Howard Hughes Medical Institute

What it reported doing in 2024

Medical research organization activities the hhmi investigator program the howard hughes medical institute's approach to biomedical research can be summarized in three words: people, not projects. This commitment is reflected in the hhmi investigator program. Rather than awarding research grants, this program employs scientists, providing them with long-term, flexible funding that they may use to pursue their scientific interests. Hhmi believes that scientists of exceptional talent and imagination will make fundamental discoveries of lasting scientific value andthatbenefithuman healthif they are given the resources, time, and freedom to pursue challenging questions. Hhmi investigators receive a seven-year appointment, which isrenewablepending favorable scientific review. Among the more than265 current hhmi investigators, 16 arenobel laureates andnearly150aremembers of the national academy of sciences. Hhmi investigators direct hhmi research laboratorieslocatedon the campuses ofmore than 55hospitals, universities, and other researchinstitutionsthroughout the united states. Since the early 1990s, investigators have been selected through rigorous national competitions. The institutesolicitsapplications directly from scientists at research institutions in the united states, with the aim ofidentifyingthose who have the potential to make significant contributions to science. Hhmi employs an open application process to ensure that it selects its researchers from a broad and deep pool of scientific talent. Janelia research campus hhmi's janelia research campus in ashburn, Virginia, innovates research practices, tools, and technologies to solve biology's deepest mysteries. At janelia, integrated teams of lab scientists and tool-builders pursue a small number of key scientific questions with the potential for transformative impact. To drive science, these discoveries are shared openly with the scientific community. In fy24, hhmi announced ai@hhmi, a 10-year, $500 million investment to support ai-driven projects and embed ai systems throughout every stage of the scientific process. In fy25, the institute announced six ambitious ai projects spearheaded by both hhmi investigators and janelia group leaders. In the current fiscal year, there were27group leaders,16senior group leaders, and8janelia scholars at janelia, in addition to graduate students, postdocs, and visiting scientists. Janelia also hosts a vibrant scientific conference program, which brings many scientists to its campus each year for educational meetings. The freeman hrabowski scholars program the freeman hrabowski scholars program supports outstanding early career basic researchers who have strong potential to become leaders in their fields. Scholars prioritize scientific excellence in their own research while creating lab climates in which everyone can thrive. Like hhmi investigators, scholars are employees of the institutebased at hospitals, universities, and other research institutes in the united states, andareprovided with long-term, flexible funding to pursue their boldest ideas. Each scholar is appointed for up to two five-year terms. Inthe summer of 2025, hhmi announced its second cohort of freeman hrabowski scholars: 30 exceptional scientists from 23 u.s. Research institutions. Once appointed, they will join the 31 inaugural freeman hrabowski scholars.the program is named after freeman a. Hrabowski iii, president emeritus of the university of Maryland, baltimore county.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 80.2%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 86.9%; rating input score 87; 20th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 41.2%; rating input score 95; 95th percentile among comparable filings
• Total-asset coverage ratio: 25.04; rating input score 98; 98th percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 87; 87th percentile among comparable filings
• Officer compensation ratio: 1.5%; rating input score 64; 64th percentile among comparable filings

Growth

• Program expense growth: 0.8% per year; rating input score 100; 10th percentile among comparable filings
• Revenue growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
• Asset growth: 3.3% per year; rating input score 100; 23rd percentile among comparable filings