Palo Alto Medical Foundation For Health Care Research & Education in Mountain View, California (CA)

Palo Alto Medical Foundation For Health Care Research & Education
Employer Identification Number (EIN)	941156581
Name of Organization	Palo Alto Medical Foundation For Health Care Research & Education
In Care of Name	Chris Boudreaux
Address	2350 W El Camino Real, Mountain View, CA 94040-6201
Activities	Scientific research (diseases), Contact or sponsored scientific research for industry, Other school related activities
Subsection	Scientific Organization, Charitable Organization, Educational Organization
Ruling Date	06/1950
Deductibility	Contributions are deductible
Foundation	Hospital or medical research organization
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2013
Assets	$50,000,000 to greater
Income	$50,000,000 to greater
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$1,498,067,689
Amount of Income	$1,661,152,093
Form 990 Revenue Amount	$1,658,618,047
National Taxonomy of Exempt Entities (NTEE)	Medical Research: Medical Specialty Research

Non-representatives - add comments:

Amount of income in 2013: $1,661,152,093

This organization:	$1,661,152,093
Other organizations performing similar types of work:	$5,791,657

Assets in 2013: $1,498,067,689

Palo Alto Medical Foundation For Health Care Research & Education:	$1,498,067,689
Other organizations performing similar types of work:	$6,786,167

Expenses in 2013: $1,463,543,445

This organization:	$1,463,543,445
Other organizations performing similar types of work:	$2,139,588

Income to expenses ratio in 2013: 1.1

This organization:	1.1
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2007: 96.0%

Palo Alto Medical Foundation For Health Care Research & Education:	96.0%
Other organizations performing similar types of work:	84.1%

Number of employees in 2013: 5,959

This organization:	5,959
Other organizations performing similar types of work:	77

Employees paid over $100,000 in 2013: 18.8%

Palo Alto Medical Foundation For Health Care Research & Education:	18.8%
Other organizations performing similar types of work:	0.0%

Grants share in income in 2013: 0.7%

This organization:	0.7%
Other organizations performing similar types of work:	77.9%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

	2012	2013
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	No	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	Yes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	No	Yes
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	No	No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	No	No
Did the organization report an amount for other liabilities?	Yes	Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	Yes	Yes
Did the organization obtain separate, independent audited financial statements for the tax year?	No	No
Was the organization included in consolidated, independent audited financial statements for the tax year?	Yes	Yes
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	Yes	Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	Yes	Yes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	Yes	Yes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	No	No
A family member of a current or former officer, director, trustee, or key employee?	Yes	Yes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	Yes	Yes
Did the organization receive more than $25,000 in non-cash contributions?	Yes	Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	Yes	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	Yes	Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	Yes	Yes
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2011	2012	2013
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		767	434
The number of Forms W-2G		0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		Yes	Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		5,350	5,959
Did the organization file all required federal employment tax returns?		Yes	Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?	Yes	Yes	Yes
Has it filed a Form 990-T for this year?		Yes	Yes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		Yes	Yes
Did the organization notify the donor of the value of the goods or services provided?		Yes	Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2012	2013
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$1,652,634	$1,152,313
Total reportable compensation from related organizations	$15,521,393	$17,178,488
Total estimated amount of other compensation from the organization and related organizations	$8,418,813	$4,176,568
Total number of individuals who received more than $100,000 of reportable compensation from the organization	726	822
Total number of independent contractors who received more than $100,000 of compensation from the organization	300	300

