USHER III INITIATIVE INC

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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

2010

Legal Domicile

Principal Officer

ALICIA DERRAH

Phone

3128962509

Tax Period

2023-01-01 to 2023-12-31

USHER III INITIATIVE INC, founded in 2010, is a small nonprofit in the Diseases & Disorders sector that reported $874K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $142K, a strong 16% operating margin.

Mission

TO ACHIEVE ITS GOAL OF DEVELOPING A TREATMENT TO SLOW OR REVERSE THE VISION LOSS ASSOCIATED WITH USHER III, THE INITIATIVE HAS PURSUED AN APPROACH THAT FOCUSES ON SMALL MOLECULE CHAPERONE THERAPY.

Program Service Accomplishments

Program 1

Expenses: $312,324

CONTINUE DEVELOPMENT OF LEAD DRUG COMPOUND TO TREAT USHER SYNDROME TYPE 3, INCLUDING RESEARCH, PRE-CLINICAL SAFETY STUDIES AND MANUFACTURING.

Program 2

Expenses: $272,467

OTHER PROGRAM EXPENSES INCLUDING OVERSIGHT, ADMINISTRATION, EVALUATION AND PATENT REGISTRATION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $901,460

Program Service Revenue $0

Investment Income $-27,052

Other Revenue $0

TOTAL REVENUE $874,408

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $25,070

Program Expenses $584,791

Other Expenses $732,502

TOTAL EXPENSES $732,502

Year-over-Year Comparison

	2023	2022	Change
Revenue	$874,408	$1,771,984	-0.5%
Expenses	$732,502	$924,491	-0.2%
Net Income	$141,906	$847,493	-0.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYNTHIA ELDEN	PRESIDENT	6.00	Officer Director	$0	$0	$0
MARK ACKERMANN	DIRECTOR	1.00	Director	$0	$0	$0
DR JULIA HAYES	DIRECTOR	1.00	Director	$0	$0	$0
JAMES C MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
DR DAVID SAPERSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KRAINES	DIRECTOR	1.00	Director	$0	$0	$0
DR PAUL STERNBERG JR	DIRECTOR	1.00	Director	$0	$0	$0
ALICIA DERRAH	TREASURER, SECRETARY	6.00	Officer	$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	No data	No data	No data	No data
2023	$874,408	$732,502	$2,136,014	$141,906
2022	$1,771,984	$924,491	$2,080,401	$847,493
2021	$2,469,529	$1,950,640	$1,337,377	$518,889
2020	$999,354	$967,382	$651,795	$31,972
2019	$788,460	$838,519	$653,017	$-50,059
2018	$770,845	$567,152	$675,782	$203,693