Cardiovascular Research Foundation
- Assets
- $76.1m
- Revenue
- $61.3m
- Investments
- $32.6k
- Employees
- 217
- Location
- New York, NY
- Founding
- 07/1992
- Data as of
- 12/2022
- EIN
- 52-1752653
Organization Overview
Cardiovascular Research Foundation is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (H20) the organization is classified as: Birth Defects & Genetic Diseases Research, under the broad grouping of Medical Research and related organizations. As of 12/2022, Cardiovascular Research Foundation employed 217 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cardiovascular Research 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 12/2022, Cardiovascular Research Foundation generated $61.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $57.3m during the year ending 12/2022. While expenses have increased by 1.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CARDIOVASCULAR RESEARCH FOUNDATION IS AN INDEPENDENT, ACADEMICALLY FOCUSED ORGANIZATION DEDICATED TO IMPROVING THE SURVIVAL AND QUALITY OF LIFE FOR PEOPLE WITH CARDIOVASCULAR DISEASE THROUGH RESEARCH AND EDUCATION. THE ORGANIZATION HAS PLAYED A MAJOR ROLE IN REALIZING DRAMATIC IMPROVEMENTS IN THE LIVES OF COUNTLESS NUMBERS OF PATIENTS BY ESTABLISHING THE SAFE USE OF NEW TECHNOLOGIES AND THERAPIES IN THE SUBSPECIALTY OF INTERVENTIONAL CARDIOLOGY AND ENDOVASCULAR MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLINICAL TRIALS CENTER - A DISTINGUISHED ACADEMIC RESEARCH ORGANIZATION, THE CRF CLINICAL TRIALS CENTER (CTC) PLANS AND EXECUTES CLINICAL INVESTIGATIONS FROM FIRST-IN-MAN STUDIES TO LARGE, MULTICENTER INTERNATIONAL TRIALS DESIGNED TO GAIN INSIGHTS THAT WILL ELEVATE THE QUALITY OF CARE IN CARDIOVASCULAR MEDICINE. THE CTC SPECIALIZES IN TRIAL DESIGN, EVENT ADJUDICATION, DATA AND SAFETY MONITORING, AND BIO STATISTICAL SERVICES. CRF FACULTY AUTHOR OVER 300 ARTICLES ANNUALLY IN PRESTIGIOUS MEDICAL AND SCIENTIFIC JOURNALS, BRINGING THE LATEST RESEARCH TO THE GLOBAL MEDICAL COMMUNITY.
OTHER - INCLUDES WEB SERVICES, OTHER SMALL MEETINGS, AND SUPPORT FUNCTIONS TO EACH OF THE DIVISIONS ABOVE.
SKIRBALL CENTER FOR INNOVATION - A STATE OF THE ART INNOVATION CENTER, THE CRF SKIRBALL CENTER FOR INNOVATION IS DEDICATED TO THE INVESTIGATION AND VALIDATION OF NOVEL CONCEPTS, TREATMENTS, AND DEVICES. OUR PREEMINENT TEAM OF PIONEERING RESEARCHERS AND THOUGHT LEADERS CONTINUALLY BREAK NEW GROUND AS THEY GUIDE EARLY IDEAS AND INVENTIONS THROUGH COMPREHENSIVE PRECLINICAL RESEARCH PROGRAMS TO INTRODUCE PRACTICAL THERAPIES INTO CLINICAL MEDICINE.
TCT 2022 (TRANSCATHETER CARDIOVASCULAR THERAPEUTICS) MEETING - THE CARDIOVASCULAR RESEARCH FOUNDATION (CRF) STANDS AT THE FOREFRONT OF EDUCATION IN CARDIOVASCULAR MEDICINE. THIS FOCUS REFLECTS THE CRF FACULTY'S COMMITMENT TO SHARING AND DISSEMINATING THE LATEST CLINICAL RESEARCH INFORMATION TO THE BROADEST AUDIENCE AT THE EARLIEST POSSIBLE DATE. THE FUNDAMENTAL GOAL OF CRF'S EDUCATION PROGRAM IS TO ENABLE THE GLOBAL PHYSICIAN COMMUNITY TO APPLY IMPORTANT NEW KNOWLEDGE TO ACTUAL PATIENT CARE. CRF'S PRINCIPAL ANNUAL EDUCATIONAL EVENT, TRANSCATHETER CARDIOVASCULAR THERAPEUTICS (TCT) MEETING, IS THE WORLD'S LARGEST EDUCATIONAL MEETING DEDICATED TO THE FIELD OF INTERVENTIONAL VASCULAR THERAPY. THIS IS THE SHOWCASE EDUCATIONAL EVENT IN THE CARDIOVASCULAR FIELD AND IS USED TO EDUCATE AND EXCHANGE STUDY FINDINGS AND TO IMPROVE TREATMENT OF PATIENTS WHO HAVE CARDIOVASCULAR DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colette Y Gardner Director | Trustee | 2 | $0 |
Eric A Rose MD Director | Trustee | 2 | $0 |
Eric B Woldenberg ESQ Chairman | OfficerTrustee | 2 | $0 |
Frank Litvack MD Director | Trustee | 2 | $0 |
Jeffrey W Moses MD Director | Trustee | 2 | $0 |
Joseph G Beck Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jai Dii Ventures Llc Management Consulting | 12/30/22 | $320,640 |
Gary S Mintz Md Llc Management Consulting | 12/30/22 | $310,000 |
Lissom Corp Management Consulting | 12/30/22 | $202,721 |
Fixed Gear Designs Management Consulting | 12/30/22 | $162,693 |
Redfors Cardiovascular Ab Management Consulting | 12/30/22 | $133,333 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $543,825 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,323,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,867,579 |
| Total Program Service Revenue | $52,856,326 |
| Investment income | $393,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $262,591 |
| Net Income from Fundraising Events | -$80,839 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,324,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $800,000 |
| 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. | $1,920,535 |
| Compensation of current officers, directors, key employees. | $388,780 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,286,856 |
| Pension plan accruals and contributions | $405,266 |
| Other employee benefits | $1,753,897 |
| Payroll taxes | $1,358,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $310,434 |
| Fees for services: Accounting | $175,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $110,090 |
| Fees for services: Other | $8,285,133 |
| Advertising and promotion | $398,646 |
| Office expenses | $862,353 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,368,696 |
| Travel | $1,268,147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,989,291 |
| Interest | $637,985 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,104,564 |
| Insurance | $624,157 |
| All other expenses | $318,210 |
| Total functional expenses | $57,291,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,782,923 |
| Savings and temporary cash investments | $4,839,639 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,516,160 |
| 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 | $1,983,681 |
| Net Land, buildings, and equipment | $8,669,390 |
| Investments—publicly traded securities | $11,906,901 |
| Investments—other securities | $32,616 |
| Investments—program-related | $0 |
| Intangible assets | $17,429,505 |
| Other assets | $4,932,519 |
| Total assets | $76,093,334 |
| Accounts payable and accrued expenses | $9,713,592 |
| Grants payable | $0 |
| Deferred revenue | $1,729,113 |
| Tax-exempt bond liabilities | $11,375,000 |
| 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 | $20,580,168 |
| Total liabilities | $43,397,873 |
| Net assets without donor restrictions | $32,695,461 |
| 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 | $76,093,334 |