City of Hope & Affiliates' rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.
| Program % | Cost to Raise $100 |
|---|---|
| 79% | $17 |
| Entity | Document Type | Tax ID |
|---|---|---|
| Beckman Research Institute of the City of Hope | IRS Form 990 | 95-3432210 |
| City of Hope National Medical Center | IRS Form 990 | 95-1683875 |
| City of Hope Medical Foundation | IRS Form 990 | 27-4803222 |
| The Translational Genomics Research Institute | IRS Form 990 | 75-3065445 |
| City of Hope Group Return | IRS Form 990 | 02-0765554 |
| City of Hope | IRS Form 990 | 95-3435919 |
| City of Hope & Affiliates | Audited Consolidated Financial Statements | Multiple |
|
Entity: Beckman Research Institute of the City of Hope Document Type: IRS Form 990 Tax ID: 95-3432210 |
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Entity: City of Hope National Medical Center Document Type: IRS Form 990 Tax ID: 95-1683875 |
|
Entity: City of Hope Medical Foundation Document Type: IRS Form 990 Tax ID: 27-4803222 |
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Entity: The Translational Genomics Research Institute Document Type: IRS Form 990 Tax ID: 75-3065445 |
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Entity: City of Hope Group Return Document Type: IRS Form 990 Tax ID: 02-0765554 |
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Entity: City of Hope Document Type: IRS Form 990 Tax ID: 95-3435919 |
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Entity: City of Hope & Affiliates Document Type: Audited Consolidated Financial Statements Tax ID: Multiple |
| Name | Title | Compensation | ||
|---|---|---|---|---|
| 1 | Robert W. Stone | President/CEO | $2,246,069 | |
| Note: Includes $1,039,014 bonus & incentive compensation. | ||||
| 2 | Steven Terry Rosen | Provost, Cancer Center Director | $1,530,510 | |
| 3 | Harlan Levine | CEO, COH Medical Foundation | $1,495,529 | |
|
1 Name: Robert W. Stone Title: President/CEO Compensation: $2,246,069 |
| Note: Includes $1,039,014 bonus & incentive compensation. |
|
2 Name: Steven Terry Rosen Title: Provost, Cancer Center Director Compensation: $1,530,510 |
|
3 Name: Harlan Levine Title: CEO, COH Medical Foundation Compensation: $1,495,529 |
| CharityWatch's rating of City of Hope & Affiliates includes the financial activities of the legal entities included in its audited consolidated financial statements for the fiscal year-ended 9/30/2017. These include the following public charities: (1) City of Hope (tax ID #95-3435919); (2) City of Hope National Medical Center (tax ID #95-1683875); (3) City of Hope Medical Foundation (tax ID #27-4803222); (4) Beckman Research Institute of the City of Hope (tax ID #95-3432210); (5) The Translational Genomics Research Institute (tax ID #75-3065445); and (6) the City of Hope Auxiliaries (tax ID #02-0765554). All significant intercompany accounts and transactions have been eliminated in the audited consolidated financial statements. |
| According to the City of Hope & Affiliates consolidated audit of September 30, 2017 (Note 7, Acquistions and Affiliations): "Effective November 17, 2016, City of Hope and TGen [The Translational Genomics Research Institute] entered into an Affiliation Agreement (Agreement), pursuant to which City of Hope became the sole corporate member of TGen. ... [T]he Affiliation is classified as an acquisition... "The Affiliation did not involve consideration and resulted in an excess of assets acquired over liabilities assumed which has been recorded as a contribution to City of Hope of $46,419,000..." |
| According to the City of Hope & Affiliates consolidated audit of September 30, 2017 (Note 9, Commitments and Contingencies, Capital Commitments (Unaudited)): "As of September 30, 2017, the [City of Hope] Affiliates have committed to spend approximately $39,989,000 through 2018 for building renovations, multiple campus facility renovations, and various information technology projects, including a clinical information system." |
| According to the City of Hope & Affiliates consolidated audit of September 30, 2017 (Note 2, Royalty and Licensing Revenue): "City of Hope and Affiliates receive royalties from Genentech based on Genentech's revenues in the previous quarter from sales of its own drugs, as well as from royalties and other amounts paid by its licensees. ... During 2017 and 2016, City of Hope and Affiliates received and recognized royalty and licensing revenue totaling $398,096,000 and $333,704,000, respectively, primarily from sales of drugs by Genentech and other licensees of monoclonal antibodies, including Rituxan, Herceptin, Avastin, Humira, and others using technology developed at the [Beckman Research] Institute..." According to the City of Hope & Affiliates consolidated audit of September 30, 2017 (Note 9, Commitments and Contingencies, Litigation and Administrative Actions): "City of Hope has been engaged in various proceedings involving challenges to the validity of U.S. Patent No. 6,331,415...(the Cabilly II patent) and U.S. Patent No. 7,923,221...