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
2011
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2011 and ending 12-31-2011
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 $ 124,827,390
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 11
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 9
5 Total number of individuals employed in calendar year 2011 (Part V, line 2a) ... 5 164
6 Total number of volunteers (estimate if necessary) .... 6  
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  
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 101,539,488 115,669,227
9 Program service revenue (Part VIII, line 2g) ......... 0 0
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 348,529 403,905
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 8,430,075 8,754,258
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 110,318,092 124,827,390
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) 60,474,159 63,228,751
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet2,918,777    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 52,585,221 57,885,373
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 113,059,380 121,114,124
19 Revenue less expenses. Subtract line 18 from line 12....... -2,741,288 3,713,266
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 44,029,151 46,795,771
21 Total liabilities (Part X, line 26)............. 39,628,254 38,681,815
22 Net assets or fund balances. Subtract line 21 from line 20..... 4,400,897 8,113,956
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 use only
Print/type preparer's name
 
Preparer's signature
Date
PTIN
Firm's name Right pointing arrowhead image

Firm's EIN Right pointing arrowhead image
Firm's address Right pointing arrowhead image



Phone no.
May the IRS discuss this return with the preparer shown above? See instructions .........bullet
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2011)
Form 990 (2011)
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 organization’s program service accomplishments for each of its three largest program services, as measured 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 $ 88,869,129 including grants of $   ) (Revenue $   )
Laboratory Research Leading to Clinical Applications - SEE SCHEDULE O.
4b (Code:   ) (Expenses $ 15,977,273 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$ 104,846,402
Form 990 (2011)
Form 990 (2011)
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 IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part IIClick to see attachment.........................
4
Yes
 
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 IIIClick to see attachment........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? 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 temporarily restricted endowments, permanent endowments, 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, investment, and program service activities outside the United States or aggregate foreign investments valued at $100,000 or more? 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
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
If “Yes” to line 20a, did the organization attach a copy of its audited financial statement to this return? Note. All Form 990 filers that operated one or more hospitals must attach audited financial statements.
20b
 
 
Form 990 (2011)
Form 990 (2011)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants and other assistance to any government or organization 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 employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? 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...........................
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
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, 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
35b
Yes
 
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 (2011)
Form 990 (2011)
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
86
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
164
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 , 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 (2011)
Form 990 (2011)
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
If the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
1a
11
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
9
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
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? .................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ............
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
Did the organization have local chapters, branches, or affiliates? ............
10a
Yes
 
