Civic Intelligence

The Progeria Research Foundation Inc.

990 • Fiscal year 2022 • EIN 04-3460220

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 23, 2023

PO Box 3453Peabody, MA 01961-3453

(978) 535-2594

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.02x

Higher debt load relative to assets than 15% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

61st percentile

0.43x

Higher debt load relative to revenue than 61% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

4th percentile

-74%

Higher net margin than 4% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

34th percentile

$195,500

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 10.9% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

17th percentile

-11%

Faster asset growth than 17% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Down

$47,596,733

Down $6,094,069 (-11%) from 2021

Net Assets

Down

$46,824,384

Down $6,529,376 (-12%) from 2021

Liabilities

Up

$772,349

Up $435,307 (+129%) from 2021

Revenue

Down

$1,793,850

Down $47,425,912 (-96%) from 2021

Expenses

Down

$3,126,766

Down $33,920 (-1.1%) from 2021

Net Income

Down

-$1,332,916

Down $47,391,992 (-103%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $2,820,342Liabilities 2010: $25,996Net Assets 2010: $2,794,3462010Assets 2011: $3,562,853Liabilities 2011: $108,431Net Assets 2011: $3,454,4222011Assets 2012: $3,735,811Liabilities 2012: $50,247Net Assets 2012: $3,685,5642012Assets 2013: $4,234,880Liabilities 2013: $202,870Net Assets 2013: $4,032,0102013Assets 2014: $5,081,358Liabilities 2014: $433,323Net Assets 2014: $4,648,0352014Assets 2015: $4,308,161Liabilities 2015: $433,949Net Assets 2015: $3,874,2122015Assets 2016: $4,779,872Liabilities 2016: $385,355Net Assets 2016: $4,394,5172016Assets 2017: $4,511,886Liabilities 2017: $332,945Net Assets 2017: $4,178,9412017Assets 2018: $5,025,342Liabilities 2018: $483,203Net Assets 2018: $4,542,1392018Assets 2019: $7,451,058Liabilities 2019: $508,615Net Assets 2019: $6,942,4432019Assets 2020: $6,950,071Liabilities 2020: $418,027Net Assets 2020: $6,532,0442020Assets 2021: $53,690,802Liabilities 2021: $337,042Net Assets 2021: $53,353,7602021Assets 2022: $47,596,733Liabilities 2022: $772,349Net Assets 2022: $46,824,3842022Assets 2023: $48,844,685Liabilities 2023: $593,519Net Assets 2023: $48,251,1662023Assets 2024: $48,028,500Liabilities 2024: $627,829Net Assets 2024: $47,400,6712024

Highlighted filing

2022

Assets$47,596,733
Liabilities$772,349
Net Assets$46,824,384

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MRevenue 2010: $1,703,301Expenses 2010: $1,241,034Net Income 2010: $462,2672010Revenue 2011: $2,028,547Expenses 2011: $1,368,471Net Income 2011: $660,0762011Revenue 2012: $1,806,700Expenses 2012: $1,575,558Net Income 2012: $231,1422012Revenue 2013: $2,718,395Expenses 2013: $2,371,949Net Income 2013: $346,4462013Revenue 2014: $2,741,632Expenses 2014: $2,579,078Net Income 2014: $162,5542014Revenue 2015: $2,015,719Expenses 2015: $2,823,533Net Income 2015: -$807,8142015Revenue 2016: $3,172,499Expenses 2016: $2,652,194Net Income 2016: $520,3052016Revenue 2017: $2,147,287Expenses 2017: $2,362,863Net Income 2017: -$215,5762017Revenue 2018: $2,884,717Expenses 2018: $2,521,519Net Income 2018: $363,1982018Revenue 2019: $5,046,788Expenses 2019: $2,646,484Net Income 2019: $2,400,3042019Revenue 2020: $2,209,540Expenses 2020: $2,619,939Net Income 2020: -$410,3992020Revenue 2021: $49,219,762Expenses 2021: $3,160,686Net Income 2021: $46,059,0762021Revenue 2022: $1,793,850Expenses 2022: $3,126,766Net Income 2022: -$1,332,9162022Revenue 2023: $2,231,500Expenses 2023: $3,929,965Net Income 2023: -$1,698,4652023Revenue 2024: $3,650,308Expenses 2024: $5,902,368Net Income 2024: -$2,252,0602024

