Dana-farber Inc

Nonprofit profile at a glance

EIN
043102433
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Boston, MA, USA
Phone
6176323000
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$156,357,157
Expenses
$19,459,000
Assets
$3,554,753,508
Liabilities
$3,554,753,508

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Benjamin Ebert MD PhD (TRUSTEE, PRESIDENT, & CEO (AS OF 10/1/24))
  • Laurie H Glimcher MD (TRUSTEE & PRESIDENT (END 9/30/24))

Highest reported compensation

  • Laurie H Glimcher MD (TRUSTEE & PRESIDENT (END 9/30/24)): $2,679,650 total reported compensation
  • Michael L Reney (ASSISTANT TREASURER): $1,269,923 total reported compensation
  • Benjamin Ebert MD PhD (TRUSTEE, PRESIDENT, & CEO (AS OF 10/1/24)): $531,515 total reported compensation

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

Overview

Mission

The purpose and activities of dana-farber, inc. Are to promote and support the exempt missions of dana-farber cancer institute and to provide investment management services.

What it reported doing in 2024

Provides support to dana-farber cancer institute, inc. Through investment management services.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

SUPPORTED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 45
  • Accountability: 76
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.3%; rating input score 45
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 24th 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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 87.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 182.68; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 19.6% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 12.5% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 45.3% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $19.5M in reported program spending
  • Leadership: top reported pay $2.7M · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $12.8M reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.