Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
A For the 2014 calendar year, or tax year beginning 01-01-2014 , and ending 12-31-2014
BCheck if applicable:
CName of organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
6931 ARLINGTON ROAD
Suite 200
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BETHESDA, MD20814
D Employer identification number

91-2059167
E Telephone number

G Gross receipts $ 3,274,880,997
F Name and address of principal officer:
ROBERT J BEALL PHD
6931 ARLINGTON ROAD STE 200
BETHESDA,MD20814
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.CFF.ORG/RESEARCH/CFFT/
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 2000
M State of legal domicile: MD
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: THE MISSION IS TO CURE CYSTIC FIBROSIS AND TO PROVIDE ALL PEOPLE WITH THE DISEASE THE OPPORTUNITY TO LEAD FULL, PRODUCTIVE LIVES.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 6
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 5
5 Total number of individuals employed in calendar year 2014 (Part V, line 2a) ...... 5 29
6 Total number of volunteers (estimate if necessary) ............. 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 0
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 223,471 3,274,846,429
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 0 25,502
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 257,190,808 9,066
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 257,414,279 3,274,880,997
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 210,196,981 3,231,024,082
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 4,951,732 6,801,253
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 42,265,566 37,055,662
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 257,414,279 3,274,880,997
19 Revenue less expenses. Subtract line 18 from line 12.......   0
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 55,984,395 63,052,423
21 Total liabilities (Part X, line 26)............. 55,984,395 63,052,423
22 Net assets or fund balances. Subtract line 21 from line 20..... 0 0
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet
Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2014)
Form 990 (2014)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: The mission of the Cystic Fibrosis Foundation Therapeutics is to cure cystic fibrosis and to provide all people with the disease the opportunity to lead full, productive lives by funding research and drug development and promoting individualized treatment. A life-shortening genetic disease, CF affects the lungs and digestive systems of nearly 30,000 children and young adults in the U.S. Currently, there is no cure.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ......................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 39,866,688 including grants of $ 0 ) (Revenue $ 3,274,431,963 )
Investments by Cystic Fibrosis Foundation Therapeutics (CFFT) in state-of-the-art research have accelerated progress toward developing new CF treatments and finding a cure for the disease. By funding CF drug discovery and development research conducted by biotechnology companies and providing matching awards to CF drug developers for CF research, and with a specialized CF clinical trials network, CFFT has attracted significant industry involvement in the fight against CF. CFFT accomplishes its mission by funding life-saving research to develop effective therapies for people with CF. CFFT has funded hundreds of millions of dollars of research costs to help develop CF drugs and therapies. Through CFFT's efforts, the life expectancy of people with CF has doubled in the last 30 years, and research to find a cure is more promising than ever before.
4b (Code:   ) (Expenses $ 3,234,094,781 including grants of $ 50,652,025 ) (Revenue $ 414,466 )
CFFT supports a national clinical research network of nearly 80 Foundation-accredited care centers that collaborate to conduct clinical trials, allowing potential new CF therapies to move to larger, late-stage studies more quickly. Medical programs in 2014 consisted of costs to support scientific study and investigations. 205 grants were awarded in 2014.
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet3,273,961,469
Form 990 (2014)
Form 990 (2014)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment........................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II........
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part III............................
5
 
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part VClick to see attachment......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
 
No
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment.........................
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment.................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E....
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?.....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions) ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2014)
Form 990 (2014)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I...................
25b
 
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If "Yes," complete Schedule L, Part II................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III.........
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV ..........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV.....................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV...
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M.............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........ Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2...
35b
 
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
89
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
29
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
 
No
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
 
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?.........................
8
 
