THE V FOUNDATION

EIN: 133705951 501(c)(3) Medical Research

CARY, NC

Total Revenue
$61,639,637
Total Expenses
$70,594,561
Total Assets
$145,853,123
Net Assets
$60,306,162
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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
1993
Legal Domicile
DE
Principal Officer
DEVIN GILREATH
Phone
9193809505
Tax Period
2024-10-01 to 2025-09-30

THE V FOUNDATION, founded in 1993, is a mid-sized nonprofit in the Medical Research sector that reported $61.6M in total revenue in fiscal year 2024. Expenses of $70.6M exceeded revenue, resulting in a 15% operating deficit.

Mission

WE FUND GAME-CHANGING RESEARCH AND ALL-STAR SCIENTISTS TO ACCELERATE VICTORY OVER CANCER AND SAVE LIVES.

Program Service Accomplishments

Program 1
Expenses: $60,701,270

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...

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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.

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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 $57,056,700
Program Service Revenue $0
Investment Income $4,300,252
Other Revenue $282,685
TOTAL REVENUE $61,639,637

Expense Breakdown

Grants Paid $58,781,048
Salaries & Benefits $7,333,829
Fundraising Expenses $4,949,376
Program Expenses $60,701,270
Other Expenses $4,479,684
TOTAL EXPENSES $70,594,561

Year-over-Year Comparison

2024 2023 Change
Revenue $61,639,637 $62,401,014 0.0%
Expenses $70,594,561 $51,901,965 +0.4%
Net Income $-8,954,924 $10,499,049 -1.9%
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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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
42
Independent Members
41
Employees
91
Volunteers
60

