Civic Intelligence

Midwest Cardiovascular Research Foundation

EIN 05-0529623 • 501(c)3 • Davenport, IA

Profile

Midwest cardiovascular research foundation (mcrf) is engaged in the continous active conduct of medical research, including the investigations, experiments, and studies to discover, develop or verify knowledge relating to the causes, diagnosis treatment, prevention or control of cardiovascular disease by conducting these clinical trials.

630 E 4th St Ste ADavenport, IA 52801

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.61x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.93x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

50th percentile

4.4%

Higher net margin than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

65th percentile

$96,000

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

18th percentile

-8.3%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-21%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,865,779

Down $168,899 (-8.3%) from 2023

Liabilities

Down

$1,131,000

Down $222,445 (-16%) from 2023

Net Assets

Up

$734,779

Up $53,546 (+7.9%) from 2023

Operations
Liabilities / Revenue88th percentileNet Margin50th percentile

Revenue

Down

$1,221,400

Down $331,899 (-21%) from 2023

Expenses

Down

$1,167,854

Down $349,948 (-23%) from 2023

Net Income

Up

$53,546

Up $18,049 (+51%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth18th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $321,900Liabilities 2011: $356,458Net Assets 2011: -$34,5582011Assets 2013: $293,096Liabilities 2013: $330,967Net Assets 2013: -$37,8712013Assets 2014: $376,960Liabilities 2014: $310,994Net Assets 2014: $65,9662014Assets 2015: $370,036Liabilities 2015: $293,529Net Assets 2015: $76,5072015Assets 2016: $699,134Liabilities 2016: $424,306Net Assets 2016: $274,8282016Assets 2017: $1,318,481Liabilities 2017: $967,287Net Assets 2017: $351,1942017Assets 2018: $1,658,750Liabilities 2018: $1,202,306Net Assets 2018: $456,4442018Assets 2019: $1,253,117Liabilities 2019: $866,594Net Assets 2019: $386,5232019Assets 2020: $1,353,506Liabilities 2020: $988,611Net Assets 2020: $364,8952020Assets 2021: $2,829,476Liabilities 2021: $2,446,601Net Assets 2021: $382,8752021Assets 2022: $2,598,340Liabilities 2022: $1,952,604Net Assets 2022: $645,7362022Assets 2023: $2,034,678Liabilities 2023: $1,353,445Net Assets 2023: $681,2332023Assets 2024: $1,865,779Liabilities 2024: $1,131,000Net Assets 2024: $734,7792024

Highlighted filing

2024

Assets$1,865,779
Liabilities$1,131,000
Net Assets$734,779
Open 2024 Filing

Operations Trend

Revenue Growth15th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $466,5832011Revenue 2013: $276,569Expenses 2013: $204,063Net Income 2013: $72,5062013Revenue 2014: $321,631Expenses 2014: $217,793Net Income 2014: $103,8382014Revenue 2015: $320,904Expenses 2015: $310,363Net Income 2015: $10,5412015Revenue 2016: $604,256Expenses 2016: $405,858Net Income 2016: $198,3982016Revenue 2017: $937,325Expenses 2017: $860,960Net Income 2017: $76,3652017Revenue 2018: $1,332,379Expenses 2018: $1,227,129Net Income 2018: $105,2502018Revenue 2019: $1,016,993Expenses 2019: $1,086,917Net Income 2019: -$69,9242019Revenue 2020: $988,025Expenses 2020: $1,009,653Net Income 2020: -$21,6282020Revenue 2021: $1,191,778Expenses 2021: $1,173,798Net Income 2021: $17,9802021Revenue 2022: $1,525,149Expenses 2022: $1,262,288Net Income 2022: $262,8612022Revenue 2023: $1,553,299Expenses 2023: $1,517,802Net Income 2023: $35,4972023Revenue 2024: $1,221,400Expenses 2024: $1,167,854Net Income 2024: $53,5462024

Highlighted filing

2024

Revenue$1,221,400
Expenses$1,167,854
Net Income$53,546
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,865,779
Liabilities
$1,131,000
Net assets
$734,779
Revenue
$1,221,400
Expenses
$1,167,854
Net income
$53,546
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.87$1.13$0.73$1.22$1.17$0.05
2023Detailed filing. Detailed filing data is available for this year.$2.03$1.35$0.68$1.55$1.52$0.04
2022Detailed filing. Detailed filing data is available for this year.$2.60$1.95$0.65$1.53$1.26$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.83$2.45$0.38$1.19$1.17$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.35$0.99$0.36$0.99$1.01$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.25$0.87$0.39$1.02$1.09$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.66$1.20$0.46$1.33$1.23$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.32$0.97$0.35$0.94$0.86$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.70$0.42$0.27$0.60$0.41$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.37$0.29$0.08$0.32$0.31$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.38$0.31$0.07$0.32$0.22$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.29$0.33$0.04$0.28$0.20$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.36$0.03$0.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 8, 2025
Return Version
2024v5.1
Gross Receipts
$1,221,400
Mission and Program Overview

Mission

Midwest cardiovascular research foundation mcrf is engaged in the continous active conduct of medical research, including the investigations, experiments, and studies to discover, develop or verify knowledge relating to the causes, diagnosis treatment, preventiion or control of cardiovascular disease. By conducting these clinical trials, mcrf will generate data leadin

