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Posts Tagged ‘The Broad ART Foundation (EIN#95-4664939 in Santa Monica-formerly Los Angeles assets over $1B | only 3 trustees)

The Broad Institute (MIT, Harvard, TBF*, 2008) and Stanley Family Foundation (see MBI, Inc.)-funded Center for Psychiatric Research (“schizophrenic, bi-polar”) Testing and Treatment Advocacy (“TAC”) and Gene-Editing (CRISPR-Cas9) USPTO Patent Wars with UCBerkeley et al. (written 6/15/17, posted 7/23/2017)

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Post name and shortlink: The Broad Institute (MIT, Harvard, TBF*, 2008) and Stanley Family Foundation (see MBI, Inc.)-funded Center for Psychiatric Research (“schizophrenic, bi-polar”) Testing and Treatment Advocacy (“TAC”) and Gene-Editing (CRISPR-Cas9) USPTO Patent Wars with UCBerkeley et al. (written 6/15/17, posted 7/23/2017). (case-sensitive shortlink ends “=71z”)…


This post had a preview, published in June, with similar, multi-component title reflecting how many components there are to these situations (and, institutes):

More info on/from the “Speaking of Projects and Nonprofits” post:

That post also looked at a website “PgEd.org” supposedly helping educate readers on basic concepts (genotype v. phenotype) although on closer look, doing a good job of soliciting for participants and (if I recall it right) PR for the cause.  It’s located at Harvard Medical School Dept. of Genetics (i.e., NOT a separate 501©3?  Only a thorough search would say for sure), but acknowledges a recent “generous contribution” from Professor Jennifer Doudna.  On closer examination of the PgEd.org page (in that post) I showed how it’s more promotion than education (poor definitions, circular references, in between plugs for participation in getting personally genome-sequenced…)

PgED links to GETed conferences (started in 2010?) which go global, and are hosted by a 501©3 “PersonalGenome.org” started only in 2005 (at Harvard Med School).  Again, they want volunteers to give their personal data and for it to be shared globally and across institutions.  Meanwhile, The Broad Institute wants those CRISPR patents… The PersonalGenomes.org simplified website, to its credit, does post under “Donate” its own street address, IRS status and even EIN# 26-2973607 but, shamefully (it’s been now a dozen years!) not one Form 990 or audited financial statement.

There is no “financials” page. Having browsed their very few Form 990s (2008 first –> current) and seen employees ranging from “0” to “4” and a board of only 6, with minimal contributions until a single $1,000,000 grant given 12/31/2011 (and afterwards, times of running in the red nevertheless) I can see why they may not be encouraging a closer look. Then in 2015, organization changed its name to “Open Humans Foundation.”  This website DOES post prior Forms990 (and reference the namechange). Another surprise: its legal domicile is North Carolina, not MA.


(NC filing shows timing of the name change).

 

Only registered for MA in 2012…(per state-level websites recording corporation names in both states.

Note:  These typically come with disclaimers, but a search will show that on-line as of today (7/26/17 by now).  Also interesting — in neither state were annual reports showing as filed.  First, it didn’t file them (at least visible on-line, see “disclaimer” comment) for several years in NC, then after 2012, it didn’t file for four more years, until 2016.  Guess if there’s enough professionals, MDs, PhDs, or important people on the organizations, they don’t have to obey normal laws regarding nonprofit registration, and corporate annual reports at the state level??

Same EIN#26-2973607 Diff’t Name. (Open Humans Foundation in Boston, formerly “PersonalGenomes.org”). The indication “MA” as legal domicile (Header Info, bottom-right) doesn’t match Business Entity records in MA or NC, which say it’s NC…

Same EIN#26-2973607 Orig. Name, Form 990EZ for 2008; this form doesn’t prompt for legal domicile…

 

This section and info. was added post-publication on 7/26/2017 (along with the Two Tax Returns excerpts and “PgEd.org” images extending below this section’s border) and will be discussed separately, soon. I’m just bringing it up here to “prime the pump” for a future post.

PgEd.org home banner (a Project of Harvard Med. School Dept. of Genetics) says it got a generous contribution from UCBerkeley’s (See “Doudna Lab”) Professor Doudna (Harvard + MIT’s and TBF’s “The Broad Institute” meanwhile warring with UCB (and Prof. Doudna) over CRISPR patents). No caption, no date on the pix…how “educational.”

PgEd.org home banner (7/2017). Emphasis on personal genetics + sequencing.

PgEd.org home banner (a Project of Harvard MedSchool Dept. of Genetics

PgED: Alfred P. Sloan Fndtn, Sundance Festival into it too…(No caption, no date, on the photo. How “educational”…)


(MIT, Harvard, TBF,* 2008)” refers to the leadership (per its inc. papers available at Commonwealth of Massachusetts business entity search site). “2008” refers not to “TBF” but to The Broad Institute’s incorporation date. I mention this because records show that just before 2008, TBF changed its accounts (EIN# and legal entity registered with the state, as I recall, as next paragraph mentions.  I wonder if the two planned events were somehow related.

