2024-02-06T11:39:56-07:00 2023-06-30 990 2022-07-01 251462312 MAGEE-WOMENS RESEARCH INSTITUTE AND FOUNDATION MAGE 4126418957 3240 Craft Place Suite 100 Pittsburgh PA 15213 Michael Annichine CEO 4126418949 2023-11-30 Michael Annichine 999009999 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z Michael Annichine 3240 Craft Place Suite 100 Pittsburgh PA 15213 134437406 0 X www.mageewomens.org X 1984 PA See Schedule O 26 24 0 199 0 0 52285285 65287943 935335 780842 4128945 2650476 884041 29268 58233606 68748529 23764775 36563204 0 0 17852169 19642527 195000 270000 2956988 16313857 15468162 58125801 71943893 107805 -3195364 105422061 103774815 34369638 37515586 71052423 66259229 X The mission of Magee-Womens Research Institute and Foundation is to advance scientific knowledge in the fields of reproductive biology and medicine; translate this knowledge into improved health for women and infants; train current and future scholars of reproductive sciences; and foster community investment and involvement in women's health. 0 0 63342841 36563204 967859 See Schedule O 0 0 0 63342841 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 1 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 103 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 26 24 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X Timothy Bell Sr Director of Finance 4126418957 3240 Craft Place Suite 100 Pittsburgh PA 15213 Yoel Sadovsky Executive Director/Professor 92 X X 605555 0 83386 Michael Annichine CEO 40 X X 531736 0 47071 Pamela Moalli Professor 40 X 394164 0 44843 Gerald Schatten Professor 40 X 340596 0 59046 Sharon Hillier Professor 40 X 336725 0 42322 Kyle Orwig Professor 40 X 281277 0 40448 Hyagriv Simhan Professor 40 X 248631 0 31765 Theresa Bone Vice Chair 2.5 X X 0 0 0 Robert Edwards Director 1 X 0 0 0 Joan Ellenbogen Director 1 X 0 0 0 Margaret Joy Director 1 X 0 0 0 Arthur Levine Director 1 X 0 0 0 Linda S Melada Director 1 X 0 0 0 William Pietragallo Director 1 X 0 0 0 W Scott Sanford Director 1 X 0 0 0 Patricia Siger Director 1 X 0 0 0 Peggy Snavely Director 1 X 0 0 0 Richard Beigi Director 1 X 0 0 0 Tony Lacenere Director 1 X 0 0 0 Mary Richter Director 1 X 0 0 0 Fern Schwartz Director 1 X 0 0 0 Chad Tomosovich Director 1 X 0 0 0 Anantha Shekhar Director 1 X 0 0 0 David Spigelmyer Director 1 X 0 0 0 Marie Rivera-Johnson Director 1 X 0 0 0 K Scott Roy Director 1 X 0 0 0 Carrie Coghill Chair 2.5 X X 0 0 0 Kelly R Gray Vice Chair 2.5 X X 0 0 0 Jason Harrison Treasurer 2.5 X X 0 0 0 Susan McGalla Secretary 2.5 X X 0 0 0 Nicole Donnellan Director 1 X 0 0 0 2738684 0 348881 63 0 1 1 M J Brunner Inc 11 Stanwix Street 5th Floor Pittsburgh PA 15222 Marketing 603930 Clark Hill PLC 1 Oxford Centre 301 Grant St Floor 14 Pittsburgh PA 15219 Legal 587947 Pitch Consulting LLC 245 Tech Rd Pittsburgh PA 15205 Event Organizer 264118 Blackbaud 65 Fairchild Street Charleston SC 29492 Software 159065 Berardi Group 11 Banbury Lane Pittsburgh PA 15202 Marketing/Public Relations 145697 6 X 45148 0 133322 0 49812973 15296500 165197 65287943 Service Fee Revenue 541380 780842 780842 0 0 0 0 0 0 780842 1085641 0 0 1085641 0 0 0 0 0 0 0 0 187017 0 0 0 187017 0 187017 187017 0 0 66481790 21000 64936604 1351 1545186 19649 1564835 0 0 1564835 593173 133322 750922 -157749 0 -157749 0 68748529 967859 0 2492727 35433758 35433758 0 0 1129446 1129446 0 0 903797 405360 498437 14963006 11416117 2533694 1013195 3775724 2862793 645726 267205 613109 613109 70000 70000 270000 270000 275003 275003 1608080 890484 151718 565878 147112 7965 168 138979 534721 376376 26285 132060 435172 101875 172191 161106 2433050 2242842 108966 81242 901884 602741 151726 147417 82578 70358 12220 2032107 1972031 54020 6056 Lab equipment & maintenance 850583 850075 508 Medical research lab supplies 2778353 2738149 40204 Various lab testing and processing fees 1839101 1835892 3209 Fundraising expenses included in Part VIII -750922 0 0 -750922 1618231 406579 299100 912552 71943893 63342841 5644064 2956988 0 6826191 5071521 11354711 14552991 510495 577858 0 0 0 733842 790755 59783927 31206978 30262052 28576949 55734770 54204741 105422061 103774815 3742824 4235552 2549162 5770481 252726 227320 0 0 0 23752226 22643660 4072700 4638573 34369638 37515586 X 9943659 6708015 61108764 59551214 71052423 66259229 105422061 103774815 X -3195364 402170 0 0 0 -2000000 X 0 1 X 1 1 1 X 53188819 74404173 48929887 52285286 65287943 294096108 0 0 0 0 0 0 0 0 53188819 74404173 48929887 52285286 65287943 294096108 8108397 285987711 2090055 1830041 1532827 1765894 1272658 8491475 0 0 0 0 0 0 0 0 0 0 0 302587583 3538692 0.94514 0.94497 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25662604 19155 1256321 0 1257010 0 25681070 27700984 206117 -1732954 0 511543 0 25662604 24007033 107135 6885964 0 443804 2855344 27700984 24493623 122689 85849 0 695128 0 24007033 24137027 9875 883066 0 536345 0 24493623 0.0192 0.9459 0.0349 1 0 0 6188427 6188427 0 44437642 23611263 20826379 0 1262344 818441 443903 0 7732585 6777274 955311 0 162929 0 162929 28576949 0 0 Money Market 2909369 F Fixed Income 8205316 F Domestic Equity 9861650 F International Equity 7028859 F Real Estate 1000702 F Long/Short Return 44042 F Absolute Return 640345 F Alternative Investment 23539505 F Beneficial Interest in Trust 974953 F 54204741 0 Agency Funds held for Womens Auxillary 51607 Refundable Advance - Grants 4586966 4638573 68859770 402170 1233152 0 -2000000 -364678 69224448 275003 -750922 -475919 68748529 73652964 1233152 0 0 0 1233152 72419812 275003 -750922 -475919 71943893 Schedule D, Part V, Line 4 Endowments are used to carry out the mission of the Organization, i.e, to conduct medical research related to women's health and to support the operation of Magee-Womens Hospital of UPMC. Schedule D, Part X, Line 1 Advances received from Grantors or Grants and Awards are recognized as Refundable Advances-Grants, until conditions to revenue recognition are met. Such advances amounting to $4,586,966 are reported as Refundable Advances under Other Liabilities on Line 25 of the Balance Sheet (Part X). Schedule D, Part XI, Line 2d $2,000,000 in PPP loan proceeds Draw #2 recognized as revenue in prior years in audited financial statements have been included in current year's 990 revenue after obtaining loan forgiveness from SBA/Lender. Schedule D, Part XI, Line 4b Fundraising expense $750,922 netted off against revenue in Part VIII Line 8(b) on Form 990. Schedule D, Part XII, Line 4b Fundraising expenses of $750,922 reported as expense in audited financial statements but reported as a revenue offset in Part VIII Line 8(b) of Form 990. 1 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Bio-medical research 16000 East Asia and the Pacific 0 0 Grantmaking Bio-medical research 96046 Sub-Saharan Africa 0 0 Grantmaking Bio-medical research 1017400 0 0 1129446 North America (including Canada and Mexico, but not the United States) Biomedical Research 16000 Wire transfer East Asia and the Pacific Biomedical Research 96046 Wire transfer Sub-Saharan Africa Biomedical Research 54633 Wire transfer Sub-Saharan Africa Biomedical Research 81996 Wire transfer Sub-Saharan Africa Biomedical Research 125669 Wire transfer Sub-Saharan Africa Biomedical Research 233297 Wire transfer Sub-Saharan Africa Biomedical Research 241838 Wire transfer Sub-Saharan Africa Biomedical Research 277267 Wire transfer 8 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 All grants and assistance to foreign organizations relate to collaborative bio-medical research with the Organization. Each arrangement is formalized with a contract which includes specific terms and conditions that must be met. Recipients are required to submit a detailed accounting of all expenditures incurred under the contract. This is reviewed for contract compliance and appropriateness and only then cash is remitted to them as reimbursement. Each recipient organization is also required to submit annual reports of all research activities funded by the grant, together with the results of the research. This information is reviewed by the US scientist leading the research. X X X X X X X 1 Pitch Consulting LLC 245 Tech Road Pittsburgh PA 15205 Manage and coordinate all aspects of identified fundraising events including marketing, researching & developing partnership leads, and soliciting sponsorships. 