THE MULTIPLE MYELOMA RESEARCH FOUNDATION INC (EIN 061504413) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

MICHAEL ANDREINI

Phone

2032290464

Tax Period

2024-01-01 to 2024-12-31

THE MULTIPLE MYELOMA RESEARCH FOUNDATION INC, founded in 1998, is a mid-sized nonprofit in the Diseases & Disorders sector that reported $29.1M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $35.6M exceeded revenue, resulting in a 22% operating deficit.

Mission

MMRF ACCOMPLISHMENTS FOR 2024 THE MULTIPLE MYELOMA RESEARCH FOUNDATION, INC. AND ITS WHOLLY OWNED SUBSIDIARIES, THE MULTIPLE MYELOMA RESEARCH CONSORTIUM, LLC ("MMRC") AND MYELOMA INVESTMENT FUND, LLC ("MIF"), COLLECTIVELY REFERRED TO AS "THE MMRF," IS THE LARGEST NONPROFIT IN THE WORLD SOLELY FOCUSED ON ACCELERATING A CURE FOR EACH AND EVERY MULTIPLE MYELOMA PATIENT. THE MMRF DRIVES THE DEVELOPMENT AND DELIVERY OF NEXT-GENERATION THERAPIES, LEVERAGES DATA TO IDENTIFY OPTIMAL AND MORE PERSONALIZED TREATMENT APPROACHES AND EMPOWERS MYELOMA PATIENTS AND THE BROADER COMMUNITY WITH INFORMATION AND RESOURCES TO EXTEND THEIR LIVES. CENTRAL TO THE MMRF'S MISSION IS ITS COMMITMENT TO ADVANCING HEALTH EQUITY SO THAT ALL MYELOMA PATIENTS CAN BENEFIT FROM THE SCIENTIFIC AND CLINICAL ADVANCES THEY PURSUE. SINCE ITS INCORPORATION ON JANUARY 13, 1998, THE MMRF HAS COMMITTED OVER $600 MILLION FOR RESEARCH, OPENED NEARLY 100 CLINICAL TRIALS, AND HELPED BRING 15+ FDA APPROVED THERAPIES TO MARKET, WHICH HAVE TRIPLED THE LIFE EXPECTANCY OF MYELOMA PATIENTS. IN 2024 THE MMRF INVESTED $30M IN URGENT RESEARCH PROGRAMS AND SUPPORT SERVICES FOR MYELOMA PATIENTS. THROUGH THE MYELOMA INVESTMENT FUND (MIF), WE INVESTED IN FIVE EARLY-STAGE BIOTECH COMPANIES PURSUING INNOVATIVE, POTENTIALLY GAME-CHANGING TREATMENTS FOR MYELOMA. WE LAUNCHED THE GROUNDBREAKING HORIZON CLINICAL TRIALS PROGRAM, ENROLLING THE FIRST PATIENT BACK IN NOVEMBER. AS PART OF OUR COMMITMENT TO HEALTH EQUITY, WE APPOINTED A CHIEF DIVERSITY OFFICER AND INTRODUCED SEVERAL INITIATIVES AIMED AT ENSURING OUR CLINICAL STUDIES REFLECT THE REAL-WORLD U.S. MYELOMA POPULATIONWITH A GOAL OF ENROLLING AT LEAST 20% BLACK AND 15% HISPANIC PARTICIPANTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $24,100,727

Program Service Revenue $2,261,716

Investment Income $2,238,351

Other Revenue $500,620

TOTAL REVENUE $29,101,414

Expense Breakdown

Grants Paid $6,080,876

Salaries & Benefits $11,390,435

Fundraising Expenses $5,380,126

Program Expenses $29,021,484

Other Expenses $18,133,026

TOTAL EXPENSES $35,604,337

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,101,414	$33,950,590	-0.1%
Expenses	$35,604,337	$41,890,829	-0.2%
Net Income	$-6,502,923	$-7,940,239	-0.2%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

