Cedars Sinai Intellectual Property Company

Nonprofit profile at a glance

EIN
871097792
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Los Angeles, CA, USA
Phone
3104233277
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Medical Research N.E.C.

Reported finances

Revenue
$9,424,010
Expenses
$8,576,015
Assets
$175,260,138
Liabilities
$16,074,215

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • JAMES D LAUR (PRESIDENT AND DIRECTOR)

Highest reported compensation

  • SHLOMO MELMED (DIRECTOR): $3,872,673 total reported compensation
  • DAVID M WRIGLEY (TREASURER AND DIRECTOR): $3,169,609 total reported compensation
  • JAMES D LAUR (PRESIDENT AND DIRECTOR): $1,864,150 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cedars sinai intellectual property company ("csip") is organized and operated exclusively for charitable purposes. Csip's specific purpose is to support and benefit cedars-sinai medical center ("csmc") through(see schedule o for continuation)(continued)the management and licensing of intellectual property assets derived from csmc's research activities including development of early-stage companies that license and develop csmc intellectual property.

What it reported doing in 2024

Csip is organized and operated exclusively for charitable purposes within the meaning of section 501(c)(3) of the internal revenue code. Csip's program services include the following activities:1) educate the faculty and research staff at csmc about the basic principles of intellectual property protection;2) capture new technologies and discoveries made at csmc, and secure the appropriate intellectual property protection for the technologies and discoveries;(continued on schedule o)(continued)3) evaluate the potential of the technologies and discoveries for further development into products and services that could have a positive impact on illness or disease, unmet health needs, or health care delivery;4) support further development of the technology to create the potential for it to become a product or service benefiting the community as a whole; 5) develop and maintain a network of researchers and technology professionals in academic institutions and industry that can collaborate to support early-stage discoveries made through csmc biomedical research; 6) identify commercial partners to license the intellectual property or support the development of the technology by new companies created for that purpose;7) advise and invest in early-stage companies that license the intellectual property or partner with csmc to develop the technology; and,8) manage the relationships with licensees, and companies in csip's investment portfolio.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - A large share of available resources goes toward mission work and revenue comfortably covers expenses. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 43
  • Accountability: 23
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.9%; rating input score 64
  • Program expense ratio: 98.2%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 20.44; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 20.4%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 38.3% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -38.7% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 63.9% of revenue deployed · 98.2% of spending went to programs
  • Governance: 0 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.4M in reported program spending
  • Leadership: top reported pay $3.9M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 27 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.