Michael J. Fox Foundation

800-365 Bay Street
Toronto, ON M5H 2V1
CEO: Todd Sherer
Board Chair: Jeff Keefer

Website: www.michaeljfox.org
Charitable Reg. #: 83230 9892 RR0001
Sector: Health
Operating Charity

Social Results Reporting

Grade: C+

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #0

Avg. Compensation $0

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Michael J. Fox Foundation:

Established in 2009, the Michael J. Fox Foundation for Parkinson's Research Canada (MJFF) funds research that looks for improved treatments and a possible cure for Parkinson's disease. The Michael J. Fox Foundation for Parkinson's Research USA controls MJFF operations and distributes research grants on MJFF's behalf. The foundations share a common website and report on their granting activities, grantee outputs and grantee outcomes collectively. Ci could not determine where MJFF directs Canadian donations with respect to the research successes and funded researchers reported on the main MJFF website.

The Michael J. Fox Foundation for Parkinson's Research's leadership team consists of businesspeople and PhD neuroscientists. By combining science with business, the Foundation believes that its granting activities will lead to a cure for Parkinson's disease as quickly as possible.

The drug development process follows three major stages: basic research, translational research, and clinical research. In basic research, researchers look at underlying biological processes and their importance in cells at the test tube level. Translational research looks at the discoveries from basic research in the context of diseases such as Parkinson's. This leads to new drug ideas that then enter clinical research. At this stage, researchers test potential drugs on humans. Most drug ideas fail in the translational to clinical transition, which is where MJFF comes into play. Most of MJFF's funding focuses on translational and clinical research. By supporting the stages where drug development traditionally stops, MJFF believes that its strategic investments are speeding up the timeline for discovering a cure.

The Michael J. Fox Foundation for Parkinson's Research website outlines four research priorities: Altering Disease, Defining PD, Untreated Symptoms and Tools. Altering disease is the Foundation's top priority and focuses on developing a drug that restores damaged nerve cells in Parkinson's patients. Defining PD research focuses on finding biomarkers that will allow researchers to predict the risk and progression of Parkinson's disease in people, and evaluate whether current treatments are working in Parkinson's patients. Untreated Symptoms research addresses currently untreated symptoms of Parkinson's disease and the side effects of current drugs. With the Tools priority area, MJFF creates and distributes research tools to researchers so that they can focus on actually curing Parkinson's disease.

Financial Review:

Michael J. Fox Foundation is a medium-sized charity with total donations of $3.4m in F2015, $2.1m of which was received from The Michael J. Fox Foundation USA. Administrative costs are 1% of donations. MJFF does not report any fundraising costs in its audited financial statements or T3010 CRA filings.

MJFF holds $1.7m in funding reserves, which consists only of cash. Funding reserves can cover only 73% of annual granting activities, indicating a funding need.

MJFF reports no compensation information in its most recent F2014 T3010 CRA filing. The charity's F2015 T3010 was not available when this report was created.

This charity report is an update that is currently being reviewed by Michael J. Fox Foundation. Changes and edits may be forthcoming.

Updated on July 18, 2016 by Katie Khodawandi.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 0.5%0.8%1.0%
Fundraising costs as % of donations 0.0%0.0%0.0%
Program cost coverage (%) 73.3%49.6%27.9%

Summary Financial Statements

All figures in $s
201520142013
Donations 3,438,1001,572,9261,293,532
Other income 6617211,502
Total revenues 3,438,7611,573,6471,295,034
Grants 2,278,0371,248,1801,143,389
Administrative costs 17,77612,76312,732
Fundraising costs 000
Cash flow from operations 1,142,948312,704138,913
Funding reserves 1,669,847618,849318,734
Note: Ci adjusted for changes in amounts due to and from The Michael J. Fox Foundation (USA), increasing donations by $2.1m in F2015 and $364k in F2014, and increasing grant expenses by $700k in F2013. Ci adjusted for changes in grants payable, affecting grants by $978k in F2015, $51k in F2014 and ($839k) in F2013. The charity’s T3010 CRA filing does not report any compensation information for F2014 or F2013.

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