Foundation Fighting Blindness Retinal Degeneration Fund is located in Columbia, MD. The organization was established in 2004. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, under the broad grouping of Medical Research and related organizations. As of 06/2023, Foundation Fighting Blindness Retinal Degeneration Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Fighting Blindness Retinal Degeneration Fund 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 06/2023, Foundation Fighting Blindness Retinal Degeneration Fund generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $1.0m during the year ending 06/2023. 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 FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND'S MISSION IS TO ACCELERATE THE TRANSLATION OF RETINAL LABORATORY-BASED RESEARCH INTO CLINICAL TRIALS TO EXPEDITE THE COMMERCIALIZATION OF PATIENT THERAPIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THREE LARGEST PROGRAM SERVICES ACCOMPLISHMENTS (AS MEASURED BY EXPENSES) FOR THE FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND (FFB-RDF) DURING FISCAL 2023 WERE EQUITY INVESTMENTS IN OPUS GENETICS, PERCEIVE BIO, AND AMBER BIO. OPUS GENETICS AND PERCEIVE BIO ARE BOTH CLINICALLY STAGED GENE THERAPY COMPANIES, AND AMBER BIO IS A PRECLINICAL STAGE COMPANY. EACH OF THESE COMPANIES IS FOCUSED ON ADVANCING PROMISING THERAPIES FOR RETINAL DEGENERATIVE DISEASES.FISCAL 2023 SUMMARY:FFB-RDF INVESTED AN ADDITIONAL $7,000,000 IN OPUS GENETICS TO HELP ADVANCE ITS PIPELINE OF ORPHAN INHERITED RETINAL DISEASE INDICATIONS INCLUDING LCA5, BEST1, RDH12 AND MERTK. THE FIRST PATIENT WAS DOSED IN THE LCA5 PHASE I/II CLINICAL TRIAL IN AUGUST 2023. FFB-RDF INVESTED $2,564,098 IN PERCEIVE BIO TO HELP ADVANCE A CLINICAL-STAGE COMPLEMENT FACTOR H GENE THERAPY PROGRAM FOR THE TREATMENT OF DRY AMD, AND AN EARLY STAGED DUAL LEUCINE KINASE-DEPENDENT INHIBITOR PROGRAM AIMED AT AXONAL NEUROPROTECTION FOR THE TREATMENT OF GLAUCOMA AND RETINAL DISEASES.FFB-RDF INVESTED $1,800,000 IN AMBER BIO TO HELP SUPPORT THE DEVELOPMENT OF AN RNA EDITING PLATFORM THAT WILL BE FIRST APPLIED TO RETINAL DEGENERATIVE DISEASES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mark Blumenkranz MD Mms Director | Trustee | 1 | $0 |
David Brint Ex Officio Director | Trustee | 1 | $0 |
Warren Thaler Director | Trustee | 1 | $0 |
Jose-Alain Sahel MD Director | Trustee | 1 | $0 |
Adrienne Graves PHD Chairman | Trustee | 1 | $0 |
Kelly Lisbakken Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Schaner & Lubitz Llc Legal | 6/29/18 | $116,860 |
Janet K Cheetham Scientific Consultation | 6/29/18 | $125,759 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $14,920,274 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $14,920,274 |
Total Program Service Revenue | $0 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$5,603,437 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $9,316,837 |
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. | $674,390 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $28,027 |
Pension plan accruals and contributions | $33,987 |
Other employee benefits | $65,187 |
Payroll taxes | $43,867 |
Fees for services: Management | $17,342 |
Fees for services: Legal | $48,523 |
Fees for services: Accounting | $7,823 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $3,824 |
Office expenses | $6,804 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $20,396 |
Travel | $27,835 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $26,560 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $2,523 |
Total functional expenses | $1,014,874 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $313,572 |
Savings and temporary cash investments | $0 |
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 | $1,965,012 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $6,199 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $37,780,078 |
Intangible assets | $0 |
Other assets | $7,238,206 |
Total assets | $47,303,067 |
Accounts payable and accrued expenses | $65,457 |
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 | $65,457 |
Net assets without donor restrictions | $47,237,610 |
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 | $0 |
Total liabilities and net assets/fund balances | $47,303,067 |
Over the last fiscal year, Foundation Fighting Blindness Retinal Degeneration Fund has awarded $5,714,272 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
DOHENY EYE INSTITUTE PURPOSE: RESEARCH | $363,032 |
JAEB CENTER HEALTH RESEARCH PURPOSE: RESEARCH | $1,102,640 |
JOHNS HOPKINS UNIVERSITY PURPOSE: RESEARCH | $248,600 |
NACUITY PHARMACUTICALS INC PURPOSE: RESEARCH | $4,000,000 |