THE FARIS 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

2019

Legal Domicile

Principal Officer

ASHA VIRANI

Phone

2816884569

Tax Period

2024-01-01 to 2024-12-31

THE FARIS FOUNDATION, founded in 2019, is a community nonprofit in the Diseases & Disorders sector that reported $1.8M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $389K, a strong 22% operating margin.

Mission

THE FARIS FOUNDATION BRINGS BRIGHTER DAYS AND BETTER TREATMENTS TO CHILDREN WITH CANCER. OUR WORK IS FOCUSED IN FOUR KEY AREAS: CHILDHOOD CANCER RESEARCH, CREATIVE ARTS PROGRAMS AT CHILDREN'S CANCER CENTERS, PUBLIC ENGAGEMENT AND AWARENESS AROUND CHILDHOOD CANCER, AND CARE PACKAGES FOR CHILDREN WITH CANCER.

Program Service Accomplishments

Program 1

Expenses: $450,000 Revenue: $0

CHILDHOOD CANCER RESEARCH - WE FUND ORIGINAL AND TRANSFORMATIVE RESEARCH IN AREAS WHERE THERE IS HIGH NEED AND A HIGH POTENTIAL FOR IMPACT. OUR FOCUS IS ON IMMUNOTHERAPY, MOLECULAR & PRECISION...

CHILDHOOD CANCER RESEARCH - WE FUND ORIGINAL AND TRANSFORMATIVE RESEARCH IN AREAS WHERE THERE IS HIGH NEED AND A HIGH POTENTIAL FOR IMPACT. OUR FOCUS IS ON IMMUNOTHERAPY, MOLECULAR & PRECISION MEDICINE FOR RARE CANCERS WHERE THE MORTALITY RATE HAS NOT CHANGED IN DECADES.

Program 2

Expenses: $585,901 Revenue: $26,500

CREATIVE ART THERAPY PROGRAMS - THE FARIS FOUNDATION WORKS TO EMBED HIGHLY QUALIFIED, MASTERS-TRAINED ART THERAPISTS AND MUSIC THERAPISTS WITHIN CHILDREN'S CANCER CENTERS ACROSS THE COUNTRY. IN...

CREATIVE ART THERAPY PROGRAMS - THE FARIS FOUNDATION WORKS TO EMBED HIGHLY QUALIFIED, MASTERS-TRAINED ART THERAPISTS AND MUSIC THERAPISTS WITHIN CHILDREN'S CANCER CENTERS ACROSS THE COUNTRY. IN ADDITION, WE PROVIDE ONGOING ART ENGAGEMENTS AT NUMEROUS CHILDREN'S CANCER CENTERS WHICH ENGAGE PROFESSIONAL ARTISTS/ARTS EDUCATORS IN THE CONCEPTUALIZATION OF UNIQUE PROJECTS FOR EACH OF THESE EVENTS AND INVITE THE PARTICIPATION OF VOLUNTEERS FROM THE COMMUNITY FOR THE EVENT ITSELF.

Program 3

Expenses: $120,913 Revenue: $86,000

LET THERE BE GOLD - LET THERE BE GOLD IS OUR ANNUAL CHILDHOOD CANCER AWARENESS AND PUBLIC ENGAGEMENT CAMPAIGN. EVERY SEPTEMBER WE HOLD GOLD CELEBRATIONS IN CHILDREN'S CANCER CENTERS AND GALVANIZE...

LET THERE BE GOLD - LET THERE BE GOLD IS OUR ANNUAL CHILDHOOD CANCER AWARENESS AND PUBLIC ENGAGEMENT CAMPAIGN. EVERY SEPTEMBER WE HOLD GOLD CELEBRATIONS IN CHILDREN'S CANCER CENTERS AND GALVANIZE COMMUNITIES AROUND THE CAUSE.

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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 $1,827,760

Program Service Revenue $0

Investment Income $77,058

Other Revenue $-103,936

TOTAL REVENUE $1,800,882

Expense Breakdown

Grants Paid $916,667

Salaries & Benefits $257,297

Fundraising Expenses $0

Program Expenses $1,354,988

Other Expenses $237,473

TOTAL EXPENSES $1,411,437

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,800,882	$1,578,814	+0.1%
Expenses	$1,411,437	$1,265,575	+0.1%
Net Income	$389,445	$313,239	+0.2%

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

Volunteers

199

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHA JAMAL VIRANI	PRESIDENT	40.00	Officer Director	$0	$0	$0
FARID VIRANI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KRISTA BABINE	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN BLANEY	DIRECTOR	1.00	Director	$0	$0	$0
NAUSHAD KERMALLY	DIRECTOR	1.00	Director	$0	$0	$0
BONNA KOL	DIRECTOR	1.00	Director	$0	$0	$0
LORI VETTERS	DIRECTOR	1.00	Director	$0	$0	$0
JENNIE BIGGS	TREASURER	2.00	Officer Director	$0	$0	$0
ZAHRA DOSSA	SECRETARY	1.00	Officer Director	$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
2024	$1,800,882	$1,411,437	$5,749,984	$389,445
2024	$1,800,882	$1,411,437	$5,749,984	$389,445
2023	$1,578,814	$1,265,575	$4,782,664	$313,239
2023	$1,578,814	$1,265,575	$4,782,664	$313,239
2022	$1,703,325	$1,251,812	$4,552,759	$451,513
2021	$1,439,177	$505,708	$3,963,783	$933,469
2020	$2,344,708	$337,239	$3,055,314	$2,007,469
2019	$1,142,384	$119,539	$1,022,845	$1,022,845