Foundation For Neurologic Diseases
- Assets
- $42.4m
- Revenue
- $7.2m
- Investments
- $40.1m
- Employees
- 4
- Location
- Newburyport, MA
- Founding
- 10/1988
- Data as of
- 12/2021
- EIN
- 04-3015469
Organization Overview
Foundation For Neurologic Diseases is located in Newburyport, MA. The organization was established in 1988. According to its NTEE Classification (H96) the organization is classified as: Neurology & Neuroscience Research, under the broad grouping of Medical Research and related organizations. As of 12/2021, Foundation For Neurologic Diseases employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Neurologic Diseases 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 Neurologic Diseases generated $7.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Foundation For Neurologic Diseases has awarded 17 individual grants totaling $1,174,156. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS DEDICATED TO FINDING THE CAUSES OF AND PROVIDING TREATMENTS FOR COMPLEX, CHRONIC DISEASES THAT PREMATURELY DESTROYS BRAIN FUNCTION. FOCUS IS ON ALZHEIMER'S, MULTIPLE SCLEROSIS AND PARKINSON'S DISEASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS RESEARCH IN THE CAUSES OF AND TREATMENTS FOR ALZHEIMERS DISEASE.
THE FOUNDATION SUPPORTS RESEARCH IN THE CAUSES OF AND TREATMENTS FOR MULTIPLE SCLEROSIS.
GENERAL SUPPORT FOR RESEARCH IN NEUROLOGICAL DISEASES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis J Selkoe President | OfficerTrustee | 40 | $242,706 |
Karen Hodge Executive Director | Officer | 40 | $149,360 |
Howard L Weiner Treasurer | OfficerTrustee | 10 | $57,000 |
Andrew Bounas Director | Trustee | 1 | $0 |
Jon G Auerbach Director | Trustee | 1 | $0 |
Joanne S Chertok Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $226,895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $226,895 |
| Total Program Service Revenue | $1,852,642 |
| Investment income | $413,754 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,684,787 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,178,078 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,119,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $467,202 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,375 |
| Payroll taxes | $30,662 |
| Fees for services: Management | $4,425 |
| Fees for services: Legal | $15,829 |
| Fees for services: Accounting | $16,055 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $33,307 |
| Information technology | $36,754 |
| Royalties | $0 |
| Occupancy | $21,550 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,866 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,504 |
| All other expenses | $1,352,186 |
| Total functional expenses | $3,186,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,061,440 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,204,838 |
| Accounts receivable, net | $28,250 |
| 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 | $0 |
| Investments—other securities | $40,078,126 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,372,654 |
| Accounts payable and accrued expenses | $52,947 |
| 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 | $52,947 |
| Net assets without donor restrictions | $41,080,233 |
| Net assets with donor restrictions | $1,239,474 |
| 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 | $42,372,654 |
Grants Awarded
Over the last fiscal year, Foundation For Neurologic Diseases has awarded $253,856 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Gainesville, FL PURPOSE: Research | $162,956 |
Somerville, MA PURPOSE: Research | $50,000 |
Lawrence, KS PURPOSE: Research | $40,900 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Neurologic Diseases has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Laurence B Flood Foundation Inc Blue Hill, ME PURPOSE: GENERAL USE | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Winifred Masterson Burke Medical Research White Plains, NY | $9,563,124 | $17,375,898 |
Institute For Neurodegenerative Disorders Inc New Haven, CT | $7,010,755 | $8,708,583 |
Regenerative Research Foundation Rensselaer, NY | $4,518,761 | $5,099,449 |
Foundation For Neurologic Diseases Newburyport, MA | $42,372,654 | $7,178,078 |
Dent Neurosciences Research Center Inc Amherst, NY | $5,193,271 | $2,403,366 |
Harvard Neurodiscovery Center Inc Boston, MA | $3,333,990 | $139,693 |
Pediatric Neurotransmitter Disease Association Inc Farmingdale, NY | $0 | $2,481 |
Sumaira Foundation Somerville, MA | $356,004 | $309,923 |
International Behavioural And Neural Genetics Society Corporatio Wakefield, MA | $171,226 | $0 |
Chiari & Syringomyelia Research Foundation Inc West Seneca, NY | $321,935 | $0 |
Thames Neurological Institute Inc Norwich, CT | $2,632 | $13,042 |
Alliance For The Study Of Cognitive Disorders Inc New York, NY | $147,333 | $0 |