CARDIOVASCULAR RESEARCH FOUNDATION (EIN 521752653) - 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

1991

Legal Domicile

Principal Officer

JUAN FGRANADA MD

Phone

6464344691

Tax Period

2023-01-01 to 2023-12-31

CARDIOVASCULAR RESEARCH FOUNDATION, founded in 1991, is a mid-sized nonprofit in the Medical Research sector that reported $78.3M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $13.3M, a strong 17% operating margin.

Mission

CARDIOVASCULAR RESEARCH FOUNDATION IS AN INDEPENDENT, ACADEMICALLY FOCUSED ORGANIZATION DEDICATED TO IMPROVING THE SURVIVAL AND QUALITY OF LIFE FOR PEOPLE WITH CARDIOVASCULAR DISEASE THROUGH RESEARCH AND EDUCATION. THE ORGANIZATION HAS PLAYED A MAJOR ROLE IN REALIZING DRAMATIC IMPROVEMENTS IN THE LIVES OF COUNTLESS NUMBERS OF PATIENTS BY ESTABLISHING THE SAFE USE OF NEW TECHNOLOGIES AND THERAPIES IN THE SUBSPECIALTY OF INTERVENTIONAL CARDIOLOGY AND ENDOVASCULAR MEDICINE.

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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 $8,046,413

Program Service Revenue $61,630,902

Investment Income $2,257,238

Other Revenue $6,336,676

TOTAL REVENUE $78,271,229

Expense Breakdown

Grants Paid $800,000

Salaries & Benefits $25,248,131

Fundraising Expenses $32,044

Program Expenses $56,423,126

Other Expenses $38,923,629

TOTAL EXPENSES $64,971,760

Year-over-Year Comparison

	2023	2022	Change
Revenue	$78,271,229	$61,324,834	+0.3%
Expenses	$64,971,760	$57,291,678	+0.1%
Net Income	$13,299,469	$4,033,156	+2.3%

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

223

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

$2,003,493

Total Directors

$1,017,602

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUAN F GRANADA MD	CEO & DIRECTOR	37.50	Officer Director	$945,463	$72,139	$1,017,602
ERIC B WOLDENBERG	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOSEPH G BECK	DIRECTOR	2.00	Director	$0	$0	$0
COLETTE Y GARDNER	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM A HIMMELSBACH	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY W MOSES MD	DIRECTOR	2.00	Director	$0	$0	$0
TERESA LESTE	DIRECTOR	2.00	Director	$0	$0	$0
ERIC A ROSE MD	DIRECTOR	2.00	Director	$0	$0	$0
MARVIN L WOODALL	DIRECTOR	2.00	Director	$0	$0	$0
KAREN G KRASNEY	DIRECTOR	2.00	Director	$0	$0	$0
FRANK LITVACK MD	DIRECTOR	2.00	Director	$0	$0	$0
DONALD L ABRAMS	CHIEF LEGAL OFFICER	37.50	Officer	$471,379	$25,997	$497,376
EILEEN MORALES	CFO	37.50	Officer	$450,290	$38,225	$488,515
DAVID COHEN	DIRECTOR OF CLINICAL & OUT	37.50	Highest	$704,590	$30,000	$734,590
ALEXANDRA POPMA	DIRECTOR	37.50	Highest	$437,422	$0	$437,422
TRICIA RAWH	EXECUTIVE DIRECTOR, CED	37.50	Highest	$406,000	$22,512	$428,512
GRZEGORZ KALUZA	DIRECTOR RESEARCH	37.50	Highest	$314,867	$66,848	$381,715
DANIEL BURKOFF	DIRECTOR OF HEART FAILURE	37.50	Highest	$316,055	$56,556	$372,611

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	$78,271,229	$64,971,760	$91,969,884	$13,299,469
2022	$61,324,834	$57,291,678	$76,093,334	$4,033,156
2021	$52,277,749	$47,332,137	$57,426,030	$4,945,612
2020	$37,490,664	$41,452,402	$55,991,119	$-3,961,738
2019	$65,620,319	$55,971,546	$60,748,866	$9,648,773
2018	$60,750,509	$54,012,608	$47,712,737	$6,737,901

CARDIOVASCULAR RESEARCH FOUNDATION