PARALYZED VETERANS OF AMERICA SPIN… - 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

1976

Legal Domicile

Principal Officer

ROBERT THOMAS

Phone

8004248200

Tax Period

2024-07-01 to 2025-06-30

PARALYZED VETERANS OF AMERICA SPINAL CORD RESEARCH FOUNDATION, founded in 1976, is a small nonprofit that reported $362K in total revenue in fiscal year 2024. Revenue fell 74% from the prior year — a significant decline worth monitoring. Expenses of $999K exceeded revenue, resulting in a 176% operating deficit.

Mission

PVA RESEARCH FOUNDATION INC., A NON-PROFIT ORGANIZATION FOUNDED IN WASHINGTON, DC IN 1976, IS CONTROLLED BY THE PARALYZED VETERANS OF AMERICA ("PVA"), A NATIONAL ORGANIZATION CHARTERED BY THE U.S. CONGRESS ON AUGUST 11, 1971. PVA RESEARCH FOUNDATION IS OPERATED EXCLUSIVELY FOR THE SCIENTIFIC, CHARITABLE AND EDUCATIONAL PURPOSES OF FURTHERING THE TECHNOLOGICAL ADVANCES IN REHABILITATIVE METHODS AND DEVICES, BASIC CURE, RESEARCH INJURY AND DISEASES AND OTHER AREAS BENEFICIAL TO DISABLED INDIVIDUALS. THE PVA RESEARCH FOUNDATION FUNDS NEUROSCIENTIFIC RESEARCH AIMED AT RESTORING FUNCTION AND IMPROVING THE QUALITY OF LIFE FOR PARALYZED PEOPLE. THE MAJORITY OF THE PVA RESEARCH FOUNDATION'S FINANCIAL, ADMINISTRATIVE AND OPERATING COSTS ARE DONATED FREE OF CHARGE BY PVA; ALMOST 100% OF ALL FUNDS RECEIVED BY THE PVA RESEARCH FOUNDATION ARE SPENT DIRECTLY ON GRANTS THAT FURTHER ITS MISSION.

Program Service Accomplishments

Program 1

Expenses: $985,129

PROVIDE 24 MONTH GRANTS RELATED TO SPINAL CORD INJURY AND/OR DISEASE IN BASIC SCIENTIFIC RESEARCH, APPLIED CLINICAL CARE, AND ASSISTIVE TECHNOLOGIES. GRANTS FOCUS ON INNOVATIVE INVESTIGATIONS AND...

PROVIDE 24 MONTH GRANTS RELATED TO SPINAL CORD INJURY AND/OR DISEASE IN BASIC SCIENTIFIC RESEARCH, APPLIED CLINICAL CARE, AND ASSISTIVE TECHNOLOGIES. GRANTS FOCUS ON INNOVATIVE INVESTIGATIONS AND POST-DOCTORAL FELLOWSHIPS. GRANT AWARDS ARE MADE BASED ON SCIENTIFIC MERIT AND MISSION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $117,010

Program Service Revenue $0

Investment Income $244,842

Other Revenue $0

TOTAL REVENUE $361,852

Expense Breakdown

Grants Paid $1,060,171

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $985,129

Other Expenses $-61,184

TOTAL EXPENSES $998,987

Year-over-Year Comparison

	2024	2023	Change
Revenue	$361,852	$1,391,843	-0.7%
Expenses	$998,987	$866,177	+0.2%
Net Income	$-637,135	$525,666	-2.2%

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

$886,200

Total Directors

$134,212

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT THOMAS	CHAIRMAN	4.00	Officer Director	$0	$7,597	$134,212
PETER AXELSON	BOARD MEMBER	4.00	Director	$0	$0	$0
RORY A COOPER	BOARD MEMBER	4.00	Director	$0	$0	$0
KENNETH C CURLEY	BOARD MEMBER	4.00	Director	$0	$0	$0
CHERYL LEWIS	BOARD MEMBER	4.00	Director	$0	$0	$0
EDUARDO TINOCO	BOARD MEMBER	4.00	Director	$0	$0	$0
MATTHEW MICKUNAS	BOARD MEMBER	4.00	Director	$0	$0	$0
COL DANIEL DUDEK	BOARD MEMBER	4.00	Director	$0	$0	$0
CHERYL TOPPING	TREASURER	4.00	Officer	$0	$46,288	$288,807
SHAUN CASTLE	EXECUTIVE DIRECTOR	4.00	Officer	$0	$43,640	$260,798
LINDSAY PERLMAN	SECRETARY (FROM 7/24)	4.00	Officer	$0	$18,237	$116,835
CHERYL VINES	SECRETARY (UNTIL 6/24)	4.00	Officer	$0	$3,873	$85,548

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	$361,852	$998,987	$4,529,044	$-637,135
2024	$1,391,843	$866,177	$4,837,986	$525,666
2023	$946,573	$913,274	$4,291,365	$33,299
2022	$1,675,598	$1,170,942	$4,077,397	$504,656
2021	$520,359	$706,423	$3,814,942	$-186,064
2020	$197,406	$817,133	$3,558,936	$-619,727
2019	$815,712	$671,682	$4,196,367	$144,030
2018	$4,162,430	$976,781	$4,047,820	$3,185,649

PARALYZED VETERANS OF AMERICA SPINAL CORD RESEARCH FOUNDATION