Cause IQ organization profile

Howard Hughes Medical Institute

Howard Hughes Medical Institute is a biological research center based in Chevy Chase, MD that was founded in 1953. As of 2018 they had $1.5 billion in revenue and $23 billion in assets.

The howard hughes medical institute ("institute" or "hhmi") is the nation's largest private academic biomedical research institution, with just under $19 billion in net assets at the end of its 2014 fiscal year. The mission of the institute has remain...

Previous legal names or variations of their name include: Howard Hughes Med Inst; and Stephen Jasko.

EIN:

59-0735717

City:

Chevy Chase

State:

Maryland

Metro:

Washington-Arlington-Alexandria, DC-VA-MD-WV

NTEE:

U50: Biology and life sciences research centers

Website:

hhmi.org

Phone:

(301) 215-8500

Type:

501(c)(3)

Revenue:

$1,527,324,317

Assets:

$23,816,259,445

Employees:

3,161

Fiscal year end:

August

Founded:

1953

Revenue trends:

Asset trends:

Form 990s for Howard Hughes Medical Institute

Fiscal year ending	Date received by IRS	Form	PDF link
2018-08	May 14, 2019	990	View PDF
2017-08	Jun 14, 2018	990	View PDF
2016-08	Sep 7, 2017	990	View PDF
2014-08	May 27, 2015	990	View PDF
2013-08	Apr 30, 2014	990	View PDF
...and three more Form 990 PDFs

Financials for Howard Hughes Medical Institute

Field	2018	2017	% Change
Federated campaigns	$0	$0
Membership dues	$0	$0
Fundraising event contributions	$0	$0
Related organizations	$0	$0
Government grants (contributions)	$0	$0
Normal grants, contributions, etc.	$3,169,402	$961,418	229.7%
Non-cash contributions	$0	$0
Program services	$2,780,883	$2,593,242	7.2%
Investment income and dividends	$178,353,858	$192,721,183	-7.5%
Tax-exempt bond proceeds	$0	$0
Royalty revenue	$15,163,416	$21,446,583	-29.3%
Net rental income	$-1,063,375	$-821,903	-29.4%
Net gain from sale of non-inventory assets	$1,328,314,168	$1,332,884,531	-0.3%
Net income from fundraising events	$0	$0
Net income from gaming activities	$0	$0
Net income from sales of inventory	$0	$0
Miscellaneous revenues	$605,965	$762,837	-20.6%
Total revenues	$1,527,324,317	$1,550,547,891	-1.5%

Field	2018	2017	% Change
Grants to govts. and orgs. in USA	$64,573,391	$51,079,820	26.4%
Grants to individuals in USA	$11,190,640	$8,803,923	27.1%
Grants to govts., orgs., and individuals outside USA	$0	$34,875,000	-100%
Benefits paid to or for members	$0	$0
Compensation of current officers, etc.	$10,751,771	$10,536,023	2.0%
Compensation not included above, to disqualified persons	$636,357	$1,592,293	-60.0%
Non-officer salaries and wages	$265,272,322	$265,167,113	0.0%
Pension/retirement accruals and contributions	$20,419,358	$22,292,801	-8.4%
Other employee benefits	$-3,109,363	$88,149,078	-103.5%
Payroll taxes	$16,073,338	$17,283,925	-7.0%
Management fees	$0	$0
Legal fees	$3,018,649	$3,452,762	-12.6%
Accounting fees	$1,111,134	$959,641	15.8%
Lobbying fees	$71,177	$15,000	374.5%
Pro. fundraising fees	$0	$0
Investment mgmt fees	$81,318,615	$69,931,386	16.3%
Other fee-for-service	$51,366,077	$44,488,346	15.5%
Advertising and promotion	$0	$0
Office expenses	$3,080,852	$3,821,547	-19.4%
Information tech. expenses	$8,368,967	$8,021,641	4.3%
Royalty expenses	$6,371	$5,331	19.5%
Occupancy	$70,759,962	$74,004,149	-4.4%
Travel	$8,505,409	$8,071,498	5.4%
Public official travel and entertainment	$0	$0
Conferences, meetings, etc.	$3,337,554	$3,216,060	3.8%
Interest	$80,743,322	$78,550,828	2.8%
Payments to affiliates	$0	$0
Depreciation, amortization, etc.	$77,865,561	$80,354,035	-3.1%
Insurance	$538,631	$396,982	35.7%
All other expenses	$149,818,618	$168,384,739	-11.0%
Total expenses	$925,718,713	$1,043,453,921	-11.3%

Field	2018	2017	% Change
Cash (non-interest-bearing)	$0	$0
Savings, short-term investments, etc.	$856,180,834	$313,788,984	172.9%
Pledges and grants receivable	$0	$0
Accounts receivable	$0	$0
Loans receivable from officers, directors, etc.	$0	$0
Loans receivable from other disqualified persons	$0	$0
Notes and loans receivable	$0	$0
Inventories for use	$0	$0
Prepaid expenses and deferred charges	$5,146,926	$10,916,217	-52.9%
Buildings, equipment, etc. post-depreciation	$684,464,662	$711,920,998	-3.9%
Investments, publicly traded securities	$6,483,770,458	$7,234,725,303	-10.4%
Investments, other securities	$15,601,402,134	$14,044,326,015	11.1%
Investments, program-related
Intangible assets	$0	$0
Other assets	$185,294,431	$278,738,241	-33.5%
Total assets	$23,816,259,445	$22,594,415,758	5.4%

