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Nonprofiteer
← N-LOREM FOUNDATION

Form 990 for tax year 2025

Filed by N-LOREM FOUNDATION.

Totals

Total revenue
$30,807,703
Total expenses
$18,339,178
Contributions and grants received
$30,574,294
Grants paid
$0
Program service revenue
$0
Investment income
$233,409
Other revenue
$0
Total assets, end of year
$22,298,749
Total liabilities, end of year
$3,196,035
Net assets or fund balances, end of year
$19,102,714
Program services expenses (Part IX)
$16,488,232
Management and general expenses
$1,282,507
Fundraising expenses
$568,439
Program service expenses (Part III)
$16,488,232

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $30,574,294

  • 1g · Noncash contributions included above

    $1,171,095

  • 3 · Investment income

    total $233,409 · excluded $233,409

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $1,211,277 · program services $995,898 · management and general $136,677 · fundraising $78,702

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $4,568,176 · program services $3,763,876 · management and general $508,442 · fundraising $295,858

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $442,875 · program services $349,242 · management and general $63,072 · fundraising $30,561

  • 10 · Payroll taxes

    total $342,300 · program services $269,930 · management and general $48,749 · fundraising $23,621

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $322,056 · program services $249,082 · management and general $72,974

  • 11c · Fees: accounting

    total $177,929 · program services $137,612 · management and general $40,317

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $214,831 · program services $166,153 · management and general $48,678

  • 12 · Advertising and promotion

    total $10,468 · program services $2,617 · fundraising $7,851

  • 13 · Office expenses

    total $245,575 · program services $33,308 · management and general $209,612 · fundraising $2,655

  • 14 · Information technology

    total $175,968 · program services $158,371 · management and general $17,597

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $596,525 · program services $536,873 · management and general $59,652

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $185,315 · program services $13,595 · management and general $42,529 · fundraising $129,191

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $342,083 · program services $307,875 · management and general $34,208

  • 23 · Insurance

    total $0

  • 24a · Other expenses: RESEARCH & DEVELOPMENT

    total $9,503,800 · program services $9,503,800

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $143,013 · end of year $450,947

  • 2 · Savings and temporary cash investments

    beginning of year $5,085,312 · end of year $11,815,084

  • 3 · Pledges and grants receivable

    beginning of year $4,683,948 · end of year $8,133,170

  • 4 · Accounts receivable

    end of year $43,120

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $204,193 · end of year $248,521

  • 10a · Land, buildings and equipment: cost or other basis

    $1,782,889

  • 10b · Land, buildings and equipment: accumulated depreciation

    $979,095

  • 10c · Land, buildings and equipment, net

    beginning of year $977,184 · end of year $803,794

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $1,182,832 · end of year $804,113

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,906,718 · end of year $1,730,358

  • 19 · Deferred revenue

    beginning of year $2,525,455 · end of year $624,640

  • 25 · Other liabilities

    beginning of year $1,210,120 · end of year $841,037

  • 27 · Net assets without donor restrictions

    beginning of year $3,614,409 · end of year $11,941,916

  • 28 · Net assets with donor restrictions

    beginning of year $3,019,780 · end of year $7,160,798

Mission and programs · 2025

Mission

N-LOREM'S MISSION IS CREATING INDIVIDUAL TREATMENTS FOR PATIENTS IN THE UNITED STATES WITH NANO-RARE DISEASES CAUSED BY GENETIC MUTATIONS THAT AFFECT APPROXIMATELY 30 PATIENTS IN THE WORLD.

  • TO PROVIDE ADVANCED, EXPERIMENTAL RNA-TARGETED MEDICINES, FREE OF CHARGE FOR LIFE, TO PATIENTS LIVING WITH NANO-RARE DISEASES.

    Expenses $16,488,232

As filed on the 2025 return.

Listed in Part VII

  • Sarah Glass

    COO

    Total calculated
    $501,818
    From this org
    $487,199
    From related orgs
    $0
    Other
    $14,619
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $425,774
    Bonus
    $61,425
    Other
    not reported
    Deferred
    $14,619
    Nontaxable benefits
    not reported
    Filer's total
    $501,818
  • Julie Douville

    VP ASO Disc & Dev

    Total calculated
    $369,834
    From this org
    $353,113
    From related orgs
    $0
    Other
    $16,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $309,382
    Bonus
    $43,731
    Other
    not reported
    Deferred
    $10,593
    Nontaxable benefits
    $6,128
    Filer's total
    $369,834
  • Laury Mignon

    ExDir Clinical Dev

    Total calculated
    $364,874
    From this org
    $336,405
    From related orgs
    $0
    Other
    $28,469
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,942
    Bonus
    $45,463
    Other
    not reported
    Deferred
    $10,716
    Nontaxable benefits
    $17,753
    Filer's total
    $364,874
  • Amy Williford

    VP FDN DEVELOPMENT

    Total calculated
    $314,195
    From this org
    $295,060
    From related orgs
    $0
    Other
    $19,135
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,835
    Bonus
    $36,225
    Other
    not reported
    Deferred
    $8,984
    Nontaxable benefits
    $10,151
    Filer's total
    $314,195
  • Virginia Sankey

    VP of Finance

    Total calculated
    $302,680
    From this org
    $280,600
    From related orgs
    $0
    Other
    $22,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,012
    Bonus
    $27,588
    Other
    not reported
    Deferred
    $8,664
    Nontaxable benefits
    $13,416
    Filer's total
    $302,680
  • Kimberly Butler

    Sr. Dir. of Op

    Total calculated
    $300,529
    From this org
    $277,430
    From related orgs
    $0
    Other
    $23,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,205
    Bonus
    $37,225
    Other
    not reported
    Deferred
    $8,597
    Nontaxable benefits
    $14,502
    Filer's total
    $300,529
  • Megan Knutsen

    SR DIRECTOR

    Total calculated
    $262,733
    From this org
    $249,166
    From related orgs
    $0
    Other
    $13,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,018
    Bonus
    $31,148
    Other
    not reported
    Deferred
    $7,548
    Nontaxable benefits
    $6,019
    Filer's total
    $262,733
  • Konstantina Skourti-Stathaki

    Exec Dir ASO Disc

    Total calculated
    $243,586
    From this org
    $236,491
    From related orgs
    $0
    Other
    $7,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,428
    Bonus
    $28,063
    Other
    not reported
    Deferred
    $7,095
    Nontaxable benefits
    not reported
    Filer's total
    $243,586
  • Joseph Gleeson MD

    CMO

    Total calculated
    $106,250
    From this org
    $106,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    15
  • Stanley T Crooke MD PhD

    CHAIR/CEO

    Total calculated
    $0
    Hours/week
    0.15
  • Rosanne Crooke PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Lynne Parshall Esq

    Treasurer

    Total calculated
    $0
    Hours/week
    0.15
  • Richard S Geary PHD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • C Frank Bennett PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Gene Yeo PhD MBA

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Jason Wood

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Joseph Loscalzo PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Alan Lotvin MD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Andrew W Lo PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Amy McCooe

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Frank Sasinowski Ms MPH JD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Paul Compton

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Neil Shneider MD PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15
  • Michael Hayden Mbchb PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.15

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
3 June 2026
IRS schema version
2025v4.1
Source object
202621549349300207

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