2023-11-15T13:09:01-06:00 2022-12-31 221478099 COHNREZNICK LLP 2401 NW BOCA RATON BLVD BOCA RATON FL 334316632 990 2022-01-01 270843891 RECEPTIONS FOR RESEARCH THE GREG OLSEN FOUNDATION RECE 4074014534 200 E LAS OLAS BLVD STE 1550 FT LAUDERDALE FL 33301 GREG OLSEN FOUNDER 4074014534 2023-11-13 1 GREG OLSEN 999009999 0 ARTHUR J HURLEY P00440692 5613671040 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z GREG OLSEN 200 E LAS OLAS BLVD STE 1550 FORT LAUDERDALE FL 33301 1709621 0 X RECEPTIONSFORRESEARCH.ORG X 2009 FL PROVIDE THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED WITH DEBILITATING DISEASES. 10 9 0 50 0 0 742846 1081100 0 0 0 0 23736 147790 766582 1228890 2500 330000 0 0 31076 132603 0 0 14075 112919 106817 146495 569420 620087 659470 245684 536599 990000 621445 -744316 -84846 X THE GREG OLSEN FOUNDATION WAS ESTABLISHED IN 2009 TO PROVIDE HOSPITALS, DOCTORS AND SCHOLARS THE RESOURCES NECESSARY TO ENHANCE THE LIVES OF THOSE AFFECTED BY VARIOUS FORMS OF CANCER AND CARDIOVASCULAR DISEASES OR DISORDERS. WE PARTNER WITH LOCAL AND NATIONAL ORGANIZATIONS IN OUR PURSUIT TO DISCOVER A CURE FOR THESE DEBILITATING DISEASES. IT'S OUR GOAL TO MAKE SURE EVERYONE HAS A SECOND CHANCE IN LIFE. 0 0 33530 25000 HEARTWORKS WAS CREATED IN JUNE, 2020 TO ACCELERATE AND EXPAND THE PRODUCT DEVELOPMENT PIONEERED BY THE TODD AND KAREN WANEK FAMILY PROGRAM FOR HYPOPLASTIC LEFT HEART SYNDROME (HLHS), FOUNDED AT MAYO CLINIC IN 2010. THE HLHS PROGRAM HAS FORMED A NATIONWIDE RESEARCH CONSORTIUM AND DEVELOPED CELL-BASED THERAPEUTICS TO TREAT CHD, SOME OF WHICH ARE CURRENTLY IN CLINICAL TRIALS. THE HLHS PROGRAM'S TEAM OF PHYSICIANS, SCIENTISTS, AND ENGINEERS HAVE A COMBINED AVERAGE OF NEARLY 30 YEARS OF EXPERIENCE ACROSS THEIR RESPECTIVE DISCIPLINES AND HAVE FOCUSED THIS EXPERTISE ON TREATMENTS FOR THE MOST SEVERE FORMS OF CHD, THEREBY FURTHERING ADVANCED RESEARCH IN GENETICS, STEM CELL BIOLOGY, CLINICAL TRIALS, AND CELL-BASED MANUFACTURING. THE TEAM DEVELOPED A PLATFORM THAT ENABLES MULTIPLE CELL-BASED CLINICAL TRIALS TO BE CONDUCTED SIMULTANEOUSLY IN COLLABORATION WITH A CONSORTIUM OF WORLD CLASS MEDICAL INSTITUTIONS. HEARTWORKS WILL EXPAND THE HLHS PROGRAM PRODUCT PIPELINE AND GROW ITS ECOSYSTEM OF PARTNERS TO SCALE UP DEVELOPMENT OF NEW CHD THERAPIES, CLINICAL TRIALS, AND PRODUCT LAUNCHES.OUR ECOSYSTEM IS A CRITICAL COMPONENT OF OUR SUCCESS. ALL OF OUR PARTNERS BELIEVE IN AND ACTIVELY SUPPORT OUR VISION OF TRANSFORMATIVE PRODUCT DEVELOPMENT FOR THE CHD COMMUNITY. WE WILL ENGENDER TRUST WITH OUR BENEFACTORS, CHD CHILDREN AND FAMILIES, AND PARTNER INSTITUTIONS BY SHARING DATA AND OUTCOMES AT A LEVEL NOT POSSIBLE BEFORE WITHIN INDIVIDUAL INSTITUTIONS. WE WILL SHARE OUR SUCCESSES TOGETHER. 409071 305000 THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (MUSC) FOUNDATION WAS CHARTERED IN 1966 AS A CHARITABLE, EDUCATIONAL FOUNDATION TO SUPPORT THE EDUCATION, RESEARCH, PATIENT CARE AND OTHER PROGRAMS AT THE MEDICAL UNIVERSITY. THE FOUNDATION IS A 501(C)(3) TAX-EXEMPT ORGANIZATION, CONTRIBUTIONS TO WHICH ARE TAX-DEDUCTIBLE.SINCE ITS BEGINNING, THE MUSC FOUNDATION HAS ENCOURAGED SUCH WORTHWHILE ACADEMIC ENTERPRISES AS ENDOWED PROFESSORSHIPS, SCHOLARSHIPS, THE ACQUISITION AND DEVELOPMENT OF CAMPUS FACILITIES TO SERVE STUDENT, TEACHING, RESEARCH OR CLINICAL NEEDS, AND AWARDS IN HONOR OF ACADEMIC EXCELLENCE. IN ADDITION, IT HAS ENCOURAGED ACHIEVEMENTS IN BIOMEDICAL RESEARCH. IN MAY 2019, THE FOUNDATION EXECUTED A GIFT & NAMING RIGHTS AGREEMENTWITH ATRIUM HEALTH, WHERE THE FOUNDATION PLEDGED $2,500,000 INYEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2019. IN 2022, RECEPTIONS FOR RESEARCH PAID THE $500,000 OBLIGATION TO ATRIUM HEALTH. 