Friends Of The Garvan Institute Of Medical Research
Friends Of The Garvan Institute operates with minimal assets and no executive compensation, consistently matching revenues to expenses.
EIN: 205756271 · Darien, CT · NTEE: H05 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $501K |
| Total Expenses | $595K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $500,000 |
| Net Assets | $819 |
| Transparency Score | 85/100 |
Is Friends Of The Garvan Institute Of Medical Research Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of The Garvan Institute Of Medical Research directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of The Garvan Institute Of Medical Research
Friends Of The Garvan Institute Of Medical Research (EIN: 205756271) is a nonprofit organization based in Darien, CT, classified under NTEE code H05. The organization reported total revenue of $501K and total assets of $6K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Garvan Institute Of Medical Research's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Garvan Institute Of Medical Research is a small nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $595K |
| Total Expenses | $595K |
| Surplus / Deficit | $-87 |
| Total Assets | $2K |
| Total Liabilities | $1K |
| Net Assets | $819 |
| Operating Margin | -0.0% |
| Debt-to-Asset Ratio | 60.4% |
| Months of Reserves | 0.0 months |
Financial Health Grade: D
In 2023, Friends Of The Garvan Institute Of Medical Research reported a deficit of $87 with expenses exceeding revenue, holds 0.0 months of operating reserves (limited), has a debt-to-asset ratio of 60.4% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Friends Of The Garvan Institute Of Medical Research's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -61.1% | -61.1% | -39.3% |
| 2022 | +144.7% | +146.4% | -4.8% |
| 2021 | +4.2% | +4.0% | -28.1% |
| 2020 | +20.0% | +19.2% | +100.5% |
| 2019 | -4.3% | -9.4% | +248100.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friends Of The Garvan Institute Of Medical Research with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Friends Of The Garvan Institute Of Medical Research allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $87, with expenses exceeding revenue.
- Debt-to-asset ratio: 60.4%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is unpaid, which is highly efficient for a nonprofit of its size with revenues ranging from $500,000 to over $1.5 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Friends Of The Garvan Institute Of Medical Research's IRS 990 filings:
- Consistently low asset base, indicating minimal financial reserves
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data, limiting precise efficiency analysis
Strengths
The following positive indicators were identified for Friends Of The Garvan Institute Of Medical Research:
- Zero reported officer compensation across all filings, indicating highly efficient use of donor funds for leadership
- Consistent filing of IRS Form 990s, demonstrating transparency
- Revenues consistently cover expenses, indicating operational stability
- Lean operational model with minimal overhead
Frequently Asked Questions about Friends Of The Garvan Institute Of Medical Research
Is Friends Of The Garvan Institute Of Medical Research a legitimate charity?
Friends Of The Garvan Institute Of Medical Research (EIN: 205756271) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $501K. 2 red flags identified. 4 strengths noted. Financial health grade: D.
How does Friends Of The Garvan Institute Of Medical Research spend its money?
Friends Of The Garvan Institute Of Medical Research directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Friends Of The Garvan Institute Of Medical Research tax-deductible?
Friends Of The Garvan Institute Of Medical Research is registered as a tax-exempt nonprofit (EIN: 205756271). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Friends Of The Garvan Institute Of Medical Research CEO make?
Friends Of The Garvan Institute Of Medical Research's highest-compensated officer earns $500,000 annually. The organization reported $501K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Friends Of The Garvan Institute Of Medical Research compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Friends Of The Garvan Institute Of Medical Research is above average for NTEE category H05 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of The Garvan Institute Of Medical Research located?
Friends Of The Garvan Institute Of Medical Research is headquartered in Darien, Connecticut and files with the IRS under EIN 205756271. It is classified under NTEE code H05.
How many years of IRS 990 filings does Friends Of The Garvan Institute Of Medical Research have?
Friends Of The Garvan Institute Of Medical Research has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $501K in total revenue.
Is Friends Of The Garvan Institute Of Medical Research a good charity?
