Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
Ludwig Institute for Cancer Research
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
666 Third Avenue 28th Floor
 
Room/suite
City or town, state or country, and ZIP + 4
New York, NY10017
D Employer identification number

23-7121131
E Telephone number

G Gross receipts $ 110,318,092
F Name and address of principal officer:
Edward A McDermott Jr
666 Third Avenue 28th Floor
new york,NY10017
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.licr.org
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1971
M State of legal domicile: SZ
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD IS A GLOBAL NON-PROFIT INSTITUTE COMMITTED TO IMPROVING THE UNDERSTANDING AND CONTROL OF CANCER THROUGH INTEGRATED LABORATORY AND CLINICAL RESEARCH.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 12
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 10
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 162
6 Total number of volunteers (estimate if necessary) .... 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 0
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 0
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 95,076,071 101,539,488
9 Program service revenue (Part VIII, line 2g) ......... 0 0
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 5,393,827 348,529
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 10,537,505 8,430,075
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 111,007,403 110,318,092
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 0 0
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 54,939,589 60,474,159
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet2,592,445    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 55,694,984 52,585,221
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 110,634,573 113,059,380
19 Revenue less expenses. Subtract line 18 from line 12...... 372,830 -2,741,288
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 46,583,754 44,029,151
21 Total liabilities (Part X, line 26)............ 39,447,902 39,628,254
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 7,135,852 4,400,897
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD IS A GLOBAL NON-PROFIT INSTITUTE COMMITTED TO IMPROVING THE UNDERSTANDING AND CONTROL OF CANCER THROUGH INTEGRATED LABORATORY AND CLINICAL RESEARCH.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 82,717,434 including grants of $   ) (Revenue $   )
Laboratory Research Leading to Clinical Applications - SEE SCHEDULE O.
4b (Code:   ) (Expenses $ 16,847,756 including grants of $   ) (Revenue $   )
Clinical Research - SEE SCHEDULE O.
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 99,565,190
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
No
5
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? If “Yes,” complete Schedule C, Part III........................
5
 
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
 
No
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
 
No
f
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)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II.. Click to see attachment
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III.. Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..
21
 
No
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III.....
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
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? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
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? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II........................... Click to see attachment
26
Yes
 
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
 
No
c
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 owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule MClick to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............ Click to see attachment
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I........................... Click to see attachment
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........ Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2........... Click to see attachment
36
 
No
37
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? If “Yes,” complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
44
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter 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 .....................
2a
162
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
 
 
4a
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 or securities account)?.......................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletAS , BE , BR , FI , LI , SW , SZ , UK
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
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?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
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?....................
7a
 
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
 
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
12
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
10
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
Yes
 
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
Yes
 
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
Yes
 
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
Yes
 
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
Yes
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
 
No
14
Does the organization have a written document retention and destruction policy? .........
14
 
No
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
CA , NY
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
MARTIN BORN
LICR LTD STADELHOFERSTR 22
ZURICH   CH-8001
SZ
(044) 267-6262
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) Edward a McDermott Jr
Director, President
 24.0 X   X       0 735,671 180,407
(2) John D Gordan III
Director
 3.0 X           9,433 68,696 0
(3) Sir Derek Roberts
Director, vice chairman
 2.0 X           9,433 68,696 0
(4) Alfred Berger
Director
 2.0 X           9,433 30,000 0
(5) Olivier R E Dunant
Director
 2.0 X           9,433 30,000 0
(6) dr Adolf E Kammerer
Director
 2.0 X           9,433 30,000 0
(7) John Notter
Director,chairman of the board
 8.0 X           24,762 84,674 0
(8) Professor Jane Royston
Director
 2.0 X           9,433 30,000 0
(9) Dr Andrew Simpson
Director, Scientific Director
 60.0 X   X       551,641 0 185,173
(10) PROFESSOR SIR DAVID LANE
DIRECTOR AS OF 12/6/10
 2.0 X           0 0 0
(11) professor samuel hellman
director
 2.0 X           9,433 68,696 0
(12) STEPHEN BOLLENBACH
DIRECTOR
 2.0 X           9,433 30,000 0
(13) Dr Jonathan Skipper
Exec. Dir. Tech Development
 45.0     X       456,913 0 50,861
(14) Dr Richard Kolodner
Exec Dir Lab Sci until 6/30/10
 60.0     X       438,744 0 34,156
(15) Richard D J Walker
Chief Financial Officer
 43.0     X       413,875 0 68,172
(16) Dr Eric W Hoffman
Exec. Dir. Operations
 50.0     X       409,708 0 50,840
(17) Dr ROBERT STRAUSBERG
Exec. Dir. of Collab. Sciences
 45.0     X       322,627 0 49,553
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) Dr Webster Cavenee
Branch Director
 60.0       X     461,671 0 42,886
(19) Dr Ralph Venhaus
CHIEF MEDICAL OFFICER
 45.0         X   299,950 0 51,049
(20) Dr Don Cleveland
Group Leader
 55.0         X   384,121 0 40,180
(21) Dr MARC ACHEN
GROUP LEADER until 6/30/10
 45.0         X   382,324 0 12,065
(22) Dr MARGARET HIBBS
GROUP LEADER until 6/30/10
 45.0         X   359,808 0 11,815
(23) Dr STEVEN STACKER
GROUP LEADER UNTIL 6/30/10
 45.0         X   371,662 0 11,940
(24) Dr Lloyd J Old
Director UNTIL 7/1/09
 45.0           X 263,082 38,696 35,721
(25) Dr Antony Burgess
Branch Director until 7/15/09
 55.0           X 186,660 0 44,810










