Civic Intelligence

Cardiovascular Research Foundation

EIN 52-1752653 • 501(c)3 • New York, NY

Profile

To help doctors improve the survival and quality of life for people suffering from heart and vascular disease through innovation, investigation and education.

1700 BroadwayNew York, NY 10019

www.crf.org

Siviq Scores

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

Liabilities / Assets

66th percentile

0.43x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.54x

Higher debt load relative to revenue than 63% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

46th percentile

3.3%

Higher net margin than 46% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

87th percentile

$1,002,558

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

13th percentile

-4.9%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-12%

Faster revenue growth than 14% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$87,491,417

Down $4,478,467 (-4.9%) from 2023

Liabilities

Down

$37,248,809

Down $8,295,361 (-18%) from 2023

Net Assets

Up

$50,242,608

Up $3,816,894 (+8.2%) from 2023

Revenue

Down

$68,904,326

Down $9,366,903 (-12%) from 2023

Expenses

Up

$66,655,898

Up $1,684,138 (+2.6%) from 2023

Net Income

Down

$2,248,428

Down $11,051,041 (-83%) from 2023

Trend Graphs

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $29,055,505Liabilities 2010: $26,123,647Net Assets 2010: $2,931,8582010Assets 2011: $33,795,070Liabilities 2011: $28,104,965Net Assets 2011: $5,690,1052011Assets 2012: $34,119,818Liabilities 2012: $25,738,255Net Assets 2012: $8,381,5632012Assets 2013: $34,457,308Liabilities 2013: $25,319,958Net Assets 2013: $9,137,3502013Assets 2014: $32,702,183Liabilities 2014: $23,786,894Net Assets 2014: $8,915,2892014Assets 2015: $33,936,359Liabilities 2015: $25,462,352Net Assets 2015: $8,474,0072015Assets 2016: $38,713,115Liabilities 2016: $28,829,073Net Assets 2016: $9,884,0422016Assets 2017: $41,874,156Liabilities 2017: $29,588,597Net Assets 2017: $12,285,5592017Assets 2018: $47,712,737Liabilities 2018: $29,341,368Net Assets 2018: $18,371,3692018Assets 2019: $60,748,866Liabilities 2019: $31,708,918Net Assets 2019: $29,039,9482019Assets 2020: $55,991,119Liabilities 2020: $30,642,796Net Assets 2020: $25,348,3232020Assets 2021: $57,426,030Liabilities 2021: $26,270,389Net Assets 2021: $31,155,6412021Assets 2022: $76,093,334Liabilities 2022: $43,397,873Net Assets 2022: $32,695,4612022Assets 2023: $91,969,884Liabilities 2023: $45,544,170Net Assets 2023: $46,425,7142023Assets 2024: $87,491,417Liabilities 2024: $37,248,809Net Assets 2024: $50,242,6082024

Highlighted filing

2024

Assets$87,491,417
Liabilities$37,248,809
Net Assets$50,242,608

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $42,248,0782010Expenses 2011: $40,392,4072011Expenses 2012: $41,451,4122012Revenue 2013: $47,210,161Expenses 2013: $46,723,957Net Income 2013: $486,2042013Revenue 2014: $48,702,682Expenses 2014: $48,596,443Net Income 2014: $106,2392014Revenue 2015: $50,260,197Expenses 2015: $50,750,916Net Income 2015: -$490,7192015Revenue 2016: $55,036,963Expenses 2016: $53,592,613Net Income 2016: $1,444,3502016Revenue 2017: $56,259,563Expenses 2017: $54,447,845Net Income 2017: $1,811,7182017Revenue 2018: $60,750,509Expenses 2018: $54,012,608Net Income 2018: $6,737,9012018Revenue 2019: $65,620,319Expenses 2019: $55,971,546Net Income 2019: $9,648,7732019Revenue 2020: $37,490,664Expenses 2020: $41,452,402Net Income 2020: -$3,961,7382020Revenue 2021: $52,277,749Expenses 2021: $47,332,137Net Income 2021: $4,945,6122021Revenue 2022: $61,324,834Expenses 2022: $57,291,678Net Income 2022: $4,033,1562022Revenue 2023: $78,271,229Expenses 2023: $64,971,760Net Income 2023: $13,299,4692023Revenue 2024: $68,904,326Expenses 2024: $66,655,898Net Income 2024: $2,248,4282024

