Heme Foundation

Nonprofit profile at a glance

EIN
852693882
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Walnutport, PA, USA
Phone
6103902199
Rating
62
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Medical Research N.E.C.

Reported finances

Revenue
$342,296
Expenses
$467,314
Assets
$288,402
Liabilities
$2,546

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

Leadership & pay

4 people listed

Highest reported compensation

  • JONATHAN BARKMAN (BOARD CHAIR): $134,008 total reported compensation

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

Overview

Mission

Develop a drug that acts as a blood substitute oxygenation drug readily available in unlimited supply.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - 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: 34
  • Transparency & Controls: 100
  • Accountability: 79
  • Sustainability: 19
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.9%; rating input score 37
  • Program expense ratio: 38.5%; rating input score 38
  • Fundraising efficiency: $2.1 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -36.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.62; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 28.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 191.7% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -124.6% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -45.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 36.9% of revenue deployed · 38.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $180K in reported program spending
  • Leadership: top reported pay $134K · 4 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 37/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.