Sarnoff Cardiovascular Research Foundation Inc
- Assets
- $46.8m
- Revenue
- $2.0m
- Investments
- $996.2k
- Employees
- 2
- Location
- Mclean, VA
- Founding
- 06/1982
- Data as of
- 06/2023
- EIN
- 52-1254078
Organization Overview
Sarnoff Cardiovascular Research Foundation Inc is located in Mclean, VA. The organization was established in 1982. According to its NTEE Classification (G11) the organization is classified as: Single Organization Support, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2023, Sarnoff Cardiovascular Research Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarnoff Cardiovascular Research Foundation Inc 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, Sarnoff Cardiovascular Research Foundation Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE PURSUIT OF CAREERS IN CARDIOVASCULAR SCIENCE.
Describe the Organization's Program Activity:
FELLOWSHIPS AND SCHOLARSHIPS - GRANTS MADE TO STUDENTS AND EARLY CAREER PHYSICIAN-SCIENTISTS WHO ARE PURSUING A RESEARCH CAREER IN THE CARDIOVASCULAR SCIENCES.
ALUMNI - THE FOUNDATION PROVIDES NETWORKING OPPORTUNITIES AND CONTINUED TRAINING TO ITS ALUMNI THROUGH NEWSLETTERS, REGIONAL MEETINGS, AND EDUCATIONAL WEBINARS. PERIODICALLY, THE FOUNDATION HOLDS LEADERSHIP CONFERENCES FOR THE BENEFIT OF ITS ALUMNI.
SARNOFF CARDIOVASCULAR RESEARCH FOUNDATION ANNUAL SCIENTIFIC MEETING - THE FOUNDATION USUALLY INVITES ITS CURRENT AND FORMER FELLOWS AND SCHOLARS, EACH SPRING, TO ENGAGE IN THE FOUNDATION'S ANNUAL SCIENTIFIC MEETING. THE MEETING GIVES A FORUM FOR THE FELLOWS AND SCHOLARS TO PRESENT THEIR SARNOFF RESEARCH TO THE FOUNDATION'S VOLUNTEERS AND THE PRECEPTORS, SPONSORS, FORMER FELLOWS AND SCHOLARS, AND PROMINENT SCIENTISTS WHO SERVE ON THE FOUNDATION'S COMMITTEES. THE MEETING ALSO PROVIDES MENTORING SESSIONS AND COLLABORATIONS WITH FORMER FELLOWS AND COLLEAGUES. FELLOWS AND SCHOLARS ARE ALSO GIVEN GUIDANCE ON THEIR CAREER AND RESEARCH DIRECTIONS. FORMER FELLOWS AND OTHER SCIENTISTS ALSO PRESENT THEIR RESEARCH TO THE PARTICIPANTS.
BOARD OF DIRECTORS - THE BOARD OF DIRECTORS (BOARD) IS THE GOVERNING BODY OF THE FOUNDATION. THE BOARD'S MEMBERSHIP IS CONTROLLED BY THE PUBLICLY SUPPORTED ORGANIZATIONS THROUGH THE NOMINATIONS PROCESS. THE BOARD TYPICALLY CONVENES AT LEAST TWICE ANNUALLY IN PERSON AND ALSO CONDUCTS FREQUENT VIRTUAL MEETINGS IN ORDER TO CONDUCT THE BUSINESS OF THE FOUNDATION. THE BOARD HAS SEVERAL STANDING AND OTHER COMMITTEES THAT ASSIST IN THE WORK AND GOVERNANCE OF THE FOUNDATION. IT ALSO SETS THE STRATEGIC DIRECTION OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Michel President & Chair | OfficerTrustee | 1 | $0 |
Joseph Hill Immediate Past Chair | OfficerTrustee | 1 | $0 |
Ronglih Liao Vice Chair | OfficerTrustee | 1 | $0 |
Javid Moslehi Secretary | OfficerTrustee | 1 | $0 |
Charles Lowenstein Treasurer | OfficerTrustee | 2 | $0 |
Sharlene Day Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,005 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,005 |
| Total Program Service Revenue | $0 |
| Investment income | $1,094,054 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $837,068 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,025,286 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $927,693 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $173,666 |
| Compensation of current officers, directors, key employees. | $17,367 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,653 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,197 |
| Payroll taxes | $14,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,399 |
| Fees for services: Accounting | $105,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,744 |
| Fees for services: Other | $17,146 |
| Advertising and promotion | $1,346 |
| Office expenses | $12,252 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $62,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $99,961 |
| Interest | $60 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $258 |
| Insurance | $9,387 |
| All other expenses | $0 |
| Total functional expenses | $1,550,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,120 |
| Savings and temporary cash investments | $223,624 |
| Pledges and grants receivable | $65,395 |
| 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 | $11,651 |
| Net Land, buildings, and equipment | $322 |
| Investments—publicly traded securities | $45,289,488 |
| Investments—other securities | $996,226 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,760,826 |
| Accounts payable and accrued expenses | $126,816 |
| Grants payable | $714,084 |
| 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 | $840,900 |
| Net assets without donor restrictions | $45,375,617 |
| Net assets with donor restrictions | $544,309 |
| 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 | $46,760,826 |