0 245263 270000 -24737 245263 270000 -24737 AK AL AR CO CT FL GA HI ID IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV Women Who Rock PGH Concert 212428 13252 199176 0 0 18489 2927 0 58248 Womens Cancer 5k Run/Walk 163294 51744 111550 0 0 14011 684 0 55261 17 346078 66632 279446 0 0 46332 39368 0 491876 721800 131628 590172 0 0 78832 42979 0 605385 727196 -137024 Schedule G, Part I, Line 2b The contract with Pitch Consulting LLC specifies that the consultant will be paid a monthly retainer. Activities for which Pitch Consulting was paid this retainer are summarized in responses to Schedule G Part I Line 2b I. Any expenses incurred by Pitch Consulting specific to fundraising events organized by them are invoiced for reimbursement to MWRIF along with supporting documentation. Schedule G, Part II, Line 11 Activity recorded here related to specific fundraising events reflects only those expenses and revenue recorded during the tax year ended June 30, 2023, based on GAAP accounting guidelines. In some cases, revenue and expenses related to these specific events may be recorded either prior or after this fiscal year depending on timing and the associated GAAP guidelines. As a result, the net income shown here does not reflect the final net income for all the listed events. In addition, any contributions received related to the listed events is disclosed as required in Part VIII of the 990 and has been excluded from the above recap of the events. 1 Aids Vaccine Advocacy Coalition 244 Fifth Avenue Suite 2919 New York NY 10001 943240841 501(c)(3) 382036 Biomedical research Carnegie Mellon University 5000 Forbes Avenue WQED Building Pittsburgh PA 15213 250969449 501(c)(3) 20167 Biomedical research The Children's Hospital of Philadelphia 2716 South Street 17th floor RC 17264 Philadelphia PA 19146 231352166 501(c)(3) 422288 Biomedical research Cornell University 341 Pine Tree Road Ithaca NY 14850 150532082 501(c)(3) 400040 Biomedical research Denver Health & Hospital Authority 655 BROADWAY Denver CO 80203 841343242 115 8600 Biomedical research Duke University 2200 W Main Street Ste 710 Durham NC 27705 560532129 501(c)(3) 220045 Biomedical research Eastern Virginia Medical School 358 Mowbray Arch PO Box 1980 Norfolk VA 23501 546055378 501(c)(3) 3016164 Biomedical research Emory University 1599 Clifton Road Atlanta GA 30322 580566256 501(c)(3) 14421 Biomedical research Family Health International 359 Blackwell Street Suite 200 Durham NC 27701 237413005 501(c)(3) 67454 Biomedical research Florida State University 874 Traditions Way 3rd Floor Tallahassee FL 32306 591961248 501(c)(3) 98289 Biomedical research Fred Hutchinson Cancer Research Center 1100 Fairview Ave N MS-J6-500 Seattle WA 98109 237156071 501(c)(3) 3686366 Biomedical research Healthy Start Inc 400 N Lexington Avenue Pittsburgh PA 15208 251691864 501(c)(3) 183033 Participant recruiting for research study High Risk Obstetrical Consultants PLLC 1930 Alcoa Hwy Ste A435 Knoxville TN 37920 264483107 N/A 12086 Biomedical research International AIDS Vaccine Initiative 125 Broad Street 9th Floor New York NY 10004 133870223 501(c) 582104 Biomedical research International Partnership for Microbicides Inc 8405 COLESVILLE RD STE 600 Silver Spring MD 20910 010741733 501(c)(3) 30433 Biomedical research Johns Hopkins University 3910 Keswick Road N4327-B Baltimore MD 21211 520595110 501(c)(3) 433310 Biomedical research Morehouse School of Medicine Inc 720 Westview Drive SW Atlanta GA 30310 581438873 501(c)(3) 46934 Biomedical research Oak Crest Institute of Science 132 W Chestnut Avenue Monroiva CA 91016 954680961 501(c)(3) 2144355 Biomedical research Ohio State University 154 WEST 12TH AVE Columbus OH 43210 316025986 115 14500 Biomedical research Oregon Health & Science University 3181 SW Sam Jackson Park Rd L106OPAM Portland OR 97239 931176109 115 417762 Biomedical research PATH 2201 Westlake Avenue Suite 200 Seattle WA 98121 911157127 501(c)(3) 681388 Biomedical research Ponce Medical School Foundation Inc PO Box 7004 Ponce PR 00732 660379122 501(c)(3) 11597 Biomedical research The Population Council Inc One Dag Hammarskjold Plaza New York NY 10017 131687001 501(c)(3) 3962957 Biomedical research Public Health Institute 555 12th St Suite 600 Oakland CA 94607 941646278 501(c)(3) 398650 Biomedical research The RAND Corporation 1776 Main Street PO Box 2138 Santa Monica CA 90407 951958142 501(c)(3) 113763 Biomedical research Regents of the University of Michigan 3003 S State St Ann Arbor MI 48109 386006309 501(c)(3) 14468 Biomedical research Regents University of California Los Angeles 10920 Wilshire Blvd Ste 500 Los Angeles CA 90024 956006143 501(c)(3) 51945 Biomedical