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Dana-Farber Cancer Institute

CharityWatch report issued
October 2022

Top-Rated Charity
CharityWatch Grade
Our independent grade based
on a number of factors.
Program Percentage
Amount spent on programs
relative to overhead.
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Dana-Farber Cancer Institute
450 Brookline Avenue, BP418
Boston, MA 02215

Other Names

Dana-Farber Cancer Care Network
Jimmy Fund

Tax Status


Stated Mission

To provide expert, compassionate, and equitable care to children, adults & their families, while advancing the understanding, diagnosis, treatment, cure, and prevention of cancer & related diseases.

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Data based on Fiscal Year Ended 09/30/2021

Program Percentage: 80%

The percentage of Dana-Farber Cancer Institute's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).


Calculated Total Expenses



Cost to Raise $100: $8

How many dollars Dana-Farber Cancer Institute spends on fundraising to raise each $100 of contributions.


Calculated Total Contributions


Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources


Financial Documents

Entity Document Type Tax ID
Dana-Farber Cancer Institute & Subsidiaries Audited Consolidated Financial Statements multiple
Dana-Farber Cancer Care Network IRS Form 990 46-5138314
Dana-Farber Cancer Institute IRS Form 990 04-2263040
Entity: Dana-Farber Cancer Institute & Subsidiaries
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Entity: Dana-Farber Cancer Care Network
Document Type: IRS Form 990
Tax ID: 46-5138314
Entity: Dana-Farber Cancer Institute
Document Type: IRS Form 990
Tax ID: 04-2263040

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
Dana-Farber Cancer Institute
meets governance benchmarks.
Dana-Farber Cancer Institute
meets transparency benchmarks.
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy Opt-Out Policy  

  Name Title Compensation
1 Laurie H. Glimcher, M.D. President/CEO $2,026,618
2 Edward J. Benz, Jr., M.D. President/CEO Emeritus $1,190,809
3 Michael L. Reney CFO/Assistant Treasurer $872,935
Name: Laurie H. Glimcher, M.D.
Title: President/CEO
Compensation: $2,026,618
Name: Edward J. Benz, Jr., M.D.
Title: President/CEO Emeritus
Compensation: $1,190,809
Name: Michael L. Reney
Title: CFO/Assistant Treasurer
Compensation: $872,935

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of Dana-Farber Cancer Institute also includes the financial activities of the Dana-Farber Cancer Care Network and the other entities consolidated in the Institute's audited financial statements for the fiscal year ended September 30, 2021. Intercompany balances and transactions have been eliminated in the audit consolidation.

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2021 (Note 18, COVID-19 Pandemic):

"In January 2020, the Secretary of the U.S. Department of Health and Human Services (HHS) declared a national public health emergency due to COVID-19 and in March 2020, it was declared a pandemic by the World Health Organization. To contain the spread and impact of COVID-19, and to mitigate the burden on the healthcare system, federal, state and local authorities implemented various restrictive measures, including significant limitations on business activity, travel bans, promotion of physical distancing, mandated quarantines, and shelter-in-place orders. Beginning in mid-March 2020, the Institute began to see a decrease in patient volume that continued through September 30, 2021. Management attributes these decreases, which have been offset partially by the transition to telehealth visits, to stay-at-home advisories and travel restrictions. The Institute expects patient volumes and revenues to be negatively impacted until the effects of the pandemic begin to subside and the economy begins to stabilize."

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2021 (Note 18a, COVID-19 Pandemic, Public Health and Social Services Emergency Fund (PHSS Emergency Fund)):

"Federal and state governments passed legislation, promulgated regulations, and took other administrative actions intended to assist healthcare providers in providing care to COVID-19 and other patients during the public health emergency. Sources of relief included the CARES [Coronavirus Aid, Relief, and Economic Security] Act, which was enacted on March 27, 2020, and the Paycheck Protection Program and Health Care Enhancement Act (PPPHCE Act), which was enacted on April 14, 2020.

"Payments from the PHSS Emergency Fund are not subject to repayment so long as providers attest to certain terms and conditions required by HHS, including, among other things, that the funds are being used for lost operating revenues and COVID-related expenses, limitations on balance billing, and agreeing that PHSS Emergency Funds will not be used to reimburse expenses or losses that other sources are obligated to reimburse. Payments are recognized as revenue when there is reasonable assurance that the terms and conditions associated with the distributions have been met. The Institute received approximately $23 million and $24 million in PHSS Emergency Fund general distributions for the years ended September 30, 2021 and 2020, respectively..."

