COMMONWEALTH FOUNDATION FOR CANCER RESEARCH

EIN: 043632101 501(c)(3) Medical Research

RICHMOND, VA

Total Revenue
$102,323,363
Total Expenses
$55,264,302
Total Assets
$81,899,492
Net Assets
$81,803,690
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
VA
Principal Officer
WILLIAM H GOODWIN JR
Phone
8046434200
Tax Period
2023-01-01 to 2023-12-31

COMMONWEALTH FOUNDATION FOR CANCER RESEARCH, founded in 2002, is a major nonprofit in the Medical Research sector that reported $102.3M in total revenue in fiscal year 2023. Revenue surged 103% from the prior year, signaling strong growth momentum. The organization ran a surplus of $47.1M, a strong 46% operating margin.

Mission

TO PROVIDE FUNDING FOR CANCER RESEARCH

Program Service Accomplishments

Program 1
Expenses: $55,023,640

THE CORPORATION IS AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE ORGANIZATION PROVIDES SUPPORT FOR IMPROVING CARE AND ADVANCING DISCOVERIES AND NEW...

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THE CORPORATION IS AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE ORGANIZATION PROVIDES SUPPORT FOR IMPROVING CARE AND ADVANCING DISCOVERIES AND NEW TECHNOLOGIES RELATING TO CANCER THROUGH CLINICAL STUDIES AND TRIALS.

Program 2
Expenses: $57,450

THE CORPORATION IS ORGANIZED AS A SUPPORTING ORGANIZATION FOR THE CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES OF THE COMMUNITY FOUNDATION, INC., AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE...

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THE CORPORATION IS ORGANIZED AS A SUPPORTING ORGANIZATION FOR THE CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES OF THE COMMUNITY FOUNDATION, INC., AN EXEMPT ORGANIZATION UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

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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 (2023)

Revenue Breakdown

Contributions & Grants $61,397,845
Program Service Revenue $0
Investment Income $40,921,074
Other Revenue $4,444
TOTAL REVENUE $102,323,363

Expense Breakdown

Grants Paid $55,081,090
Salaries & Benefits $40,000
Fundraising Expenses $0
Program Expenses $55,081,090
Other Expenses $143,212
TOTAL EXPENSES $55,264,302

Year-over-Year Comparison

2023 2022 Change
Revenue $102,323,363 $50,354,014 +1.0%
Expenses $55,264,302 $47,600,088 +0.2%
Net Income $47,059,061 $2,753,926 +16.1%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
2
Employees
N/A
Volunteers
3

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
4
$40,000
Total Directors
4
$40,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM H GOODWIN JR DIRECTOR, PRESIDENT 0.50
Officer Director
$0 $0 $0
ALICE T GOODWIN DIRECTOR 0.50
Director
$0 $0 $0
WAYNE L HUNTER DIRECTOR, TREASURER 0.50
Officer Director
$12,500 $0 $12,500
JOHN SHERMAN JR DIRECTOR, SECRETARY 0.50
Officer Director
$27,500 $0 $27,500
JAMES A JONES TAX OFFICER 0.50
Officer
$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 No data No data No data No data
2023 $102,323,363 $55,264,302 $81,899,492 $47,059,061
2022 $50,354,014 $47,600,088 $34,835,660 $2,753,926
2021 $16,751,552 $20,371,781 $31,990,703 $-3,620,229
2020 $23,563,500 $20,160,019 $35,610,932 $3,403,481
2019 $14,003,731 $24,567,126 $32,272,531 $-10,563,395
2018 $28,385,863 $24,276,122 $43,061,062 $4,109,741
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