Highlighted filing

2022

Revenue$1,793,850
Expenses$3,126,766
Net Income-$1,332,916
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 23, 2023
Return Version
2022v5.0
Gross Receipts
$13,435,755
Mission and Program Overview

Mission

Discover treatments & cure for progeria & its aging related disorders, including heart disease.

Discover treatments & cure for progeria & its aging-related disorders, including heart disease.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$44,532,017$38,574,573▼ $5,957,444
Savings and Temporary Cash Investments$8,461,161$7,949,592▼ $511,569
Investments Other Securities$545,956$564,245▲ $18,289
Pledges and Grants Receivable-$110,283-
Intangible Assets$71,889$62,908▼ $8,981
Prepaid Expenses and Deferred Charges$57,174$46,854▼ $10,320
Land, Buildings, and Equipment, Net$19,605$19,192▼ $413
Total Assets$53,690,802$47,596,733▼ $6,094,069
Other Assets Total$3,000$269,086▲ $266,086
Liabilities
Accounts Payable and Accrued Expenses$337,042$506,883▲ $169,841
Other Liabilities$0$265,466▲ $265,466
Total Liabilities$337,042$772,349▲ $435,307
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$53,353,760$46,824,384▼ $6,529,376
Total Net Assets Fund Balance$53,353,760$46,824,384▼ $6,529,376
Total Liabilities and Net Assets / Fund Balance$53,690,802$47,596,733▼ $6,094,069

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,253$80,749$97,002
Leasehold Improvements$2,939$4,193$7,132
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Audrey GordonPresidentFT$170,000$25,500$195,500

Board Members and Trustees

NameTitle
Kim ParatoreClerk/director
John MarozziDirector
Karen BallackDirector
Larry MillsDirector
Liza MorrisDirector
Matthew WintersDirector
Sandra BresnickDirector
Scott BernsDirector
Paula KellyTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$2,118,542
Program Service Revenue
$0
Investment Income
$-362,102
Other Revenue
$37,410
All Other Contributions
$1,174,825
Change in Net Assets
$-1,332,916

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$63,080Market Quote
Total Noncash Contributions1$63,080-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,578,812
Revenue Not Reported on Financial Statements
$215,038
Revenue Not Reported on Form 990
$-3,869,060
Total Revenue per Audited Statements
$-2,290,248
Total Revenue per Form 990
$1,793,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,969,659
Salaries, Compensation, and Employee Benefits$863,660
Grants and Similar Amounts Paid$293,447
Total Fundraising Expense$150,695
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$315,427$173,484$79,850$568,761
All Other Expenses$232,556$49,890$11,608$294,054
Foreign Grants$293,447--$293,447
Current Officers, Directors, Trustees, and Key Employees$161,625$21,550$32,325$215,500
Fees for Service Investment Mgmnt Fees-$215,038-$215,038
Other Expenses$111,146--$111,146
Fees for Services Legal$59,381$8,550-$67,931
Payroll Taxes$38,720$15,523$8,879$63,122
Fees for Services Accounting-$62,256-$62,256
Occupancy$11,036$41,871$2,273$55,180
Fees for Services Other$7,581$13,050$6,075$26,706
Office Expenses-$18,946$4,109$23,055
Depreciation Depletion$8,981$8,748-$17,729
Insurance-$17,126-$17,126
Other Employee Benefits$12,244$120$3,913$16,277
Travel$690$1,294$1,663$3,647
Conferences and Meetings-$367-$367
Total Functional Expenses$2,328,258$647,813$150,695$3,126,766

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,239,128
Total Expenses per Form 990$3,126,766
Expenses per Audited Statements$2,911,728
Expenses Not Reported on Form 990$1,327,400
Expenses Not Reported on Financial Statements$215,038
International Activity

