Clinical Research Foundation

Nonprofit profile at a glance

EIN
611144514
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Louisville, KY, USA
Phone
5026814146
Rating
58
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$499,292
Expenses
$337,354
Assets
$664,236
Liabilities
$218,610

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • Michael Book PhD (Executive Dir.): $64,151 total reported compensation
  • Greg Bethards (Director): $1,300 total reported compensation
  • Mark Oliges (Director): $1,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Clinical Research Foundation, Inc. CRF promotes quality scientific research to improve the medical treatment, general health, and quality of life for our nation's veterans by providing a flexible funding mechanism to Robley Rex VA Medical Center researchers for non-VA funded studies or trials

What it reported doing in 2025

Hired our first full-time employee. The position is a Post Awards Administrator to oversee the project management and post-awards processes of each study and grant. Additionally, we generated the largest philanthropic donation in Foundation history. Finally, we received approval to use Greenphire to improve the facilitation of patient stipends and travel reimbursement.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 90
  • Accountability: 23
  • Sustainability: 59
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.3%; rating input score 57
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32.4%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 19.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 57.3% of revenue deployed · 83.1% of spending went to programs
  • Governance: 0 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $280K in reported program spending
  • Leadership: top reported pay $64K · 9 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.