NFX

Nonprofit profile at a glance

EIN
821672519
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3133733977
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$6,883,911
Expenses
$15,111,434
Assets
$10,349,543
Liabilities
$233,022

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JENNIFER GILBERT (PRESIDENT)

People named in this filing

  • JENNIFER GILBERT (PRESIDENT)
  • MATTHEW RIZIK (TREASURER & SECRETARY)
  • JEFFREY MORGANROTH (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization follows the mission as set forth in its articles of incorporation. It has not yet adopted a separate mission statement.

What it reported doing in 2024

Nfx (formerly nf forward) was created in 2017 to advance research toward a cure for neurofibromatosis. Nfx's annual fundraising event was held and these funds were used to support research activities.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 75
  • Accountability: 88
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 43rd percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -119.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 26.6% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 13.3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $15M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 3 contractors listed · $1.4M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 21 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.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.