Burroughs Wellcome Fund: Strategic Science
The Burroughs Wellcome Fund is an independent private foundation whose mission is to advance the medical sciences by supporting research and other scientific and educational activities.
According to its own website, the Trust has become the largest charitable foundation devoted to funding biomedical science on the planet, and NC Gives reports that BWF was the sixth largest grant-maker in North Carolina for the fiscal year 2005.
History
Henry Solomon Wellcome and Silas Mainville Burroughs formed Burroughs Wellcome & Company in 1880. On the premise that research was fundamental to the development of excellent pharmaceutical products, following the death of Burroughs, Wellcome formed an international network of research organizations that led to what is now the Burroughs Wellcome Fund.
Wellcome consolidated all of the holdings of Burroughs Wellcome & Company, both national and international, under what became the Wellcome Foundation Limited in 1924. Four years after being knighted by King George V, Sir Henry Wellcome died in 1936. Adhering to Sir Henry’s will, all of the corporate shares of the Wellcome Foundation Limited were vested into a trust, named the Wellcome Trust.
The Burroughs Wellcome Fund was formed in 1955 at the behest of Sir Henry Dale, an original trustee to the Wellcome Trust. The Fund focused all its modest resources on furthering the advancement of scientific knowledge until in 1993, when the Fund received a $400 million grant from the Wellcome Trust, creating a whole new level of potential. This new wealth gave the Fund the means to stand alone as an independent foundation.
Background
The Board of Directors of the Burroughs Wellcome Fund (BWF) is comprised of 12 experts in various academic & medical fields, most of them based in Research Triangle Park, North Carolina. No significant political contributions are recorded for any single Board member.
Funding Focuses on Science
The Burroughs Wellcome Fund overtly “encourages applications from physician-scientists, women, and underrepresented minorities” and utilizes competitive award programs to funnel funds to recipients. The Fund maintains committees to oversee grants in six different areas, primarily focesed on research and workforce training: biomedical sciences; infectious diseases; interfaces in science; population and laboratory based sciences; translational research; and science education. Awards are given on a five-year basis, with the exception of the science education which maintains a three-year award. Without question, the Burroughs Wellcome Fund is in fact, “dedicated to advancing the medical sciences by supporting research and other scientific and educational activities.” Moreover, according to the National Academies Press, BWF focuses on funding the specific researcher as opposed to funding merely the project as a whole.
Potential Conflicts
No overt conflicts are apparent, though Board member Philip R. Tracy is associated with the law firm of Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P., which has a number of lobbying clients. Tracy is also a partner with InterSouth Partners, a venture capital firm in Durham that is listed as BWF’s registered tax shelter.
Foundation Assets
According to the most recent available financial statement (for the fiscal year 2005-06), the Burroughs Wellcome Fund has $777,620,142 in assets, including more than $771m in uncharitable-use assets, which are taxable. Most of the funds are invested in corporate stocks & bonds, with earnings funneled back into the charitable trust.
Foundation Staff
The Burroughs Wellcome Fund currently employs a staff of 22, earning a combined compensation of $2,522,098. Its executive director is Enriqueta Bond, Ph.D.
Grant Cycles
The Burroughs Wellcome Fund publishes a schedule of its grant cycles, with different deadlines for each of its six types of grants. Only electronic applications are accepted.
Summary
While the Burroughs Wellcome Fund is nationally active, it is noteworthy as one of North Carolina’s top grant-making non-profit organizations. It maintains a healthy interest in public policy, supporting occasional conferences and legislative issue retreats, but the fund places the vast thrust of its focus squarely on those issues that directly impact the future of the pharmaceutical industry.
For the fiscal year September 1, 2005 - August 31, 2006, the fund made 302 institutional donations of $16,339,780.63, and 210 grants to individuals totaling $9,435,082.95.
Sampling of Grant Activity per year ended 8/31/2006
| Sigma Xi (RTP) | $27,000 |
| Public School Forum of NC | $203,287 |
| National Humanities Foundation (RTP) | $25,000 |
| NC Community Foundation | $2,000 |
| Peace College | $40,000 |
| Triangle Community Foundation | $1,000 |
| Donors Choose (Rocky Mount) | $25,000 |
| Durham Public Education Network | $5,000 |
| NC Museum of Life & Science | $10,000 |
| NC Science Teachers Association | $6,575 |
| NC State University | $14,375 |
| NC Math & Science Education Network | $25,000 |
| James Hunt Jr. Institute for Educational Leadership & Policy (UNC-CH) | $15,000 |
| Johns Hopkins University | $40,000 |
| Duke University School of Medicine | $5,000 |
| Scripps Research Institute | $50,000 |
Total Burroughs Wellcome Fund grants per 2005-06 IRS Form 990: $25,774,864
Contact Information
Enriqueta Bond, Ph.D., Director
Burroughs Wellcome Fund
21 TW Alexander Drive
Durham, NC 27709
Telephone: 919.991.5100
Website: Bwfund.org
