Diseases & Disorders (G50) IRS Verified DX Registered 990 on File

THE MULTIPLE MYELOMA RESEARCH FOUNDATION INC

EIN: 06-1504413 · NORWALK, CT 06851-1544 · United States · FY 2025 Data

3 out of 5 59 / 100 Based on 2+ years of filings

Financial strength (30%) 94/100

Reliability (20%) 70/100

Effectiveness (25%) 88/100

Impact (25%) No data yet

Financial data: FY 2025 · Scored 10/18/2026

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CharityAI™ Score

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Mission Statement

The mission of the Multiple Myeloma Research Foundation (MMRF) is to find a cure for multiple myeloma by relentlessly pursuing innovation that accelerates the development of next-generation treatments to extend the lives of patients. Founded in 1998 by Kathy Giusti, a multiple myeloma patient, and her twin sister Karen Andrews as a 501(c) (3) nonprofit organization, the MMRF is a world-recognized leader in cancer research. Together with its partners, the MMRF has created the only end-to-end solution in precision medicine and the single largest genomic dataset in all cancers. The MMRF continues to disrupt the industry today, as a pioneer and leader at the helm of new research efforts. Since its inception, the organization has raised over $400 million and directs nearly 90% of the total funds to research and related programs.

Financial Overview — FY 2025

$36.5M

Total Revenue

$34.7M

Total Expenses

$48.0M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 78.9%

Fundraising Efficiency N/A

Operating Reserve 16.63x

Liability-to-Asset 23.6%

Revenue Diversification 72.9%

Executive Compensation $3.2M

Compared with Peers

FY 2025

Compared with 105 similar organizations (United States, Diseases & Disorders, $10M–$100M in expenses), FY 2025.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	78.9%	85.4%	P10P90	Below median
Admin expense ratio Management and general / total expenses · lower is better	3.4%	11.1%	P10P90	Top quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	17.6%	1.0%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	16.6 mo	10.0 mo	P10P90	Above median
Liabilities to assets Total liabilities / total assets · lower is better	23.6%	23.0%	P10P90	Below median
Revenue concentration Share of revenue from the largest source · lower is better	72.9%	92.0%	P10P90	Top quarter
Revenue growth Year over year revenue growth	25.5%	7.9%	P10P90
Expense growth Year over year expense growth	-2.7%	7.8%	P10P90
Surplus margin Surplus as a share of revenue	5.1%	3.2%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2025	$36.5M	$34.7M	$48.0M	78.9%	80
2024	$29.1M	$35.6M	$50.0M	81.5%	72
2023	$34.0M	$41.9M	$56.3M	83.5%	78
2022	$45.0M	$38.3M	$63.7M	84.2%	80
2021	$42.3M	$37.6M	N/A	—	74

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Organization Details

EIN: 06-1504413
State: CT
City: NORWALK
ZIP: 06851-1544
Classification: G50
Category: Diseases & Disorders
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year
Foundation Code: 15
Form 990: On File

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Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

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