Civic Intelligence

Foundation for Mitochondrial Medicine Inc

990 • Fiscal year 2017 • EIN 20-3697012

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 06, 2018

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.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

14th percentile

-24%

Higher net margin than 14% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

12th percentile

-39%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

18th percentile

-28%

Faster revenue growth than 18% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Down

$65,492

Down $41,486 (-39%) from 2016

Net Assets

Down

$65,492

Down $41,486 (-39%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Down

$176,280

Down $67,471 (-28%) from 2016

Expenses

Down

$217,766

Down $42,497 (-16%) from 2016

Net Income

Down

-$41,486

Down $24,974 (-151%) from 2016

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

2017

Assets$65,492
Liabilities$0
Net Assets$65,492

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

2017

Revenue$176,280
Expenses$217,766
Net Income-$41,486
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 6, 2018
Return Version
2017v2.3
Gross Receipts
$262,246
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$106,978$65,492▼ $41,486
Total Assets$106,978$65,492▼ $41,486
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$70,078$60,492▼ $9,586
Temporarily Rstr Net Assets$36,900$5,000▼ $31,900
Total Net Assets Fund Balance$106,978$65,492▼ $41,486
Total Liabilities and Net Assets / Fund Balance$106,978$65,492▼ $41,486
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$254,364
Program Service Revenue
$7,882
Investment Income
$0
Other Revenue
$-85,966
All Other Contributions
$45,729
Change in Net Assets
$-41,486
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$217,766
Total Fundraising Expense$30,995
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$51,450$7,350$14,700$73,500
Fees for Services Other$54,280$6,335$12,400$73,015
Conferences and Meetings$19,401--$19,401
Information Technology$1,667$1,674$3,831$7,172
Advertising$5,195--$5,195
Office Expenses$3,665$1,378$64$5,107
Insurance-$3,578-$3,578
All Other Expenses$2,578$499-$3,077
Other Expenses$2,975$3,086-$2,975
Travel$2,175$10-$2,185
Total Functional Expenses$158,196$28,575$30,995$217,766
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$85,966
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Hope Flies Catch the Cure$206,557-$32,919-
Total Events$206,557-$85,966$-85,966
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 directors determines that a possible conflict of interest exists, then the indivdual in conflict removes himself/herself from the discussions and voting, as it pertains to that topic.

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

Compensation of the executive director involves a very deliberative process and comparables of other start-up, non-profit companies in the respective area.

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
2018-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Stanley
Formed
2005
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
8
Employees
0
Volunteers
100

Preparer

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

Additional Explanations

FORM 990, PAGE 2, PART III, LINE 4:

2017 was another year 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, building upon past program support of innovative research, like the bioenergetics health index coming out of the university of alabama at birmingham, which is a developing biomarker measuring mitochondrial function, applicable not only to mitochondrial disease, but also other neurodegenerative diseases where mitochondrial dysfunction is a core element. Fmm enjoys the opportunity to leverage and expand synergistic relationships across multiple disease states. Alzheimer's, parkinson's, autism, muscular dystrophy, epilepsy, diabetes, als, chronic fatigue, huntington's and others all have something in common- problems with the 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

Professional fees: program service expenses 54,280. Management and general expenses 6,335. Fundraising expenses 12,400. Total expenses 73,015.

FORM 990, PART IX, LINE 11A:

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.

