Finances

FAVER’s total revenue for calendar year 2019 amounted to $10,051,809 and total expenses were $9,620,282.

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

fy2019-funding-sources
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 $126,921 $0 $126,921
Other Salaries and Wages 4,041,406 3,526,606 514,800
Pension Plans, Other Employee Benefits, and Payroll Taxes 777,970 666,133 111,837
Legal Fees 6,923 5,978 945
Accounting Fees 40,700 0 40,700
Other Fees 73,239 27,905 45,334
Office Expenses 42,560 37,834 4,726
Information Technology 15,489 9,761 5,728
Occupancy 0 0 0
Travel 139,961 133,254 6,707
Conferences, Conventions, and Meetings 69,284 66,853 2,431
Depreciation 55,115 0 55,115
Insurance 33,577 0 33,577
Research Material Costs 123,906 106,246 17,660
Other Project Costs 695,750 695,750 0
Subawards 3,361,892 3,361,892 0
Other 15,589 8,984 6,605
Total $9,620,282 $8,647,196 $973,086

As of December 2019, FAVER had no fundraising expenses.

2019 IRS Form 990