Foundation Fighting Blindness Retinal Degeneration Fund
- Assets
- $47.3m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Columbia, MD
- Founding
- 08/2004
- Data as of
- 06/2023
- EIN
- 45-0524687
Organization Overview
Foundation Fighting Blindness Retinal Degeneration Fund is located in Columbia, MD. The organization was established in 2004. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, under the broad grouping of Medical Research and related organizations. As of 06/2023, Foundation Fighting Blindness Retinal Degeneration Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Fighting Blindness Retinal Degeneration Fund 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 06/2023, Foundation Fighting Blindness Retinal Degeneration Fund generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $1.0m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND'S MISSION IS TO ACCELERATE THE TRANSLATION OF RETINAL LABORATORY-BASED RESEARCH INTO CLINICAL TRIALS TO EXPEDITE THE COMMERCIALIZATION OF PATIENT THERAPIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THREE LARGEST PROGRAM SERVICES ACCOMPLISHMENTS (AS MEASURED BY EXPENSES) FOR THE FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND (FFB-RDF) DURING FISCAL 2023 WERE EQUITY INVESTMENTS IN OPUS GENETICS, PERCEIVE BIO, AND AMBER BIO. OPUS GENETICS AND PERCEIVE BIO ARE BOTH CLINICALLY STAGED GENE THERAPY COMPANIES, AND AMBER BIO IS A PRECLINICAL STAGE COMPANY. EACH OF THESE COMPANIES IS FOCUSED ON ADVANCING PROMISING THERAPIES FOR RETINAL DEGENERATIVE DISEASES.FISCAL 2023 SUMMARY:FFB-RDF INVESTED AN ADDITIONAL $7,000,000 IN OPUS GENETICS TO HELP ADVANCE ITS PIPELINE OF ORPHAN INHERITED RETINAL DISEASE INDICATIONS INCLUDING LCA5, BEST1, RDH12 AND MERTK. THE FIRST PATIENT WAS DOSED IN THE LCA5 PHASE I/II CLINICAL TRIAL IN AUGUST 2023. FFB-RDF INVESTED $2,564,098 IN PERCEIVE BIO TO HELP ADVANCE A CLINICAL-STAGE COMPLEMENT FACTOR H GENE THERAPY PROGRAM FOR THE TREATMENT OF DRY AMD, AND AN EARLY STAGED DUAL LEUCINE KINASE-DEPENDENT INHIBITOR PROGRAM AIMED AT AXONAL NEUROPROTECTION FOR THE TREATMENT OF GLAUCOMA AND RETINAL DISEASES.FFB-RDF INVESTED $1,800,000 IN AMBER BIO TO HELP SUPPORT THE DEVELOPMENT OF AN RNA EDITING PLATFORM THAT WILL BE FIRST APPLIED TO RETINAL DEGENERATIVE DISEASES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Blumenkranz MD Mms Director | Trustee | 1 | $0 |
David Brint Ex Officio Director | Trustee | 1 | $0 |
Warren Thaler Director | Trustee | 1 | $0 |
Jose-Alain Sahel MD Director | Trustee | 1 | $0 |
Adrienne Graves PHD Chairman | Trustee | 1 | $0 |
Kelly Lisbakken Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schaner & Lubitz Llc Legal | 6/29/18 | $116,860 |
Janet K Cheetham Scientific Consultation | 6/29/18 | $125,759 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $14,920,274 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,920,274 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,603,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,316,837 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $674,390 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,027 |
| Pension plan accruals and contributions | $33,987 |
| Other employee benefits | $65,187 |
| Payroll taxes | $43,867 |
| Fees for services: Management | $17,342 |
| Fees for services: Legal | $48,523 |
| Fees for services: Accounting | $7,823 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,824 |
| Office expenses | $6,804 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,396 |
| Travel | $27,835 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,560 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,523 |
| Total functional expenses | $1,014,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $313,572 |
| Savings and temporary cash investments | $0 |
| 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 | $1,965,012 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,199 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,780,078 |
| Intangible assets | $0 |
| Other assets | $7,238,206 |
| Total assets | $47,303,067 |
| Accounts payable and accrued expenses | $65,457 |
| 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 | $65,457 |
| Net assets without donor restrictions | $47,237,610 |
| 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 | $47,303,067 |
Grants Awarded
Over the last fiscal year, Foundation Fighting Blindness Retinal Degeneration Fund has awarded $5,714,272 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
DOHENY EYE INSTITUTE PURPOSE: RESEARCH | $363,032 |
JAEB CENTER HEALTH RESEARCH PURPOSE: RESEARCH | $1,102,640 |
JOHNS HOPKINS UNIVERSITY PURPOSE: RESEARCH | $248,600 |
NACUITY PHARMACUTICALS INC PURPOSE: RESEARCH | $4,000,000 |