b
If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? ....
10b
Yes
 
11a
Has the organization provided a complete 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
Did the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Were officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done ....................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did 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 15a or 15b, 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,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take 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 made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
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 (2011)
Form 990 (2011)
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 (do not check more than one box, unless person is both an officer and a director/trustee) 		(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       0 796,043 169,869
(2) JOHN D GORDAN III
DIRECTOR
 3.0 X           11,099 79,332 0
(3) SIR DEREK ROBERTS
DIRECTOR, VICE CHAIRMAN
 2.0 X           11,099 79,332 0
(4) ALFRED BERGER
DIRECTOR
 2.0 X           11,099 30,000 0
(5) OLIVIER R E DUNANT
DIRECTOR
 2.0 X           11,099 30,000 0
(6) DR ADOLF E KAMMERER
DIRECTOR
 2.0 X           11,099 30,000 0
(7) JOHN NOTTER
DIRECTOR,CHAIRMAN OF THE BOARD
 8.0 X           29,134 124,332 0
(8) PROFESSOR JANE ROYSTON
DIRECTOR UNTIL 06/30/11
 2.0 X           5,549 15,000 0
(9) DR ANDREW SIMPSON
DIRECTOR, SCIENTIFIC DIRECTOR
 50.0 X   X       598,226 0 199,907
(10) PROFESSOR SIR DAVID LANE
DIRECTOR
 2.0 X           16,685 32,500 0
(11) PROFESSOR SAMUEL HELLMAN
DIRECTOR
 2.0 X           11,806 79,332 0
(12) STEPHEN BOLLENBACH
DIRECTOR
 2.0 X           11,099 30,000 0
(13) DR JONATHAN SKIPPER
EXEC. DIR. TECH DEVELOPMENT
 45.0     X       491,905 0 50,026
(14) RICHARD D J WALKER
CHIEF FINANCIAL OFFICER
 43.0     X       515,238 0 93,954
(15) DR ERIC W HOFFMAN
EXEC. DIR. OPERATIONS
 50.0     X       452,916 0 49,637
(16) Dr ROBERT STRAUSBERG
EXEC. DIR. OF COLLAB. SCIENCES
 45.0     X       374,945 0 75,608
(17) DR WEBSTER CAVENEE
BRANCH DIRECTOR
 60.0       X     532,849 0 49,697
Form 990 (2011)
Form 990 (2011)
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 (do not check more than one box, unless person is both an officer and a director/trustee) 		(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 RICHARD KOLODNER
HEAD OF ACADEMIC AFFAIRS
 60.0         X   502,095 0 41,286
(19) DR RALPH VENHAUS
CHIEF MEDICAL OFFICER
 50.0         X   337,484 0 49,873
(20) DR DON CLEVELAND
GROUP LEADER
 45.0         X   438,155 0 47,232
(21) DR ROB MACDONALD
BRANCH DIRECTOR
 40.0         X   339,580 0 52,580
(22) DR ANDREW SCOTT
BRANCH DIRECTOR
 60.0         X   338,476 0 49,246
(23) DR LLOYD J OLD
DIRECTOR UNTIL 7/1/09
 45.0           X 319,770 48,499 33,690
(24) DR ANTONY BURGESS
BRANCH DIRECTOR UNTIL 7/15/09
 55.0           X 207,171 0 56,354












