Cardiovascular Research Foundation

Tax-deductible

New York, NY501(c)(3)Since 1991Medical ResearchEIN 52-1752653

Cardiovascular research foundation is an independent, academically focused organization dedicated to improving the survival and quality of life for people with cardiovascular disease through research and education. The organization has played a major role in realizing dramatic improvements in the lives of countless numbers of patients by establishing the safe use of new technologies and therapies in the subspecialty of interventional cardiology and endovascular medicine.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$4.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
4 of 5
filings with a surplus
Average surplus $4.1M a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.1M
to officers and key staff · 6% of spending
Top officer’s pay higher than 95% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$37.2M
43% of total assets
Looks good: liabilities are 43% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$68.9M
-12% vs prior year
Spent
$66.7M
To programs
88%
Net assets
$50.2M
By yearFY2020–FY2024
Revenue
$68.9M
FY2024▼ -12%
Revenue by fiscal year
FY2020$37.5M
FY2021$52.3M
FY2022$61.3M
FY2023$78.3M
FY2024$68.9M
Expenses
$66.7M
FY2024▲ +3%
Expenses by fiscal year
FY2020$41.5M
FY2021$47.3M
FY2022$57.3M
FY2023$65.0M
FY2024$66.7M
Net assets
$50.2M
FY2024▲ +8%
Net assets by fiscal year
FY2020$25.3M
FY2021$31.2M
FY2022$32.7M
FY2023$46.4M
FY2024$50.2M

From the FY2024 Form 990 · 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: FY2024. IRS ruling in Jul 1992.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $58.3M Management & general 12% · $8.3M Fundraising 0% · $43K

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

Who runs it and what they're paid

18 people listed on the 990; $4.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO & Director
$933,460Pt VII · Sec A
Director of Clinical & Out
$700,158Pt VII · Sec A
Chief Legal Officer
$482,912Pt VII · Sec A
$474,963Pt VII · Sec A
$461,897Pt VII · Sec A
Executive Director, Ced
$431,480Pt VII · Sec A
Director Research
$325,318Pt VII · Sec A
Director of Heart Failure
$315,075Pt VII · Sec A

Juan F Granada MD’s $933K as CEO & Director is at the 95th 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

NameFY2024FY2023FY2022FY2021FY2020
Juan F Granada MD$933,460$945,463——$805,310
Juan F Granada——$913,707$930,295—
David Cohen$700,158$704,590$704,090$591,559—
Ori Ben-Yehuda MD——$543,855$547,097$452,063
Donald L Abrams$482,912$471,379———
Eileen Morales$474,963$450,290$422,333$408,211$331,951
Alexandra Popma$461,897$437,422———
Donald L Abrams ESQ——$457,262$442,439$430,447

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Advances cardiovascular health through research and education, improving patient survival and quality of life.

Provided by the organization

This section is blank until Cardiovascular Research Foundation claims this page.

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3 program services account for $36.2M of program spending, described in the organization's own filed words · FY2024.
01

Clinical Trials Center

A distinguished academic research organization, the CRF clinical trials center (CTC) plans and executes clinical investigations from first-in-man studies to large, multicenter international trials designed to gain insights that will elevate the quality of care in cardiovascular medicine.

$19.1Mprogram expense
02

Tct 2024 (transcatheter Cardiovascular Therapeutics) Meeting

The cardiovascular research foundation (CRF) stands at the forefront of education in cardiovascular medicine. This focus reflects the CRF faculty's commitment to sharing and disseminating the latest clinical research information to the broadest audience at the earliest possible date.

$10.8Mprogram expense
03

Skirball Center for Innovation

A state of the art innovation center, the CRF skirball center for innovation is dedicated to the investigation and validation of novel concepts, treatments, and devices. Our preeminent team of pioneering researchers and thought leaders continually break new ground as they guide early ideas and inventions through comprehensive preclinical…

