MAIMONIDES RESEARCH & DEVELOPMENT FOUNDATION (EIN 112608229) - 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

1982

Legal Domicile

Principal Officer

PATRICK BORGEN MD

Phone

7182836456

Tax Period

2024-01-01 to 2024-12-31

MAIMONIDES RESEARCH & DEVELOPMENT FOUNDATION, founded in 1982, is a small nonprofit in the Medical Research sector that reported $907K in total revenue in fiscal year 2024. Net assets of $21.7M represent 286 months of operating reserves.

Mission

Maimonides Research and Development FOUNDATION AWARDS GRANTS FOR RESEARCH AND DEVELOPMENT ACTIVITIES PRIMARILY TO PHYSICIANS ASSOCIATED WITH MAIMONIDES MEDICAL CENTER.

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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 $0

Program Service Revenue $275,000

Investment Income $630,160

Other Revenue $1,936

TOTAL REVENUE $907,096

Expense Breakdown

Grants Paid $486,728

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $742,580

Other Expenses $493,981

TOTAL EXPENSES $980,709

Year-over-Year Comparison

	2024	2023	Change
Revenue	$907,096	$849,538	+0.1%
Expenses	$980,709	$788,700	+0.2%
Net Income	$-73,613	$60,838	-2.2%

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

N/A

Volunteers

N/A

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

$3,204,426

Total Directors

$10,969,571

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK BORGEN MD	PRESIDENT/MEDICAL DIRECTOR	0.5	Officer Director	$0	$66,239	$2,058,300
KENNETH GIBBS	DIRECTOR	0.5	Director	$0	$57,570	$1,815,127
JOHN MARSHALL MD	DIRECTOR	0.5	Director	$0	$67,422	$1,490,856
LAURIE WEINSTEIN	SECRETARY	0.5	Officer	$0	$57,419	$1,146,126
DAVID COHEN MD	DIRECTOR	0.5	Director	$0	$45,012	$984,934
AFSHIN RAZI MD	DIRECTOR	0.5	Director	$0	$68,379	$756,347
JEFFREY AVNER MD	DIRECTOR	0.5	Director	$0	$53,256	$723,852
ARIEL SCHULMAN MD	DIRECTOR	0.5	Director	$0	$31,581	$614,512
SERGEY MOTOV MD	DIRECTOR	0.5	Director	$0	$65,729	$500,885
ANTHONY KALLOO MD	DIRECTOR THRU 12/24	0.5	Director	$0	$26,805	$495,818
MONICA GHITAN MD	DIRECTOR THRU 6/24	0.5	Director	$0	$39,905	$394,941
EDMUND SCHMIDT	DIRECTOR	0.5	Director	$0	$26,052	$380,267
YU SHAI LIN MD	DIRECTOR	0.5	Director	$0	$66,041	$376,922
JUAN KUPFERMAN MD	DIRECTOR AS OF 9/24	0.5	Director	$0	$24,917	$376,810
STEVEN EISENSTADT	CHAIRMAN	0.5	Officer Director	$0	$0	$0
ROBERT MACHINIST	VICE PRESIDENT	0.5	Officer Director	$0	$0	$0
DONNA ASTION MD	TREASURER	0.5	Officer Director	$0	$0	$0
CHASKEL ROSENBERG	DIRECTOR	0.5	Director	$0	$0	$0
MARVIN EISENSTADT	DIRECTOR THRU 12/24	0.5	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	$907,096	$980,709	$22,470,558	$-73,613
2023	$849,538	$788,700	$19,807,901	$60,838
2022	$1,561,943	$854,686	$17,799,008	$707,257
2021	$1,623,416	$570,938	$20,668,159	$1,052,478
2020	$-315,594	$407,666	$18,521,336	$-723,260
2019	$247,011	$651,089	$16,912,141	$-404,078
2018	$3,534,142	$558,929	$14,896,386	$2,975,213

MAIMONIDES RESEARCH & DEVELOPMENT FOUNDATION