International Summary

Offices
0
Employees
0
Spending
$293,447

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumGrant Making---$237,341
South AmericaGrant Making---$37,356
CaribbeanGrant Making---$18,750
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$224,459
Fundraising Direct Expenses$187,049
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Now Gala$596,491$157,831$131,526$26,305
Golf Tournament - Team Zoey$166,789$42,892$35,743$7,149
Total Events$928,124$224,459$187,049$37,410
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$265,466
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Audrey gordon who is the president is the sister of leslie gordon who is the volunteer medical director. Scott berns, who is a director and husband of leslie gordon (volunteer medical director), the brother-in-law of audrey gordon (president). The president also serves as prf's executive director. Her role as president, as with all corporate prf officers, is a volunteer position; her role as ed is a paid staff position.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the president, executive director and the treasurer.

Form 990, Part VI, Section B, Line 12C

Discussed at annual board meetings.

Form 990, Part VI, Section B, Line 15

The ed's salary for 2022 was determined by the independent voting members after review of the duties performed and data as to comparablecompensation for similarly qualified persons. There were no other compensated officers or key employees in 2022.

Form 990, Part VI, Section C, Line 19

All documents are available upon request, financial statements are also available on the organization website.

Filing and Contact Details

Filer

Filer Name
Progeria Research Foundation Inc
EIN
04-3460220
Phone
9785352594
Address
PO BOX 3453, PEABODY, MA 01961-3453

Signing Officer

Name
Audrey Gordon Esq
Title
President, Executive Director
Phone
9785352594
Signed
2023-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Audrey Gordon Esq
Formed
1999
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
8
Employees
15
Volunteers
75

Preparer

Firm
Litmangerson Associates Llp
Address
500 W CUMMINGS PARK SUITE 5650, WOBURN, MA 01801
Preparer
Marci J Cohen
Phone
7815694700
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D, Other Program Services

Diagnostic testing: prf developed a diagnostic test for progeria in the wake of the 2003 gene discovery so that children, their families and medical caretakers can for the first time be given a definitive scientific diagnosis. This can translate into earlier diagnosis, fewer misdiagnoses and early medical intervention to ensure a better quality of life for the children. Medical & research database: the database is a collection of medical records of progeria patients from all over the world. The data is rigorously analyzed to determine the best course of treatments to improve the patients' quality of life. This information is invaluable for the attending physician to guide the family through the best course of action. Database material was used to create prf's comprehensive healthcare recommendations handbook on progeria aimed at optimizing quality of life. The database was also critical in determining the primary clinical outcome parameter for the progeria clinical drug trials. Website/public awareness: in 2019, the prf website was updated. Progeriaresearch.org provides visitors with access to the latest information on progeria research, support, and education for families and caregivers. In addition, prf's social media presence and media exposure help raise awareness of the ultra-rare disease globally. Prf translation program: in touch with the world. With a prominent global outreach, prf eliminates barriers of communication for patients and their families around the world. This initiative has succeeded in translating prf program and medical care materials into over 38 different languages. The foundation edits and publishes the progeria handbook, a guide for families and health care providers of children with progeria. It is published in english and several other languages to allow its use throughout the world. The foundation maintains an international progeria registry containing centralized information on children and families living with progeria. This assures rapid distribution of any new information that may benefit the children. Prf organizes scientific conferences that bring together scientists and clinicians from all over the world to share their expertise and cutting edge scientific data, and foster collaboration in the fight against progeria and other aging related illnesses. Clinical trials 2022: one final patient visit to boston took place for the 2-drug trial. As with all previous trial visits, the patient underwent a series of tests and received a new drug supply of lonafarnib which he/she will continue to take at home, as this fda-approved drug is the standard of care. Now that all patient visits have been completed, the trial team is evaluating the data to determine whether the 2-drug combination of everolimus plus lonafarnib is a more effective treatment for progeria than lonafarnib alone. In addition, four nave children came to boston to undergo testing and obtain lonafarnib for the prolon 3 (lonafarnib extension) trial, which allows children who are unable to obtain lonafarnib in their home country to receive this life extending treatment through this trial, while also gathering important disease-related data.