 
9a
Did the sponsoring organization make any taxable distributions under section 4966?...
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
Form 990 (2014)
Form 990 (2014)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI ..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year .....................
1a
6
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
5
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
MI
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletTHE ORGANIZATION
6931 ARLINGTON ROAD STE 200
BETHESDA,MD20814 (301) 951-4422
Form 990 (2014)
Form 990 (2014)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII ..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) JASON M ARYEH........................................................................
DIRECTOR
 3.0
.......................   		X           0 0 0
(2) JONATHAN COHN MD........................................................................
DIRECTOR
 3.0
.......................   		X           0 0 0
(3) CATHRINE C MCLOUD........................................................................
DIRECTOR
 3.0
.......................11.0 		X           0 0 0
(4) D PAUL FLESSNER........................................................................
DIRECTOR
 3.0
.......................   		X           0 0 0
(5) STEVEN SHAK MD........................................................................
DIRECTOR
 3.0
.......................6.0 		X           0 0 0
(6) ROBERT J BEALL PHD........................................................................
PRESIDENT AND CEO
 20.0
.......................40.0 		X   X       323,554 650,137 224,033
(7) PRESTON W CAMPBELL MD........................................................................
EXEC VP OF MEDICAL AFFAIRS
 20.0
.......................40.0 		    X       213,925 432,875 174,822
(8) C RICHARD MATTINGLY........................................................................
EXEC VP AND COO
 5.0
.......................55.0 		    X       0 645,755 189,266
(9) VERA H TWIGG........................................................................
EXEC VP & CFO
 5.0
.......................55.0 		    X       0 461,903 85,449
(10) BRUCE MARSHALL MD........................................................................
SR. VP OF CLINICAL AFFAIRS
 50.0
.......................   		        X   407,821 0 32,120
(11) MARTIN MENSE PHD........................................................................
PRINCIPAL SCIENTIST DRUG DISC
 50.0
.......................   		        X   209,016 0 46,258
(12) THEODORE TORPHY PHD........................................................................
HEAD OF RESEARCH STRATEGY
 16.0
.......................   		        X   228,800 0 0
(13) HERMANN BIHLER PHD........................................................................
SENIOR SCIENTIST
 50.0
.......................   		        X   151,229 0 13,417
(14) FENG LIANG PHD........................................................................
SENIOR SCIENTIST
 50.0
.......................   		        X   137,177 0 37,936






Form 990 (2014)
Form 990 (2014)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;


