	2011	2012	2013
Statement of Revenue
Total revenue	$1,443,436,069	$1,549,837,340	$1,658,618,047
Contributions, Gifts, Grants and Other Similar Amounts	$12,137,091	$12,074,978	$11,027,784
Program Service Revenue	$1,423,263,685	$1,530,255,241	$1,635,838,754
General Medical and Surgical Hospitals		$1,530,045,695	$1,634,691,436
621990		$209,546	$1,147,318
All other program service revenue		$0	$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$6,338,050	$6,037,201	$10,031,307
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$0	$0	$0
Net rental income	$893,634	$780,713	$669,704
Gross rents (Real / Personal)	$1,220,333 / $0	$979,763 / $0	$779,685 / $0
Less: rental expenses (Real / Personal)	$326,699 / $0	$199,050 / $0	$109,981 / $0
Rental income or (loss) (Real / Personal)	$893,634 / $0	$780,713 / $0	$669,704 / $0
Net gain/loss from sales of assets other than inventory	$15,491	$636,113	$1,000,901
Gross amount from sales of assets other than inventory (Securities / Other)	$0 / $25,262	$0 / $1,381,960	$0 / $3,378,495
Less: cost or other basis and sales expenses (Securities / Other)	$0 / $9,771	$0 / $745,847	$0 / $2,377,594
Gain or (loss) (Securities / Other)	$0 / $15,491	$0 / $636,113	$0 / $1,000,901
Net income/loss from fundraising events	$0	$-2,352	$13,496
Gross income from fundraising events	$0	$50,855	$56,631
Less: direct expenses	$0	$53,207	$43,135
Net income/loss from gaming activities	$0	$0	$5,014
Gross income from gaming activities	$0	$0	$8,350
Less: direct expenses	$0	$0	$3,336
Net income/loss from sales of inventory	$0	$0	$0
Miscellaneous Revenue	$788,118	$55,446	$31,087
454110		$26,160	$31,087
All other revenue		$0	$0

	2011	2012	2013
Statement of Functional Expenses
Total functional expenses	$1,303,074,738	$1,358,082,331	$1,463,543,445
Grants and other assistance to domestic organizations and domestic governments		$1,119,250	$1,097,344
Grants and other assistance to domestic individuals		$37,803	$82,459
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$0	$6,642,053	$8,731,108
Compensation not included above, to disqualified persons		$143,579	$123,624
Other salaries and wages	$229,551,139	$234,888,796	$267,975,221
Pension plan accruals and contributions		$20,879,249	$22,790,530
Other employee benefits		$80,765,243	$90,949,810
Payroll taxes	$21,308,696	$21,550,568	$24,848,889
Fees for services (non-employees)
Management		$7,907,929	$6,532,668
Legal		$1,438,296	$1,607,875
Accounting		$153,768	$29,693
Lobbying		$0	$0
Professional fundraising services	$0	$0	$0
Investment management fees		$1,030,915	$1,166,264
Other		$504,253,722	$545,579,911
Advertising and promotion		$3,077,114	$2,594,071
Office expenses		$30,194,836	$15,638,159
Information technology		$38,431,849	$42,095,696
Royalties		$0	$0
Occupancy		$28,635,787	$33,227,023
Travel		$970,169	$951,377
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$660,988	$1,091,701
Interest		$10,456,966	$17,200,485
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$57,178,537	$63,818,948
Insurance		$8,563,260	$11,745,359
Other expenses		$155,942,544	$153,014,631
Other expenses		$100,001,202	$120,155,722
Other expenses		$17,380,852	$14,036,267
Other expenses		$12,857,690	$13,016,202
Other expenses		$12,919,366	$3,442,408

	2011	2012	2013
Balance Sheet
Total assets	$1,087,802,514	$1,205,861,646	$1,498,067,689
Cash - non-interest-bearing		$0	$0
Savings and temporary cash investments		$81,314,458	$102,860,198
Pledges and grants receivable, net		$6,866,807	$4,701,079
Accounts receivable, net		$112,875,841	$112,934,071
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$2,992,287	$2,156,787
Prepaid expenses and deferred charges		$5,152,089	$5,221,217
Land, buildings, and equipment: cost or other basis		$844,248,622	$960,077,462
Investments - publicly traded securities		$116,529,307	$260,733,371
Investments - other securities		$0	$0
Investments - program-related		$2,211,004	$7,852,255
Intangible assets		$2,586,390	$8,436,884
Other assets		$31,084,841	$33,094,365
Total liabilities	$426,273,079	$433,091,329	$820,386,039
Accounts payable and accrued expenses		$134,707,374	$143,529,824
Grants payable		$0	$0
Deferred revenue		$0	$0
Tax-exempt bond liabilities	$263,353,986	$263,358,893	$647,613,801
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$1,397,536	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$35,025,062	$29,242,414
Total net assets or fund balances	$661,529,435	$772,770,317	$677,681,650
Unrestricted net assets		$734,323,206	$634,946,855
Temporarily restricted net assets		$28,228,764	$32,292,903
Permanently restricted net assets		$10,218,347	$10,441,892
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii)
Number of organizations supported	0
Sum of amounts of support	$0

