Michael Reese Research And Education Foundation
- Assets
- $15.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Chicago, IL
- Founding
- 08/1991
- Data as of
- 08/2023
- EIN
- 36-3761674
Organization Overview
Michael Reese Research And Education Foundation is located in Chicago, IL. The organization was established in 1991. 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 08/2023, Michael Reese Research And Education Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Reese Research And Education 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 08/2023, Michael Reese Research And Education Foundation generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.7m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Michael Reese Research And Education Foundation has awarded 29 individual grants totaling $5,211,133. 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
CONDUCT MEDICAL RESEARCH, EDUCATION AND COMMUNITY SERVICE FOR VARIOUS AREAS OF MEDICINE, INCLUDING, BUT NOT LIMITED TO, ONCOLOGY RESEARCH, CARDIOVASCULAR RESEARCH AND HEALTHCARE DELIVERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIV CARETHE HIV CARE PROGRAM PROVIDES INTEGRATED PRIMARY AND MULTI-SPECIALTY CARE, ADHERENCE EDUCATION, CASE MANAGEMENT, SUBSTANCE ABUSE SERVICES, MENTAL HEALTH CARE AND PREVENTION INTERVENTIONS FOR PEOPLE LIVING WITH HIV DISEASE.
COMMUNITY OUTREACH, COMMUNITY SCHOLARSHIPS AND FUND AN ENDOWMENT FOR CARDIOVASCULAR PHARMACOTHERPY.
WOMEN'S HEALTHTHE WOMEN'S HEALTH PROGRAM PROVIDES FREE SCREENING MAMMOGRAMS AND CERVICAL SCREENINGS AS WELL AS DIAGNOSTIC FOLLOW-UP SERVICES TO UNINSURED WOMEN, REGARDLESS OF INCOME. FOR WOMEN WHO ARE DIAGNOSED WITH BREAST OR CERVICAL CANCER, SURGERY, TREATMENT, MEDICATIONS AND RECONSTRUCTIVE BREAST SURGERY ARE ALSO PROVIDED.
340B DRUG PURCHASING PROGRAM - THE FOUNDATION ENTERED INTO AN AGREEMENT WITH A THIRD PARTY TO FACILITATE THE PARTICIPATION IN THE 340B DRUG PURCHASING PROGRAM WITHOUT THE NEED TO ESTABLISH AND OPERATE ITS OWN PHARMACY. OUTPATIENTS OF THE CLINICS WHO ARE ELIGIBLE CAN PURCHASE OR RECEIVE COVERED 340B DRUGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Clarkphd Executive Director | OfficerTrustee | 40 | $130,118 |
Arthur Moswin MD Director | Trustee | 10 | $61,820 |
Sandra Wilks RN Director | Trustee | 8 | $23,830 |
William Chamberlin MD Director, Chairman | OfficerTrustee | 1 | $0 |
Dennis Levinson MD Director, Treasurer | OfficerTrustee | 1 | $0 |
Alan Schwartzphd Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hektoen Fiscal Management | 8/30/23 | $110,141 |
William Blair Investment Services | 8/30/23 | $108,102 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,348,058 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,827 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,384,885 |
| Total Program Service Revenue | $0 |
| Investment income | $73,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$692,020 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,709,354 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,475,281 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $350,193 |
| 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. | $219,766 |
| Compensation of current officers, directors, key employees. | $219,766 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $307,673 |
| Pension plan accruals and contributions | $9,202 |
| Other employee benefits | $48,351 |
| Payroll taxes | $38,285 |
| Fees for services: Management | $110,141 |
| 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 | $108,102 |
| Fees for services: Other | $1,148,557 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,062 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,555 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $29,808 |
| All other expenses | $4,346 |
| Total functional expenses | $2,717,002 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,660 |
| Savings and temporary cash investments | $810,490 |
| Pledges and grants receivable | $1,428,030 |
| 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 | $117,867 |
| Prepaid expenses and deferred charges | $5,453 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,625,103 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,191,603 |
| Accounts payable and accrued expenses | $1,351,780 |
| Grants payable | $1,085,033 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,856 |
| 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 | $2,440,669 |
| Net assets without donor restrictions | $12,368,401 |
| Net assets with donor restrictions | $382,533 |
| 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 | $15,191,603 |
Grants Awarded
Over the last fiscal year, Michael Reese Research And Education Foundation has awarded $350,193 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
INSTITUTE OF MEDICINE CHICAGO PURPOSE: IOMC DR M DRAKES RESEARCH-PREDICTING OVARIAN CANCER | $5,000 |
RESTORE JUSTICE FOUNDATION - IL PRISON PROJECT PURPOSE: PROGRAM SUPPORT | $150,000 |
MEDICAL ORGANIZATION FOR LATINO ADVANCEMENT - MOLA PURPOSE: SCHOLARSHIPS FOR YOUNG LATINO MEN AND WOMEN IN THE HEALTHCARE ARENA | $15,000 |
BLUE CAP FOUNDATION PURPOSE: BLUE CAP AWARD | $12,000 |
CHICAGO ARCHITECTURE CENTER PURPOSE: SINGER P DONATION | $5,000 |
INDIAN AMERICAN MEDICAL ASSOCIATION PURPOSE: IAMA FY 23 AWARD | $50,000 |