Financial Information

 
The MRF hired a CPA firm to conduct an independent audit of our 2004, 2005 and 2006 books and records. The audit was initiated by the Executive Director and agreed to by the MRF Directors. The auditors issued an unqualified opinion as a result of this audit. An unqualified opinion, which is also referred to as a clean opinion, is issued by an auditor when the financial statements presented are free of material misstatements and show a true and fair view of the operating results, financial position and cash flows, in accordance with Generally Accepted Accounting Principles.   Copies of the audited financial statements are attached below.
 

Summary of Income and Expenses
 
The Morgellons Research Foundation is operated by an all-volunteer, unpaid Board of Directors and officers.  We devote as much funding as we can to promote our goals of raising awareness of the disease and supporting scientific research.
 
Initially, the primary goal of the MRF was to raise public awareness of Morgellons disease.  We needed to take critical steps to inform the medical and scientific communities, as well as the general public, about the disease.  Therefore our expenditures in 2004 through 2006 were centered on activities which would promote this goal. With the help of numerous people with this illness who were willing to speak honestly about their situation, as well as numerous supportive clinicians, scientists, and media groups starting with KTVU, this disease was taken from complete obscurity to the point where it is now being looked at by multiple groups of scientists as well as U.S. public health agencies. 
 
In 2006 and 2007, our primary focus began shifting to raising money to fund researchers.  As a result of the increased awareness of the disease, in 2006 the foundation began to be contacted by a number of researchers who were interested in trying to understand this devastating illness.  The MRF has provided start up funding to several research groups, to date.  We have also incurred expenses related to mailing specimens to these researchers.  Unfortunately, research is very expensive and we have been unable to fully fund any of these researchers. 
  
After receiving formal funding requests from five groups of scientists, the MRF is concentrating on fundraising to fulfill these requests.  We are currently attempting to raise $250,000 to help support the proposed work of these dedicated researchers.
 
The ultimate goal of the MRF is a cure for Morgellons disease.
 

 
 

 

2004

2005

2006

Contributions

$326

$11,940

$29,649

 

 

 

 

Expenses:

 

 

 

Research

 

 

   9,305

Public Awareness

 

   3,264

   8,928

Public Support

 

 

      100

Administrative

     8

      580

    2,450

Total Expenses

     8

   3,844

  20,783

 

 

 

 

Net Revenue

  318

   8,096

    8,866

Savings from prior period

      0

      318

    8,414

Cash at end of year

$318

 $8,414

$17,280