Cohen Veterans Bioscience Inc

Nonprofit profile at a glance

EIN
471981973
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Pittsfield, MA, USA
Phone
8886277345
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Nursing Services (General)

Official website

Reported finances

Revenue
$3,369,809
Expenses
$1,377,761
Assets
$1,835,419
Liabilities
$98,368

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MAGALI HAAS MD PHD (BOARD CHAIR & FORMER CEO)
  • PETER HOEHN (FORMER CEO)
  • NICOLE HARMON (FORMER PRESIDENT)
  • MARYAN ZIRKLE (FORMER EXECUTIVE DIRECTOR,)

Highest reported compensation

  • MAGALI HAAS MD PHD (BOARD CHAIR & FORMER CEO): $805,950 total reported compensation
  • ALLYSON GAGE PHD (FORMER CHIEF MEDICAL OFFIC): $462,239 total reported compensation
  • LEE LANCASHIRE (FORMER CHIEF INFORMATION O): $448,469 total reported compensation

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

Overview

Mission

Cohen veterans bioscience, inc. ("cvb") is a non-profit 501(c)(3) biomedical research and technology organization dedicated to advancing brain health by fast-tracking precision diagnostics and tailored therapeutics.

What it reported doing in 2024

Cvb's board of directors voted for an orderly wind down of operations effective may 17, 2024. December 31, 2024 was the final day of continuing operations. Subsequent to this date, the organization does not anticipate any additional revenue, and costs will largely be related to the dissolution process and efforts to transfer the intellectual property and research to other charitable organizations. The organization has sufficient resources to cover all anticipated costs through dissolution.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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 and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 79
  • Accountability: 76
  • Sustainability: 66
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.4%; rating input score 49
  • Program expense ratio: 36.7%; rating input score 37
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 59.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 1.33; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 278.6%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -6.4% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -3.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -6.6% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 49.4% of revenue deployed · 36.7% of spending went to programs
  • Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $506K in reported program spending
  • Leadership: top reported pay $806K · 14 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $965K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 37/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.