442601 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 FL NC X X THE ORGANIZATION 4074014534 200 E LAS OLAS BLVD STE 1550 FT LAUDERDALE FL 33301 GREGORY W OLSEN FOUNDER/CHAIRMAN 15.00 X X 0 0 0 KARA OLSEN C-FOUNDER 5.00 X X 0 0 0 SUSAN OLSEN DIRECTOR OF COMMUNITY OUTR 5.00 X 0 0 0 DEBORAH DOOLEY CONTROLLER 10.00 X 12000 0 0 KRISTEN MCCULLOUGH DIRECTOR OF COMMUNICATIONS 5.00 X 0 0 0 DONALD ROBBINS BOARD MEMBER 5.00 X 0 0 0 AMY LEVINE DAWSON BOARD MEMBER 5.00 X 0 0 0 DOUG PORTER BOARD MEMBER 5.00 X 0 0 0 JOSE ARMARIO BOARD MEMBER 5.00 X 0 0 0 MOLLY ANSBRO EXECUTIVE DIRECTOR 40.00 X 120350 0 0 132350 0 0 1 0 0 0 0 565205 515895 1081100 602505 565205 460122 142383 142383 26016 20609 5407 5407 1228890 5407 0 142383 330000 330000 132603 106083 13260 13260 23854 23854 20216 20216 13473 13473 8148 6518 815 815 36802 36802 4324 4324 569420 442601 112744 14075 180077 147992 302000 63000 27545 2607 0 59062 245684 536599 72250 990000 549195 990000 621445 X -744316 -84846 -744316 -84846 245684 536599 659470 0 X 0 0 0 X 776240 654258 553897 573684 1081099 3639178 776240 654258 553897 573684 1081099 3639178 276716 300966 405000 293779 331000 1607461 0 276716 300966 405000 293779 331000 1607461 2031717 776240 654258 553897 573684 1081099 3639178 0.55830 0.52370 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 OPERATING LEASE, RIGHT-OF-USE ASSET, NET 59062 59062 UNCONDITIONAL PROMISES TO GIVE 490000 OPERATING LEASE LIABILITY, CURRENT PORTION 32709 OPERATING LEASE LIABILITY, LESS CURRENT PORTION 26486 549195 X PART X, LINE 2: THE FOUNDATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICES ("IRS") AS AN ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS FURTHER CLASSIFIED AS A PUBLIC CHARITY UNDER IRC SECTION 509(A)(2). NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. FURTHERMORE, THE FOUNDATION BELIEVES THAT IS HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THREE (3) YEARS FROM THE DATE OF FILING. PART XI, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES X 0 GOLF TOURNAMENT 842494 401494 441000 7484 5000 88672 30405 232967 STEAK 48 UNGALA 149418 21418 128000 4970 5951 25653 3 175798 142293 33505 1500 15890 250 700 40680 1167710 565205 602505 13954 26841 88922 31105 299300 460122 142383 FORM 990, LINE 13 IN MAY 2019, THE FOUNDATION EXECUTED A GIFT & NAMING RIGHTS AGREEMENT WITH ANOTHER ORGANIZATION, WHERE THE FOUNDATION PLEDGED $2,500,000 IN YEARLY INSTALLMENTS OF $500,000, WITH PAYMENTS COMMENCING IN 2019. IN 2022, THE $500,000 WAS PAID IN ADDITION TO THE $330,000 GRANTS MADE TO OTHER ORGANIZATIONS. THEREFORE, THE TOTAL CASH BASIS GRANTS AND SIMILAR AMOUNTS PAID WERE $830,000. FORM 990, PART VI, SECTION A, LINE 2 KARA OLSEN, BOARD CHAIR (WIFE TO FOUNDER); SUE OLSEN, DIRECTOR (MOTHER TO FOUNDER, MOTHER TO EXECUTIVE DIRECTOR); KRISTEN MCCOLLOUGH, DIRECTOR OF COMMUNICATIONS (FOUNDER'S SISTER IN-LAW). FORM 990, PART VI, SECTION B, LINE 11B DISTRIBUTED TO BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION REQUIRES THAT POTENTIAL CONFLICTS OF INTEREST BE DISCLOSED ANNUALLY AND ON AN ONGOING BASIS. FORM 990, PART VI, SECTION C, LINE 19 ANY REQUEST FOR THE DOCUMENTS WILL BE HONORED.