	2000	2001	2002	2003	2004	2005	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$309,052,040	$377,983,007	$440,345,774	$521,948,580	$608,017,985	$680,904,625	$775,850,465	$913,774,721
Contributions, gifts, grants, and similar amounts received	$8,909,950	$6,030,229	$7,348,097	$10,174,322	$10,456,245	$17,823,792	$14,302,844	$11,090,998
Contributions to donor advised funds							$0	$0
Direct public support	$6,076,039	$2,607,994	$3,972,185	$7,712,760	$10,078,745	$14,975,776	$12,601,259	$8,340,582
Indirect public support	$1,444,612	$415,019	$1,169,461	$621,730	$377,500	$761,846	$1,343,275	$2,312,002
Government contributions (grants)	$1,389,299	$3,007,216	$2,206,451	$1,839,832	$0	$2,086,170	$358,310	$438,414
Program service revenue including government fees and contracts	$273,404,438	$370,419,160	$431,768,058	$509,452,319	$594,525,734	$658,320,779	$751,645,772	$891,523,380
Membership dues and assessments	$0	$0	$0	$0	$0	$0	$0	$0
Interest on savings and temporary cash investments	$2,043,896	$1,174,781	$140,634	$132,996	$701,351	$1,812,364	$3,856,080	$5,040,570
Dividends and interest from securities	$625,700	$1,034,966	$1,616,045	$1,957,636	$1,996,299	$2,046,489	$3,967,716	$2,726,006
Net rental income or (loss)	$121,139	$131,037	$96,892	$113,514	$125,363	$105,130	$279,715	$73,868
Gross rents	$263,485	$335,600	$190,301	$207,295	$264,773	$249,128	$466,123	$504,560
Less: rental expenses	$142,346	$204,563	$93,409	$93,781	$139,410	$143,998	$186,408	$430,692
Other investment income	$0	$0	$0	$0	$0	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$23,932,656	$-875,300	$-690,499	$46,630	$-8,502	$449,646	$810,476	$2,415,088
Gross amount from sales of assets other than inventory	$62,661,919	$6,767,618	$11,300,029	$10,523,622	$395,313	$698,291	$3,053,419	$2,726,258
Less: cost or other basis and sales expenses	$38,729,263	$7,642,918	$11,990,528	$10,476,992	$403,815	$248,645	$2,242,943	$311,170
Net income or (loss) from special events and activities	$0	$0	$0	$0	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0	$0	$0	$0	$0
Other revenue	$14,261	$68,134	$66,547	$71,163	$221,495	$346,425	$987,862	$904,811
Total expenses	$280,374,236	$371,263,421	$423,100,627	$487,825,110	$559,683,202	$597,490,029	$702,407,929	$830,655,161
Program services	$262,660,023	$350,567,654	$402,164,330	$461,702,398	$535,780,479	$553,328,143	$665,234,534	$797,753,542
Management and general	$17,714,213	$20,695,767	$20,936,297	$26,122,712	$23,887,723	$24,732,682	$29,381,142	$32,882,694
Fundraising	$0	$0	$0	$0	$15,000	$16,979	$41,042	$18,925
Payments to affiliates	$0	$0	$0	$0	$0	$19,412,225	$7,751,211	$0
Net assets or fund balances at end of year	$224,276,167	$231,790,579	$248,199,413	$284,965,776	$343,878,213	$431,437,641	$444,421,349	$574,406,863
Excess or (deficit) for the year	$28,677,804	$6,719,586	$17,245,147	$34,123,470	$48,334,783	$83,414,596	$73,442,536	$83,119,560
Net assets or fund balances at beginning of year	$198,127,524	$224,276,167	$231,790,579	$248,199,413	$284,965,776	$343,878,213	$431,437,641	$444,421,349
Other changes in net assets or fund balances	$-2,529,161	$794,826	$-836,313	$2,642,893	$10,577,654	$4,144,832	$-60,458,828	$46,865,954

