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Fogarty Institute For Innovation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Medical Research / Biomedicine, Bioengineering Research (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$12.6M (2022)

Expenses
$7.15M (2022)

Total Assets
$26.9M (2022)

Total Liabilities
$12.2M (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,603,959
Expenses
$7,150,758
Net Income
$5,453,201
Net Assets
$14,744,442
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,354,048
82.1%
Program Services $1,571,138
12.5%
Investment Income $35,479
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $9,528
0.1%
Net Inventory Sales $0
Other Revenue $633,766
5.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $3,803,793
53.2%
Assets/Debt
Total Assets $26,940,908
Total Liabilities $12,196,466
Net Assets $14,744,442
Compensation
Key Employees and Officers Compensation Related Other
Marga Ortigas Wedekind (Chief Strategy Officer) $319,207 $0 $48,826
Michael Regan (Chief Operating Officer) $317,475 $0 $36,875
Gayle Kuokka (Cfo) $302,589 $0 $55,997
Andrew Cleeland (Ceo) $299,526 $0 $36,891
Denise Zarins (Chief Operating Officer) $296,429 $0 $42,370
John Morris (Director, Iap) $274,752 $0 $28,413
Bernie Andreas (Engineer In Residence) $254,765 $0 $68,254
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Thomas M Krummel Md (Chairman) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Director) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0
Angela Macfarlane (Director) $0 $0 $0
Mark Leahey (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,362,432
Expenses
$6,010,426
Net Income
-$2,647,994
Net Assets
$9,389,726
Notable Sources of Revenue Percent of Total Revenue
Contributions $249,855
7.4%
Program Services $734,673
21.8%
Investment Income $5,258
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,926,930
57.3%
Net Inventory Sales $0
Other Revenue $445,716
13.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $2,902,783
48.3%
Assets/Debt
Total Assets $12,713,454
Total Liabilities $3,323,728
Net Assets $9,389,726
Compensation
Key Employees and Officers Compensation Related Other
Mike Regan (Former Officer) $304,383 $0 $22,295
Marga Ortigas Wedekind (Former Officer) $302,691 $0 $59,449
Andrew Cleeland (Ceo) $296,062 $0 $35,422
Gayle Kuokka (Chief Financial Officer) $286,151 $0 $61,438
Denise Zarins (Former Officer) $283,268 $0 $32,761
Greg Bakan (Former Officer) $129,240 $0 $40,820
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Thomas M Krummel Md (Chairman) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Director) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0
Angela Macfarlane (Director) $0 $0 $0
Mark Leahy (Director) $0 $0 $0
Sheri Devinney (Assistant) $0 $0 $0
Charles Samba (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,818,703
Expenses
$4,573,097
Net Income
$6,245,606
Net Assets
$11,723,333
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,156,105
93.9%
Program Services $521,667
4.8%
Investment Income $1,682
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $139,249
1.3%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $2,323,109
50.8%
Assets/Debt
Total Assets $14,113,011
Total Liabilities $2,389,678
Net Assets $11,723,333
Compensation
Key Employees and Officers Compensation Related Other
Mike Regan (Chief Innovation Officer) $304,555 $0 $34,754
Marga Ortigas Wedekind (Chief Commercial Strategy Officer) $302,722 $0 $56,870
Andrew Cleeland (Director & Ceo) $295,749 $0 $34,157
Gayle Kuokka (Chief Financial Officer) $286,311 $0 $59,441
Denise Zarins (Chief Technical Officer) $283,306 $0 $38,174
Greg Bakan (Chief Operating Officer) $95,083 $0 $34,277
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Thomas M Krummel Md (Chairman) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Secretary) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0
Angela Macfarlane (Director) $0 $0 $0
Mark Leahy (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$649,742
Expenses
$3,406,139
Net Income
-$2,756,397
Net Assets
$5,740,363
Notable Sources of Revenue Percent of Total Revenue
Contributions $89,863
13.8%
Program Services $419,500
64.6%
Investment Income $57,193
8.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $83,186
12.8%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,885,805