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2021 (Note 18b, COVID-19 Pandemic, Medicare Accelerated and Advance Payment Program):

"In addition, the CARES Act expanded the Medicare Accelerated and Advance Payment Program, which allows for eligible health care facilities to request up to six months of advance Medicare payments. Such accelerated payments are interest free for twelve months for most acute care hospitals. ... As of September 30, 2021, the Institute had received approximately $133 million of payments under this program. Amounts received represent contract liabilities...and are recorded within accounts payable and accrued expenses on the [audited] consolidated balance sheets and amounted to $95 million and $133 million as of September 30, 2021 and 2020. As of September 30, 2021, the terms and conditions in effect prescribed that any outstanding balance remaining after twelve months from the date of receipt must be repaid or may be subject to interest..."

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2021 (Note 18c, COVID-19 Pandemic, Deferral of Certain Payroll Taxes) [$s in thousands, as indicated below]:

"The CARES Act provided for deferred payment of the employer portion of social security taxes through December 31, 2020, with 50% of the deferred amount due December 31, 2021 and the remaining 50% due December 31, 2022. As of September 30, 2021, the Institute had deferred $19,784 [thousand]... The Institute had deferred $14,136 [thousand] as of September 30, 2020..."

According to the Dana-Farber Cancer Institute tax filing for the fiscal year ended September 30, 2021, the Institute reports re: Loans to and/or from Interest Persons "Housing" loans made to four employees. The original principal amounts of the loans are: one at $500,000, two at $150,000, and one at $100,000; the cumulative total balance due on the loans at fiscal year-end 2021 is $571,667. The four loans are not in default, have a written agreement, and were approved "by board or committee" (IRS Form 990, Schedule L, Part II).

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2021 (Note 12c, Charity Care) [$s in thousands, as indicated below]:

"The Institute provides care without charge or at amounts less than established rates to patients who meet certain criteria under the Institute's charity care policies. Because the Institute does not pursue collection of amounts determined to qualify as charity care, they are not reported as revenue. During the years ended September 30, 2021 and 2020, the Institute provided $12,865 [thousand] and $10,900 [thousand], respectively, at standard charges of charity care. The cost of this charity care was $4,797 [thousand] and $4,089 [thousand]. In addition, the Institute had net payments to the Commonwealth of Massachusetts 'health safety net' of $16,907 [thousand] and $17,051 [thousand] for the years ended September 30, 2021 and 2020, respectively. The equivalent percentage of charity care patients to all patients served was approximately 0.3% in 2021 and 0.3% in 2020. Such amounts and percentages are determined using charges foregone based on established rates. The cost of charity care is estimated using the cost-to-charge ratio for the Institute."

According to the Dana-Farber Cancer Institute tax filing for the fiscal year ended September 30, 2021, the Institute reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 4a):

"James Terwilliger received severance payments in the amount of $360,500..."

[James Terwilliger is reported as "Former COO & EVP," with total compensation of $840,055 in calendar year 2020 (Schedule J, Part II).]

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7):

"During the year, the CEO, COO, CFO, General Counsel and certain key employees and highest compensated employees were eligible to receive an incentive payment, a portion of which has a non-fixed payment payable at the discretion of the CEO and in the case of the CEO, the board of trustees, if the organization meets certain financial performance goals. The maximum non-fixed portion of these incentive payments is between 8% (CEO – 40% max, of that 32% team, 8% individual) and 4% (SVP – 20% max, of that 16% team and 4% individual; VP – 10% max, of that 6% team and 4% individual; and (EVP – 30% max, of that 24% team and 6% individual)."

The Institute reports "Bonus & incentive compensation" payments to 23 individuals in calendar year 2020, including $422,902 and $210,752 paid to Laurie H. Glimcher, MD, President & CEO, and William Hahn, MD, COO & EVP, respectively. Their reported total compensation in 2020 is $2,026,618 and $842,492, respectively. The remaining 21 individuals received "Bonus & incentive compensation" that ranged from $130,478 to $400, with associated reported total compensation in 2020 ranging from $1,190,809 to $208,711 (IRS Form 990, Schedule J, Part II).

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