National Alopecia Areata 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

1981

Legal Domicile

Principal Officer

Laura Maciag

Phone

4154723780

Tax Period

2025-01-01 to 2025-12-31

National Alopecia Areata Foundation, founded in 1981, is a community nonprofit in the Medical Research sector that reported $4.0M in total revenue in fiscal year 2025. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $3.9M left a modest 4% surplus.

Mission

NAAF drives research to find a cure and accessible treatments for alopecia areata, supports those those impacted, and educates the public about the disease.

Program Service Accomplishments

Program 1

Expenses: $2,804,461 Revenue: $228,385

Awareness and support - provided emotional support and medical updates for persons suffering from Alopecia Areata. Services provided include monthly live webinars, a youth mentor program, support...

Awareness and support - provided emotional support and medical updates for persons suffering from Alopecia Areata. Services provided include monthly live webinars, a youth mentor program, support groups for parents and people living with alopecia areata, a robust website with resources including but not limited to patient brochures, school advisory toolkit as well as resources for insurance and finding local doctors who treat alopecia areata. Sponsored annual patient conference which featured support sessions, and which was attended by persons from the US and other countries. Walk For Alopecia held in September during Alopecia Areata Awareness month to raise funds and awareness of Alopecia areata. NAAFs Treatment Development programs funded medical research to find safe and effective treatments or cure for alopecia areata.

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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 $2,444,229

Program Service Revenue $228,385

Investment Income $116,285

Other Revenue $1,209,162

TOTAL REVENUE $3,998,061

Expense Breakdown

Grants Paid $337,673

Salaries & Benefits $2,060,356

Fundraising Expenses $623,456

Program Expenses $2,804,461

Other Expenses $1,452,153

TOTAL EXPENSES $3,850,182

Year-over-Year Comparison

	2025	2024	Change
Revenue	$3,998,061	$3,418,405	+0.2%
Expenses	$3,850,182	$2,978,013	+0.3%
Net Income	$147,879	$440,392	-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

500

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

$778,730

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ann Hollins	Chair	4.00	Officer Director	$0	$0	$0
Bonnie Chong	Director	4.00	Director	$0	$0	$0
Jonelle Massey	Director	2.00	Director	$0	$0	$0
Jim OConnell	Chief Financial Officer	4.00	Officer Director	$0	$0	$0
Tyrone Folliard-Olson	Vice Chair	4.00	Officer Director	$0	$0	$0
Simon Rubenstein	Director	2.00	Director	$0	$0	$0
Maureen McGettigan	Secretary	4.00	Officer Director	$0	$0	$0
Ron Saca	Director	2.00	Director	$0	$0	$0
Dr Brett King	Director	2.00	Director	$0	$0	$0
Shamsha Damani	Director	2.00	Director	$0	$0	$0
David Granson	Director	2.00	Director	$0	$0	$0
Lisa Bard Levine	Director	2.00	Director	$0	$0	$0
Ruth Rama-Witt	Director	2.00	Director	$0	$0	$0
Shawn Borisoff	Director	2.00	Director	$0	$0	$0
Nicole Friedland	President & CEO	40.00	Officer	$327,697	$24,652	$352,349
Laura Maciag	Chief Operating Officer	40.00	Officer	$203,975	$16,665	$220,640
Robert Baker III	Chief Growth Officer	40.00	Officer	$192,125	$13,616	$205,741
Lisa Anderson	Vice President of Research and Education	40.00	Highest	$144,156	$10,150	$154,306
George Gondo	Chief Mission Officer	40.00	Highest	$159,517	$3,649	$163,166
Jenna Smith	Marketing and Communications Director	40.00	Highest	$110,262	$1,057	$111,319

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	$3,998,061	$3,850,182	$4,739,437	$147,879
2024	$3,418,405	$2,978,013	$4,314,356	$440,392
2023	$3,613,350	$2,545,046	$3,489,660	$1,068,304
2022	$2,397,922	$2,381,788	$2,724,730	$16,134
2021	$2,187,420	$1,760,033	$2,313,900	$427,387
2021	$2,187,420	$1,760,033	$2,313,900	$427,387
2020	$1,644,129	$1,957,606	$2,076,204	$-313,477
2020	$1,644,129	$1,957,606	$2,076,204	$-313,477