research Research Triangle Institute 3040 Cornwallis Road Research Triangle Park NC 27709 560686338 501(c)(3) 874698 Biomedical research San Diego State University Research Foundation 5250 Companile Drive San Diego CA 92182 956042721 501(c)(3) 7360 Biomedical research Sanford Burnham Prebys Medical Discovery Institute 10901 North Torrey Pines Road La Jolla CA 92037 510197108 501(c)(3) 9029 Biomedical research Seattle Institute for Biomedical & Clinical Research 1660 S Columbian Way SIBCR 116 MIRECC Seattle WA 98108 911452438 501(c)(3) 70681 Biomedical research Research Fdn for the State University of New York 211 UB Commons 520 Lee Entrance Amherst NY 14228 141368361 501(c)(3) 285679 Biomedical research Trustees of Boston College 140 Commonwealth Avenue 129 Lake - Room 440 Chestnut Hill MA 02467 042103545 501(c)(3) 25164 Biomedical research Tulane University 6823 Saint Charles Avenue New Orleans LA 70118 720423889 501(c)(3) 28628 Biomedical research The University of Texas MD Anderson Cancer Center 1515 Holcombe Blvd Houston TX 77030 746001118 501(c)(3) 518910 Biomedical research The Carl H And Edyth B Lindner Foundation PO Box 358 Cincinnati OH 45201 310738034 501(c)(3) 28650 Biomedical research University of Pittsburgh 4200 Fifth Avenue Pittsburgh PA 15260 250965591 501(c)(3) 11291388 Biomedical research University of Texas Southwestern Medical Center 5323 Harry Hines Blvd MC9029 Dallas TX 75390 726002868 501(c)(3) 48102 Biomedical research University of Alabama at Birmingham 1720 Second Ave South AB 1170 Birmingham AL 35294 636005396 501(c)(3) 60814 Biomedical research University of California San Diego 9500 Gilman Avenue La Jolla CA 92093 956006144 501(c)(3) 156801 Biomedical research The University of Chicago 5801 South Ellis Avenue Chicago IL 60637 322177139 501(c)(3) 20238 Biomedical research University of Colorado Denver 13001 E 17th Place Room W1124 Bldg 500 Grants and Contracts Aurora CO 80045 846000555 501(c)(3) 525136 Biomedical research University of Maryland Baltimore 620 Lexington Street 4th floor Baltimore MD 21201 526002033 501(c)(3) 33448 Biomedical research University of Minnesota 450 McNamara Alumni Center 200 Oak Street SE Minneapolis MN 55455 416007513 115 85277 Biomedical research University of Utah 201 S Presidents Circle Room 411 Salt Lake City UT 84112 876000525 501(c)(3) 35924 Biomedical research University of Washington 4333 Brooklyn Ave NE Seattle WA 98195 916001537 115 864509 Biomedical research Joan & Sanford I Weill Medical College of Cornell Univesity 1300 York Avenue New York NY 10065 131623978 501(c)(3) 111034 Biomedical research WV University Research Corporation 886 Chestnut Ridge Road 2nd Floor Morgantown WV 26506 550665758 501(c)(3) 11711 Biomedical research Xavier University of Louisiana 1 Drexel Drive New Orleans LA 70125 720635884 501(c)(3) 8876 Biomedical research Mount Sinai School of Medicine One Gustave L Levy Place Box 1642 Nbew York NY 10029 136171197 501(c)(3) 11586 Biomedical research Magee Womens Hospital of UPMC 300 Halket St Pittsburgh PA 15213 250965420 501(c)(3) 2886242 Program Support 50 1 Schedule I, Part I, Line 2 Each recipient of grant funding enters into a contract with MWRIF. The contract details allowable use of funds and includes budget of expenditures. Funds are released to recipients on a cost reimbursement basis. The recipient submits a report summarizing the expenses incurred which is compared by MWRIF personnel against budgets and terms of the contract before funds are released. X 1 1 X 0 0 0 0 0 0 0 1 0 Yoel Sadovsky Executive Director/Professor 452410 0 144625 0 8520 0 61863 0 21524 0 688942 0 0 0 Michael Annichine CEO 359037 0 160000 0 12699 0 28638 0 18433 0 578807 0 10764 0 Pamela Moalli Professor 394164 0 0 0 0 0 24000 0 20843 0 439007 0 0 0 Gerald Schatten Professor 340596 0 0 0 0 0 34800 0 24246 0 399642 0 0 0 Sharon Hillier Professor 286725 0 50000 0 0 0 34570 0 7752 0 379047 0 0 0 Kyle Orwig Professor 251416 0 29861 0 0 0 30586 0 9862 0 321725 0 0 0 Hyagriv Simhan Professor 198631 0 50000 0 0 0 24000 0 7765 0 280396 0 0 0 Schedule J, Part I, Line 1a Membership dues for the Duquesne Club, a private club located in Pittsburgh's downtown business district, were paid by MWRIF for Michael Annichine, CEO. The club's facility was used to host Board and Donor meetings and related events. Schedule J, Part I, Line 3 The Executive Director is dually employed by University of Pittsburgh and University of Pittsburgh Medical Center (UPMC). 