Civic Intelligence

Foundation for Mitochondrial Medicine Inc

990 • Fiscal year 2016 • EIN 20-3697012

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 07, 2017

1266 W Paces Ferry Road No 301Atlanta, GA 30327

(888) 448-1495

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

28th percentile

-6.8%

Higher net margin than 28% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

25th percentile

-13%

Faster asset growth than 25% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

37th percentile

-7.3%

Faster revenue growth than 37% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$106,978

Down $16,512 (-13%) from 2015

Net Assets

Down

$106,978

Down $16,512 (-13%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Down

$243,751

Down $19,273 (-7.3%) from 2015

Expenses

Up

$260,263

Up $29,374 (+13%) from 2015

Net Income

Down

-$16,512

Down $48,647 (-151%) from 2015

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2011: $316,738Liabilities 2011: $0Net Assets 2011: $316,7382011Assets 2012: $306,168Liabilities 2012: $0Net Assets 2012: $306,1682012Assets 2013: $131,431Liabilities 2013: $0Net Assets 2013: $131,4312013Assets 2014: $91,355Liabilities 2014: $0Net Assets 2014: $91,3552014Assets 2015: $123,490Liabilities 2015: $0Net Assets 2015: $123,4902015Assets 2016: $106,978Liabilities 2016: $0Net Assets 2016: $106,9782016Assets 2017: $65,492Liabilities 2017: $0Net Assets 2017: $65,4922017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2016

Assets$106,978
Liabilities$0
Net Assets$106,978

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $173,036Expenses 2011: $208,149Net Income 2011: -$35,1132011Expenses 2012: $289,6842012Revenue 2013: $235,777Expenses 2013: $410,514Net Income 2013: -$174,7372013Revenue 2014: $282,578Expenses 2014: $322,654Net Income 2014: -$40,0762014Revenue 2015: $263,024Expenses 2015: $230,889Net Income 2015: $32,1352015Revenue 2016: $243,751Expenses 2016: $260,263Net Income 2016: -$16,5122016Revenue 2017: $176,280Expenses 2017: $217,766Net Income 2017: -$41,4862017Revenue 2018: $96,098Expenses 2018: $161,590Net Income 2018: -$65,4922018

Highlighted filing

2016

Revenue$243,751
Expenses$260,263
Net Income-$16,512
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 7, 2017
Return Version
2016v3.0
Gross Receipts
$339,451
Mission and Program Overview

Mission

To hasten the development of effective treatments for mitochondrial disease.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$123,490$106,978▼ $16,512
Total Assets$123,490$106,978▼ $16,512
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$115,095$70,078▼ $45,017
Temporarily Rstr Net Assets$8,395$36,900▲ $28,505
Total Net Assets Fund Balance$123,490$106,978▼ $16,512
Total Liabilities and Net Assets / Fund Balance$123,490$106,978▼ $16,512
Compensation and Service Providers

Board Members and Trustees

NameTitle
Anthony SosciaDirector
Chris BenecchiDirector
Daniela CampariDirector
David EdmistonDirector
Dick BogerDirector
Dr Keith HylandDirector
Frank WrenDirector
Gene WilliamsDirector
Terri WrenDirector
Todd LaceyDirector
Laura StanleyExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$339,451
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-95,700
All Other Contributions
$114,400
Change in Net Assets
$-16,512
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$215,263
Grants and Similar Amounts Paid$45,000
Total Fundraising Expense$38,092
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$57,075$6,354$14,331$77,760
Fees for Services Management$51,450$7,350$14,701$73,501
Grants to Domestic Orgs$45,000--$45,000
Office Expenses$2,102$4,730$5,094$11,926
All Other Expenses$2,886$2,547-$5,433
Advertising$4,730-$700$5,430
Travel$4,722--$4,722
Information Technology$723$2,093$1,720$4,536
Other Expenses$3,282$0$757$4,039
Insurance-$3,150-$3,150
Conferences and Meetings$595--$595
Total Functional Expenses$191,542$30,629$38,092$260,263
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The University of Alabama at BirminghamBirmingham, AL501c(3)For Establishment of the Fmm Mitochondrial Medicine Clinical and Research Program$45,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$95,700
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Hope Flies Catch the Cure$212,681-$44,483-
Hope Flies Golf$11,015-$2,757-
Total Events$223,696-$95,700$-95,700
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
Backup withholding compliance
Yes
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
No
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

Frank wren and terri wren are married.

