Acmg Foundation For Genetic And Genomic Medicine
- Assets
- $3.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 58
- Location
- Bethesda, MD
- Founding
- 09/1993
- Data as of
- 12/2022
- EIN
- 52-1841165
Organization Overview
Acmg Foundation For Genetic And Genomic Medicine is located in Bethesda, MD. The organization was established in 1993. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2022, Acmg Foundation For Genetic And Genomic Medicine employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Acmg Foundation For Genetic And Genomic Medicine 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, Acmg Foundation For Genetic And Genomic Medicine generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $758.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Acmg Foundation For Genetic And Genomic Medicine has awarded 47 individual grants totaling $3,846,628. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER GENETICS SCHOLARS PROGRAM: IN 2022 THERE WERE 18 SUMMER SCHOLARS ENROLLED IN THE SUMMER GENETICS SCHOLARS PROGRAM. ACMG FOUNDATION TREATMENT GUIDELINES DEVELOPMENT FUND: THE ACCELERATION OF SCIENTIFIC DISCOVERY OVER THESE LAST FEW YEARS HAS PUT INCREASING DEMANDS ON THE ACMG TO INTENSIFY ITS WORK IN THE DEVELOPMENT OF PRACTICE GUIDELINES, PARTICULARLY TO BE ABLE TO RESPOND QUICKLY AS NEW THERAPEUTICS FOR GENETIC DISEASES EMERGE.THE ACMG FOUNDATION, ON BEHALF OF ACMG, HAS ESTABLISHED A FUND TO DEVELOP AND DISSEMINATE BEST-PRACTICE GUIDELINES THAT RESPOND TO AND INCORPORATE FREQUENT, NEW SCIENTIFIC DISCOVERIES IN THE DIAGNOSIS, MANAGEMENT, AND TREATMENT OF GENETIC CONDITIONS, FROM DETECTION THROUGH NEWBORN SCREENING TO COMMON PROBLEMS OF ADULTHOOD.DAY OF CARING: THE DAY OF CARING IS AN EVENT WHERE FUNDS ARE RAISED TO PROVIDE BICYCLES AND HELMETS TO CHILDREN WITH GENETIC DISEASES. LOCAL GENETICS ORGANIZATIONS ARE TAPPED TO FIND RECIPIENTS AND AN EVENT IS HELD DURING THE ACMG ANNUAL MEETING TO PRESENT THESE BICYCLES.THE PURPOSE OF THE PFIZER/ACMG FOUNDATION'S "TRANSLATIONAL GENOMICS SCHOLARS" AWARD PROGRAM IS TO ADVANCE EDUCATION, RESEARCH AND STANDARDS OF PRACTICE IN MEDICAL GENETICS, AND TO DEVELOP AND EXPAND CLINICAL AND LABORATORY EXPERTISE IN MEDICAL GENETICS IN THE UNITED STATES. IT ALSO SEEKS TO INITIATE AND DEVELOP A BROAD-BASED INFRASTRUCTURE FOR INDUSTRY FUNDING OF HIGH QUALITY PROJECTS IN THE FIELDS OF MEDICAL GENETICS.OTHER AWARDS AND FELLOWSHIPS:- SANOFI CORPORATION FELLOWSHIP- TAKEDA CORPORATION FELLOWSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce R Korf President | OfficerTrustee | 3 | $0 |
David A Whiteman Vice President | OfficerTrustee | 2 | $0 |
Madhuri Hedge Secretary/treasurer | OfficerTrustee | 1 | $0 |
Robert G Best Director | Trustee | 1 | $0 |
Sarah Elsea Director | Trustee | 1 | $0 |
Nasha Fitter Director | 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 | $1,315,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,315,309 |
| Total Program Service Revenue | $0 |
| Investment income | $59,808 |
| 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 | $1,409,009 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $248,222 |
| Grants and other assistance to domestic individuals. | $54,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,362 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,090 |
| Pension plan accruals and contributions | $8,170 |
| Other employee benefits | $17,497 |
| Payroll taxes | $9,240 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6 |
| Fees for services: Accounting | $24,293 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $94,594 |
| Fees for services: Investment Management | $18,663 |
| Fees for services: Other | $38,031 |
| Advertising and promotion | $4,399 |
| Office expenses | $37,629 |
| Information technology | $15,947 |
| Royalties | $0 |
| Occupancy | $16,289 |
| Travel | $30,906 |
| 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 | $10,353 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $758,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $489,461 |
| Pledges and grants receivable | $197,746 |
| 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 | $120 |
| Net Land, buildings, and equipment | $24,197 |
| Investments—publicly traded securities | $2,238,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $420,417 |
| Total assets | $3,370,243 |
| Accounts payable and accrued expenses | $477,167 |
| 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 | $477,167 |
| Net assets without donor restrictions | $518,739 |
| Net assets with donor restrictions | $2,374,337 |
| 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 | $3,370,243 |
Grants Awarded
Over the last fiscal year, Acmg Foundation For Genetic And Genomic Medicine has awarded $230,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
STANFORD UNIVERSITY PURPOSE: 2021-2022 PFIZER FELLOWSHIP | $42,500 |
REGENTS OF UNIV OF CALIFORNIA PURPOSE: 2022-2023 SPARK FELLOWSHIP | $37,500 |
CHILDREN'S HOSPITAL OF PHILADELPHIA PURPOSE: 2022-2023 TAKEDA FELLOWSHIP | $37,500 |
CHILDREN'S HOSPITAL CORPORATION PURPOSE: 2022-2023 SANOFI FELLOWSHIP; 2021-2022 PFIZER FELLOWSHIP | $80,000 |
GRENWOOD GENETIC CENTER FOUNDATION PURPOSE: 2022-2023 BIONANO FELLOWSHIP | $32,500 |