Myocarditis Foundation
- Assets
- $2.6m
- Revenue
- $560.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Kingwood, TX
- Founding
- 11/2005
- Data as of
- 12/2023
- EIN
- 20-2657059
Organization Overview
Myocarditis Foundation is located in Kingwood, TX. The organization was established in 2005. 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. As of 12/2023, Myocarditis Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Myocarditis 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 12/2023, Myocarditis Foundation generated $560.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $406.9k during the year ending 12/2023. While expenses have increased by 5.5% per year over the past 9 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 2018, Myocarditis Foundation has awarded 14 individual grants totaling $447,187. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MYOCARDITIS FOUNDATION IS DEDICATED TO PROVIDING ACCURATE AND UP-TO-DATE INFORMATION TO MEDICAL PROFESSIONALS, PATIENTS AND THEIR FAMILIES, AND TO THE SCIENTIFIC ADVANCEMENT OF BOTH THE DIAGNOSIS AND TREATMENT OF THE DISEASE WITH THE GOAL OF SAVING MORE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION EMPLOYS AN EXECUTIVE DIRECTOR WHO ENSURES THAT THE PROGRAMS AND SERVICES OFFERED BY THE ORGANIZATION CONTRIBUTE TO THE ORGANIZATION'S MISSION AND REFLECT THE PRIORITIES OF THE BOARD. SHE DIRECTS AND IMPLEMENTS THE DELIVERY OF THE PROGRAMS AND SERVICES, DEVELOPS FUNDING SOURCES TO MAINTAIN THE MISSION, PROMOTES THE FOUNDATION TO OUTSIDE ORGANIZATIONS, ORGANIZES THE ANNUAL FAMILY AND RESEARCHERS MEETINGS, DEVELOPS THE BIANNUAL NEWSLETTER, WRITES A WEEKLY WEB AND FACEBOOK BLOG, PARTICIPATES AT HEALTH FAIR BOOTHS AND NATIONAL AND INTERNATIONAL MEDICAL CONFERENCES, ATTENDS COMMUNITY ACTIVITIES, HANDLES ALL DIRECT COMMUNICATIONS WITH AFFECTED PATIENTS AND FAMILIES, AND IS THE SPOKESPERSON FOR THE FOUNDATION.
OTHER PROGRAM SERVICES INCLUDE CONFERENCES, CONVENTIONS AND MEETINGS, PRINTING OF NEWSLETTERS AND PUBLICATIONS, TRAVEL, POSTAGE, AND OTHER EXPENSES.
THE FOUNDATION WORKS TO RAISE AWARENESS AND PROMOTE EDUCATION OF MYOCARDITIS BY SPONSORING CONFERENCES AND LECTURES DIRECTED TO BOTH THE PUBLIC AND TO PHYSICIAN GROUPS THAT DEAL WITH MYOCARDITIS, ITS CAUSES, SYMPTOMS, DIAGNOSIS AND TREATMENT. IT ALSO DEVELOPS EDUCATIONAL MATERIALS, PAMPHLETS, AND PUBLICATIONS FOR USE BY THE PUBLIC, FAMILIES AND PHYSICIANS.
THE MYOCARDITIS FOUNDATION IS LED BY WORLD-RENOWN PHYSICIANS, RESEARCHERS AND PATIENTS WHO VOLUNTEER THEIR TIME. IT FUNDS RESEARCH FELLOWSHIP PROJECTS AND PARTNERS WITH RESEARCHERS IN ORDER TO IMPROVE DIAGNOSIS AND FIND NEW THERAPIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Rumore Chairman Of The Board | OfficerTrustee | 40 | $0 |
Candace Moose Director | OfficerTrustee | 2 | $0 |
Louis Romano Treasurer | OfficerTrustee | 6 | $0 |
Francine Andrea Vice President | OfficerTrustee | 3 | $0 |
Giustina Schiano Director | Trustee | 3 | $0 |
Dr Jack Price Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $84,465 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,503 |
| Noncash contributions included in lines 1a–1f | $34 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,968 |
| Total Program Service Revenue | $308 |
| Investment income | $84,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $48,038 |
| Net Income from Fundraising Events | $166,705 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $560,214 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,000 |
| 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 | $171,277 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,775 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,300 |
| Fees for services: Accounting | $12,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,043 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,925 |
| Office expenses | $10,704 |
| Information technology | $14,721 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,741 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,389 |
| Insurance | $1,803 |
| All other expenses | $220 |
| Total functional expenses | $406,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $242,865 |
| 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 | $4,618 |
| Net Land, buildings, and equipment | $11,159 |
| Investments—publicly traded securities | $2,225,537 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,867 |
| Total assets | $2,553,046 |
| Accounts payable and accrued expenses | $7,896 |
| 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 | $150,000 |
| Other liabilities | $47,984 |
| Total liabilities | $205,880 |
| Net assets without donor restrictions | $2,145,546 |
| Net assets with donor restrictions | $201,620 |
| 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 | $2,553,046 |
Grants Awarded
Over the last fiscal year, Myocarditis Foundation has awarded $59,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NPHASE INC PURPOSE: RESEARCH | $9,000 |
UNIVERSITY OF OKLAHOMA PURPOSE: RESEARCH | $50,000 |