CharityWatch's rating of Christopher & Dana Reeve Foundation includes the consolidated financial accounts of Christopher & Dana Reeve Foundation and SCI Ventures LLC. All material inter-company transactions have been eliminated in the audit consolidation.
According to the Christopher and Dana Reeve Foundation consolidated audit of June 30, 2025 (Note 1, Nature of the Organization and Summary of Significant Accounting Policies, Nature of the Organization): "...SCI Ventures LLC ('SCI') is a single member LLC of which CRF is the sole member. SCI was formed solely for charitable
purposes to materially accelerate the research and development of new, life changing breakthroughs that have the
potential of providing a cure or treatment of spinal cord injury by (i) investing SCI assets in companies and other
entities that are developing cures for spinal cord injury, technology with spinal cord potential or treatments that
potentially could improve the quality of life for people with paralysis, (ii) attracting donations, and (iii) engaging in any
other lawful activities determined by the Board to be necessary or advisable in furtherance of the foregoing activities
and all other activities necessary or incidental to the foregoing."
According to the Christopher and Dana Reeve Foundation consolidated audit of June 30, 2025 (Note 8, Related Parties): "In conjunction with SCI Ventures, LLC certain Organization officers, directors or employees may periodically also
participate on the board or advisory committee of the investments held by SCI Ventures, LLC."
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According to the Christopher and Dana Reeve Foundation consolidated audit of June 30, 2025 (Note 1, Nature of the Organization and Summary of Significant Accounting Policies, Investments at Cost): "For certain equity securities without readily determinable fair values and the Organization owns less than 20%, the
Organization has elected to measure these investments at cost minus impairment, if any, plus or minus changes
resulting from observable price changes in orderly transactions for the identical or a similar investment of the same
issuer. Management reviews these investments annually for impairment. At June 30, 2025, management has
determined that these investments are not impaired. (See Note 4)"
According to the Christopher and Dana Reeve Foundation consolidated audit of June 30, 2025 (Note 4, Investments at Cost): "The Organization’s investments accounted for on the cost method of accounting as of June 30, 2025, is as follows:" [the following has been formatted for presentation purposes] Augmental Technologies Inc.: $500,000 Healx Limited: $2,000,000 S.A.S EG427: $524,999 Precision Neuroscience: $999,997 Sania Therapeutics Inc.: $999,999 Axonis: $1,439,997 Total: $6,464,992
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According to the Christopher & Dana Reeve Foundation 2025 tax filing: "There is a family relationship between three Board of Directors members" (IRS Form 990, Schedule O re: Form 990, Part VI, Section A, line 2). The Foundation reports having nineteen voting members on its governing body at the end of fiscal 2025, with all nineteen members being reported as independent (IRS Form 990, Part VI, Section A, lines 1a & 1b). |