Erasca Foundation

Nonprofit profile at a glance

EIN
871300086
IRS 990-PF coverage
2021–2024
Forms available
Form 990-PF 2024
Location
San Diego, CA, USA
Phone
4154217555
Rating
93
Verdict
STRONG
Rating confidence
Standard
Sector
Corporate Foundations

Reported finances

Revenue
$-1,196,203
Expenses
$140,452

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

Overview

Mission

Corporate Foundations

What it reported funding in 2024

The foundation reported 10 grants totaling $95,000. The stated grant purposes included "general operating support". this organization activates the financial and human capital of the life sciences industry and partners with nonprofits to disrupt the cycle of poverty in our communities. the organization envisions all of their neighbors having access to basic needs, access to education, and access to opportunities., "general operating support". the san diego coastkeeper protects and restores swimmable, drinkable, fishable waters in san diego county. it is a major force in transforming the san diego region into a leader in sustainable water management, supporting high biodiversity, resilient ecosystems, and thriving neighborhoods., and "general operating support." the organization applies ai to biomedical data to identify the most promising opportunities across all 22k diseases and 3k drugs - their ai platform can complete this work within days. they work with medical experts, physicians, drug companies, academics and patient advocacy groups to quantify the strength of evidence for every drug-disease match and prioritize those with highest potential to relieve suffering., plus 7 other reported purposes.

Operating model

Revenue model
Investment-supported. 100% of the foundation's positive operating resources came from recurring investment income.
Distribution model
Grant intermediary. The foundation distributed 68% of its reported charitable disbursements as grants.
  • Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.

The verdict

STRONG - A large share of available resources goes to charitable grants and the filing identifies who received its grants. The filing reports one or more activities that warrant closer review.

Rating breakdown

  • Grant Deployment: 100
  • Cost Efficiency: 68
  • Transparency: 100
  • Compliance: 98
  • Endowment Health: 96

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 100%; rating input score 100; 77th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 67.6%; rating input score 68; 22nd percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Part VII-B activity disclosures: 18 of 19 controls in place; rating input score 95
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Fail
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: Pass
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Grants to individuals: Pass
    • Grants to organizations: Pass
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 9; rating input score 100

Endowment Health

  • Endowment-health comparison: 121.71; rating input score 96; 96th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: At least 100% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 96th percentile for endowment coverage
  • Consistency: 9 of 9 current checks pass
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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.

  • Review — Compliance: Part VII-B activity disclosures: Goods, services, or facilities involving a disqualified person not reported.