Malmonides Research And Development Foundation
- Assets
- $20.7m
- Revenue
- $1.6m
- Investments
- $3.5m
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 01/1983
- Data as of
- 12/2021
- EIN
- 11-2608229
Organization Overview
Malmonides Research And Development Foundation is located in Brooklyn, NY. The organization was established in 1983. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., 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. Malmonides Research And Development 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 12/2021, Malmonides Research And Development Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $570.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAIMONIDES RESEARCH AND DEVELOPMENT FOUNDATION AWARDS GRANTS FOR RESEARCH AND DEVELOPMENT ACTIVITIES PRIMARILY TO PHYSICIANS ASSOCIATED WITH MAIMONIDES MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES FOR GRANTS REPRESENT FUNDS AWARDED BY THE FOUNDATION'S BOARD OF DIRECTORS FOR MEDICAL RESEARCH AND DEVELOPMENT PROJECTS. INCLUDED IN EXPENSES ARE $202,538 RESEARCH RELATED ADMINISTRATIVE FEES. REVENUE IS GENERATED FROM RENTAL INCOME PRODUCED BY PROVIDING FACILITIES TO MAIMONIDES MEDICAL CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Borgen MD President/medical Dir | OfficerTrustee | 0.5 | $0 |
Kenneth Gibbs Director | Trustee | 0.5 | $0 |
John Marshall MD Director | Trustee | 0.5 | $0 |
David Cohen MD Director | Trustee | 0.5 | $0 |
Laurie Weinstein Secretary | Officer | 0.5 | $0 |
Anthony Kalloo MD Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Investment income | $539,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $799,394 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,623,416 |
| Statement of Expenses | |
|---|---|
| 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 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 | $115,011 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,813 |
| Fees for services: Other | $38,188 |
| Advertising and promotion | $0 |
| Office expenses | $1,224 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $157 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $570,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,018,897 |
| Savings and temporary cash investments | $390,424 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $15,313,833 |
| Investments—other securities | $3,519,475 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,668,159 |
| Accounts payable and accrued expenses | $48,000 |
| Grants payable | $365,997 |
| 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 | $38,582 |
| Total liabilities | $452,579 |
| Net assets without donor restrictions | $20,215,580 |
| 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 |
| Total liabilities and net assets/fund balances | $20,215,580 |