1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 5,403,012 1,215,129 869,628
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet78
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
University of Oxford
WELLINGTON SQUARE
OXFORD,0OX1 2JD
UK 		Research Services 4,512,447
Memorial Sloan-Kettering Cancer Cen
1275 York Avenue
NEW YORK,NY10065 		Research Services 1,901,906
The Ludwig Group Inc
666 Third Avenue 28th Floor
NEW YORK,NY10017 		Management Services 1,342,063
MILBANK TWEED HADLEY MCCLOY LLP
1 CHASE MANHATTAN PLAZA
NEW YORK,NY100051413 		LEGAL SERVICES 467,284
monash university
CASHIER - BUILDING 10
VICTORIA,03800
AS 		Research Services 443,292
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet39
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d 57,414,352
e Government grants (contributions)1e 24,835,698
f All other contributions, gifts, grants, and
similar amounts not included above1f 		19,289,438
g Noncash contributions included in lines 1a-1f:$ 8,424,447
h Total. Add lines 1a-1f.......MediumBullet 101,539,488
Program Service Revenue Business Code
2a
b
c
d
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 0
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 303,681     303,681
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties............MediumBullet 8,429,738     8,429,738
(i) Real (ii) Personal
6a Gross Rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory   44,848
b Less: cost or other basis and sales expenses    
c Gain or (loss)   44,848
d Net gain or (loss)..........MediumBullet 44,848     44,848
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0      
Miscellaneous Revenue Business Code
11a EXPENSE REIMBURSEMENTS 900,099 337     337
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 337
12 Total revenue. See Instructions....MediumBullet 110,318,092     8,778,604
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 0  
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 3,772,760 2,253,408 1,169,558 349,794
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 44,824,637 37,323,010 6,138,656 1,362,971
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 3,941,046 3,117,204 687,995 135,847
9 Other employee benefits ....... 5,123,092 4,615,899 362,126 145,067
10 Payroll taxes ........... 2,812,624 2,378,667 338,102 95,855
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 760,128   760,128  
c Accounting ........... 457,213   457,213  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 2,142,261 1,545,074 581,169 16,018
12 Advertising and promotion .... 0      
13 Office expenses ....... 1,486,589 975,453 455,452 55,684
14 Information technology ...... 1,740,325 1,414,925 260,024 65,376
15 Royalties .. 914,323 914,323    
16 Occupancy ........... 8,517,028 6,959,691 1,241,832 315,505
17 Travel ............ 1,677,600 1,137,798 492,048 47,754
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 188,284 176,373 9,337 2,574
20 Interest ........... 85,696   85,696  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 0      
23 Insurance .............. 508,343 264,162 244,181  
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a LABORATORY EXPENSES 16,028,692 16,025,644 3,048  
b COLLABORATIVE PROGRAMS 10,114,653 10,114,653    
c EQUIPMENT 3,496,180 3,484,280 11,900  
d CLINICAL TRIALS 2,459,244 2,459,244    
e EXCHANGE ADJUSTMENTS -2,513,355 36,976 -2,550,331  
f All other expenses 4,522,017 4,368,406 153,611  
25 Total functional expenses. Add lines 1 through 24f 113,059,380 99,565,190 10,901,745 2,592,445
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 1,463,798 1 3,516,200
2 Savings and temporary cash investments ....... 27,674,281 2 23,936,430
3 Pledges and grants receivable, net ......... 3,291,411 3 2,626,513
4 Accounts receivable, net ......... 2,405,963 4 1,451,451
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L .......... 362,501 5 333,500
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net ............. 212,473 7 192,238
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 2,787,153 9 3,037,336
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a  
b Less: accumulated depreciation. ..... 10b     10c  
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ...... 5,103,000 12 5,103,000
13 Investments—program-related. See Part IV, line 11 .. 1,705,903 13 1,891,533
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 1,577,271 15 1,940,950
16 Total assets. Add lines 1 through 15 (must equal line 34)... 46,583,754 16 44,029,151
Liabilities 17 Accounts payable and accrued expenses . 26,525,818 17 26,958,112
18 Grants payable ..........   18  
19 Deferred revenue .......... 12,922,084 19 12,670,142
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D.....   25  
26 Total liabilities. Add lines 17 through 25..... 39,447,902 26 39,628,254
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .....   27  
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ..... 58,038 30 64,371
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds 7,077,814 32 4,336,526
33 Total net assets or fund balances ..... 7,135,852 33 4,400,897
34 Total liabilities and net assets/fund balances ..... 46,583,754 34 44,029,151
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
110,318,092
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
113,059,380
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
-2,741,288
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
7,135,852
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
6,333
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
4,400,897
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990: SEE SCHED O
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
see detail above,
  ,
New York, NY  
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.            
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
Multi-disciplinary Centre of Oncology, Lausanne, Switzerland. University Clinic of St. Luc, Brussels, Belgium. The Royal Melbourne Hospital, Melbourne, Australia. Austin Health, Melbourne, Australia. Alemao Oswaldo Cruz, Sao Paulo, Brazil. Karolinska Universitetssjukhuset, Stockholm, Sweden. Akademiska Sjukhuset, Uppsala, Sweden. Memorial Sloan-Kettering Cancer Center, New York. University of California, San Diego - School of Medicine, San Diego. Krankenhaus Nordwest, Frankfurt am Main, Germany. Universitatsspital Zurich, Zurich, Switzerland.
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
Ludwig Institute for Cancer Research
  		Employer identification number

23-7121131
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
Ludwig Institute for Cancer Research
  		Employer identification number

23-7121131
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
Ludwig Institute for Cancer Research
  		Employer identification number

23-7121131
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............        
d Equipment ................        
e Other .................        
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet  
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) UNIVERSE TANKSHIPS, INC. SHRS 		5,103,000 C








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet 5,103,000
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  








Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1  
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2  
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3  
4 Net unrealized gains (losses) on investments .......................... 4  
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8  
9 Total adjustments (net). Add lines 4 - 8 ............................. 9  
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10  
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV): ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5  
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV): ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5  
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE F
(Form 990)

Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,
Part IV, line 14b, 15, or 16.
Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
General Information on Activities Outside the United States. Complete if the organization answered
“Yes” to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of the grants or
assistance, the grantees' eligibility for the grants or assistance, and the selection criteria used to award
the grants or assistance? ...................................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of grant funds outside the
United States.
3
Activites per Region. (Use Part V if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees or agents in region or independent contractors (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total
expenditures for region/investments
in region
East Asia and the Pacific 2 230 Program Services Medical research 24,404,704
South America 1 63 Program Services Medical research 6,469,762
Europe (Including Iceland and Greenland) 5 217 Program Services medical research 41,429,496
Russia and the Newly Independent States 0 0 Program Services MEDICAL RESEARCH 25,000
Europe (Including Iceland and Greenland) 1 14 Program Services management 2,840,396
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total ..... 9 524 75,169,358
b Total from continuation sheets to Part I ...      
c Totals (add lines 3a and 3b) 9 524 75,169,358
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990,
Part IV, line 15, for any recipient who received more than $5,000. Check this box if no one recipient received more than $5,000 ........ MediumBullet
Use Part V if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount of
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2
Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .....MediumBullet
 
3
Enter total number of other organizations or entities ........................MediumBullet
 
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Use Part V if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926 (see instructions for Form 926).................
2 Did the organization have an interest in a foreign trust during the tax year? If " Yes," the organization may be required to file Form 3520 and/or Form 3520-A. (see instructions for Forms 3520 and 3520-A)..........
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with respect to Certain Foreign Corporations. (see instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes," the organization may be required to file Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see instructions for Form 8621)
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with respect to Certain Foreign Partnerships. (see instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see instructions for Form 5713)................................................
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 5
Part V
Supplemental Information
Complete this part to provide the information (see instructions) required in Part I, line 2, and any additional information.
Identifier ReturnReference Explanation
PART I, LINE 3 - Accounting Method used for reporting expenditure   The statutory financial statements have been prepared in accordance with the provisions of the Swiss Code of Obligations. With regard to expenditure, the following applies: - The Institute records expenditure by currency in the accounts. INSTITUTE CURRENCIES ARE: AUD, BRL, CHF, EUR, GBP, SEK AND USD. - Any expenditure incurred in another currency is converted into one of the Institute's currencies using the yearly average rates as published by the Swiss Tax Authorities. - For the purpose of producing statutory financial statements in USD, expenditure in currencies other than USD are converted using the yearly average rates as published by the Swiss tax authorities. - License fees and royalties are accounted for on the modified cash basis. - Expenditure on equipment and other assets and leasehold improvements is charged in full against revenue in the year it is incurred.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2010
Additional Data


Software ID:  
Software Version:  



Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) Edward a McDermott Jr (i)
(ii)		 0
735,671 		0
0 		0
0 		0
154,683 		0
25,724 		0
916,078 		0
0
(2) Dr Lloyd J Old (i)
(ii)		 260,154
38,696 		0
0 		2,928
0 		25,725
0 		9,996
0 		298,803
38,696 		0
0
(3) Dr Andrew Simpson (i)
(ii)		 508,014
0 		0
0 		43,627
0 		159,808
0 		25,365
0 		736,814
0 		0
0
(4) Dr Jonathan Skipper (i)
(ii)		 426,535
0 		0
0 		30,378
0 		25,725
0 		25,136
0 		507,774
0 		0
0
(5) Dr Richard Kolodner (i)
(ii)		 417,805
0 		0
0 		20,939
0 		25,725
0 		8,431
0 		472,900
0 		0
0
(6) Richard D J Walker (i)
(ii)		 409,889
0 		0
0 		3,986
0 		56,235
0 		11,937
0 		482,047
0 		0
0
(7) Dr Antony Burgess (i)
(ii)		 186,660
0 		0
0 		0
0 		44,810
0 		0
0 		231,470
0 		0
0
(8) Dr Webster Cavenee (i)
(ii)		 438,408
0 		0
0 		23,263
0 		25,725
0 		17,161
0 		504,557
0 		0
0
(9) Dr Eric W Hoffman (i)
(ii)		 385,359
0 		0
0 		24,349
0 		25,725
0 		25,115
0 		460,548
0 		0
0
(10) Dr Ralph Venhaus (i)
(ii)		 299,950
0 		0
0 		0
0 		25,725
0 		25,324
0 		350,999
0 		0
0
(11) Dr Don Cleveland (i)
(ii)		 364,317
0 		0
0 		19,804
0 		25,725
0 		14,455
0 		424,301
0 		0
0
(12) Dr ROBERT STRAUSBERG (i)
(ii)		 322,627
0 		0
0 		0
0 		25,725
0 		23,828
0 		372,180
0 		0
0
(13) Dr MARC ACHEN (i)
(ii)		 382,324
0 		0
0 		0
0 		12,065
0 		0
0 		394,389
0 		0
0
(14) Dr MARGARET HIBBS (i)
(ii)		 359,808
0 		0
0 		0
0 		11,815
0 		0
0 		371,623
0 		0
0
(15) Dr STEVEN STACKER (i)
(ii)		 371,662
0 		0
0 		0
0 		11,940
0 		0
0 		383,602
0 		0
0

Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Part I, Line 1a   The Institute's travel policy allows first-class air travel only under extraordinary circumstances (i.e., medical reasons or where the journey is absolutely essential and there is no other seating using reasonable routing). First class train travel is allowed for all staff where the journey is greater than two hours. This benefit is not included in compensation. On the occasions that call for the spouse or partner of members of the Board or Management to be invited to attend an Institute meeting or function, expenses for these guests will be reimbursed on the same conditions (including class of travel) as the member of the Board or Management as described in our corporate travel policy. Part I, Line 3 Edward McDermott is employed by The Ludwig Group, Inc. which provides management services to the Ludwig Institute for Cancer Research Ltd and other organizations. The Institute is invoiced by The Ludwig Group, Inc. for the provision of services based on time records maintained by the Ludwig Group, Inc. The total level of compensation for Edward McDermott, which is paid by The Ludwig Group, Inc. under an employment agreement, is set and approved by both the Compensation Committee of the Ludwig Institute and the Board of Directors of LICR Fund, Inc. which is also in receipt of management services from the Ludwig Group, Inc. In setting the level of compensation, the Institute Compensation Committee and the Board of directors of LICR Fund, Inc. arrange for independent compensation surveys and comparisons to compensation paid by other organizations using data available from the other organizations' Form 990s. Using this information, the Compensation Committee sets the level of compensation and gives to the Board of Directors of the Ludwig Group, Inc. its concurrence to paying compensation at this level. PART I, LINE 4A MARC ACHEN, MARGARET HIBBS AND STEVEN STACKER SEPARATED FROM THE ORGANIZATION IN 2010. ACCORDING TO THEIR SEVERANCE AGREEMENTS, THEY WILL RECEIVE SEVERANCE PAYMENTS OVER A TWO-YEAR PERIOD. THE FOLLOWING SEVERANCE PAYMENTS WERE MADE IN 2010. MARC ACHEN - USD 234,485 MARGARET HIBBS - USD 234,485 STEVEN STACKER - USD 250,116 Part I, Line 4b During 2010, Edward McDermott participated in a supplemental nonqualified retirement plan maintained by The Ludwig Group, Inc., a related organization of the Institute. The purpose of The Ludwig Group, Inc.'s Supplemental Pension Plan is to provide certain supplemental benefits to certain select management or highly compensated employees who are participants in the Employee Pension Plan of The Ludwig Group, Inc. All benefits payable under the Plan, which is intended to constitute both an unfunded excess benefit plan under Section 3(36) of Title I of the Employee Retirement Income Security Act of 1974, as amended, ("ERISA"), and a nonqualified, unfunded deferred compensation plan for a select group of management or highly compensated employees under ERISA, are payable from the general assets of The Ludwig Group, Inc. The Ludwig Group, Inc. may establish and fund a trust in order to aid it in providing benefits due under the plan. WITHIN THE AMOUNT DISCLOSED ON PART VII, SECTION A, LINE 1A COLUMN F, USD 146,433 IS ATTRIBUTABLE TO THIS PLAN. DURING 2010, ANDREW SIMPSON PARTICIPATED IN THE SENIOR EXECUTIVE RETIReMENT PLAN MAINTAINED BY THE INSTITUTE. THE PURPOSE OF THE INSTITUTE'S SENIOR EXECUTIVE RETIREMENT PLAN IS TO PROVIDE CERTAIN SUPPLEMENTAL BENEFITS TO CERTAIN SELECT MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES WHO ARE PARTICIPANTS IN THE EMPLOYEE PENSION PLAN OF THE LUDWIG INSTITUTE. WITHIN THE AMOUNT DISCLOSED ON PART VII, SECTION A, LINE 1A COLUMN F, USD 134,083 IS ATTRIBUTABLE TO THIS PLAN. Part II, Column B Column (B) includes compensation paid outside the U.S. to non-U.S. Persons for which no Form W-2 or 1099-MISC has been issued.
Schedule J (Form 990) 2010

Additional Data


Software ID:  
Software Version:  
Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
(1) Dr Webster Cavenee
Housing Loan 		  X 750,000 267,501   No Yes   Yes  
(2) Dr Richard Kolodner
Housing Loan 		  X 100,000 66,000   No   No Yes  
Total ...............Small Bullet $ 333,501
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Ludwig Group Inc common officer 3,022,848 Payment for Management svcs   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
NonCash Contributions
Right pointing arrow large imageComplete if the organization answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of Contributions or items contributed 		(c)
Contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded .        
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( Services ) X 35 5,345,318 cost & estimates
26 Other Right pointing arrow large image ( Laboratory costs ) X 16 2,195,799 costs
27 Other Right pointing arrow large image ( research equipment ) X 10 460,006 cost & estimates
28 Other Right pointing arrow large image ( occupancy costs ) X 2 304,196 costs
Other Right pointing arrow large image ( travel costs ) X 1 40 costs
Other Right pointing arrow large image ( conference costs ) X 5 93,254 costs
Other Right pointing arrow large image ( other operating expenses ) X 5 25,834 costs
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
 