$6.3Mprogram 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 · FY2024
Total grants receivedfrom 1 funder$15K
Grants paid · 5 grants · $4.6M · 2020–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$68.9M
Ln 12
Fees for servicesLn 2g$60.0M
Gifts and grantsLn 1h$7.4M
Investment incomeLn 3$1.7M
Money outPt IX
$66.7M
Ln 25
Programscol B$58.3M
Managementcol C$8.3M
Fundraisingcol D$43K
Owns and owesPt X
$50.2M
net assets · Ln 32
Cash and savingsLn 1–2$21.4M
Total assetsLn 16$87.5M
LiabilitiesLn 26$37.2M
PeoplePt VI, VII
18
listed · VII A
PaidVII A8
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.4M
Fundraising eventsLn 1c$566K
Fees for servicesLn 2g$60.0M
Investment incomeLn 3$1.7M
Gains on assetsLn 7$76K
Total revenueLn 12$68.9M
Assets in detailPt X, end of year
CashLn 1$7.6M
SavingsLn 2$13.8M
Cash and savings togetherLn 1–2$21.4M
InvestmentsLn 11–13$24.4M
Land, buildings, equipmentLn 10c$7.9M
Other assetsLn 15$3.5M
Total assetsLn 16$87.5M
LiabilitiesLn 26$37.2M
Net assetsLn 32$50.2M
OperationsPt I, VI
EmployeesI 5204
VolunteersI 60
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$28.4M$21.4M
InvestmentsLn 11–13$16.1M$24.4M
Land, buildings, equipmentLn 10c$8.2M$7.9M
Total assetsLn 16$92.0M$87.5M
LiabilitiesLn 26$45.5M$37.2M
Net assetsLn 32$46.4M$50.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.0M$1.0M
Pay of current officers, directors and key staffLn 5$2.0M$1.6M$413K
Other salaries and wagesLn 7$21.0M$16.7M$4.3M
Pension plan contributionsLn 8$491K$402K$89K
Other employee benefitsLn 9$1.7M$1.4M$303K
Payroll taxesLn 10$1.6M$1.3M$299K
Legal feesLn 11b$169K$169K
Accounting feesLn 11c$187K$187K
Investment management feesLn 11f$55K$55K
Other fees for servicesLn 11g$8.0M$7.6M$440K
Advertising and promotionLn 12$67K$67K
Office expensesLn 13$535K$448K$86K$133
OccupancyLn 16$3.4M$2.9M$452K
TravelLn 17$1.6M$1.5M$77K
Conferences, conventions and meetingsLn 19$17.6M$17.5M$9K$32K
InterestLn 20$532K$518K$13K
Depreciation, depletion and amortizationLn 22$998K$924K$74K
InsuranceLn 23$573K$480K$93K
Other expenses (24a–d)Ln 24$4.5M$3.4M$1.1M$7K
All other expensesLn 24e$610K$517K$89K$4K
Total functional expensesLn 25$66.7M$58.3M$8.3M$43K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $68.9M$66.7M$2.2M$50.2M 990 PDF
FY2023 $78.3M$65.0M$13.3M$46.4M 990 PDF
FY2022 $61.3M$57.3M$4.0M$32.7M 990 PDF
FY2021 $52.3M$47.3M$4.9M$31.2M 990 PDF
FY2020 $37.5M$41.5M−$4.0M$25.3M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $68,904,326 across 8 lines filed
Lines not itemized here account for $2,000 of total revenue; see the IRS return.
VIII-1c Fundraising events$565,500
VIII-1f All other contributions, gifts and grants$6,856,606
VIII-1h Total contributions, gifts and grants$7,422,106
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $59,958,634$59,958,634
VIII-3 Investment incomeExcluded from tax $1,574,405$1,574,405
VIII-7 Net gain or loss on sales of assetsExcluded from tax $76,393$76,393
VIII-8 Net income from fundraising eventsExcluded from tax −$129,212−$129,212
VIII-12 Total revenueRelated to mission $59,960,634 · Unrelated business $0 · Excluded from tax $1,521,586$68,904,326
Part IX · Statement of functional expenses $66,655,898 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $1,000,000$1,000,000
IX-5 Pay of current officers, directors and key staffPrograms $1,613,921 · Management $412,542$2,026,463
IX-7 Other salaries and wagesPrograms $16,682,239 · Management $4,305,506$20,987,745
IX-8 Pension plan contributionsPrograms $401,900 · Management $89,210$491,110
IX-9 Other employee benefitsPrograms $1,365,401 · Management $303,077$1,668,478
IX-10 Payroll taxesPrograms $1,348,211 · Management $299,262$1,647,473
IX-11b Legal feesManagement $168,507$168,507
IX-11c Accounting feesManagement $187,322$187,322
IX-11f Investment management feesManagement $54,516$54,516
IX-11g Other fees for servicesPrograms $7,573,388 · Management $440,000$8,013,388
IX-12 Advertising and promotionPrograms $67,277$67,277
IX-13 Office expensesPrograms $448,193 · Management $86,316 · Fundraising $133$534,642
IX-16 OccupancyPrograms $2,943,878 · Management $451,594$3,395,472
IX-17 TravelPrograms $1,518,097 · Management $77,459$1,595,556
IX-19 Conferences, conventions and meetingsPrograms $17,533,116 · Management $9,254 · Fundraising $31,654$17,574,024
IX-20 InterestPrograms $518,400 · Management $13,138$531,538
IX-22 Depreciation, depletion and amortizationPrograms $923,503 · Management $74,194$997,697
IX-23 InsurancePrograms $479,697 · Management $93,217$572,914
IX-24 Other expenses (24a–d)Programs $3,407,850 · Management $1,117,143 · Fundraising $6,783$4,531,776
IX-24e All other expensesPrograms $516,992 · Management $88,544 · Fundraising $4,464$610,000
IX-25 Total functional expensesPrograms $58,342,063 · Management $8,270,801 · Fundraising $43,034$66,655,898
Part X · Balance sheet $87,491,417 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $13,422,752$7,616,305
X-2 Savings and temporary cash investmentsStart of year $14,944,760$13,766,231
X-4 Accounts receivableStart of year $15,485,969$13,076,045
X-9 Prepaid expenses and deferred chargesStart of year $2,306,356$2,512,825
X-10c Land, buildings and equipment, netStart of year $8,225,464$7,899,066
X-11 Publicly traded securitiesStart of year $16,103,554$24,355,014
X-12 Other securitiesStart of year $32,591$32,566
X-14 Intangible assetsStart of year $16,646,673$14,759,603
X-15 Other assetsStart of year $4,801,765$3,473,762
X-16 Total assetsStart of year $91,969,884$87,491,417
X-17 Accounts payable and accrued expensesStart of year $13,079,582$8,185,232
X-19 Deferred revenueStart of year $2,489,270$2,057,939
X-20 Tax-exempt bond liabilitiesStart of year $10,510,001$9,600,000
X-25 Other liabilitiesStart of year $19,465,317$17,405,638
X-26 Total liabilitiesStart of year $45,544,170$37,248,809
X-27 Net assets without donor restrictionsStart of year $46,425,714$50,242,608
X-32 Total net assets or fund balancesStart of year $46,425,714$50,242,608
X-33 Total liabilities and net assetsStart of year $91,969,884$87,491,417
Part XI · Reconciliation of net assets $50,242,608 net assets at year end
XI-1 Total revenue$68,904,326
XI-2 Total expenses$66,655,898
XI-3 Revenue less expenses$2,248,428
XI-4 Net assets at start of year$46,425,714
XI-5 Net unrealized gains (losses) on investments$1,568,466
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$50,242,608

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

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