Epigenetic Clock Development Corporation FY2023 filing

Tax-deductible

Torrance, CA501(c)(3)Medical ResearchEIN 85-1457272Revenue $2.9M in FY2023

On file with the IRSclockfoundation.org1124 West Carson Street Mrl Bldg 3, 90502-2006 · Torrance, CATax-exempt since Nov 2022Hospital or medical research org — 170(b)(1)(A)(iii)

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The Epigenetic Clock Development foundation ("Clock foundation") was formed to enable rigorous medical research on aging and longevity. Our research mainly involves use and Development of new aging biomarkers known as Epigenetic clocks for testing the effectiveness of longevity treatments within preclinical and clinical studies.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$240K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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 3
filings with a surplus
Average deficit $40K a year · 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$240K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$946K
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
-20% vs prior year
Spent
$3.5M
To programs
99%
Net assets
$9K
By yearFY2022–FY2024
Revenue
$2.9M
FY2023▼ -20%
Tap a bar for its year
Revenue by fiscal year
FY2022$3.6M
FY2023$2.9M
FY2024$2.1M
Expenses
$3.5M
FY2023▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2022$3.4M
FY2023$3.5M
FY2024$1.8M
Net assets
$9K
FY2023▼ -99%
Tap a bar for its year
Net assets by fiscal year
FY2022$661K
FY2023$9K
FY2024$144K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2022.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $3.4M Management & general 1% · $41K

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

3 people listed on the 990; $240K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$120,000Pt VII · Sec A
Director, Chairman
$120,000Pt VII · Sec A
$0Pt VII · Sec A

Robert Brooke’s $120K as Executive Director is at the 25th 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022
Robert Brooke$120,000$120,000$120,000
Stefan Horvath—$120,000$106,042

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

Develops and uses epigenetic clocks to research aging and test longevity treatments.

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Provided by the organization

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2 programs · $2.5M · in their own filed words · FY2023
01

External Research Collaborations

Interventional longevity studies we conducted many new interventional studies, for clinical trials and also preclinical studies. This includes studies on plasmapharesis, young plasma treatment, stem cell exosomes, bone marrow transplants, umbilical cord plasma, antiretroviral treatments, and a senolytic gene therapy.

$2.4Mprogram expense
02

Internal Research Program

Since inception we have focused on development of epigenetic clocks as a key enabling technology for the field. We are a small team of dedicated researchers, and this year hired additional part-time operational, admin, and finance staff, along with a new research associate.

$95Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$1.9M
Other incomeLn 4–11$957K
Gifts and grantsLn 1h$7K
Money outPt IX
$3.5M
Ln 25
Programscol B$3.4M
Managementcol C$41K
Owns and owesPt X
$9K
net assets · Ln 32
Cash and savingsLn 1–2$157K
Total assetsLn 16$955K
LiabilitiesLn 26$946K
PeoplePt VI, VII
3
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7K
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$289
Other incomeLn 4–11$957K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
SavingsLn 2$157K
Cash and savings togetherLn 1–2$157K
Other assetsLn 15$31K
Total assetsLn 16$955K
LiabilitiesLn 26$946K
Net assetsLn 32$9K
OperationsPt I, VI
EmployeesI 56
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 FY23End FY23
Cash and savingsLn 1–2$638K$157K
Total assetsLn 16$1.2M$955K
LiabilitiesLn 26$533K$946K
Net assetsLn 32$661K$9K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$240K$240K
Other salaries and wagesLn 7$18K$18K
Payroll taxesLn 10$27K$27K
Legal feesLn 11b$31K$31K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$64K$64K
Advertising and promotionLn 12$18K$18K
Office expensesLn 13$27$27
OccupancyLn 16$70K$70K
TravelLn 17$942$942
InsuranceLn 23$54K$54K
Other expenses (24a–d)Ln 24$2.9M$2.9M
All other expensesLn 24e$40K$40K
Total functional expensesLn 25$3.5M$3.4M$41K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.1M$1.8M$245K$144K 990 PDF
FY2023 Viewing $2.9M$3.5M−$568K$9K 990 PDF
FY2022 $3.6M$3.4M$203K$661K 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 FY2023 990 (6 parts)
Part I · Summary $2,885,392 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$6,600
I-9 Program service revenuePrior year $1,580,545$1,921,950
I-10 Investment incomePrior year $116$289
I-11 Other revenuePrior year $2,013,146$956,553
I-12 Total revenuePrior year $3,593,807$2,885,392
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $381,782$284,545
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,009,302$3,168,916
I-18 Total expensesPrior year $3,391,084$3,453,461
I-19 Revenue less expensesPrior year $202,723−$568,069
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,885,392 across 6 lines filed
VIII-1f All other contributions, gifts and grants$6,600
VIII-1h Total contributions, gifts and grants$6,600
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,921,950$1,921,950
VIII-3 Investment incomeRelated to mission $289$289
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $956,553$956,553
VIII-12 Total revenueRelated to mission $2,878,792 · Unrelated business $0 · Excluded from tax $0$2,885,392
Part IX · Statement of functional expenses $3,453,461 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $240,000$240,000
IX-7 Other salaries and wagesPrograms $17,860$17,860
IX-10 Payroll taxesPrograms $26,685$26,685
IX-11b Legal feesManagement $30,881$30,881
IX-11c Accounting feesManagement $10,057$10,057
IX-11g Other fees for servicesPrograms $64,407$64,407
IX-12 Advertising and promotionPrograms $18,425$18,425
IX-13 Office expensesPrograms $27$27
IX-16 OccupancyPrograms $69,583$69,583
IX-17 TravelPrograms $942$942
IX-23 InsurancePrograms $54,196$54,196
IX-24 Other expenses (24a–d)Programs $2,880,558$2,880,558
IX-24e All other expensesPrograms $39,840$39,840
IX-25 Total functional expensesPrograms $3,412,523 · Management $40,938 · Fundraising $0$3,453,461
Part X · Balance sheet $954,701 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $638,291$157,312
X-4 Accounts receivableStart of year $510,227$766,383
X-9 Prepaid expenses and deferred chargesStart of year $9,955$245
X-15 Other assetsStart of year $35,250$30,761
X-16 Total assetsStart of year $1,193,723$954,701
X-17 Accounts payable and accrued expensesStart of year $532,743$945,905
X-26 Total liabilitiesStart of year $532,743$945,905
X-27 Net assets without donor restrictionsStart of year $660,980$8,796
X-32 Total net assets or fund balancesStart of year $660,980$8,796
X-33 Total liabilities and net assetsStart of year $1,193,723$954,701
Part XI · Reconciliation of net assets $8,796 net assets at year end
XI-1 Total revenue$2,885,392
XI-2 Total expenses$3,453,461
XI-3 Revenue less expenses−$568,069
XI-4 Net assets at start of year$660,980
XI-8 Prior period adjustments−$84,115
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,796

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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