We're not a private foundation and are not subject to private foundation rules. We don't want to be a private foundation, but we need clarification of the definition of an MRO. What does it allow us to do and not to do? We also want to know if there are any outstanding penalties or tax issues unresolved.
The Institute has been growing very fast. But it soon is going to come into equilibrium, because we now know what our endowment is. We intend to spend at least 3½ percent of that, and probably more, over the next few years. So our spending will increase a little bit relative to NIH, but not a great deal more. We still have to grow though; we're not fully mature in our new incarnation.
It was a direct ambition of ours not to get too concentrated. We're interested really in supporting excellent people, but ...
