TargetCancer Foundation Inc

EIN: 264510094 501(c)(3) Medical Research

Cambridge, MA

Total Revenue
$1,261,609
Total Expenses
$839,048
Total Assets
$1,016,178
Net Assets
$1,016,178
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
MA
Principal Officer
James Palma
Phone
6177654881
Tax Period
2024-02-01 to 2025-01-31

TargetCancer Foundation Inc, founded in 2009, is a community nonprofit in the Medical Research sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 87% from the prior year, signaling strong growth momentum. The organization ran a surplus of $423K, a strong 33% operating margin.

Mission

TargetCancer Foundation promotes the development of lifesaving treatment protocols for rare cancers. TargetCancer Foundation directly supports initiatives at the forefront of cancer treatment by funding innovative research, fostering collaborations, and raising awareness among scientists, clinicians, and patients.

Program Service Accomplishments

Program 1
Expenses: $508,441 Revenue: $0

The specific purposes of the Organization are to raise awareness of and support for research into rare cancers, and to directly support patients and families facing rare cancers. This was...

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The specific purposes of the Organization are to raise awareness of and support for research into rare cancers, and to directly support patients and families facing rare cancers. This was accomplished in the fiscal year through the ongoing operation of a rare cancer precision medicine clinical trial, and through other programs. In 2020, TargetCancer Foundation launched a rare cancer precision medicine clinical trial called TCF-001 TRACK (Target Rare Cancer Knowledge). TRACK is a 400-patient clinical trial studying genomics and precision medicine in rare cancers, providing patients with critical personalized genomic data about their cancer and treatment recommendations from a panel of field leaders, and also generating rare cancer research data. TRACK is developed, sponsored and managed by TargetCancer Foundation, and is currently over halfway through its enrollment of patients with rare cancers and cancer of unknown primary.In 2024, TargetCancer Foundation held a major scientific meeting- the Think Tank on Advancing Precision Medicine in Rare Cancers. This unique, innovative meeting unites key stakeholders including clinicians, researchers, government, industry, and patients and advocates. This meeting is specifically designed to promote collaboration, information-sharing and idea generation in an effort to define research priorities, foster new collaborative efforts across institutions, and ultimately propel the field forward.In 2024, TargetCancer Foundation launched its Patient Outreach, Education and Support Program, which provides online and downloadable educational resources designed for patients navigating a rare cancer diagnosis. Theis includes resources such as What is a Rare Cancer, Initial Steps for Navigating a Rare Cancer Diagnosis, Clinical Trials, and Biomarker Testing. In addition, this program includes an educational webinar series intended for patients and caregivers.

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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 $1,308,131
Program Service Revenue $0
Investment Income $29,761
Other Revenue $-76,283
TOTAL REVENUE $1,261,609

Expense Breakdown

Grants Paid $0
Salaries & Benefits $402,014
Fundraising Expenses $108,005
Program Expenses $508,441
Other Expenses $437,034
TOTAL EXPENSES $839,048

Year-over-Year Comparison

2024 2023 Change
Revenue $1,261,609 $676,451 +0.9%
Expenses $839,048 $797,674 +0.1%
Net Income $422,561 $-121,223 -4.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
9
Employees
4
Volunteers
30

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
$241,387
Total Directors
11
$241,387
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jerry Alderman Director 1.00
Director
$0 $0 $0
Jennifer Levin Carter MD Director 1.00
Director
$0 $0 $0
CJ Chapman Director 1.00
Director
$0 $0 $0
Samuel Davenport Director 1.00
Director
$0 $0 $0
Janet Fine MS Director 1.00
Director
$0 $0 $0
Mary Pat Lancelotta Director 1.00
Director
$0 $0 $0
Kristen Schuler Scammon Director 1.00
Director
$0 $0 $0
Andrea Sullivan Director 1.00
Director
$0 $0 $0
Kristen Palma President/Director 40.00
Officer Director
$55,397 $11,933 $67,330
Colin Carey Treasurer/Director 1.00
Officer Director
$0 $0 $0
James M Palma Chief Executive Officer 50.00
Officer Director
$168,555 $5,502 $174,057
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 $1,261,609 $839,048 $1,016,178 $422,561
2024 $676,451 $797,674 $523,908 $-121,223
2023 $846,106 $704,653 $645,131 $141,453
2022 $510,511 $467,331 $472,447 $43,180
2021 $522,987 $593,339 $429,267 $-70,352
2020 $713,908 $457,911 $499,619 $255,997
2019 $383,824 $345,981 $243,622 $37,843
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