Wellcome Leap Inc is a private foundation supported by The Wellcome Trust, based in Culver City, California. The organization focuses on advancing scientific and technological innovations through transformative projects in health and technology, funding initiatives at scale with a commitment to delivering breakthroughs in years rather than decades.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$252.2M
-37.5% YoY
Annual Giving
$71.0M
+14662.5% YoY
Grant Count
108
+10700.0% YoY
Avg Grant Size
$657K
+36.7% YoY
Mission & Focus Areas
Wellcome Leap is committed to funding unconventional projects at scale. The organization's program areas include:
Delta Tissue — A $55 million effort bringing together experts in life sciences and engineering from universities, foundations, and the private sector to develop integrated platforms for predicting changes in tissue state. The initiative aims to build multiscale, multimodal, and widely accessible platforms that can profile tissue states and predict transitions between states, creating what the organization describes as a "tissue time machine" to enable intervention in the present.
Multi-Channel Psych (MCPsych) — A program developing an integrated model of anhedonic depression that captures both internal biological factors and externally-manifested, quantifiable measures. The program seeks to reveal biological mechanisms of anhedonia by synchronizing investigations across genes, molecules, cells, animal models, and humans. MCPsych aims to double the number of people who receive effective treatment on the first try and reveal mechanistic understanding sufficient to identify effective treatments for half of non-responsive patients.
Women's Health Research — A $100 million commitment (in partnership with another organization) focused on delivering breakthroughs in women's health in years rather than decades.
Grantmaking
Wellcome Leap awarded approximately $481,000 in grants in the most recent year, with an average grant size of $1,000. The organization is open to new applicants, with approximately 12% of new applicants funded.
Grant Range
of $1,000. The organization is open to new applicants, with approximately 12% of new applicants funded.
Average Grant
of $1,000. The organization is open to new applicants, with approximately 12% of new applicants funded.
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Geographic Focus
Where this funder awards grants
The organization has a geographic funding focus in Massachusetts, with involvement in Cambridge-based initiatives.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $403.4 million (representing a 2.6% increase from the previous year)
- Total Revenues: $3,075,446
- Total Expenses: $158,613,185
- Number of Employees: 8
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $252,214,540 | $403,398,604 | $553,318,259 |
| Revenue | $799,917 | $3,075,446 | $346,259,833 |
| Expenses | $155,779,752 | $158,613,185 | $87,243,617 |
| Qualifying Distributions | $117,074,778 | $170,271,299 | $68,573,118 |
| Net Investment Income | $622,477 | $704,665 | $128,592 |
| Distributable Amount | $2,420,689 | $1,893,691 | $1,272,083 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
51 grants across all recorded years
Open Grants
1 open opportunity from Wellcome Leap Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Regina Dugan — Director, President, and CEO
- Jay Flatley — Director and Chair
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| REGINA DUGAN | DIRECTOR, PRESIDENT & CEO | 40 | $790,408 |
| JAY FLATLEY | DIRECTOR & CHAIR | 1 | $75,000 |
| MICHAEL FERGUSON | DIRECTOR | 1 | — |
| JEREMY FARRAR | DIRECTOR | 1 | — |
| RACHEL ROGERS | SECRETARY (THROUGH JULY 2024) | 40 | $163,450 |
| HO CHING | DIRECTOR | 1 | $12,500 |
| FIONA POWRIE | DIRECTOR | 1 | — |
| RICHARD WOOLDRIDGE | COO | 40 | $601,923 |
Recent News & Activity
Recent developments and announcements
Wellcome Leap has announced major partnership commitments in women's health research, including a $100 million commitment to women's health research and partnerships focused on accelerating development and access to pregnancy and stillbirth risk-reduction tools for women worldwide.
Wellcome Leap and Pivotal Commit $100 Million to Women's Health ...Subject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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