The V Foundation FY2021 filing

Tax-deductible

Cary, NC501(c)(3)Since 1993Medical ResearchEIN 13-3705951

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To put an end to cancer.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $1.7M a year · 4% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $1.1M
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$27.0M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
41
of 41 voting members
Looks good: 41 of 41 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$32.2M
+65% vs prior year
Spent
$26.6M
To programs
83%
Net assets
$50.9M
By yearFY2020–FY2025
Revenue
$32.2M
FY2021▲ +65%
Revenue by fiscal year
FY2020$19.5M
FY2021$32.2M
FY2022$38.3M
FY2023$47.8M
FY2024$62.4M
FY2025$61.6M
Expenses
$26.6M
FY2021▲ +41%
Expenses by fiscal year
FY2020$18.9M
FY2021$26.6M
FY2022$33.1M
FY2023$50.4M
FY2024$51.9M
FY2025$70.6M
Net assets
$50.9M
FY2021▲ +22%
Net assets by fiscal year
FY2020$41.8M
FY2021$50.9M
FY2022$49.9M
FY2023$50.9M
FY2024$65.6M
FY2025$60.3M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $22.1M Management & general 9% · $2.4M Fundraising 8% · $2.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

51 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
CEO Thru 1/2021
$315,266Pt VII · Sec A
Crmo Thru 7/2021
$261,446Pt VII · Sec A
COO Thru 9/2021
$214,108Pt VII · Sec A
Major Gifts Officer
$157,879Pt VII · Sec A
VP of Business Alliances
$147,587Pt VII · Sec A
Major Gifts Officer
$146,390Pt VII · Sec A
SR VP Research & Grants Administration
$126,232Pt VII · Sec A
VP of Finance Thru 9/2021, CFO from 9/2021
$125,903Pt 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.

See The V Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Funds cancer research through grants to scientists at institutions nationwide.

Provided by the organization

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1 program service account for $22.1M of program spending, described in the organization's own filed words · FY2020.
01

In fy 2021, the foundation awarded 33 v scholar grants to identify,retain and further the careers of talented young investigators, 20GRANTS in translational clinical research, and 20 designated grantsinspired by particular areas of scientific interest AND/OR geographicreach.

