2024-12-16T07:24:07-06:00 2024-01-31 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2023-02-01 264510094 TargetCancer Foundation Inc TARG 6177654881 955 Massachusetts Avenue 343 Cambridge MA 02139 James Palma Chief Executive Officer 6177654881 2024-12-13 1 0 Nicholas E Porto P01310283 2078792100 2024-12-13 2023 2024-10-15 13:58:12Z James Palma 955 Massachusetts Avenue 343 Cambridge MA 02139 676451 0 X www.targetcancer.org X 2009 MA Support for research into the causes and treatments of rare cancers. 11 9 4 30 0 0 841881 674113 0 0 1819 2338 2406 0 846106 676451 100000 25000 0 0 293392 334776 0 0 110314 311261 437898 704653 797674 141453 -121223 645131 523908 0 0 645131 523908 X TargetCancer Foundation promotes the development of lifesaving treatment protocols for rare cancers. TargetCancer Foundation directly supports initiatives at the forefront of cancer treatment by funding innovative research, fostering collaborations, and raising awareness among scientists, clinicians, and patients. 0 0 517495 25000 0 The specific purposes of the Organization are to raise awareness of and support for research into rare cancers, and to directly support patients and families facing rare cancers. This was accomplished in the fiscal year through the ongoing operation of a rare cancer precision medicine clinical trial, and through other programs. In 2020, TargetCancer Foundation launched a rare cancer precision medicine clinical trial called TCF-001 TRACK (Target Rare Cancer Knowledge). TRACK is a 400-patient clinical trial studying genomics and precision medicine in rare cancers, providing patients with critical personalized genomic data about their cancer and treatment recommendations from a panel of field leaders, and also generating rare cancer research data. TRACK is developed, sponsored and managed by TargetCancer Foundation, and is currently over halfway through its enrollment of patients with rare cancers and cancer of unknown primary.In 2023, TargetCancer Foundation held a major scientific meeting- the Think Tank on Advancing Precision Medicine in Rare Cancers. This unique, innovative meeting unites key stakeholders including clinicians, researchers, government, industry, and patients and advocates. This meeting is specifically designed to promote collaboration, information-sharing and idea generation in an effort to define research priorities, foster new collaborative efforts across institutions, and ultimately propel the field forward. 517495 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X James Palma 6177654881 955 Massachusetts Avenue 343 Cambridge MA 02139 Jerry Alderman Director 1.00 X 0 0 0 Jennifer Levin Carter MD Director 1.00 X 0 0 0 CJ Chapman Director 1.00 X 0 0 0 Samuel Davenport Director 1.00 X 0 0 0 Janet Fine MS Director 1.00 X 0 0 0 Mary Pat Lancelotta Director 1.00 X 0 0 0 Kristen Schuler Scammon Director 1.00 X 0 0 0 Andrea Sullivan Director 1.00 X 0 0 0 Kristen Palma President/Director 40.00 X X 39931 0 13946 Colin Carey Treasurer/Director 1.00 X X 0 0 0 James M Palma Chief Executive Officer 50.00 X X 163594 0 1396 203525 0 15342 1 0 1 0 0 674113 674113 2338 2338 676451 0 0 2338 X 25000 25000 221934 133160 55484 33290 88928 42595 20765 25568 1517 910 380 227 22397 13438 5599 3360 12449 12449 269626 167599 65921 36106 1683 1037 323 323 11536 5574 1733 4229 8181 5043 1569 1569 22345 13773 4286 4286 2820 1738 541 541 66788 66788 4250 2620 815 815 Accrual to Cash 38220 38220 797674 517495 169865 110314 85264 65499 559867 450174 8235 645131 523908 0 0 X 645131 523908 645131 523908 645131 523908 -121223 0 X X 0 1 X 1 0 X 657046 522520 510048 841881 674113 3205608 657046 522520 510048 841881 674113 3205608 694791 2510817 488 467 463 1819 2338 5575 23374 23374 3234557 33000 0.77620 0.81920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 746710 70259 70259 676451 0 676451 760004 550 550 759454 38220 38220 797674 Part X, Line 2: The Foundation is qualified under the provisions of Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes. Accordingly, there is no provision for income taxes within the financial statements. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Foundation has evaluated the position taken on its filed tax returns. It has not taken, nor does it expect to take any uncertain tax positions in any income tax return. Part XI, Line 2d - Other Adjustments: Accrual to Cash 69,709. Travel Reimbursements 550. Part XII, Line 2d - Other Adjustments: Fundraising Event Expenses Travel Reimbursements 550. Part XII, Line 4b - Other Adjustments: Accrual to Cash 38,220. 1 Massachusetts General Hospital 55 Fruit Street Boston MA 02114 041564655 501(c)(3) 25000 0 Cancer Center 1 Part I, Line 2: The Foundation awards organizational grants only to 501(c)(3) public charities conducting cancer research. X X X 0 0 0 0 0 0 0 1 0 James M Palma Chief Executive Officer 132344 0 31250 0 0 0 1396 0 0 0 164990 0 0 0 Part I, Line 7 From time-to-time the Foundation pays performance-based compensation, which is variable and subject to review by independent individuals consistent with the Foundation's compensation oversight policies. Form 990, Part VI, Section A, line 2 Kristen Palma, President/Director, and James Palma, Chief Executive Officer, have a family relationship. Form 990, Part VI, Section B, line 11b The original annual Form 990 (along with a copy for them to retain for their records), as prepared by an independent public accounting firm, is submitted to the President, Kristen Palma, for her review and signature prior to filing with the IRS. At that same time, a copy of Form 990 is also provided to the Chief Executive Officer, James Palma, for his review so any comments, questions, or concerns he may have can be raised before the original signed form is filed. Form 990, Part VI, Section B, line 12c In accordance with Articles VI and VII of the Organization's bylaws, annual statements and periodic reviews are conducted to ensure compliance with the conflict of interest policy. Form 990, Part VI, Section B, line 15a Independent members of the board of directors review and approve the annual salary of the Executive Director and all other employees of the organization based on comparable salaries of similarly situated persons performing similar duties of similar size non-profit organizations. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part IX, line 11g Consultancy: Program service expenses 167,599. Management and general expenses 65,921. Fundraising expenses 36,106. Total expenses 269,626. Form 990, Part XII, Line 2c: The Organization's board of directors is charged with oversight of the audit process.