Clayton Medical Research Foundation Inc

Nonprofit profile at a glance

EIN
510306704
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Carson City, NV, USA
Phone
7753293111
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$5,236,838
Expenses
$3,126,466
Assets
$100,006,501
Liabilities
$2,464,588

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Robert M Wallace (Trustee, President)
  • Jarred W Sloan (Trustee, Vice President, Treasurer)
  • John Russell Beekman (Vice President)
  • Christopher MacKenzie (Vice President, Secretary)

Highest reported compensation

  • Robert M Wallace (Trustee, President): $785,428 total reported compensation
  • Jarred W Sloan (Trustee, Vice President, Treasurer): $785,428 total reported compensation
  • Lynn P Carter (Trustee): $785,428 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

As a supporting organization to the Clayton Foundation for Research (Clayton) the Foundation's primary mission is to fund medical research for the purpose of discovering the cause, prevention and cure of diseases for the benefit of mankind. The secondary mission is to transfer the resulting medical research discoveries from the laboratory to the use of the general public by patenting and licensing such technology for development into drugs or other products for the use and benefit of mankind through Clayton's other supporting entities.

What it reported doing in 2024

The Novel Biologically Active Peptides and Small Proteins grant to the Salk Institute for Biological Studies funds research. The overreaching hypothesis of this project is that novel drug targets exist among the thousands of newly discovered microproteins. The list includes uncharacterized secreted bioactive peptides and small proteins. In the past two years the focus has shifted from intracellular microproteins to uncharacterized secreted bioactive peptides because they are similar to peptide hormones and neuropeptides, which have proven expellant drug targets. Consequently, this project has three aims: the deep characterization of C4ORF48 in neurobiology and Alzheimer's disease (Aim 1), the role of augurin in metabolic health and cancer (Aim 2), and the continued identification of novel peptides to feed into this pipeline (Aim 3). As part of these broader efforts, tools have been developed for this project, such as ShortStop, to find and characterize these novel bioactive peptides.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 42
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 40.3%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 31.99; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 20.2%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 22.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.7% of spending went to programs
  • Governance: 0 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $785K · 8 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $173K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.