FRAXA Research Foundation Inc

EIN: 043222167 501(c)(3) Medical Research

Newburyport, MA

Total Revenue
$2,293,199
Total Expenses
$1,433,380
Total Assets
$4,964,245
Net Assets
$4,951,475
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
MA
Principal Officer
Katherine N Clapp
Phone
9784621866
Tax Period
2024-01-01 to 2024-12-31

FRAXA Research Foundation Inc, founded in 1994, is a community nonprofit in the Medical Research sector that reported $2.3M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $860K, a strong 37% operating margin.

Mission

FRAXAs mission is to find effective treatments and ultimately a cure for Fragile X syndrome.

Program Service Accomplishments

Program 1
Expenses: $1,164,750 Revenue: $0

To raise funds for the direct funding of grant research for the purpose of finding treatment and cure for Fragile X.

Program 2
Expenses: $143,336 Revenue: $0

To fund programs for the purpose of educating the general public about Fragile X.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,070,470
Program Service Revenue $0
Investment Income $122,583
Other Revenue $100,146
TOTAL REVENUE $2,293,199

Expense Breakdown

Grants Paid $970,350
Salaries & Benefits $391,055
Fundraising Expenses $45,077
Program Expenses $1,308,086
Other Expenses $71,975
TOTAL EXPENSES $1,433,380

Year-over-Year Comparison

2024 2023 Change
Revenue $2,293,199 $2,044,969 +0.1%
Expenses $1,433,380 $1,804,308 -0.2%
Net Income $859,819 $240,661 +2.6%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
9
Employees
3
Volunteers
93

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$304,465
Total Directors
11
$304,465
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Katherine Clapp President 40.00
Officer Director
$150,381 $6,698 $157,079
Deborah Stevenson Board Chair 10.00
Officer Director
$0 $0 $0
Michael Tranfaglia Medical Director/Treasurer/Secretary 40.00
Officer Director
$139,245 $8,141 $147,386
Dean Clark Director 10.00
Director
$0 $0 $0
Theodore Coutilish Director 10.00
Director
$0 $0 $0
Leslie Eddy Director 10.00
Director
$0 $0 $0
Andres Centellas Director 10.00
Director
$0 $0 $0
Jessica Haugen Director 10.00
Director
$0 $0 $0
James Vershbow Director 10.00
Director
$0 $0 $0
Ronald M Watkins Jr Director 10.00
Director
$0 $0 $0
Sasa Zorovic Director 10.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,293,199 $1,433,380 $4,964,245 $859,819
2023 $2,044,969 $1,804,308 $3,961,307 $240,661
2022 $2,018,041 $1,898,116 $3,531,781 $119,925
2021 $2,070,308 $1,387,708 $3,915,887 $682,600
2020 $1,385,133 $885,883 $3,218,818 $499,250
2019 $1,351,927 $1,289,521 $2,468,935 $62,406
2018 $1,844,655 $1,516,705 $2,422,802 $327,950
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