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Champ Foundation

Tax-deductible

Durham, NC501(c)(3)Medical Research EIN 47-5555752Revenue $74K in FY2024

On file with the IRSthechampfoundation.org4711 Hope Valley Rd Ste 4f Pmb 1171, 27707-5651 · Durham, NCTax-exempt since Feb 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The Champ Foundation supports research toward better treatments and a cure for diseases casued by mitochondrial DNA deletions, such as Pearson syndrome. These diseases are rare. For example, there have only been around 100 reported cases of Pearson syndrome.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 10 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $33K a year · 11% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 22.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $36K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$74K
-39% vs prior year
Spent
$130K
To programs
98%
Net assets
$245K
By yearFY2020–FY2024
Revenue
$74K
FY2024▼ -39%
Tap a bar for its year
Revenue by fiscal year
FY2020$637K
FY2021$187K
FY2022$474K
FY2023$121K
FY2024$74K
Expenses
$130K
FY2024▼ -61%
Tap a bar for its year
Expenses by fiscal year
FY2020$256K
FY2021$219K
FY2022$386K
FY2023$338K
FY2024$130K
Net assets
$245K
FY2024▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$463K
FY2021$431K
FY2022$519K
FY2023$301K
FY2024$245K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2016.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $128K Management & general 2% · $2K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Elizabeth Reynolds
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Champ 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 15aNo

Programs and updates

Funds research for cures and treatments for rare mitochondrial deletion diseases.

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Provided by the organization

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1 program · $128K · in their own filed words · FY2024
01

In 2023, The Champ Foundation continued to support a multi-site Natural History Study at the Cleveland Clinic and Children's Hospital of Philadelphia and the Champ Foundation Registry, a research study of individuals with single large-scale mitochondrial DNA deletions (SLSMDS).

$128Kprogram expense

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 · FY2024
Morgan Stanley Global Impact Funding Trust INCFY2024$20K
Donor Advised Charitable Giving INCFY2024$10K
Nesi Family FoundationFY2024$5K
Dea Code Family Foundation INCFY2024$1K
Total grants receivedfrom 4 funders$36K
See all 4 funders →
Grants paid · 20 grants · $757K · 2020–2024
UclFY2024$94,489
The Children's Hospital of Philadelphia FoundationPA · FY2024$9,715
University of PittsburghPA · FY2023$50,000
The Children's Hospital of Philadelphia FoundationPA · FY2023$37,742
University of PittsburghPA · FY2022$50,000
The Children's Hospital of Philadelphia FoundationPA · FY2022$48,752
The Children's Hospital of Philadelphia FoundationPA · FY2022$36,327
The Children's Hospital of Philadelphia FoundationPA · FY2022$11,907
The Children's Hospital of Philadelphia FoundationPA · FY2021$48,752
The Children's Hospital of Philadelphia FoundationPA · FY2021$39,458
The Cleveland Clinic FoundationOH · FY2021$35,000
The University of CambridgeFY2021$30,000
University of MaastrichtFY2021$17,632
Children's Hospital CorporationMA · FY2021$12,451
The Children's Hospital of Philadelphia FoundationPA · FY2021$6,000
Children's Hospital CorporationMA · FY2020$112,451
The Children's Hospital of Philadelphia FoundationPA · FY2020$38,309
The Cleveland Clinic FoundationOH · FY2020$35,000
See all 20 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$74K
Ln 12
Gifts and grantsLn 1h$73K
Investment incomeLn 3$483
Money outPt IX
$130K
Ln 25
Programscol B$128K
Managementcol C$2K
Owns and owesPt X
$245K
net assets · Ln 32
Cash and savingsLn 1–2$245K
Total assetsLn 16$245K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$73K
Government grantsLn 1e$250
Investment incomeLn 3$483
Total revenueLn 12$74K
Assets in detailPt X, end of year
CashLn 1$245K
Cash and savings togetherLn 1–2$245K
Total assetsLn 16$245K
LiabilitiesLn 26$0
Net assetsLn 32$245K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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
LineStart FY24End FY24
Cash and savingsLn 1–2$301K$245K
Total assetsLn 16$301K$245K
LiabilitiesLn 26$0$0
Net assetsLn 32$301K$245K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$104K$104K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$474$474
Office expensesLn 13$3K$3K
TravelLn 17$6K$6K
Other expenses (24a–d)Ln 24$15K$15K
Total functional expensesLn 25$130K$128K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $74K$130K−$57K$245K 990 PDF
FY2023 $121K$338K−$218K$301K 990 PDF
FY2022 $474K$386K$88K$519K 990 PDF
FY2021 $187K$219K−$31K$431K 990 PDF
FY2020 $637K$256K$381K$463K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $73,758 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $119,379$73,275
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,249$483
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $120,628$73,758
I-13 Grants and similar amounts paidPrior year $306,720$104,205
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $31,597$26,127
I-18 Total expensesPrior year $338,317$130,332
I-19 Revenue less expensesPrior year −$217,689−$56,574
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $73,758 across 5 lines filed
VIII-1e Government grants$250
VIII-1f All other contributions, gifts and grants$73,025
VIII-1h Total contributions, gifts and grants$73,275
VIII-3 Investment incomeExcluded from tax $483$483
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $483$73,758
Part IX · Statement of functional expenses $130,332 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $104,205$104,205
IX-11c Accounting feesManagement $2,379$2,379
IX-11g Other fees for servicesPrograms $474$474
IX-13 Office expensesPrograms $2,526$2,526
IX-17 TravelPrograms $5,748$5,748
IX-24 Other expenses (24a–d)Programs $15,000$15,000
IX-25 Total functional expensesPrograms $127,953 · Management $2,379 · Fundraising $0$130,332
Part X · Balance sheet $244,742 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $301,316$244,742
X-16 Total assetsStart of year $301,316$244,742
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $301,316$244,742
X-32 Total net assets or fund balancesStart of year $301,316$244,742
X-33 Total liabilities and net assetsStart of year $301,316$244,742
Part XI · Reconciliation of net assets $244,742 net assets at year end
XI-1 Total revenue$73,758
XI-2 Total expenses$130,332
XI-3 Revenue less expenses−$56,574
XI-4 Net assets at start of year$301,316
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$244,742

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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