THE ICAHN MEDICAL RESEARCH FOUNDAT… - 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

2012

Legal Domicile

Principal Officer

CARL C ICAHN

Phone

3054224000

Tax Period

2023-01-01 to 2023-12-31

THE ICAHN MEDICAL RESEARCH FOUNDATION C/O ICAHN ASSOCIATES HOLDING LLC, founded in 2012, is a mid-sized nonprofit in the Health Care sector that reported $21.7M in total revenue in fiscal year 2023. Revenue surged 1050% from the prior year, signaling strong growth momentum. The organization ran a surplus of $17.6M, a strong 81% operating margin.

Mission

THE ICAHN MEDICAL RESEARCH FOUNDATION'S MISSION IS TO CONDUCT MEDICAL RESEARCH IN CONJUNCTION WITH ONE OR MORE HOSPITALS IN ORDER TO DISCOVER, DEVELOP, OR VERIFY KNOWLEDGE RELATING TO THE CAUSES, DIAGNOSIS, TREATMENT, PREVENTION, OR CONTROL OF DISEASE.

Program Service Accomplishments

Program 1

Expenses: $4,131,492

THE FOUNDATION DIRECTLY ENGAGES IN THE CONTINUOUS ACTIVE CONDUCT OF MEDICAL RESEARCH WITH MOUNT SINAI HOSPITAL. ALL OF THE FOUNDATION'S ACTIVITIES INVOLVE THE CONDUCT OF RESEARCH TO DISCOVER...

THE FOUNDATION DIRECTLY ENGAGES IN THE CONTINUOUS ACTIVE CONDUCT OF MEDICAL RESEARCH WITH MOUNT SINAI HOSPITAL. ALL OF THE FOUNDATION'S ACTIVITIES INVOLVE THE CONDUCT OF RESEARCH TO DISCOVER, DEVELOP, OR VERIFY KNOWLEDGE RELATING TO THE CAUSES, DIAGNOSIS, TREATMENT, PREVENTION OR CONTROL OF DISEASE. IN 2023, THE FOUNDATION DID NOT GENERATE REVENUE ASSOCIATED WITH THESE SERVICES.

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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 $21,747,386

Program Service Revenue $0

Investment Income $1,888

Other Revenue $0

TOTAL REVENUE $21,749,274

Expense Breakdown

Grants Paid $0

Salaries & Benefits $970,336

Fundraising Expenses $0

Program Expenses $4,131,492

Other Expenses $3,217,625

TOTAL EXPENSES $4,187,961

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,749,274	$1,891,008	+10.5%
Expenses	$4,187,961	$14,222,631	-0.7%
Net Income	$17,561,313	$-12,331,623	-2.4%

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

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL C ICAHN	PRESIDENT, DIRECTOR	1.00	Officer Director	$0	$0	$0
GAIL GOLDEN-ICAHN	VP, SECRETARY	1.00	Officer	$0	$0	$0
JORDAN BLEZNICK	VICE PRESIDENT/TAXES (THRU 04/23)	1.00	Officer	$0	$0	$0
GREGORY L BONYNE	VICE PRESIDENT/TAXES (AS OF 05/23)	1.00	Officer	$0	$0	$0
ROWELLA ASUNCION-GUMABONG	VP, TREASURER	1.00	Officer	$0	$0	$0
JESSE LYNN	VICE PRESIDENT	1.00	Officer	$0	$0	$0
HUNTER GARY	VICE PRESIDENT	1.00	Officer	$0	$0	$0
SCHAHRAM AKBARIAN	ICAHN SCHOLAR	40.00	Highest	$141,068	$10,932	$152,000

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	$21,749,274	$4,187,961	$86,080,352	$17,561,313
2022	$1,891,008	$14,222,631	$116,319,039	$-12,331,623
2021	$1,905,506	$14,266,889	$114,654,992	$-12,361,383
2020	$1,910,989	$14,276,873	$116,012,045	$-12,365,884
2019	$1,914,580	$14,806,479	$117,377,929	$-12,891,899
2018	$1,912,015	$14,867,658	$118,769,828	$-12,955,643

THE ICAHN MEDICAL RESEARCH FOUNDATION C/O ICAHN ASSOCIATES HOLDING LLC