100% of his time is spent either on his biomedical research or his executive director responsibilities, so MWRIF is financially responsible for his total compensation. Each of the three organizations are involved in evaluating the ED's compensation, taking into account accomplishments, responsibilities, and comparison to AAMC (American Association of Medical Colleges) benchmarks. The initial salary as well as subsequent adjustments must be approved by senior management of the University of Pittsburgh and UPMC and is also approved by select independent directors of the MWRIF Board. A written employment contract is used by both employers to document all employment terms including compensation. All paperwork regarding the process and approvals is maintained by respective organizations. The CEO's initial salary as well as subsequent adjustments are reviewed by UPMC and select independent directors of the MWRIF Board, taking into consideration qualifications, responsibilities, accomplishments, and a review of salaries for comparable positions in the marketplace. All related paperwork is maintained by UPMC. Since 100% of the CEO's time is spent in supporting the mission of MWRIF, MWRIF is responsible for the entire salary and any subsequent adjustments and incentives. Schedule J, Part I, Line 7 In addition to a base compensation from each employer, Dr. Sadovsky is eligible for incentive compensation as follows: A) UPMC-he is eligible for performance-based incentive compensation as part of his employment contract. Performance is evaluated against a list of predetermined goals and payment is made is the subsequent fiscal year. B) University of Pittsburgh- he is eligible for a research incentive based on certain criteria established by the University for all researchers. This is tied to his own research lab and is not related to his function as Executive Director of MWRIF. Pamela Moalli, Gerald Schatten, Sharon Hillier, Kyle Orwig, and Hyagriv Simhan are also eligible for the University of Pittsburgh research incentive mentioned above. The CEO, as an executive-level employee of UPMC, is eligible for an annual incentive award based on performance against predetermined standards which include their contribution to achievement of corporate goals, as well as achievement of individual performance goals. MWRIF is financially responsible for the entire cost of the incentives. X 5 162196 Quoted market price X Gift Cards/Store Vouchers 18 3001 Fair market value 0 1 0 Form 990, Part I, Line 1 Magee-Womens Research Institute (MWRI) is one of the the largest research institutes worldwide devoted exclusively to women's health research. Our mission is to advance knowledge in the field of reproductive sciences and women's health; to accelerate the translation of that research into practice and improved clinical outcomes; to train the next generation of scientists in the field; to change the world's thinking on women's health and its investment in women's health research; and to expand our worldwide collaborative research. We focus on seven areas of research, including reproductive endocrinology and infertility; reproductive development; pregnancy and newborn medicine; gynecology; infectious diseases; women's cancers and women's wellness and health services. Form 990, Part I, Line 5 (and Part V, Line 2a) - MWRIF doesn't have any employees of its own. All individuals who work in support of the mission of MWRIF are employed either by the University of Pittsburgh or the University of Pittsburgh Medical Center (UPMC). MWRIF is billed by each organization for the cost of salary and fringe benefits corresponding to the effort these individuals expend in support of the MWRIF mission. MWRIF records such costs as compensation on its financial statements. Payroll taxes are filed by the employer organizations. Form 990, Part III, Line 4a Magee-Womens Research Institute (MWRI) is one of the largest research institutes worldwide devoted exclusively to reproductive sciences and women's health research. MWRI is making discoveries and advancing knowledge in many areas affecting women including: reproductive biology and development, female cancer genomics and personalized therapies, HIV