Raw XML AppendixShowing 400 of 406 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0FMM'S MISSION IS TO SUPPORT THE DEVELOPMENT OF THE MOST PROMISING RESEARCH AND TREATMENTS FOR THE MANY, MANY FORMS OF MITOCHONDRIAL DISEASE; INCLUDING IMPROVING LIVES OF THOSE WITH DISEASE THROUGH BETTER, FASTER LESS INVASIVE DIAGNOSTICS AND TO FUND THE CURES. PRIORITIES ARE: AWARENESS FOR MITOCHONDRIAL DISEASE, ESTABLISHING PARTNERSHIPS AND CONNECTIONS TO RELATED DISEASES, FUNDING THE CURES WITH TREATMENT-ORIENTED RESEARCH.FMM'S INITIATIVES CONSISTENT OF MISSION-DRIVEN PROGRAMS AND OUTREACH TO RAISE AWARENESS FOR MITOCHONDRIAL DISEASE, HIGHLIGHT THE CONNECTION TO RELATED NEURODEGENERATIVE DISEASES WHERE MITOCHONDRIAL DYSFUNCTION IS A COMMON COMPONENT AND WHERE RESEARCH ON SUCH AN IMPORTANT CAUSAL ELEMENT CAN LEAD TO TREATMENTS FOR MULTIPLE DISEASE STATES. PROGRAMS INCLUDE BUT ARE NOT LIMITED TO: ESTABLISHMENT OF PARTNERSHIPS WITH RELATED DISEASE ORGANIZATIONS, MEDICAL INSTITUTIONS AND AFFILIATED NON-PROFITS, PATIENT ADVOCACY GROUPS WITH SIMILAR AND SYNERGISTIC MISSIONS. LOCAL, NATIONAL AND INTERNATIONAL COMMUNICATION EFFORTS INVOLVED MASS COMMUNICATION MEDIA RELATIONS, SOCIAL MEDIA AND INTERNET OUTREACH. 2017 EXPENSES WERE ALLOCATED TO THE FOLLOWING ENDEAVORS:HOPE FLIES CATCH THE CURE:HOPE FLIES CATCH THE CURE IS FMM'S SIGNATURE EVENT, A FUN-FILLED EVENING OF COCKTAILS, DINNER, DANCING AND AUCTIONS. AN ANNUAL EVENT OF FRIENDS AND FRIENDS OF FRIENDS GATHERED TO HELP PROMOTE AWARENESS FOR MITOCHONDRIAL DISEASE AND RAISE FUNDS FOR RESEARCH AND TREATMENTS. SEVERAL HUNDRED PEOPLE SUPPORT THE EVENT, WHICH HIGHLIGHTS STORIES AND TESTIMONIALS OF THE PATIENTS STRUGGLING WITH MITOCHONDRIAL DISEASE.MITOCHONDRIAL MEDICINE SOUTHEAST REGIONAL SYMPOSIUM: UNDERSTANDING MITOCHONDRIAL DISEASE AND MITOCHONDRIAL DYSFUNCTION, OPPORTUNITIES AND IMPACTS IN THE CLINIC AND LABORATORY TO ADDRESS HUMAN ENERGY PRODUCTION PROBLEMS ROOTED IN THE MITOCHONDRIA. IN PARTNERSHIP WITH THE UNITED MITOCHONDRIAL DISEASE FOUNDATION, FMM ORGANIZED AND LED A SOUTHEAST REGIONAL SYMPOSIUM TO FOCUS ON MITOCHONDRIAL DISEASE AND MITOCHONDRIAL DYSFUNCTION, WHICH IS AT THE ROOT OF DISEASES AND CONDITIONS THAT AFFECT THE YOUNG AND OLD, FROM AUTISM TO ALZHEIMER'S, IN WAYS THAT CAN RANGE FROM SUBTLE TO DEVASTATING.THE PROGRAM INCLUDED CME SESSIONS FOR SCIENTISTS, PRACTITIONERS AND HEALTH PROFESSIONALS, AS WELL AS A PATIENT AND FAMILIES' DAY FOR EDUCATION, NETWORKING AND SUPPORT. IN ADDITION, A KEYNOTE ADDRESS FROM THE ENERGY PROJECT PROVIDED A BROADER ENERGY PERSPECTIVE AS OUR MOST PRECIOUS RESOURCE. AN INTERSECTION OF BOTH SCIENCE AND HUMAN PERFORMANCE, THIS PROGRAM ENLIGHTENED, EDUCATED, INSPIRED AND UNLOCKED NEW IDEAS AND SOLUTIONS TO HUMAN ENERGY PROBLEMS FACING US ALL.CLINICAL SESSIONS SPEAKERS AND TOPICS INCLUDED:BRUCE H. COHEN, MD, COURSE CHAIR, AKRON CHILDREN'S HOSPITAL, AKRON, OH- POTENTIAL THERAPIES AND TREATMENTS FOR MITOCHONDRIAL DISEASELEON S. DURE, MD, COURSE CO-CHAIR, CHILDREN'S HOSPITAL OF ALABAMA, BIRMINGHAM, AL- PEDIATRIC NEUROLOGY AND MITOCHONDRIAL MEDICINE AT UABVICTOR DARLEY-USMAR, PHD, UNIVERSITY OF ALABAMA AT BIRMINGHAM