Form 990, Part IX, Line 24E

Diagnostic testing: program service expenses 96,729. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,729. Medical and research database: program service expenses 79,101. Management and general expenses 0. Fundraising expenses 0. Total expenses 79,101. Printing: program service expenses 24,251. Management and general expenses 0. Fundraising expenses 9,296. Total expenses 33,547. Computer expenses: program service expenses 0. Management and general expenses 26,196. Fundraising expenses 0. Total expenses 26,196. Media expense: program service expenses 22,268. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,268. Online processing fees: program service expenses 0. Management and general expenses 13,304. Fundraising expenses 0. Total expenses 13,304. Postage and shipping: program service expenses 5,557. Management and general expenses 4,958. Fundraising expenses 2,312. Total expenses 12,827. Research activities: program service expenses 4,015. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,015. Dues and subscriptions: program service expenses 0. Management and general expenses 3,766. Fundraising expenses 0. Total expenses 3,766. Professional development: program service expenses 0. Management and general expenses 1,666. Fundraising expenses 0. Total expenses 1,666. Patient handbooks: program service expenses 635. Management and general expenses 0. Fundraising expenses 0. Total expenses 635.

FORM 990, PART XII, LINE 2C:

The organization has not changed its oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

The organization accounts for the uncertainty in income taxes in accordance with the provisions of fasb asc topic no. 740 income taxes (asc 740), which prescribes a recognition threshold of more likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements. When necessary, the organization accounts for interest and penalties related to uncertain tax positions as part of its provision for income taxes. The organization does not expect that unrecognized tax benefits arising from tax positions will change significantly within the next 12 months.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT
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IRS990/MissionDesc0DISCOVER TREATMENTS & CURE FOR PROGERIA & ITS AGING RELATED DISORDERS, INCLUDING HEART DISEASE.
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IRS990/OtherExpensesGrp/Desc0DRUG TRIAL
IRS990/OtherExpensesGrp/Desc1FUTURE TRIAL EFFORTS
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROGERIA DRUG TRIAL: THE PROGERIA RESEARCH FOUNDATION AND BOSTON CHILDREN'S HOSPITAL CONTINUE THEIR PARTNERSHIP FOR CONDUCTING CLINICAL DRUG TRIALS FOR CHILDREN WITH PROGERIA.THE CLINICAL TRIAL TEAM: A TEAM OF PROFESSIONALS AT BOSTON CHILDREN'S HOSPITAL AND BRIGHAM & WOMEN'S HOSPITAL IS WORKING WITH CHILDREN WITH PROGERIA FROM AROUND THE GLOBE.(SEE SCHEDULE O FOR CONTINUATION) THE PROGERIA 2-DRUG, PHASE I/II TRIALIN 2015, PRF OBTAINED ALL NECESSARY APPROVALS FOR ITS THIRD TYPE OF CLINICAL TRIAL, WHICH WILL ASSESS A TWO-DRUG COMBINATION OF LONAFARNIB AND EVEROLIMUS. EVEROLIMUS IS A FORM OF THE DRUG RAPAMYCIN, BUT EVEROLIMUS CAN BE MORE EASILY GIVEN TO CHILDREN WITH PROGERIA. EVEROLIMUS TARGETS A DIFFERENT PATHWAY THAN LONAFARNIB, AND THE TRIAL IS DESIGNED TO DETERMINE IF THE COMBINATION PROVIDES A BETTER TREATMENT THAN THE FDA-APPROVED LONAFARNIB ON ITS OWN. THE PROGRESS OF THIS TRIAL IS DETAILED BELOW.IN 2016, PHASE I BEGAN. THE PURPOSE OF