Field	2018	2017	% Change
Accounts payable and accrued expenses	$469,669,342	$503,181,931	-6.7%
Grants payable	$157,321,012	$173,350,134	-9.2%
Deferred revenue	$0	$0
Tax-exempt bond liabilities	$716,130,000	$716,130,000
Escrow or custodial account liability	$0	$0
Loans payable to officers and disqualified persons	$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0
Unsecured notes and loans payable to unrelated third parties	$1,236,233,081	$1,235,453,517	0.1%
Other liabilities	$867,546,779	$657,102,151	32.0%
Total liabilities	$3,446,900,214	$3,285,217,733	4.9%

Field	2018	2017	% Change
Unrestricted net assets	$20,369,359,231	$19,309,198,025	5.5%
Temporarily restricted net assets	$0	$0
Permanently restricted net assets	$0	$0

Social media

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Vendors for Howard Hughes Medical Institute

Vendor	Services	Amount paid	Date
Pricewaterhousecoopers LLP	Tax accounting; Audit accounting		2019-05-03
███████ ████████ ███████	Conference Ctr Management	$4,601,029	2018-08-01
███████████ ██████████	Investment Management	$3,004,003	2018-08-01
████ ██████ ███████ ███ ███ ████ ████ ██ ████	Investment Management	$6,196,565	2018-08-01
█████ ████ ███████ ████████ ███	Facilities Management	$2,637,478	2018-08-01
██████ ██████ █████	Investment Management	$4,078,681	2018-08-01
██████	Content management system software		2018-05-07
█████████	Marketing software		2018-05-07
...and 12 more vendors

Personnel at Howard Hughes Medical Institute

Name	Title	Compensation	Most recent data
Erin O'Shea	President	$591,858	July 17, 2019
Joanne Theurich	Chief of Operations Services	-	June 13, 2019
██████ █████████	Vice President and Chief Investment Officer	$2.8 million	July 17, 2019
███████ █████	Chief Financial Officer and Treasurer	-	July 17, 2019
███████ ██ █████	Chief of Communications	-	July 17, 2019
████ ██ █████	Chief of Staff	-	July 17, 2019
██████ ██████	Chief of People and Culture	-	July 17, 2019
████ ██████ ███	Chief of Strategic Initiatives	-	July 17, 2019
████ █████████	Chief of Business Solutions	-	July 17, 2019
█████ ███████	Vice President and Chief Scientific Officer	-	July 17, 2019
...and seven more key personnel

Peer biology and life sciences research centers

	Name	Type	Revenue	Location
1	Battelle Memorial Institute	501(c)(3)	$4.9 billion	Columbus, OH
2	Research Foundation of The City University of New York (RFCUNY)	501(c)(3)	$548 million	New York, NY
3	SRI International	501(c)(3)	$405 million	Menlo Park, CA
4	Research Triangle Institute (RTI)	501(c)(3)	$978 million	Research Triangle Park, NC
5	Henry M Jackson Foundation For The Advancement of Military Medicine	501(c)(3)	$527 million	Bethesda, MD
6	The Leukemia and Lymphoma Society	501(c)(3)	$438 million	Rye Brook, NY
7	Beckman Research Institute of the of the City of Hope (BRI)	501(c)(3)	$499 million	Duarte, CA
8	The Broad Institute	501(c)(3)	$447 million	Cambridge, MA
9	Fred Hutchinson Cancer Research Center (FHCRC)	501(c)(3)	$550 million	Seattle, WA
10	Musculoskeletal Transplant Foundation (MTF)	501(c)(3)	$422 million	Edison, NJ
11	American Cancer Society / National Home Office	501(c)(3)	$788 million	Atlanta, GA
12	Jhpiego Corporation	501(c)(3)	$400 million	Baltimore, MD
13	University of Toronto	501(c)(3)	$2.6 billion	Canada,
14	Southwest Research Institute	501(c)(3)	$537 million	San Antonio, TX
15	Massachusetts Institute of Technology (MIT)	501(c)(3)	$4.4 billion	Cambridge, MA
16	Oxford University	501(c)(3)	$2.3 billion	United Kingdom,
17	Financial Industry Regulatory Authority (FINRA)	501(c)(6)	$1.3 billion	Rockville, MD
18	The Rockefeller University	501(c)(3)	$496 million	New York, NY
19	Duke University Health System	501(c)(3)	$3.3 billion	Durham, NC
20	Fhi 360	501(c)(3)	$767 million	Durham, NC
21	The College Board	501(c)(3)	$1.0 billion	New York, NY
22	Smithsonian Institution (SI)	501(c)(3)	$1.4 billion	Washington, DC
23	The Common Fund for Nonprofit Organizations	501(c)(3)	$436 million	Wilton, CT
24	Duke University	501(c)(3)	$3.1 billion	Durham, NC
25	Metropolitan Museum of Art	501(c)(3)	$574 million	New York, NY

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