Form 990 for tax year 2023
Filed by FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND.
Totals
- Total revenue
- $8,751,135
- Total expenses
- $1,309,685
- Contributions and grants received
- $8,307,442
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $443,693
- Other revenue
- $0
- Total assets, end of year
- $52,460,807
- Total liabilities, end of year
- $85,288
- Net assets or fund balances, end of year
- $52,375,519
- Program services expenses (Part IX)
- $1,273,456
- Management and general expenses
- $36,229
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,273,456
Program services were 97.2% 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.
-
1d · Related organizations
$8,307,442
-
3 · Investment income
total $283,756 · excluded $283,756
-
7a · Gross sales of assets other than inventory
securities $159,937
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $159,937
-
7d · Net gain or loss
total $159,937 · excluded $159,937
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $641,421 · program services $641,421
-
7 · Other salaries and wages
total $290,912 · program services $290,912
-
8 · Pension plan contributions
total $42,047 · program services $42,047
-
9 · Other employee benefits
total $94,133 · program services $94,133
-
10 · Payroll taxes
total $50,453 · program services $50,453
-
11a · Fees: management
total $3,120 · management and general $3,120
-
11b · Fees: legal
total $44,882 · program services $41,078 · management and general $3,804
-
11c · Fees: accounting
total $28,023 · management and general $28,023
-
13 · Office expenses
total $5,772 · program services $5,772
-
16 · Occupancy
total $22,221 · program services $22,221
-
17 · Travel
total $51,616 · program services $51,616
-
19 · Conferences, conventions and meetings
total $26,699 · program services $26,699
-
24a · Other expenses: PRINTING & SUBSCRIPTION
total $8,386 · program services $7,104 · management and general $1,282
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $313,572 · end of year $123,509
-
7 · Other notes and loans receivable
beginning of year $1,965,012 · end of year $3,250,000
-
9 · Prepaid expenses and deferred charges
beginning of year $6,199 · end of year $750
-
13 · Investments: program-related
beginning of year $37,780,078 · end of year $42,666,783
-
15 · Other assets
beginning of year $7,238,206 · end of year $6,419,765
-
17 · Accounts payable and accrued expenses
beginning of year $65,457 · end of year $85,288
-
27 · Net assets without donor restrictions
beginning of year $47,237,610 · end of year $52,375,519
Mission and programs · 2023
Mission
THE FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND'S MISSION IS TO ACCELERATE THE TRANSLATION OF RETINAL LABORATORY-BASED RESEARCH INTO CLINICAL TRIALS TO EXPEDITE THE COMMERCIALIZATION OF PATIENT THERAPIES.
-
THE THREE LARGEST PROGRAM SERVICES ACCOMPLISHMENTS (AS MEASURED BY INVESTMENT SIZE) FOR THE FOUNDATION FIGHTING BLINDNESS RETINAL DEGENERATION FUND (FFB-RDF) DURING FISCAL YEAR 2024 WERE EQUITY INVESTMENTS IN OPUS GENETICS, OSANNI BIO, AND ATSENA THERAPEUTICS. OPUS GENETICS, ATSENA THERAPEUTICS AND OSANNI BIO ARE ALL CLINICALLY STAGED THERAPY COMPANIES. EACH OF THESE COMPANIES IS FOCUSED ON ADVANCING PROMISING THERAPIES FOR RETINAL DEGENERATIVE DISEASES.FISCAL 2024 SUMMARY:FFB-RDF INVESTED AN ADDITIONAL $1,449,835 IN OPUS GENETICS TO HELP ADVANCE ITS PIPELINE OF ORPHAN INHERITED RETINAL DISEASE GENE THERAPY INDICATIONS INCLUDING LCA5, BEST1, RHO, RDH12 AND MERTK. THE FIRST PATIENT WAS DOSED IN THE LCA5 PHASE I/II CLINICAL TRIAL IN AUGUST 2023. FFB-RDF INVESTED $2,807,443 IN ATSENA THERAPEUTICS TO SUPPORT THE ADVANCEMENT OF TWO CLINICALLY STAGED GENE THERAPY ASSETS FOR LCA1 AND XLRS, AND THE PRECLINICAL DEVELOPMENT OF GENE THERAPY ASSETS TOWARDS USH1B AND STARGARDT'S DISEASE. FFB-RDF INVESTED $3,000,000 IN OSANNI BIO TO SUPPORT THE ADVANCEMENT OF TWO CLINICALLY STAGED ASSETS AIMED AT REDUCING DRUSEN IN DRY AGE-RELATED MACULAR DEGENERATION AND GEOGRAPHIC ATROPHY.
