Clinical Research Foundation

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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

1988

Legal Domicile

Phone

5026814146

Tax Period

2025-01-01 to 2025-12-31

Clinical Research Foundation, founded in 1988, is a small nonprofit in the Medical Research sector that reported $499K in total revenue in fiscal year 2025. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $162K, a strong 32% operating margin.

Mission

Clinical Research Foundation, Inc. CRF promotes quality scientific research to improve the medical treatment, general health, and quality of life for our nation's veterans by providing a flexible funding mechanism to Robley Rex VA Medical Center researchers for non-VA funded studies or trials

Program Service Accomplishments

Program 1

Expenses: $280,424 Revenue: $369,494

Hired our first full-time employee. The position is a Post Awards Administrator to oversee the project management and post-awards processes of each study and grant. Additionally, we generated the...

Hired our first full-time employee. The position is a Post Awards Administrator to oversee the project management and post-awards processes of each study and grant. Additionally, we generated the largest philanthropic donation in Foundation history. Finally, we received approval to use Greenphire to improve the facilitation of patient stipends and travel reimbursement.

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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 (2025)

Revenue Breakdown

Contributions & Grants $241,096

Program Service Revenue $245,428

Investment Income $12,768

Other Revenue $0

TOTAL REVENUE $499,292

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,132

Fundraising Expenses $0

Program Expenses $280,424

Other Expenses $317,222

TOTAL EXPENSES $337,354

Year-over-Year Comparison

	2025	2024	Change
Revenue	$499,292	$375,042	+0.3%
Expenses	$337,354	$287,830	+0.2%
Net Income	$161,938	$87,212	+0.9%

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

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

$64,151

Total Directors

$66,751

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Book PhD	Executive Dir.	24.00	Officer Director	$64,151	$0	$64,151
Greg Bethards	Director	1.00	Director	$1,300	$0	$1,300
Mark Oliges	Director	1.00	Director	$1,300	$0	$1,300
Belinda Setters MD	Director	1.00	Director	$0	$0	$0
Gerald Dryden MD PhD	Chairman	1.00	Officer Director	$0	$0	$0
Sathya Krishnasamy MD	Director	1.00	Director	$0	$0	$0
Jennifer Bowman	Director	1.00	Director	$0	$0	$0
Larry Roberts	Director	1.00		$0	$0	$0
Amy Minix MD	Director	1.00		$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
2025	$499,292	$337,354	$664,236	$161,938
2025	No data	No data	No data	No data
2024	$375,042	$287,830	$395,422	$87,212
2024	No data	No data	No data	No data
2023	$330,716	$309,470	$256,437	$21,246
2023	$330,716	$309,470	$256,437	$21,246
2022	$388,144	$394,996	$232,461	$-6,852
2022	$388,144	$394,996	$232,461	$-6,852
2021	$376,626	$348,355	$267,189	$28,271
2021	$628,030	$599,758	$267,190	$28,272
2020	$449,134	$523,458	$244,533	$-74,324
2018	$264,093	$445,097	$482,383	$-181,004