Cvpath Institute INC: FY2020 Nonprofit Profile & Form 990 (EIN 20-4903376)

Revenue by fiscal year
FY2020	$10.5M
FY2021	$13.2M
FY2022	$10.3M
FY2023	$10.5M
FY2024	$13.1M

Expenses by fiscal year
FY2020	$12.0M
FY2021	$10.6M
FY2022	$9.9M
FY2023	$10.2M
FY2024	$14.0M

Net assets by fiscal year
FY2020	$14.0M
FY2021	$15.6M
FY2022	$14.6M
FY2023	$15.9M
FY2024	$16.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2007.

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

Where the money goes

93 cents of each dollar spent went to programs.

93%

Program services 93% · $11.1M Management & general 7% · $880K

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

13 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation

Renu Virmani Finn MD

President

$536,016Pt VII · Sec A

Aloke Finn MD

Treasurer & Medical Director

$476,650Pt VII · Sec A

Maria Romero MD

Chief of Anatomic Pathology

$211,675Pt VII · Sec A

Frank Kolodgie PHD

Associate Director

$193,983Pt VII · Sec A

Robert Kutys Ms

Pathologist Assistant

$107,126Pt VII · Sec A

Russell Jones

Senior Research Associate

$105,878Pt VII · Sec A

Tina Richards

Director, Business Operations & Administration

$100,528Pt VII · Sec A

Craig Kennedy

Director

$0Pt VII · Sec A

Aloke Finn MD’s $576K as President & Chief Scientific Officer is at the 65th 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

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Aloke Finn MD	$575,559	—	$519,024	$463,189	$476,650
Aloke V Finn MD	—	$539,939	—	—	—
Renu Virmani Finn MD	—	—	$502,831	$459,366	$536,016
Renu Virmani Finn	$469,019	$523,575	—	—	—
Maria Romero MD	$262,294	$249,848	$241,833	$215,102	$211,675
Elena Ruth Ladich	$236,790	$186,349	—	—	—
Frank Kolodgie PHD	$215,569	$218,161	$228,064	$189,899	$193,983
Tina Richards	$137,221	$136,107	$121,876	$107,752	$100,528

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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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

Advancing cardiovascular treatments through research, consultation, and diagnostic services.

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Provided by the organization

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1 program · $11.1M · in their own filed words · FY2020

01

Medical Research

Conduct research in conjunction with government and commercial collaborators to further advancements in human health.

$11.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record

Grants received · FY2024

Leducq Foundation for Cardiovascular ResearchFY2024$14K

Total grants receivedfrom 1 funder$14K

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$10.5M

Ln 12

Fees for servicesLn 2g$9.4M

Gifts and grantsLn 1h$1.0M

Investment incomeLn 3$109K

Money outPt IX

$12.0M

Ln 25

Programscol B$11.1M

Managementcol C$880K

Owns and owesPt X

$14.0M

net assets · Ln 32

Cash and savingsLn 1–2$1.4M

Total assetsLn 16$15.8M

LiabilitiesLn 26$1.8M

PeoplePt VI, VII

13

listed · VII A

PaidVII A7

Voting boardVI 1a8

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.0M

Government grantsLn 1e$840K

Fees for servicesLn 2g$9.4M

Investment incomeLn 3$109K

Gains on assetsLn 7−$92K

Total revenueLn 12$10.5M

Assets in detailPt X, end of year

CashLn 1$1.4M

SavingsLn 2$11K

Cash and savings togetherLn 1–2$1.4M

InvestmentsLn 11–13$10.9M

Land, buildings, equipmentLn 10c$1.4M

Total assetsLn 16$15.8M

LiabilitiesLn 26$1.8M

Net assetsLn 32$14.0M

OperationsPt I, VI

EmployeesI 558

VolunteersI 66

Fiscal year endsHeaderDecember

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$1.9M	$1.4M
InvestmentsLn 11–13	$9.3M	$10.9M
Land, buildings, equipmentLn 10c	$1.8M	$1.4M
Total assetsLn 16	$15.4M	$15.8M
LiabilitiesLn 26	$1.1M	$1.8M
Net assetsLn 32	$14.3M	$14.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$1.1M	$973K	$108K	$0
Other salaries and wagesLn 7	$3.4M	$3.0M	$338K	$0
Pension plan contributionsLn 8	$199K	$179K	$20K	$0
Other employee benefitsLn 9	$467K	$420K	$47K	$0
Payroll taxesLn 10	$222K	$200K	$22K	$0
Legal feesLn 11b	$12K	$0	$12K	$0
Accounting feesLn 11c	$30K	$0	$30K	$0
Investment management feesLn 11f	$73K	$0	$73K	$0
Other fees for servicesLn 11g	$3.9M	$3.9M	$0	$0
Office expensesLn 13	$177K	$151K	$26K	$0
Information technologyLn 14	$57K	$51K	$6K	$0
OccupancyLn 16	$796K	$757K	$40K	$0
TravelLn 17	$22K	$22K	$0	$0
Conferences, conventions and meetingsLn 19	$11K	$8K	$3K	$0
Depreciation, depletion and amortizationLn 22	$436K	$430K	$7K	$0
InsuranceLn 23	$130K	$41K	$88K	$0
Other expenses (24a–d)Ln 24	$967K	$907K	$60K	$0
Total functional expensesLn 25	$12.0M	$11.1M	$880K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$13.1M	$14.0M	−$889K	$16.2M	990 PDF
FY2023	$10.5M	$10.2M	$295K	$15.9M	990 PDF
FY2022	$10.3M	$9.9M	$385K	$14.6M	990 PDF
FY2021	$13.2M	$10.6M	$2.6M	$15.6M	990 PDF
FY2020 Viewing	$10.5M	$12.0M	−$1.4M	$14.0M	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 FY2020 990 (6 parts)