1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 5,578,578 1,374,370 1,018,959
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet95
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. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
UNIVERSITY OF OXFORD
WELLINGTON SQUARE
OXFORD,0OX1 2JD
UK 		RESEARCH SERVICES 4,697,237
UNIVERSITY OF LAUSANNE
CHEMIN DES BOVERESSES 155
EPALINGES,01066
SZ 		RESEARCH SERVICES 3,973,363
MEMORIAL SLOAN-KETTERING CANCER CEN
1275 YORK AVENUE
NEW YORK,NY10065 		RESEARCH SERVICES 1,789,546
THE LUDWIG GROUP INC
666 THIRD AVENUE 28TH FLOOR
NEW YORK,NY10017 		MANAGEMENT SERVICES 1,345,315
PROMETRIKA LLC
725 CONCORD AVENUE
CAMBRIDGE,MA02138 		RESEARCH SERVICES 947,820
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet32
Form 990 (2011)
Form 990 (2011)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, Gifts, Grants and Other Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d 72,465,645
e Government grants (contributions)1e 22,310,141
f All other contributions, gifts, grants, and
similar amounts not included above1f 		20,893,441
g Noncash contributions included in lines 1a-1f:$ 9,093,758
h Total. Add lines 1a-1f.......MediumBullet 115,669,227
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 389,321     389,321
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties............MediumBullet 8,754,258     8,754,258
(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   14,584
b Less: cost or other basis and sales expenses    
c Gain or (loss)   14,584
d Net gain or (loss)..........MediumBullet 14,584     14,584
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            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 0
12 Total revenue. See Instructions....MediumBullet 124,827,390     9,158,163
Form 990 (2011)
Form 990 (2011)
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).
Check if Schedule O contains a response to any question in this Part IX. .........
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 United States. See Part IV, line 21 0  
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the United States. 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 .... 3,750,782 1,793,373 1,490,144 467,265
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 45,547,654 38,409,996 5,544,280 1,593,378
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 5,570,371 4,852,869 563,738 153,764
9 Other employee benefits ....... 5,657,255 4,797,414 691,230 168,611
10 Payroll taxes ........... 2,702,689 2,205,527 390,719 106,443
11 Fees for services (non-employees):        
a Management ...... 1,345,315 674,467 670,848  
b Legal ......... 672,440   672,440  
c Accounting ........... 470,843   470,843  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 1,534,449 1,080,202 441,728 12,519
12 Advertising and promotion .... 0      
13 Office expenses ....... 1,601,663 1,027,728 509,956 63,979
14 Information technology ...... 1,333,838 1,090,528 196,267 47,043
15 Royalties .. 1,024,116 1,024,116    
16 Occupancy ........... 6,538,122 5,729,062 597,795 211,265
17 Travel ............ 1,821,899 979,713 773,859 68,327
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 180,674 159,092 16,984 4,598
20 Interest ........... 99,013   99,013  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 0      
23 Insurance .............. 511,565 248,834 262,731  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24f. If line 24f amount exceeds 10% of line 25, column (A) amount, list line 24f expenses on Schedule O.)
a LABORATORY EXPENSES 16,483,134 16,380,187 81,362 21,585
b COLLABORATIVE PROGRAMS 13,575,213 13,575,213    
c EQUIPMENT 3,977,254 3,685,343 291,911  
d CLINICAL TRIALS 3,487,195 3,487,195    
e
f All other expenses 3,228,640 3,645,543 -416,903  
25 Total functional expenses. Add lines 1 through 24f 121,114,124 104,846,402 13,348,945 2,918,777
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2011)
Form 990 (2011)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 3,516,200 1 1,686,406
2 Savings and temporary cash investments ....... 23,936,430 2 28,464,558
3 Pledges and grants receivable, net ......... 2,626,513 3 2,689,269
4 Accounts receivable, net ......... 1,451,451 4 2,220,294
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L .......... 333,500 5 293,667
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 .......... 0 6 0
7 Notes and loans receivable, net ............. 192,238 7 146,254
8 Inventories for sale or use .............. 0 8 0
9 Prepaid expenses and deferred charges ............ 3,037,336 9 2,718,481
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a  
b Less: accumulated depreciation. ..... 10b   0 10c  
11 Investments—publicly traded securities .......... 0 11 0
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 .. 1,891,533 13 1,543,796
14 Intangible assets ......... 0 14 0
15 Other assets. See Part IV, line 11 ........... 1,940,950 15 1,930,046
16 Total assets. Add lines 1 through 15 (must equal line 34)... 44,029,151 16 46,795,771
Liabilities 17 Accounts payable and accrued expenses . 26,958,112 17 28,585,713
18 Grants payable .......... 0 18 0
19 Deferred revenue .......... 12,670,142 19 10,096,102
20 Tax-exempt bond liabilities .......... 0 20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 0 21 0
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D..... 0 25 0
26 Total liabilities. Add lines 17 through 25..... 39,628,254 26 38,681,815
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 ..... 64,371 30 64,164
31 Paid-in or capital surplus, or land, building or equipment fund ..... 0 31 0
32 Retained earnings, endowment, accumulated income, or other funds 4,336,526 32 8,049,792
33 Total net assets or fund balances ..... 4,400,897 33 8,113,956
34 Total liabilities and net assets/fund balances ..... 44,029,151 34 46,795,771
Form 990 (2011)
Form 990 (2011)
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
124,827,390
2
Total expenses (must equal Part IX, column (A), line 25) ....
2
121,114,124
3
Revenue less expenses. Subtract line 2 from line 1 ...
3
3,713,266
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
4,400,897
5
Other changes in net assets or fund balances (explain in Schedule O) ...
5
-207
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
8,113,956
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 (2011)
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
2011
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 DETAILS 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) 2011
Schedule A (Form 990 or 990-EZ) 2011
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) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (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) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (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) 2011
Schedule A (Form 990 or 990-EZ) 2011
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) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (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) 2007 (b) 2008 (c) 2009 (d) 2010 (e) 2011 (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) 2011
Schedule A (Form 990 or 990-EZ) 2011
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 AT THE UNIVERSITY HOSPITAL CENTRE OF THE CANTON VAUD, 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, NEW YORK. UNIVERSITY OF CALIFORNIA, SAN DIEGO - SCHOOL OF MEDICINE, SAN DIEGO, CALIFORNIA.
 
