Lustgarten Foundation meets the 20 Standards for Charity Accountability.
-
Year, State Incorporated
1998, NY
-
-
-
Stated Purpose
"to cure pancreatic cancer by funding scientific and clinical research related to the diagnosis, treatment and prevention of pancreatic cancer; providing research information and clinical support services to patients, caregivers and individuals at high risk; and increasing public awareness and hope for those dealing with this disease."
Lustgarten Foundation reports that it is focused on funding and supporting research for pancreatic cancer. The research includes biological mechanisms and clinical strategies related to the prevention, diagnosis, and treatment of pancreatic cancer. The organization states that it raises public awareness about pancreatic cancer, facilitates dialogue among members of the medical and scientific communities, and provides information support for pancreatic cancer patients, their families, and friends. In 2018, Lustgarten Foundation reports that it invested $24 million in research grants, held nearly 350 community events and fundraisers nationwide, and established three additional dedicated pancreatic cancer laboratories.
For the year ended June 30, 2019, Lustgarten Foundation's program expenses were:
Research |
$24,673,145 |
Public education and information |
$11,401,426 |
Professional education |
$261,711 |
Total Program Expenses: |
$36,336,282 |
-
Chief Executive
Kerri Kaplan, President and Chief Executive Officer
-
Compensation*
$404,224
-
Chair of the Board
Andrew Lustgarten
-
Chair's Profession / Business Affiliation
President, The Madison Square Garden Company
-
Board Size
15
-
Paid Staff Size
18
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Note: Robert Vizza, Executive Chairman, was the highest paid employee, receiving $409,997 in compensation.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Print advertisements (newspapers, magazines, etc.), Telephone appeals, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 8% of related contributions. (Related contributions, which totaled $26,301,285, 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 Lustgarten Foundation's audited financial statements for the year ended June 30, 2019.
Source of Funds |
Contributed media and services |
$10,331,929 |
Contributions |
$9,841,251 |
Special events, net |
$6,128,105 |
Dividends and interest, net |
$1,654,262 |
Royalties |
$101,120 |
Total Income |
$28,056,667 |
- Programs: 92%
- Fundraising: 5%
- Administrative: 3%
Total Income |
$28,056,667 |
Program expenses |
$36,336,282 |
Fundraising expenses |
$2,178,985 |
Administrative expenses |
$1,399,271 |
Other expenses |
$0 |
Total expenses: |
$39,914,538 |
Income in Excess of Expenses |
$-11,857,871 |
Beginning Net Assets |
$98,096,898 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$90,589,555 |
Total Liabilities |
$8,734,193 |
Total Assets |
$99,323,748 |
Note 1: As noted in the above financial section "other changes in net assets" refers to net appreciation in fair value of investments.
Note 2: According to the organization's audited financial statements for the year ended June 30, 2019, Lustgarten Foundation received in-kind gifts totaling $10,331,929 in the form of contributed media ($10,054,276) and audit services ($277,653).