55.4%
Assets/Debt
Total Assets $5,929,392
Total Liabilities $189,029
Net Assets $5,740,363
Compensation
Key Employees and Officers Compensation Related Other
Mike Regan (Chief Innovation Officer) $299,408 $0 $34,864
Andrew Cleeland (Director & Ceo) $296,054 $0 $37,251
Gayle Kuokka (Chief Financial Officer) $281,451 $0 $66,493
Denise Zarins (Chief Technical Officer) $276,037 $0 $39,473
Greg Bakan (Chief Operating Officer) $92,075 $0 $44,062
Marga Ortigas Wedekind (Chief Commerical Strategy Officer) $25,605 $0 $0
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Thomas M Krummel Md (Chairman) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Secretary) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0
Angela Macfarlane (Director) $0 $0 $0
Mark Leahy (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,986,981
Expenses
$2,582,375
Net Income
-$595,394
Net Assets
$9,026,265
Notable Sources of Revenue Percent of Total Revenue
Contributions $804,330
40.5%
Program Services $582,673
29.3%
Investment Income $45,463
2.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$81,346
Sales of Assets $635,861
32.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,452,382
56.2%
Assets/Debt
Total Assets $9,262,396
Total Liabilities $236,131
Net Assets $9,026,265
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Andrew Cleeland (Director & Ceo) $363,106 $0 $28,140
Denise Zarins (Chief Technical Officer) $268,005 $0 $24,855
Mike Regan (Chief Innovation Officer) $255,007 $0 $26,260
Greg Bakan (Chief Operating Officer) $186,897 $0 $36,859
Starr Mcnamara (Chief Financial Officer) $170,920 $0 $16,423
Gayle Kuokka (Chief Financial Officer) $100,683 $0 $13,674
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Thomas M Krummel Md (Chairman) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Secretary) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0
Angela Macfarlane (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,980,655
Expenses
$2,470,100
Net Income
-$489,445
Net Assets
$9,975,539
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,473,211
74.4%
Program Services $502,292
25.4%
Investment Income $26,002
1.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$20,850
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,297,936
52.5%
Assets/Debt
Total Assets $10,477,212
Total Liabilities $501,673
Net Assets $9,975,539
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Andrew Cleeland (Director & Ceo) $306,731 $0 $0
Starr Mcnamara (Chief Financial Officer) $218,811 $0 $13,842
Kermit Pope (Executive Director Mentoring) $214,765 $0 $43,797
Denise Zarins (Chief Technology Officer) $199,938 $0 $17,112
Greg Bakan (Chief Operating Officer) $89,499 $0 $19,856
Michael C Needels Phd (Chief Operating Officer) $57,228 $0 $4,597
Thomas M Krummel Md (Chairman) $9,375 $0 $0
Thomas Fogarty Md (Founder/Director) $0 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
J Casey Mcglynn Jd (Secretary) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Stacy Enxing Seng (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,937,735
Expenses
$2,762,850
Net Income
$174,885
Net Assets
$8,053,111
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,188,766
74.5%
Program Services $763,950
26.0%
Investment Income $7,641
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$22,622
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $1,185,806
42.9%
Professional Fundraising Fees $0
Other Salaries and Wages $161,672
5.9%
Assets/Debt
Total Assets $8,578,033
Total Liabilities $524,922
Net Assets $8,053,111
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Ann Fyfe (Chief Executive Officer (1/1/16 4/29/16)) $490,109 $0 $46,566
Kermit Pope (Executive Director, Mentor) $257,450 $0 $43,017
Michael C Needels Phd (Chief Operating Officer) $256,240 $0 $47,827
Starr Mcnamara (Chief Financial Officer) $179,299 $0 $21,283
Rita Wedell (Executive Administrator) $113,517 $0 $22,768
Thomas M Krummel Md (Chairman) $68,750 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
Lewis Wexler Md (Secretary) $0 $0 $0
J Casey Mcglynn Jd (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0
Andrew Cleeland (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,061,420
Expenses
$3,375,733
Net Income
-$314,313
Net Assets
$7,639,054
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,150,170
70.2%