A PHASE I TRIAL IS TO DETERMINE THE SAFEST MAXIMUM DOSAGE OF A DRUG. PHASE I WAS COMPLETED IN MID-2017. IN JULY 2017, FOLLOWING THE SUCCESSFUL COMPLETION OF PHASE I, THE CLINICAL TRIAL MOVED ONTO PHASE II. PHASE II OF THE TRIAL TESTS THE EFFECTIVENESS OF THE 2-DRUG COMBINATION. FROM 2016 THROUGH 2020, 60 CHILDREN AND YOUNG ADULTS WITH PROGERIA FROM 26 COUNTRIES SPEAKING 16 LANGUAGES WERE ENROLLED AND TRAVELED TO BOSTON FOR THEIR TRIAL VISITS AT BOSTON CHILDREN'S HOSPITAL, WHERE THEY UNDERWENT A SERIES OF TESTS AND RECEIVED NEW DRUG SUPPLY. IN 2022, THE 20+-MEMBER TRIAL TEAM BEGAN TO EVALUATE THE 2-DRUG TRIAL DATA TO DETERMINE WHETHER THE 2-DRUG COMBINATION OF EVEROLIMUS PLUS LONAFARNIB IS A MORE EFFECTIVE TREATMENT FOR PROGERIA THAN LONAFARNIB ALONE.GAIN ON SALE OF PRIORITY REVIEW VOUCHERS: IN JANUARY 2021, PURSUANT TO THE COLLABORATION AND SUPPLY AGREEMENT ENTERED INTO BY THE ORGANIZATION, THE ORGANIZATION AND AN UNRELATED PARTY REACHED AN AGREEMENT WITH A THIRD PARTY FOR THE SALE OF U.S. FOOD AND DRUG ADMINISTRATION PRIORITY REVIEW VOUCHER. THE ORGANIZATION'S SHARE OF THE PROCEEDS WAS $47,442,250. THE ORGANIZATION RECOGNIZED A GAIN RELATED TO THIS SALE DURING THE YEAR ENDED DECEMBER 31, 2021 TOTALING $46,493,405, WHICH REPRESENTS THEIR SHARE OF THE PROCEEDS LESS CERTAIN SELLING COSTS OF $948,845.
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IRS990/ProgSrvcAccomActy3Grp/Desc0FUTURE TRIAL EFFORTS: PRF ENGAGES MEMBERS IN THE SCIENTIFIC COMMUNITY WITH EXPERTISE IN VARIOUS DRUGS AND/OR GENETIC THERAPIES FOR THE TREATMENT AND POTENTIAL CURE FOR PROGERIA. THE INVESTIGATION AND COLLABORATIVE EVALUATION OF DRUG THERAPIES IS PURSUED TO IDENTIFY DRUG CANDIDATES/GENETIC THERAPIES THAT CAN LEAD TO FUTURE CLINICAL TRIALS.
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0SUMMARY OF FACTS AND CIRCUMSTANCES WHICH ESTABLISH THAT THE PROGERIA RESEARCH FOUNDATION (PRF) IS IN THE NATURE OF AN ORGANIZATION THAT IS PUBLICLY SUPPORTED.THE MISSION OF THE PROGERIA RESEARCH FOUNDATION (PRF) IS TO FIND TREATMENTS AND THE CURE FOR HUTCHINSON-GILFORD PROGERIA (PROGERIA) SYNDROME, A FATAL, ULTRA-RARE, "RAPID AGING" DISEASE THAT AFFLICTS CHILDREN WHO, WITHOUT TREATMENT, DIE AT AN AVERAGE AGE OF 14 YEARS.PRF HAS SOLICITED CONTRIBUTIONS FROM THE GENERAL PUBLIC FROM ITS INCEPTION IN 1999. PRF HAS REPORTED THE FOLLOWING PERCENTAGES OF PUBLIC SUPPORT FOR THE PAST 7 YEARS:2021 = 19.71%2020 = 74.45%2019 = 75.54%2018 = 86.54%2017 = 94.36%2016 = 94.36%2015 = 90.84%AS ILLUSTRATED ABOVE, PRIOR TO RECEIVING THE EXTRAORDINARY FUNDING IN 2021, PRF'S PERCENTAGE OF PUBLIC SUPPORT SIGNIFICANTLY EXCEEDED 33 1/3%. PRF CONTINUES ALL FUNDRAISING EFFORTS AND EXPECTS TO RETURN TO THE 33 1/3% OF PUBLIC SUPPORT IN THE COMING YEARS.NUMBER OF DONORS FOR THE PAST 7 YEARS:2021 = 2,4412020 = 2,7862019 = 3,2452018 = 3,6702017 = 3,8592016 = 4,1462015 = 4,097WITH A PROGRAM RATIO THAT MEETS OR EXCEEDS 80% EACH YEAR, PRF EXPENDS SUBSTANTIALLY ALL OF ITS ANNUAL INCOME FOR ITS EXEMPT PURPOSE AND DEPENDS ON THE FUNDS IT SOLICITS ANNUALLY FROM THE PUBLIC AS WELL AS ITS INVESTMENT INCOME TO SUPPORT THEIR PROGRAMS ON AN ONGOING BASIS. FOR ITS ENTIRE EXISTENCE PRF HAS BEEN RELENTLESSLY FOCUSED ON FINDING TREATMENTS AND THE CURE FOR PROGERIA.IN NOVEMBER 2020, FEDERAL FOOD AND DRUG ADMINISTRATION (FDA) APPROVAL WAS GRANTED FOR LONAFARNIB (ALSO KNOWN AS ZOKINVY) FOR THE TREATMENT OF PROGERIA. THE PRF-FUNDED CLINICAL DRUG TRIAL INVOLVING LONAFARNIB PROVIDED SIGNIFICANT DATA AND ANALYSIS FOR THE