 
 
Schedule A (Form 990 or 990-EZ) 2011

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
2011
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 on line H of its
Form 990-EZ or on Part I, 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) (2011)

Page 2
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Name of organization
LUDWIG INSTITUTE FOR CANCER RESEARCH
  		Employer identification number

23-7121131
Part I
Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total 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)
Total contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




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

     
 
   

$  




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

     
 
   

$  




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

     
 
   

$  




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

     
 
   

$  




(Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Page 3
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Name of organization
LUDWIG INSTITUTE FOR CANCER RESEARCH
  		Employer identification number

23-7121131
Part II
Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
     
(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) (2011)

Page 4
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
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
that total 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 $  
Use duplicate copies of Part III if additional space is needed
(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) (2011)

Additional Data


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

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.
SchCMd Bullet Attach to Form 990 or Form 990-EZ. SchCMd Bullet See separate instructions.
OMB No. 1545-0047
2011
Open to Public
Inspection
If the organization answered “Yes” to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered “Yes” to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)) Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered “Yes” to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, line 35c (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
LUDWIG INSTITUTE FOR CANCER RESEARCH
 
Employer identification number

23-7121131
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c) except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ...................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2011

Schedule C (Form 990 or 990-EZ) 2011
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check expenses, and share of excess lobbying expenditures).
B Check
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group
totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ...... 1,576  
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ................... 1,576  
d Other exempt purpose expenditures ........................ 121,112,548  
e Total exempt purpose expenditures (add lines 1c and 1d) ............... 121,114,124  
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		 1,000,000  
  If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:    
  Not over $500,00020% of the amount on line 1e.    
  Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.    
  Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.    
  Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.    
  Over $17,000,000$1,000,000.    
       
g Grassroots nontaxable amount (enter 25% of line 1f) ................. 250,000  
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
  Calendar year (or fiscal year
beginning in) 		(a) 2008 (b) 2009 (c) 2010 (d) 2011 (e) Total
             
2a Lobbying non-taxable amount       1,000,000 1,000,000
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		        1,500,000
             
c Total lobbying expenditures       1,576 1,576
             
d Grassroots nontaxable amount       250,000 250,000
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		         375,000
             
f Grassroots lobbying expenditures       1,576 1,576
Schedule C (Form 990 or 990-EZ) 2011


Schedule C (Form 990 or 990-EZ) 2011
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each “Yes” response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
 
c
Media advertisements? ....................................
 
 
 
d
Mailings to members, legislators, or the public? .........................
 
 
 
e
Publications, or published or broadcast statements? .......................
 
 
 
f
Grants to other organizations for lobbying purposes? .......................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
 
 
i
Other activities? ..........................
 
 
 
j
Total. Add lines 1c through 1i ...............................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2 are answered “No” OR (b) Part III-A, line 3 is answered “Yes”.
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ...........................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Complete this part to provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, Part II-A; line 5; and Part ll-B, line 1.
Also, complete this part for any additional information.
Identifier Return Reference Explanation
SCHEDULE C PART II-A IN 2011 THE INSTITUTE SUPPORTED "DISCOVERIES NEED DOLLARS", A GRASSROOTS CAMPAIGN AIMED AT PROMOTING THE VALUE OF MEDICAL RESEARCH FUNDING AS AN INVESTMENT IN THE FUTURE HEALTH OF AUSTRALIANS. THE INSTITUTE SUPPORT CONSISTED OF DESIGNING & WRITING LETTERS, CREATING LINKS TO THE LICR WEBSITE AND SIGNING AND SENDING PETITIONS (TOTAL 42.5 HOURS).
Schedule C (Form 990 or 990EZ) 2011

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, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2011
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 can 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 through 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, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax 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 (ASC 958), 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 (ASC 958), 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 (ASC 958), 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) 2011

Schedule D (Form 990) 2011
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 Net investment earnings, gains, and 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 (line 1g) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages in lines 2a, 2b, and 2c should equal 100%.
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
Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of property (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 through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet  
Schedule D (Form 990) 2011

Schedule D (Form 990) 2011
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) must 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) must 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) must 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) Book value
Federal Income Taxes  








Total. (Column (b) must 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) 2011

