THE RUTH K BROAD BIOMEDICAL RESEARCH FOUNDATION

EIN: 650045051 501(c)(3)

DURHAM, NC

Total Revenue
$854,406
Total Expenses
$1,037,317
Total Assets
$17,985,119
Net Assets
$17,985,119
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NC
Principal Officer
ERICA KITCHEN
Phone
9196680882
Tax Period
2023-07-01 to 2024-06-30

THE RUTH K BROAD BIOMEDICAL RESEARCH FOUNDATION, founded in 1997, is a small nonprofit that reported $854K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $1.0M exceeded revenue, resulting in a 21% operating deficit.

Mission

FOR ORGANIZATION'S MISSION STATEMENTSUPPORT BASIC SCIENTIFIC RESEARCH, EDUCATION AND DISSEMINATION OF RESEARCH FINDINGS IN THE NEUROSCIENCES.

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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 $26,004
Program Service Revenue $0
Investment Income $828,402
Other Revenue $0
TOTAL REVENUE $854,406

Expense Breakdown

Grants Paid $1,017,069
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,037,317
Other Expenses $20,248
TOTAL EXPENSES $1,037,317

Year-over-Year Comparison

2023 2022 Change
Revenue $854,406 $698,047 +0.2%
Expenses $1,037,317 $568,108 +0.8%
Net Income $-182,911 $129,939 -2.4%
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

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Governance

Voting Members
15
Independent Members
7
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
6
$2,271,774
Total Directors
16
$5,282,576
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN G LISBERGER DIRECTOR 0.10
Director
$0 $40,376 $505,267
RICHARD J O'BRIEN MD DIRECTOR 0.10
Director
$0 $47,144 $564,052
JAMES MCNAMARA MD DIRECTOR 0.10
Director
$0 $53,428 $369,267
COLIN DUCKETT DIRECTOR 0.10
Director
$0 $47,369 $449,804
MICHAEL SHOLTZ JD DIRECTOR 0.10
Director
$0 $64,357 $338,780
GEETA SWAMY MD DIRECTOR/PART YEAR CHAIRMAN 0.10
Officer Director
$0 $60,044 $575,877
KAREN B BERMAN DIRECTOR 0.10
Director
$0 $0 $0
DANIEL J BUSSEL DIRECTOR 1.00
Director
$0 $0 $0
DEBORAH BUSSEL DIRECTOR/VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
JOHN M BUSSEL DIRECTOR/TREASURER 0.10
Officer Director
$0 $0 $0
MOIRA RYNN MD DIRECTOR 0.10
Director
$0 $59,495 $646,710
CURTIS ALAN LOCKSHIN DIRECTOR 0.10
Director
$0 $0 $0
MANUEL F UTSET MD DIRECTOR 0.10
Director
$0 $0 $0
HANNAH MOSHONTZ DE LA ROCHA DIRECTOR 0.10
Director
$0 $0 $0
HEATHER WHITSON MD DIRECTOR 0.10
Director
$0 $51,470 $366,462
RALPH SNYDERMAN MD DIRECTOR/PART YEAR CHAIRMAN 0.10
Officer Director
$0 $68,895 $1,466,357
CATHLEEN DURGIN SECRETARY 2.00
Officer
$0 $19,381 $103,036
ERICA KITCHEN PRESIDENT/EXECUTIVE DIRECTOR 2.00
Officer
$0 $31,612 $126,504
JENNIFER GALLINA FORMER OFFICER 0.10
$0 $10,771 $283,805
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 $854,406 $1,037,317 $17,985,119 $-182,911
2023 $698,047 $568,108 $17,816,997 $129,939
2022 $648,234 $531,504 $18,625,123 $116,730
2021 $586,039 $520,826 $19,461,345 $65,213
2020 $532,076 $428,794 $13,114,830 $103,282
2019 $534,960 $522,106 $13,505,405 $12,854
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