The Multiple Myeloma Research Foundation Inc

Nonprofit profile at a glance

EIN
061504413
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-N 2013
Location
Norwalk, CT, USA
Phone
2032290464
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nerve, Muscle and Bone Diseases

Official website

Reported finances

Revenue
$36,523,356
Expenses
$34,651,131
Assets
$62,872,951
Liabilities
$14,844,396

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • MICHAEL ANDREINI (PRESIDENT & CEO)

Highest reported compensation

  • MICHAEL ANDREINI (PRESIDENT & CEO): $568,410 total reported compensation
  • GEORGE MULLIGAN (CHIEF SCIENTIFIC OFFICER): $435,441 total reported compensation
  • STEPHANIE OESTREICH (MANAGING DIRECTOR, MIF): $431,369 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2025

The multiple myeloma research consortium (mmrc), the clinical research subsidiary of the multiple myeloma research foundation (mmrf), is a collaborative network of leading cancer centers driving cutting-edge clinical trials. The mmrf launched the horizon clinical trials program through the mmrc to drive progress for patients who need it most. Horizon trials use an adaptive platform design that allows researchers to test several treatments at the same time and add new options as data becomes available. In 2025, the horizon one trial focused on relapsed/refractory myeloma exceeded many of its enrollment goals for its first treatment arm, which is testing dosing approaches for a bispecific antibody. The trial so far has enrolled more black patients and older adultstwo groups that have historically been left out of researchthan most myeloma trials. Horizon one became the first-ever myeloma clinical trial in flint, Michigan, and it opened at 25 community hospitals and clinics last year. Also in 2025, 13 sites entered the start-up phase in the horizon two clinical trial focused on high-risk, newly diagnosed myeloma so they could fully open and begin screening patients in 2026.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 87% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.7%; rating input score 76
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $4.36 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • 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: 99.9%; rating input score 100; 48th 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; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.81; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 75.7% of revenue deployed · 78.9% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $27.4M in reported program spending
  • Leadership: top reported pay $568K · 29 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $9.6M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Related organizations: 10 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.