Finances

FAVER’s total revenue for calendar year 2024 amounted to $6,841,543 and total expenses were $5,799,920.

FAVER’s revenues stem mostly from project specific funding based on the high-quality research proposals submitted by the researchers in our research community.

This table summarizes the statement of functional expenses as submitted to the IRS on FAVER’s “Return of Organization Exempt from Income Tax Form 990.”

Statement of Functional Expenses Total Program Management
Compensation of Current Officers and Key Employees $146,288 $0 $146,288
Other Salaries and Wages 3,295,852 2,801,474 494,378
Pension Plans, Other Employee Benefits, and Payroll Taxes 511,750 292,409 219,341
Legal Fees 5,043 4,920 123
Accounting Fees 42,100 0 42,100
Other Fees 69,121 52,251 16,870
Office Expenses 12,186 1,836 10,350
Information Technology 20,669 13,627 7,042
Dues and Subscriptions 21,520 10,962 10,558
Travel 21,785 16,695 5,090
Conferences, Conventions, and Meetings 8,805 6,886 1,919
Depreciation 56,793 0 56,793
Insurance 37,971 14,112 23,859
Research Material Costs 92,667 83,327 9,340
Other Project Costs 122,191 122,191 0
Subawards 1,328,482 1,328,482 0
Other 6,697 5,987 710
Total $5,799,920 $4,755,159 $1,044,761

As of December 2024, FAVER had no fundraising expenses.

2024 IRS Form 990