195

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

$1,180,185

Total Directors

Key Employees

$1,830,453

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY GIUSTI	FOUNDER & DIRECTOR	2.00	Director	$0	$0	$0
THOMAS CONHEENEY	CHAIRMAN	2.00	Officer Director	$0	$0	$0
GERALD MCDOUGALL	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
KENNETH ANDERSON MD	DIRECTOR	2.00	Director	$0	$0	$0
KAREN ANDREWS	DIRECTOR	2.00	Director	$0	$0	$0
RODNEY GILMORE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID LUCCHINO	DIRECTOR	2.00	Director	$0	$0	$0
LORI TAUBER-MARCUS	DIRECTOR	2.00	Director	$0	$0	$0
HUGH MARTIN	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN MARVIN	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM MCKIERNAN	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL MORTIMER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID PARKINSON MD	DIRECTOR	2.00	Director	$0	$0	$0
MARIE PINIZZOTTO MD	DIRECTOR	2.00	Director	$0	$0	$0
ADRIAN ROSENKRANZ	DIRECTOR	2.00	Director	$0	$0	$0
STEVE SHAK MD	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY WHITE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL ANDREINI	PRESIDENT & CEO	40.00	Officer	$466,042	$26,280	$492,322
ROBERT MIANI	TREASURER & CFO, THRU JUNE 2024	40.00	Officer	$328,624	$13,291	$341,915
KAREN DIETZ	SECRETARY, CAO & GENERAL COUNSEL	40.00	Officer	$259,764	$37,953	$297,717
ALAN HEITNER	TREASURER & CFO, AS OF OCT. 2024	40.00	Officer	$46,379	$1,852	$48,231
ANNE QUINN YOUNG	CHIEF MISSION OFFICER	40.00	Key Emp	$335,322	$18,535	$353,857
GEORGE MULLIGAN	CHIEF SCIENTIFIC OFFICER	40.00	Key Emp	$342,276	$45,540	$387,816
CHRISTOPHER WILLIAMS	VP OF ALLIANCE MANAGEMENT	40.00	Key Emp	$218,145	$36,828	$254,973
HEARN CHO	CHIEF MEDICAL OFFICER	32.00	Key Emp	$204,200	$8,168	$212,368
STEPHANIE OESTREICH	MANAGING DIRECTOR, MIF	40.00	Key Emp	$337,767	$26,864	$364,631
KATIE WOZNIAK	VP OF CLINICAL RESEARCH	40.00	Key Emp	$218,889	$37,919	$256,808
GREG RUBENSTEIN	VP OF MARKETING	40.00	Highest	$210,723	$39,864	$250,587
JOANNE PUGLIA	SR DIRECTOR FINANCE, CONTROLLER	40.00	Highest	$197,545	$9,187	$206,732
MARK HAMILTON	ASSOCIATE DIRECTOR, RESEARCH	40.00	Highest	$244,473	$12,496	$256,969
BRIAN HOCHBERG	PRINCIPAL GIFT OFFICER	40.00	Highest	$177,081	$35,811	$212,892
HEATHER STEIGER	SR DIRECTOR DIGITAL MARKETING	40.00	Highest	$175,571	$24,207	$199,778

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	$29,101,414	$35,604,337	$66,397,148	$-6,502,923
2023	$33,950,590	$41,890,829	$80,227,632	$-7,940,239
2022	$45,044,474	$38,280,730	$89,097,661	$6,763,744
2021	$42,311,196	$37,647,063	$85,401,847	$4,664,133
2020	$26,787,219	$28,545,732	$73,276,923	$-1,758,513
2019	$43,968,062	$33,588,092	$79,154,355	$10,379,970
2018	$44,172,260	$36,242,359	$69,711,900	$7,929,901

THE MULTIPLE MYELOMA RESEARCH FOUNDATION INC