SCHOOL OF MEDICINE, BIRMINGHAM, AL- BIOENERGETICS AND MITOCHONDRIAL MEDICINEDAVID FERRICK, AGILENT TECHNOLOGIES- BIOENERGETICS AND MITOCHONDRIAL MEDICINE MATT GOLDBERG, PHD, UNIVERSITY OF ALABAMA AT BIRMINGHAM SCHOOL OF MEDICINE, BIRMINGHAM, AL- PARKINSON'S AND MITOCHONDRIAL DYSFUNCTIONMICHIO HIRANO, MD, COLUMBIA UNIVERSITY, NEW YORK, NY- SCREENING AND EVALUATION OF MITOCHONDRIAL DISEASESSHILPA IYER, PHD, UNIVERSITY OF ARKANSAS, FAYETTEVILLE, AR- DOD FUNDING FOR STUDY OF LEIGH'S DISEASEAMEL KARAA, MD, MASSACHUSETTS GENERAL HOSPITAL, BOSTON, MA- MITOCHONDRIAL DISEASE PRIMERROBIN MORRIS, PHD, GA STATE NEUROPSYCHOLOGY, ATLANTA, GA- AUTISM AND MITOCHONDRIAL DYSFUNCTIONDIANA SHINEMAN, ALZHEIMER'S DRUG DISCOVERY FOUNDATION- ALZHEIMER'S AND MITOCHONDRIAL DYSFUNCTIONKESHAV SINGH, PHD, UNIVERSITY OF ALABAMA AT BIRMINGHAM, AL- CANCER AND MITOCHONDRIAL DYSFUNCTION
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0A KEY STRATEGIC INITIATIVE CONTINUES TO BE PARTNERSHIP DEVELOPMENT WITH RELATED DISEASE ORGANIZATIONS, CLINICAL CARE SETTINGS AND ACADEMIC MEDICAL CENTERS, LIKE THE ALZHEIMER'S DRUG DISCOVERY FOUNDATION, THE MICHAEL J. FOX FOUNDATION FOR PARKINSON'S RESEARCH, THE GEORGIA PARKINSON'S COALITION, THE WILKINS PARKINSON'S FOUNDATION, ABBY'S HELPING HAND AND THE UNIVERSITY OF ALABAMA AT BIRMINGHAM. EVENTS AND PROGRAMS TO PROMOTE AWARENESS FOR MITOCHONDRIAL DISEASE AND RAISE FUNDS FOR TREATMENTS AND RESEARCH ARE: HOPE FLIES WITH THE BRAVES, PARTNERS FOR THE CURES, GIVE28ON28 FOR RARE DISEASE DAY AND ONGOING WEBINARS AND INFORMATIONAL COMMUNICATIONS CALLED THE HOPE FLIES HEALTH SERIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt02017 WAS ANOTHER YEAR 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, BUILDING UPON PAST PROGRAM SUPPORT OF INNOVATIVE RESEARCH, LIKE THE BIOENERGETICS HEALTH INDEX COMING OUT OF THE UNIVERSITY OF ALABAMA AT BIRMINGHAM, WHICH IS A DEVELOPING BIOMARKER MEASURING MITOCHONDRIAL FUNCTION, APPLICABLE NOT ONLY TO MITOCHONDRIAL DISEASE, BUT ALSO OTHER NEURODEGENERATIVE DISEASES WHERE MITOCHONDRIAL DYSFUNCTION IS A CORE ELEMENT. FMM ENJOYS THE OPPORTUNITY TO LEVERAGE AND EXPAND SYNERGISTIC RELATIONSHIPS ACROSS MULTIPLE DISEASE STATES. ALZHEIMER'S, PARKINSON'S, AUTISM, MUSCULAR DYSTROPHY, EPILEPSY, DIABETES, ALS, CHRONIC FATIGUE, HUNTINGTON'S AND OTHERS ALL HAVE SOMETHING IN COMMON- PROBLEMS WITH THE 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 DIRECTORS DETERMINES THAT A POSSIBLE CONFLICT OF INTEREST EXISTS, THEN THE INDIVDUAL IN CONFLICT REMOVES HIMSELF/HERSELF FROM THE DISCUSSIONS AND VOTING, AS IT PERTAINS TO THAT TOPIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF THE EXECUTIVE DIRECTOR INVOLVES A VERY DELIBERATIVE PROCESS AND COMPARABLES OF OTHER START-UP, NON-PROFIT COMPANIES IN THE RESPECTIVE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 54,280. MANAGEMENT AND GENERAL EXPENSES 6,335. FUNDRAISING EXPENSES 12,400. TOTAL EXPENSES 73,015.
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 11A:
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR MITOCHONDRIAL MEDICINE
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