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
7
$919,263
Total Directors
48
$632,277
Key Employees
5
$1,412,078
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CLARK KINLIN DIRECTOR/INTERIM CEO FR: 7/25 20.00
Officer Director
$0 $0 $0
EVAN GOLDBERG CHAIR 1.00
Officer Director
$0 $0 $0
PAMELA VALVANO STRASSER CHAIRWOMAN 1.00
Officer Director
$0 $0 $0
GEORGE BODENHEIMER SECRETARY 1.00
Officer Director
$0 $0 $0
CONSTANCE E SKIDMORE TREASURER 1.00
Officer Director
$0 $0 $0
NICHOLAS P VALVANO PRESIDENT EMERITUS 1.00
Director
$0 $0 $0
ROBERT BAST JR MD DIRECTOR 1.00
Director
$0 $0 $0
JEFF BERRY DIRECTOR 1.00
Director
$0 $0 $0
JAY BILAS DIRECTOR 1.00
Director
$0 $0 $0
STEVEN M BORNSTEIN DIRECTOR 1.00
Director
$0 $0 $0
EDWARD BOUSA DIRECTOR FR: 12/24 1.00
Director
$0 $0 $0
THOMAS E CABANISS DIRECTOR 1.00
Director
$0 $0 $0
JULIE CHASE DIRECTOR 1.00
Director
$0 $0 $0
NANCY DAVIDSON MD DIRECTOR 1.00
Director
$0 $0 $0
GEORGE W DENNIS III DIRECTOR THR: 9/25 1.00
Director
$0 $0 $0
RITA FERRO DIRECTOR 1.00
Director
$0 $0 $0
MATT HONG DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL B KASTAN MD PHD DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL W KRZYZEWSKI DIRECTOR 1.00
Director
$0 $0 $0
CARL C LIEBERT III DIRECTOR 1.00
Director
$0 $0 $0
FJ JOE LOUGHREY DIRECTOR 1.00
Director
$0 $0 $0
NANCY MAJOR MD DIRECTOR 1.00
Director
$0 $0 $0
JULIE MAPLES DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL C MACDONALD DIRECTOR THR: 9/25 1.00
Director
$0 $0 $0
GEOFFREY S MASON DIRECTOR THR: 5/25 1.00
Director
$0 $0 $0
MARC MENTRY DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH O MOORE MD DIRECTOR 1.00
Director
$0 $0 $0
ROBERT C NAKASONE DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM NELSON MDPHD DIRECTOR THR: 9/25 1.00
Director
$0 $0 $0
BILL NEWLANDS DIRECTOR FR: 12/24 1.00
Director
$0 $0 $0
DONNA ORENDER DIRECTOR 1.00
Director
$0 $0 $0
JAMES PITARO DIRECTOR 1.00
Director
$0 $0 $0
KEVIN PLANK DIRECTOR 1.00
Director
$0 $0 $0
BUSTER POSEY DIRECTOR 1.00
Director
$0 $0 $0
LAWRENCE C PROBST III DIRECTOR 1.00
Director
$0 $0 $0
HARRY E RHOADS JR DIRECTOR 1.00
Director
$0 $0 $0
SAGE STEELE DIRECTOR THR: 9/25 1.00
Director
$0 $0 $0
STUART A TAYLOR II DIRECTOR 1.00
Director
$0 $0 $0
JOHN W THIEL DIRECTOR 1.00
Director
$0 $0 $0
ROBERT VALVANO DIRECTOR 1.00
Director
$0 $0 $0
DICK VITALE DIRECTOR 1.00
Director
$0 $0 $0
DERECK WHITTENBURG DIRECTOR 1.00
Director
$0 $0 $0
DAVID W WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
NORBY WILLIAMSON DIRECTOR 1.00
Director
$0 $0 $0
CIARA WILSON DIRECTOR 1.00
Director
$0 $0 $0
RUSSELL WILSON DIRECTOR 1.00
Director
$0 $0 $0
DON YAEGER DIRECTOR 1.00
Director
$0 $0 $0
SHANE JACOBSON CHIEF EXECUTIVE OFFICER THR: 8/25 20.00
Officer Director
$590,980 $41,297 $632,277
DEVIN GILREATH CHIEF FINANCIAL OFFICER 26.00
Officer
$246,298 $40,688 $286,986
SUSANNA GREER CHIEF SCIENTIFIC OFFICER 40.00
Key Emp
$315,918 $40,697 $356,615
LAUREN HALL CHIEF DEVELOPMENT OFFICER THR: 12/24 28.00
Key Emp
$320,746 $15,285 $336,031
ROGER FERGUSON CHIEF MARKETING OFFICER 26.00
Key Emp
$309,660 $19,935 $329,595
JACKIE AANES CHIEF OF STAFF 26.00
Key Emp
$167,729 $38,011 $205,740
CHANDA JEANINE DOUGLAS WARD VP, HUMAN RESOURCES KEY EE THR: 7/25 20.00
Key Emp
$166,342 $17,755 $184,097
KARA COLEMAN VICE PRESIDENT, RESEARCH AND GRANTS 40.00
Highest
$177,556 $28,318 $205,874
PHILIP PILEWSKI VICE PRESIDENT, PRINCIPAL GIFTS 28.00
Highest
$209,752 $38,045 $247,797
CARRIE THOMAS SR. VICE PRESIDENT, PARTNERSHIP 26.00
Highest
$251,021 $39,014 $290,035
MAX DULEY SR. VICE PRESIDENT, PHILANTHROPY AND AUCTIONS 0.00
Highest
$206,391 $38,075 $244,466
JANE DIANE BAER SR. VICE PRESIDENT, MARKET DEVELOPMENT AND EVENTS 0.00
Highest
$222,495 $31,413 $253,908
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
2025 $61,639,637 $70,594,561 $145,853,123 $-8,954,924
2024 $62,401,014 $51,901,965 $129,345,194 $10,499,049
2023 $47,813,363 $50,407,793 $99,605,978 $-2,594,430
2022 $38,304,202 $33,070,010 $79,722,279 $5,234,192
2021 $32,236,754 $26,594,551 $77,875,594 $5,642,203
2020 $19,512,235 $18,863,499 $66,068,927 $648,736
2019 $33,522,505 $33,129,624 $76,463,175 $392,881
2018 $40,085,199 $30,945,548 $74,304,132 $9,139,651
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