Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,284,439

• 1f · All other contributions, gifts and grants

  $388,602

• 2a · Program service revenue: RESEARCH

  total $764,385 · related or exempt $764,385

• 2b · Program service revenue: EDUCATION

  total $68,782 · related or exempt $68,782

• 3 · Investment income

  total $56,044 · excluded $56,044

• 6a · Gross rents

  real property $2,202

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $2,202

• 6d · Net rental income or loss

  total $2,202 · excluded $2,202

• 11a · Other revenue: CONSULTING REVENUE

  total $42,977 · related or exempt $42,977

• 11b · Other revenue: PASS-THROUGH INCOME

  total $28,942 · related or exempt $28,942

• 11c · Other revenue: OTHER INCOME

  total $6,307 · related or exempt $6,307

• 11e · Other revenue, total

  $78,226

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $540,631 · program services $293,071 · management and general $247,560

• 7 · Other salaries and wages

  total $836,983 · program services $452,247 · management and general $384,736

• 9 · Other employee benefits

  total $158,554 · program services $95,924 · management and general $62,630

• 11b · Fees: legal

  total $13,560 · program services $11,602 · management and general $1,958

• 11c · Fees: accounting

  total $96,212 · program services $82,320 · management and general $13,892

• 12 · Advertising and promotion

  total $1,477 · program services $1,027 · management and general $450

• 13 · Office expenses

  total $1,085 · program services $247 · management and general $838

• 16 · Occupancy

  total $214,573 · management and general $214,573

• 17 · Travel

  total $83,990 · program services $79,785 · management and general $4,205

• 22 · Depreciation, depletion and amortization

  total $267,794 · management and general $267,794

• 23 · Insurance

  total $49,504 · program services $3,320 · management and general $46,184

• 24a · Other expenses: PURCHASED CONTRACTOR SE

  total $631,402 · program services $631,402

• 24b · Other expenses: MEDICAL SUPPLIES

  total $285,818 · program services $285,818

• 24c · Other expenses: EDUCATION AND TRAINING

  total $262,217 · program services $154,616 · management and general $107,601

• 24d · Other expenses: OTHER EXPENSES

  total $198,955 · program services $128,977 · management and general $69,978

• 24e · All other expenses

  total $119,407 · program services $108,151 · management and general $11,256

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,160,806 · end of year $1,293,494

• 4 · Accounts receivable

  beginning of year $605,452 · end of year $687,624

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $677

• 9 · Prepaid expenses and deferred charges

  beginning of year $31,702 · end of year $149,235

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

  $3,079,917

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

  $1,347,464

• 10c · Land, buildings and equipment, net

  beginning of year $1,206,677 · end of year $1,732,453

• 17 · Accounts payable and accrued expenses

  beginning of year $455,875 · end of year $354,098

• 19 · Deferred revenue

  beginning of year $3,860 · end of year $48,124

• 25 · Other liabilities

  beginning of year $195,050 · end of year $230,891

• 27 · Net assets without donor restrictions

  beginning of year $1,774,063 · end of year $2,923,569

• 28 · Net assets with donor restrictions

  beginning of year $575,789 · end of year $306,801

The filer's explanations (Part III)

