2025-05-28T11:41:32-07:00 2024-09-30 990 2023-10-01 986039547 LICR CHARITABLE TRUST LICR 2124501500 600 Third Avenue - 32nd Floor New York NY 10016 Edward A McDermott Jr Trustee 2124501550 2025-05-28 1 2023 2025-03-06 01:10:19Z Edward A McDermott Jr 600 Third Avenue 32nd Floor New York NY 10016 527366 0 X https://www.ludwigcancerresearch.org X 1988 BD The organization is a Bermudian trust whose mission is to operate in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a Swiss not-for-profit organization, by maintaining oversight of the management of the Institute's programs and operations. 5 4 0 0 0 0 0 0 0 0 156454 149784 0 0 156454 149784 0 0 0 0 310860 312762 0 0 0 166348 140825 477208 453587 -320754 -303803 3441952 3138149 0 0 3441952 3138149 The organization is a Bermudian trust whose mission is to operate in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a Swiss not-for-profit organization, by maintaining oversight of the management of the Institute's programs and operations. 0 0 272085 0 0 Oversight of the management Ludwig Institute for Cancer Research Ltd 0 0 0 272085 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 6 0 0 0 1 BD 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 1 1 0 0 0 1 0 1 0 0 1 0 0 0 0 X Christopher T Conroy 2124501547 600 Third Avenue - 32nd Floor New York NY 10016 Edward A McDermott Jr Individual Trustee 1 47 X 52788 899019 93653 John L Notter Individual Trustee 1 10 X 52788 103701 0 John D Gordan III Individual Trustee 1 3 X 52788 40934 0 Dr Jedd D Wolchok Individual Trustee 1 4 X 52788 40934 0 Sir John Bell Individual Trustee 1 0 X 52788 0 0 Conyers Trust Company (Bermuda) Ltd Administrative Trustee 1 0 X 52788 0 0 316728 1084588 93653 0 0 1 0 0 0 0 42366 0 0 42366 0 0 0 0 0 0 0 0 0 0 485000 0 377582 0 107418 0 107418 0 0 107418 0 149784 0 0 149784 0 0 312762 272085 40677 68411 68411 50238 50238 21100 21100 Bank charges 904 0 904 0 Miscellaneous 172 0 172 0 453587 272085 181502 0 0 0 7636 42278 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3434316 3095871 0 0 0 0 0 0 0 0 3441952 3138149 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3441952 3138149 0 0 3441952 3138149 3441952 3138149 -303803 0 0 0 0 0 X 0 1 X 0 0 X X 1 Ludwig Institute for Cancer Research Ltd 237121131 4 1 272085 0 1 272085 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule A, Part IV, Section C, Line 1 By the terms of the organization's governing documents, its purposes and activities are to operate solely for the benefit of and in connection with the Ludwig Institute for Cancer Research Ltd ("the Institute"), a public charity recognized by the IRS as a medical research organization described in Section 170(b)(1)(a)(iii) of the Internal Revenue Code, by maintaining oversight of the management of the Institute's programs and operations. To implement this connection between the two organizations, the organization's governing documents provide that, at all times, (i) a majority of the organization's Trustees must also be Members of the Institute's Board of Directors and (ii) a Trustee is always Chairperson of the Institute's Board of Directors. To satisfy this requirement, four of the five current voting Trustees also served on the Institute's Board of Directors, and Edward A. McDermott, Jr., a Trustee of the organization, served as Chairperson of the Institute's Board of Directors. John D. Gordan, III was both a Trustee of the organization, and a Member of the Institute's Board, serving as Chairperson of its Audit Committee and a Member of its Compensation and Executive Committees. In addition, three of the four voting Trustees serving on the Board of the Institute also comprised the majority of the Institute's Executive Committee. 0 0 X 1163046 996489 0 0 16773 1013262 149784 0 0 0 149784 509756 0 0 0 0 0 509756 0 -56169 -56169 453587 Schedule D, Part X, Line 2 The Trust qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, is not subject to federal income tax. The Trust is not subject to tax in Bermuda, where it was established and is legally resident. The Trust recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the Trust's exempt purpose is subject to tax under Internal Revenue Code Section 511. The Trust did not recognize any unrelated business income tax liability for the years ended September 30, 2024 and 2023. Schedule D, Part XI, Line 2d Accrued income Schedule D, Part XII, Line 4b Accrued items. Europe (including Iceland and Greenland) 0 0 Program Services Oversee LICR 54417 North America (including Canada and Mexico, but not the United States) 0 0 40677 0 0 95094 0 0 1 0 0 0 Schedule F, Part I, Line 3 The organization uses the cash method of accounting in order to account for these expenditures. 