BBB Wise Giving Report for
Myasthenia Gravis Foundation of America

BBB Wise Giving Report issued February 2012
BBB Wise Giving Report expires February 2014


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: Myasthenia Gravis Foundation of America
Address: 355 Lexington Avenue, 15th Floor
  New York, NY 10017
Phone: 212-297-2156
Web Address: www.myasthenia.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1952, New York
Affiliates: 19 chapters

Stated Purpose: "to facilitate the timely diagnosis and optimal care of individuals affected by myasthenia gravis and closely related disorders and to improve their lives through programs of patient services, public information, medical research, professional education, advocacy and patient care."

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Evaluation Conclusions

               

Myasthenia Gravis Foundation of America (MGFA) meets the 20 Standards for Charity Accountability.
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Programs

               

MGFA provides information for patients, family and friends on issues relating to diagnosis, treatment and prognosis of myasthenia gravis. The organization’s chapters provide regular meetings and support. The Medical and Scientific Advisory Board spearhead research into the causes and treatment of the disease, while the organization funds research grants for postdoctoral candidates and provides scholarships to medical students. Some ($22,031 or 4%) of MGFA's program activities are carried out in conjunction with fund raising activities.

For the year ended December 31, 2010, MGFA's program expenses were:

  
Research 194,736
Chapter development 132,623
Annual meeting 91,200
Public information 74,916
Patient services 73,607
Medical and nurse advisory boards 16,928
Scientific session 9,230
Total Program Expenses: $593,240
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Governance

               

Chief Executive : Tor Holtan, CEO
Compensation*:
 Not disclosed

Chair of the Board: Samuel A. Schulhof
Chair's Profession / Business Affiliation: Co-Founder, Phoenix Fuel System, Inc.

Board Size: 19

Paid Staff Size: 0

*2010 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. MGFA indicates that the organiztion has no paid employees. According to MGFA, the group paid a firm $305,615 in 2010 for management services. MGFA did not disclose the amount of this that was paid to the CEO.
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Fund Raising

               

Method(s) Used:

Direct mail, Internet appeals, planned giving, and membership appeals.
Fund raising costs were 10% of related contributions. (Related contributions, which totaled $670,483, are donations received as a result of fund raising activities.)
MGFA incurred joint costs of $32,357 for informational materials and activities that included fund raising materials. Of those costs, $22,031 was allocated to program expenses, $7,962 was allocated to fund raising expenses, and $2,364 was allocated to administrative expenses.
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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 MGFA's audited financial statements for the year ended December 31, 2010.

Source of Funds  
Investment income 524,380
Legacies 336,963
Individuals 145,351
Meeting and convention fees 97,600
Chapters 82,325
Chapter assessments 76,522
Public agencies 50,720
Corporations 28,675
Foundations 26,449
Boards 6,775
Other 3,858
Merchandise sales 2,579
Total Income $1,382,197


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Uses of Funds as a % of Total Expenses

Programs: 79%  Fund Raising: 9%  Administrative: 12% 

Total income   $1,382,197
  Program expenses $593,240
  Fund raising expenses 67,832
  Administrative expenses 89,276
 
Total expenses   $750,348
Income in Excess of Expenses   631,849
Beginning net assets   4,904,924
Ending net assets   5,536,773
Total liabilities   300,284
Total assets   $5,837,057


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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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