PART I, LINE 5

EXECUTIVE INCENTIVE PROGRAM ("EIP") BONUS. EMPLOYEE SHALL BE ENTITLED TO PARTICIPATE IN THE EIP BONUS INCENTIVE PROGRAM EACH CALENDAR YEAR. THE BONUS TARGET GOAL WILL BE UP TO 20% OF EMPLOYEE'S THEN-CURRENT BASE SALARY, AND WILL BE BASED ON PERSONAL AND ORGANIZATIONAL PERFORMANCE OBJECTIVES ESTABLISHED AT THE BEGINNING OF EACH CALENDAR YEAR BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS SHALL PROVIDE EMPLOYEE WITH NOTICE, NO LESS FREQUENTLY THAN QUARTERLY, IF EMPLOYEE IS NOT ACHIEVING THE PERFORMANCE OBJECTIVES ESTABLISHED BY IT. IT IS THE INTENT OF THE PARTIES THAT EMPLOYEE SHALL BE ENTITLED TO NOTICE OF ANY PERCEIVED DEFICIENCY IN ACHIEVING SUCH PERFORMANCE OBJECTIVES SO THAT EMPLOYEE SHALL HAVE THE OPPORTUNITY TO CURE SUCH A DEFICIENCY PRIOR TO THE END OF THE CALENDAR YEAR. IN THE ABSENCE OF ANY SUCH NOTICE, EMPLOYEE SHALL BE DEEMED TO HAVE SATISFIED THE PERFORMANCE OBJECTIVES ESTABLISHED BY THE BOARD OF DIRECTORS. AREF SHALL PAY EMPLOYEE ANY EIP BONUS EARNED BY HIM WITHIN 30 DAYS OF THE END EACH CALENDAR YEAR. IN ADDITION, EMPLOYEE SHALL BE ENTITLED TO A EIP BONUS TO BE AWARDED AT THE DISCRETION OF THE BOARD OF DIRECTORS. IN ORDER TO RECEIVE THE BONUS PAYMENT, EMPLOYEE MUST BE ACTIVELY EMPLOYED WITH AREF ON THE DATE THE BONUS IS PAID. BONUS ON FUNDS RAISED, AREF WILL PAY EMPLOYEE A BONUS FOR FUNDS RAISED FOR AREF IN ACCORDANCE WITH THIS PARAGRAPH 3 ("FUNDRAISING BONUS"). FOR EACH CALENDAR YEAR, THE FUNDRAISING BONUS SHALL EQUAL THE PRODUCT OF (I) $5,000 AND (II) THE QUOTIENT (ROUNDED TO THE LOWEST WHOLE NUMBER) OF (A) THE AGGREGATE FAIR MARKET VALUE OF THE MONEY AND PROPERTY RECEIVED BY AREF DURING SUCH CALENDAR YEAR ("ANNUAL RECEIPTS") DIVIDED BY (B) $250,000. FOR EXAMPLE, IF THE ANNUAL RECEIPTS ARE $2,400,000, EMPLOYEE'S FUNDRAISING BONUS FOR THAT YEAR WOULD BE $45,000, DETERMINED AS FOLLOWS: $5,000 X 9 (2,400,000/250,000). FOR PURPOSES OF THIS AGREEMENT, ANNUAL RECEIPTS SHALL ONLY INCLUDE GIFTS, GRANTS AND OTHER SIMILAR GRATUITOUS TRANSFERS AND SHALL NOT INCLUDE RECEIPTS FROM THE SALE OR EXCHANGE OF ANY OF AREF'S PROPERTY OR SERVICES. FURTHERMORE, ANNUAL RECEIPTS SHALL BE REDUCED BY THE AMOUNT OF COSTS INCURRED BY AREF EXCLUSIVELY RELATED TO THE PROCUREMENT OF ANY SUCH MONEY OR PROPERTY, E.G., PAYMENT OF A FEE TO AN OUTSIDE FUNDRAISER. FOR THE AVOIDANCE OF DOUBT, AREF SHALL NOT PAY EMPLOYEE ANY FUNDS CONSTITUTING PAID OF THE ANNUAL RECEIPTS TO THE EXTENT THAT SUCH FUNDS ARE PROHIBITED BY THE GRANTOR, E.G., IN LEGISLATIVE APPROPRIATIONS, FROM BEING USED FOR SUCH COMPENSATION, AND AREF SHALL PAY EMPLOYEE THE FULL AMOUNT OF EACH FUNDRAISING BONUS FROM ANY OTHER FUNDS THAT ARE NOT RESTRICTED, REGARDLESS OF WHETHER THEY CONSTITUTE PART OF THE ANNUAL RECEIPTS. AREF SHALL PAY EMPLOYEE THE FUNDRAISING BONUS WITHIN 30 DAYS OF THE END OF EACH CALENDAR YEAR.