Finances

FAVER’s total revenue for calendar year 2020 amounted to $11,025,303 and total expenses were $10,395,333.

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

FY 2020 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 $137,063 $0 $137,063
Other Salaries and Wages 4,081,340 3,589,916 491,424
Pension Plans, Other Employee Benefits, and Payroll Taxes 769,494 661,087 108,407
Legal Fees 9,253 5,325 3,928
Accounting Fees 34,300 0 34,300
Other Fees 54,056 25,323 28,733
Office Expenses 65,343 61,272 4,071
Information Technology 43,834 38,722 5,112
Occupancy 0 0 0
Travel 46,339 44,378 1,961
Conferences, Conventions, and Meetings 88,109 85,881 2,228
Depreciation 54,270 0 54,270
Insurance 13,341 0 13,341
Research Material Costs 172,469 153,599 18,870
Other Project Costs 521,881 521,881 0
Subawards 4,287,909 4,287,909 0
Other 16,332 11,806 4,526
Total $10,395,333 $9,487,099 $908,234

As of December 2020, FAVER had no fundraising expenses.

2020 IRS Form 990