Foundation For A Cure For Mitochondrial Disease Inc
- Assets
- $3.4m
- Revenue
- $277.8k
- Investments
- $236.6k
- Employees
- 0
- Location
- Cheshire, CT
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 06-1602020
Organization Overview
Foundation For A Cure For Mitochondrial Disease Inc is located in Cheshire, CT. The organization was established in 2001. According to its NTEE Classification (H20) the organization is classified as: Birth Defects & Genetic Diseases Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For A Cure For Mitochondrial Disease Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Foundation For A Cure For Mitochondrial Disease Inc generated $277.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $171.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FOR A CURE FOR MITOCHONDRIAL DISEASE, INC. EXISTS TO SUPPORT RESEARCH TO FIND MEDICAL HOPE FOR CHILDREN AND ADULTS AFFLICTED WITH VARIOUS FORMS OF MITOCHONDRIAL DISEASE. TO THAT END, THE FOUNDATION STUDIES VARIOUS RESEARCH PROJECTS BEING CONSIDERED OR CONDUCTED AROUND THE UNITED STATES AND HELPS TO FUND THE PROGRAMS FOUND MOST PROMISING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT AWARDS TO FURTHER THE RESEARCH TO FIND A CURE FOR MITOCHONDRIAL DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Cunningham President | OfficerTrustee | 3 | $0 |
Sandra Cunningham Vice Preside | OfficerTrustee | 2 | $0 |
William Patrick Balch Treasurer | OfficerTrustee | 2 | $0 |
Gregg T Cunningham Secretary | OfficerTrustee | 1 | $0 |
Gregory M Even Director | Trustee | 1 | $0 |
Myles Gibbons Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $62,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,485 |
| Total Program Service Revenue | $0 |
| Investment income | $75,397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,700 |
| Net Income from Fundraising Events | $30,095 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $277,765 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $65,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,220 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $25 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $542 |
| All other expenses | $0 |
| Total functional expenses | $171,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,500 |
| Savings and temporary cash investments | $58,335 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,849,688 |
| Investments—other securities | $236,602 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,406,125 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,406,125 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,406,125 |
Grants Awarded
Over the last fiscal year, Foundation For A Cure For Mitochondrial Disease Inc has awarded $280,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: MEDICAL RESEARCH | $175,000 |
PHENO MATRIX INC PURPOSE: MEDICAL RESEARCH | $75,000 |
New York, NY PURPOSE: MEDICAL RESEARCH | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Foundation For A Cure For Mitochondrial Disease Inc has recieved totaling $87,863.
| Awarding Organization | Amount |
|---|---|
Ayco Charitable Foundation Cohoes, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $77,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,721 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $142 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cardiovascular Research Foundation New York, NY | $57,426,030 | $52,277,749 |
New York Stem Cell Foundation Inc New York, NY | $75,950,014 | $43,590,530 |
The National Hemophilia Foundation New York, NY | $46,786,068 | $26,439,522 |
Hauptman-Woodward Medical Research Institute Inc Buffalo, NY | $26,101,769 | $9,359,091 |
Fshd Society Randolph, MA | $6,079,315 | $3,508,920 |
Hearing Health Foundation New York, NY | $12,344,240 | $5,730,095 |
Center For Human Genetics Inc Cambridge, MA | $9,835,244 | $2,410,975 |
Hereditary Disease Foundation New York, NY | $15,507,063 | $4,059,819 |
Cerebral Palsy Alliance Research Foundation New York, NY | $1,906,191 | $2,233,194 |
Everyone Reading Inc Brooklyn, NY | $262,422 | $247,442 |
The Kat6a Foundation Inc West Nyack, NY | $681,392 | $231,443 |
Sportsometry Inc New Haven, CT | $48,776 | $219,551 |