Page 42 - Gates-AnnualReport-2016
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 FINANCIAL OVERVIEW
  Research performed by Gates Center members is funded directly through federal and state research grants, private foundations, individual donations and support from the Gates Center. In addition to providing research support to its members, the Gates Center operates the Gates Biomanufacturing Facility (see page 32) and three core laboratory facilities (Flow Cytometry, Morphology and Phenotyping, and Bioengineering), and it provides laboratory infrastructure to members for work done outside of the core facilities. Commercialization support, education and outreach, and marketing and development activities are also provided as part of the overall Gates Center mission.
GATES CENTER OPERATIONS
2016 was the first year of operations under a five-year funding agreement between the Gates Frontiers Fund, the University of Colorado Foundation and the University of Colorado President’s Office in which the Gates Center receives $2.4 million per year. The Gates Center received an additional $148,000 in new philanthropic support for key operational initiatives, including the Gates Summer Internship Program, research and equipment.
Consistent with our mission and past priorities, center program support of $976,000 was the largest expense category, totaling 40 percent of all spending for 2016. Investments in equipment and operations of the core facilities and the Gates Center laboratories totaled $495,000 in 2016, which was 20 percent of expenses. The balance of our expenses were for center administration totaling $377,000 (16 percent), marketing and development totaling $337,000 (14 percent) and education, outreach and commercialization support totaling $255,000 (10 percent).
The Gates Center net of sources less expenditures for 2016 was $107,154. Our combined fund balance for the Gates Center was $24,784 as of December 31, 2016.
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