Medical research, ethics, and experts (General)

by dan, Wednesday, July 13, 2022, 19:43 (864 days ago) @ dan

HHMI is quite an organization.

So how do they make money? This is from their 2017 Financial Statement:

Intellectual Property

The Institute receives licensing fees and royalty income in connection with the commercialization of intellectual property created by its scientists. Licensing fees and royalty income are recorded as revenue in the Consolidated Statements of Operations and Changes in Net Assets at the time of receipt or when earned.

In addition, the Institute may indirectly have equity interests in startup companies formed to commercialize inventions created by its investigators. Such equity interests are held in the host institution’s name for the benefit of HHMI until such time as the host institution disposes of that interest. As a result, recognition of value related to such equity interests is recorded only upon notification to HHMI by the host institution that its equity interest has been sold, and the Institute’s share of the proceeds has been determined. No value for such equity interests is carried on the balance sheet.

The Institute may in the future directly hold equity or other interests in some startup companies formed to commercialize inventions created by its group leaders or other researchers at the Janelia Research Campus. In this event, the equity or other interests would be managed by the Institute’s Investment Department and appropriately recorded in the consolidated financial statements.

The 2021 statement shows they have total assets of over 23 billion, with total revenue over 6.7 billion.

And they're worth more than that because As a result, recognition of value related to such equity interests is recorded only upon notification to HHMI by the host institution that its equity interest has been sold, and the Institute’s share of the proceeds has been determined. No value for such equity interests is carried on the balance sheet.

So they have a LOT of wealth that doesn't appear on these statements.

There's a lot to explore here. I feel like I've caught the Dulan Drift bug.

EDIT: Had to edit this as I originally read the statements wrong. I believe these numbers are correct.


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