Ratings & Metrics
Financial Documents
| Entity | Document Type | Tax ID |
|---|---|---|
| National Hemophilia Foundation | IRS Form 990 | 13-5641857 |
| National Hemophilia Foundation | Audited Financial Statements | 13-5641857 |
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Entity: National Hemophilia Foundation Document Type: IRS Form 990 Tax ID: 13-5641857 |
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Entity: National Hemophilia Foundation Document Type: Audited Financial Statements Tax ID: 13-5641857 |
Governance & Transparency
Top Salaries
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Val Bias | Past CEO | $411,459 |
| 2 | Jordana Zeger | Chief Fiscal Officer | $315,377 |
| 3 | Leonard Valentino | President/CEO | $281,349 |
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1 Name: Val Bias Title: Past CEO Compensation: $411,459 |
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2 Name: Jordana Zeger Title: Chief Fiscal Officer Compensation: $315,377 |
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3 Name: Leonard Valentino Title: President/CEO Compensation: $281,349 |
Analysts' Notes
According to the National Hemophilia Foundation (NHF) audit of December 31, 2020 (Note 1, Nature of Organization): "The Foundation and other independent organizations ('member chapters') actively collaborate in furthering the Foundation's mission throughout the United States. These [audited] financial statements represent only the financial position and activities of the National Hemophilia Foundation and do not include the accounts of the 'member chapters'. On June 23, 2011, five chapters merged with NHF. On February 24, 2014, a sixth chapter and on January 27, 2016 a seventh chapter was created by the Foundation; consequently, the two newly created chapters along with those of the five previously merged chapters are included in the financial statements of NHF. All other member chapters continue to operate independently of NHF and thus, are not included in the financial statements of NHF." |
According to the National Hemophilia Foundation audit of December 31, 2020 (Note 2 re: Contributions and Grants): "For the year ended December 31, 2020, approximately 21% of the Foundation's total support and revenue was provided by one pharmaceutical company. ... For the year ended December 31, 2019, approximately 29% of the Foundation's total support and revenue was provided by two pharmaceutical companies... "No other grantors accounted for more than 10% of revenue for the years ended December 31, 2020 and 2019." |
According to the National Hemophilia Foundation audit of December 31, 2020 (Note 7, Paycheck Protection Program Loan): "On April 24, 2020, the Foundation received loan proceeds in the amount of $1,398,100 under the Paycheck Protection Program (the 'PPP'). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (the 'CARES Act'), provides for loans to qualifying entities for amounts up to 2.5 times their 2019 average monthly payroll expenses of the qualifying entity. The PPP loan bears an interest rate of 1% per annum. "All or a portion of the PPP loan principal and accrued interest is forgivable as long as the borrower uses the loan proceeds for eligible purposes...over a period between eight to twenty-four weeks from the date the loan proceeds are received (the 'Covered Period'). The amount of loan forgiveness could be reduced if the borrower terminates employees or reduces salaries above a certain threshold during the Covered Period and does not qualify for certain safe harbors. The unforgiven portion of the PPP Loan, if any, is payable within two years from the date of the PPP loan with a deferral of payments of principal or interest until the amount of loan forgiveness is approved by the SBA [Small Business Administration]. "As of December 31, 2020, the PPP loan is recognized as debt in the [audited] statement of financial position. The Foundation will recognize the income from forgiveness of the PPP loan when it receives the notification of forgiveness from SBA... As of April 26, 2021, the SBA has notified the Foundation that the PPP loan has been forgiven." |
According to the National Hemophilia Foundation audit of December 31, 2020 (Note 14, Subsequent Events, Paycheck Protection Program Loan): "On March 30, 2021, the Organization received loan proceeds in the amount of $1,541,013 under Second Draw provisions of the PPP [Paycheck Protection Program] as authorized by the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (the 'Economic Aid Act'). The Second Draw provisions of the Economic Aid Act provides for loans to qualifying entities for amounts up to 2.5 times their 2019 or 2020 average monthly payroll expenses. The Second Draw PPP loan bears an interest rate of 1% per annum. All or a portion of the Second Draw PPP loan principal and accrued interest are forgivable as long as the borrower uses the loan proceeds for eligible purposes...over a period between eight to twenty-four weeks from the date the Second Draw PPP loan proceeds are received (the 'Second Draw Covered Period'). "The amount of loan forgiveness could be reduced if the borrower terminates employees or reduces salaries above a certain threshold during the Second Draw Covered Period and does not qualify for certain safe harbors. The unforgiven portion of the Second Draw PPP Loan, if any, is payable over five years from the date of the PPP loan with a deferral of payments of principal or interest until the amount of loan forgiveness is approved by the SBA [Small Business Administration]. If the Foundation does not apply for forgiveness, payments begin approximately sixteen months after the loan date." According to the National Hemophilia Foundation audit of December 31, 2020 (Note 14, Subsequent Events, COVD-19): "The Foundation's operations and financial performance may continue to be affected by the COVID-19 virus. If the outbreak continues and conditions worsen, it may continue to adversely affect the Foundations activities, financial conditions, results of operations, and cash flows. Economic uncertainty is related to the potential reduction and/or delays in contributions related to a decrease in discretionary income from potential donors. Management is unable to estimate the financial impact, if any, related to this matter. However, the Foundation has taken steps to maintain its financial liquidity and flexibility." |
According to the National Hemophilia Foundation 2020 tax filing, the Foundation 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): "Val Bias received a severance package of $411,459 during 2020." [Val Bias is reported as "Former Chief Executive Officer," with total compensation of $411,459 in 2020 (Schedule J, Part II).] Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7): "The CEO shall be eligible to receive an annual bonus of up to 10% of base salary based on performance in a contract year. The form and amount of any performance bonus shall be within the board's discretion. The bonus determination will be made pursuant to a formalized review process conducted by the board of directors."
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