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1-28 that it
must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell non-cash
contributions? ............................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization did not report revenues in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) 2010
Schedule M (Form 990) 2010
Page 2
Part II
Supplemental Information. Complete this part to provide the information required by Part I, lines 30b,
32b, and 33. Also complete this part for any additional information.
Identifier Return Reference Explanation
SCHEDULE M, PART I   THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS RECEIVED DURING THE YEAR. Additional Information to Part I, Line 25 The Non-cash figure consists mainly of stipends and grants and related laboratory consumables received directly by staff working in the institute's laboratories for the benefit of the institute. The basis for valuation is, where possible, the actual amount received by the person concerned or, where this information is not available, a reasonable estimate of the person's stipend or grant, etc.
Schedule M (Form 990) 2010
Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Identifier Return Reference Explanation
FORM 990, PART III   LABORATORY RESEARCH LEADING TO CLINICAL APPLICATIONS - LINE 4A THE PROSPECTS FOR CONTROLLING CANCER WILL ONLY IMPROVE THROUGH AN ONGOING COMMITMENT TO INNOVATIVE RESEARCH THAT HAS A SINGULAR FOCUS ON THE UNDERSTANDING OF CANCER ONSET AND PROGRESSION, AND THE IDENTIFICATION AND CHARACTERIZATION OF TOOLS AND TARGETS FOR NEW PROGNOSTIC, DIAGNOSTIC AND THERAPEUTIC MODALITIES. THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD (LICR) ENGAGES LEADING SCIENTISTS AND CLINICIANS IN AN INTEGRATED LABORATORY AND CLINICAL RESEARCH EFFORT TO UNDERSTAND AND CONFRONT THE GLOBAL CHALLENGE OF CANCER. LICR LABORATORY RESEARCH SEEKS TO EXTEND ITS KNOWLEDGE OF GENES, PROTEINS, CELLS AND CELLULAR PROCESSES INVOLVED IN CANCER ONSET AND PROGRESSION. THIS UNDERSTANDING OF THE MACROMOLECULAR AND CELLULAR ABERRATIONS IN CANCER THEN ALLOWS LICR INVESTIGATORS TO FURTHER THEIR LABORATORY WORK TO IDENTIFY, CHARACTERIZE AND TEST NEW TOOLS AND TARGETS FOR THEIR POTENTIAL AS CLINICAL APPLICATIONS. SUBSTANTIALLY ALL LABORATORY RESEARCH FINANCED BY LICR IS CARRIED OUT BY THE INSTITUTE'S OWN APPOINTED RESEARCH STAFF OR THROUGH RESEARCH COLLABORATIONS INVOLVING LICR STAFF AND EXTERNAL INVESTIGATORS. THE RESEARCH STAFFS OF THE INSTITUTE WERE ORGANIZED IN BRANCHES WITH ONE BRANCH EACH IN BELGIUM, BRAZIL, SWITZERLAND AND THE UK, AND TWO EACH IN AUSTRALIA, SWEDEN AND THE USA. THE INSTITUTE EMPLOYED AROUND 730 SCIENTISTS, CLINICIANS AND SUPPORT PERSONNEL AT DECEMBER 31, 2010, WITH EACH BRANCH STAFFED TO ENSURE THAT COMPLEX CANCER RESEARCH PROBLEMS CAN BE ADDRESSED BY A CRITICAL MASS OF INVESTIGATORS HAVING EXPERTISE IN SEVERAL SCIENTIFIC DISCIPLINES. THE BRANCHES HAVE BEEN ESTABLISHED IN ASSOCIATION WITH A LEADING NON-PROFIT UNIVERSITY, HOSPITAL AND/OR RESEARCH INSTITUTE TO FACILITATE CLOSE COLLABORATION BETWEEN LABORATORY AND CLINICAL SCIENTISTS AND TO PROVIDE ACCESS TO THE WIDEST RANGE OF SCIENTIFIC, TECHNOLOGICAL AND CLINICAL RESOURCES. DURING 2010, THE INSTITUTE OPERATED TEN BRANCHES IN SEVEN COUNTRIES IN AUSTRALASIA, EUROPE, AND NORTH AND SOUTH AMERICA, AND WORKED ON COLLABORATIVE PROGRAMS WITH NUMEROUS AFFILIATES IN OTHER COUNTRIES. A LIMITATION OF THE ACADEMIC MEDICAL RESEARCH-IN WHICH FUNDING IS GIVEN TO INDIVIDUAL INVESTIGATORS BY GOVERNMENT AGENCIES AND NOT THE INVESTIGATOR'S ACADEMIC INSTITUTION-IS THAT RESEARCH PROJECTS ARE TOO FREQUENTLY FRAGMENTED, OVERLAPPING, AND LACKING IN STRATEGIC COORDINATION. RESEARCH ALSO BECOMES PREDOMINANTLY DEFINED BY WHAT CAN BE ACHIEVED IN A SINGLE LABORATORY WITHIN A FUNDING CYCLE OF, TYPICALLY, THREE YEARS. IN CONTRAST, LICR FUNDS 60% OF THE COST OF THE RESEARCH THAT IT CONDUCTS, SUPPORT THAT IS DRAWN FROM THE INSTITUTE'S SEPARATELY HELD INVESTMENT PORTFOLIO. THIS RELIABLE AND FLEXIBLE FUNDING MODEL GIVES LICR INVESTIGATORS THE FREEDOM TO TACKLE SPECULATIVE, LONG-TERM RESEARCH, AND ENCOURAGES AND ENABLES MULTIDISCIPLINARY TEAMS OF INVESTIGATORS TO TACKLE LARGER, MORE COMPLEX CANCER CHALLENGES. A VAST AMOUNT OF OUR UNDERSTANDING ABOUT CANCER HAS COME FROM THE DETAILED AND SYSTEMATIC ANALYSIS OF THE STRUCTURE, FUNCTION AND RELATIONSHIPS OF SINGLE MOLECULES. ALTHOUGH THERE IS STILL MUCH TO BE LEARNED FROM THIS APPROACH, LICR BELIEVES IT IS IMPERATIVE TO ALSO UNDERTAKE CELLULAR AND CLINICAL STUDIES OF THE HUMAN DISEASE IN ORDER TO MAKE CONTINUED AND SUBSTANTIVE PROGRESS IN OUR UNDERSTANDING AND CONTROL OF CANCER. WE NOW KNOW THAT THE TERM "CANCER" ENCOMPASSES A RANGE OF DIFFERENT DISEASES, AND THAT THERE CAN BE SUBSTANTIAL DIFFERENCES IN DISEASE PROGRESSION AND/OR TREATMENT RESPONSE BETWEEN INDIVIDUALS WITH ANY ONE TYPE OF CANCER. WE ALSO NOW KNOW THAT TUMORS ARE COMPOSED OF MULTIPLE, WHOLE HUMAN CELLS AND MUST BE CONSIDERED AS ORGANS HAVING THEIR OWN TISSUE STRUCTURE AND ENVIRONMENT. THUS LICR AIMS TO INTEGRATE STUDIES TAKING THESE FACTORS INTO ACCOUNT THROUGH ACCESSING CLINICAL SPECIMENS. IN ORDER TO FULFILL ITS MISSION TO IMPROVE BOTH THE UNDERSTANDING AND CONTROL OF CANCER, LICR IS COMMITTED TO SEEKING TO EXPLOIT NEW KNOWLEDGE FOR IMPROVED CLINICAL CARE. THIS IS DONE BY DEVELOPING EXPERIMENTAL THERAPEUTIC AGENTS AND BIOMARKERS BASED ON NOVEL EXPERIMENTAL FINDINGS. THE THERAPEUTIC AGENTS CAN BE SMALL MOLECULE INHIBITORS, TUMOR-TARGETING ANTIBODIES OR IMMUNOMODULATORY CANCER VACCINES. THESE ARE USED BOTH TO ENHANCE DISCOVERY-ORIENTED RESEARCH AND TO PROBE CLINICAL UTILITY. THE PROTECTION AND LICENSING OF INTELLECTUAL PROPERTY (IP) GENERATED BY RESEARCH DISCOVERIES AND TECHNOLOGY DEVELOPMENT IS FUNDAMENTAL TO LICR'S COMMITMENT TO TRANSLATE ITS DISCOVERIES INTO APPLICATIONS FOR HUMAN BENEFIT. WITHOUT A PROPRIETARY POSITION, FOR-PROFIT COMPANIES WILL NOT INVEST IN THE CLINICAL DEVELOPMENT, MANUFACTURE, DISTRIBUTION, MARKETING AND SALES REQUIRED TO TRANSLATE LICR DISCOVERIES INTO NEW THERAPIES FOR CANCER PATIENTS. ACCORDINGLY, LICR PATENTS ITS DISCOVERIES SUCH THAT ITS IP IS MANAGED FOR PUBLIC BENEFIT; THE IP IS MADE FREELY-AVAILABLE TO