Thor Network Foundation EIN 83-2615647

Thor Network Foundation

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Improves best practices for treating hemorrhagic shock resuscitation. For fiscal year 2024 it reported $731K in revenue, $759K in expenses, and $183K in net assets.Pt I

Type
Public charity (501(c)(3)) · Health Care
Location
Sewickley, PA
Website
rdcr.org
Filings
5 on file (2020–2024)
Revenue
$731KFY2024
Expenses
$759K
Net assets
$183K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  83-2615647 Public charity (501(c)(3)) Sewickley, PA
Form 990 (PDF)
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Size
$100K–1M
What they do
Improves best practices for treating hemorrhagic shock resuscitation.
Leadership
Philp Spinella · President · $50K
Money in and out
$731K revenue, $759K expenses
Bottom line
88% program efficiency
Where the money goes · FY2024
Total revenue
$731K
Pt VIII · Ln 12
Total expenses
$759K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$28K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.12
Program efficiency
88%
of spending reaches programs▲ +24% vs prior filing year
Operating runway
2.9mo
months of highly liquid reserves at operating expense rate▼ -59% vs prior filing year
Surplus margin
-4%
revenue over expenses, this year▼ -529% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$731K
FY2024▲ +100%
Expenses
$759K
FY2024▲ +109%
Total assets
$183K
FY2024▼ -13%
Total liabilities
$0
FY2024
Total revenue
$731K
Pt VIII · Ln 12
Total expenses
$759K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$28K
Total assetsPt X · Ln 16$183K
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

2 program services account for $669K of program spending, described in the organization's own filed words · FY2024.
01

The goal of the HDFN Consensus Study Meeting is to develop recommendations for 20 topics related to the risks and treatment of HDFN and offer recommendations that will lead to the development and dissemination of educational materials for specialty providers and patients

$363Kprogram expense
02

The goal of the RDCR symposium is to focus on training methods to improve implementation of RDCR principles to present current research in RDCR and to provide practical information from international leaders in trauma resuscitation on their approach to RDCR.

$306Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThor Network Foundation
EINHdr · item D83-2615647
Principal addressHdr · item CSewickley, PA
WebsiteHdr · item Jrdcr.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E99)
Ruling yearIRS BMFAug 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$50,000Pt VII · Sec A
Secretary
$18,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Philp Spinella’s $50K as President is at the 35th percentile of top reported officer pay among 1966 $100K–1M health care 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2020
Philp Spinella$50,000$60,000$20,000
Geir Strandnes$25,000
Dan Martin$18,000$18,000$18,000$18,000

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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Statement of Revenue

Part VIII
Program service revenue$409K · 56%
Contributions & grants$322K · 44%
Program service revenue56%$409K
Contributions & grants44%$322K
Total revenueLn 12$731K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.12
Program services88%$669K
Management & general12%$90K
Total functional expensesLn 25$759K

Balance Sheet

Part X · end of year
CashLn 1$183K
Total assetsLn 16$183K
Total liabilitiesLn 26$0
Total net assetsLn 32$183K
Months of cash on handcomputed2.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $183K · Operating expenses/yr $759K
2.9 months
Where the money goes
Program services
Program services $669K · Total expenses $759K
88%
Management & General
Management & general $90K · Total expenses $759K
12%
Fundraising
Fundraising $0 · Total expenses $759K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $186K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $322K · Total revenue $731K
44%
Government reliance
Government grants $0 · Total revenue $731K
0%
Earned-income share
Program service revenue $409K · Total revenue $731K
56%
Investment reliance
Investment income $0 · Total revenue $731K
0%
Program self-sufficiency
Program service revenue $409K · Total expenses $759K
54%
Growth & trend
Revenue growth (YoY)
This year $731K · Prior year $366K
+100%
Revenue CAGR
FY2020 $233K · FY2024 $731K
+33%
Net-asset trend (YoY)
End of year $183K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $731K · Expenses $759K
-4%
Liabilities-to-Assets
Total liabilities — · Total assets $183K
Net-asset ratio
Net assets $183K · Total assets $183K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $183K
0%
People & payroll
Highest Reported Total Compensation
Individual Philp Spinella · Reported title PRESIDENT · Highest reported compensation $50K · Total expenses $759K
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $759K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 12%
Fundraising cost ratio 0%
Revenue growth 100%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$86K
Grants paid · 1 grant · $35K · 2020–2020
Washington UniversityMO · FY2020$34,803

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$731K revenue · viewing · ⤓ 990 PDF
FY2023$366K revenue · ⤓ 990 PDF
FY2022$106K revenue · ⤓ 990 PDF
FY2021$94K revenue · ⤓ 990 PDF
FY2020$233K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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