$22.1Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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 Institute INCMA · 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 →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$32.2M
Ln 12
Gifts and grantsLn 1h$29.1M
Investment incomeLn 3$2.8M
Other incomeLn 4–11$290K
Money outPt IX
$26.6M
Ln 25
Programscol B$22.1M
Managementcol C$2.4M
Fundraisingcol D$2.1M
Owns and owesPt X
$50.9M
net assets · Ln 32
Cash and savingsLn 1–2$26.5M
Total assetsLn 16$77.9M
LiabilitiesLn 26$27.0M
PeoplePt VI, VII
51
listed · VII A
PaidVII A9
Voting boardVI 1a41
IndependentVI 1b41
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29.1M
Noncash giftsLn 1g$1.6M
Investment incomeLn 3$2.8M
Other incomeLn 4–11$290K
Gains on assetsLn 7$1.8M
Total revenueLn 12$32.2M
Assets in detailPt X, end of year
CashLn 1$10.6M
SavingsLn 2$15.9M
Cash and savings togetherLn 1–2$26.5M
InvestmentsLn 11–13$42.6M
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$191K
Total assetsLn 16$77.9M
LiabilitiesLn 26$27.0M
Net assetsLn 32$50.9M
OperationsPt I, VI
EmployeesI 555
VolunteersI 660
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$20.2M$26.5M
InvestmentsLn 11–13$37.6M$42.6M
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$66.1M$77.9M
LiabilitiesLn 26$24.3M$27.0M
Net assetsLn 32$41.8M$50.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$21.3M$21.3M
Grants and assistance to foreign recipientsLn 3$200K$200K
Pay of current officers, directors and key staffLn 5$823K$120K$351K$352K
Other salaries and wagesLn 7$1.7M$258K$729K$762K
Pension plan contributionsLn 8$58K$8K$27K$23K
Other employee benefitsLn 9$456K$65K$208K$183K
Payroll taxesLn 10$171K$26K$70K$75K
Investment management feesLn 11f$173K$173K
Other fees for servicesLn 11g$222K$376$105K$117K
Advertising and promotionLn 12$142K$83K$60K
Office expensesLn 13$427K$1K$95K$331K
Information technologyLn 14$257K$18K$174K$65K
OccupancyLn 16$163K$23K$112K$28K
TravelLn 17$50K$3K$20K$27K
Depreciation, depletion and amortizationLn 22$100K$14K$69K$17K
InsuranceLn 23$23K$19K$5K
Other expenses (24a–d)Ln 24$247K$49K$158K$40K
All other expensesLn 24e$29K$432$5K$23K
Total functional expensesLn 25$26.6M$22.1M$2.4M$2.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $61.6M$70.6M−$9.0M$60.3M 990 PDF
FY2024 $62.4M$51.9M$10.5M$65.6M 990 PDF
FY2023 $47.8M$50.4M−$2.6M$50.9M 990 PDF
FY2022 $38.3M$33.1M$5.2M$49.9M 990 PDF
FY2021 Viewing $32.2M$26.6M$5.6M$50.9M 990 PDF
FY2020 $19.5M$18.9M$649K$41.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $32,236,754 across 9 lines filed
VIII-1d Related organizations$9,000,000
VIII-1f All other contributions, gifts and grants$20,112,571
VIII-1g Noncash contributions (included above)$1,562,926
VIII-1h Total contributions, gifts and grants$29,112,571
VIII-3 Investment incomeExcluded from tax $989,911$989,911
VIII-5 RoyaltiesExcluded from tax $200,997$200,997
VIII-6 Net rental income or lossExcluded from tax $88,762$88,762
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,844,513$1,844,513
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $3,124,183$32,236,754
Part IX · Statement of functional expenses $26,594,551 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $21,304,462$21,304,462
IX-3 Grants and assistance to foreign recipientsPrograms $200,000$200,000
IX-5 Pay of current officers, directors and key staffPrograms $120,356 · Management $350,571 · Fundraising $351,926$822,853
IX-7 Other salaries and wagesPrograms $257,996 · Management $729,227 · Fundraising $762,448$1,749,671
IX-8 Pension plan contributionsPrograms $8,155 · Management $26,609 · Fundraising $22,814$57,578
IX-9 Other employee benefitsPrograms $64,839 · Management $208,277 · Fundraising $182,571$455,687
IX-10 Payroll taxesPrograms $25,940 · Management $70,101 · Fundraising $75,457$171,498
IX-11f Investment management feesManagement $172,855$172,855
IX-11g Other fees for servicesPrograms $376 · Management $104,690 · Fundraising $116,583$221,649
IX-12 Advertising and promotionManagement $82,639 · Fundraising $59,764$142,403
IX-13 Office expensesPrograms $1,368 · Management $94,794 · Fundraising $331,013$427,175
IX-14 Information technologyPrograms $17,859 · Management $174,135 · Fundraising $64,873$256,867
IX-16 OccupancyPrograms $22,759 · Management $111,847 · Fundraising $27,962$162,568
IX-17 TravelPrograms $3,212 · Management $19,940 · Fundraising $26,791$49,943
IX-22 Depreciation, depletion and amortizationPrograms $14,057 · Management $69,082 · Fundraising $17,271$100,410
IX-23 InsuranceManagement $18,770 · Fundraising $4,693$23,463
IX-24 Other expenses (24a–d)Programs $49,432 · Management $157,524 · Fundraising $39,979$246,935
IX-24e All other expensesPrograms $432 · Management $4,981 · Fundraising $23,121$28,534
IX-25 Total functional expensesPrograms $22,091,243 · Management $2,396,042 · Fundraising $2,107,266$26,594,551
Part X · Balance sheet $77,875,594 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $5,538,168$10,564,440
X-2 Savings and temporary cash investmentsStart of year $14,678,294$15,886,450
X-3 Pledges and grants receivableStart of year $5,804,287$6,264,808
X-4 Accounts receivableStart of year $157,771$409,433
X-9 Prepaid expenses and deferred chargesStart of year $150,498$180,574
X-10c Land, buildings and equipment, netStart of year $1,767,679$1,681,472
X-11 Publicly traded securitiesStart of year $37,604,040$42,647,621
X-14 Intangible assetsStart of year $50,000$50,000
X-15 Other assetsStart of year $318,190$190,796
X-16 Total assetsStart of year $66,068,927$77,875,594
X-17 Accounts payable and accrued expensesStart of year $1,136,159$904,272
X-18 Grants payableStart of year $23,142,768$25,854,793
X-19 Deferred revenueStart of year $5,246$0
X-25 Other liabilitiesStart of year $9,084$210,946
X-26 Total liabilitiesStart of year $24,293,257$26,970,011
X-27 Net assets without donor restrictionsStart of year $19,808,146$31,395,289
X-28 Net assets with donor restrictionsStart of year $21,967,524$19,510,294
X-32 Total net assets or fund balancesStart of year $41,775,670$50,905,583
X-33 Total liabilities and net assetsStart of year $66,068,927$77,875,594
Part XI · Reconciliation of net assets $50,905,583 net assets at year end
XI-1 Total revenue$32,236,754
XI-2 Total expenses$26,594,551
XI-3 Revenue less expenses$5,642,203
XI-4 Net assets at start of year$41,775,670
XI-5 Net unrealized gains (losses) on investments$3,585,701
XI-9 Other changes in net assets−$97,991
XI-10 Net assets at end of year$50,905,583

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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