BBB Wise Giving Report for
Marc Lustgarten Pancreatic Cancer Research Foundation

BBB Wise Giving Report issued May 2010
BBB Wise Giving Report expires May 2012


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Marc Lustgarten Pancreatic Cancer Research Foundation
Address: 1111 Stewart Avenue
  Bethpage, NY 11714
Phone: 516-803-2304
866-789-1000
Web Address: www.lustgarten.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1998, New York
Affiliates: None
Stated Purpose: "to advance the scientific and medical research related to the diagnosis, treatment, cure and prevention of pancreatic cancer."

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Evaluation Conclusions

               

Marc Lustgarten Pancreatic Cancer Research Foundation (MLPCRF) does not meet the following Standard for Charity Accountability.

Standard 3: Frequency and Attendance of Board Meetings - An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

MLPCRF does not meet this Standard because:

  • The board of directors held two meetings in the past year.
Marc Lustgarten Pancreatic Cancer Research Foundation (MLPCRF) meets the remaining 19 Standards for Charity Accountability.
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Programs

               

MLPCRF concentrates on stimulating the scientific community to conduct the research necessary to find early detection methods, better treatments and a cure for pancreatic cancer. Toward this end, the organization sponsors an annual scientific conference and supports pancreatic cancer research. MLPCRF also provides patients and caregivers with information, including "Understanding Pancreatic Cancer: A Guide for Patients and Caregivers," the "Interview with an Expert" patient information series, and a website linking to resources.

For the year ended December 31, 2008, MLPCRF's program expenses were:

  
Research 2,729,424
Patient education and information 837,862
Scientific conferences 302,466
Total Program Expenses: $3,869,752
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Governance

               

Chief Executive : Kerri Kaplan, Executive Director
Compensation*:
 $227,937

Chair of the Board: Mr. Charles F. Dolan
Chair's Profession / Business Affiliation: Chairman, Cablevision Systems Corporation

Board Size: 10

Paid Staff Size: 10

*2008 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, print advertisements, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $7,985,139, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on MLPCRF's audited financial statements for the year ended December 31, 2008.

Source of Funds  
Special events (net) 3,772,595
Contributions 3,412,482
Contributed services 800,062
Dividends and interest 469,351
Total Income $8,454,490


chart



Uses of Funds as a % of Total Expenses

Programs: 79%  Fund Raising: 7%  Administrative: 14% 

Total income   $8,454,490
  Program expenses $3,869,752
  Fund raising expenses 329,228
  Administrative expenses 663,416
 
Total expenses   $4,862,396
Income in Excess of Expenses   3,592,094
Beginning net assets   13,981,457
Other Changes in Net Assets (2,199,536)
Ending net assets   15,374,015
Total liabilities   631,730
Total assets   $16,005,745

Note 1: In the financial section above, "other changes in net assets" refers to a net depreciation in fair value investments (-2,152,814) and pension related changes other than net periodic benefit cost ($46,722).
Note 2: MLPCRF reports receiving $800,062 in in-kind contributions, which consist of accounting services and use of facilities provided by Cablevision.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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