GOLD2023

TargetCancer Foundation

Cambridge, MA   |  www.targetcancerfoundation.org
GuideStar Charity Check

TargetCancer Foundation

EIN: 26-4510094


Mission

TargetCancer Foundation promotes the development of lifesaving treatment protocols for rare cancers. TargetCancer Foundation directly supports initiatives at the forefront of cancer treatment by funding innovative research, fostering collaborations, and raising awareness among scientists, clinicians, and patients.

Ruling year info

2009

President

Kristen Palma Poth

Executive Director

Jim Palma

Main address

955 Massachusetts Avenue #343

Cambridge, MA 02139 USA

Show more contact info

EIN

26-4510094

Subject area info

Health

Cancers

Unknown or not classified

Population served info

People with diseases and illnesses

NTEE code info

Cancer (G30)

Cancer Research (H30)

Fund Raising and/or Fund Distribution (H12)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Blog

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Fundraising

TargetCancer is funded entirely by donors through various methods of fundraising.

Population(s) Served

TargetCancer provides grants to organizations performing research into the treatment of rare cancers.

Population(s) Served

TargetCancer seeks to inform and educate people about rare cancers, and the lack of treatment and funding that exists for them.

Population(s) Served

TargetCancer Foundation provides direct guidance and support to patients facing rare cancers.

Population(s) Served
People with diseases and illnesses

Where we work

Awards

The One Hundred 2012

Massachusetts General Hospital Cancer Center

Patient Advocate Fellow, 2014 Annual Meeting 2014

DIA

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

By granting seed funding to critical projects that would otherwise not be supported at their initial stages, TargetCancer Foundation supports young, courageous scientists who are committed to finding effective new therapies for rare cancers. TargetCancer Foundation seeks to support the most innovative research with the greatest potential for rapid translation to approved therapies for rare cancers. TargetCancer Foundation also seeks to support patients directly through financial assistance, as well as clinical trial guidance.

By choosing the right grant recipients and building collaborations between them, TargetCancer Foundation is making a major impact with relatively small grants. These collaborations, which may not otherwise happen without TargetCancer Foundation's facilitation, are leading to results in months that could otherwise take years.

Over the past four years TargetCancer Foundation has built a solid infrastructure that provides a foundation by which it will continue to successfully grow in the years to come. Among many other areas, this especially applies to:
- Active and substantial fundraising, through an annual gala and other events.
- Effective governance through an active and well functioning Board.
- An active Scientific Advisory Board who guides TargetCancer Foundation on both specific funding requests and general organizational direction.
- A dedicated group of volunteers who advocate on behalf of TargetCancer Foundation and the populations that it serves.

In February 2016, TargetCancer Foundation announced a new round of rare cancer research grant funding, with $200,000 in new grants supporting research into cholangiocarcinoma and esophageal cancer.

In addition, TargetCancer Foundation announced the launch of a new Patient Assistance Fund, which provides direct financial assistance for expenses incurred when participating in rare cancer clinical trials.

2016 also saw the launch of the Evan Schumacher Fund for Rare Cancer Research, TargetCancer Foundation's first managed fund. Founded in memory of Evan Schumacher, this fund honors his legacy by funding innovative rare cancer research projects.

Financials

TargetCancer Foundation
Fiscal year: Feb 01 - Jan 31
Financial documents
2020 TargetCancer Foundation
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