immunization and prevention, fertility preservation, and pelvic floor research. Through our revolutionary 9-90TM research, we focus on how pregnancy and fetal development can affect health and disease prevention for future generations. We firmly believe that new insights into the role of early human development in defining short- and long-term health and wellness will transform our understanding of disease development, treatment and prevention for future generations. Researchers concentrate on seven key areas of discovery: reproductive endocrinology and infertility (including ovarian biology, female and male germ cell development, infertility and restoration of fertility); reproductive development (including reproductive development, stem cell biology, germ cell development and differentiation and microbiome and development); pregnancy and newborn medicine (including prenatal genetics, feto-placental development, preterm birth, preeclampsia, newborn medicine); gynecology (including family planning, benign gynecological disorders, urogynecology and pelvic floor dysfunction); infectious diseases (including HIV and vaginal microbicides, reproductive tract infections, pharmaceutics and drug delivery); women's cancers (reproductive tract cancers); and women's wellness and health services outcomes (including patient-provider communication, substance use disorders, behavioral health and alternative medicine). Considering our depth and breadth, MWRI strives to advance scientific discovery and translate the results of scientific research into knowledge pertinent to women's health. To ensure the future of women's health research, MWRI has established educational programs at all levels of academic development, including opportunities for faculty and postdoctoral scholars as well as graduate and medical students, college students and high school students. MWRI hosts the Magee-Womens Research Summit, an international conference of physicians, researchers and corporate leaders focused on women's health. The centerpiece of the summit is the award of a $1 million prize for collaborative and transformative research within the reproductive sciences. Dedicated to solving real-world problems and improving lives today and for future generations as well as to coaching the next generation of scientists, MWRI is committed to a better, healthier world in which women's health has the scientific prominence and cultural status it deserves. Form 990, Part VI, Section A, Line 2 Directors Arthur Levine and Linda Melada have a family relationship. Form 990, Part VI, Section B, Line 11b The initial draft of Form 990, which is prepared by the Accounting Manager, is reviewed by the Director of Finance. It is then reviewed by a representative of MWRIF's external auditors Maher Duessel. After that, the Audit Committee, a sub-committee of the Board of Directors, reviews and provides a report to the Board. A copy of the Form 990 is provided to the full Board of Directors prior to filing with the IRS. Form 990, Part VI, Section B, Line 12c The organization has a conflict of interest policy that is driven by the classification of each individual as follows: Board members are required to sign a formal conflict of interest questionnaire annually prior to the beginning of each fiscal year for which they are a member. The forms are reviewed internally by the CEO and actual or potential conflicts are reported to the Board Chair. * Designated individuals (managers and above, and any employee holding a position of influence or trust) supporting MWRIF who are employed by UPMC are required to follow their employer mandated conflict of interest policy which includes annual electronic disclosures, as well as additional disclosures as related circumstances change. These are reviewed and monitored by the UPMC Ethics and Compliance Committee. If potential and actual conflicts are identified, a Conflict Management Plan must be developed and submitted to the Committee. Failure to disclose potential conflicts or to follow the approved conflict management plan will result in disciplinary action. * Designated individuals (all faculty, staff with administrator IV title or above and any others designated based on their responsibilities) working at MWRIF who are employees of the University of Pittsburgh are required to follow their