Overview
What is Licr Fund Inc?
Licr Fund Inc is a non-profit Delaware corporation based in New York City, specifically at 600 Third Avenue, 32nd Floor. The organization holds a diverse investment portfolio, with annual proceeds allocated to support the Ludwig Institute for Cancer Research Ltd. This institute is a tax-exempt entity under IRC section 501(c)(3) and is not classified as a private foundation due to its role in conducting medical research into cancer, in collaboration with qualified hospitals. In 2022, the Licr Fund Inc granted $76 million to the institute, which was utilized for laboratory research and clinical trials. The Licr Fund Inc functions as a supporting organization, contributing financially to the Ludwig Institute for Cancer Research Ltd's mission.
Official website here: www.ludwigcancerresearch.org/about/
What are the reviews and ratings of this charity?
Charity Navigator rating: 96% (Four-Star out of Four Star rating)
Licr Fund Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With an overall score calculated based entirely on this single beacon, the organization showcases a commitment to transparency and responsible financial management, achieving a perfect score in several key areas such as independent board membership and financial oversight.
The organization stands out with 75% of its board members being independent, which enhances governance and reduces the potential for conflicts of interest. Furthermore, Licr Fund Inc demonstrates effective financial health, evidenced by a low liabilities-to-assets ratio and a high percentage of program expenses, indicating that a significant portion of its budget goes directly toward fulfilling its mission.
Despite these strengths, the summary does not highlight any specific areas of concern or limitations within the organization. Overall, Licr Fund Inc exemplifies a well-run nonprofit that prioritizes accountability and financial integrity, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Licr Fund Inc legitimate?
Licr Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Licr Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $245,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ludwigcancerresearch.org/about/
What is the mission statement of Licr Fund Inc?
Licr Fund Inc is a non-profit organization that supports the Ludwig Institute for Cancer Research Ltd. by providing grants and assistance to further the Institute's mission in medical research. The Fund holds a diverse investment portfolio, the proceeds of which are used to provide annual financial support to the Institute. In 2022, the Fund granted $76 million to the Institute to aid in their research activities, specifically laboratory research and clinical trials. As a medical research organization, the Institute is exempt under IRC section 501(C)(3) and conducts research into the causes and cures of cancer, collaborating with qualified hospitals. The Fund's contributions play a crucial role in advancing the Institute's groundbreaking work in cancer research.
Official website here: www.ludwigcancerresearch.org/about/
Who is the CEO of Licr Fund Inc?
Xing Chen is the President, Cio of Licr Fund Inc.
Official website here: www.ludwigcancerresearch.org/about/
What is the revenue of Licr Fund Inc?
Licr Fund Inc's revenue in 2022 was $69,314,681.
Official website here: www.ludwigcancerresearch.org/about/
Who are the executives of Licr Fund Inc and what are their salaries?
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $1,168,808
- Other: $226,460
- Compensation: $0
- Related: $1,017,288
- Other: $70,763
- Compensation: $0
- Related: $916,361
- Other: $101,470
- Compensation: $0
- Related: $524,055
- Other: $193,029
- Compensation: $0
- Related: $230,456
- Other: $135,793
- Compensation: $0
- Related: $251,003
- Other: $71,171
- Compensation: $75,000
- Related: $76,135
- Other: $0
- Compensation: $30,000
- Related: $59,260
- Other: $0
- Compensation: $30,000
- Related: $10,384
- Other: $0
- Compensation: $30,000
- Related: $10,384
- Other: $0
- Compensation: $30,000
- Related: $10,384
- Other: $0
- Compensation: $30,000
- Related: $10,384
- Other: $0
- Compensation: $20,000
- Related: $6,923
- Other: $0
Official website here: www.ludwigcancerresearch.org/about/
Where can I find the form 990 for Licr Fund Inc?
Licr Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ludwigcancerresearch.org/about/
Learn more at the official website: www.ludwigcancerresearch.org/about/
Mission Statement of Licr Fund Inc
LICR Fund Inc, a supporting organization, plays a significant role in furthering the mission of the Ludwig Institute for Cancer Research Ltd. This non-profit Delaware corporation holds a diverse investment portfolio that generates annual funds to support the Institute's groundbreaking medical research endeavors. The Ludwig Institute for Cancer Research, exempt under IRC section 501(c)(3), is not classified as a private foundation due to its status as a medical research organization, engaged in cancer research in conjunction with qualified hospitals.
In 2022, Licr Fund Inc granted the Ludwig Institute for Cancer Research a substantial sum of $76 million, utilized to bolster their research initiatives, including laboratory research and clinical trials. As a philanthropic entity, Licr Fund Inc's primary objective is to assist the Institute in its quest to unravel the mysteries of cancer, ultimately contributing to the discovery of potential cures. By providing financial support, Licr Fund Inc enables the Institute to continue pushing the boundaries of scientific knowledge and making strides in the cancer research field.
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Impact
October, 2024
Licr Fund Inc plays a crucial role in advancing cancer research and providing essential support to the Ludwig Institute for Cancer Research Ltd. By managing a diversified investment portfolio, the Fund allocates significant resources directly to the Institute, with a notable contribution of $76 million in 2022. This financial support enables the Institute to conduct vital medical research aimed at uncovering the causes of cancer and developing potential cures.
Through funding laboratory research and clinical trials, Licr Fund Inc fosters innovation and progress in the medical field, contributing to the overall understanding and treatment of cancer. Its impact extends beyond financial support; it cultivates collaborations with qualified hospitals and research institutions, enhancing the collective efforts to combat this complex disease. The Fund's dedication to medical research not only aids in advancing knowledge but also has the potential to save lives and improve patient outcomes in the fight against cancer.
This information is meant to be a general summary of Licr Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $69,267,490
- Gross Receipts: $625,401,003
Assets and Liabilities:
- Total Assets: $1,719,889,219
- Total Liabilities: $1,632,803
- Net Assets: $1,718,256,416
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Organization Details
Founding Year
1990
Phone
(212) 450-1500Principal Officer
Xing Chen
Main Address
600 THIRD AVENUE 32ND FLOOR, NEW YORK, NY, 10016
NTEE Category
Code: H110 - Medical research
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