Fund research for Cure of limb girdle muscular dystrophy

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 12 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
1 of 3
filings with a surplus
Average deficit $38K a year · 17% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$45K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $105K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 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
$223K
-5% vs prior year
Spent
$416K
To programs
95%
Net assets
$358K
By yearFY2020–FY2024
Revenue
$223K
FY2024▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$121K
FY2021$185K
FY2022$208K
FY2023$235K
FY2024$223K
Expenses
$416K
FY2024▲ +291%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$258K
FY2023$106K
FY2024$416K
Net assets
$358K
FY2024▼ -35%
Tap a bar for its year
Net assets by fiscal year
FY2020$319K
FY2021$471K
FY2022$421K
FY2023$551K
FY2024$358K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2011.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $393K Management & general 5% · $22K

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

6 people listed on the 990; $45K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$45,000Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Creative Director/Executive Board Member
$0Pt VII · Sec A
Scientific Director
$0Pt VII · Sec A
Communications Director/Executive Board Member
$0Pt VII · Sec A

Kelly Brazzo’s $45K as President/CEO is at the 33rd percentile of top reported officer pay among 2168 $100K–1M human services 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.

See Cure Lgmd2i 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 to find a cure for Limb Girdle Muscular Dystrophy.

Questions for Cure Lgmd2i Foundation

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Provided by the organization

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1 program · $393K · in their own filed words · FY2024
01

The organization issued fifteen annual research grants to research GROUPS/FACILITIES in 2024. The purpose of which was to further advance researching the treatment of LGMD.

$393Kprogram 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
Total grants receivedfrom 1 funder$105K
Grants paid · 10 grants · $300K · 2022–2024
The Speak Foundation INCGA · FY2024$15,000
University of IowaFY2024$10,000
The Speak Foundation INCGA · FY2023$15,000
University of IowaFY2023$10,000
Kinea BioFY2022$100,000
MyogenicaFY2022$100,000
University of IowaFY2022$10,000
The Speak Foundation INCGA · FY2022$10,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$223K
Ln 12
Gifts and grantsLn 1h$184K
Other incomeLn 4–11$24K
Investment incomeLn 3$14K
Money outPt IX
$416K
Ln 25
Programscol B$393K
Managementcol C$22K
Owns and owesPt X
$358K
net assets · Ln 32
Cash and savingsLn 1–2$361K
Total assetsLn 16$361K
LiabilitiesLn 26$3K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$184K
Investment incomeLn 3$14K
Other incomeLn 4–11$24K
Total revenueLn 12$223K
Assets in detailPt X, end of year
CashLn 1$274K
SavingsLn 2$87K
Cash and savings togetherLn 1–2$361K
Total assetsLn 16$361K
LiabilitiesLn 26$3K
Net assetsLn 32$358K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$553K$361K
Total assetsLn 16$553K$361K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$551K$358K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$157K$157K
Grants and assistance to foreign recipientsLn 3$107K$107K
Pay of current officers, directors and key staffLn 5$45K$45K$0$0
Payroll taxesLn 10$4K$4K$0$0
Legal feesLn 11b$250$0$250$0
Accounting feesLn 11c$2K$0$2K$0
Office expensesLn 13$5K$0$5K$0
Conferences, conventions and meetingsLn 19$27K$27K$0$0
InterestLn 20$72$0$72$0
InsuranceLn 23$4K$0$4K$0
Other expenses (24a–d)Ln 24$64K$54K$11K$0
Total functional expensesLn 25$416K$393K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $223K$416K−$193K$358K 990 PDF
FY2023 $235K$106K$129K$551K 990 PDF
FY2022 $208K$258K−$50K$421K 990 PDF
FY2021 $185K$471K 990 PDF
FY2020 $121K$319K 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 F · Foreign O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $222,772 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $126,556$184,380
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,989$14,028
I-11 Other revenuePrior year $106,711$24,364
I-12 Total revenuePrior year $235,256$222,772
I-13 Grants and similar amounts paidPrior year $43,524$263,507
I-14 Benefits paid to members$0
I-15 Salaries and benefits$48,825
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $62,640$103,213
I-18 Total expensesPrior year $106,164$415,545
I-19 Revenue less expensesPrior year $129,092−$192,773
Part VI · Governance 3 of 5 board members independent, 5 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $222,772 across 5 lines filed
VIII-1f All other contributions, gifts and grants$184,380
VIII-1h Total contributions, gifts and grants$184,380
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$14,028
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $24,364$24,364
VIII-12 Total revenueRelated to mission $14,028 · Unrelated business $0 · Excluded from tax $24,364$222,772
Part IX · Statement of functional expenses $415,545 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $156,601$156,601
IX-3 Grants and assistance to foreign recipientsPrograms $106,906$106,906
IX-5 Pay of current officers, directors and key staffPrograms $45,000 · Management $0 · Fundraising $0$45,000
IX-10 Payroll taxesPrograms $3,825 · Management $0 · Fundraising $0$3,825
IX-11b Legal feesPrograms $0 · Management $250 · Fundraising $0$250
IX-11c Accounting feesPrograms $0 · Management $2,370 · Fundraising $0$2,370
IX-13 Office expensesPrograms $0 · Management $5,144 · Fundraising $0$5,144
IX-19 Conferences, conventions and meetingsPrograms $27,432 · Management $0 · Fundraising $0$27,432
IX-20 InterestPrograms $0 · Management $72 · Fundraising $0$72
IX-23 InsurancePrograms $0 · Management $3,525 · Fundraising $0$3,525
IX-24 Other expenses (24a–d)Programs $53,616 · Management $10,804 · Fundraising $0$64,420
IX-25 Total functional expensesPrograms $393,380 · Management $22,165 · Fundraising $0$415,545
Part X · Balance sheet $360,790 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $113,171$273,510
X-2 Savings and temporary cash investmentsStart of year $440,017$87,280
X-16 Total assetsStart of year $553,188$360,790
X-17 Accounts payable and accrued expensesStart of year $2,614$2,989
X-26 Total liabilitiesStart of year $2,614$2,989
X-27 Net assets without donor restrictionsStart of year $544,574$351,801
X-28 Net assets with donor restrictionsStart of year $6,000$6,000
X-32 Total net assets or fund balancesStart of year $550,574$357,801
X-33 Total liabilities and net assetsStart of year $553,188$360,790
Part XI · Reconciliation of net assets $357,801 net assets at year end
XI-1 Total revenue$222,772
XI-2 Total expenses$415,545
XI-3 Revenue less expenses−$192,773
XI-4 Net assets at start of year$550,574
XI-10 Net assets at end of year$357,801

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

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