This also affected or related to filings regarding (but not the topic of this post) two other, much smaller, Broad-funded nonprofits active in training individuals urban school leadership with a view towards its reform. That seems a lot of shifting identities shortly before the major recession IN 2008. (Those nonprofits featured training of school leadership.  See previous posts.)

*TBF = “The Broad Foundation,” which as “it” changed EIN#s ca. 2006-07, but specially IRS-ruled “not a termination,” fiscally (or, at minimum two different entities associated with/filing under two different EIN#s), I guess one might say it was a paranormal succession of two-into-one foundations, with some name-shifting between which was the d/b/a of the other.  (I posted on it earlier, some images here for reminders). Not the main point in this post, except for the ability to pull off some phenomenal societal shifts, when there’s enough financial and famous philanthropic names weight to be thrown around, with friends and associates, towards causes they believe in.


Like many philanthropists, Eli and Edythe Broad are active in many areas — the arts, education, architecture, development, and for purposes of this post, scientific research with a focus on the biomedical, genetic, psychiatric and the Human Genome with a view towards applications.

It’s a fascinating field, it’s a mark of this century (and the last part of the 20th), and even just the technology facilitating study or experimentation in it, is a whole other story.  If I weren’t doing this blog, I’d be interested in that field in general and as it intersects with our family line which seems to have a scientific streak (as well as manipulative, bullying streak) somehow “bred into” it.  But in blogging it here, my focus after posting some of the fairly recent news, is still on reconstructing the “genealogy” and “DNA” of its major philanthropic and university (collaborating) investors/funders and funding families.

Blogger comments re: timing of this post (see title).  Other than this update, and adding information on one more institute (Whitehead Institute for Biomedical Research — at MIT, but its own EIN# since the 1980s, say its tax returns) and that is a short post, for a change!

I have been working and focusing hard for more than a month to update the “Do You Know Your…” theme in three major parts, and ancillary posts.  These are major networked nonprofits, each with its own tax returns — many parts, and a patterns developing over time within them, each with its websites, and all with their sponsors, and interrelationships.

#4 from USTreasury OCC’s BankDerivatives Rept March08

I needed a mental break and “time-out” for a bit from that subject matter and clicking through the same websites over and over to dredge out the pieces of the puzzle.  I enjoyed the detail (especially on the state CAFR and US Treasury reports), but the drudgery of poorly-organized, repetitive posts and finding more and more evidence of “skullduggery” in the nonprofit sector with not one, but several different organizations…  It’s not without its rewards (like increased understanding), but while study and posting on a single topic, I am immersed in that subject matter, sometimes to the point of dreaming about posting on it, or discovering key points about them.  

So having accomplished several legs of this project I decided to return to the previous topic here for a while, around themes and organizations listed in post title.   It’s also a fascinating one.  The “heavy lifting” on this post was already done.  I’m not re-viewing the content in detail (I did re-read it), but am adding some on the Whitehead Institute for Biomedical Research organization mentioned on the Wikipedia which I believe puts the development of the Broad Institute in some chronological perspective.
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Written by Let's Get Honest

July 23, 2017 at 7:51 pm

Posted in 1996 TANF PRWORA (cat. added 11/2011)

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Speaking of Projects and Nonprofits Funded by The Broad Foundation…. How about The Broad Institute (and its role in waging Patent Wars over CRISPR (Gene Perturbation, RNA/DNA cutting-edge research) with UCBerkeley?) [Publ. June 18, 2017]

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Speaking of genetics, here’s the geneaology of this post Speaking of Projects and Nonprofits Funded by The Broad Foundation…. How about The Broad Institute (and its role in waging Patent Wars over CRISPR (Gene Perturbation, RNA/DNA cutting-edge research) with UCBerkeley?) (case-sensitive short-link ending “-720” that “0” is a zero, not O as in “Ohio.”).  

My unpaid, ad hoc “developmental editor” (sounding board for coherence, flow, and how it communicates the central ideas, not personally involved in the primary content I report on, by now familiar with the blog and my writing style), suggested I not dilute the middle of the previous (parent) post (“Why Bother to Unravel….”) with this fascinating information on another Broad Foundation project at Harvard & MIT.

I didn’t want to add this fascinating information to the end of the “Why Unravel…?” post (full title and starting sentences — see image below left)  — it was too relevant and interesting to be that far down — so a new post it is as of June 15, 2017 (so far). (and now published..//LGH)

I already had a second, more detailed (older sibling?) post** started on the same topic, so this can stand in as a preview. (**The Broad Institute (MIT,Harvard, TBF*, 2008) and Stanley Family Foundation (see MBI, Inc.)-funded Psychiatric Research (“schizophrenic, bi-polar”) Testing & Treatment Advocacy (TAC) and Gene-Editing (CRISPR-Cas9) USPTO Patent Wars with UCBerkeley et al. (case-sensitive short-link ending “-71z” and post started June 14, 2017, currently in draft published in July). I’ll post the link again at the bottom.

