Clayton Medical Research Foundation Inc

EIN: 510306704 501(c)(3)

Carson City, NV

Total Revenue
$2,839,778
Total Expenses
$3,913,882
Total Assets
$88,853,594
Net Assets
$85,949,364
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
DE
Principal Officer
Robert M Wallace
Phone
7753293111
Tax Period
2023-01-01 to 2023-12-31

Clayton Medical Research Foundation Inc, founded in 1989, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2023. Expenses of $3.9M exceeded revenue, resulting in a 38% operating deficit.

Mission

As a supporting organization to the Clayton Foundation for Research ("Clayton") the Foundation's primary mission is to fund medical research for the purpose of discovering the cause, prevention and cure of diseases for the benefit of mankind. The secondary mission is to transfer the resulting medical research discoveries from the laboratory to the use of the general public by patenting and licensing such technology for development into drugs or other products for the use and benefit of mankind through Clayton's other supporting entities.

Program Service Accomplishments

Program 1
Expenses: $997,471

The Tumor Targeting Toxins grant to the University of California, San Diego, funds research directed to the discovery and development of compounds for cancer therapy, compounds synthesized with...

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The Tumor Targeting Toxins grant to the University of California, San Diego, funds research directed to the discovery and development of compounds for cancer therapy, compounds synthesized with proteins joined by a sortase reaction, and compounds with cancer stem cell and hormone targeting ligands coupled with toxins for delivery to ovarian tumors and other epithelial tumors. Patent applications have been filed for these technologies by Research Development Foundation ("RDF"), a tax-exempt supporting organization of the Foundation {see Schedule R, Part III), and collaborations have been and are being established with other scientists and with commercial entities and consultants for manufacturing and development of drugs for human cancer indications.

Program 2
Expenses: $731,490

The MorfVeuss Discovery, Screening and Therapeutic Platform grant to the Salk Institute for Biological Studies funds research to develop a screening platform, called MorfVeuss, that will allow the...

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The MorfVeuss Discovery, Screening and Therapeutic Platform grant to the Salk Institute for Biological Studies funds research to develop a screening platform, called MorfVeuss, that will allow the discovery of micro-peptide drug targets while transforming these discoveries into gene and oncolytic viral therapeutic candidates. The objective of this platform is to overcome a critical unmet need in identifying and characterizing a novel class of therapeutics, building from very recent discoveries in the past decade in the emerging field of micro-proteins. Development of this platform should open the door for new breakthroughs and a pipeline of innovative new drug candidates, applicable across different indications.

Program 3
Expenses: $677,201

STF-1 and Glucose Control grant to The Salk Institute for Biological Studies focuses on characterization of cellular proteins that modulate fatty acid metabolism in muscle and fat; characterization...

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STF-1 and Glucose Control grant to The Salk Institute for Biological Studies focuses on characterization of cellular proteins that modulate fatty acid metabolism in muscle and fat; characterization of a signaling module that promotes beta cell survival; and the role of PDX and other known and new molecular switches in promoting beta islet cell proliferation and insulin secretion in the pancreas and liver.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $2,839,778
Other Revenue $0
TOTAL REVENUE $2,839,778

Expense Breakdown

Grants Paid $3,361,525
Salaries & Benefits $258,549
Fundraising Expenses $0
Program Expenses $3,618,477
Other Expenses $293,808
TOTAL EXPENSES $3,913,882

Year-over-Year Comparison

2023 2022 Change
Revenue $2,839,778 $2,968,221 0.0%
Expenses $3,913,882 $2,947,932 +0.3%
Net Income $-1,074,104 $20,289 -53.9%
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
5
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
8
$3,255,020
Total Directors
6
$3,570,827
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Robert M Wallace Trustee, President 8.00
Officer Director
$13,813 $97,800 $761,256
Jarred W Sloan Trustee, Vice President, Treasurer 6.00
Officer Director
$13,813 $97,800 $761,256
Lynn P Carter Trustee 4.00
Director
$13,813 $97,800 $761,256
Joan S Dunlap Trustee,VP,Assistant Secretary 4.00
Officer Director
$9,920 $88,019 $588,105
Brian W Crozier Trustee, Chairman 2.00
Officer Director
$13,813 $50,086 $395,392
Thomas J Brorby Deceased Trustee, Chairman 2.00
Officer Director
$11,479 $16,600 $303,562
Robert L Evans VP, Assistant Treasurer 0.00
Officer
$0 $81,846 $291,846
John Russell Beekman Vice President 10.00
Officer
$0 $39,925 $153,603
Christopher MacKenzie Vice President, Secretary 1.00
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 $2,839,778 $3,913,882 $88,853,594 $-1,074,104
2022 $2,968,221 $2,947,932 $77,997,012 $20,289
2021 $3,301,602 $3,411,349 $95,559,460 $-109,747
2020 $1,906,095 $3,147,844 $82,610,089 $-1,241,749
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