Van Andel Research Institute

Nonprofit profile at a glance

EIN
522000823
IRS 990 coverage
2009–2023
Forms available
Form 990 2023, Form 990-T 2023
Location
Grand Rapids, MI, USA
Phone
6162345000
Rating
76
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Cancer Research

Official website

Reported finances

Revenue
$112,738,485
Expenses
$118,913,786
Assets
$190,464,759
Liabilities
$16,145,740

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • DAVID VAN ANDEL (CHAIRMAN / CEO)
  • TIMOTHY MYERS (VICE PRESIDENT & CAO/CFO)

Highest reported compensation

  • KATHY VOGELSANG (CHIEF INVESTMENT OFFICER): $1,722,571 total reported compensation
  • TED HEILMAN (ASSOC DIRECT-SR. PORTFOLIO MGR.): $1,240,706 total reported compensation
  • DR PETER JONES (CHIEF SCIENTIFIC OFFICER & RES. DIR.): $1,118,685 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Medical research organization van andel research institute is an independent biomedical research organization committed to improving the health and enhancing the lives of current and future generations.

What it reported doing in 2023

Department of metabolism and nutritional programmingsee schedule o for further information about this program's accomplishments.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 95% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 83
  • Accountability: 90
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 65.3%; rating input score 65
  • Fundraising efficiency: $48.57 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 54th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 83.3%; rating input score 83; 31st 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: -5.5%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.6; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 65.3% of spending went to programs
  • Governance: 5 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $77.7M in reported program spending
  • Leadership: top reported pay $1.7M · 16 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.6M reported
  • Consistency: 43 of 43 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.