Program Services $918,634
30.0%
Investment Income $6,144
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$13,778
Sales of Assets $250
0.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $1,297,320
38.4%
Professional Fundraising Fees $0
Other Salaries and Wages $164,707
4.9%
Assets/Debt
Total Assets $8,350,031
Total Liabilities $710,977
Net Assets $7,639,054
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Ann Fyfe (Ceo) $355,248 $0 $50,501
Kermit Pope (Executive Director, Mentoring) $271,696 $0 $39,214
Michael C Needels Phd (Chief Operating Officer) $266,684 $0 $42,204
Peter Hero (Chief Development Officer) $187,499 $0 $102
Starr Mcnamara (Chief Financial Officer) $185,538 $0 $19,495
Rita Wedell (Executive Administrator) $119,077 $0 $20,850
Thomas M Krummel Md (Chairman) $87,500 $0 $0
Frederick St Goar Md (Vice Chairman) $0 $0 $0
Lewis Wexler Md (Secretary) $0 $0 $0
J Casey Mcglynn Jd (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,451,698
Expenses
$3,797,335
Net Income
$1,654,363
Net Assets
$7,786,344
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,520,870
82.9%
Program Services $1,235,457
22.7%
Investment Income $4,511
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$309,140
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,331,161
35.1%
Assets/Debt
Total Assets $8,790,328
Total Liabilities $1,003,984
Net Assets $7,786,344
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Ann Fyfe (Ceo) $354,944 $0 $50,471
Michael Needels Ph D (Coo) $262,484 $0 $45,761
Kermit Pope Jr (Exec Dir, Mentoring) $242,319 $0 $20,906
Betty De Bettencourt (Exec Director, Clinical Research) $176,196 $0 $16,940
Starr Mc Namara (Bus & Fin Dir) $163,899 $0 $22,966
Deborah Gairaud (Dir Hr) $138,410 $0 $34,637
Rita Wedell (Exec Asst) $109,024 $0 $35,646
Thomas M Krummel Md (Director) $0 $0 $0
Thomas Fogarty Md (Director) $0 $0 $0
John Goodrich Jd (Secretary) $0 $0 $0
Frederick St Goar Md (Director) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
J Casey Mc Glynn Md (Director) $0 $0 $0
William R Brody Md (Director) $0 $0 $0
Allan R Will (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,840,000
Expenses
$2,730,547
Net Income
$1,109,453
Net Assets
$6,444,450
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,090,791
80.5%
Program Services $558,493
14.5%
Investment Income $73,132
1.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $117,584
3.1%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $451,072
16.5%
Professional Fundraising Fees $0
Other Salaries and Wages $442,902
16.2%
Assets/Debt
Total Assets $7,383,465
Total Liabilities $939,015
Net Assets $6,444,450
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Ann Fyfe (Ceo) $352,466 $0 $98,606
Mike Needels (Chief Operating Officer) $243,121 $0 $60,404
Betty De Bettencourt (Exec Director, Clinical Research) $168,391 $0 $17,939
Deborah Gairaud (Dir Hr) $132,910 $0 $29,190
Starr Mc Namara (Dir Bus & Fin) $130,865 $0 $32,328
Tracy T Lefteroff (Director) $0 $0 $0
Thomas Fogarty Md (Director) $0 $0 $0
John Goodrich (Secretary) $0 $0 $0
Frederick St Goar Md (Director) $0 $0 $0
Lewis Wexler Md (Director) $0 $0 $0
J Casey Mc Glynn Md (Director) $0 $0 $0
William R Brody Md (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,931,950
Expenses
$2,005,277
Net Income
$2,926,673
Net Assets
$6,486,193
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,593,930
93.1%
Program Services $370,000
7.5%
Investment Income $50,127
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$82,107
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $748,957
37.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $7,366,018
Total Liabilities $879,825
Net Assets $6,486,193

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,630,386
Expenses
$1,454,651
Net Income
$1,175,735
Net Assets
$4,843,716
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,396,220
91.1%
Program Services $211,457
8.0%
Investment Income $3,569
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $19,140
0.7%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $282,717
19.4%
Professional Fundraising Fees $37,500
2.6%
Other Salaries and Wages $721,148
49.6%
Assets/Debt
Total Assets $5,691,965
Total Liabilities $848,249
Net Assets $4,843,716

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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