Page 50 - Gates-AnnualReport-2017

GATES CENTER OPERATIONS
2017 was the second year of operations under a five-year funding agreement between the Gates Frontiers Fund, the University of Colorado Foundation, the University of Colorado President’s Office and the CU Anschutz Chancellor’s Office. Additionally, the Gates Center facilitated approximately $1.8 million in new philanthropic support for key initiatives described in more detail on pages 19-20, 28-29, 33 and 40-43.
Consistent with our mission and past priorities, center program support of $721,053 was the largest expense category, totaling 29 percent of all spending for 2017. Investments in equipment and operations of the core facilities and the Gates Center laboratories totaled $594,723 in 2017, which was 24 percent of expenses. The balance of our expenses were for marketing and development totaling $530,526 (21 percent), center administration totaling $389,380 (15 percent), and center enrichment, educational activities and commercialization support totaling $285,939 (11 percent).
The Gates Center net of sources less expenditures for 2017 was a gain of $78,379 for the calendar year ended 12/31/2017. Our fund balance for the Gates Center was $159,177 at calendar year end.
GATES BIOMANUFACTURING FACILITY OPERATIONS
In its third year of operations, the Gates Biomanufacturing Facility generated $1,726,357 in revenue from a combination of outside for-profit companies and Anschutz-related laboratories. We also received an additional $3,125,000 from our operating partners. With cost of goods sold and operating costs totaling $5,238,907 and capital expenditures of $240,764, the Gates Biomanufacturing Facility reported a net loss of $628,313 for the calendar year ended 12/31/17. The GBF fund balance was $131,365 as of calendar year end.
50 Gates Center for Regenerative Medicine