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Nonprofiteer
← CYSTIC FIBROSIS FOUNDATION

Form 990 for tax year 2024

Filed by CYSTIC FIBROSIS FOUNDATION.

Totals

Total revenue
$355,798,320
Total expenses
$439,138,919
Contributions and grants received
$95,892,260
Grants paid
$202,017,166
Program service revenue
$3,272,736
Investment income
$231,324,892
Other revenue
$25,308,432
Total assets, end of year
$4,986,222,387
Total liabilities, end of year
$292,597,881
Net assets or fund balances, end of year
$4,693,624,506
Program services expenses (Part IX)
$346,709,365
Management and general expenses
$57,319,385
Fundraising expenses
$35,110,169
Program service expenses (Part III)
$346,709,366

Program services were 79.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MICHAEL P BOYLE MD

    PRESIDENT & CEO

    Total calculated
    $1,275,151
    From this org
    $1,054,388
    From related orgs
    $0
    Other
    $220,763
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $721,173
    Bonus
    $311,579
    Other
    $21,636
    Deferred
    $163,962
    Nontaxable benefits
    $56,801
    Filer's total
    $1,275,151

  • CAROLE B GRIEGO MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • DAVID A MOUNT

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • DODZIE SOGAH PHD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • DOMINIC J CARUSO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • ELISE EBERWEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • ERIC R OLSON PHD

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • ERIC SCHNEIDER MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • JESSICA H BOYD MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • JOHN S WEINBERG

    EXECUTIVE VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • KATE O'DONNELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • KC BRYAN WHITE

    CHAIR

    Total calculated
    $0
    Hours/week
    8

  • LOUIS A DEFALCO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • PAUL A MOTENKO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • ROBERT H NIEHAUS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • STEVEN SHAK MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • TERESA L ELDER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • IRENA BARISIC

    EVP & CHIEF OPERATING & FINANCIAL OFFICER

    Total calculated
    $844,555
    From this org
    $761,939
    From related orgs
    $0
    Other
    $82,616
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $610,580
    Bonus
    $150,219
    Other
    $1,140
    Deferred
    $80,370
    Nontaxable benefits
    $2,246
    Filer's total
    $844,555

  • MICHAEL B CAVADEL

    SVP, CHIEF LEGAL OFFICER

    Total calculated
    $661,197
    From this org
    $558,135
    From related orgs
    $0
    Other
    $103,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $470,090
    Bonus
    $86,964
    Other
    $1,081
    Deferred
    $65,989
    Nontaxable benefits
    $37,073
    Filer's total
    $661,197

  • ALBERT FARO MD

    Chief Medical Officer Beg. 7/1/2024

    Total calculated
    $671,590
    From this org
    $571,672
    From related orgs
    $0
    Other
    $99,918
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $480,427
    Bonus
    $83,943
    Other
    $7,302
    Deferred
    $37,474
    Nontaxable benefits
    $62,444
    Filer's total
    $671,590

  • BRUCE MARSHALL MD

    Chief Medical Officer Ending 7/1/2024

    Total calculated
    $550,128
    From this org
    $515,472
    From related orgs
    $0
    Other
    $34,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $359,859
    Bonus
    $150,051
    Other
    $5,562
    Deferred
    $34,656
    Nontaxable benefits
    $0
    Filer's total
    $550,128

  • JOHN C MAHLER JR MD

    CHIEF INVESTMENT OFFICER

    Total calculated
    $1,942,627
    From this org
    $1,866,868
    From related orgs
    $0
    Other
    $75,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $766,301
    Bonus
    $1,091,398
    Other
    $9,169
    Deferred
    $34,656
    Nontaxable benefits
    $41,103
    Filer's total
    $1,942,627

  • JOHN P CLANCY MD

    SVP, CLINICAL RESEARCH

    Total calculated
    $765,204
    From this org
    $669,826
    From related orgs
    $0
    Other
    $95,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $523,667
    Bonus
    $138,635
    Other
    $7,524
    Deferred
    $41,817
    Nontaxable benefits
    $53,561
    Filer's total
    $765,204

  • STEVEn ROWE MD

    EVP, Chief Scientific Officer

    Total calculated
    $667,206
    From this org
    $534,655
    From related orgs
    $0
    Other
    $132,551
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $438,558
    Bonus
    $93,679
    Other
    $2,418
    Deferred
    $78,210
    Nontaxable benefits
    $54,341
    Filer's total
    $667,206

