| Entity | Document Type | Tax ID |
|---|---|---|
| National Bleeding Disorders Foundation | Consolidated Audited Financial Statements | Multiple |
| National Bleeding Disorders Foundation | IRS Form 990 | 13-5641857 |
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Entity: National Bleeding Disorders Foundation Document Type: Consolidated Audited Financial Statements Tax ID: Multiple |
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Entity: National Bleeding Disorders Foundation Document Type: IRS Form 990 Tax ID: 13-5641857 |
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Leonard Valentino | President / CEO | $419,563 |
| 2 | Teri Willey | Managing Director | $348,822 |
| 3 | Michael Recht | Chief Scientific Officer | $290,452 |
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1 Name: Leonard Valentino Title: President / CEO Compensation: $419,563 |
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2 Name: Teri Willey Title: Managing Director Compensation: $348,822 |
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3 Name: Michael Recht Title: Chief Scientific Officer Compensation: $290,452 |
The National Hemophilia Foundation changed its name to The National Bleeding Disorders Foundation. According to the National Bleeding Disorders Foundation (NBDF) consolidated audit of December 31, 2023 (Note 1, Nature of Organization): "The National Bleeding Disorders Foundation (formerly the National Hemophilia Foundation) ('NBDF') was incorporated in the State of New York on June 25, 1948. NBDF's mission is dedicated to finding cures for inheritable blood and bleeding disorders and addressing and preventing the complications of these disorders through research, education and advocacy, enabling people and families to thrive. NBDF and other independent organizations ('member chapters') actively collaborate in furthering the Foundation's mission throughout the United States. On June 23, 2011, five chapters merged with NBDF. On February 24, 2014 and January 27, 2016, a sixth and seventh chapter was created by the Foundation; consequently, the two subsequently created chapters along with those of the five previously merged chapters are included in the consolidated financial statements of NBDF. All other member chapters continue to operate independently of NBDF and thus, are not included in the consolidated financial statements of NBDF and are referred to as the 'member chapters'..." According to the National Bleeding Disorders Foundation (NBDF) consolidated audit of December 31, 2023 (Note 1, Nature of Organization, Affiliate): "The National Bleeding Disorders Foundation Venture Fund LLC (formerly the National Hemophilia Foundation Venture Fund LLC) doing business as Pathway to Cures ('P2C') was established during 2021 and operates as a nonprofit Delaware single member limited liability company. NBDF, its sole member, has limited liability for the obligations or debts of the entity. P2C is an initiative focused on fueling innovation and discovery in the treatment of inheritable blood and bleeding disorders..." According to the National Bleeding Disorders Foundation (NBDF) consolidated audit of December 31, 2023 (Note 2, Summary of Significant Accounting Policies, Principles of Consolidation): "The consolidated financial statements include the accounts of NBDF and P2C. All material intercompany transactions have been eliminated in consolidation." The seven chapters included in the 2023 consolidated audited financial statements of NBDF are: (1) Central Ohio Chapter, (2) Idaho Chapter, (3) Nevada Chapter, (4) Colorado Chapter, (5) Nebraska Chapter, (6) West Virginia Chapter, and (7) Hawaii Chapter. Given that the financial activities of these seven chapters and P2C are consolidated in NBDF's audited financial statements, they also are included in CharityWatch's rating of the National Bleeding Disorders Foundation. Our rating does not include the other, independently operated chapters of NBDF. |
According to the National Bleeding Disorders Foundation (the Foundation) consolidated audit of December 31, 2023 (Note 15, Litigation): "During the year ended December 31, 2022, the Foundation was a defendant in a legal proceeding arising during the normal course of business. As a result, management accrued $500,000 based on their best estimate of information that was available at the time and is included in accrued expenses in the consolidated statement of financial position at December 31, 2022. In August 2023, a settlement was reached through NBDF's insurance company. This resulted in the recognition of other income totaling $500,000 which is included in the consolidated statement of activities for the year ended December 31, 2023." |
According to the National Bleeding Disorders Foundation (the Foundation) consolidated audit of December 31, 2023 (Note 2, Summary of Significant Accounting Policies, Contributions and Grants): "...For the years ended December 31, 2023 and 2022, approximately 38% and 50% of the Foundation's total support and revenue was provided by two and three pharmaceutical companies... ...No other grantors accounted for more than 10% of revenue for the years ended December 31, 2023 and 2022... ...For the years ended December 31, 2023 and 2022, $518,015 and $1,894 of contributions and grants were received from board members and related entities..." |
According to the National Bleeding Disorders Foundation (NBDF) consolidated audit of December 31, 2023 (Note 5, Venture Investments): "During the year ended December 31, 2023, P2C purchased 214,500 shares of Spark Biomedical Inc.'s Series A Preferred Stock at $2.311 per share, which totaled $500,000. During the year ended December 31, 2023, NBDF purchased five units of Poster Child Film LLC for $10,000 per share, which totaled $50,000. Venture investments totaled $550,000 and $0 as of December 31, 2023 and 2022 and are included in the consolidated statement of financial position..." |
According to the National Bleeding Disorders Foundation (the Foundation) consolidated audit of December 31, 2023 (Note 9, Paycheck Protection Program Loan): "On March 30, 2021, the Foundation received loan proceeds in the amount of $1,541,013 under Second Draw provisions of the Paycheck Protection Program (the 'PPP') as authorized by the Economic Aid to Hard-Hit Small Businesses, 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 or 3.5 times their 2019 or 2020 average monthly payroll expenses. The PPP loans bear an interest rate of 1% per annum. In June 2022, the Foundation recognized the income from the forgiveness of the Second Draw PPP loan...upon receiving the notification of forgiveness from the SBA in June 2022 and is included in Paycheck Protection Program loan forgiveness in the 2022 consolidated statement of activities." |
According to the National Bleeding Disorders Foundation (the Foundation) 2023 tax filing, the Foundation reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III): Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7): "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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