NEW DRUG APPLICATION (NDA) THAT LED TO APPROVAL. AS A DIRECT RESULT OF THIS APPROVAL, AND IN ACCORDANCE WITH THE FEDERAL FOOD, DRUG, AND COSMETIC ACT (FD&C ACT), THE FDA AWARDED A PRIORITY REVIEW VOUCHER (PRV) TO THE SPONSOR OF THIS RARE PEDIATRIC DISEASE PRODUCT NDA. IN 2021, PURSUANT TO A COLLABORATION AGREEMENT WITH THE SPONSOR, PRF RECEIVED PROCEEDS ON THE SALE OF THE PRV IN THE AMOUNT OF $46,493,405. IT IS THE INTENTION OF PRF TO USE THIS EXTRAORDINARY FUNDING TO SUPPORT THE NEXT GENERATION OF RESEARCH AND FUTURE DRUG TRIALS THAT WILL LEAD TO MORE ADVANCED TREATMENTS AND, ULTIMATELY, THE CURE FOR PROGERIA.ANNUALLY, PRF SOLICITS CONTRIBUTIONS FROM THE PUBLIC TO SUPPORT ITS ONGOING PROGRAMS AND SERVICES. FUNDRAISING EFFORTS INCLUDE THE FOLLOWING:A. VOLUNTEER-LED EVENTS (GOLF TOURNAMENTS, MOTORCYCLE RIDES, ETC.)B. AN ANNUAL 5K RUN, 2-MILE WALK RACE IN PEABODY, MA WITH 300 PARTICIPANTSC. THE ANNUAL FALMOUTH ROAD RACE, WITH A TEAM OF OVER 20 RUNNERSD. THE ANNUAL BOSTON MARATHON, WITH A 2-PESON TEAME. BI-ANNUAL GALA & AUCTION, INCLUDING 350 GUESTSF. BI-ANNUAL GOLF TOURNAMENT, WITH NEARLY 100 PLAYERSG. MAILING AND SOCIAL MEDIA CAMPAIGNS: MID-YEAR "ONE POSSIBLE AND END OF YEAR "GIVING TUESDAY", AMONG OTHERS.FUNDS RAISED ARE USED TO SUPPORT THE FOLLOWING PROGRAMS:A. ONGOING CLINICAL DRUG TRIAL AT BOSTON CHILDREN'S HOSPITALB. RESEARCH GRANTS FOR THE ADVANCEMENT OF DISEASE UNDERSTANDING AND TREATMENTC. RESEARCH FOR POTENTIAL FUTURE CLINICAL TRIALSD. THE PRF DIAGNOSTIC TESTING PROGRAME. THE PRF CELL & TISSUE BANKF. THE PRF MEDICAL & RESEARCH DATABASEG. PRF-ORGANIZED SCIENTIFIC CONFERENCESH. WEBSITE FOR PUBLIC AWARENESS AND COMMUNICATIONI. THE PROGERIA HANDBOOK A TREATMENT GUIDE FOR FAMILIES AND HEALTH CARE PROVIDERS OF THOSE WITH PROGERIAJ. THE PRF INTERNATIONAL PROGERIA REGISTRYK. PRF'S TRANSLATION PROGRAML. DEVELOPMENT OF A BIOMARKER TO MEASURE THE DISEASE-CAUSING TOXIC PROTEIN, PROGERIN PRF HAS A NINE-MEMBER BOARD OF DIRECTORS. BOARD MEMBERS' PROFESSIONAL BACKGROUNDS INCLUDE THE LEGAL, ACCOUNTING, PUBLIC RELATIONS, EVENT PLANNING FIELDS AS WELL AS EXECUTIVE LEADERSHIP AND MANAGEMENT OF FOR-PROFIT BUSINESSES. THE BOARD PROVIDES OVERSIGHT OF OPERATIONS AND PROGRAMS TO ENSURE NO ACTIVITIES ARE FOR THE BENEFIT OF PRIVATE INTERESTS.ON AN ANNUAL BASIS, PRF NORMALLY RECEIVES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACCOUNTS FOR THE UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH THE PROVISIONS OF FASB ASC TOPIC NO. 740 INCOME TAXES (ASC 740), WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY-THAN-NOT, AND A MEASUREMENT ATTRIBUTE FOR ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN, IN ORDER FOR THOSE TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. WHEN NECESSARY, THE ORGANIZATION ACCOUNTS FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS AS PART OF ITS PROVISION FOR INCOME TAXES. THE ORGANIZATION DOES NOT EXPECT THAT UNRECOGNIZED TAX BENEFITS ARISING FROM TAX POSITIONS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT 12 MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SOUTH AMERICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2CARIBBEAN
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0GRANT MAKING
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1GRANT MAKING
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2GRANT MAKING
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IRS990ScheduleF/ContinuationTotalOfficeCnt00
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt10