  • ANDREW LEWIS

    MANAGING DIRECTOR, INVESTMENTS

    Total calculated
    $1,401,714
    From this org
    $1,363,454
    From related orgs
    $0
    Other
    $38,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $469,402
    Bonus
    $891,950
    Other
    $2,102
    Deferred
    $20,856
    Nontaxable benefits
    $17,404
    Filer's total
    $1,401,714

  • EARL A LEE

    MANAGING DIRECTOR, INVESTMENTS

    Total calculated
    $1,594,752
    From this org
    $1,226,269
    From related orgs
    $0
    Other
    $368,483
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $665,920
    Bonus
    $558,525
    Other
    $1,824
    Deferred
    $349,255
    Nontaxable benefits
    $19,228
    Filer's total
    $1,594,752

  • ENRIQUE LIN SHIAO PHD

    Principal of Mission Related Investments

    Total calculated
    $589,642
    From this org
    $507,691
    From related orgs
    $0
    Other
    $81,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,850
    Bonus
    $265,203
    Other
    $638
    Deferred
    $34,656
    Nontaxable benefits
    $47,295
    Filer's total
    $589,642

  • ERIC KOEHRSEN

    MANAGING DIRECTOR, INVESTMENTS

    Total calculated
    $1,280,707
    From this org
    $976,105
    From related orgs
    $0
    Other
    $304,602
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $600,659
    Bonus
    $374,293
    Other
    $1,153
    Deferred
    $248,801
    Nontaxable benefits
    $55,801
    Filer's total
    $1,280,707

  • GENTIANA S AROVAS

    MANAGING DIRECTOR, INVESTMENTS OPERATIONS

    Total calculated
    $819,659
    From this org
    $642,532
    From related orgs
    $0
    Other
    $177,127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $478,673
    Bonus
    $161,598
    Other
    $2,261
    Deferred
    $122,786
    Nontaxable benefits
    $54,341
    Filer's total
    $819,659

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE EXECUTIVE LISTED BELOW PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION PLAN, UNDER WHICH INTERESTS ARE FORFEITED BY THE PARTICIPANT IF THE PARTICIPANT VOLUNTARILY TERMINATES EMPLOYMENT PRIOR TO THE DESIGNATED VESTING DATE. TOTAL PAYMENTS MADE BY THE PLAN TO THE EXECUTIVE DURING THE REPORTING YEAR IS PROVIDED BELOW: NAME: MICHAEL P. BOYLE, M.D. AMOUNT: $14,112
Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization
The CF Foundation Investments Department Incentive Compensation and Retention Plan provides annual cash incentives to the CIO and certain Investment department staff, based on both quantitative and qualitative performance. For eligible staff, a portion is deferred and vests after three years, accruing interest tied to portfolio returns during the deferral period. Awards may be forfeited or paid pro-rata upon death, disability, or separation from service.
Schedule J, Part I, Line 7 Non-fixed payments
SEVERAL INDIVIDUALS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A, PARTICIPATED IN THE CF FOUNDATION'S INCENTIVE COMPENSATION PLAN, FROM WHICH NON-FIXED PAYMENTS NOT DESCRIBED IN LINES 5 AND 6 WERE PAID. THE INCENTIVE COMPENSATION PLAN MAKES NON-FIXED PAYMENTS SUBJECT TO, AND BASED ON the achievement of long-term performance objectives established in ADVANCE BY THE COMPENSATION COMMITTEE OF THE CF FOUNDATION'S BOARD OF TRUSTEES. IN ADDITION, THE INCENTIVE COMPENSATION PLAN PAYS NON-FIXED PAYMENTS THAT RELATE TO A THREE-YEAR PERFORMANCE PERIOD, SUBJECT TO, AND BASED ON, ADVANCE BY THE COMPENSATION COMMITTEE OF THE BOARD. ANY FINANCIAL PLAN DO NOT INCLUDE PROGRAM RELATED REVENUES SUCH AS ROYALTY STREAMS OR LUMP-SUM PAYMENTS, RELATED TO THE DEVELOPMENT AND APPROVAL OF CF DRUGS.

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Oaktree QR CLV LP

    Investments · DE · income $251,866 · assets $13,751,866

    Directly controlled by Cystic Fibrosis Foundation

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (2)

    Trust · FIDUCIARY · CA

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST

    Trust · FIDUCIARY · TN

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST

    Trust · FIDUCIARY · NM

    Directly controlled by NA

  • PERPETUAL TRUST

    Trust · FIDUCIARY · MA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.1
Source object
202533189349311948

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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