Schedule D (Form 990) 2011
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 through 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 must 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 must 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) 2011

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
2011
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 its grants
and other 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 its grants and other
assistance 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 2 217 Program Services Medical research 28,914,941
Europe (Including Iceland and Greenland) 5 192 Program Services Medical research 42,867,876
Europe (Including Iceland and Greenland) 1 14 Program Services Management 3,401,249
North America 0 0 Program Services Med.Research&Patenting 101,150
South America 1 27 Program Services Medical Research 5,888,207
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total ..... 9 450 81,173,423
b Total from continuation sheets to Part I ...      
c Totals (add lines 3a and 3b) 9 450 81,173,423
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2011
Schedule F (Form 990) 2011
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) 2011
Schedule F (Form 990) 2011Page 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) 2011
Schedule F (Form 990) 2011
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) 2011
Schedule F (Form 990) 2011
Page 5
Part V
Supplemental Information
Complete this part to provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
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) 2011
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
2011
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 or provision 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. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
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
 
No
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 Regulations 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) 2011

Schedule J (Form 990) 2011
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is 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) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and column (E) for that individual.
(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 as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) EDWARD A MCDERMOTT JR (i)
(ii)		 0
796,043 		0
0 		0
0 		0
145,242 		0
24,627 		0
965,912 		0
0
(2) DR LLOYD J OLD (i)
(ii)		 310,069
48,499 		0
0 		9,701
0 		23,581
0 		10,109
0 		353,460
48,499 		0
0
(3) JOHN NOTTER (i)
(ii)		 29,134
124,332 		0
0 		0
0 		0
0 		0
0 		29,134
124,332 		0
0
(4) DR ANDREW SIMPSON (i)
(ii)		 548,014
0 		0
0 		50,212
0 		175,494
0 		24,413
0 		798,133
0 		0
0
(5) DR JONATHAN SKIPPER (i)
(ii)		 456,510
0 		0
0 		35,395
0 		25,725
0 		24,301
0 		541,931
0 		0
0
(6) DR RICHARD KOLODNER (i)
(ii)		 465,793
0 		0
0 		36,302
0 		25,725
0 		15,561
0 		543,381
0 		0
0
(7) RICHARD D J WALKER (i)
(ii)		 491,279
0 		0
0 		23,959
0 		78,685
0 		15,269
0 		609,192
0 		0
0
(8) DR ANTONY BURGESS (i)
(ii)		 142,304
0 		0
0 		64,867
0 		56,354
0 		0
0 		263,525
0 		0
0
(9) DR WEBSTER CAVENEE (i)
(ii)		 492,172
0 		0
0 		40,677
0 		25,725
0 		23,972
0 		582,546
0 		0
0
(10) DR ERIC W HOFFMAN (i)
(ii)		 422,460
0 		0
0 		30,456
0 		25,725
0 		23,912
0 		502,553
0 		0
0
(11) DR RALPH VENHAUS (i)
(ii)		 322,434
0 		0
0 		15,050
0 		25,725
0 		24,148
0 		387,357
0 		0
0
(12) DR DON CLEVELAND (i)
(ii)		 410,947
0 		0
0 		27,208
0 		25,725
0 		21,507
0 		485,387
0 		0
0
(13) Dr ROBERT STRAUSBERG (i)
(ii)		 346,188
0 		0
0 		28,757
0 		51,450
0 		24,158
0 		450,553
0 		0
0
(14) DR ROB MACDONALD (i)
(ii)		 339,580
0 		0
0 		0
0 		48,714
0 		3,866
0 		392,160
0 		0
0
(15) DR ANDREW SCOTT (i)
(ii)		 338,476
0 		0
0 		0
0 		49,246
0 		0
0 		387,722
0 		0
0

Schedule J (Form 990) 2011

Schedule J (Form 990) 2011
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 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 4B   DURING 2011, 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 94,720 IS ATTRIBUTABLE TO THIS PLAN. DURING 2011, 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 149,769 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) 2011

