BBB Wise Giving Report for
Accelerated Cure Project for Multiple Sclerosis

BBB Wise Giving Report issued March 2011
BBB Wise Giving Report expires March 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Accelerated Cure Project for Multiple Sclerosis
Address: 300 Fifth Avenue
  Waltham, MA 02451
Phone: 781-487-0008
Web Address: www.acceleratedcure.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2001, Massachusetts
Affiliates: None

Stated Purpose: "to cure MS by determining its causes."

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Evaluation Conclusions

               

Accelerated Cure Project for Multiple Sclerosis (ACP) meets the 20 Standards for Charity Accountability.
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Programs

               

ACP is involved in creating a collection of biological samples and data from people with multiple sclerosis, other demyelinating diseases, and unaffected controls. The organization makes the samples and data available to researchers studying the causes of MS and the information is used to build a database of experimental results obtained in the studies. In exchange for access to the repository, researchers agree to return the data they generate from the samples so that results from disparate experiments can be combined. In addition, ACP has created a “Cure Map” which is a systematic review of the scientific literature on the causes of MS. ACP also provides educational materials and produces community building events for people with MS and their families.

For the year ended December 31, 2009, ACP's program expenses were:

  
Repository program 1,660,354
Education and community building 199,203
Cure Map 34,246
Total Program Expenses: $1,893,803
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Governance

               

Chief Executive : Peter H. Schmidt, Interim CEO
Compensation*:

Chair of the Board: John Alam, M.D.
Chair's Profession / Business Affiliation: Senior Vice President of Drug Evaluation & Approval at Vertex Pharmaceuticals

Board Size: 7

Paid Staff Size: 8

*2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. Prior to Mr. Schmidt's appointment as interim CEO, Ms. Carolyn Cronin was CEO of ACP and she was compensated $148,728 in 2009.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 9% of related contributions. (Related contributions, which totaled $5,032,857, 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 ACP's audited financial statements for the year ended December 31, 2009.

Source of Funds  
Contribution revenue 4,507,012
Special events revenue, net 525,845
Interest income 10,837
Total Income $5,043,694


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Uses of Funds as a % of Total Expenses

Programs: 72%  Fund Raising: 18%  Administrative: 10% 

Total income   $5,043,694
  Program expenses $1,893,803
  Fund raising expenses 456,552
  Administrative expenses 247,338
 
Total expenses   $2,597,693
Income in Excess of Expenses   2,446,001
Beginning net assets   1,472,317
Ending net assets   3,918,318
Total liabilities   192,197
Total assets   $4,110,515

Note: According to ACP's 2009 audited financial statements, the organization's in-kind donations totaled $168,582 which includes donated accounting services ($60,000), auction items ($55,000), food ($28,382), and printing ($25,200).

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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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