The V Foundation
- Assets
- $79.7m
- Revenue
- $38.3m
- Investments
- $0.0
- Employees
- 60
- Location
- Cary, NC
- Founding
- 06/1993
- Data as of
- 09/2022
- EIN
- 13-3705951
Organization Overview
The V Foundation is located in Cary, NC. The organization was established in 1993. According to its NTEE Classification (I20) the organization is classified as: Crime Prevention, under the broad grouping of Crime & Legal-Related and related organizations. As of 09/2022, V Foundation employed 60 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 09/2022, V Foundation generated $38.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $33.1m during the year ending 09/2022. While expenses have increased by 3.8% per year over the past 7 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 402 individual grants totaling $164,399,799. 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
2022
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 2022, THE FOUNDATION AWARDED 62 V SCHOLAR GRANTS TO IDENTIFY, RETAIN AND FURTHER THE CAREERS OF TALENTED YOUNG INVESTIGATORS, 19 GRANTS IN TRANSLATIONAL CLINICAL RESEARCH, AND 22 DESIGNATED GRANTS INSPIRED BY PARTICULAR AREAS OF SCIENTIFIC INTEREST AND/OR GEOGRAPHICREACH. THESE GRANTS WERE AWARDS TO RESEARCHERS AT LEADING INSTITUTIONS ACROSS 26 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 |
|---|---|---|---|
Shane Jacobson CEO | Officer | 20 | $421,965 |
Jefferson Parker Former COO | 0 | $385,200 | |
Pilewski Phil Executive Director Of Development | 28 | $162,684 | |
Bumgardner Ritt Rebecca Major Gifts Officer | 28 | $147,630 | |
Devin Gilreath CFO | Officer | 30 | $141,744 |
Norm Bowling Former Crmo | 0 | $139,279 |
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 | $12,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,624,612 |
| Noncash contributions included in lines 1a–1f | $1,401,446 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,624,612 |
| Total Program Service Revenue | $0 |
| Investment income | $1,478,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $228,597 |
| Net Rental Income | $92,647 |
| Net Gain/Loss on Asset Sales | -$159,558 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,304,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,738,141 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $600,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $905,424 |
| Compensation of current officers, directors, key employees. | $330,499 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,248,078 |
| Pension plan accruals and contributions | $75,697 |
| Other employee benefits | $445,904 |
| Payroll taxes | $204,701 |
| 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 | $215,748 |
| Fees for services: Other | $501,949 |
| Advertising and promotion | $404,689 |
| Office expenses | $360,109 |
| Information technology | $360,100 |
| Royalties | $0 |
| Occupancy | $110,104 |
| Travel | $228,023 |
| 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 | $109,778 |
| Insurance | $50,284 |
| All other expenses | $33,662 |
| Total functional expenses | $33,070,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,706,649 |
| Savings and temporary cash investments | $10,919,847 |
| Pledges and grants receivable | $6,870,488 |
| Accounts receivable, net | $470,298 |
| 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 | $173,055 |
| Net Land, buildings, and equipment | $1,669,440 |
| Investments—publicly traded securities | $55,776,973 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $50,000 |
| Other assets | $85,529 |
| Total assets | $79,722,279 |
| Accounts payable and accrued expenses | $1,350,322 |
| Grants payable | $28,444,936 |
| 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 | $8,920 |
| Total liabilities | $29,804,178 |
| Net assets without donor restrictions | $24,721,366 |
| Net assets with donor restrictions | $25,196,735 |
| 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 | $79,722,279 |
Grants Awarded
Over the last fiscal year, The V Foundation has awarded $25,728,140 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: CANCER RESEARCH | $1,800,000 |
Los Angeles, CA PURPOSE: CANCER RESEARCH | $1,345,000 |
Salt Lake City, UT PURPOSE: CANCER RESEARCH | $1,200,000 |
Philadelphia, PA PURPOSE: CANCER RESEARCH | $1,112,500 |
Somerville, MA PURPOSE: CANCER RESEARCH | $1,000,000 |
La Jolla, CA PURPOSE: CANCER RESEARCH | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The V Foundation has recieved totaling $13,000.
| Awarding Organization | Amount |
|---|---|
Denman Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Darrell And Patricia Steagall Family Foundation Gastonia, NC PURPOSE: CANCER RESEARCH | $2,000 |
The Summit Beverage-Markovich Family Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Endowment Analysis
| Beg. Balance | $43,914,780 |
| Earnings | -$4,468,793 |
| Admin Expense | $196,382 |
| Net Contributions | $1,630,419 |
| Other Expense | $2,156,838 |
| Ending Balance | $38,723,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The V Foundation Cary, NC | $79,722,279 | $38,304,202 |
Association Of State And Territorial Chronic Disease Decatur, GA | $3,853,542 | $31,002,701 |
Specialized Alternatives For Families And Youth Of So Carolina Columbia, SC | $1,655,519 | $12,087,859 |
Senior Housing Crime Prevention Foundation Inc Memphis, TN | $90,591,818 | $2,609,996 |
F A I T H In Rabun County Inc Clayton, GA | $3,044,403 | $2,764,736 |
National Technical Investigators Association Falls Church, VA | $4,654,486 | $1,874,963 |
Albemarle Hopeline Inc Elizabeth City, NC | $2,571,840 | $2,063,282 |
Fairfield Behavioral Health Services Winnsboro, SC | $1,955,073 | $1,510,724 |
Steps To Hope Inc Columbus, NC | $3,657,411 | $2,135,795 |
Momentum Nonprofit Partners Memphis, TN | $4,208,856 | $1,905,877 |
Palmetto Citizens Against Sexual Assault Lancaster, SC | $527,971 | $826,201 |
Memphis-Shelby Crime Commission Memphis, TN | $765,967 | $1,294,679 |