The V Foundation EIN 13-3705951 Form 990 (PDF) Claim this org

The V Foundation

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Funds cancer research through grants to scientists at institutions nationwide. For fiscal year 2025 it reported $61.6M in revenue, $70.6M in expenses, and $60.3M in net assets.Pt I

Founded
1993
Type
Public charity (501(c)(3)) · Medical Research
Location
Cary, NC
Website
v.org
Filings
6 on file (2020–2025)
Revenue
$61.6MFY2025
Expenses
$70.6M
Net assets
$60.3M
People
59
Filings
6
Updates
0
More identity details & actions ⌄
EIN  13-3705951 Public charity (501(c)(3)) Cary, NC Founded 1993
Form 990 (PDF)
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Figures match the IRS filing checked 7/8/26 · see original: IRS
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Size
$10–100M
What they do
Funds cancer research through grants to scientists at institutions nationwide.
Leadership
Shane Jacobson · Chief Executive Officer Thr: 8/25 · $591K
Money in and out
$61.6M revenue, $70.6M expenses
Bottom line
86% program efficiency
Where the money goes · FY2025
Total revenue
$61.6M
Pt VIII · Ln 12
Total expenses
$70.6M
Pt IX · Ln 25
Net assets
$60.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$9.0M
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.07 Fundraising $0.07
Program efficiency
86%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
19.7mo
months of highly liquid reserves at operating expense rate▼ -25% vs prior filing year
Surplus margin
-15%
revenue over expenses, this year▼ -186% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$61.6M
FY2025▼ -1%
Expenses
$70.6M
FY2025▲ +36%
Total assets
$145.9M
FY2025▲ +13%
Total liabilities
$85.5M
FY2025▲ +34%
Total revenue
$61.6M
Pt VIII · Ln 12
Total expenses
$70.6M
Pt IX · Ln 25
Net assets
$60.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$9.0M
Total assetsPt X · Ln 16$145.9M
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 342
Independent voting membersPt I · Ln 441

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe V Foundation
EINHdr · item D13-3705951
Principal addressHdr · item CCary, NC
WebsiteHdr · item Jv.org
Year of formationHdr · item L1993
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H12)
Ruling yearIRS BMFJun 1993

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a42
Independent voting membersPt VI · Ln 1b41
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Chief Executive Officer Thr: 8/25
$590,980Pt VII · Sec A
Chief Development Officer Thr: 12/24
$320,746Pt VII · Sec A
Chief Scientific Officer
$315,918Pt VII · Sec A
Chief Marketing Officer
$309,660Pt VII · Sec A
SR. Vice President, Partnership
$251,021Pt VII · Sec A
Chief Financial Officer
$246,298Pt VII · Sec A
SR. Vice President, Market Development and Events
$222,495Pt VII · Sec A
Vice President, Principal Gifts
$209,752Pt VII · Sec A

Shane Jacobson’s $591K as Chief Executive Officer Thr: 8/25 is at the 69th percentile of top reported officer pay among 127 $10–100M medical research nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Shane Jacobson$590,980$582,729$554,966$421,965
Jefferson Parker$385,200$214,108$199,043
Lauren Hall$320,746
Susanna Greer$315,918$311,716$201,031
Susan Braun$315,266$314,310
Roger Ferguson$309,660$236,707
Jonathan Karron$277,991
Timothy Minor$265,596

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $60.7M of program spending, described in the organization's own filed words · FY2024.
01

In fy 2025, the foundation awarded 37 v scholar grants to identify, retain and further the careers of talented young investigators, 17 grants in translational clinical research, 11 game-changer (designated) grants inspired by particular areas of scientific interest AND/OR geographic reach, 22 all-star grants to reinvest in previous v…

$60.7Mprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$57.1M · 93%
Investment income$4.3M · 7%
Contributions & grants93%$57.1M
Investment income7%$4.3M
Other revenue$283K
Total revenueLn 12$61.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.07 Fundraising $0.07
Program services86%$60.7M
Management & general7%$4.9M
Fundraising7%$4.9M
Total functional expensesLn 25$70.6M

Balance Sheet

Part X · end of year
CashLn 1$36.2M
Total assetsLn 16$145.9M
Total liabilitiesLn 26$85.5M
Total net assetsLn 32$60.3M
Months of cash on handcomputed6.1

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $115.3M · Operating expenses (Pt IX) $70.6M · Less non-cash grants $415K · Cash operating expenses/yr $70.2M
19.7 months
Where the money goes
Program services
Program services $60.7M · Total expenses $70.6M
86%
Management & General
Management & general $4.9M · Total expenses $70.6M
7%
Fundraising
Fundraising $4.9M · Total expenses $70.6M
7%
Cost to raise $1
Fundraising expense (3-yr avg) $4.3M · Solicited contributions (3-yr avg) $52.5M
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $57.1M · Total revenue $61.6M
93%
Government reliance
Government grants — · Total revenue $61.6M
Earned-income share
Program service revenue $0 · Total revenue $61.6M
0%
Investment reliance
Investment income $4.3M · Total revenue $61.6M
+7%
Program self-sufficiency
Program service revenue $0 · Total expenses $70.6M
0%
Growth & trend
Revenue growth (YoY)
This year $61.6M · Prior year $62.4M
-1%
Revenue CAGR
FY2019 $19.5M · FY2024 $61.6M
+26%
Net-asset trend (YoY)
End of year $60.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $61.6M · Expenses $70.6M
-15%
Liabilities-to-Assets
Total liabilities — · Total assets $145.9M
Net-asset ratio
Net assets $60.3M · Total assets $145.9M
41%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $79.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $145.9M
54%
People & payroll
Highest Reported Total Compensation
Individual Shane Jacobson · Reported title CHIEF EXECUTIVE OFFICER THR: 8/25 · Highest reported compensation $591K · Total expenses $70.6M
0.8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $7.3M · Total expenses $70.6M
10%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 7%
Fundraising cost ratio 9%
Revenue growth -1%
Investment management fee ratio 0.2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Stachestrong INCFY2025$897K
Total grants receivedfrom 4 funders$1.1M
See all 4 funders →
Grants paid · 199 grants · $117.6M · 2019–2024
University of ChicagoIL · FY2024$3,200,000
Fred Hutchinson Cancer CenterWA · FY2024$3,100,000
Dana-Farber Cancer InstituteMA · FY2024$2,800,000
UCLA Health Jonsson Comprehensive Cancer CenterCA · FY2024$2,600,000
Duke UniversityNC · FY2024$2,255,000
Yale UniversityCT · FY2024$1,800,000
Mass General Brigham IncorporatedMA · FY2024$1,600,000
Abramson Cancer CenterPA · FY2024$1,600,000
Trustees of Purdue UniversityIN · FY2024$1,400,000
Washington UniversityMO · FY2024$1,200,000
Ucsfhelen Diller Family Comprehensive Cancer CenterCA · FY2024$1,200,000
Harold C Simmons Comprehensive Cancer CenterFY2024$1,200,000
Emory UniversityGA · FY2024$1,000,000
University of Texas Southwestern Medical CenterFY2024$1,000,000
See all 199 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$61.6M revenue · viewing · ⤓ 990 PDF
FY2024$62.4M revenue · ⤓ 990 PDF
FY2023$47.8M revenue · ⤓ 990 PDF
FY2022$38.3M revenue · ⤓ 990 PDF
FY2021$32.2M revenue · ⤓ 990 PDF
FY2020$19.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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