Abraham J And Phyllis Katz Cord Blood Foundation
- Assets
- $8.0m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 44
- Location
- Cleveland, OH
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 20-8376689
Organization Overview
Abraham J And Phyllis Katz Cord Blood Foundation, operating under the name Cleveland Cord Blood Center, is located in Cleveland, OH. The organization was established in 2007. According to its NTEE Classification (H30) the organization is classified as: Cancer Research, under the broad grouping of Medical Research and related organizations. As of 12/2023, Cleveland Cord Blood Center employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Cord Blood Center 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, Cleveland Cord Blood Center generated $11.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $6.9m during the year ending 12/2023. While expenses have increased by 2.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S VISION STATEMENT: A WORLD IN WHICH CORD BLOOD THERAPIES ENHANCE QUALITY OF LIFE FOR ALL.THE ORGANIZATION'S CORE VALUES ARE QUALITY, COLLABORATION, INNOVATION, LEADERSHIP, COMPASSION, AND INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS BEEN ESTABLISHED TO HARVEST, PROCESS, AND UTILIZE UMBILICAL CORD BLOOD ("UCB") STEM CELLS FOR CLINICAL TRANSPLANTATION, MEDICAL RESEARCH, AND DISTRIBUTION, AND TO PROVIDE EDUCATION TO PHYSICIANS AND THE PUBLIC AT LARGE ON ADVANCES IN THE UTILIZATION OF UCB-DERIVED STEM CELLS FOR THE TREATMENT OF CANCER AND OTHER DISEASES.
BEGINNING IN 2014, THE FOUNDATION PERFORMS LABORATORY RESEARCH IN CELLULAR THERAPEUTICS WITH TWO STUDIES CURRENTLY IN PROGRESS.
IN 2020, THE CORD BLOOD CENTER ESTABLISHED A CELL THERAPY INCUBATOR TO OFFER NEW TECHNOLOGIES FOR CELL PROCESSING AND DISTRIBUTE CORD BLOOD BASED PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Goodman Chairman, Director | OfficerTrustee | 2 | $0 |
David Woolf Secretary, Director | OfficerTrustee | 1 | $0 |
Barbara Drobney Treasurer, Director | OfficerTrustee | 2 | $0 |
Pamela Plott Director | Trustee | 1 | $0 |
Nancy Cook Director | Trustee | 1 | $0 |
Dawn Williams Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eversheds Sutherland Legal Fees | 12/30/21 | $125,020 |
Jes Development Ltd 25e Rent & Other Services | 12/30/21 | $203,192 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $458,664 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,435,958 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,894,622 |
| Total Program Service Revenue | $4,047,931 |
| Investment income | $44,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,019,642 |
| 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. | $484,386 |
| Compensation of current officers, directors, key employees. | $28,816 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,964,783 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $319,442 |
| Payroll taxes | $190,519 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,172 |
| Office expenses | $0 |
| Information technology | $71,969 |
| Royalties | $0 |
| Occupancy | $259,433 |
| 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 | $161,599 |
| Insurance | $55,666 |
| All other expenses | $334,994 |
| Total functional expenses | $6,939,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,325 |
| Savings and temporary cash investments | $4,540 |
| Pledges and grants receivable | $4,673,866 |
| Accounts receivable, net | $547,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $61,496 |
| Prepaid expenses and deferred charges | $144,384 |
| Net Land, buildings, and equipment | $687,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $518,827 |
| Other assets | $826,829 |
| Total assets | $7,998,477 |
| Accounts payable and accrued expenses | $742,539 |
| 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 | $1,084,316 |
| Total liabilities | $1,826,855 |
| Net assets without donor restrictions | $1,637,755 |
| Net assets with donor restrictions | $4,533,867 |
| 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 | $7,998,477 |