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$830,655,161	$797,753,542	$32,882,694	$18,925
Grants paid from donor advised funds		$0
Other grants and allocations		$540,039
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$2,896,150	$0	$2,896,150	$0
Compensation of former officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)	$0	$0	$0	$0
Salaries and wages of employees not included above	$165,818,868	$158,250,224	$7,568,644	$0
Pension plan contributions not included above	$5,100,123	$5,005,943	$94,180	$0
Employee benefits not included above	$26,321,004	$24,454,663	$1,866,341	$0
Payroll taxes	$6,752,034	$6,572,292	$179,742	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$200,027	$0	$200,027	$0
Legal fees	$878,431	$202,413	$676,018	$0
Supplies	$72,973,147	$72,114,965	$840,410	$17,772
Telephone	$3,739,946	$3,631,902	$108,044	$0
Postage and shipping	$1,279,907	$1,006,879	$273,028	$0
Occupancy	$23,262,506	$22,203,633	$1,058,873	$0
Equipment rental and maintenance	$16,073,425	$15,622,715	$450,710	$0
Printing and publications	$113,083	$66,421	$46,232	$430
Travel	$532,438	$444,825	$87,551	$62
Conferences, conventions, and meetings	$1,126,700	$803,428	$323,272	$0
Interest	$5,194,900	$4,933,931	$260,969	$0
Depreciation, depletion, etc.	$36,211,545	$35,507,175	$704,370	$0
Other expenses not covered above	$461,640,888	$446,392,094	$15,248,133	$661

	2000	2001	2002	2003	2004	2005	2006	2007
Balance Sheets
Total assets	$308,423,482	$312,416,273	$337,157,115	$392,415,587	$472,255,503	$707,845,408	$754,618,456	$879,576,584
Cash - non-interest-bearing	$0	$0	$0	$0	$0	$0	$0	$0
Savings and temporary cash investments	$29,855,307	$32,923,737	$63,675,943	$86,424,712	$65,327,717	$93,315,239	$27,041,264	$27,824,960
Accounts receivable less allowance for doubtful accounts	$33,997,591	$39,189,285	$37,016,447	$45,664,304	$49,427,356	$56,817,855	$62,922,765	$81,529,378
Pledges receivable less allowance for doubtful accounts	$6,174,276	$5,265,440	$5,010,726	$3,624,769	$4,030,856	$620,749	$4,311,969	$9,099,414
Grants receivable	$0	$0	$0	$0	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)							$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0	$0	$90,752
Inventories for sale or use	$2,281,189	$2,167,532	$2,502,731	$2,103,722	$2,180,043	$2,198,171	$2,564,999	$2,861,199
Prepaid expenses and deferred charges	$1,419,738	$2,383,103	$2,136,100	$1,978,350	$2,124,480	$2,125,688	$3,609,805	$2,708,533
Investments - publicly-traded securities							$145,674,837	$124,064,083
Investments - other securities	$46,941,252	$44,266,016	$39,768,284	$51,137,484	$64,417,675	$194,129,495	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0	$0	$0	$0
Investments - other	$0	$23,003	$23,003	$6,106	$6,106	$6,549	$319	$245
Land, buildings, and equipment less accumulated depreciation	$169,402,564	$167,980,628	$171,516,686	$188,379,427	$240,847,261	$314,902,305	$432,258,811	$569,245,289
Other assets, including program-related investments	$18,351,565	$18,217,529	$15,507,195	$13,096,713	$43,894,009	$43,729,357	$76,233,687	$62,152,731
Total liabilities	$84,147,315	$80,625,694	$88,957,702	$107,449,811	$128,377,290	$276,407,767	$310,197,107	$305,169,721
Accounts payable and accrued expenses	$56,520,675	$43,860,346	$55,823,894	$72,918,525	$90,832,040	$56,954,427	$90,087,546	$91,607,771
Grants payable	$0	$0	$0	$0	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$22,626,640	$22,121,954	$21,591,685	$21,032,962	$15,794,550	$188,632,587	$188,043,568	$187,198,346
Mortgages and other notes payable	$5,000,000	$0	$0	$0	$57,714	$37,019	$1,148,699	$1,182,815
Other liabilities	$0	$14,643,394	$11,542,123	$13,498,324	$21,692,986	$30,783,734	$30,917,294	$25,180,789
Total liabilities and net assets/fund balances	$308,423,482	$312,416,273	$337,157,115	$392,415,587	$472,255,503	$707,845,408	$754,618,456	$879,576,584
Total net assets or fund balances	$224,276,167	$231,790,579	$248,199,413	$284,965,776	$343,878,213	$431,437,641	$444,421,349	$574,406,863