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

Before the form 990 is filed, a preliminary copy is provided to the board of directors for review. All issues that arise from this review are addressed, and any necessary changes are made. A final copy of the form 990 is then re-circulated to the board of directors with any additional information deemed necessary due to the changes. Upon approval of the board of directors, the form 990 is finalized and filed.

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

In the board of directors meetings, the directors discuss potential conflicts of interest including relations and the possibility of personal benefit. If the board of direcors determine that a possible conflict of interest exists, then the one in conflict removes himself/herself from the discussions and voting as it pertains to that topic.

Form 990, Part VI, Section B, Line 15A

Yes, compensation of the executive director involved a very deliberative process and comparables of other start-up non-profit companies.

Form 990, Part VI, Section C, Line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Foundation for Mitochondrial Medicine
EIN
20-3697012
Phone
8884481495
Address
1266 W PACES FERRY ROAD NO 301, ATLANTA, GA 30327

Signing Officer

Name
Laura Stanley
Title
Executive Director
Phone
8884481495
Signed
2017-09-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Stanley
Formed
2005
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
100

Preparer

Firm
Carr Riggs & Ingram LLC
Address
4360 CHAMBLEE DUNWOODY RD STE 420, ATLANTA, GA 30341
Preparer
Stanley M Smith Ii
Phone
7704576606
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4

2016 built upon key initiatives of partnerships and collaboration--a continuance of fmm's strategy to fuel connections, fund the cures, and lead the way. Our work continues to emphasize a theme of partnership and collaborative venture philanthropy. Particularly exciting is the potential of the partnership at the university of alabama at birmingham where a mitochondrial medicine program will include an integrated clinic that serves the patients' needs and provides the clinical testing protocols for diagnosing and monitoring therapeutic interventions for mitochondrial dysfunction. Here a non-invasive blood test on bioenergetics could mean a more rapid diagnostic tool for mitochondrial disease patients and a biomarker measuring mitochondrial function which can apply to not only mitochondrial disease, but also other diseases where mitochondrial dysfunction is a core element. Our programs fund treatment-oriented translational research, awareness and information projects and partnerships with related disease organizations. Today, the foundation for mitochondrial medicine has a unique opportunity to lead the way in bringing to the forefront collaboration and effective treatments for mitochondrial dysfunction across multiple diseases. Alzheimer's, parkinson's, autism, epilepsy, diabetes, lou gehrig's (als), chronic fatigue, huntington's and others all have something in common--problems with mitochondria. The list of known diseases and conditions with mitochondrial dysfunction is long--and growing longer. As scientists have learned more about the mitochondria's role in health and disease, they have concluded that mitochondrial dysfunction is at the root of diseases and conditions that affect the young and old, in ways that can range from subtle to devastating. Mitochondrial dysfunction is even responsible for the aging process itself. We believe that collaboration is the key to accelerating treatments for so many.

Form 990, Part IX, Line 11G

Contract labor: program service expenses 21,400. Management and general expenses 450. Fundraising expenses 4,900. Total expenses 26,750. Professional fees: program service expenses 35,675. Management and general expenses 5,904. Fundraising expenses 9,431. Total expenses 51,010.

Form 990, Part IX, Line 11

Fmm has a managerial agreement with its executive director and other professional services consultants to provide managerial,strategic, marketing, advancement, and communications services for the foundation.