After following that ad hoc editor’s advice, I then somewhat ignored it by still leaving in a shorter section, (a “footprint”– image below-right with extended caption) then expanding further upon another of the organizations of the type I was blogging, that is, upon the Council of State Governments, an association of the same generic “type” as the one which had received a $10.5M grant long ago for a MIA (“Missing-In-Action” that is, not to be found in anything resembling $10.5M worth of product, or as described) project by the Council of Chief State School Officers.  From the earlier version of The Broad Foundation (dba of “The Eli and Edythe Broad Foundation.”)

Snapshot of my June 16 2017 post, the section referring to The Broad Institute (involving Harvard, MIT & The Broad Foundation) and their recent patent wars with UCBerkeley over CRISPR processes), and the “footprint” of Broad Institute info left at the “Why Unravel” 6/16/2017 post more on private associations named after public officials or entities (State legislators, Governors, Mayors, City Managers, School Facilities Planners, or, case in point, Chief State School Officers).


But first, a bit of “genealogy” of The Broad Foundation, or as they now say “The Broad Foundations.” (their financial statements identify what’s meant by that — includes one related to art).

I’ll pick up the narrative with a reminder below this section.

First, A Bit About The Broad Foundation

(Some consciousness-raising from its website, global financial history events in mainstream media about an insurance company it bought for $52M, sold for $18B a generation later, after which the US Taxpayers had to bail out the insurer for $85B, AND they also paid some of its CEOs $165M to stay on and straighten out the mess they’d made, and pay a nearly $1 billion settlement to shareholders.  As I’m reviewing this, and the startup of the Broad Institute at JUST ABOUT the same time, I’m also remembering how the Broad Foundation (will summarize below again) switched its EIN# and corporate Entity#s, moving assets smoothly from one to another, while persuading the IRS it wasn’t a real termination of the earlier one.

In addition (as it reminds me) exceptions were made for their “Broad Center” (with both old and new nonprofits focused on training urban education leaders) on its 990s, despite being primarily funded by The Broad Foundation (old & new EIN#s both) in stating that the major philanthropic foundation wasn’t “really” a related entity (as the IRS form prompts to reveal), despite being the major funder and having major overlap of board of directors in common (typical indicators).  I won’t post that info here (might have previously), or it might overburden this post, but will respond to any comment asking for the details.  Or, you can go through the process I did, and read the involved Form 990s of all four entities around the time of transition.  I posted some of it near the bottom of my recent (June 16, 2017) post.)


“Broad” in this foundation is not pronounced like a derogatory term for women, but to rhyme with “road” or “Rhodes” as in a Rhodes scholarship.  

Current website features education first (Education, Science, and the Arts) and uses very large font, many pictures and bright colors, while (as I found with theBroadCenter.org) no easy link to find the financials. A link to “Foundation Report” will instead lead to descriptions of their projects.  No audited financial reports and certainly no Form 990PFs (next two images).

It also has the short version of their astounding success from humble origins (Detroit Public Schools, Michigan State, married straight out of college, Eli Broad went from CPA to homebuilder [nationwide AND France], making homes without basements therefore more affordable to young people, Kaufman & Broad for a while, also purchasing SunLife (retirement savings for the Baby Boomers he was already selling homes to), and moving to Los Angeles by 1963:

In 1971, Eli acquired SunLife, a small insurance company founded in 1890, for $52 million and transformed it into a new business that would answer another essential public need: offering secure retirement savings to aging Baby Boomers—the same customers who bought homes from Kaufman and Broad. SunAmerica, as Eli renamed the company, provided retirements for a generation of Americans. The company was the best-performing on the New York Stock Exchange for a decade, brought thousands of jobs to Los Angeles and created wealth for its employees, shareholders and Eli’s family when he sold the company to AIG for $18 billion in 1999.

AIG was world’s largest insurer.  Only nine years later, after the Broads got out of it, with MAJOR profits creating no doubt debt to be funded, in 2008, the U.S. taxpayers bailed out AIG…. Wall Street Journal article (see image.  Unfortunately, WSJ  wants a subscription to read it all; but I’ll bet most of my readers over the age of 20 may remember events of 2008).  (U.S. to Take over AIG in $85 Billion Bailout: Central Banks Inject Cash as Credit Dries Up | Emergency Loan Effectively Gives Government Control of Insurer; Historic Move Would Cap 10 Days That Reshaped U.S. Finance)

WSJ on AIG Takeover (date: Sept. 2008)Click image if needed to read the preview shown

An April 11, 2017 retrospective in “The Balance.com” by Kimberly Amadeo, recounts how the AIG bailout made (then-chairman of the Federal Reserve) Benanke angrier than anything else.  A good reminder of how it happened and how many were involved, I’d read it…
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Written by Let's Get Honest

June 18, 2017 at 5:36 pm

martinplaut

Journalist specialising in the Horn of Africa and Southern Africa

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