0 1 0 0 0 0 0 0 0 Edward A McDermott Jr Individual Trustee 52788 899019 0 0 0 0 0 53026 0 40627 52788 992672 0 0 Schedule J, Part I, Line 4 Edward A. McDermott, Jr. participated in a supplemental, non-qualified pension retirement plan ("the plan") maintained by The Ludwig Group, Inc. ("LGI"), a related organization of LICR Charitable Trust. The purpose of LGI'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 1975, as amended ("ERISA") and a non-qualified, unfunded deferred compensation plan for a select group of management or highly compensated employees under ERISA, are payable from the general assets of LGI. LGI may establish and fund a trust in order to aid it in providing benefits due under the plan. Within the amount disclosed on Form 990, Part VII, Section A, Line 1(a)(1), Column (F), $41,776 is attributable to this plan. Form 990, Part VI, Section A, Line 2 Four of the five Individual Trustees are also Members of the Board of Directors of the Ludwig Institute for Cancer Research Ltd and LICR Fund, Inc. Form 990, Part VI, Section A, Line 3 The LICR Charitable Trust ("the Trust") entered into an Agreement in 1997 (renewed in 2008) with The Ludwig Group, Inc. ("LGI") whereby LGI provides administrative services to the Trust not otherwise rendered by the Trust's Trustees or its service providers. Form 990, Part VI, Section A, Line 7a The organization's governing body comprises six Trustees. The organization's governing trust indenture designates one Trustee, resident in Bermuda, as the "Administrative Trustee" with the other Trustees as "Individual Trustees". Article VIII(F) of the trust indenture confers voting rights on the Individual Trustees only. The five Individual Trustees are the only members of the governing body with the power to vote on all matters that come before the governing body. Form 990, Part VI, Section B, Line 11b The draft Form 990 is reviewed and approved by all Trustees prior to being filed with the Internal Revenue Service. Form 990, Part VI, Section B, Line 12a The sole programmatic and operational activities of the LICR Charitable Trust ("the Trust") are to maintain oversight and control of the management of the Ludwig Institute for Cancer Research Ltd ("the Institute"), by overseeing and engaging with its Board of Directors. Given the limited scope of the Trustees' activities, certain policies are deemed unnecessary. Form 990, Part VI, Section B, Line 15 The Trust uses the services of LGI, an administrative services company, as described above in Schedule O for Form 990, Part VI, Section A, Line 3. As such, the Trust does not employ any officers, top management officials, or key employees. Form 990, Part VI, Section C, Line 19 The Trust's Form 990 is available upon request. The Trust makes no other documents available to the public. Ludwig Institute for Cancer Research Ltd 600 Third Avenue - 32nd Fl New York NY 10016 237121131 Cancer research SZ 501(c)(3) Line 4 LICR Charitable Trust 1 LICR Fund Inc 600 Third Avenue - 32nd Fl New York NY 10016 133573053 Supports Ludwig Institute for Cancer Research Ltd DE 501(c)(3) Line 12a, Type I Ludwig Institute for Cancer Research Ltd 0 Universe Tankships Inc Trust Complex Ajeltake Is Ajeltake Rd Majuro RM RM MH96960 131603827 Holding company RM Ludwig Institute for Cancer Research Ltd C 0 0 The Ludwig Group Inc 600 Third Avenue - 32nd Fl New York NY 10016 132808920 Administrative services DE Universe Tankships Inc C 0 0 Ludwig Technologies Inc 600 Third Avenue - 32nd Fl New York NY 10016 273166967 Holding company DE Ludwig Institute for Cancer Research Ltd C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 Schedule R, Part II Ludwig Institute for Cancer Research Ltd is an international not-for-profit Institute committed to preventing and controlling cancer through integrated laboratory and clinical research. LICR Fund, Inc. is a Delaware not-for-profit corporation and a supporting organization of the Institute, which provides support for the Institute's conduct of medical research activities.