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IRS990/PrincipalOfficerNm0LAURA STANLEY
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IRS990/ProgSrvcAccomActy2Grp/Desc0GRANT TO UNIVERSITY OF ALABAMA AT BIRMINGHAM $45,000. THIS GRANT IS A CONTRIBUTION FOR ESTABLISHMENT OF THE FMM MITOCHONDRIAL MEDICINE CLINICAL AND RESEARCH PROGRAM WHICH IS TO RESPOND TO THE UNMET CLINICAL, DIAGNOSTIC AND THERAPEUTIC NEEDS OF THE PATIENT COMMUNITY IMPACTED BY MITOCHONDRIAL DISORDERS; TO LEVERAGE UAB MITOCHONDRIAL RESEARCH IN THE FIELD OF TRANSLATIONAL BIOENERGETICS; AND TO ADDRESS THE GROWING SCIENTIFIC AND CLINICAL MARKET OF TESTING INSTRUMENTS FOR THE FIELDS OF METABOLOMICS AND BIOENERGETICS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0HELD OTHER EVENTS AND PROGRAMS TO PROMOTE AWARENESS FOR MITOCHONDRIAL DISEASE AND RAISE FUNDS FOR TREATMENT AND RESEARCH INCLUDING EVENTS AND PROGRAMS LIKE HOPE FLIES WITH THE BRAVES, PARTNERS FOR THE CURES, AND THE HOPE FLIES HEALTH SERIES. ADDITIONALLY, CONTINUED WORK TO BUILD PARTNERSHIPS AND COMMUNICATION CHANNELS WITH PARTNERS LIKE SHARECARE, BIO ASSOCIATION AND WITH RELATED DISEASE ORGANIZATIONS LIKE THE ALZHEIMER'S DRUG DISCOVERY FOUNDATION, THE GEORGIA PARKINSON'S COALITION, THE MICHAEL J. FOX FOUNDATION FOR PARKINSON'S DISEASE RESEARCH, ABBY'S HELPING HAND, THE UNIVERSITY OF ALABAMA AT BIRMINGHAM AND OTHERS.
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0HOPE FLIES CATCH THE CURE
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FOR ESTABLISHMENT OF THE FMM MITOCHONDRIAL MEDICINE CLINICAL AND RESEARCH PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE UNIVERSITY OF ALABAMA AT BIRMINGHAM
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ANNUAL SCIENTIFIC REVIEW MEETINGS WITH PARTNERING ORGANIZATIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt02016 BUILT UPON KEY INITIATIVES OF PARTNERSHIPS AND COLLABORATION--A CONTINUANCE OF FMM'S STRATEGY TO FUEL CONNECTIONS, FUND THE CURES, AND LEAD THE WAY. OUR WORK CONTINUES TO EMPHASIZE A THEME OF PARTNERSHIP AND COLLABORATIVE VENTURE PHILANTHROPY. PARTICULARLY EXCITING IS THE POTENTIAL OF THE PARTNERSHIP AT THE UNIVERSITY OF ALABAMA AT BIRMINGHAM WHERE A MITOCHONDRIAL MEDICINE PROGRAM WILL INCLUDE AN INTEGRATED CLINIC THAT SERVES THE PATIENTS' NEEDS AND PROVIDES THE CLINICAL TESTING PROTOCOLS FOR DIAGNOSING AND MONITORING THERAPEUTIC INTERVENTIONS FOR MITOCHONDRIAL DYSFUNCTION. HERE A NON-INVASIVE BLOOD TEST ON BIOENERGETICS COULD MEAN A MORE RAPID DIAGNOSTIC TOOL FOR MITOCHONDRIAL DISEASE PATIENTS AND A BIOMARKER MEASURING MITOCHONDRIAL FUNCTION WHICH CAN APPLY TO NOT ONLY MITOCHONDRIAL DISEASE, BUT ALSO OTHER DISEASES WHERE MITOCHONDRIAL DYSFUNCTION IS A CORE ELEMENT. OUR PROGRAMS FUND TREATMENT-ORIENTED TRANSLATIONAL RESEARCH, AWARENESS