The Ruth K Broad Biomedical Research Foundation

Nonprofit profile at a glance

EIN
650045051
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Durham, NC, USA
Phone
9196680882
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$879,876
Expenses
$905,476
Assets
$18,487,073
Liabilities
$0

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

Leadership & pay

20 people listed

Executive titles in this filing

  • DEBORAH BUSSEL (DIRECTOR/VICE PRESIDENT)
  • ERICA KITCHEN (PRESIDENT/EXECUTIVE DIRECTOR)

Highest reported compensation

  • RALPH SNYDERMAN MD (FORMER OFFICER): $1,522,657 total reported compensation
  • MOIRA RYNN MD (DIRECTOR): $825,433 total reported compensation
  • RICHARD J O'BRIEN MD (DIRECTOR): $786,615 total reported compensation

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

Overview

Mission

Support basic scientific research, education and dissemination of research findings in the neurosciences.

What it reported doing in 2024

In fy19, the board of the ruth k. Broad foundation approved a new award, the ann b. Bussel award. The foundation will be awarding a two-year grant, effective july 1, 2020 for $100,000 each year. The first award period began july 1, 2020. The purpose of this award is to improve our understanding of, and ability to treat, alzheimer's disease and preference is for research approaches that study humans to complement the ruth k. Broad foundation's existing, primary basic neuroscience, research grant programs. The grant will be awarded to faculty at duke. The faculty member has a collaborator at another institution, splitting the grant to co-fund the investigators at the two institutions will be considered.

Operating model

Revenue model
Investment-supported. 78% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 98% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 46
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 46.7%; rating input score 47; 11th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 20.42; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 75.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 15 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $905K in reported program spending
  • Leadership: top reported pay $1.5M · 20 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 55 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: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 47/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.