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$48.0$0.63$47.4$3.65$5.90$2.25
2023Detailed filing. Detailed filing data is available for this year.$48.8$0.59$48.3$2.23$3.93$1.70
2022Detailed filing. Detailed filing data is available for this year.$47.6$0.77$46.8$1.79$3.13$1.33
2021Detailed filing. Detailed filing data is available for this year.$53.7$0.34$53.4$49.2$3.16$46.1
2020Detailed filing. Detailed filing data is available for this year.$6.95$0.42$6.53$2.21$2.62$0.41
2019Detailed filing. Detailed filing data is available for this year.$7.45$0.51$6.94$5.05$2.65$2.40
2018Detailed filing. Detailed filing data is available for this year.$5.03$0.48$4.54$2.88$2.52$0.36
2017Detailed filing. Detailed filing data is available for this year.$4.51$0.33$4.18$2.15$2.36$0.22
2016Detailed filing. Detailed filing data is available for this year.$4.78$0.39$4.39$3.17$2.65$0.52
2015Summary only. Only limited summary data is available for this year.$4.31$0.43$3.87$2.02$2.82$0.81
2014Summary only. Only limited summary data is available for this year.$5.08$0.43$4.65$2.74$2.58$0.16
2013Summary only. Only limited summary data is available for this year.$4.23$0.20$4.03$2.72$2.37$0.35
2012Summary only. Only limited summary data is available for this year.$3.74$0.05$3.69$1.81$1.58$0.23
2011Summary only. Only limited summary data is available for this year.$3.56$0.11$3.45$2.03$1.37$0.66
2010Summary only. Only limited summary data is available for this year.$2.82$0.03$2.79$1.70$1.24$0.46