Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1997.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
92 cents of each dollar spent went to programs.
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
15 people listed on the 990; $1.0M paid to officers and key staff.
Todd Headley’s $315K as CEO is at the 85th percentile of top reported officer pay among 360 $1–10M 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Robert Donato | — | — | — | — | $327,878 | $364,620 |
| Nancy Demore MD | — | — | — | — | $350,189 | — |
| Todd Headley | $315,262 | $276,435 | — | — | — | — |
| Jesse Goodwin PHD | — | — | — | — | $264,855 | — |
| Michael Rusnak | — | — | — | $262,511 | $228,440 | $235,325 |
| Kathleen Brady MD PHD | — | — | — | — | $221,850 | — |
| Sachin Patel | — | — | — | — | $180,808 | $208,035 |
| Joe Ruscito | $207,862 | $195,694 | — | — | — | — |
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
Translates medical ideas into products and supports faculty education for public benefit.
Questions for Musc Foundation for Research Development
Your first name shows with your question. Musc Foundation for Research Development answers here, for everyone.
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The foundation manages and markets intellectual property emanating from musc in order to expedite, for the public's benefit, the translation of ideas into procedures, devices, and products.
The foundation assists musc in accomplishing its educational and public service missions by supporting continuing medical education and other opportunities for musc faculty, residents, and medical students. Other regional, national and international attendees and faculty contribute to the exchange of information and ideas.
The Foundation is a 501(c)3 not-for-profit technology transfer office that acts as a point of contact for industry and entrepreneurs wishing to commercialize intellectual property from the Medical University of South Carolina (MUSC).
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $3.3M | $1.4M |
| Land, buildings, equipmentLn 10c | $5K | $6K |
| Total assetsLn 16 | $4.7M | $4.7M |
| LiabilitiesLn 26 | $2.1M | $1.8M |
| Net assetsLn 32 | $2.7M | $2.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $928K | $835K | $93K | |
| Other salaries and wagesLn 7 | $1.3M | $1.3M | $34K | |
| Legal feesLn 11b | $1.1M | $971K | $85K | |
| Other fees for servicesLn 11g | $0 | $0 | $0 | $0 |
| Office expensesLn 13 | $145K | $128K | $17K | |
| Information technologyLn 14 | $59K | $59K | ||
| RoyaltiesLn 15 | $1.4M | $1.4M | ||
| OccupancyLn 16 | $92K | $13K | $79K | |
| TravelLn 17 | $45K | $45K | ||
| Depreciation, depletion and amortizationLn 22 | $2K | $2K | ||
| InsuranceLn 23 | $21K | $21K | ||
| Other expenses (24a–d)Ln 24 | $173K | $142K | $30K | |
| All other expensesLn 24e | $2K | $0 | $2K | $0 |
| Total functional expensesLn 25 | $5.2M | $4.8M | $408K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $5.6M | $5.2M | $404K | $2.9M | 990 PDF |
| FY2024 | $5.1M | $4.5M | $613K | $2.7M | 990 PDF |
| FY2023 | $5.5M | $4.6M | $841K | $2.1M | 990 PDF |
| FY2022 | $3.0M | $2.9M | $97K | $1.1M | 990 PDF |
| FY2021 | $2.8M | $2.8M | −$46K | $1.0M | 990 PDF |
| FY2020 | $2.7M | $2.9M | −$184K | $1.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $5,644,410 revenue, 12 lines filed
Part VI · Governance 8 of 8 board members independent, no flags
Part VIII · Statement of revenue $5,644,410 across 6 lines filed
Part IX · Statement of functional expenses $5,240,239 across 13 lines filed
Part X · Balance sheet $4,727,479 assets, 15 lines filed
Part XI · Reconciliation of net assets $2,922,716 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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