Part I · Summary $10,525,646 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $189,172$1,031,362

I-9 Program service revenuePrior year $8,691,122$9,384,837

I-10 Investment incomePrior year $422,220$109,447

I-11 Other revenue$0

I-12 Total revenuePrior year $9,302,514$10,525,646

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $5,511,046$5,350,581

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $4,044,649$6,602,352

I-18 Total expensesPrior year $9,555,695$11,952,933

I-19 Revenue less expensesPrior year −$253,181−$1,427,287

Part VI · Governance 5 of 8 board members independent, 1 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members5

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $10,525,646 across 7 lines filed

VIII-1e Government grants$840,152

VIII-1f All other contributions, gifts and grants$191,210

VIII-1h Total contributions, gifts and grants$1,031,362

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$9,384,837

VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $201,513$201,513

VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$92,066−$92,066

VIII-12 Total revenueRelated to mission $9,384,837 · Unrelated business $0 · Excluded from tax $109,447$10,525,646

Part IX · Statement of functional expenses $11,952,933 across 17 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $973,150 · Management $108,128 · Fundraising $0$1,081,278

IX-7 Other salaries and wagesPrograms $3,043,584 · Management $338,176 · Fundraising $0$3,381,760

IX-8 Pension plan contributionsPrograms $178,899 · Management $19,878 · Fundraising $0$198,777

IX-9 Other employee benefitsPrograms $420,001 · Management $46,667 · Fundraising $0$466,668

IX-10 Payroll taxesPrograms $199,888 · Management $22,210 · Fundraising $0$222,098

IX-11b Legal feesPrograms $0 · Management $12,438 · Fundraising $0$12,438

IX-11c Accounting feesPrograms $0 · Management $30,075 · Fundraising $0$30,075

IX-11f Investment management feesPrograms $0 · Management $73,490 · Fundraising $0$73,490

IX-11g Other fees for servicesPrograms $3,890,061 · Management $0 · Fundraising $0$3,890,061

IX-13 Office expensesPrograms $151,481 · Management $25,716 · Fundraising $0$177,197

IX-14 Information technologyPrograms $51,426 · Management $5,714 · Fundraising $0$57,140

IX-16 OccupancyPrograms $756,664 · Management $39,824 · Fundraising $0$796,488

IX-17 TravelPrograms $21,604 · Management $0 · Fundraising $0$21,604

IX-19 Conferences, conventions and meetingsPrograms $7,877 · Management $2,725 · Fundraising $0$10,602

IX-22 Depreciation, depletion and amortizationPrograms $429,848 · Management $6,576 · Fundraising $0$436,424

IX-23 InsurancePrograms $41,345 · Management $88,380 · Fundraising $0$129,725

IX-24 Other expenses (24a–d)Programs $907,361 · Management $59,747 · Fundraising $0$967,108

IX-25 Total functional expensesPrograms $11,073,189 · Management $879,744 · Fundraising $0$11,952,933

Part X · Balance sheet $15,820,010 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $1,928,953$1,369,151

X-2 Savings and temporary cash investmentsStart of year $11,013$11,014

X-4 Accounts receivableStart of year $2,016,833$1,793,554

X-9 Prepaid expenses and deferred chargesStart of year $323,804$306,267

X-10c Land, buildings and equipment, netStart of year $1,797,004$1,448,947

X-11 Publicly traded securitiesStart of year $9,314,220$10,891,077

X-16 Total assetsStart of year $15,391,827$15,820,010

X-17 Accounts payable and accrued expensesStart of year $1,057,366$1,371,827

X-19 Deferred revenue$413,779

X-25 Other liabilitiesStart of year $16,820$53,133

X-26 Total liabilitiesStart of year $1,074,186$1,838,739

X-27 Net assets without donor restrictionsStart of year $14,317,641$13,981,271

X-32 Total net assets or fund balancesStart of year $14,317,641$13,981,271

X-33 Total liabilities and net assetsStart of year $15,391,827$15,820,010

Part XI · Reconciliation of net assets $13,981,271 net assets at year end

XI-1 Total revenue$10,525,646

XI-2 Total expenses$11,952,933

XI-3 Revenue less expenses−$1,427,287

XI-4 Net assets at start of year$14,317,641

XI-5 Net unrealized gains (losses) on investments$1,090,917

XI-10 Net assets at end of year$13,981,271

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cvpath Institute INC FY2020 filing

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