Based on the provided data, the organization appears to be a good charity, primarily due to its consistent lack of executive compensation and its operational model that expends nearly all revenue annually, suggesting direct application of funds to its mission. However, without detailed expense breakdowns, the exact proportion of funds going directly to the Garvan Institute's programs versus administrative costs within Friends Of The Garvan Institute cannot be fully assessed.
What is the primary financial risk for this organization?
The primary financial risk is the consistently low asset base. With assets often below $5,000 (e.g., $2,069 in 2023, $3,406 in 2022), the organization has minimal reserves to weather unexpected declines in revenue or increases in expenses, making it highly reliant on consistent annual donations.
How does the organization manage its administrative costs?
While specific administrative cost percentages are not provided, the consistent reporting of 0% officer compensation strongly suggests very low administrative overhead, likely relying on volunteer efforts or minimal operational expenses to facilitate its mission.
Filing History
IRS 990 filing history for Friends Of The Garvan Institute Of Medical Research showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Friends Of The Garvan Institute Of Medical Research's revenue has grown by 161%, moving from $228K to $595K. Total assets decreased by 96.9% over the same period, from $66K to $2K. Total functional expenses rose by 232.5%, from $179K to $595K. In its most recent filing year (2023), Friends Of The Garvan Institute Of Medical Research reported a deficit of $87, with expenses exceeding revenue. The organization holds $1K in liabilities against $2K in assets (debt-to-asset ratio: 60.4%), resulting in net assets of $819.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $595K | $595K | $2K | $1K | — | — |
| 2022 | $1.5M | $1.5M | $3K | $3K | — | View 990 |
| 2021 | $625K | $621K | $4K | $1K | — | View 990 |
| 2020 | $600K | $598K | $5K | $6K | — | — |
| 2019 | $500K | $501K | $2K | $6K | — | View 990 |
| 2018 | $523K | $553K | $1 | $3K | — | View 990 |
| 2017 | $386K | $361K | $30K | $2K | — | View 990 |
| 2016 | $0 | $1K | $5K | $2K | — | View 990 |
| 2015 | $56K | $59K | $6K | $2K | — | View 990 |
| 2014 | $12K | $23K | $9K | $2K | — | View 990 |
| 2013 | $61K | $53K | $21K | $2K | — | View 990 |
| 2012 | $130K | $178K | $18K | $2K | — | — |
| 2011 | $130K | $178K | $18K | $2K | — | View 990 |
| 2010 | $228K | $179K | $66K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $595K, expenses of $595K, and assets of $2K (revenue -61.1% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.5M, and assets of $3K (revenue +144.7% year-over-year).
- 2021: Revenue of $625K, expenses of $621K, and assets of $4K (revenue +4.2% year-over-year).
- 2020: Revenue of $600K, expenses of $598K, and assets of $5K (revenue +20.0% year-over-year).
- 2019: Revenue of $500K, expenses of $501K, and assets of $2K (revenue -4.3% year-over-year).
- 2018: Revenue of $523K, expenses of $553K, and assets of $1 (revenue +35.4% year-over-year).
- 2017: Revenue of $386K, expenses of $361K, and assets of $30K.
- 2016: Revenue of $0, expenses of $1K, and assets of $5K (revenue -100.0% year-over-year).
- 2015: Revenue of $56K, expenses of $59K, and assets of $6K (revenue +387.0% year-over-year).
- 2014: Revenue of $12K, expenses of $23K, and assets of $9K (revenue -81.1% year-over-year).
- 2013: Revenue of $61K, expenses of $53K, and assets of $21K (revenue -53.2% year-over-year).
- 2012: Revenue of $130K, expenses of $178K, and assets of $18K (revenue +0.0% year-over-year).
- 2011: Revenue of $130K, expenses of $178K, and assets of $18K (revenue -43.0% year-over-year).
- 2010: Revenue of $228K, expenses of $179K, and assets of $66K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Garvan Institute Of Medical Research:
Data Sources and Methodology
This transparency report for Friends Of The Garvan Institute Of Medical Research is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.