Midwest cardiovascular research foundation (mcrf) is engaged in the continous active conduct of medical research, including the investigations, experiments, and studies to discover, develop or verify knowledge relating to the causes, diagnosis treatment, prevention or control of cardiovascular disease by conducting these clinical trials.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,315,000$1,115,000▼ $200,000
Rtn Earn Endowment Incm Other Fnds$681,233$734,779▲ $53,546
Savings and Temporary Cash Investments$492,222$390,222▼ $102,000
Cash and Non-Interest-Bearing Accounts$137,625$276,271▲ $138,646
Land, Buildings, and Equipment, Net$71,901$54,616▼ $17,285
Prepaid Expenses and Deferred Charges$17,930$18,017▲ $87
Accounts Receivable-$11,653-
Total Assets$2,034,678$1,865,779▼ $168,899
Liabilities
Grants Payable$1,315,000$1,115,000▼ $200,000
Accounts Payable and Accrued Expenses$38,445$16,000▼ $22,445
Deferred Revenue$0$0→ $0
Total Liabilities$1,353,445$1,131,000▼ $222,445
Net Assets / Fund Balance
Total Net Assets Fund Balance$681,233$734,779▲ $53,546
Total Liabilities and Net Assets / Fund Balance$2,034,678$1,865,779▼ $168,899

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$324,519$324,519
Equipment$54,616$119,530$174,146
Other Land Buildings$0$60,352$60,352
Buildings$0-$0
Land$0-$0
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr ShammasDirectorPT$96,000$96,000

Board Members and Trustees

NameTitle
David AndichDirector
Gail ShammasDirector
Nicholas CoinDirector
Richard BurnsDirector
Shawna DuskeDirector
Steven LandauerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$225,550
Program Service Revenue
$995,850
Investment Income
$0
Other Revenue
$0
All Other Contributions
$225,550
Change in Net Assets
$53,546
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$660,406
Other Expenses$507,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$436,159$57,386$0$493,545
Occupancy$31,471$200,000$0$231,471
Current Officers, Directors, Trustees, and Key Employees$96,000$0$0$96,000
Office Expenses$50,444$0$0$50,444
Fees for Services Accounting$47,013$0$0$47,013
Payroll Taxes$32,477$4,359$0$36,836
Other Employee Benefits$28,888$3,529$0$32,417
Information Technology$25,749$0$0$25,749
Depreciation Depletion$22,401$0$0$22,401
Insurance$20,063$0$0$20,063
Conferences and Meetings$8,343$0$0$8,343
Pension Plan Contributions$1,556$52$0$1,608
Advertising$650$0$0$650
Other Expenses$0$100$0$100
Total Functional Expenses$902,428$265,426$0$1,167,854
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Midwest Cardiovascular Research Foundation
EIN
05-0529623
Phone
5633242828
Address
630 E 4TH ST STE A, DAVENPORT, IA 52801

Signing Officer

Name
Nicholas Shammas
Title
President
Phone
5633242828
Signed
2025-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas Shammas
Formed
2002
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
12
Volunteers
0

Preparer

Firm
MSP Tax & Accounting LLC
Address
201 W 2nd St STE 805, Davenport, IA 52801
Preparer
Jordan W Richardson
Phone
3095815005
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A draft copy of the annual 990 tax return is reviewed by the board of directors prior to the filing of the return”

Pt VI, Line 19

“The governing documents, conflict of interest policy and the financial statements are made available upon request”

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IRS990/OtherExpensesGrp/FundraisingAmt20
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04359
IRS990/PayrollTaxesGrp/ProgramServicesAmt032477
IRS990/PayrollTaxesGrp/TotalAmt036836
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt052
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IRS990/PensionPlanContributionsGrp/TotalAmt01608
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IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0RESEARCH TRIALS
IRS990/ProgramServiceRevenueGrp/Desc1RESEARCH CONFERENCES
IRS990/ProgramServiceRevenueGrp/Desc2HEALTH CLINIC INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt187213
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
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IRS990/PYContributionsGrantsAmt0200050
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IRS990/PYInvestmentIncomeAmt022222
IRS990/PYOtherExpensesAmt0707988
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IRS990/PYRevenuesLessExpensesAmt035497
IRS990/PYSalariesCompEmpBnftPaidAmt0809814
IRS990/PYTotalExpensesAmt01517802
IRS990/PYTotalRevenueAmt01553299
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt053546
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0734779
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0390222
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IRS990ScheduleA/HospitalNameAndAddressGrp/StateAbbreviationCd1IL
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IRS990ScheduleA/HospitalNameAndAddressGrp/SupportedOrganizationName/BusinessNameLine1Txt1UNITY POINT HOSPITAL
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0119530
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0174146
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0310000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0NICHOLAS W SHAMMAS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE ANNUAL 990 TAX RETURN IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO THE FILING OF THE RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0225550
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0265426
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0902428
IRS990/TotalFunctionalExpensesGrp/TotalAmt01167854
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt01131000
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IRS990/TotalLiabilitiesGrp/EOYAmt01131000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0681233
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0734779
IRS990/TotalProgramServiceExpensesAmt0902428
IRS990/TotalProgramServiceRevenueAmt0995850
IRS990/TotalReportableCompFromOrgAmt096000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0995850
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01221400
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02034678
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01865779
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0630 E 4TH ST STE A
IRS990/USAddress/CityNm0DAVENPORT
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052801
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAS SHAMMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05633242828
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST CARDIOVASCULAR RESEARCH FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0050529623
ReturnHeader/Filer/PhoneNum05633242828
ReturnHeader/Filer/USAddress/AddressLine1Txt0630 E 4TH ST STE A
ReturnHeader/Filer/USAddress/CityNm0DAVENPORT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052801

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