Commonwealth Foundation For Cancer Research Foundation
- Assets
- $34.8m
- Revenue
- $50.4m
- Investments
- $12.4m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 06/2002
- Data as of
- 12/2022
- EIN
- 04-3632101
Organization Overview
Commonwealth Foundation For Cancer Research Foundation is located in Richmond, VA. The organization was established in 2002. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Foundation For Cancer Research 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 12/2022, Commonwealth Foundation For Cancer Research Foundation generated $50.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $47.6m during the year ending 12/2022. While expenses have increased by 17.5% 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 2014, Commonwealth Foundation For Cancer Research Foundation has awarded 57 individual grants totaling $208,087,432. 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 PROVIDE FUNDING FOR CANCER RESEARCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE ORGANIZATION PROVIDES SUPPORT FOR IMPROVING CARE AND ADVANCING DISCOVERIES AND NEW TECHNOLOGIES RELATING TO CANCER THROUGH CLINICAL STUDIES AND TRIALS.
THE CORPORATION IS ORGANIZED AS A SUPPORTING ORGANIZATION FOR THE CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES OF THE COMMUNITY FOUNDATION, INC., AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Goodwin Jr Director, President | OfficerTrustee | 0.5 | $0 |
Alice T Goodwin Director | Trustee | 0.5 | $0 |
Wayne L Hunter Director, Treasurer | OfficerTrustee | 0.5 | $8,500 |
John Sherman Jr Director, Secretary | OfficerTrustee | 0.5 | $23,500 |
James A Jones Tax Officer | Officer | 0.5 | $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 | $47,717,706 |
| Noncash contributions included in lines 1a–1f | $6,017,706 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,717,706 |
| Total Program Service Revenue | $0 |
| Investment income | $867,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,278 |
| Net Gain/Loss on Asset Sales | $1,771,787 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,354,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,524,169 |
| 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. | $32,000 |
| Compensation of current officers, directors, key employees. | $32,000 |
| 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 | $8,200 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $613 |
| 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 | $0 |
| All other expenses | $255 |
| Total functional expenses | $47,600,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $271,903 |
| 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 | $4,909,280 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,505,487 |
| Investments—publicly traded securities | $6,750,265 |
| Investments—other securities | $12,397,725 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $34,835,660 |
| Accounts payable and accrued expenses | $91,031 |
| 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 | $91,031 |
| Net assets without donor restrictions | $0 |
| 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 | $34,744,629 |
| Total liabilities and net assets/fund balances | $34,835,660 |
Grants Awarded
Over the last fiscal year, Commonwealth Foundation For Cancer Research Foundation has awarded $47,521,074 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
COMMONWEALTH CANCER CONSORTIUM INC PURPOSE: SUPPORT FOR MULTI-INSTITUTIONAL RESEARCH IN CANCER INDICATIONS | $25,596,074 |
DANA-FARBER CANCER INSTITUTE INC PURPOSE: SUPPORT FOR CLINCIAL STUDIES AND TO ADVANCE DISCOVERIES AND NEW TECHNOLOGIES IN CANCER RESEARCH | $2,500,000 |
MD ANDERSON CANCER CENTER PURPOSE: SUPPORT PROGRESS IN IMPROVING CARE FOR OUR PATIENTS WITH CANCER | $1,875,000 |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY-KOCH INSTITUTE FOR CANCER RESEARCH PURPOSE: SUPPORT FOR CLINCIAL STUDIES AND TO ADVANCE DISCOVERIES AND NEW TECHNOLOGIES IN CANCER RESEARCH | $2,500,000 |
MEMORIAL SLOAN-KETTERING CANCER CENTER PURPOSE: SUPPORT PROGRESS IN DRUG DISCOVERY AND DEVELOPMENTAL RESEARCH AGAINST CANCER | $7,000,000 |
SIDNEY KIMMEL COMPREHENSIVE CANCER CENTER PURPOSE: SUPPORT FOR RESEARCHERS AND CLINCIANS TO ADVANCE THE STATE OF CANCER SCIENCE | $8,000,000 |