2025-11-12T15:46:51-06:00 2024-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2024-01-01 741109630 TEXAS BIOMEDICAL RESEARCH INSTITUTE TEXA 2102589400 PO BOX 760549 SAN ANTONIO TX 78245 MR BRUCE EDWARDS EXECUTIVE VP, CFO 2102589400 2025-11-12 1 1 JOSEPHINE BEHREND P00715390 2108286281 2025-11-12 2024 2025-03-06 01:10:19Z MR BRUCE EDWARDS PO BOX 760549 SAN ANTONIO TX 78245 103250605 0 X WWW.TXBIOMED.ORG X 1941 TX TEXAS BIOMED IS PIONEERING AND SHARING SCIENTIFIC BREAKTHROUGHS THAT PROTECT YOU, YOUR FAMILIES AND OUR GLOBAL COMMUNITY FROM THE THREAT OF INFECTIOUS DISEASES. 31 30 549 0 0 0 76663106 68875011 3560145 1295876 1348231 3378655 1673358 1633803 83244840 75183345 534251 497338 0 0 41519097 48057699 0 0 948392 41709070 46093036 83762418 94648073 -517578 -19464728 246678578 366564882 95649136 224671517 151029442 141893365 TEXAS BIOMED IS PIONEERING AND SHARING SCIENTIFIC BREAKTHROUGHS THAT PROTECT YOU, YOUR FAMILIES AND OUR GLOBAL COMMUNITY FROM THE THREAT OF INFECTIOUS DISEASES. 0 0 11526116 857875 THE SOUTHWEST NATIONAL PRIMATE RESEARCH CENTER PROVIDES ANIMALS THAT SERVE AS RESOURCES TO THE RESEARCH OF TEXAS BIOMED AND OTHER NATIONAL INSTITUTES. IT ALSO CARRIES OUT RESEARCH ITSELF IN THE DEVELOPMENT OF ANIMALS AS A RESEARCH TOOL IN HUMAN DISEASES. 40259249 497338 1625470 TEXAS BIOMED PERFORMS RESEARCH ON INFECTIOUS DISEASES AND ASSOCIATED CHRONIC CONDITIONS THAT INCREASE SUSCEPTIBILITY TO INFECTION. THESE INCLUDE BASIC RESEARCH OF HOST AND PATHOGEN BIOLOGY, GENETICS, IMMUNOLOGY AND PHYSIOLOGY. 51785365 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 123 0 1 549 1 0 0 0 0 0 0 0 0 0 0 0 0 X 31 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO FL GA NM NY NC OH OK X EVA ZEPEDA 2102589400 PO BOX 760549 SAN ANTONIO TX 78245 DR JAMES JAMO RUBIN VICE CHAIRMAN 1.00 0.25 X X 0 0 0 DR C COLLINS ANDY ANDERSON III TRUSTEE 1.00 0.25 X 0 0 0 MR JAMES B JAMIE SMITH JR SECRETARY 1.00 0.25 X X 0 0 0 MR REX AMINI TRUSTEE 1.00 0.25 X 0 0 0 MR DAVID Q BATES JR TRUSTEE 1.00 0.25 X 98346 0 0 MR DAVID BOHNE TRUSTEE 1.00 0.25 X 0 0 0 MR CRAIG BOYAN CHAIRMAN 2.00 0.25 X X 0 0 0 MR ROBERT M BOBBY CAVENDER TRUSTEE 1.00 0.25 X 0 0 0 MR HENRY CISNEROS TRUSTEE 1.00 0.25 X 0 0 0 MR JOHN COWELL TRUSTEE 1.00 0.25 X 0 0 0 DR CRAIG FRANCES TRUSTEE 1.00 0.25 X 0 0 0 MRS ASHLEY HIXON TRUSTEE 1.00 0.25 X 0 0 0 MRS ABIGAIL G KAMPMANN TRUSTEE 1.00 0.25 X 0 0 0 MR JOHN C KERR TRUSTEE 1.00 0.25 X 0 0 0 DR MITCHELL KRONENBERG TRUSTEE 1.00 0.25 X 0 0 0 MRS CAROLYN H LABATT TRUSTEE 1.00 0.25 X 0 0 0 MR DAN MILLER TRUSTEE 1.00 0.25 X 0 0 0 MR LEWIS J LEW MOORMAN IV TRUSTEE 1.00 0.25 X 0 0 0 DR DACIA NAPIER TRUSTEE 1.00 0.25 X 0 0 0 DR GEORGE PEOPLES JR TRUSTEE 1.00 0.25 X 0 0 0 MR AL RAJWANI TRUSTEE 1.00 0.25 X 0 0 0 MRS CORINNA RICHTER TRUSTEE 1.00 0.25 X 0 0 0 MRS JENNA SAUCEDO-HERRERA