employer mandated conflict of interest policy which includes annual electronic conflict of interest disclosures, as well as additional disclosures as related circumstances change. These are reviewed by the individual's department head and reported to University senior management as well as maintained by the Conflict of Interest Committee. Potential or actual conflicts are handled by the employees first line supervisor and a management plan developed. The plan is submitted to senior management as well as the COI committee for review. Sanctions may be applied for non-compliance with the requirements of the policy or with management plans, including a letter of reprimand, special monitoring of future work, removal from the particular project, probation, suspension, salary reduction, or initiation of steps leading to possible reduction in rank or termination of employment. Form 990, Part VI, Section B, Line 15 The Executive Director is dually employed by both University of Pittsburgh and the University of Pittsburgh Medical Center (UPMC). 100% of his time is spent on either his medical research (about 46 hours/week average) or on his Executive Director responsibilities (an additional 46 hours/week average), for an average total of 92 hours per week. MWRIF is financially responsible for his total compensation and it reimburses the University of Pittsburgh and UPMC for his compensation. Each of the three organizations are involved in evaluating the ED's compensation taking into consideration his accomplishments, responsibilities, and comparing against AAMC (American Association of Medical Colleges) benchmarks. The initial salary as well as any subsequent adjustments are approved by senior management of the University and UPMC and by selected external members of the MWRIF Board. All paperwork regarding the process and approvals is maintained by the respective organizations. The CEO's initial salary as well as any subsequent adjustments are reviewed by both UPMC and select independent directors of the MWRIF Board, taking into consideration accomplishments, responsibilities and a review of salaries for comparable positions in the marketplace. All related paperwork is maintained by UPMC. Since 100% of the CEO's time is spent in supporting the mission of MWRIF, MWRIF is financially responsible for the entire salary and any subsequent adjustments and incentives. Form 990, Part VI, Section C, Line 19 The Conflict of Interest Policy, governing documents, and financial statements are available at the Organization's business office located at 3240 Craft Place, Suite 100, Pittsburgh, PA 15213. Form 990, Part VIII, Line 6a The research conducted at MWRIF occurs in a facility located at 204 Craft Avenue. UPMC owns this building, and MWRIF is renting the space from them. Since the lease agreement with UPMC is long term (30 years), for accounting purposes it has to be recorded as a liability on MWRIF's books. This is the mortgage/note payable disclosed on Line 24 of Part X. The lease agreement does not contain any terms implying that MWRIF will ever own or have the option to buy the building. The rental income disclosed in Part VIII is generated by subleases between MWRIF and several research labs that are part of the University of Pittsburgh, allowing them to occupy a portion of the space MWRIF is renting from UPMC. These particular University of Pittsburgh researchers collaborate with MWRIF researchers on a regular basis on large biomedical research projects where physical proximity facilitates the collaborative process and allows them to meet, share equipment and other resources as needed to make the collaboration more efficient and hopefully more successful. The objective in renting the space to the University of Pittsburgh is to facilitate the collaboration, not to generate profit. So, the rental income disclosed in Part VIII is sublease income that offsets a portion of MWRIF's lease expense. MWRIF has no acquisition indebtedness which would require the rental income to be disclosed as unrelated business income. Form 990, Part XI, Line 9 PPP loan proceeds of $2,000,000 (Draw #2) forgiven by SBA/Lender during the year are included in 990 revenue but not in Financial Statements as they were already included in the Financial Statements in prior years when revenue recognition test was met.