Expenses $1,273,456
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
MARK BLUMENKRANZ MD MMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAVID BRINT
EX OFFICIO DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 10 related
-
WARREN THALER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JOSE-ALAIN SAHEL MD
DIRECTOR
- Total calculated
- $15,000
- From this org
- $0
- From related orgs
- $15,000
- Other
- $0
- Hours/week
- 1 + 1 related
-
ADRIENNE GRAVES PHD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
KELLY LISBAKKEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JACQUE DUNCAN MD
DIRECTOR
- Total calculated
- $75,000
- From this org
- $0
- From related orgs
- $75,000
- Other
- $0
- Hours/week
- 1 + 5 related
-
JONATHAN STEINBERG MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
TONY ADAMIS MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JEAN BENNETT MD PHD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CATHERINE BOWES RICKMAN PHD
DIRECTOR
- Total calculated
- $15,000
- From this org
- $0
- From related orgs
- $15,000
- Other
- $0
- Hours/week
- 1 + 1 related
-
JASON D MENZO
CEO
- Total calculated
- $588,996
- From this org
- $104,122
- From related orgs
- $416,489
- Other
- $68,385
- Hours/week
- 8 + 32 related
Schedule J breakdown matched by us
- Base
- $84,139 + $336,556 related
- Bonus
- $19,911 + $79,645 related
- Other
- $72 + $288 related
- Deferred
- $3,664 + $14,656 related
- Nontaxable benefits
- $10,013 + $40,052 related
- Filer's total
- $117,799 + $471,197 related
-
RUSSELL W KELLEY
MANAGING DIRECTOR, RD FUND
- Total calculated
- $412,493
- From this org
- $347,534
- From related orgs
- $0
- Other
- $64,959
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $296,734
- Bonus
- $50,248
- Other
- $552
- Deferred
- $18,571
- Nontaxable benefits
- $46,388
- Filer's total
- $412,493
-
PETER GINSBERG
COO
- Total calculated
- $425,796
- From this org
- $72,505
- From related orgs
- $290,019
- Other
- $63,272
- Hours/week
- 8 + 32 related
Schedule J breakdown matched by us
- Base
- $63,310 + $253,239 related
- Bonus
- $8,989 + $35,954 related
- Other
- $206 + $826 related
- Deferred
- $3,725 + $14,901 related
- Nontaxable benefits
- $8,929 + $35,717 related
- Filer's total
- $85,159 + $340,637 related
-
ALICIA KEMBLE
SENIOR VENTURE ASSOCIATE
- Total calculated
- $157,301
- From this org
- $135,548
- From related orgs
- $0
- Other
- $21,753
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,478
- Bonus
- $0
- Other
- $70
- Deferred
- $6,450
- Nontaxable benefits
- $15,303
- Filer's total
- $157,301
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
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- FFB EMPLOYEES PARTICIPATE IN AN ANNUAL INCENTIVE PLAN. THE PLAN PROVIDES AN ANNUAL CASH BONUS DEPENDING UPON THE ACHIEVEMENT OF PRE-DETERMINED ORGANIZATION AND INDIVIDUAL PERFORMANCE CRITERIA.
- SCHEDULE J, PART I, LINE 3:
- THE FOUNDATION FIGHTING BLINDNESS, INC., A RELATED ORGANIZATION, ESTABLISHES THE COMPENSATION FOR THE ORGANIZATION'S EMPLOYEES. THE FOUNDATION FIGHTING BLINDNESS, INC. USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, 990 OF OTHER ORGANIZATIONS, A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
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.
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.
-
THE FOUNDATION FIGHTING BLINDNESS INC
501(C)(3) · RESEARCH · MD
-
MACULAR DEGENERATION INTERNATIONAL INC
501(C)(3) · FUNDRAISING · IL
Directly controlled by FOUNDATION FIGHTING BLINDNESS INC
-
NATIONAL RETINITIS PIGMENTOSA FOUNDATION
501(C)(3) · FUNDRAISING · MD
Directly controlled by FOUNDATION FIGHTING BLINDNESS INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433129349301008
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