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Annual Report 2019 Annual Report 2019 ADVANCING CHEMISTRY. IMPROVING LIFE. Table of Contents 2019 Highlights 2 The Welch Foundation 4 Financials 6 The Welch Award 8 The Hackerman Award 11 Conference on Chemical Research 14 Programs 17 Foundation Grants 20 Principal Investigators 26 Endowed Chairs 42 Departmental Research Grants 44 4 THE WELCH FOUNDATION Robert A. Welch The Welch Foundation is a legacy to the world from Robert Alonzo Welch, a self-made man with a strong sense of responsibility to humankind, an enthusiastic respect for chemistry and a deep love for the state of Texas. Born in South Carolina to a prominent family that fell on hard economic times, Mr. Welch came to Houston as a youth and later made his fortune in oil and minerals. Over the course of his career and life, he became convinced of the importance of chemistry for the betterment of the world. Scientists, geologists and petroleum engineers were among his close friends and associates as were the civic and business leaders of the day. From For 65 years these associations and his own study, Mr. Welch determined that the pursuit of The Welch Foundation has chemistry and chemical research held great potential for vast good and would led the way in supporting continue to have a valuable impact on business, industry, global leadership and basic chemical research. the human condition. Mr. Welch gave serious thought to the disposition of his estate. His decisions reflected his belief in science and the role it would play in the future. In his will, Mr. Welch stated: “I have long been impressed with the great possibilities for the betterment of mankind that lay in the field of research in the domain of chemistry.” With his death in 1952, Mr. Welch left a generous portion of his estate to his employees and their families. The balance began what is now The Welch Foundation. 2019 ANNUAL REPORT 1 2019 Highlights Adam Kuspa became new Welch Foundation president in September. | Welch Awardees Charles Lieber (left) and Paul Alivisatos with Carin Barth. | Jennifer Doudna chaired the 2019 conference on genome editing. At the end of fiscal year 2019, The “I am so honored to Welch Foundation’s endowment being asked to join the stood at $708 million, and the amount Foundation,” said Dr. Kuspa. it has invested in chemistry totaled “Throughout my career, I approximately $932 million in actual- have been appreciative of the dollar support over the Foundation’s benefits that Welch support 65-year life. brings to chemistry in the In September 2019, Dr. Adam Kuspa state. Having a chance to became the second president and support that mission is both only the third administrative leader of an exciting opportunity and the Foundation in its storied history. an almost-sacred charge. Of Long-time president Norbert Dittrich course, when I first took on the role, The Welch Foundation’s retired after 42 years at the institution none of us had an inkling of the major investment in chemistry and was honored at the 2019 Welch challenge of a pandemic was lurking has totaled approximately Award gala in October. A noted scien- around the corner in 2020. While $932 million tist and researcher, Dr. Kuspa joined the Covid-19 virus didn’t impact our the Foundation from Baylor College operations in 2019 – the focus of this in actual-dollar support of Medicine where most recently he report – it looms large as the publica- since its inception. served as senior vice president and tion goes to print. But with the help dean of research. of our amazing Board of Directors, 2 THE WELCH FOUNDATION UT President Greg Fenves (left) and former Welch board member Ernie Cockrell celebrate a new UT endowed chair named for retiring Welch President Norbert Dittrich. | Uttam Tambar named Hackerman Awardee. Scientific Advisory Board (SAB) and functions, including a potential new create new applications in renewable capable staff, we will continue to focus treatment for kidney cancer. energy, bioimaging and neuroscience. on our mission. My sincere hope is The annual research conference Two members retired from the that one benefit that flows from this in October, “The Chemistry of Genome Scientific Advisory Board: Richard unprecedented circumstance is broader Editing and Imaging,’’ explored the R. Schrock, Massachusetts Institute appreciation for the critical role that latest advances in this breakthrough of Technology, and Peter G. Schultz, science and fundamental research play technique with the potential for curing The Scripps Research Institute. The in improving lives.” disease and adapting agriculture to Welch Foundation is deeply apprecia- The Welch Foundation named meet the challenges of climate change. tive of their invaluable leadership. As Uttam K. Tambar of The University of Welch Scientific Advisory Board previously noted, Catherine J. Murphy, Texas Southwestern Medical Center member Jennifer A. Doudna chaired University of Illinois at Urbana- as the 2019 “rising star” recipient of the conference. Champaign, and Melanie S. Sanford, the Norman Hackerman Award in Armand Paul Alivisatos, University University of Michigan, joined the Chemical Research. His groundbreak- of California, Berkeley, and Charles SAB in January 2019. ing contributions in organic chemistry, M. Lieber, Harvard University, shared There were also notable admin- specifically for selective functional- the 2019 Robert A. Welch Award in istrative changes in December 2019: ization of hydrocarbons, have led to Chemistry. The two scientists helped long-time controller Ron Page was pro- the development of new reactions and define the emerging field of nanochem- moted to chief financial officer, Carla new molecules from abundant and istry and build on their fundamental J. Atmar to director of grant programs, inexpensive materials to perform useful insights and innovative techniques to and Sherry White to senior accountant. 2019 ANNUAL REPORT 3 The Welch Foundation: Fulfilling Our Founder’s Vision Created from an endowment by Texas Welch Foundation Board of Directors and Officers oilman and philanthropist Robert Alonzo Welch, The Welch Foundation is one of the nation’s largest private funding sources for fundamental chem- ical research at universities, colleges and other educational institutions in Texas. For more than 65 years, the Foundation has supported chemistry in Texas through research grants and a CARIN M. BARTH DOUGLAS L. FOSHEE Chair and Director Vice Chair and Director variety of other programs. Following the dictates of Mr. Welch’s will, the Foundation remains true to its mission of supporting fundamental scientific exploration that ultimately helps improve our world. The Foundation’s endeavors are guided by a Board of Directors, Scientific Advisory Board and professional staff GINA A. LUNA FREDERICK W. WILLIAM F. McKEON all committed to building a robust Treasurer and Director BRAZELTON Director scientific community in Texas that Secretary and Director advances basic knowledge. The Board of Directors serves as stewards of The Welch Foundation, overseeing its financial health, operational direction and support for chemistry. ADAM KUSPA NORBERT DITTRICH President Past President 4 THE WELCH FOUNDATION Scientific Advisory Board The Scientific Advisory Board advises the Board of Directors on scientific issues related to the Foundation’s mission. The board is composed of renowned leaders in chemistry and the PETER B. JENNIFER A. JOSEPH L. ROGER D. DERVAN DOUDNA GOLDSTEIN KORNBERG related sciences who evaluate pro- SAB Chair University of The University of Stanford University posals for research grants, review and California Institute California, Texas Southwestern School of Medicine of Technology Berkeley Medical Center recommend finalists for the Welch and Hackerman Awards, and help oversee the other Foundation programs to promote chemistry in Texas. Each year, one member presides over the annual Conference on Chemical Research. W. E. MOERNER CATHERINE J. MELANIE S. RICHARD R. Stanford University MURPHY SANFORD SCHROCK University of Illinois University of Massachusetts at Urbana-Champaign Michigan Institute of Technology PETER G. JAMES L. XIAOWEI SCHULTZ SKINNER ZHUANG The Scripps Research University of Chicago Harvard University Institute Foundation Staff Led by President Adam Kuspa, the staff oversees and implements the day-to-day operations of the Foundation. CARLA J. COLETTE REENA CAROLYN ATMAR BLEASDALE CEGIELSKI KAHLICH Director of Grant Executive Assistant Senior Accountant Senior Accountant Programs JENNIFER RON PAGE SHERRY WHITE MEADOWS Chief Financial Senior Accountant Administrative Officer Assistant/Coordinator 2019 ANNUAL REPORT 5 Statements of Financial Position AS OF AUGUST 31, 2019 AND 2018 2019 2018 ASSETS CASH AND CASH EQUIVALENTS $ 2,467,935 $ 2,062,641 INVESTMENTS 703,185,799 722,085,624 RECEIVABLES: Investment transactions 385,062 387,203 Interest and dividends 204,281 260,962 Other 788,975 255,414 Total receivables 1,378,318 903,579 OTHER ASSETS 1,022,718 585,399 TOTAL $ 708,054,770 $ 725,637,243 LIABILITIES AND NET ASSETS LIABILITIES: Unpaid grants $ 23,375,886 $ 21,218,753 Current and deferred federal excise tax payable 1,499,273 2,730,346 Accounts payable and other 182,339 372,191 Total liabilities 25,057,498 24,321,290 NET ASSETS 682,997,272 701,315,953 TOTAL $ 708,054,770 $ 725,637,243 6 THE WELCH FOUNDATION Statements of Activities AS OF AUGUST 31, 2019 AND 2018 2019 2018 REVENUES, INCOME, AND GAINS (LOSSES): Interest and dividends $ 3,809,825 $ 3,354,594 Oil and gas royalties and other 2,787,970 1,800,546 Net realized gains on
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