(the Cabilly III patent...). Both Cabilly patents are co-owned by City of Hope and Genentech, and are set to expire in 2018. "On March 3, 2016, Mylan Pharmaceuticals Inc. (Mylan) filed a petition for inter parties review (IPR) of Cabilly II. "On July 7, 2016, Merck Sharp & Dohme Corp. (Merck) filed a lawsuit against City of Hope and Genentech in the United States District Court (USDC) challenging the validity of the Cabilly III patent and seeking a declaratory judgment that its antibody drug Keytruda...and/or its bezlotoxumab product do not infringe the patent. On the same date, Merck also challenged the patentability of the Cabilly II patent in a petition for IPR filed in the Patent Trademark Office (PTO)." [...] "In March 2017, a settlement was reached with Mylan, ending its challenge to the Cabilly II patent in the PTO. ... In May 2017, a settlement was reached with Merck ending Mercks' [sic] challenges to the Cabilly II patent in the PTO and to the Cabilly III patent in the USDC. City of Hope made no payment in connection with any of the settlements. "In May 2017, a settlement was reached with Merck ending its challenges to the Cabilly II patent in the PTO and to the Cabilly III patent in the USDC. City of Hope made no payment in connection with the settlement." |
| According to the City of Hope & Affiliates consolidated audit of September 30, 2017 (Note 14, Subsequent Events): "On October 6, 2017, Amgen Inc. filed a lawsuit against Genentech, Inc. and City of Hope in the USDC, seeking a declaratory judgment of patent non-infringement, invalidity and unforceability with respect to certain specified patents related to Genentech's antibody drug Avastin (collectively, the patents-in-suit). City of Hope co-owns with Genentech two of the patents-in-suit: the Cabilly II and Cabilly III patents. ... On the same date, Genentech and City of Hope filed a lawsuit against Amgen in the USDC for the District of Delaware for patent infringement, declaratory judgment and additional relief relating to the patents-in-suit. On October 18, 2017, Genentech and City of Hope filed a second lawsuit in the USDC for the District of Delaware against Amgen... The claims in the second lawsuit are in addition to those brought in the first. ... The proceedings are at a very early stage and the final outcome of the litigation cannot be determined at this time. If either the Cabilly II or Cabilly III patents is ultimately declared invalid, royalties under the two Cabilly patents could be significantly reduced or eliminated in the future, which could have a material adverse impact on the financial condition of City of Hope. "Effective December 15, 2017, the [City of Hope Medical] Foundation entered into definitive agreements pursuant to which the Foundation will own certain freestanding radiation therapy centers in Southern California and will form a new joint venture company to manage the centers, with an expected capital commitment of approximately $45,000,000. Management expects the transaction to close by the end of the...second fiscal quarter." |
| According to the City of Hope (COH) tax filing for the fiscal year ended September 30, 2017, COH reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III): Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7): "The City of Hope's executives and some key employees are eligible to receive incentive compensation under an annual incentive plan (AIP) tied to two (2) key indicators and two or more individual objectives. The key indicators reflect key areas of strategic focus and the exempt healthcare mission of the City of Hope and Affiliates and are both financial and non-financial. The potential incentive compensation is based on a weighted average among all indicators and is paid as a percentage of each individual participant's base compensation. The key indicators are weighted at 30%, while the individual objectives are weighted at 70%. The AIP is under the control of and administered by the independent directors serving on the executive compensation and governance committee... "The City of Hope has an executive long term incentive plan (LTI) that is designed to drive long-term organizational performance and transformation by aligning executives with the multi-year strategic plan and incentivizing them for achieving key organizational and strategic objectives and goals with three-year vesting periods. The LTI also provides a means for retaining key executive talent..." COH reports "Bonus & incentive compensation" payments to 14 individuals in calendar year 2016 (IRS Form 990, Schedule J, Part II). The top three reported "Bonus & incentive compensation" payments, including payments from COH's related organizations, are: (1) $1,039,014 paid to Robert W. Stone, President & CEO; (2) $621,744 paid to Harlan Levine, Chief Executive, COH Medical Foundation; and (3) $588,692 paid to Steven Terry Rosen, Provost, Cancer Center Director. [See the "Salaries" section of the City of Hope & Affiliates rating for the reported total compensation paid to Robert Stone, Harlan Levine, and Steven Rosen.] The reported "Bonus & incentive compensation" payments from COH and its related organizations to the remaining 11 individuals in calendar year 2016 ranged from $489,514 to $57,986, with associated reported total compensation ranging from $1,187,903 to $350,619. |
