BBB Wise Giving Report for
Multiple Myeloma Research Foundation

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


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Multiple Myeloma Research Foundation
Address: 383 Main Avenue, Fifth Floor
  Norwalk, CT 06851
Phone: 203-972-1250
Web Address: www.multiplemyeloma.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1998, Connecticut
Affiliates: None
Stated Purpose: "to relentlessly pursue innovative means that accelerate the development of next-generation multiple myeloma treatments to extend the lives of patients and lead to a cure."

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Evaluation Conclusions

               

Multiple Myeloma Research Foundation (MMRF) meets the 20 Standards for Charity Accountability.
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Programs

               

MMRF maintains and supports research programs- basic science, validation and clinical trials- designed to yield high-impact results in the short, mid, and long-term and ensure the delivery of more effective treatments. MMRF reports that it has supported more than 250 research grants at 100 institutions worldwide and has built collaborations with industry and academia.

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

  
Research 13,815,646
Education 1,666,752
Other program expenses 1,206,472
Awareness 364,599
Total Program Expenses: $17,053,469
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Governance

               

Chief Executive : Kathy Giusti, CEO
Compensation*:
 $297,148

Chair of the Board: W. Dana LaForge
Chair's Profession / Business Affiliation: Managing Partner, Brera Capital Partners, LLC

Board Size: 19

Paid Staff Size: 23

*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, telemarketing, special events, print advertisements, grant proposals, Internet appeals, planned giving, and cause-related marketing.
Fund raising costs were 9% of related contributions. (Related contributions, which totaled $20,421,840, 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 MMRF's audited financial statements for the year ended December 31, 2008.

Source of Funds  
Foundation grants 9,936,269
Contributions 7,001,152
Special event support (net) 3,484,419
Federal grants 475,796
Investment return 32,692
In-kind contributions 24,404
Total Income $20,954,732


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Uses of Funds as a % of Total Expenses

Programs: 88%  Fund Raising: 9%  Administrative: 3% 

Total income   $20,954,732
  Program expenses $17,053,469
  Fund raising expenses 1,781,766
  Administrative expenses 552,453
 
Total expenses   $19,387,688
Income in Excess of Expenses   1,567,044
Beginning net assets   4,778,467
Ending net assets   6,345,511
Total liabilities   12,098,201
Total assets   $18,443,712

Note: According to MMRF's 2008 audited financial statements, the organization received in-kind contributions in the amount of $146,662, including: printing ($65,000), design ($57,258), and legal ($24,404).

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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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