THE ACADEMIC RESEARCH COMMUNITY, AND A FINANCIAL RETURN CAN BE EXPECTED FOR THE COMPANY THAT INVESTS IN THE THERAPY'S SUCCESSFUL DEVELOPMENT AND, POTENTIALLY, FOR LICR TO FUND FURTHER RESEARCH EFFORTS. IN 2010, LICR INVESTIGATORS PUBLISHED 314 PRIMARY RESEARCH ARTICLES AND 54 REVIEWS, BOOK CHAPTERS AND/OR COMMENTARIES. THESE PUBLICATIONS COVERED A RANGE OF CANCER RESEARCH DISCOVERIES IN THE FIELDS OF GENETICS, GENOMICS, CELL BIOLOGY, SIGNAL TRANSDUCTION, PROTEOMICS, IMMUNOLOGY, BIOINFORMATICS, AND TARGETED THERAPY DEVELOPMENT. IN 2010, 14 PATENTS WERE ISSUED AND 25 WERE FILED IN THE USA BASED ON LICR DISCOVERIES, AND A FURTHER 6 NEW INTERNATIONAL PATENT APPLICATIONS WERE FILED AS WELL. THESE PATENTS COVER RESEARCH DISCOVERIES RELATING TO GROWTH FACTORS, CYTOKINES, SIGNALING MOLECULES, ANTIBODIES AND HUMAN TUMOR ANTIGENS. CLINICAL RESEARCH - LINE 4B LABORATORY RESEARCH ON ISOLATED CELLS AND MACROMOLECULES WILL NOT ALONE PRODUCE THE DIAGNOSTIC AND THERAPEUTIC MODALITIES REQUIRED FOR CANCER CONTROL. TO FURTHER UNDERSTAND THE DISEASE AND THE BODY'S REACTION TO IT, AND TO EXPLORE THE THERAPEUTIC POTENTIAL OF DISCOVERIES, CLINICAL RESEARCH-THE ANALYSIS OF PATIENT SAMPLES AND POTENTIAL THERAPIES IN CLINICAL TRIALS-MUST ALSO BE CONDUCTED. RECOGNIZING THIS, LICR TAKES RESPONSIBILITY FOR THE ENTIRE DISCOVERY CONTINUUM, FROM THE LABORATORY TO THE CLINIC. MANY UNIVERSITIES AND ACADEMIC RESEARCH INSTITUTES LACK THE EXPERTISE, INFRASTRUCTURE AND RESOURCES TO INTRODUCE THEIR LABORATORY DISCOVERIES INTO THE CLINIC. TO BRIDGE THAT DIVIDE THEY TURN THEIR WORK PRODUCT OVER TO COMPANIES THAT ENGAGE IN DRUG DEVELOPMENT, A PROCESS DRIVEN BY PRIMARILY COMMERCIAL CONSIDERATIONS: TIME TO PRODUCT LAUNCH AND SHARE OF MARKET CAPTURED. BETWEEN THE WORLDS OF LABORATORY DISCOVERY AND THERAPEUTIC UTILITY, THERE IS A MISSING LINK THAT INTERRUPTS THE EFFICIENT EXPLORATION OF KNOWLEDGE FOR HUMAN BENEFIT. THAT MISSING LINK IS CLINICAL RESEARCH. LICR IS CONVINCED THAT THE SAME SYSTEMATIC, INVESTIGATIVE RIGOR THAT YIELDED THE LABORATORY DISCOVERY IN THE FIRST PLACE SHOULD BE APPLIED IN EARLY-PHASE CLINIC TRIALS TO ASSESS A DISCOVERY'S THERAPEUTIC POTENTIAL. THE INSTITUTE HAS, THEREFORE, COMMITTED THE RESOURCES AND MARSHALLED THE CAPABILITIES THAT ALLOW IT TO EVALUATE ITS PROMISING BASIC DISCOVERIES IN FIRST-IN-MAN CLINICAL STUDIES. LICR HAS LICENSING INTERACTIONS WITH BIOTECHNOLOGY AND PHARMACEUTICAL COMPANIES THAT ALLOW THE INSTITUTE TO OBTAIN PROPRIETARY INVESTIGATIONAL AGENTS AND CLINICALLY EVALUATE WHETHER THESE AGENTS MIGHT COMPLEMENT THE THERAPEUTIC POTENTIAL OF THE INSTITUTE'S OWN DISCOVERIES. LICR'S INTERACTIONS WITH INDUSTRY ARE DESIGNED TO PROTECT THE ETHOS AND INTEGRITY OF THE INSTITUTE AND TO ENSURE THAT ITS DISCOVERIES ARE ACTIVELY PURSUED AS PROGNOSTIC, DIAGNOSTIC AND/OR THERAPEUTIC AGENTS FOR HUMAN BENEFIT. SEVENTEEN INSTITUTE-SPONSORED CLINICAL TRIALS WERE ONGOING IN 2010. FOUR ADDITIONAL STUDIES WERE MANAGED BY THE INSTITUTE, BUT NOT SPONSORED DIRECTLY. INSTITUTE INVESTIGATIONAL STUDY AGENTS WERE PROVIDED FOR AN ADDITIONAL 8 CLINICAL TRIALS SPONSORED AND MANAGED BY LOCAL ENTITIES. THESE 29 TRIALS WERE SUPPORTED BY 13 ACTIVE INSTITUTE REGULATORY DOSSIERS [9 INVESTIGATIONAL NEW DRUG (IND) APPLICATIONS (USA), 2 DRUG MASTER FILES (DMF) AND 2 INVESTIGATIONAL MEDICINAL PRODUCT DOSSIERS, (EUROPEAN UNION)]. OVER THE YEAR THE INSTITUTE MADE 25 SUPPLEMENTAL SUBMISSIONS TO ITS ACTIVE REGULATORY DOSSIERS.
FORM 990, PARTS IV, LINE 12A AND XII, LINE 1   THE INSTITUTE PREPARED CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH SWISS GAAP FER. THE INSTITUTE PREPARED STATUTORY FINANCIAL STATEMENTS IN ACCORDANCE WITH THE SWISS CODE OF OBLIGATIONS. THE INSTITUTE PREPARED BRANCH FINANCIAL STATEMENTS IN ACCORDANCE WITH THE SWISS CODE OF OBLIGATIONS FOR THE FOLLOWING BRANCHES: BRUSSELS (BELGIUM), LAUSANNE (SWITZERLAND), MELBOURNE-PARKVILLE (AUSTRALIA), MELBOURNE-AUSTIN (AUSTRALIA), OXFORD (UNITED KINGDOM), NEW YORK AND SAN DIEGO (UNITED STATES), SAO PAULO (BRAZIL), STOCKHOLM AND UPPSALA (SWEDEN). THE SUBMITTED RETURN 990 IS BASED ON THE STATUTORY FINANCIAL STATEMENTS IN ACCORDANCE WITH THE SWISS CODE OF OBLIGATIONS. THE FOLLOWING ACCOUNTING PRINCIPLES APPLY: - CONTRIBUTIONS ARE ACCOUNTED FOR ON THE CASH BASIS - INTEREST IS ACCOUNTED FOR ON THE ACCRUAL BASIS - EXTERNAL FUNDING RECEIVED FROM ANY OUTSIDE SOURCE, WHETHER OF CASH OR A NON-CASH NATURE, IS RECORDED IN THE INSTITUTE'S BOOKS OF ACCOUNT ON RECEIPT. EXTERNAL FUNDING RECEIVED IS TAKEN TO INCOME WHEN THE CORRESPONDING EXPENDITURE IS INCURRED. ANY UNSPENT INCOME IS DEFERRED TO FUTURE ACCOUNTING PERIODS. EXTERNAL FUNDING PLEDGED, BUT NOT RECEIVED WHERE EXPENDITURE HAS BEEN INCURRED, IS TAKEN TO ACCOUNT AS INCOME AND IS ACCOUNTED FOR AS A GRANTS RECEIVABLE PENDING RECEIPT. - LICENCE FEES AND ROYALTIES ARE ACCOUNTED FOR ON THE MODIFIED CASH BASIS. - EXPENDITURE ON EQUIPMENT AND OTHER ASSETS AND LEASEHOLD IMPROVEMENTS IS CHARGED IN FULL AGAINST REVENUE IN THE YEAR IT IS INCURRED. THE INSTITUTE PREPARED BRANCH FINANCIAL STATEMENTS IN ACCORDANCE WITH LOCAL ACCOUNTING REQUIREMENTS FOR THE BRANCHES IN NEW YORK (UNITED STATES) AND SAO PAULO (BRAZIL). THE INSTITUTE PREPARED FINANCIAL STATEMENTS IN ACCORDANCE WITH OFFICE OF MANAGEMENT AND BUDGET CIRCULAR A-133 FOR THE SAN DIEGO BRANCH (UNITED STATES). THE INSTITUTE MAINTAINS ACCOUNTING LEDGERS BY CURRENCY, BY BRANCH, AND BY FUNCTION. INSTITUTE CURRENCIES ARE: AUD, BRL, CHF, EUR, GBP, SEK AND USD. WHEN ANY EXPENDITURE/INCOME OR BALANCE SHEET TRANSACTIONS ARE RECORDED INTO THE ACCOUNTS, A NON-INSTITUTE CURRENCY IS CONVERTED INTO AN INSTITUTE CURRENCY AMOUNT USING THE RATE RULING AT THE DATE OF THE TRANSACTION. FOR THE PRODUCTION OF THE STATUTORY FINANCIAL STATEMENTS DENOMINATED IN USD, THE FOLLOWING PRINCIPLES APPLY: NON-USD CONTRIBUTION INCOME IS TRANSLATED INTO USD AT THE MONTHLY RATES AS PUBLISHED BY THE SWISS TAX AUTHORITIES. ALL OTHER NON-USD INCOME ITEMS ARE TRANSLATED INTO USD AT THE YEARLY AVERAGE OF THE MONTHLY RATES AS PUBLISHED BY THE SWISS TAX AUTHORITIES. NON-USD ASSETS AND LIABILITIES ARE TRANSLATED INTO USD AT THE RATES RULING AT THE END OF THE YEAR. THE RESULTING TRANSLATION ADJUSTMENTS ARE INCLUDED IN THE EXCESS OF EXPENDITURE OVER INCOME FOR THE YEAR. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS: OLIVIER R.E. DUNANT AND ALFRED BERGER, DIRECTORS ON LUDWIG INSTITUTE FOR CANCER RESEARCH LTD'S BOARD, ALSO SERVE ON THE BOARD OF ANOTHER ORGANIZATION. BUSINESS: DR. ANDREW SIMPSON AND DR. JONATHAN SKIPPER, OFFICERS OF LUDWIG INSTITUTE FOR CANCER RESEARCH LTD, SERVE ON THE BOARD OF ANOTHER ORGANIZATION. BUSINESS: EDWARD A. MCDERMOTT JR. AND DR. JONATHAN SKIPPER ARE OFFICERS OF A RELATED FOR PROFIT ORGANIZATION.