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$309,052,040	$377,983,007	$440,345,774	$521,948,580	$608,017,985	$680,904,625	$775,850,465	$913,774,721
Total revenue, gains, and other support per audited financial statements	$305,614,878	$376,431,394	$438,267,133	$514,699,580	$601,794,087	$669,271,036	$765,969,062	$908,460,705
Other expenses	$4,045,105	$4,392,989	$4,131,082	$4,394,862	$3,237,159	$2,103,620	$2,469,518	$2,736,166
Net unrealized gains on investments	$0	$0	$0	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$4,394,862	$0	$0	$0	$0
Other	$4,045,105	$4,392,989	$4,131,082	$0	$3,237,159	$2,103,620	$2,469,518	$2,736,166
Other revenue	$7,482,267	$5,944,602	$6,209,723	$11,643,862	$9,461,057	$13,737,209	$12,350,921	$8,050,182
Investment expenses	$0	$0	$0	$0	$0	$0	$0	$0
Other	$7,482,267	$5,944,602	$6,209,723	$11,643,862	$9,461,057	$13,737,209	$12,350,921	$8,050,182

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$280,374,236	$371,263,421	$423,100,627	$487,825,110	$559,683,202	$597,490,029	$702,407,929	$830,655,161
Total expenses and losses per audited financial statements	$280,514,104	$371,457,584	$423,194,294	$487,934,678	$559,822,645	$597,618,274	$702,616,084	$830,828,785
Other revenue	$142,346	$204,563	$93,667	$109,568	$139,443	$143,998	$208,155	$430,692
Donated services and use of facilities	$0	$0	$0	$0	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0	$0	$0	$0	$0
Losses	$0	$0	$0	$0	$0	$0	$0	$0
Other	$142,346	$204,563	$93,667	$109,568	$139,443	$143,998	$208,155	$430,692
Other expenses	$2,478	$10,400	$0	$0	$0	$15,753	$0	$257,068
Investment expenses	$0	$0	$0	$0	$0	$0	$0	$0
Other	$2,478	$10,400	$0	$0	$0	$15,753	$0	$257,068

Average hours per week devoted to position	Compensation	Contributions to employee benefit plans & deferred compensation plans	Expense account and other allowances
Current Officers, Directors, Trustees, and Key Employees
40	$249,430	$30,914	$0
40	$283,092	$31,251	$0
40	$168,554	$23,576	$0
40	$741,659	$28,992	$0
40	$595,956	$222,020	$0
40	$489,072	$31,634	$0

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	50
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	Yes
Does the organization have a written conflict of interest policy?	Yes

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	Yes
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?	No
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	1,943

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$904,811		$10,255,532	$891,523,380
Program service revenue
Program service revenue 1	000000	$0	00	$0	$891,523,380
Program service revenue 2	000000	$0	00	$0	$0
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$5,040,570	$0
Dividends and interest from securities	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$2,726,006	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)	$73,868	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))	$2,415,088	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	Other professional, scientific, and technical services	$904,811	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$327,125	$8,901	$0
$294,711	$31,261	$0
$240,476	$31,140	$0
$219,762	$31,771	$0
$227,201	$13,619	$0

Total number of other employees paid over $50,000	916

Total number of other employees paid over $50,000

916

Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities	$2,115
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?	No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?	No
Did the organization maintain any donor advised funds?	No
Did the organization make any taxable distributions under section 4966?	No
Did the organization make a distribution to a donor, donor advisor, or related person?	No
The total number of donor advised funds owned at the end of the tax year	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Hospital, or a cooperative hospital service organization

	1999	2000	2001	2002	2003	2004	2005	2006
Support Schedule
Total	$0	$0	$0	$0	$0	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0	$0	$0	$0	$0	$0
Membership fees received	$0	$0	$0	$0	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$0	$0	$0	$0	$0	$0	$0	$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$0	$0	$0	$0	$0	$0	$0	$0
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0	$0	$0	$0
Other income	$0	$0	$0	$0	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

	Income	Expenses	Net
Unrelated Trade or Business Income (for 2008)
Total	$12,363,231	$0	$1,236,323
Gross receipts or sales less returns and allowances	$1,237,196	$0	$0
Cost of goods sold	$873	$0	$0
Gross profit	$1,236,323	$0	$1,236,323
Capital gain net income	$0	$0	$0
Net gain	$0	$0	$0
Capital loss deduction for trusts	$0	$0	$0
Income (loss) from partnerships and S corporations	$0	$0	$0
Rent income	$0	$0	$0
Unrelated debt-financed income	$0	$0	$0
Interest, annuities, royalties, and rents from controlled organizations	$0	$0	$0
Investment income of a section 501(c)(7), (9), or (17) organization	$0	$0	$0
Exploited exempt activity income	$0	$0	$0
Advertising income	$0	$0	$0
Other income	$0	$0	$0