TRUSTEE 1.00 0.25 X 0 0 0 MR JEFF SINNOTT TRUSTEE 1.00 0.25 X 0 0 0 MR LANE RIGGS TRUSTEE 1.00 0.25 X 0 0 0 MRS SHERYL SCULLEY TRUSTEE 1.00 0.25 X 0 0 0 MRS MARSHA M SHIELDS TRUSTEE 1.00 0.25 X 0 0 0 MR CHARLES CHUCK URSCHEL SLICK TRUSTEE 1.00 0.25 X 0 0 0 MR JOE STRAUS III TRUSTEE 1.00 0.25 X 0 0 0 MR JOHN B ZACHRY TRUSTEE 1.00 0.25 X 0 0 0 MS ALLISON ZELLER TRUSTEE 1.00 0.25 X 0 0 0 DR LARRY SCHLESINGER PRESIDENT, CEO 40.00 1.00 X 794181 0 67540 MR BRUCE EDWARDS EXECUTIVE VP, CFO 40.00 1.00 X 465009 0 74493 DR CORY HALLAM EXECUTIVE VP, ASI 40.00 X 341482 0 54714 MRS CORINNA ROSS DIRECTOR, SNPRC 40.00 X 291873 0 55006 MR JOHN MARTY HEANER JR VP, IT AND CTO 40.00 X 286062 0 49038 MRS REBECCA MADERE VP, HUMAN RESOURCES 40.00 X 288988 0 40769 MR MATT MAJORS VP, OPERATIONS 40.00 X 265861 0 55323 MRS SHELLEY COLE INTERIM VP, RESEARCH 40.00 X 241841 0 51150 DR DEEPAK KAUSHAL PROFESSOR (RESEARCH) 40.00 X 335813 0 55040 DR JORDI TORRELLES PROFESSOR (RESEARCH) 40.00 X 277278 0 33802 DR TIMOTHY ANDERSON PROFESSOR (RESEARCH) 40.00 X 270440 0 49069 DR RICARDO CARRION JR PROFESSOR (ASI) 40.00 X 260407 0 48282 DR EDWARD DICK JR PROFESSOR (VETERINARIAN) 40.00 X 262492 0 25064 4480073 0 659290 80 0 1 0 ALTERMAN INC PO BOX 700490 SAN ANTONIO TX 78270 ELECTRICAL CONSTRUCTION 5163226 SPAWGLASS CONTRACTORS INC 9331 CORPORATE DR SCHERTZ TX 78154 CONSTRUCTION 3854430 FISHER SCIENTIFIC PO BOX 404705 ATLANTA GA 30384 LAB SUPPLIES 2568705 JOERIS GENERAL CONTRACTORS LLC 823 ARION PARKWAY SAN ANTONIO TX 78216 CONSTRUCTION 1787961 FLAD & ASSOCIATES INC 644 SCIENCE DR MADISON WI 53711 ARCHITECT 1323947 79 1724990 61783690 5366331 68875011 RESEARCH CONTRACTS 541700 1295876 1295876 1295876 2564705 2564705 971262 971262 91145 618485 -527340 -527340 -527340 28258951 3774 27436947 11828 822004 -8054 813950 813950 MISC. REVENUE 541700 1189881 1187469 2412 1189881 75183345 2483345 0 3824989 497338 497338 3423329 1882830 1540499 34830044 19819706 14626195 384143 2625351 1699096 897152 29103 4614695 3110632 1455219 48844 2564280 1494389 1043845 26046 567341 20785 545684 872 162506 11920 150586 140013 140013 276283 276283 8675024 3981008 4386513 307503 298972 24868 251480 22624 873981 457675 384755 31551 3294346 270555 3021264 2527 2452993 3708 2449285 501118 292709 188952 19457 182390 107819 74571 4516096 10110 4505986 8092503 7528705 552967 10831 934401 934401 LAB/PROGRAM SUPPLIES 6619987 5272947 1347040 RESEARCH EXPENSES 4446624 4446624 REPAIRS 1667327 216405 1450222 700 SUBSCRIPTIONS 746811 242 704861 41708 1644320 218998 1402839 22483 94648073 51785365 41914316 948392 33128 25534 14115915 8956620 5088920 3426066 10862505 14587109 6634142 5583701 240089612 124920431 102272449 115169181 54903218 46904541 46765987 46643918 6002314 125268212 246678578 366564882 29477758 34840112 1406944 1679173 