0.00

Average of 0.00 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

11

Average of 8.3 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

8%

Average of 9% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

TargetCancer Foundation

Revenue & expenses

Fiscal Year: Feb 01 - Jan 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

TargetCancer Foundation

Balance sheet

Fiscal Year: Feb 01 - Jan 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

TargetCancer Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Feb 01 - Jan 31

SOURCE: IRS Form 990 info

This snapshot of TargetCancer Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2019 2020 2021 2022 2023
Unrestricted surplus (deficit) before depreciation $19,511 $255,997 -$70,352 $43,180 $172,684
As % of expenses 5.6% 55.9% -11.9% 9.2% 24.5%
Unrestricted surplus (deficit) after depreciation $19,511 $255,997 -$70,352 $43,180 $172,684
As % of expenses 5.6% 55.9% -11.9% 9.2% 24.5%
Revenue composition info
Total revenue (unrestricted & restricted) $383,824 $713,908 $522,987 $510,511 $846,106
Total revenue, % change over prior year 11.9% 86.0% -26.7% -2.4% 65.7%
Program services revenue 0.0% 4.6% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.1% 0.1% 0.1% 0.1% 0.2%
Government grants 0.0% 0.0% 6.9% 7.4% 0.0%
All other grants and contributions 99.9% 95.3% 93.0% 92.5% 99.8%
Other revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $345,981 $457,911 $593,339 $467,331 $704,653
Total expenses, % change over prior year -5.7% 32.4% 29.6% -21.2% 50.8%
Personnel 42.4% 42.1% 36.1% 47.2% 41.6%
Professional fees 3.6% 21.6% 31.8% 37.8% 23.9%
Occupancy 6.4% 5.8% 3.0% 3.5% 3.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 31.8% 20.2% 21.1% 2.1% 14.2%
All other expenses 15.8% 10.3% 8.0% 9.4% 17.3%
Full cost components (estimated) info 2019 2020 2021 2022 2023
Total expenses (after depreciation) $345,981 $457,911 $593,339 $467,331 $704,653
One month of savings $28,832 $38,159 $49,445 $38,944 $58,721
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $374,813 $496,070 $642,784 $506,275 $763,374

Capital structure indicators

Liquidity info 2019 2020 2021 2022 2023
Months of cash 8.4 13.1 8.7 12.1 11.0
Months of cash and investments 8.4 13.1 8.7 12.1 11.0
Months of estimated liquid unrestricted net assets 8.4 13.1 8.7 12.1 11.0
Balance sheet composition info 2019 2020 2021 2022 2023
Cash $243,622 $499,619 $429,267 $472,447 $645,131
Investments $0 $0 $0 $0 $0
Receivables $0 $0 $0 $0 $0
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 0.0% 0.0% 0.0% 0.0% 0.0%
Unrestricted net assets $243,622 $499,619 $429,267 $472,447 $645,131
Temporarily restricted net assets $0 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $0 $0 $0 $0 $0
Total net assets $243,622 $499,619 $429,267 $472,447 $645,131

Key data checks

Key data checks info 2019 2020 2021 2022 2023
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

President

Kristen Palma Poth

Kristen has worked in public service her entire career. She began as a Victim Witness Advocate in the Suffolk County District Attorney's Office in Boston, where she met her husband Paul Poth, founder of TargetCancer. She worked as a project manager for youth development programs for the Massachusetts Attorney General's Office, as well as the Public Affairs Director for the Massachusetts Office for Victim Assistance. In addition, she served as a working group leader at the United Nations Conference for the Establishment of an International Criminal Court in Rome, Italy. She received her BA from Skidmore College and a Masters in International and Public Affairs from Columbia University.

Executive Director

Jim Palma

Since joining TargetCancer Foundation in 2010, Jim has overseen its growth from a small start-up to a nationally recognized foundation supporting comprehensive rare cancer research programs and patient support services. Prior to joining TargetCancer Foundation, he spent eleven years at Fidelity Investments in Boston, MA. Jim is Vice Chairman of the Board of Directors of the National Organization for Rare Disorders (NORD), and is a founding Co-Chair of the NORD Rare Cancers Coalition. In addition, Jim is a Steering Committee member at the GI Cancers Alliance, and the Global Cholangiocarcinoma Alliance. Jim completed studies at the Institute for Nonprofit Management and Leadership at the Questrom School of Business at Boston University, and received his B.A. from Loyola University Maryland.

Number of employees

Source: IRS Form 990

TargetCancer Foundation

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

TargetCancer Foundation

Board of directors
as of 10/18/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Kristen Palma Poth

No Affiliation

Kristen Palma Poth

No Affiliation

James Palma

No Affiliation

Sam Davenport

No Affiliation

Janet Fine

No Affiliation

Christopher Chapman

Kristen Scammon

Jerry Alderman

Andrea Sullivan

Colin Carey

Mary Pat Lancelotta

Jennifer Carter

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 10/18/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Decline to state
Sexual orientation
Decline to state
Disability status
Decline to state

The organization's co-leader identifies as:

Race & ethnicity
Decline to state
Sexual orientation
Decline to state
Disability status
Decline to state

Race & ethnicity

No data

Gender identity

No data

Transgender Identity

No data

Sexual orientation

No data

Disability

No data

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.