Deductions Not Taken Elsewhere (for 2008)
Total deductions	$1,181,199
Compensation of officers, directors, and trustees	$0
Salaries and wages	$250,524
Repairs and maintenance	$44,440
Bad debts	$0
Interest	$0
Taxes and licenses	$6,966
Charitable contributions	$0
Depreciation	$11
Depletion	$0
Contributions to deferred compensation plans	$0
Employee benefit programs	$104,395
Excess exempt expenses	$0
Excess readership costs	$0
Other deductions	$774,863
Unrelated business taxable income	$54,124
Unrelated business taxable income before net operating loss deduction	$55,124
Net operating loss deduction	$0
Unrelated business taxable income before specific deduction	$55,124
Specific deduction	$1,000

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Palo Alto Medical Foundation For Health Care Research & Education	2350 W El Camino Real, Mountain View, CA 94040-6201	CA	1950-06	$1,661,152,093
2	Los Angeles Biomedical Research Institute At Harbor-Ucla Med Cntr, La Biomed	1124 W Carson St, Torrance, CA 90502-2006	CA	1954-01	$112,259,597
3	William K Warren Medical Research Center Inc	PO BOX 470372, Tulsa, OK 74147-0372	OK	1973-04	$111,474,900
4	J David Gladstone Institutes	1650 Owens St, San Francisco, CA 94158-2261	CA	1973-06	$106,896,927
5	The Feinstein Institute For Medical Research	972 Brush Hollow Road 5th Floor, Westbury, NY 11590-1740	NY	1985-01	$87,708,220
6	Veterans Medical Research Foundation Of Sd	3350 La Jolla Village Dr No 151a, San Diego, CA 92161-0002	CA	1987-10	$21,471,718
7	Huntington Medical Research Institutes	99 N El Molino Ave, Pasadena, CA 91101-1830	CA	1954-03	$15,302,199
8	International Anesthesia Research Society	44 Montgomery St Ste 1605, San Francisco, CA 94104-4703	CA	1953-12	$10,738,114
9	National Medical Technology Testbed Inc	11175 Campus Street Csp 11006, Loma Linda, CA 92354	CA	1995-01	$9,240,920
10	Sports Medicine Research And Testing Laboratory	560 S Arapeen Dr Ste 150 # A, Salt Lake Cty, UT 84108-1293	UT	2005-03	$5,791,657
11	Hibm Research Group Inc	21053 Devonshire St Ste 106, Chatsworth, CA 91311-8247	CA	2003-06	$328,352
12	Institute For Sexual Medicine Inc	5555 Reservoir Dr Ste 300, San Diego, CA 92120-5194	CA	2006-04	$96,779
13	Sunlight Nutrition And Health Research Center	Po Box 641603, San Francisco, CA 94164-1603	CA	2005-03	$52,555
14	Sunbelt Collaborative	4031 E Sunrise Dr Ste 101, Tucson, AZ 85718-4343	AZ	2009-06	$7,249
15	Gene Therapy Institute For Hispanic Medical Research	5515 Tufts St, Davis, CA 95618-7218	CA	2007-08	$0
16	Metis Research Inc	340 Pritchard Lane, Berkeley Springs, WV 25411	WV	2006-12	$0
17	Physicians Institute For Natural Medicine	1215 W Micheltorena St, Santa Barbara, CA 93101-4944	CA	2002-06	$0
18	Sacro Occipital Technique Organization Usa	771 South Main Street, Sparta, NC 28675	NC	2000-02	$0
19	Spectrum Institute	4715 Cordell Ave 5th Flr, Bethesda, MD 20814-3016	MD	2005-06	$0
20	Viking Cove Research Inc	40 Avon Meadow Lane, Avon, CT 06001-3753	CT	2008-04	$0

Number of organizations performing similar types of work

Arizona	1
California	12
Connecticut	1
Florida	1
Illinois	2
Indiana	1
Massachusetts	1
Maryland	2
Michigan	2
North Carolina	1

Nevada	1
New York	5
Oklahoma	1
Oregon	1
Pennsylvania	2
Texas	2
Utah	2
Washington	1
West Virginia	1

Total

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