The V Foundation
- Assets
- $99.6m
- Revenue
- $47.8m
- Investments
- $0.0
- Employees
- 76
- Location
- Cary, NC
- Founding
- 06/1993
- Data as of
- 09/2023
- EIN
- 13-3705951
Organization Overview
The V Foundation is located in Cary, NC. The organization was established in 1993. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Medical Research and related organizations. As of 09/2023, V Foundation employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. V Foundation 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 09/2023, V Foundation generated $47.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $50.4m during the year ending 09/2023. While expenses have increased by 8.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, V Foundation has awarded 463 individual grants totaling $217,083,536. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PUT AN END TO CANCER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY 2023, THE FOUNDATION AWARDED 26 V SCHOLAR GRANTS TO IDENTIFY, RETAIN AND FURTHER THE CAREERS OF TALENTED YOUNG INVESTIGATORS, 25 GRANTS IN TRANSLATIONAL CLINICAL RESEARCH, 19 DESIGNATED GRANTS INSPIRED BY PARTICULAR AREAS OF SCIENTIFIC INTEREST AND/OR GEOGRAPHIC REACH, AND 5 ALL-STAR GRANTS TO REINVEST IN PREVIOUS V SCHOLAR OR TRANSLATIONAL GRANT RECIPIENTS. THESE GRANTS WERE AWARDS TO RESEARCHERS AT LEADING INSTITUTIONS ACROSS 23 STATES AND CANADA. THE V FOUNDATION ENSURES THAT RESOURCES REACH THE BEST AND MOST PROMISING CANCER RESEARCHERS AND PROJECTS. WE ASSURE DONORS THAT THEY ARE MAKING A SOUND INVESTMENT BECAUSE WE TAKE A STRATEGIC APPROACH TO OUR FUNDING. WE FOCUS ON EMERGING, HIGH-IMPACT OPPORTUNITIES AND ADDRESS CRITICAL KNOWLEDGE GAPS IN SCIENCE. WE REALIZE THAT, FOR SOMEONE AT RISK OF CANCER OR ALREADY BEING TREATED FOR IT, TIME IS CRITICAL. THERE IS NOT A MOMENT TO LOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Bast Jr MD Vice-Chair | OfficerTrustee | 1 | $0 |
George Bodenheimer Secretary | OfficerTrustee | 1 | $0 |
Evan Goldberg Chair | OfficerTrustee | 1 | $0 |
Constance E Skidmore Treasurer | OfficerTrustee | 1 | $0 |
Pamela Valvano Strasser Chairwoman | OfficerTrustee | 1 | $0 |
Nicholas P Valvano President Emeritus | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Imagine Group Marketing Solutions | 9/29/22 | $128,761 |
Utopic Advertising | 9/29/22 | $100,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $20,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,232,411 |
| Noncash contributions included in lines 1a–1f | $437,079 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,232,411 |
| Total Program Service Revenue | $0 |
| Investment income | $2,350,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $135,485 |
| Net Rental Income | $96,708 |
| Net Gain/Loss on Asset Sales | -$2,170 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,813,363 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,478,096 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,200,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,022,019 |
| Compensation of current officers, directors, key employees. | $356,462 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,729,273 |
| Pension plan accruals and contributions | $81,764 |
| Other employee benefits | $544,808 |
| Payroll taxes | $258,773 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $290,743 |
| Fees for services: Other | $669,951 |
| Advertising and promotion | $1,039,733 |
| Office expenses | $494,132 |
| Information technology | $418,155 |
| Royalties | $0 |
| Occupancy | $156,886 |
| Travel | $292,277 |
| 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 | $106,513 |
| Insurance | $50,999 |
| All other expenses | $42,757 |
| Total functional expenses | $50,407,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $992,842 |
| Savings and temporary cash investments | $29,717,446 |
| Pledges and grants receivable | $5,365,211 |
| Accounts receivable, net | $899,024 |
| 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 | $253,475 |
| Net Land, buildings, and equipment | $1,635,492 |
| Investments—publicly traded securities | $60,499,329 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $50,000 |
| Other assets | $193,159 |
| Total assets | $99,605,978 |
| Accounts payable and accrued expenses | $765,785 |
| Grants payable | $47,772,994 |
| 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 | $143,437 |
| Total liabilities | $48,682,216 |
| Net assets without donor restrictions | $30,550,108 |
| Net assets with donor restrictions | $20,373,654 |
| 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 | $99,605,978 |
Grants Awarded
Over the last fiscal year, The V Foundation has awarded $42,164,816 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
ATRIUM HEALTH WAKE FOREST BAPTIST COMPREHENSIVE CANCER CENTER PURPOSE: CANCER RESEARCH | $50,000 |
BOSTON CHILDREN'S HOSPITAL PURPOSE: CANCER RESEARCH | $800,000 |
CITY OF HOPE COMPREHENSIVE CANCER CENTER PURPOSE: CANCER RESEARCH | $600,000 |
CHILDREN'S HOSPITAL OF PHILADELPHIA PURPOSE: CANCER RESEARCH | $800,000 |
CHILDREN'S HOSPITAL OF PITTSBURGH (UPMC) PURPOSE: CANCER RESEARCH | $100,000 |
CLEVELAND CLINIC LERNER RESEARCH INSTITUTE PURPOSE: CANCER RESEARCH | $600,000 |