ALZHEIMER'S DISEASE RESEARCH FOUNDATION (EIN 522396428) - 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

2004

Legal Domicile

Principal Officer

MARGARET E SMITH

Phone

7812373800

Tax Period

2023-01-01 to 2023-12-31

ALZHEIMER'S DISEASE RESEARCH FOUNDATION, founded in 2004, is a mid-sized nonprofit in the Medical Research sector that reported $37.7M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $34.6M left a modest 8% surplus.

Mission

TO FUND RESEARCH WITH THE HIGHEST PROBABILITY OF PREVENTING, SLOWING OR REVERSING ALZHEIMER'S DISEASE.

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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 $36,697,205

Program Service Revenue $0

Investment Income $1,042,285

Other Revenue $-14,283

TOTAL REVENUE $37,725,207

Expense Breakdown

Grants Paid $26,431,117

Salaries & Benefits $4,878,104

Fundraising Expenses $1,897,310

Program Expenses $31,400,541

Other Expenses $3,324,327

TOTAL EXPENSES $34,633,548

Year-over-Year Comparison

	2023	2022	Change
Revenue	$37,725,207	$40,708,245	-0.1%
Expenses	$34,633,548	$30,613,014	+0.1%
Net Income	$3,091,659	$10,095,231	-0.7%

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

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

$985,830

Total Directors

$829,301

Key Employees

$713,620

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGARET SMITH	CEO (AS OF 10/23)	40.00	Officer Director	$321,513	$28,490	$350,003
HENRY MCCANCE	CHAIR	5.00	Officer Director	$0	$0	$0
JACQUELINE MORBY	DIRECTOR	5.00	Director	$0	$0	$0
ROBERT GREENHILL	DIRECTOR	5.00	Director	$0	$0	$0
RICHARD BIRNBAUM	DIRECTOR (AS OF 7/23)	5.00	Director	$0	$0	$0
JEFFREY MORBY	DIRECTOR (DECEASED 9/23)	20.00	Director	$0	$0	$0
TIMOTHY ARMOUR	FORMER PRESIDENT & CEO (TO 09/23)	40.00	Officer Director	$350,862	$10,860	$361,722
LAUREL LYLE	SECRETARY & VP BOARD RELAT	30.00	Officer Director	$113,594	$3,982	$117,576
PHYLLIS RAPPAPORT	TREASURER	2.00	Officer Director	$0	$0	$0
JOSEPHINE ANTONELLIS	CHIEF FINANCIAL OFFICER (AS OF 8/23)	30.00	Officer	$150,986	$5,543	$156,529
KATHARINE HERMAN	EVP DEVELOPMENT	40.00	Key Emp	$405,657	$30,315	$435,972
BARBARA CHAMBERS	EVP MARKETING & COMM.	40.00	Key Emp	$254,908	$22,740	$277,648
DANIEL HARPER	SENIOR PHILANTHROPIC ADVISOR	40.00	Highest	$181,380	$11,960	$193,340
MAHUA DASGUPTA	SR. PHILANTROPIC ADVISOR	40.00	Highest	$168,942	$25,164	$194,106
JOHN SLATTERY	SVP MAJOR GIFTS	40.00	Highest	$190,709	$6,713	$197,422
KELLY WESTERHOUSE	VP LEADERSHIP GIVING	40.00	Highest	$155,421	$10,356	$165,777
LISA RAND	VP MARKETING & COMM.	40.00	Highest	$193,830	$18,277	$212,107

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$37,725,207	$34,633,548	$33,488,279	$3,091,659
2022	$40,708,245	$30,613,014	$30,192,784	$10,095,231
2021	$26,572,727	$23,165,275	$23,967,152	$3,407,452
2020	$22,899,223	$21,006,379	$16,427,042	$1,892,844
2019	$30,582,733	$24,308,027	$13,454,870	$6,274,706
2018	$19,893,795	$23,629,311	$7,580,826	$-3,735,516

ALZHEIMER'S DISEASE RESEARCH FOUNDATION