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
2011
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 750,000 231,668   No Yes   Yes  
(2) DR RICHARD KOLODNER
HOUSING LOAN 		  X 100,000 62,000   No   No Yes  
Total ...............Small Bullet $ 293,668
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) 2011
Schedule L (Form 990 or 990-EZ) 2011
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 3,688,115 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) 2011

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
2011
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)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash 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 27 6,054,309 cost & estimates
26 Other Right pointing arrow large image ( Laboratory costs ) X 12 2,504,339 costs
27 Other Right pointing arrow large image ( research equipment ) X 4 278,958 cost & estimates
28 Other Right pointing arrow large image ( occupancy costs ) X 1 150,811 costs
Other Right pointing arrow large image ( travel costs ) X 3 9,376 costs
Other Right pointing arrow large image ( conference costs ) X 5 37,252 costs
Other Right pointing arrow large image ( consultancy costs ) X 2 7,152 costs
Other Right pointing arrow large image ( other operating expenses ) X 4 51,561 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 noncash
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) 2011
Schedule M (Form 990) 2011
Page 2
Part II
Supplemental Information. Complete this part to provide the information required by Part I, lines 30b,
32b, and 33 and whether the organization is reporting in Part I, column (b) the number of contributions, the number of items received, or a combination of both. 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) 2011
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
2011
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 LUDWIG INSTITUTE FOR CANCER RESEARCH WAS FOUNDED 40 YEARS AGO AS AN INTERNATIONAL NON-PROFIT RESEARCH INSTITUTE WITH A SINGULAR FOCUS: IMPROVING THE UNDERSTANDING AND CONTROL OF CANCER. THE LUDWIG INSTITUTE'S SCIENTISTS UNDERTAKE PIONEERING BASIC RESEARCH AND FACILITATE THE TRANSLATION OF PROMISING CANCER DISCOVERIES INTO APPLICATIONS FOR HUMAN BENEFIT. LUDWIG TAKES RESPONSIBILITY FOR THE ENTIRE DISCOVERY CONTINUUM, FROM THE LABORATORY TO THE CLINIC. MAKING MEANINGFUL ADVANCES THAT WILL ULTIMATELY TRANSFORM CARE FOR CANCER PATIENTS IS WHAT DRIVES THE LUDWIG INSTITUTE FORWARD. LUDWIG RESEARCH FOCUSES ON ENHANCING THE UNDERSTANDING OF CANCER ONSET AND PROGRESSION, AS WELL AS IDENTIFYING AND CHARACTERIZING TOOLS AND TARGETS FOR NEW PROGNOSTIC, DIAGNOSTIC AND THERAPEUTIC MODALITIES. THE LUDWIG INSTITUTE ENGAGES LEADING SCIENTISTS AND CLINICIANS IN AN INTEGRATED LABORATORY AND CLINICAL RESEARCH EFFORT TO CONFRONT THE GLOBAL CHALLENGE OF CANCER. SPECIFICALLY, LUDWIG LABORATORY RESEARCH SEEKS TO EXTEND THE 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 LUDWIG SCIENTISTS TO FURTHER THEIR LABORATORY WORK TO IDENTIFY, CHARACTERIZE AND EVALUATE NEW TOOLS AND TARGETS FOR THEIR POTENTIAL AS CLINICAL APPLICATIONS. ALL LABORATORY RESEARCH FINANCED BY LUDWIG IS CARRIED OUT BY THE INSTITUTE'S OWN APPOINTED RESEARCH STAFF OR THROUGH RESEARCH COLLABORATIONS INVOLVING INSTITUTE STAFF AND EXTERNAL INVESTIGATORS. THE INSTITUTE EMPLOYED AROUND 670 SCIENTISTS, CLINICIANS AND SUPPORT PERSONNEL AT DECEMBER 31, 2011. THE LUDWIG INSTITUTE FUNDS AROUND 65% OF THE COST OF THE RESEARCH THAT IT CONDUCTS FROM ITS SEPARATELY HELD INVESTMENT PORTFOLIO. THIS FUNDING MODEL GIVES LUDWIG INVESTIGATORS THE FREEDOM TO TACKLE SPECULATIVE, LONG-TERM RESEARCH, AND ENCOURAGES AND ENABLES MULTIDISCIPLINARY TEAMS OF INVESTIGATORS TO TACKLE LARGER, MORE COMPLEX CANCER CHALLENGES. THE PROTECTION AND LICENSING OF INTELLECTUAL PROPERTY (IP) GENERATED BY RESEARCH DISCOVERIES AND TECHNOLOGY DEVELOPMENT IS FUNDAMENTAL TO LUDWIG'S COMMITMENT TO TRANSLATE ITS DISCOVERIES INTO APPLICATIONS FOR HUMAN BENEFIT. THE INSTITUTE PATENTS ITS IP TO ENSURE