FORM 990, PART VI, SECTION A, LINE 4   ON JUNE 22, 2010 THE INSTITUTE'S BY-LAWS WERE AMENDED TO REFLECT THE FOLLOWING CHANGES IN MANAGEMENT STRUCTURE: 1) BOARD OF DIRECTORS - CONSTITUTION NEW PROVISION: THE BOARD OF DIRECTORS SHALL CONSIST OF AT LEAST THREE INDIVIDUALS AT LEAST ONE OF WHOM IS DOMICILED IN SWITZERLAND. EACH MEMBER OF THE BOARD MUST BE A SHAREHOLDER. INDIVIDUALS NOMINATED AND ELECTED TO THE BOARD SHALL BE DEDICATED TO THE MISSION OF THE INSTITUTE, POSSESS HIGH MORAL AND ETHICAL STANDARDS, HAVE THE REQUISITE EDUCATION AND EXPERIENCE TO MAKE A SIGNIFICANT CONTRIBUTION TO THE BOARD AND BRING A RANGE OF SKILLS, PERSPECTIVES AND BACKGROUNDS TO ITS DELIBERATIONS. 2) QUORUM, RESOLUTIONS AND RECORDS OF PROCEEDINGS CONCURRENCE OF THREE QUARTERS OF ALL MEMBERS OF THE BOARD OF DIRECTORS NOW ONLY REQUIRED FOR MATERIAL MATTERS OF POLICY AND PROCEDURE INCLUDING A) APPROVAL OF THE OPERATING BUDGET AND ANY INTERIM ADJUSTMENT; B) THE SALE OR OTHER DISPOSITION OF SUBSTANTIAL ASSETS OF THE INSTITUTE; C) SUBSTANTIAL CHANGE IN THE INVESTMENT AND HOLDING OF ASSETS; D) THE ADOPTION OR AMENDMENT OF BY-LAWS FOR THE CONDUCT OF THE AFFAIRS OF THE INSTITUTE; E) THE APPOINTMENT AND REMOVAL OF ANY OF THE EXECUTIVE OFFICERS OF THE INSTITUTE; F) A RECOMMENDATION FOR AMENDING THE STATUTES OF THE INSTITUTE; OR G) A CHANGE IN THE STRATEGIC APPROACH OR BRANCH STRUCTURE OF THE INSTITUTE. 3) NON-TRANSFERABLE AND IRREVOCABLE DUTIES OF THE BOARD OF DIRECTORS IN ACCORDANCE WITH ART. 716B OF THE SWISS CODE OF OBLIGATIONS: -THE DUTY TO DETERMINE THE ORGANIZATION NOW SPECIFICALLY REFERS TO THE ISSUANCE AND AMENDMENT OF THE BY-LAWS -A JUDGE IS TO BE INFORMED OF OVER INDEBTEDNESS -THE BOARD IS TO PASS RESOLUTIONS ON THE ADOPTION OF CAPITAL INCREASES AS LONG AS SUCH ACTION IS IN COMPLIANCE WITH ART. 651 PARA 4 OF SWISS CODE OF OBLIGATIONS. 4) DUTIES OF THE PRESIDENT THE PRESIDENT SHALL BE THE CHIEF EXECUTIVE OFFICER. 5) DUTIES OF THE EXECUTIVE OFFICERS THE POSITIONS OF EXECUTIVE DIRECTOR FOR LABORATORY SCIENCE AND TECHNOLOGY, EXECUTIVE DIRECTOR FOR CLINICAL AND TRANSLATIONAL RESEARCH AND EXECUTIVE DIRECTOR FOR PROGRAMS AND OPERATIONS WERE DISCONTINUED. THE NEW POSITION EXECUTIVE DIRECTOR OF OPERATIONS WAS CREATED WITH THE FOLLOWING DUTIES: TO ASSIST THE SCIENTIFIC DIRECTOR IN MANAGING THE SCIENTIFIC ADMINISTRATION, COORDINATING THE ORGANIZATIONAL INFRASTRUCTURE, OPTIMIZING OPERATIONAL EFFICIENCY AND ALONG WITH OTHER EXECUTIVE DIRECTORS, DEVELOPING AND EXECUTING STRATEGIC, SCIENTIFIC AND POLICY INITIATIVES. THE EXECUTIVE DIRECTOR OF OPERATIONS SHALL REPORT TO THE SCIENTIFIC DIRECTOR AND PERFORM SUCH OTHER DUTIES AS MAY BE PRESCRIBED FROM TIME TO TIME BY THE SCIENTIFIC DIRECTOR, PRESIDENT OR THE BOARD OF DIRECTORS. THE NEW POSITION EXECUTIVE DIRECTOR OF COLLABORATIVE SCIENCES WAS CREATED WITH THE FOLLOWING DUTIES: TO ASSIST THE SCIENTIFIC DIRECTOR IN COORDINATING INSTITUTE RESEARCH INITIATIVES, MANAGING SCIENTIFIC COLLABORATIONS, PURSUING EXTERNAL FUNDING OPPORTUNITIES IN SUPPORT OF INSTITUTE RESEARCH AND COLLABORATIONS, FACILITATING INTERACTIONS BETWEEN THE INSTITUTE AND LUDWIG CENTERS, AND ALONG WITH OTHER EXECUTIVE DIRECTORS, DEVELOPING AND EXECUTING STRATEGIC, SCIENTIFIC AND POLICY INITIATIVES. THE EXECUTIVE DIRECTOR OF COLLABORATIVE SCIENCES SHALL REPORT TO THE SCIENTIFIC DIRECTOR AND PERFORM SUCH OTHER DUTIES AS MAY BE PRESCRIBED FROM TIME TO TIME BY THE SCIENTIFIC DIRECTOR, PRESIDENT OR THE BOARD OF DIRECTORS. THE POSITION OF EXECUTIVE DIRECTOR FOR INTELLECTUAL PROPERTY AND LICENSING WAS RE-TITLED TO EXECUTIVE DIRECTOR OF TECHNOLOGY DEVELOPMENT WITH THE FOLLOWING NEW DUTIES: TO ASSIST THE SCIENTIFIC DIRECTOR IN ADMINISTERING THE INTELLECTUAL PROPERTY OF THE INSTITUTE, OVERSEEING THE DEVELOPMENT OF PROMISING CLINICAL CANDIDATES, NEGOTIATING INTER-INSTITUTIONAL COLLABORATIONS, AND MANAGING COMMERCIAL LICENSE ARRANGEMENTS AND ALONG WITH OTHER EXECUTIVE DIRECTORS, DEVELOPING AND EXECUTING STRATEGIC, SCIENTIFIC AND POLICY INITIATIVES. THE EXECUTIVE DIRECTOR FOR TECHNOLOGY DEVELOPMENT SHALL REPORT TO THE SCIENTIFIC DIRECTOR AND PERFORM SUCH OTHER DUTIES AS MAY BE PRESCRIBED FROM TIME TO TIME BY THE SCIENTIFIC DIRECTOR, PRESIDENT OR THE BOARD OF DIRECTORS. THE DUTIES OF THE CHIEF FINANCIAL OFFICER WERE EXPANDED TO INCLUDE "WITH THE PRESIDENT DEVELOPING AND IMPLEMENTING STRATEGIC AND POLICY INITIATIVES". THE SCIENTIFIC ADVISORY COMMITTEE SHALL BE (NEW) APPOINTED AND THEIR TERMS OF ENGAGEMENT SET BY THE SCIENTIFIC DIRECTOR IN CONSULTATION WITH THE PRESIDENT AND THE EXECUTIVE DIRECTORS. THEIR DUTY IS TO ADVISE ON THE SCIENTIFIC MISSION, POLICIES (INCLUDING, THE APPOINTMENT AND SUCCESSION OF THE BRANCH DIRECTORS AND OTHER SCIENTIFIC AND CLINICAL PERSONNEL), THE OPERATION OF THE RESEARCH AND THE DEVELOPMENT OF THE TECHNOLOGY OF THE INSTITUTE.