34182005 136447531 30052856 51661614 529573 43087 95649136 224671517 X 100490673 91985783 50538769 49907582 151029442 141893365 246678578 366564882 -19464728 10328651 0 X X 0 1 X 1 1 1 X 40525707 44658585 55301675 76663106 68875011 286024084 40525707 44658585 55301675 76663106 68875011 286024084 286024084 977682 1779436 2184818 2351277 3627112 10920325 437222 410571 856035 1145049 1189881 4038758 300983167 0.95030 0.95790 X PART II, LINE 10: OTHER INCOME REPRESENTS MISCELLANEOUS INCOME. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 1 41667 0 1 98346 140013 0 PART II-B, LINE 1: DIRECT CONTACT: TEXAS BIOMED HIRED PROFESSIONAL FIRMS TO LOBBY ON ITS BEHALF AT THE LOCAL, STATE, AND FEDERAL LEVELS. OTHER ACTIVITIES: TEXAS BIOMED HIRED CONSULTANTS TO IDENTIFY POTENTIAL STATE AND FEDERAL FUNDING OPPORTUNITIES. 0 10782355 X LEASED TO THE ARGYLE 0 84150003 218055 9728639 1453105 6201620 86441972 76330196 13361688 840709 4701172 84150003 96731628 -14283589 1138874 4978970 76330195 94621586 8422670 1184137 5128491 96731628 95221193 7295605 1493133 6402079 94621586 0.55090 0.44910 0.00000 0 1 1 2111843 2111843 164284642 98023555 66261087 53827336 26896876 26930460 19865791 19865791 115169181 ARES DIRECT SR LENDING FUND III 309345 F ARROWSTREET INVESTORS 2497762 F ARTISAN PARTNERS FUND 3446797 F BIOPHARMA CREDIT V 1694438 F BRECKINRIDGE CAPITAL 9390112 F D.E. SHAW 5830831 F HARDMAN JOHNSTON 4414917 F HIGHBRIDGE TACTICAL 1997131 F HUDSON BAY INT'L FUND 1137882 F NS PARTNERS EMERGING 2287290 F PIMCO FUND 1932550 F SILCHESTER 5991222 F VALINOR CAPITAL PART 63037 F WELLINGTON 5650604 F 46643918 FUNDS HELD IN TRUST BY OTHERS 122418085 RIGHT OF USE ASSET 28266 INVESTMENT IN EVESTRA 2821861 125268212 LEASE LIABILITY 43087 43087 X PART III, LINE 4: LAND, BUILDINGS, AND EQUIPMENT NOT USED IN THE RESEARCH OPERATIONS OF TEXAS BIOMED ARE IDENTIFIED SEPARATELY AND VALUED AT COST. CURRENTLY, THIS IS LIMITED TO PROPERTY LEASED TO THE ARGYLE CLUB (THE ARGYLE). THE ARGYLE IS A NONPROFIT ORGANIZATION OPERATED AS A SOCIAL WELFARE ORGANIZATION. MEMBERSHIP IN THE ARGYLE REQUIRES INITIAL AND ANNUAL CONTRIBUTIONS TO TEXAS BIOMED. TEXAS BIOMED LEASES A BUILDING, ITS CONTENTS, SURROUNDING LAND, AND A PARKING LOT TO THE ARGYLE FOR A MONTHLY RENTAL OF $6,000. PART V, LINE 4: THE PRIMARY INVESTMENT OBJECTIVE IS TO PRESERVE FINANCIAL ASSETS GENERATED THROUGH DONOR GIFTS, SO THAT THE PROCEEDS MAY BE DISTRIBUTED FOR THE PURPOSES INTENDED BY THE DONORS AND TO THE BENEFIT OF TEXAS BIOMED. THE BOARD OF TRUSTEES HAS ADOPTED A SPENDING FORMULA FOR DETERMINING THE MAXIMUM THAT CAN BE EXPENDED ANNUALLY, WHICH IS 4% OF THE TRAILING 12-QUARTER ROLLING AVERAGE VALUE OF THE ENDOWMENT FUNDS, COMPUTED ANNUALLY. THE BOARD TEMPORARILY INCREASED THE SPENDING FORMULA TO 5.75% FOR 2024. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY TEXAS BIOMED AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN. TEXAS BIOMED HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. TEXAS BIOMED IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 18237 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RESEARCH 49846 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 9824 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 13391 SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 19912 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTEMENTS 3135013 0 0 0 0 0 0 3246223 0 3246223 0 0 0 1 0 0 1 GRAD STUDENT STIPENDS & TUITION ASSISTANCE 19 497338 N/A N/A PART I, LINE 2: ALL INDIVIDUALS RECEIVING GRANTS WORK ONSITE AND ARE REVIEWED BY MANAGER WITH RESPONSIBILITY FOR THE GRANT PROGRAM. X X X 0 0 0 0 0 0 0 0 0 DR LARRY SCHLESINGER PRESIDENT, CEO 706657 0 83333 0 4191 0 50600 0 16940 0 861721 0 0 0 MR BRUCE EDWARDS EXECUTIVE VP, CFO 364626 0 99141 0 1242 0 50673 0 23820 0 539502 0 0 0 DR CORY HALLAM EXECUTIVE VP, ASI 295370 0 45000 0 1112 0 24150 0 30564 0 396196 0 0 0 DR DEEPAK KAUSHAL PROFESSOR (RESEARCH) 310667 0 23904 0 1242 0 27342 0 27698 0 390853 0 0 0 MRS CORINNA ROSS DIRECTOR, SNPRC 267472 0 23888 0 513 0 24197 0 30809 0 346879 0 0 0 MR JOHN MARTY HEANER JR VP, IT AND CTO 282498 0 0 0 3564 0 23423 0 25615 0 335100 0 0 0 MRS REBECCA MADERE VP, HUMAN RESOURCES 257983 0 29951 0 1054 0 23279 0 17491 0 329758 0 0 0 MR MATT MAJORS VP, OPERATIONS 265145 0 0 0 716 0 24763 0 30560 0 321184 0 0 0 DR TIMOTHY ANDERSON PROFESSOR (RESEARCH) 255468 0 11432 0 3540 0 24707 0 24362 0 319509 0 0 0 DR JORDI TORRELLES PROFESSOR (RESEARCH) 254343 0 21825 0 1110 0 22417 0 11385 0 311080 0 0 0 DR RICARDO CARRION JR PROFESSOR (ASI) 232303 0 27022 0 1082 0 24025 0 24256 0 308688 0 0 0 MRS SHELLEY COLE INTERIM VP, RESEARCH 239148 0 0 0 2693 0 22720 0 28430 0 292991 0 0 0 DR EDWARD DICK JR PROFESSOR (VETERINARIAN) 258952 0 0 0 3540 0 23350 0 1713 0 287555 0 0 0 PART I, LINE 3: THE EXECUTIVE COMMITTEE SERVES AS THE ENTITY THAT REVIEWS THE COMPENSATION OF THE CEO AND EVALUATES HIS PERFORMANCE. SALARY SURVEYS ARE USED AS A BASIS OF SALARY COMPARISON. A GREATER TEXAS CULTURAL EDUCATION FINANCE FACILITIES CORPORATION 273906171 39237QBU8 2024-07-23 103656294 SEE PART VI 0 0 0 B PUBLIC FINANCE AUTHORITY 273866124 74442PSZ9 2021-09-15 35458210 SEE PART VI 0 0 0 A 105008159 1293946 932888 6580495 96200831 0 0 0 1 B 36349742 890283 440996 17174211 17000000 844252 0 1 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 1 0 1 0 0 1 1 A 1 B 1 COLUMN A: PART I, LINE A, COLUMN F THE BONDS WERE ISSUED TO FINANCE OR REFINANCED CAPITAL IMPROVEMENTS ON THE BORROWER'S CAMPUS, TO PROVIDE CAPITALIZED INTEREST AND TO PAY COSTS OF ISSUANCE. COLUMN A: PART II, LINE 3 THE TOTAL PROCEEDS SHOWN IN PART II, LINE 3 DIFFERS