THAT LUDWIG DISCOVERIES ATTRACT INTEREST FROM COMMERCIAL PARTNERS WILLING TO INVEST IN THE SUCCESSFUL DEVELOPMENT OF THESE DISCOVERIES. LUDWIG ALSO MANAGES ITS IP PATENTS FOR THE PUBLIC BENEFIT. THIS MEANS THE IP IS MADE FREELY-AVAILABLE TO THE ACADEMIC RESEARCH COMMUNITY. INCOME FROM THESE ACTIVITIES FINANCED INSTITUTE RESEARCH EXPENDITURE AMOUNTING TO USD 4.5 MILLION. IN 2011, LUDWIG INVESTIGATORS PUBLISHED 299 PRIMARY RESEARCH ARTICLES AND 60 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 2011, 16 PATENTS WERE ISSUED AND 12 WERE FILED IN THE USA BASED ON LUDWIG DISCOVERIES, AND A FURTHER 7 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.
FORM 990, PART III CLINICAL RESEARCH - LINE 4B LABORATORY RESEARCH ON ISOLATED CELLS AND MACROMOLECULES WHILE CRITICAL 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, THE LUDWIG INSTITUTE TAKES RESPONSIBILITY FOR THE ENTIRE DISCOVERY CONTINUUM, FROM THE LABORATORY TO THE CLINIC. LUDWIG BELIEVES 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. THE LUDWIG INSTITUTE HAS LICENSING INTERACTIONS WITH BIOTECHNOLOGY AND PHARMACEUTICAL COMPANIES THAT ALLOW IT TO OBTAIN PROPRIETARY INVESTIGATIONAL AGENTS AND EVALUATE WHETHER THESE AGENTS MIGHT COMPLEMENT THE THERAPEUTIC POTENTIAL OF THE INSTITUTE'S OWN DISCOVERIES. THE INSTITUTE'S INTERACTIONS WITH INDUSTRY ARE DESIGNED TO PROTECT ITS ETHOS AND INTEGRITY 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 2011. FIVE ADDITIONAL STUDIES WERE MANAGED BY THE INSTITUTE, BUT NOT SPONSORED DIRECTLY. INSTITUTE INVESTIGATIONAL STUDY AGENTS WERE PROVIDED FOR AN ADDITIONAL 9 CLINICAL TRIALS SPONSORED AND MANAGED BY LOCAL ENTITIES. THESE 31 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 26 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), 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 SERVED ON THE BOARD OF ANOTHER ORGANIZATION UNTIL JUNE 30, 2011. BUSINESS: DR ANDREW SIMSPON 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, OFFICERS AND DIRECTORS OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD, ALSO SERVE ON THE BOARD OF ANOTHER ORGANIZATION.
FORM 990, PART VI, SECTION A, LINE 3   THE LUDWIG GROUP, INC., A 100% SUBSIDIARY OF THE LUDWIG INSTITUTE FOR CANCER RESEARCH LTD., PROVIDES MANAGEMENT SERVICES TO THE LUDWIG INSTITUTE (SEE SCHEDULE R)
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, LINE 14   THE ORGANIZATION'S WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY WAS APPROVED BY MANAGEMENT AND HAS 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. THE STUDIES LAST TOOK PLACE IN SEPTEMBER 2010, AND WILL BE CONDUCTED EVERY THREE YEARS. MINUTES OF THE REVIEW AND DECISIONS MADE BY THE COMPENSATION COMMITTEE ARE KEPT AND, ONCE APPROVED, ARE SIGNED BY THE CHAIRPERSON AND THE SECRETARY TO THE BOARD. THE COMPENSATION COMMITTEE'S DECISIONS ARE REPORTED TO THE BOARD OF DIRECTORS AND RECORDED IN THE MINUTES OF THE BOARD MEETINGS, WHICH ARE KEPT FOR ALL BOARD MEETINGS. ONCE APPROVED BY THE BOARD AT A SUBSEQUENT MEETING, THE MINUTES OF MEETINGS 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:26
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JOHN D GORDAN III TITLE:DIRECTOR HOURS:3
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:SIR DEREK ROBERTS TITLE:DIRECTOR, VICE CHAIRMAN HOURS:4
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:3
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:PROFESSOR JANE ROYSTON TITLE:DIRECTOR UNTIL 06/30/11 HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:DR ANDREW SIMPSON TITLE:DIRECTOR, SCIENTIFIC DIRECTOR HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:PROFESSOR SIR DAVID LANE TITLE:DIRECTOR HOURS:2
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:PROFESSOR SAMUEL HELLMAN TITLE:DIRECTOR HOURS:4
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:RICHARD D J WALKER TITLE:CHIEF FINANCIAL OFFICER HOURS:3
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:DR LLOYD J OLD TITLE:DIRECTOR UNTIL 7/1/09 HOURS:6
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2011