FORM 990, PART VI, SECTION A, LINE 6   THE INSTITUTE IS ORGANIZED AS A SWISS NOT-FOR-PROFIT ORGANIZATION. FORTY-NINE OF THE SHARES ARE HELD BY THE TRUSTEES OF THE LICR CHARITABLE TRUST, A BERMUDA TRUST RECOGNIZED BY THE IRS AS AN EXEMPT SUPPORTING ORGANIZATION OF THE INSTITUTE UNDER SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE, WHOSE PRIMARY PURPOSE IS TO ADMINISTER, DEVOTE AND APPLY ITS TRUST ESTATE TO FURTHER THE CHARITABLE AND SCIENTIFIC PURPOSES OF THE INSTITUTE. OF THE FORTY-NINE SHARES HELD BY THE TRUSTEES OF THE LICR CHARITABLE TRUST, THERE ARE THIRTY-EIGHT SCHEDULE A SHARES AND ELEVEN SCHEDULE B SHARES. FOLLOWING THE PROVISIONS OF THE INSTITUTE'S STATUTES, MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO BE SHAREHOLDERS. THE ELEVEN SCHEDULE B SHARES ARE AVAILABLE FOR THIS PURPOSE AND DURING THE MEMBER OF THE BOARDS' TENURE, THE TRUSTEES OF THE LICR CHARITABLE TRUST ASSIGNS TO EACH BOARD MEMBER ONE SHARE. THE INSTITUTE'S OTHER OUTSTANDING SHARE IS HELD BY THE SWISS CONFEDERATION. FORM 990, PART VI, SECTION A, LINE 7A THE STATUTES OF THE INSTITUTE CONFER ON ITS SHAREHOLDERS THE AUTHORITY TO ELECT AND REMOVE MEMBERS OF THE BOARD OF DIRECTORS AND PARTICIPATE IN PROCEEDINGS, DELIBERATIONS, ELECTIONS AND VOTES AT SHAREHOLDER MEETINGS. THE SHARES DO NOT CONFER PROPRIETARY RIGHTS OR ANY ENTITLEMENT TO ANY SHARE OF THE INSTITUTE'S NET INCOME OR CAPITAL OR ANY OTHER ASSETS OWNED OR MANAGED BY THE INSTITUTE. THE INSTITUTE'S STATUTES PROHIBIT THE PAYMENT OF ANY DIVIDENDS OR DISTRIBUTION OF INCOME OR CAPITAL TO THE SHAREHOLDERS. FORM 990, PART VI, SECTION A, LINE 7B THE SHAREHOLDERS HAVE THE POWERS TO GRANT DISCHARGE TO THE MEMBERS OF THE BOARD OF DIRECTORS ANNUALLY AT THE SHAREHOLDERS ANNUAL MEETING FOR THEIR CONDUCT OF INSTITUTE BUSINESS. THE ANNUAL REPORT AND ANNUAL FINANCIAL STATEMENTS ARE SUBMITTED TO THE SHAREHOLDERS BY THE BOARD OF DIRECTORS FOR SHAREHOLDER APPROVAL. THE SHAREHOLDERS HAVE THE RIGHT TO MAKE RESOLUTIONS IN RESPECT OF MERGERS, DISSOLUTIONS OR LIQUIDATION OF THE COMPANY AND OF ANY CHANGE OF THE COMPANY'S REGISTERED OFFICE. FORM 990, PART VI, SECTION B, LINE 11B THE INSTITUTE'S FORM 990 IS REVIEWED AT SEVERAL LEVELS. THE INSTITUTE'S ZURICH OFFICE SENIOR STAFF, THE DIRECTOR OF TAXES LOCATED IN NEW YORK, AND EXTERNAL TAX AND LEGAL COUNSEL REVIEW THE DRAFT FORM 990. FOLLOWING THESE REVIEWS, THE CHAIRMAN OF THE AUDIT COMMITTEE REVIEWS THE DRAFT RETURN PRIOR TO PRESENTING IT TO THE AUDIT COMMITTEE FOR FURTHER REVIEW. THE DRAFT FORM 990 IS THEN PRESENTED TO THE INSTITUTE'S BOARD OF DIRECTORS PRIOR TO ITS SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL MEMBERS OF THE BOARD OF DIRECTORS, OFFICERS AND ALL STAFF ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST BY COMPLETING A QUESTIONNAIRE. IN ADDITION, INDIVIDUALS ARE REQUIRED TO REPORT ANY CONFLICTS AS THEY ARISE DURING THE YEAR. THE COMPLETED QUESTIONNAIRES OF THE MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS ARE REVIEWED BY THE COMPLIANCE AND RISK OFFICER AND THE CHAIRMAN OF THE AUDIT COMMITTEE AND THEIR WORK THEREON IS REPORTED TO THE AUDIT COMMITTEE. IF A CONFLICT OF INTEREST IS DEEMED TO EXIST, IT IS THE DUTY OF THE INDIVIDUAL WITH THE CONFLICT TO DISCLOSE IT. THE INTEREST IS RECORDED IN THE MINUTES OF THE MEETING OF THE BOARD AND WHERE THE CONFLICT CONCERNS ANY BOARD OR COMMITTEE MEMBER, THE INDIVIDUAL(S) IS NOT PERMITTED TO PARTICIPATE IN ANY VOTE OR DELIBERATION ON THE MATTER NOR BE COUNTED IN DETERMINING THE EXISTENCE OF A QUORUM FOR THE PURPOSES OF ANY ACTION OF THE BOARD OR COMMITTEE CONSIDERING THE MATTER. THE ANNUAL DISCLOSURES BY STAFF ARE REVIEWED BY SENIOR MANAGEMENT. FORM 990, PART VI, SECTION B, LINES 13 AND 14 THE ORGANIZATION'S WRITTEN WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES WERE DEVELOPED BY MANAGEMENT AND HAVE BEEN IN PLACE FOR SEVERAL YEARS. FORM 990, PART VI, SECTION B, LINES 15A AND 15B THE COMPENSATION OF THE MEMBERS OF THE BOARD OF DIRECTORS, THE EXECUTIVE OFFICERS, KEY EMPLOYEES AND FORMER DIRECTORS AND OFFICERS WHO ARE RETAINED AS EMPLOYEES/CONSULTANTS OF THE INSTITUTE IS SUBJECT TO REVIEW BY THE INSTITUTE'S BOARD COMPENSATION COMMITTEE. INDEPENDENT COMPENSATION CONSULTANTS PROVIDE COMPARABILITY SURVEYS TO THE COMMITTEE. MINUTES OF THE REVIEW, DECISIONS MADE AND RECOMMENDATIONS TO THE BOARD OF DIRECTORS BY THE COMPENSATION COMMITTEE DURING THE REVIEW ARE KEPT AND, ONCE APPROVED, ARE SIGNED BY THE CHAIRPERSON AND THE SECRETARY TO THE BOARD. THE COMPENSATION COMMITTEE'S RECOMMENDATIONS TO THE BOARD OF DIRECTORS ARE THEN REVIEWED BY THE BOARD AND, IF APPROPRIATE, APPROVED BY THE BOARD. MINUTES OF ALL BOARD MEETINGS ARE KEPT AND, ONCE APPROVED, ARE SIGNED BY THE CHAIRPERSON AND THE SECRETARY TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE MAKES THE FOLLOWING DOCUMENTS AVAILABLE TO THE PUBLIC ON ITS COMPANY WEBSITE WWW.LICR.ORG: - LICR ANNUAL RESEARCH HIGHLIGHTS REPORT - LICR ORGANIZATION TAX EXEMPT FORM 990 AND - LICR ANNUAL REPORT. THE LICR ANNUAL REPORT INCLUDES THE STATUTORY FINANCIAL STATEMENTS OF THE INSTITUTE, WHICH HAVE BEEN PREPARED IN ACCORDANCE WITH THE PROVISIONS OF THE SWISS CODE OF OBLIGATIONS AND THE CONSOLIDATED FINANCIAL STATEMENTS OF THE INSTITUTE, WHICH HAVE BEEN PREPARED IN ACCORDANCE WITH SWISS-GAAP FER. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON REQUEST AT THE ADMINISTRATIVE OFFICES IN NEW YORK AND ZURICH, SWITZERLAND. FORM 990, PART VII AS PART OF THE ANNUAL PREPARATION OF THE FORM 990, THE CHIEF FINANCIAL OFFICER ASKS ALL BOARD OF DIRECTORS AND EXECUTIVE OFFICERS FOR THEIR ESTIMATE OF HOURS WORKED FOR THE INSTITUTE AND THE RELATED ORGANIZATIONS. (SEE ATTACHMENT 2 FOR HOURS DEVOTED TO RELATED ORGANIZATIONS.) THE RELATED ORGANIZATIONS REPORT THE RESPECTIVE COMPENSATION FIGURES TO THE INSTITUTE AND PROVIDE COPIES OF THE SUBMITTED W-2 RETURNS/1099 RETURNS. FORM 990 , PART XI, LINE 5 FOREIGN EXCHANGE DIFFERENCE ON SHARE CAPITAL AND LEGAL RESERVE.
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Edward a McDermott Jr TITLE:Director, President HOURS:25
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:John D Gordan III TITLE:Director HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Sir Derek Roberts TITLE:Director, vice chairman HOURS:3
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Alfred Berger TITLE:Director HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Olivier R E Dunant TITLE:Director HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:dr Adolf E Kammerer TITLE:Director HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:John Notter TITLE:Director,chairman of the board HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Professor Jane Royston TITLE:Director HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:professor samuel hellman TITLE:director HOURS:3
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:STEPHEN BOLLENBACH TITLE:DIRECTOR HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dr Lloyd J Old TITLE:Director UNTIL 7/1/09 HOURS:3
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Ludwig Institute for Cancer Research
 