FROM THE ISSUE PRICE SHOWN IN PART I, (E) DUE TO INTEREST EARNINGS ON INVESTED PROCEEDS. COLUMN A: PART III, LINE 7 AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE SECURITY OR PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY OR PAYMENT TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. COLUMN B: PART 1, LINE A, COLUMN F THE BONDS WERE ISSUED FOR THE PURPOSE OF CURRENT REFUNDING A LINE OF CREDIT WITH FROST BANK PURSUANT TO A LOAN AGREEMENT, DATED AUGUST 25, 2017 AND TO FINANCE CAPITAL IMPROVEMENTS ON THE BORROWER'S CAMPUS. COLUMN B: PART II, LINE 3 THE TOTAL PROCEEDS SHOWN IN PART II, LINE 3 DIFFERS FROM THE ISSUE PRICE SHOWN IN PART I, (E) DUE TO INTEREST EARNINGS ON INVESTED PROCEEDS. COLUMN B: PART IV, LINE 2B THE CURRENT REFUNDING PORTION OF THE BONDS MET THE 6 MONTH EXCEPTION TO REBATE. MR DAVID Q BATES JR TRUSTEE 98346 CONSULTING SERVICES AS A GOVERNMENTAL AFFAIRS LIAISON 0 FORM 990, PART VI, SECTION A, LINE 2 *MR. REX AMINI (TRUSTEE) HAS A BUSINESS RELATIONSHIP WITH MR. JOHN C. KERR (TRUSTEE). *MR. JAMES B. (JAMIE) SMITH, JR. (TRUSTEE) IS VICE CHAIR-TEXAS AT DYKEMA. TEXAS BIOMED HAS A BUSINESS RELATIONSHIP WITH DYKEMA. *MR. JOE STRAUS III (TRUSTEE) HAS A BUSINESS RELATIONSHIP WITH MR. JOHN B. ZACHRY (TRUSTEE). *MR. JOHN COWELL (TRUSTEE) HAS A BUSINESS RELATIONSHIP WITH MR. LEWIS J. (LEW) MOORMAN IV (TRUSTEE). FORM 990, PART VI, SECTION B, LINE 11B AFTER THOROUGH REVIEW AND APPROVAL OF THE FORM 990 BY THE AUDIT COMMITTEE, THE FORM WAS TRANSMITTED ELECTRONICALLY TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C STAFF GATHERS AND REVIEWS THE REQUIRED CONFLICT OF INTEREST DISCLOSURE FORMS FROM ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES. THE AUDIT AND COMPLIANCE COMMITTEE IS MADE AWARE OF ANY DISCLOSURES AND INITIATES ANY REQUIRED FOLLOW-UP. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES EXECUTIVE COMPENSATION. AT THE EXECUTIVE COMMITTEE MEETING WHERE THE BUDGET IS DISCUSSED, THE COMMITTEE ALSO DETERMINES ANY CHANGES IN COMPENSATION FOR THE UPCOMING YEAR FOR OFFICERS. THEY ARE PROVIDED WITH INFORMATION FROM SALARY SURVEYS AND THE PERFORMANCE EVALUATIONS OF THESE STAFF, WHERE APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND OTHER ORGANIZATIONAL DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE FINANCIAL STATEMENTS WERE AUDITED ON A CONSOLIDATED BASIS. THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE INSTITUTION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. TOM SLICK MEMORIAL TRUST FOR SW FDN FOR RSCH AND ED PO BOX 760549 SAN ANTONIO TX 782450549 237225475 OIL AND GAS REVENUES TO SUPPORT TEXAS BIOMED TX 501(C)(3) LINE 12B, II TEXAS BIOMEDICAL RESEARCH INSTITUTE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 TOM SLICK MEMORIAL TRUST FOR SW FDN FOR RSCH AND ED C 1724990 ACTUAL COST