Civic Intelligence

Vascular Cures

990 • Fiscal year 2022 • EIN 94-2825216

Jul 01, 2021 to Jun 30, 2022 • Filed on May 08, 2023

274 Redwood Shores Parkway 717Redwood City, CA 94065

(650) 368-6022

Siviq Scores

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

Liabilities / Assets

61st percentile

0.13x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.22x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

45th percentile

4.5%

Higher net margin than 45% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

81st percentile

$136,250

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

23rd percentile

-8.2%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

317%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$3,787,443

Down $336,381 (-8.2%) from 2021

Net Assets

Down

$3,303,970

Down $256,618 (-7.2%) from 2021

Liabilities

Down

$483,473

Down $79,763 (-14%) from 2021

Revenue

Up

$2,153,452

Up $1,636,905 (+317%) from 2021

Expenses

Up

$2,056,902

Up $1,250,411 (+155%) from 2021

Net Income

Up

$96,550

Up $386,494 (+133%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,512,425Liabilities 2011: $15,773Net Assets 2011: $1,496,6522011Assets 2012: $1,183,664Liabilities 2012: $32,593Net Assets 2012: $1,151,0712012Assets 2013: $2,477,830Liabilities 2013: $36,524Net Assets 2013: $2,441,3062013Assets 2014: $3,429,333Liabilities 2014: $28,396Net Assets 2014: $3,400,9372014Assets 2015: $4,287,637Liabilities 2015: $54,866Net Assets 2015: $4,232,7712015Assets 2016: $3,664,390Liabilities 2016: $110,944Net Assets 2016: $3,553,4462016Assets 2017: $3,018,671Liabilities 2017: $24,381Net Assets 2017: $2,994,2902017Assets 2018: $2,764,483Liabilities 2018: $20,210Net Assets 2018: $2,744,2732018Assets 2019: $2,978,980Liabilities 2019: $16,307Net Assets 2019: $2,962,6732019Assets 2020: $3,437,896Liabilities 2020: $66,578Net Assets 2020: $3,371,3182020Assets 2021: $4,123,824Liabilities 2021: $563,236Net Assets 2021: $3,560,5882021Assets 2022: $3,787,443Liabilities 2022: $483,473Net Assets 2022: $3,303,9702022Assets 2023: $3,574,035Liabilities 2023: $321,309Net Assets 2023: $3,252,7262023Assets 2024: $4,309,404Liabilities 2024: $200,038Net Assets 2024: $4,109,3662024

Highlighted filing

2022

Assets$3,787,443
Liabilities$483,473
Net Assets$3,303,970

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,060,435Expenses 2011: $608,882Net Income 2011: $451,5532011Expenses 2012: $731,4622012Expenses 2013: $761,0692013Revenue 2014: $1,524,103Expenses 2014: $701,270Net Income 2014: $822,8332014Revenue 2015: $1,615,215Expenses 2015: $785,876Net Income 2015: $829,3392015Revenue 2016: $329,595Expenses 2016: $943,160Net Income 2016: -$613,5652016Revenue 2017: $299,513Expenses 2017: $1,056,506Net Income 2017: -$756,9932017Revenue 2018: $497,871Expenses 2018: $898,562Net Income 2018: -$400,6912018Revenue 2019: $1,071,805Expenses 2019: $767,918Net Income 2019: $303,8872019Revenue 2020: $1,228,444Expenses 2020: $743,410Net Income 2020: $485,0342020Revenue 2021: $516,547Expenses 2021: $806,491Net Income 2021: -$289,9442021Revenue 2022: $2,153,452Expenses 2022: $2,056,902Net Income 2022: $96,5502022Revenue 2023: $1,610,194Expenses 2023: $1,826,600Net Income 2023: -$216,4062023Revenue 2024: $1,853,089Expenses 2024: $1,111,076Net Income 2024: $742,0132024

Highlighted filing

2022

Revenue$2,153,452
Expenses$2,056,902
Net Income$96,550
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 8, 2023
Return Version
2021v4.1
Gross Receipts
$2,164,649
Mission and Program Overview

Mission

Vascular cures is a leader in breakthrough innovations to improve the lives of patients with vascular disease. We are transforming the vascular care-to-cure continuum, driving novel collaborations in patient-centered research and healthcare. Vascular cures is enabling new ways to predict, treat and prevent vascular disease.

