Overview
What is The Termeer Foundation Inc?
The Termeer Foundation Inc, based in Marblehead, Massachusetts, is a nonprofit organization committed to tackling healthcare challenges. It operates the Henri Termeer Network, a community of experienced healthcare leaders, mentors, supporters, and fellows who collaborate to foster innovations and advance cures. The Foundation believes that many healthcare issues can be resolved through the mentoring, support, communication, and shared experiences provided within this network. The organization also seeks to integrate this network with various healthcare entities, such as academic institutions, nonprofits, and regulatory agencies, to stimulate innovation, eliminate barriers to progress, and ultimately advance cures. Established to continue the work of the late Henri Termeer, the Foundation provides a platform for biotechnology leaders to educate, mentor, and support aspiring entrepreneurs in the field, thereby creating opportunities for scientific advancements to address critical medical needs.
Official website here: www.termeerfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 74%)
The Termeer Foundation Inc has received a rating of two stars from Charity Navigator, indicating that it requires improvement. While the organization demonstrates strong governance with a fully independent board and a solid audit of financial statements, its program expense ratio is notably low at 52.60%, suggesting that only a little over half of its expenses are directed toward programs rather than administrative costs.
The foundation exhibits strengths in several areas, including a fully independent board and effective policies regarding conflict of interest and record retention. Additionally, it has no reported issues with material diversion of assets, which is a positive sign for transparency and accountability. The foundation's whistleblower policy, however, is missing, which could be viewed as a significant gap in its governance practices.
Overall, while The Termeer Foundation Inc shows promise with its financial management and independent oversight, the low program expense ratio and absence of a whistleblower policy highlight areas that require attention to improve its rating and overall efficacy in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Termeer Foundation Inc legitimate?
The Termeer Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Termeer Foundation Inc 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: $318,132
Professional Fundraising Fees: $79,246
Other Salaries and Wages: $472,920
For more financial information, click here
Official website here: www.termeerfoundation.org
What is the mission statement of The Termeer Foundation Inc?
The Termeer Foundation was established to carry forward the work of the late Henri Termeer. Its mission is to serve as a platform for biotechnology leaders who wish to volunteer and mentor aspiring entrepreneurs in the field of cutting-edge science and patient care. This aim is to foster opportunities for scientific advancements to address unmet and critical medical needs. The foundation's cornerstone, the Henri Termeer Network, comprises experienced mentors, industry supporters, and Termeer Fellows, often first-time CEOs and company founders. By pooling their collective expertise, the network aims to advance cures for various healthcare challenges. The Termeer Foundation also seeks to integrate the network with individuals and organizations across the healthcare ecosystem, such as academic institutions, non-profits, and regulatory agencies, to provide expert counsel, stimulate innovation, eliminate barriers to progress, and ultimately advance cures.
Official website here: www.termeerfoundation.org
What is the revenue of The Termeer Foundation Inc?
The Termeer Foundation Inc's revenue in 2023 was $521,229.
Official website here: www.termeerfoundation.org
Who are the executives of The Termeer Foundation Inc and what are their salaries?
The average compensation at The Termeer Foundation Inc during 2023 was $113,007. There are 7 employees and 50 volunteers at The Termeer Foundation Inc.
Here are 10 key members and their salaries:
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- Compensation: $148,055
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- Other: $27,282
- Compensation: $155,325
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- Other: $27,342
Official website here: www.termeerfoundation.org
Where can I find the form 990 for The Termeer Foundation Inc?
The Termeer Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.termeerfoundation.org
Learn more at the official website: www.termeerfoundation.org
Mission Statement of The Termeer Foundation Inc
The Termeer Foundation, named after the late Henri Termeer, has a mission to carry forward his legacy of fostering scientific and medical advancements to address critical and unmet medical needs. By establishing a forum for biotechnology leaders, the organization aims to mentor and educate aspiring entrepreneurs in cutting-edge science and patient care. This, in turn, will create opportunities for these individuals to develop careers that contribute to significant medical breakthroughs.
Building upon Henri Termeer's bold legacy, The Termeer Foundation seeks to identify and empower individuals who have the potential to bring life-changing treatments to patients. The cornerstone of the foundation's work is the Henri Termeer Network, an ever-expanding group of healthcare leaders who pool their collective experience to advance cures. This network includes highly experienced mentors, industry supporters, and Henri Termeer Fellows, often company founders and first-time CEOs.
The Termeer Foundation believes that many healthcare challenges can be overcome through the mentoring, support, communication, and shared experience provided through the network. The organization also strives to integrate the network with individuals and organizations across the healthcare ecosystem, such as academic institutions, non-profits, and regulatory agencies. By providing expert counsel, stimulating innovation, eliminating barriers to progress, and ultimately advancing cures, The Termeer Foundation plays a crucial role in driving scientific and medical advancements.
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Impact
July, 2024
The Termeer Foundation Inc's impact lies in its mission to build on the bold legacy of Henri Termeer by identifying and empowering individuals who can bring life-changing treatments to patients. Established to continue the work of Henri Termeer, the organization provides a forum for biotechnology leaders to volunteer and educate and mentor younger and aspiring biotechnology entrepreneurs. By giving them the tools needed to develop careers in cutting-edge science and patient care, The Termeer Foundation Inc creates opportunities for scientific advancements to address important unmet medical needs. Through the leadership and volunteerism of these mentors, the organization fosters scientific and medical collaboration, supports interdisciplinary research, and advances innovation in science and medicine. The cornerstone of The Termeer Foundation is the Henri Termeer Network, an ever-expanding group of emerging and established healthcare leaders who collaborate to advance cures. This network, which includes mentors, industry supporters, and Henri Termeer Fellows, provides mentoring, support, communication, and shared experience to overcome healthcare challenges. The foundation also integrates the network with individuals and organizations across the healthcare ecosystem to stimulate innovation, eliminate barriers to progress, and ultimately advance cures.
This information is meant to be a general summary of The Termeer Foundation Inc. 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: $45,863
- Gross Receipts: $1,735,353
Assets and Liabilities:
- Total Assets: $1,796,459
- Total Liabilities: $81,807
- Net Assets: $1,714,652
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Organization Details
Founding Year
2019
Principal Officer
Belinda Termeer
Website
www.termeerfoundation.orgNTEE Category
Code: H40 - Medical research
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