

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
6
$10,266,180
Total Directors
10
$457,019
Key Employees
8
$10,537,370
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Steven B Fink Director & Chair of the Board 2.0
Officer Director
$0 $0 $0
Charlotte Hubbert PhD Director 2.0
Director
$0 $0 $0
Debbie C Thurmond Director/Professor 60.0
Director
$435,306 $21,713 $457,019
Emmet Stephenson Director 2.0
Director
$0 $0 $0
Julian Husbands MD Director 2.0
Director
$0 $0 $0
Norman Payson MD Director 2.0
Director
$0 $0 $0
Saro Armenian DO MPH Director/Professor 2.0
Director
$0 $0 $0
Selwyn Isakow Director 2.0
Director
$0 $0 $0
Stephanie Okey Director 2.0
Director
$0 $0 $0
Todd M Binder Director 2.0
Director
$0 $0 $0
Cristin J O'Callahan General Counsel & Corp Secretary 10.0
Officer
$186,671 $341,125 $1,472,464
Donald J Matthewson Assistant Treasurer 12.0
Officer
$125,464 $12,060 $639,380
Jo Ann Escasa-Haigh Chief Business Officer 12.0
Officer
$365,936 $150,513 $1,980,192
Robert W Stone President & CEO 4.0
Officer
$300,338 $1,667,332 $6,149,982
Yvette Tremonti Treasurer/Chief Financial Officer 10.0
Officer
$0 $24,162 $24,162
Ashley Baker Lee SVP, Research Operations 48.0
Key Emp
$872,074 $132,846 $1,222,938
David A Horne Vice Prvst & Depty Dir BRI & Dn Fac Aff 60.0
Key Emp
$914,413 $104,799 $1,019,212
David Craig Dep Dir, Integr Transltnl Sci 60.0
Key Emp
$428,774 $14,702 $443,476
Debra F Fields Exec VP & Chief Transformation Ofc 12.0
Key Emp
$340,881 $384,116 $2,088,520
John D Carpten Chf Sci Off, BRI Dir, Canc Ctr Dir 33.0
Key Emp
$571,428 $100,957 $1,139,917
Marcellus R Van Den Brink MD PhD Pres COH LA & NMC & Chf Phys Exec 6.0
Key Emp
$99,787 $157,403 $1,155,272
Mark Hulse Chief Digital Officer 12.0
Key Emp
$276,672 $42,307 $1,425,667
Steven Terry Rosen MD EVP, Dir Emeritus Comp Canc Ctr & BRI 54.0
Key Emp
$1,562,947 $305,760 $2,042,368
Edward S Kim Director, System Clin Trials 15.0
Highest
$396,461 $136,190 $1,722,035
Harlan Alcon Levine Pres, Hlth Innovation & Policy 11.0
Highest
$364,681 $403,546 $2,392,717
Kristin Bertell Chief Philanthropy Officer 2.0
Highest
$41,469 $314,901 $1,558,973
Larry Kwak Deputy Dir, Comp Cancer Ctr 60.0
Highest
$1,040,975 $51,025 $1,092,000
Vijay Trisal MD System Chief Clinical Officer 2.0
Highest
$37,057 $148,148 $1,259,854
Jennifer Parkhurst Former Officer 12.0
$312,857 $64,845 $1,629,131
Philip Okala FORMER OFFICER 12.0
$175,540 $14,345 $892,045
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 $285,315,317 $382,452,556 $2,184,814,083 $-97,137,239
2023 $229,086,534 $353,496,343 $1,946,470,774 $-124,409,809
2022 $288,276,013 $367,599,613 $1,755,270,549 $-79,323,600
2021 $339,177,936 $341,846,245 $1,995,828,082 $-2,668,309
2020 $266,229,786 $368,392,601 $1,692,642,628 $-102,162,815
2019 $568,398,026 $426,095,842 $1,556,201,710 $142,302,184
2018 $585,400,050 $433,936,266 $1,472,757,241 $151,463,784
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