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Laurence W. HerronVice President for Development Institute for Systems Biology |
RECORD YEAR FOR FUNDRAISING In 2008, ISB experienced a record year in private source fundraising. Cash income from individuals, corporations and private foundations totaled more than $12 million, nearly double the Institute's previous record. More than $8 million of this money was unrestricted, meaning that ISB is able to apply the funds to areas of greatest need or potential. "This achievement is equal to nearly a third of ISB's operating budget in 2008," said Laurence W. Herron, vice president for Development. "The high level of philanthropy manifests the continuing and powerful role that giving plays in the growth and quality of ISB. We stand in grateful awe of the generosity and trust of our donors." Leading the roster of 2008 donors was the Bill & Melinda Gates Foundation, which awarded ISB $6.9 million in recognition of the Institute's successful completion of the Foundation's $10 million challenge grant. An anonymous |
individual made a gift of $1.2 million for the general operations of the Institute. The Boeing Foundation and the Howard Hughes Medical Institute continued their strong support of the ISB's Center for Inquiry Science with awards of $500,000 and $145,000 respectively. Corporations provided more than $250,000 in sponsorships for the ISB International Symposium and the Institute's DNA of Innovation Symposium in October, which honored the 70th birthday of ISB Co-founder and President Lee Hood, MD, PhD.
The development committee of the board of directors, which is chaired by Henry E. "Hank" Riggs, exhibited vigorous leadership in 2008. A new group, the ISB Associates Network, sponsored several programs and events during the year and helped more than double the number of donors to ISB. The Associates Network operates under the chairmanship of Kasra Badiozamani, MD. |
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