Closer to Cure 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

Phone

4353002736

Tax Period

2019-01-01 to 2019-12-31

Closer to Cure Foundation, founded in 2019, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2019. The organization ran a surplus of $1.0M, a strong 99% operating margin.

Mission

Closer to Cure Foundation provides philanthropic support to researchers and organizations utilizing evolutionary biology to develop new therapeutics to cure cancer and disease in humans and animals.

Program Service Accomplishments

Program 1

Expenses: $6,301 Revenue: $1,033,594

In 2019 we worked on building our foundation and obtaining our 501(c)(3) status from the IRS. We received a large gift directed to two specific individuals/organizations. Once received, we spent the remainder of the year planning the distribution and requirements of the recipients of the funding (the award documentation).

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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 (2019)

Revenue Breakdown

Contributions & Grants $1,033,594

Program Service Revenue $0

Investment Income $1,943

Other Revenue $0

TOTAL REVENUE $1,035,537

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,900

Fundraising Expenses $0

Program Expenses $6,301

Other Expenses $1,477

TOTAL EXPENSES $10,377

Year-over-Year Comparison

	2019	2018	Change
Revenue	$1,035,537	N/A	N/A
Expenses	$10,377	N/A	N/A
Net Income	$1,025,160	N/A	N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gareth Mitchell	Executive Director	20.00		$7,644	$0	$7,644
Laurie Eastwood	Co-President	2.00	Director	$0	$0	$0
Morgan Irvin	Treasurer	1.00	Director	$0	$0	$0
Clinton Nagy	Director	0.50	Director	$0	$0	$0
Aimee Preston	Secretary	2.00	Director	$0	$0	$0
Marva Warnock	Co-President	2.00	Director	$0	$0	$0
Oliver Wyss	Director	0.10	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
2019	$1,035,537	$10,377	$1,025,160	$1,025,160