Overview
What is Receptions For Research The Greg Olsen Foundation?
Receptions For Research The Greg Olsen Foundation, established in 2009, is a nonprofit organization based in Fort Lauderdale, Florida. Their mission is to support hospitals, doctors, and scholars in enhancing the lives of individuals affected by various forms of debilitating diseases, such as cancer and cardiovascular diseases or disorders. They achieve this by partnering with local and national organizations in their pursuit of discovering cures for these conditions. A significant part of their work involves the creation of Heartworks, established in 2020, which aims to accelerate and expand the product development pioneered by the Todd and Karen Wanek Family Program for Hypoplastic Left Heart Syndrome (HLHS) at Mayo Clinic. Through Heartworks, they are developing cell-based therapies for Congenital Heart Disease (CHD), some of which are currently in clinical trials. With a combined average of nearly 30 years of experience across various disciplines, their team of experts is focused on advancing research in genetics, stem cell biology, clinical trials, and cell-based manufacturing. They are collaborating with a consortium of world-class medical institutions to conduct multiple cell-based clinical trials simultaneously. The foundation's vision is to foster trust with benefactors, CHD children and families, and partner institutions by sharing data and outcomes, making it possible to achieve transformative product development for the CHD community.
Official website here: www.receptionsforresearch.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (2 Stars, 67%)
Receptions For Research The Greg Olsen Foundation has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement despite some notable strengths. The organization shows a strong program expense ratio of 76.45%, reflecting its commitment to programmatic spending. Additionally, it scores exceptionally well in culture and community, earning a score of 91, which suggests a positive internal environment and engagement with the community.
The foundation demonstrates a solid commitment to governance with 90% of its board members being independent, and it has established key policies such as conflict of interest and whistleblower protections. Furthermore, it has effectively documented board meeting minutes and shown a proactive approach to collecting and utilizing feedback from stakeholders, scoring 100 in both categories. However, the foundation struggles with a high liabilities to assets ratio of 115.81%, which raises concerns about its financial stability.
While the organization excels in transparency and governance, the challenges in collecting feedback highlight areas needing attention. Addressing these issues could enhance its overall performance and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Receptions For Research The Greg Olsen Foundation legitimate?
Receptions For Research The Greg Olsen Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Receptions For Research The Greg Olsen Foundation 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: $155,962
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.receptionsforresearch.org
What is the mission statement of Receptions For Research The Greg Olsen Foundation?
The Receptions for Research The Greg Olsen Foundation's mission is centered around providing essential resources to improve the lives of individuals affected by debilitating diseases, such as cancer and cardiovascular disorders. Established in 2009, the foundation aims to partner with local and national organizations to discover cures for these diseases. Their ultimate goal is to ensure that everyone has a second chance at life. The foundation supports hospitals, doctors, and scholars in their endeavors to enhance patient care and outcomes.
Official website here: www.receptionsforresearch.org
What is the revenue of Receptions For Research The Greg Olsen Foundation?
Receptions For Research The Greg Olsen Foundation's revenue in 2023 was $1,460,697.
Official website here: www.receptionsforresearch.org
Who are the executives of Receptions For Research The Greg Olsen Foundation and what are their salaries?
The average compensation at Receptions For Research The Greg Olsen Foundation during 2023 was $77,981. There are 2 employees and 50 volunteers at Receptions For Research The Greg Olsen Foundation.
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Official website here: www.receptionsforresearch.org
Where can I find the form 990 for Receptions For Research The Greg Olsen Foundation?
Receptions For Research The Greg Olsen Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.receptionsforresearch.org
Learn more at the official website: www.receptionsforresearch.org
Mission Statement of Receptions For Research The Greg Olsen Foundation
Receptions For Research The Greg Olsen Foundation, established in 2009, is committed to enhancing the lives of individuals affected by debilitating diseases such as cancer and cardiovascular diseases or disorders. The organization's mission is to supply hospitals, doctors, and scholars with the necessary resources to advance research in the quest for a cure for these diseases. By partnering with local and national organizations, Receptions For Research The Greg Olsen Foundation aims to contribute to the discovery of cures for these debilitating conditions. The ultimate goal of the foundation is to ensure that everyone has a second chance in life, implying a renewed sense of hope and possibility for those affected by these diseases.
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Impact
October, 2024
Receptions For Research The Greg Olsen Foundation significantly enhances the lives of individuals affected by debilitating diseases, particularly focusing on cancer and cardiovascular conditions. Through initiatives like HeartWorks, launched in June 2020, the organization accelerates and broadens the development of innovative treatments for Hypoplastic Left Heart Syndrome (HLHS).
HeartWorks builds on the pioneering work of the Todd and Karen Wanek Family Program at Mayo Clinic, which has created a nationwide research consortium dedicated to advancing cell-based therapeutics for congenital heart disease (CHD). This consortium enables multiple clinical trials to be conducted simultaneously, fostering collaboration among leading medical institutions. By leveraging the expertise of a multidisciplinary team—comprising physicians, scientists, and engineers with an average of 30 years of experience—HeartWorks is positioned to further research in critical areas such as genetics and stem cell biology.
The foundation's commitment to sharing data and outcomes cultivates trust among benefactors, families of children with heart defects, and partner organizations. This collaborative approach not only amplifies the development of new therapies but also aims to transform the landscape of treatment options available to those with CHD. By partnering with local and national organizations, Receptions For Research effectively seeks to facilitate breakthroughs in medical research, ultimately ensuring that patients have the opportunity for a second chance at life.
This information is meant to be a general summary of Receptions For Research The Greg Olsen Foundation. 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 2023.
- Investment Income: $14,156
- Gross Receipts: $1,980,798
Assets and Liabilities:
- Total Assets: $536,599
- Total Liabilities: $621,445
- Net Assets: -$84,846
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Organization Details
Founding Year
2009
Principal Officer
Greg Olsen
NTEE Category
Code: H12 - Medical research
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