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
2011
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
 
Yes
 
(2) LICR CHARITABLE TRUST

666 THIRD AVENUE

NEW YORK,NY10017
98-6039547 		see part vii BD 501(c)(3) 11b - II none
 
 
No
(3) VIRGINIA & DK LUDWIG FUND FOR

CANCER RESEARCH 666 3RD AVE

th FL NY,NY10017
13-7029829 		SEE PART VII NY 501(c)(3) 11D - III NONE
 
 
No








For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
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 LUDWIG INST
  		C CORP 6,001,859 26,592,000 100.000 %
(2) THE LUDWIG GROUP INC
666 THIRD AVENUE
NEW YORK,NY10017
13-2808920 		ADMIN. SERVICE DE UTI
  		C CORP 5,981,516 12,313,577 100.000 %
(3) LUDWIG TECHNOLOGIES INC
666 THIRD AVENUE
NEW YORK,NY10017
27-3166967 		HOLDING CO. DE LUDWIG INST
  		C CORP -34,845 4,725 100.000 %








Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
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 related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
 
No
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from related 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 72,465,645 CASH
(2) THE LUDWIG GROUP INC

 M 932,863 INVOICE AMT
(3) THE LUDWIG GROUP INC

 N 1,345,315 INVOICE AMT
(4) THE LUDWIG GROUP INC

 O 1,409,937 INVOICE AMT
(5) LICR FUND INC

 P 89,408 INVOICE AMT
(6)
Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
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)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(e)
Are all
partners
section
501(c)(3)
organizations? 		(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 Yes No






























Schedule R (Form 990) 2011
Schedule R (Form 990) 2011
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. IS A DELAWARE NON-PROFIT CORPORATION AND A SUPPORTING ORGANIZATION OF THE INSTITUTE, WHICH MAKES GRANTS TO THE INSTITUTE TO SUPPORT THE INSTITUTE'S CONDUCT OF MEDICAL RESEARCH ACTIVITIES. LICR CHARITABLE TRUST IS A BERMUDIAN TRUST WHOSE MISSION IS TO MAINTAIN OVERSIGHT AND CONTROL OF THE MANANAGMENT OF THE INSTITUTE, INCLUDING ELECTION OF THE INSTITUTE'S BOARD OF DIRECTORS. VIRGINIA AND DK LUDWIG FUND FOR CANCER RESEARCH IS A NEW YORK TRUST CREATED UNDER THE LAST WILL AND TESTAMENT OF DANIEL K. LUDWIG TO MAKE GRANTS TO FUND CANCER RESEARCH AT SIX NAMED BENEFICIARY INSTITUTIONS.
Additional Data


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