Our mission is to amplify the patient voice, accelerate patient-centered research, and catalyze innovative collaborations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,924,071$2,564,392▼ $359,679
Cash and Non-Interest-Bearing Accounts$488,670$853,875▲ $365,205
Pledges and Grants Receivable$711,083$368,021▼ $343,062
Land, Buildings, and Equipment, Net-$1,155-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$4,123,824$3,787,443▼ $336,381
Other Assets Total-$0-
Liabilities
Other Liabilities$262,595$192,108▼ $70,487
Accounts Payable and Accrued Expenses$19,999$152,865▲ $132,866
Deferred Revenue$280,642$138,500▼ $142,142
Total Liabilities$563,236$483,473▼ $79,763
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,140,551$2,746,765▼ $393,786
Net Assets Without Donor Restrictions$420,037$557,205▲ $137,168
Total Net Assets Fund Balance$3,560,588$3,303,970▼ $256,618
Total Liabilities and Net Assets / Fund Balance$4,123,824$3,787,443▼ $336,381

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,155$39,267$40,422

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$2,924,071-▼ $264,179-$2,564,392
2020$2,565,823$68,213▲ $568,035-$2,924,071
2019$2,615,620$68,394▼ $20,166-$2,565,823
2018$2,142,643$554,200▲ $82,277-$2,615,620
2017$2,288,461$4,100▲ $158,074-$2,142,643
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Megan PattersonCEOFT$136,250-$136,250
Lenimfa CatalanStaffFT$100,000$11,678$111,678

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,313,014
Program Service Revenue
$648,666
Investment Income
$121,981
Other Revenue
$69,791
All Other Contributions
$1,313,014
Change in Net Assets
$96,550

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,136,047
Revenue Not Reported on Financial Statements
$17,405
Revenue Not Reported on Form 990
$-341,971
Total Revenue per Audited Statements
$1,794,076
Total Revenue per Form 990
$2,153,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,136,345
Salaries, Compensation, and Employee Benefits$500,290
Grants and Similar Amounts Paid$420,267
Total Fundraising Expense$80,993
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$320,267--$320,267
Other Salaries and Wages$246,902$26,690$29,950$303,542
Fees for Services Other$227,676$1,118$1,385$230,179
Current Officers, Directors, Trustees, and Key Employees$110,826$11,980$13,444$136,250
Foreign Grants$100,000--$100,000
Fees for Services Accounting-$38,633-$38,633
Payroll Taxes$25,140$2,998$3,369$31,507
Other Employee Benefits$22,763$3,191$3,037$28,991
Fees for Service Investment Mgmnt Fees-$17,405-$17,405
Information Technology$10,465$3,692$2,730$16,887
Other Expenses$16,401$45$19,928$16,401
Travel$10,267$2,748$462$13,477
All Other Expenses$6,493$3,191$2,263$11,947
Advertising$4,910$261$4,184$9,355
Insurance$1,781$4,128$241$6,150
Depreciation Depletion-$577-$577
Office Expenses$20$56-$76
Total Functional Expenses$1,859,196$116,713$80,993$2,056,902

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,056,902
Total Expenses per Audited Statements$2,050,694
Expenses per Audited Statements$2,039,497
Expenses Not Reported on Financial Statements$17,405
Expenses Not Reported on Form 990$11,197
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Duke UniversityDurham, NC-Research$100,000
Casa Colina Hospital CentersPomona, CA-Research$50,000
University of MassachusettsWorcester, MA-Research$50,000
University of MichiganAnn Arbor, MI-Research$50,000
University of FloridaGainesville, FL-Research$39,000
University of PittsburghPittsburgh, PA-Research$30,800
Vanderbilt UniversityNashville, TN-Research$5,600

International Summary

Spending
$100,000

International Compliance

Foreign grant records maintained
Yes
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
North AmericaHealth CareGrant to fund medical research00$100,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$80,988
Fundraising Direct Expenses$11,197
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Dinner$80,988$80,988$11,197$69,791
Total Events$80,988$80,988$11,197$69,791
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable advances$174,674
Accrued payroll liabilities$17,434
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, Line 11B: Form 990 Review Process

Form 990 is prepared by an outside tax professional. The form is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Members of the Board of Directors review all potential conflicts of interest periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Members of the board of directors review the compensation of all high-level personnel periodically in accordance with IRS rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with IRS guidelines and the organization's policies and procedures.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Compensation of other personnel and highly compensated employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.

Filing and Contact Details

Filer

Filer Name
Vascular Cures
EIN
94-2825216
Phone
6503686022
Address
274 Redwood Shores Parkway 717, Redwood City, CA 94065

Signing Officer

Name
Isabel Bjork
Title
CEO
Signed
2023-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Yu
Formed
1982
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
10
Employees
6
Volunteers
8

Preparer

Firm
Regalia & Associates Cpas
Address
103 TOWN COUNTRY DR STE K, DANVILLE, CA 94526
Preparer
Douglas W Regalia
Phone
9253140390
Supplemental Narrative

Additional Explanations

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

Other program services 4: our patients as partners program is designed to facilitate the engagement of patientadvisors in national research and care improvement initiatives. We are alsointerested in engaging caregivers and family members impacted by vascular disease.we are fostering a community of representative, empowered advocates to claim theirseat to the table as true partners. Other program services 5: we serve as the fiscal sponsor of american limb preservation society. When we launched project voice, it was the first digital health program to improveoutcomes for patients with peripheral artery disease (pad). Project voice will 1)bring patients into the healthcare conversation, manage their own health and sharein decision-making; 2) enable researchers to gather patient-reported outcomes data,currently a crucial gap in both research and healthcare and 3) improvepatient-physician partnerships through higher quality information exchange andshared decision-making. The ultimate goal is to improve outcomes and lowerhealthcare costs. Other program services 6: we have convened working groups to promote and facilitate chronic limb-threateningischemia (clti) patient engagement in research. This initiative will build capacityto engage clti patients in research as advisors and participants, so that studyresults align with the needs of the patient. It will also prioritize the kinds ofresearch that are most important to patients.

