PHILADELPHIA RESEARCH & EDUCATION … - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

VERA TAYLOR

Phone

2158235800

Tax Period

2024-07-01 to 2025-06-30

PHILADELPHIA RESEARCH & EDUCATION FOUNDA, founded in 2000, is a community nonprofit in the Medical Research sector that reported $2.1M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $2.4M exceeded revenue, resulting in a 16% operating deficit.

Mission

TO FACILITATE AND SERVE THE CORPORAL MICHAEL J. CRESCENZ VETERANS AFFAIRS MEDICAL CENTER'S (CMCVAMC) RESEARCH AND EDUCATION PROGRAMS

Program Service Accomplishments

Program 1

Expenses: $1,992,482 Revenue: $1,369,128

TO PROVIDE A FLEXIBLE MECHANISM TO FACILITATE THE CONDUCT OF APPROVED MEDICAL RESEARCH AND EDUCATION IN CONJUNCTION WITH THE MISSION OF THE CMCVAMC. TO ENCOURAGE AND SUPPORT THE PERFORMANCE OF...

TO PROVIDE A FLEXIBLE MECHANISM TO FACILITATE THE CONDUCT OF APPROVED MEDICAL RESEARCH AND EDUCATION IN CONJUNCTION WITH THE MISSION OF THE CMCVAMC. TO ENCOURAGE AND SUPPORT THE PERFORMANCE OF MEDICAL RESEARCH AND EDUCATION WHICH WILL RESULT IN IMPROVED MEDICAL CARE AND TREATMENT FOR VETERANS AND SOCIETY.

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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 $568,454

Program Service Revenue $1,369,128

Investment Income $133,542

Other Revenue $0

TOTAL REVENUE $2,071,124

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,270,183

Fundraising Expenses $0

Program Expenses $1,992,482

Other Expenses $1,127,719

TOTAL EXPENSES $2,397,902

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,071,124	$2,202,326	-0.1%
Expenses	$2,397,902	$2,340,310	+0.0%
Net Income	$-326,778	$-137,984	+1.4%

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

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

$1,323,280

Total Directors

$1,666,113

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN J KELLY MD	VICE-CHAIR	0.25	Officer Director	$0	$0	$367,548
KYONG-MI CHANG MD	TREASURER	0.25	Officer Director	$0	$0	$338,465
LAWRENCE HOLZMAN MD	DIRECTOR	0.25	Director	$0	$0	$292,083
EDNA SCHWAB MD	SECRETARY	0.25	Officer Director	$0	$0	$283,836
KAREN FLAHERTY-OXLER RN	CHAIR	0.25	Officer Director	$0	$0	$203,700
MICHAEL RAY	DIRECTOR	0.25	Director	$0	$0	$0
MARTIN FARQUHAR HEYWORTH MD	DIRECTOR	0.25	Director	$0	$0	$0
JENNIFER HARKINS MS FACHE	DIRECTOR	0.25	Director	$0	$0	$180,481
GWENDOLYN CHAM	EXECUTIVE DIRECTOR	40.00	Officer	$120,051	$9,680	$129,731

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	$2,071,124	$2,397,902	$3,427,975	$-326,778
2024	$2,202,326	$2,340,310	$3,317,769	$-137,984
2023	$2,630,237	$1,871,954	$3,774,629	$758,283
2022	$3,092,281	$1,437,690	$3,079,281	$1,654,591
2021	$1,954,451	$1,386,509	$2,618,166	$567,942
2020	$1,004,457	$1,017,471	$2,166,206	$-13,014
2019	$621,540	$756,144	$1,529,651	$-134,604
2018	$520,751	$532,895	$1,158,569	$-12,144

PHILADELPHIA RESEARCH & EDUCATION FOUNDA