The V Foundation

Nonprofit profile at a glance

EIN
133705951
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cary, NC, USA
Phone
9193809505
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$61,639,637
Expenses
$70,594,561
Assets
$145,853,123
Liabilities
$85,546,961

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

Leadership & pay

59 people listed

Executive titles in this filing

  • CLARK KINLIN (DIRECTOR/INTERIM CEO FR: 7/25)
  • NICHOLAS P VALVANO (PRESIDENT EMERITUS)
  • SHANE JACOBSON (CHIEF EXECUTIVE OFFICER THR: 8/25)
  • KARA COLEMAN (VICE PRESIDENT, RESEARCH AND GRANTS)
  • PHILIP PILEWSKI (VICE PRESIDENT, PRINCIPAL GIFTS)
  • CARRIE THOMAS (SR. VICE PRESIDENT, PARTNERSHIP)

Highest reported compensation

  • SHANE JACOBSON (CHIEF EXECUTIVE OFFICER THR: 8/25): $632,277 total reported compensation
  • SUSANNA GREER (CHIEF SCIENTIFIC OFFICER): $356,615 total reported compensation
  • LAUREN HALL (CHIEF DEVELOPMENT OFFICER THR: 12/24): $336,031 total reported compensation

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

Overview

Mission

We fund game-changing research and all-star scientists to accelerate victory over cancer and save lives.

What it reported doing in 2024

In fy 2025, the foundation awarded 37 v scholar grants to identify, retain and further the careers of talented young investigators, 17 grants in translational clinical research, 11 game-changer (designated) grants inspired by particular areas of scientific interest and/or geographic reach, 22 all-star grants to reinvest in previous v scholar or translational grant recipients, and 2 misson grants supporting educational projects to advance research processes. These grants were awards to researchers at leading institutions across 27 states and canada. The v foundation ensures that resources reach the best and most promising cancer researchers and projects. We assure donors that they are making a sound investment because we take a strategic approach to our funding. We focus on emerging, high-impact opportunities and address critical knowledge gaps in science. We realize that, for someone at risk of cancer or already being treated for it, time is critical. There is not a moment to lose.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 97% 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 99
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.6%; rating input score 100
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: $11.53 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • 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: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.6%; rating input score 98; 53rd 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: -14.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 2.07; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 9.5% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 99.6% of revenue deployed · 86% of spending went to programs
  • Governance: 41 of 42 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $60.7M in reported program spending
  • Leadership: top reported pay $632K · 59 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $355K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 65 filed money-flow records
  • Related organizations: 54 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 — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.