Other Changes In Net Assets Or Fund Balances - Other Decreases

Change in unamortized discount = -$1817

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

Under the California Nonprofit Integrity Act, an exempt organization with annual revenue of $2 million or more is required to have an Audit Committee to select an audit Firm, review the audit, and approve the audit of its annual financial statements.

Part III Line 4C continued

We Bring awareness to the public re: the importance of vascular health, the kinds of vascular conditions and their signs and symptomsWe Educate at-risk communities and individuals re: the signs and symptoms of vascular diseases, major risk factors, strategies to reduce risk and the diagnostic processWe Empower patients to improve their health outcomes through education that enables better disease management and self-advocacy in a care settingWe Educate providers on the importance of vascular health, underdiagnosed conditions such as PAD

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

VC is subject to the Uniform Prudent Management of Institutional Funds Act (UPMIFA and the California equivalent enacted by SB 1329 in California) which requires the preservation of the fair value of the original gift as of the gift date of the donor-restricted Madden and Margaret N. Stiegele Endowments absent explicit donor stipulations to the contrary. VC therefore classifies as net assets with donor restrictions perpetual in nature (a) the original value of gifts donated to the permanent Madden and Margaret N. Stiegele Endowments and (b) the original value of subsequent gifts to the permanent Madden and Margaret N. Stiegele Endowments.The remaining portion of the donor-restricted Madden and Margaret N. Stiegele Endowments not classified in net assets with donor restrictions perpetual in nature is classified as net assets with donor restrictions time or purpose until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by UPMIFA.

Part X : FIN48 Footnote

Income TaxesFinancial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, Vascular Cures (VC) is required to report information regarding its exposure to various tax positions taken by VC and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that VC has adequately evaluated its current tax positions and has concluded that as of June 30, 2022, VC does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Special Events Expenses $11197 Change in discount $-1817

Part XII, Line 2D: Other expenses and losses per audited F/S

Special Events Expenses $11197

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IRS990/MissionDesc0OUR MISSION IS TO AMPLIFY THE PATIENT VOICE, ACCELERATE PATIENT-CENTERED RESEARCH, AND CATALYZE INNOVATIVE COLLABORATIONS.
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IRS990/PrincipalOfficerNm0Edward Yu
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION AND COMMUNITY AWARENESS PROGRAMS ARE THE AWARENESS OF THE RISKS, CONSEQUENCES AND NEW TREATMENTS FOR VASCULAR DISEASE. WE EMPHASIZE EMPOWERMENT AND SHARED DECISION-MAKING BEST PRACTICES, HELPING TO ENSURE THAT PATIENTS WITH VASCULAR DISEASE AND THEIR FAMILIES ARE EQUIPPED WITH THE KNOWLEDGE TO MAKE INFORMED DECISIONS ABOUT THEIR HEALTH CARE. WE HAVE A SPECIFIC FOCUS ON PREVENTION AND MAKING RESOURCES ACCESSIBLE TO VULNERABLE POPULATIONS AND COMMUNITIES. Every year, more than 200,000 individuals around the world visit our website to learn about vascular disease and connect to critical resources.(continued on Schedule O)
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0410144
IRS990/ProgSrvcAccomActy3Grp/Desc0The Wylie Scholar Program provides 3-year career development grants to outstanding young vascular surgeon-scientists who combine active patient care with academic research. The award supports crucial research that enables them to compete for future research funding. Wylie Scholars become North Americas world-class vascular surgeon-scientists; many are now chiefs at major academic centers, prominent leaders in the field, and play a key role in our programs. Since 1996, weve supported 24 surgeon-scientists at 15 institutions around the country who are transforming patient care. The average return on investment for follow-on research funding is 30:1.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.31$0.20$4.11$1.85$1.11$0.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.57$0.32$3.25$1.61$1.83$0.22
2022Detailed filing. Detailed filing data is available for this year.$3.79$0.48$3.30$2.15$2.06$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$0.56$3.56$0.52$0.81$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.44$0.07$3.37$1.23$0.74$0.49
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$0.02$2.96$1.07$0.77$0.30
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.76$0.02$2.74$0.50$0.90$0.40
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.02$0.02$2.99$0.30$1.06$0.76
2016Detailed filing. Detailed filing data is available for this year.$3.66$0.11$3.55$0.33$0.94$0.61
2015Detailed filing. Detailed filing data is available for this year.$4.29$0.05$4.23$1.62$0.79$0.83
2014Detailed filing. Detailed filing data is available for this year.$3.43$0.03$3.40$1.52$0.70$0.82
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.04$2.44$0.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.03$1.15$0.73
2011Summary only. Only limited summary data is available for this year.$1.51$0.02$1.50$1.06$0.61$0.45
Peer Organizations

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