Highlighted filing

2024

Revenue$68,904,326
Expenses$66,655,898
Net Income$2,248,428

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$87.5$37.2$50.2$68.9$66.7$2.25
2023Detailed filing. Detailed filing data is available for this year.$92.0$45.5$46.4$78.3$65.0$13.3
2022Detailed filing. Detailed filing data is available for this year.$76.1$43.4$32.7$61.3$57.3$4.03
2021Detailed filing. Detailed filing data is available for this year.$57.4$26.3$31.2$52.3$47.3$4.95
2020Detailed filing. Detailed filing data is available for this year.$56.0$30.6$25.3$37.5$41.5$3.96
2019Detailed filing. Detailed filing data is available for this year.$60.7$31.7$29.0$65.6$56.0$9.65
2018Detailed filing. Detailed filing data is available for this year.$47.7$29.3$18.4$60.8$54.0$6.74
2017Detailed filing. Detailed filing data is available for this year.$41.9$29.6$12.3$56.3$54.4$1.81
2016Detailed filing. Detailed filing data is available for this year.$38.7$28.8$9.88$55.0$53.6$1.44
2015Detailed filing. Detailed filing data is available for this year.$33.9$25.5$8.47$50.3$50.8$0.49
2014Detailed filing. Detailed filing data is available for this year.$32.7$23.8$8.92$48.7$48.6$0.11
2013Detailed filing. Detailed filing data is available for this year.$34.5$25.3$9.14$47.2$46.7$0.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.1$25.7$8.38$41.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.8$28.1$5.69$40.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$26.1$2.93$42.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$79,177,393
Mission and Program Overview

Mission

To help doctors improve the survival and quality of life for people suffering from heart and vascular disease through innovation, investigation and education.

Cardiovascular research foundation is an independent, academically focused organization dedicated to improving the survival and quality of life for people with cardiovascular disease through research and education. The organization has played a major role in realizing dramatic improvements in the lives of countless numbers of patients by establishing the safe use of new technologies and therapies in the subspecialty of interventional cardiology and endovascular medicine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$16,103,554$24,355,014▲ $8,251,460
Intangible Assets$16,646,673$14,759,603▼ $1,887,070
Savings and Temporary Cash Investments$14,944,760$13,766,231▼ $1,178,529
Accounts Receivable$15,485,969$13,076,045▼ $2,409,924
Land, Buildings, and Equipment, Net$8,225,464$7,899,066▼ $326,398
Cash and Non-Interest-Bearing Accounts$13,422,752$7,616,305▼ $5,806,447
Prepaid Expenses and Deferred Charges$2,306,356$2,512,825▲ $206,469
Investments Other Securities$32,591$32,566▼ $25
Total Assets$91,969,884$87,491,417▼ $4,478,467
Other Assets Total$4,801,765$3,473,762▼ $1,328,003
Liabilities
Other Liabilities$19,465,317$17,405,638▼ $2,059,679
Tax Exempt Bond Liabilities$10,510,001$9,600,000▼ $910,001
Accounts Payable and Accrued Expenses$13,079,582$8,185,232▼ $4,894,350
Deferred Revenue$2,489,270$2,057,939▼ $431,331
Total Liabilities$45,544,170$37,248,809▼ $8,295,361
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$46,425,714$50,242,608▲ $3,816,894
Total Net Assets Fund Balance$46,425,714$50,242,608▲ $3,816,894
Total Liabilities and Net Assets / Fund Balance$91,969,884$87,491,417▼ $4,478,467

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$911,502$18,697,780$19,609,282
Buildings$4,419,047$3,598,678$8,017,725
Leasehold Improvements$2,229,545$3,031,397$5,260,942
Other Land Buildings$26,032$2,037,257$2,063,289
Land$312,940-$312,940
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Juan F Granada MdCEO & DirectorFT$682,494$320,064$1,002,558
David CohenDirector of Clinical & OutFT$606,082$130,591$736,673
Eileen MoralesCFOFT$392,318$121,329$513,647
Donald L AbramsChief Legal OfficerFT$479,712$30,546$510,258
Alexandra PopmaDirectorFT$386,294$98,603$484,897
Tricia RawhExecutive Director, CEDFT$357,967$96,525$454,492
Grzegorz KaluzaDirector ResearchFT$323,844$68,358$392,202
Daniel BurkoffDirector of Heart FailureFT$312,667$59,073$371,740

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Gary S Mintz Md LLCManagement Consulting822 EAST CAPITOL STREET NE, Washington, DC 20003$310,000
Lissom CorpManagement Consulting1801 SO FLAGER DRIVE - APT 1809, West Palm Beach, FL 33401$201,093
Fixed Gear DesignsManagement Consulting2917 ANNUNCIATION STREET, New Orleans, LA 70115$179,393
Very Fine WorkManagement Consulting275 JEFFERSON AVENUE - APT 6, Brooklyn, NY 11261$155,870
Mattthew Schwartz Design Studio LLCManagement Consulting82 NASSAU STREET - 909, New York, NY 10038$140,000
Revenue and Support

Revenue Composition

Contributions and Grants
$7,422,106
Program Service Revenue
$59,958,634
Investment Income
$1,650,798
Other Revenue
$-127,212
All Other Contributions
$6,856,606
Change in Net Assets
$2,248,428