AND INFORMATION PROJECTS AND PARTNERSHIPS WITH RELATED DISEASE ORGANIZATIONS. TODAY, THE FOUNDATION FOR MITOCHONDRIAL MEDICINE HAS A UNIQUE OPPORTUNITY TO LEAD THE WAY IN BRINGING TO THE FOREFRONT COLLABORATION AND EFFECTIVE TREATMENTS FOR MITOCHONDRIAL DYSFUNCTION ACROSS MULTIPLE DISEASES. ALZHEIMER'S, PARKINSON'S, AUTISM, EPILEPSY, DIABETES, LOU GEHRIG'S (ALS), CHRONIC FATIGUE, HUNTINGTON'S AND OTHERS ALL HAVE SOMETHING IN COMMON--PROBLEMS WITH MITOCHONDRIA. THE LIST OF KNOWN DISEASES AND CONDITIONS WITH MITOCHONDRIAL DYSFUNCTION IS LONG--AND GROWING LONGER. AS SCIENTISTS HAVE LEARNED MORE ABOUT THE MITOCHONDRIA'S ROLE IN HEALTH AND DISEASE, THEY HAVE CONCLUDED THAT MITOCHONDRIAL DYSFUNCTION IS AT THE ROOT OF DISEASES AND CONDITIONS THAT AFFECT THE YOUNG AND OLD, IN WAYS THAT CAN RANGE FROM SUBTLE TO DEVASTATING. MITOCHONDRIAL DYSFUNCTION IS EVEN RESPONSIBLE FOR THE AGING PROCESS ITSELF. WE BELIEVE THAT COLLABORATION IS THE KEY TO ACCELERATING TREATMENTS FOR SO MANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FRANK WREN AND TERRI WREN ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEFORE THE FORM 990 IS FILED, A PRELIMINARY COPY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. ALL ISSUES THAT ARISE FROM THIS REVIEW ARE ADDRESSED, AND ANY NECESSARY CHANGES ARE MADE. A FINAL COPY OF THE FORM 990 IS THEN RE-CIRCULATED TO THE BOARD OF DIRECTORS WITH ANY ADDITIONAL INFORMATION DEEMED NECESSARY DUE TO THE CHANGES. UPON APPROVAL OF THE BOARD OF DIRECTORS, THE FORM 990 IS FINALIZED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN THE BOARD OF DIRECTORS MEETINGS, THE DIRECTORS DISCUSS POTENTIAL CONFLICTS OF INTEREST INCLUDING RELATIONS AND THE POSSIBILITY OF PERSONAL BENEFIT. IF THE BOARD OF DIRECORS DETERMINE THAT A POSSIBLE CONFLICT OF INTEREST EXISTS, THEN THE ONE IN CONFLICT REMOVES HIMSELF/HERSELF FROM THE DISCUSSIONS AND VOTING AS IT PERTAINS TO THAT TOPIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4YES, COMPENSATION OF THE EXECUTIVE DIRECTOR INVOLVED A VERY DELIBERATIVE PROCESS AND COMPARABLES OF OTHER START-UP NON-PROFIT COMPANIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACT LABOR: PROGRAM SERVICE EXPENSES 21,400. MANAGEMENT AND GENERAL EXPENSES 450. FUNDRAISING EXPENSES 4,900. TOTAL EXPENSES 26,750. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 35,675. MANAGEMENT AND GENERAL EXPENSES 5,904. FUNDRAISING EXPENSES 9,431. TOTAL EXPENSES 51,010.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FMM HAS A MANAGERIAL AGREEMENT WITH ITS EXECUTIVE DIRECTOR AND OTHER PROFESSIONAL SERVICES CONSULTANTS TO PROVIDE MANAGERIAL,STRATEGIC, MARKETING, ADVANCEMENT, AND COMMUNICATIONS SERVICES FOR THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11
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