Employer identification number

23-7121131
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity

















Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) LICR Fund Inc

666 third avenue

new york,NY10017
13-3573053 		see part vii DE 501(c)(3) 11a - I Na
 
 
 
(2) LICR Charitable Trust

12 par-la-ville road
hamilton hmcx    
BD
98-6039547 		see part vii BD 501(c)(3) 11b - II none
 
 
 










For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) Universe Tankships Inc UTI
 
 
13-1603827 		Holding LI na
  		C Corp 5,644,050 23,900,000 100.000 %
(2) The Ludwig Group Inc
666 third avenue
new york,NY10017
13-2808920 		admin. svc DE UTI
  		C Corp 5,486,819 9,485,579 100.000 %
(3) Ludwig Technologies Inc
666 Third Avenue
New York,NY10017
27-3166967 		Holding Company DE na
  		C Corp -20,592 5,000 100.000 %








Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
 
No
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
Yes
 
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) LICR Fund Inc

 c 57,414,352  
(2) THE LUDWIG GROUP INC

 M 708,143  
(3) THE LUDWIG GROUP INC

 N 1,342,063  
(4) THE LUDWIG GROUP INC

 O 972,642  
(5)
(6)
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
part ii, column (b) - Description of principal activity of related tax-exempt organizations: LICR Fund, Inc., a Delaware corporation, exempt under IRC section 501(c)(3), manages the donated capital of the institute. LICR Charitable Trust, a Bermuda trust, exempt under IRC section 501(c(3) whose primary purpose is to administer, devote and apply its trust estate to further the charitable and scientific purposes of the Institute.
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