Audited Revenue Reconciliation

Revenue per Audited Statements
$69,042,582
Revenue Not Reported on Financial Statements
$-138,256
Revenue Not Reported on Form 990
$2,090,439
Other Revenue Adjustments
$-192,772
Total Revenue per Audited Statements
$71,133,021
Total Revenue per Form 990
$68,904,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,834,629
Salaries, Compensation, and Employee Benefits$26,821,269
Grants and Similar Amounts Paid$1,000,000
Total Fundraising Expense$43,034
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,682,239$4,305,506-$20,987,745
Conferences and Meetings$17,533,116$9,254$31,654$17,574,024
Fees for Services Other$7,573,388$440,000-$8,013,388
Occupancy$2,943,878$451,594-$3,395,472
Current Officers, Directors, Trustees, and Key Employees$1,613,921$412,542-$2,026,463
Other Employee Benefits$1,365,401$303,077-$1,668,478
Payroll Taxes$1,348,211$299,262-$1,647,473
Travel$1,518,097$77,459-$1,595,556
Grants to Domestic Orgs$1,000,000--$1,000,000
Depreciation Depletion$923,503$74,194-$997,697
All Other Expenses$516,992$88,544$4,464$610,000
Insurance$479,697$93,217-$572,914
Office Expenses$448,193$86,316$133$534,642
Interest$518,400$13,138-$531,538
Pension Plan Contributions$401,900$89,210-$491,110
Other Expenses$109,604$135,784$300$245,688
Fees for Services Accounting-$187,322-$187,322
Fees for Services Legal-$168,507-$168,507
Advertising$67,277--$67,277
Fees for Service Investment Mgmnt Fees-$54,516-$54,516
Total Functional Expenses$58,342,063$8,270,801$43,034$66,655,898

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$67,316,127
Total Expenses per Form 990$66,655,898
Expenses per Audited Statements$66,601,382
Expenses Not Reported on Form 990$714,745
Expenses Not Reported on Financial Statements$54,516
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Columbia University College of Physicians and SurgeonsNew York, NY501(c)(3)Clinical Research in the Field of Cardiovascular Medicine$1,000,000

International Summary

Offices
0
Employees
2
Spending
$1,814,520

International Compliance

Activity in boycott countries
Yes
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
EuropeProgram ServicesActivities Related to Clinical Management and Research Support00$793,736
CanadaProgram ServicesActivities Related to Ecducation and Training02$680,370
Middle EastProgram ServicesActivities Related to Clinical Management and Research Support00$240,834
AsiaProgram ServicesActivities Related to Clinical Management and Research Support00$69,840
Northeastern AfricaProgram ServicesActivities Related to Clinical Management and Research Support00$20,750
North AmericaProgram ServicesActivities Related to Clinical Management and Research Support00$8,540
South AmericaProgram ServicesActivities Related to Clinical Management and Research Support00$450
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$192,772
Fundraising Gross Income$63,560
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$629,060$63,560$101,794$-38,234
Total Events$629,060$63,560$192,772$-129,212
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 Liabilities$16,520,787
Finance Lease Liabilities$884,851

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACounty of Rockland Industrial Development Agency2004-12-23$18,000,000To build research facility in rockland county, new york

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$18,000,000-$8,400,000$109,201

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The tax return is prepared by an independent accounting firm based on the information provided by the cardiovascular research foundation. Prior to filing, the board of directors receives a copy of form 990 and the attachments to review and discuss. The accounting firm responds to various questions asked by the board prior to submission to the irs.

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

The board of directors and corporate officers are required to respond to inquiries about the conflict of interest policy and disclose any conflicts on an annual basis. They also have to complete an annual online questionnaire. In the event that a conflict is identified, the person having the conflict is required to recuse themselves from any decision making aspects of the related issue and decisions are made by the board of directors without the vote of the conflicted member. Conflicts are monitored by the chief legal officer, who also serves as the cardiovascular research foundation's compliance officer.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board of directors reviews the compensation of the officers to determine if the compensation is reasonable, based upon the review of forms 990 for other tax-exempt organizations with exempt purpose's similar to the cardiovascular research foundation's mission. Comparative information is obtained from the pharmaceutical and device industries and other not-for-profits in the new york city area. Compensation is also based upon educational and work experience. The ceo has an employment contract.

Form 990, Part VI, Section C, Line 19

The documents are available by request.

Filing and Contact Details

Filer

Filer Name
Cardiovascular Research Foundation
EIN
52-1752653
Phone
6464344691
Address
1700 BROADWAY, NEW YORK, NY 10019

Signing Officer

Name
Eileen Morales
Title
Treasurer & CFO
Phone
6464344691
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Juan Fgranada Md
Formed
1991
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
10
Employees
213
Volunteers
10

Preparer

Firm
Cohnreznick Advisory LLC
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky
Phone
2122970400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consultants & subcontractors: program service expenses 7,573,388. Management and general expenses 440,000. Fundraising expenses 0. Total expenses 8,013,388.

Financial Statement Notes

PART X, LINE 2:

Management has analyzed the tax positions taken by the crf and has concluded that, as of december 31, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses -192,772.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses 192,772.

Raw XML AppendixShowing 400 of 971 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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