Damon Runyon Cancer Research Foundation
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Damon Runyon Cancer Research Foundation does not meet the following 1 Standards for Charity Accountability:
Standard 10 (Ending Net Assets)
Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.
DRCRF does not meet this Standard because:
- According to its audited financial statements for the year ended June 30, 2023, the organization's total unrestricted net assets were $97,419,092, or 4.5 times the charity's total expenses of $21,852,860.
In response to the finding, the charity stated:
"The Foundation guarantees that 100% of all contributions are used for cancer research. This promise is primarily funded by our investment returns. In order to provide sufficient income to cover the operating expenses of the organization, the endowment must be maintained at an appropriate level. This guarantee is clearly documented and monitored on our audited financial statement.
In addition to the 100% promise, we make significant multi-year commitments to our grantees. Therefore, it is essential that we have several years of funding on hand so that we can meet our commitments even during difficult economic times. Since our investments have performed well, we have been able to increase our grant programs. Over the past several years, we have increased our award stipends multiple times to reflect inflation and increases in the cost of living expenses for our awardees."
Damon Runyon Cancer Research Foundation meets the remaining 19 Standards for Charity Accountability.
Stated Purpose:
"to accelerate breakthroughs by identifying the most brilliant, creative and driven young scientists and providing them with funding to pursue innovative new approaches to cancer."
Year, State Incorporated:
1947, NY
Also Known As:
Cancer Research Fund of the Damon Runyon - Walter Winchell Foundation
Damon Runyon Cancer Research Foundation (DRCRF) currently awards grants to scientists pursuing cancer research. The Damon Runyon Fellowship Award enables postdoctoral scientists to work independently on a research project while under the mentorship of a leading investigator. The Damon Runyon-St. Jude Pediatric Cancer Fellowship Award funds basic or clinical research specifically aimed at the prevention, diagnosis, or treatment of pediatric cancers. The Damon Runyon Quantitative Biology Fellowship Award encourages computational scientists to bring their skills to bear on important biological questions, particularly in cancer. The Damon Runyon-Dale F. Frey Award for Breakthrough Scientists is awarded to Damon Runyon Fellows who have greatly exceeded the Foundation’s highest expectations. The Foundation will make an additional investment in these individuals at the end of their Fellowship. The Damon Runyon-Rachleff Innovation Award provides support for junior independent researchers with bold ideas who lack sufficient preliminary data to obtain traditional funding. Instead of supporting incremental advances, the award funds out-of-the-box research with potential for high impact in the cancer field. The Damon Runyon Clinical Investigator Award supports independent young physician-scientists who are conducting creative, disease-oriented research that bridges laboratory and clinic to make discoveries that will directly impact patients. The Damon Runyon Physician-Scientist Training Award is for clinicians who discovered a passion for research later in their medical training. The award offers protected research training experience under a highly qualified and gifted mentor. Damon Runyon SPARK (Scholars Program for Advancing Research and Knowledge) scientists are recent college graduates from backgrounds currently underrepresented in the sciences who are interested in honing their research skills before applying to graduate school. SPARK Scholars match with current and former Damon Runyon Scientists from seven partnering academic institutions across the United States, embedding fully into their host labs to acquire hands-on scientific training, learn from comprehensive mentorship, gain support with graduate school applications, and have access to all the benefits afforded to post-baccalaureate researchers at that institution.
For the year ended June 30, 2023, Damon Runyon Cancer Research Foundation's program expenses were:
| Fellowship awards | $7,265,032 |
| Physician-scientist awards | $1,368,016 |
| Quantitative biology awards | $533,550 |
| Dale Frey awards | $700,000 |
| Clinical investigator awards | $3,555,230 |
| Rachleff innovation awards | $3,199,458 |
| Other program expense | $2,348,834 |
| Total Program Expenses | $18,970,120 |
Chief Executive
Yung S. Lie, PhD, President and Chief Executive Officer
Compensation*
$525,241
Chair of the Board
Deborah J. Coleman
Chair's Profession / Business Affiliation
Retired, Financial Services Attorney
Board Size
38
Paid Staff Size
17
*2021 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Telemarketing, Foundation grants, Print advertisements, Corporate solicitation
Fundraising costs were 25% of related contributions. (Related contributions, which totaled $8,630,301, are donations received as a result of fundraising activities.)
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.
The following information is based on Damon Runyon Cancer Research Foundation's audited financial statements for the year ended June 30, 2023.
Source of Funds
| Bequests, net | $105,361 |
| Theater ticket revenue, net | $173,771 |
| Incomes from amounts held in trust by others | $236,589 |
| In-kind contributions | $372,000 |
| Miscellaneous income | $833,686 |
| Contributions | $8,487,579 |
| Investment return | $14,412,590 |
| Total Income | $24,621,576 |
Programs: 87% Fundraising: 9% Administrative: 4%
| Total Income | $24,621,576 |
| Total expenses: | $21,852,860 |
| Program expenses | $18,970,120 |
| Fundraising expenses | $1,977,080 |
| Administrative expenses | $905,660 |
| Other expenses | $0 |
| Income in Excess of Expenses | $2,768,716 |
| Beginning Net Assets | $111,641,431 |
| Other Changes In Net Assets | $349,568 |
| Ending Net Assets | $114,759,715 |
| Total Liabilities | $32,920,972 |
| Total Assets | $147,680,687 |
Note 1: According to DRCRF's audited financial statements for the year ended June 30, 2022, the organization received in-kind contributions totaling $378,000 in the form of advisory committee and award panel services.
Note 2: In the financial section above, "other changes in net assets" refers to change in value of charitable remainder trusts (-$186,730) and change in value of perpetual trusts (-$1,212,513).
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 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 International Association of Better Business Bureaus.
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Meets Standards
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Standards Not Met
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance