La Jolla Cardiovascular Research Foundation C/o Jeffrey Cavendish Md

Nonprofit profile at a glance

EIN
954488794
IRS 990-EZ coverage
2012–2014
Forms available
Form 990-EZ 2014
Location
La Jolla, CA, USA
Phone
7605792744
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Surgical Specialties Research

Reported finances

Revenue
$-462
Expenses
$8,935
Assets
$114,688
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JEFFREY CAVENDISH MD (PRESIDENT/DIRECTOR)

People named in this filing

  • JEFFREY CAVENDISH MD (PRESIDENT/DIRECTOR)
  • JASON BROWN MD (CFO/DIRECTOR)
  • SHARON WEAVER (SECRETARY/DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization was formed to conduct scientific research into the causes and treatment of cardiac and cardiovascular conditions and diseases.

What it reported doing in 2014

The organization is engaged in clinical research projects regarding minimally invasive cardiovascular procedures using experimental techniques and devices to mitigate cardiovascular disease. Human subjects are qualified and give approval according to health care financing administration (hcfa) regulations. The organization receives clinical protocol reimbursement from medical equipment and pharmaceutical companies. The results of the research are concurrently forwarded to hcfa and the appropriate medical equipment or pharmaceutical company. The fda has approved the medical investigation trials and the results of the research are necessary for review and approval by the fda, for purposes of obtaining fda approval of reimbursement of such procedures under medicare. Expenses are minimal. All funds are directed back into providing medical education or purchasing equipment which is used by investigators. One of the current research projects will study approximately 1,000 subjects.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 88% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 82
  • Sustainability: 44
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 12.7%; rating input score 13

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -2,034%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 12.84; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -77.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -143.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -12.6% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 12.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2012 to 2014
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Program expense ratio scored 13/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.