Overview
What is Spring Point Project?
Spring Point Project is a nonprofit organization situated in Minneapolis, Minnesota. Their primary focus is on breeding and raising Designated Pathogen-Free (DPF) medical-grade pigs for use in biomedical research studies. The ultimate goal is to develop a novel product for the treatment of Type 1 diabetes and other diseases. By producing a sufficient supply of suitable donor pigs, they aim to serve as islet donors for diabetic patients, potentially leading to a cure for diabetes. The organization has successfully produced over two thousand DPF pigs and isolated over 155 million porcine islets from DPF animals, supporting preclinical transplantation studies and clinical preparation activities. With a primary commitment to diabetes, Spring Point Project strives to become the preeminent source of medical-grade porcine tissue used to cure diseases. The organization currently employs 15 individuals.
Official website here: www.springpointproject.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Spring Point Project has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong emphasis on accountability and financial management. The charity received a perfect score in multiple areas, indicating a high level of transparency and oversight. With 100% independent board members and a robust audit and oversight committee, the organization demonstrates a commitment to ethical governance.
The financial health of Spring Point Project is also noteworthy, with a program expense ratio of 92.27%, which suggests that a significant portion of its funding is directed towards its mission rather than administrative costs. Their sound management practices, such as having a conflict of interest policy and comprehensive document retention strategies, further enhance their credibility in the nonprofit sector.
While the ratings are highly favorable, it is important for potential donors and supporters to continually assess the impact of the organization’s programs and initiatives. Nonetheless, the established financial and operational frameworks position Spring Point Project as a reliable and effective nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Spring Point Project legitimate?
Spring Point Project is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spring Point Project submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $232,536
Professional Fundraising Fees: $0
Other Salaries and Wages: $861,199
For more financial information, click here
Official website here: www.springpointproject.org
What is the mission statement of Spring Point Project?
The Spring Point Project's mission is to establish itself as a leading source of medical-grade tissue, primarily focused on curing diseases, with a significant commitment towards diabetes. The organization breeds and raises pathogen-free pigs for biomedical research, aiming to develop a novel product to treat Type 1 diabetes and other diseases. The long-term objective is to produce a sufficient supply of suitable donor pigs for islet transplants, potentially leading to a cure for diabetes. Various activities, including pancreas procurement, islet isolation, and encapsulation, are underway to prepare for the submission of an Investigational New Drug Application (IND) for clinical studies. To date, the organization has produced over two thousand pathogen-free pigs and manufactured over 155 million porcine islets for supporting preclinical transplantation studies and Phase I/II clinical preparation activities, as well as validating the manufacturing of a clinically suitable product in their on-site cellular manufacturing facility.
Official website here: www.springpointproject.org
Who is the CEO of Spring Point Project?
Thomas Spizzo is the Board Chair of Spring Point Project.
Official website here: www.springpointproject.org
What is the revenue of Spring Point Project?
Spring Point Project's revenue in 2022 was $3,148,339.
Official website here: www.springpointproject.org
Who are the executives of Spring Point Project and what are their salaries?
The average compensation at Spring Point Project during 2022 was $72,916. There are 15 employees and 7 volunteers at Spring Point Project.
Here are 8 key members and their salaries:
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- Compensation: $196,003
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- Other: $36,533
Official website here: www.springpointproject.org
Where can I find the form 990 for Spring Point Project?
Spring Point Project's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.springpointproject.org
Learn more at the official website: www.springpointproject.org
Mission Statement of Spring Point Project
Spring Point Project, a leading organization, is committed to becoming the premier source of medical-grade porcine tissue, with a primary focus on curing diseases, particularly Type 1 Diabetes. Their mission is twofold: firstly, they breed and raise designated pathogen-free (DPF) pigs for use in biomedical research studies. The ultimate goal is to produce a sufficient supply of suitable donor pigs, which can serve as islet donors for diabetic patients, potentially leading to a cure for diabetes.
Secondly, Spring Point Project engages in pancreas procurement, islet isolation, and encapsulation activities to prepare an Investigational New Drug Application (IND), a necessity for clinical studies. To date, the organization has produced over two thousand DPF pigs and isolated over 155 million porcine islets from DPF animals, supporting preclinical transplantation studies, as well as Phase I/II clinical preparation activities. The organization's long-term objective is to validate the Good Manufacturing Practices (CGMP) manufacturing of a clinically suitable product in their on-site cellular manufacturing facility.
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Impact
August, 2024
Spring Point Project's impact lies in its groundbreaking work in providing medical-grade porcine islets to replace those lost in type 1 diabetes. Through the breeding and raising of designated pathogen-free (DPF) medical-grade pigs, the organization is paving the way for the development of a novel product for the treatment of type 1 diabetes and other diseases. Their long-term objective of producing a sufficient supply of suitable donor pigs to serve as islet donors for diabetic patients holds the promise of ultimately curing diabetes.
Notably, Spring Point Project has produced over two thousand DPF pigs and isolated over 155 million porcine islets from these animals, thus supporting preclinical transplantation studies, phase I/II clinical preparation activities, and the validation of cGMP manufacturing of a clinically suitable product. Their efforts have led to significant progress towards enabling the preparation of an Investigational New Drug Application (IND) necessary for clinical studies.
By being at the forefront of medical research in the field of diabetes and utilizing porcine tissue to cure diseases, Spring Point Project is making a profound impact on the future of healthcare and offering hope to those affected by type 1 diabetes and other related conditions.
This information is meant to be a general summary of Spring Point Project. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$12,201
- Program Service Revenue: $3,156,701
- Gross Receipts: $4,673,077
Assets and Liabilities:
- Total Assets: $7,612,511
- Total Liabilities: $257,535
- Net Assets: $7,354,976
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PORCINE PRODUCTS
Revenue
$2,035,532
MANUFACT, FEE REIMBURS
Revenue
$1,111,419
CONSULTING FEE
Revenue
$9,750
Organization Details
Founding Year
2004
Phone
(612) 333-4108Principal Officer
Thomas Spizzo
Main Address
121 SOUTH EIGHTH STREET 822, MINNEAPOLIS, MN, 55402
Website
www.springpointproject.orgNTEE Category
Code: H80 - Medical research
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