FUND FOR MEDICAL RESEARCH AND EDUCATION (EIN 382319524) - 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

1979

Legal Domicile

Principal Officer

THANE PETERSON

Phone

3135772912

Tax Period

2023-10-01 to 2024-09-30

FUND FOR MEDICAL RESEARCH AND EDUCATION, founded in 1979, is a mid-sized nonprofit that reported $49.5M in total revenue in fiscal year 2023. Revenue surged 471% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44.1M, a strong 89% operating margin.

Mission

ASSIST THE WAYNE STATE UNIVERSITY SCHOOL OF MEDICINE AND ITS FACULTY IN MEETING THE SCHOOL'S PRIMARY GOALS OF RESEARCH, EDUCATION AND ASSOCIATED PATIENT CARE AND TO ENHANCE THE RECRUITMENT AND RETENTION OF MEDICAL FACULTY OF THE HIGHEST QUALITY.

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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 $39,967,967

Program Service Revenue $7,792,798

Investment Income $1,691,906

Other Revenue $0

TOTAL REVENUE $49,452,671

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,095,250

Other Expenses $5,323,379

TOTAL EXPENSES $5,323,379

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,452,671	$8,667,498	+4.7%
Expenses	$5,323,379	$4,384,126	+0.2%
Net Income	$44,129,292	$4,283,372	+9.3%

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

$1,223,424

Total Directors

$11,298,561

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN BARNHILL	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN O'NEIL MD	BOARD MEMBER	1.00	Director	$0	$59,943	$533,945
CARMEN LEON MCINTYRE MD	BOARD MEMBER (INTERIM)	1.00	Director	$0	$38,853	$185,492
DARIUS MEHREGAN MD	BOARD MEMBER	1.00	Director	$0	$8,569	$156,518
DAVID BRYANT MD	BOARD MEMBER	1.00	Director	$0	$22,921	$648,355
DAVID ROSENBERG MD	BOARD MEMBER	1.00	Director	$0	$80,712	$952,338
DAVID MASSARON	BOARD MEMBER THRU 12/15/23	1.00	Director	$0	$36,353	$375,832
DONALD WEAVER MD	BOARD MEMBER	1.00	Director	$0	$94,411	$523,780
HERMAN GRAY MD	BOARD MEMBER	1.00	Director	$0	$51,105	$618,305
HO-SHENG LIN MD	BOARD MEMBER	1.00	Director	$0	$92,330	$1,380,928
JINPING XU MD	BOARD MEMBER	1.00	Director	$0	$47,112	$448,667
BORIS PACHE	BOARD MEMBER	1.00	Director	$0	$59,665	$392,050
MARIA ZESTOS MD	BOARD MEMBER	1.00	Director	$0	$7,886	$71,029
MARK GAFFNEY	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK JUZYCH MD MHSA	BOARD MEMBER	1.00	Director	$0	$53,102	$1,074,694
MAYSSA BASHA MD	BOARD MEMBER (INTERIM)	1.00	Director	$0	$34,919	$460,433
MICHAEL L CHER MD	BOARD MEMBER	1.00	Director	$0	$81,621	$595,717
RAFIC BEYDOUN MD	BOARD MEMBER (INTERIM)	1.00	Director	$0	$7,154	$524,154
RAHUL VAIDYA MD	BOARD MEMBER (INTERIM)	1.00	Director	$0	$0	$159,755
SAFWAN BADR MD	BOARD MEMBER	1.00	Director	$0	$57,423	$760,514
SAMUEL JOHNSON MD	BOARD MEMBER	1.00	Director	$0	$0	$207,094
TIMOTHY STEMMLER PHD	BOARD MEMBER THRU 1/31/24	1.00	Director	$0	$50,514	$362,852
WAEL SAKR MD	PRESIDENT/CHAIR	1.00	Officer Director	$0	$66,722	$866,109
THANE PETERSON MPA	TREASURER/CFO	1.00	Officer	$0	$51,315	$357,315
MARK SCHWEITZER MD MHSA	FORMER PRESIDENT/CHAIR	0.00		$0	$106,699	$863,523
STEPHEN LANIER PHD	FORMER VICE PRESIDENT/BOAR	0.00		$0	$56,315	$358,356
JACK SOBEL MD	FORMER PRESIDENT/CHAIR	0.00		$0	$52,419	$420,185
NATASHA WEATHERS	FORMER CFO	0.00		$0	$39,589	$164,035

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	$49,452,671	$5,323,379	$45,428,051	$44,129,292
2023	$8,667,498	$4,384,126	$40,300,443	$4,283,372
2022	$8,438,786	$6,670,146	$38,285,574	$1,768,640
2021	$9,049,534	$9,163,826	$30,425,506	$-114,292
2020	$7,965,894	$4,094,048	$27,227,590	$3,871,846
2019	$14,863,416	$6,833,917	$25,746,885	$8,029,499
2018	$11,382,153	$5,957,252	$15,539,787	$5,424,901

FUND FOR MEDICAL RESEARCH AND EDUCATION