1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 1,671,522 2,190,670 803,301
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet16
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
MORGAN STANLEY CO LLC,
1 PIERREPONT PLAZA 7TH FL
BROOKLYN,NY11201 		TRANSACTION ADVISORY 24,773,304
PFIZER INC,
200 CAMBRIDGEPARK DR
CAMBRIDGE,MA02140 		contracted research 17,637,626
GENZYME CORPORATION,
FIVE THE MOUNTAIN RD
FRAMINGHAM,MA01701 		CONTRACTED RESEARCH 5,250,029
PARION SCIENCES INC,
2525 MERIDIAN PARKWAY SUITE 260
DURHAM,SC27713 		CONTRACTED RESEARCH 4,703,246
VERTEX PHARMACEUTICALS LLC,
50 NORTHERN AVENUE
BOSTON,MA02210 		CONTRACTED RESEARCH 3,928,582
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet20
Form 990 (2014)
Form 990 (2014)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines
1a-1f:$ 		 
h Total. Add lines 1a-1f.......MediumBullet 0
Program Service RevenueAmt Business Code
2a CLINICAL STUDY 541900 136,293 136,293    
b REFUNDED OR CANCELLED GRANTS 900099 278,173 278,173    
c PROCEEDS OF SALE OF INTANGIBLE 541700 3,274,431,963 3,274,431,963    
d
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 3,274,846,429
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 25,502     25,502
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 9,066     9,066
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss) 0 0
d Net rental income or (loss).......MediumBullet 0      
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory    
b Less: cost or other basis and sales expenses    
c Gain or (loss)    
d Net gain or (loss)..........MediumBullet 0      
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ..
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0      
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 0
12 Total revenue. See Instructions......MediumBullet 3,274,880,997 3,274,846,429   34,568
Form 990 (2014)
Form 990 (2014)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 3,227,374,435 3,227,374,435
2 Grants and other assistance to domestic individuals. See Part IV, line 22 .... 0  
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............ 3,649,647 3,649,647
4 Benefits paid to or for members .... 0  
5 Compensation of current officers, directors, trustees, and key employees .... 537,479 484,813 52,666 0
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages .... 5,184,553 4,676,536 508,017 0
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 371,702 335,280 36,422 0
9 Other employee benefits ....... 331,237 298,781 32,456 0
10 Payroll taxes ........... 376,282 335,658 40,624  
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 425,730 425,730 0 0
c Accounting ........... 3,850 0 3,850 0
d Lobbying ........... 0      
e Professional fundraising services. See Part IV, line 17 0  
f Investment management fees ...... 0      
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) .... 181,207 181,207 0 0
12 Advertising and promotion .... 0      
13 Office expenses ....... 1,173,448 1,084,858 88,590 0
14 Information technology ...... 817,658 756,099 61,559 0
15 Royalties .. 0      
16 Occupancy ........... 813,699 758,019 55,680 0
17 Travel ............ 236,645 220,818 15,827 0
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 174,600 164,518 10,082 0
20 Interest ........... 0      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 422,094 408,339 13,755 0
23 Insurance .............. 192,740 192,740 0 0
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a CONTRACTED RESEARCH 32,071,504 32,071,504 0 0
b CHEMISTRY 110,478 110,478 0 0
c MEDICAL ADVISORY FEES 349,644 349,644 0 0
d MISCELLANEOUS 82,365 82,365 0 0
e All other expenses        
25 Total functional expenses. Add lines 1 through 24e 3,274,880,997 3,273,961,469 919,528 0
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2014)
Form 990 (2014)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ............. 0 1 0
2 Savings and temporary cash investments ......... 4,019,774 2 2,026,003
3 Pledges and grants receivable, net ........... 0 3 0
4 Accounts receivable, net ............. 412,310 4 261,700
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
0 5 0
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
0 6 0
7 Notes and loans receivable, net ............. 0 7 0
8 Inventories for sale or use .............. 0 8 0
9 Prepaid expenses and deferred charges .......... 278,678 9 404,036
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 1,848,914
b Less: accumulated depreciation ..... 10b 914,587 1,053,796 10c 934,327
11 Investments—publicly traded securities .......... 0 11 0
12 Investments—other securities. See Part IV, line 11 ..... 0 12 0
13 Investments—program-related. See Part IV, line 11 ..... 0 13 0
14 Intangible assets ............... 0 14 0
15 Other assets. See Part IV, line 11 ........... 50,219,837 15 59,426,357
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 55,984,395 16 63,052,423
Liabilities 17 Accounts payable and accrued expenses ......... 1,148,106 17 1,129,462
18 Grants payable ................. 54,836,289 18 61,922,961
19 Deferred revenue ................ 0 19 0
20 Tax-exempt bond liabilities ............. 0 20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 0 21 0
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 0 25 0
26 Total liabilities. Add lines 17 through 25......... 55,984,395 26 63,052,423
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 0 27 0
28 Temporarily restricted net assets ........... 0 28 0
29 Permanently restricted net assets ........... 0 29 0
Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ........   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ........... 0 33 0
34 Total liabilities and net assets/fund balances ........ 55,984,395 34 63,052,423
Form 990 (2014)
Form 990 (2014)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
3,274,880,997
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
3,274,880,997
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
0
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
0
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
 
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
0
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII .............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? .................
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2014)
Form 990 (2014)
Page 13
Form 990, Special Condition Description:
Special Condition Description
Form 990 (2014)
Form 990 (2014)
Page 14
Additional Data


Software ID:  
Software Version:  
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
a
b
c
d
e
f
Enter the number of supported organizations ............................. 1
g
Provide the following information about the supported organization(s).
(i)Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
(A) CYSTIC FIBROSIS FOUNDATION
  		131930701 07 Yes   3,180,372,057 0
Total : 11 3,180,372,057

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..  
6 Public support. Subtract line 5 from line 4.  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..            
11 Total support Add lines 7 through 10.  
12
12
 
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
Yes
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
No
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.
3a
 
No
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.
4a
 
No
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
No
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
No
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
No
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).
8
 
No
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
No
b
Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
No
c
Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
No
10a
Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.
10a
 
No
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?
11a
 
No
b
A family member of a person described in (a) above?
11b
 
No
c
A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.
11c
 
No
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 5
Part IV
Supporting Organizations (continued)

Section B. Type I Supporting Organizations
Yes
No
1
Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
Yes
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
No
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer (a) and (b) below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer (a) and (b) below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 6
Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1.   Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    

Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors (explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by .035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    

Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7   Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 7
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity		  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations  
4 Amounts paid to acquire exempt-use assets  
5 Qualified set-aside amounts (prior IRS approval required)  
6 Other distributions (describe in Part VI). See instructions  
7Total annual distributions. Add lines 1 through 6.  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions		  
9 Distributable amount for 2014 from Section C, line 6  
10 Line 8 amount divided by Line 9 amount  

Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2014 		(iii)
Distributable
Amount for 2014
1 Distributable amount for 2014 from Section C, line
6 		 
2 Underdistributions, if any, for years prior to 2014
(reasonable cause required--see instructions)		  
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2014 distributable amount  
i Carryover from 2009 not applied (see
instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.  
4Distributions for 2014 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2014 distributable amount  
c Remainder. Subtract lines 4a and 4b from 4.  
5 Remaining underdistributions for years prior to
2014, if any. Subtract lines 3g and 4a from line 2
(if amount greater than zero, see instructions)		  
6 Remaining underdistributions for 2014. Subtract
lines 3h and 4b from line 1 (if amount greater than
zero, see instructions)		  
7 Excess distributions carryover to 2015. Add lines
3j and 4c.		  
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......  
e From 2014.......  
Schedule A (Form 990 or 990-EZ) (2014)
Schedule A (Form 990 or 990-EZ) 2014
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance ....          
b Contributions ........          
c Net investment earnings, gains, and losses          
d Grants or scholarships .....          
e Other expenditures for facilities
and programs ........ 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............   4,914 4,914 0
d Equipment ................   1,844,000 909,673 934,327
e Other .................        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 934,327
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) INTERCOMPANY RECEIVABLE 59,426,357








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 59,426,357
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes  








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D (Form 990) 2014

Additional Data


Software ID:  
Software Version:  




SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants
and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria
used to award the grants or assistance? ...........................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total expenditures
for and investments
in region
North America     Grantmaking NONE 860,726
Europe (Including Iceland and Greenland)     Grantmaking none 1,320,875
East Asia and the Pacific     Grantmaking none 1,236,008
Middle East and North Africa     Grantmaking none 232,038
           
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total .....     3,649,647
b Total from continuation sheets to Part I ...      
c Totals (add lines 3a and 3b)     3,649,647
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (a)(c) Region (b)(d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
North America DRUG DISCOVERY 216,000 CHECK      
North America DRUG DISCOVERY 262,660 CHECK      
North America DRUG DISCOVERY 50,000 CHECK      
North America CLINICAL RESEARCH 206,488 CHECK      
North America CLINICAL RESEARCH 15,660 CHECK      
North America CLINICAL RESEARCH 109,918 CHECK      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 193,482 WIRE      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 467,602 WIRE      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 116,640 WIRE      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 50,286 WIRE      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 109,624 WIRE      
Europe (Including Iceland and Greenland) DRUG DISCOVERY 142,689 WIRE      
Europe (Including Iceland and Greenland) CLINICAL RESEARCH 120,552 WIRE      
Europe (Including Iceland and Greenland) CLINICAL RESEARCH 120,000 WIRE      
East Asia and the Pacific CLINICAL RESEARCH 1,128,021 WIRE      
East Asia and the Pacific CLINICAL RESEARCH 107,987 WIRE      
Middle East and North Africa DRUG DISCOVERY 149,040 WIRE      
Middle East and North Africa DRUG DISCOVERY 82,998 WIRE      
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter ....MediumBullet
17
3
Enter total number of other organizations or entities .......................MediumBullet
0
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
Procedures for monitoring grant funds outside of the U.S. SCHEDULE F, PART 1, LINE 2 THE ORGANIZATION HAS PROCEDURES IN PLACE TO MONITOR THE SCIENTIFIC PROGRESS AND FINANCIAL ASPECTS OF GRANTS AWARDED TO ENTITIES OUTSIDE OF THE UNITED STATES. THE ORGANIZATION FOLLOWS THE U.S. DEPARTMENT OF TREASURY ANTI-TERRORIST FINANCING VOLUNTARY BEST PRACTICES GUIDELINES FOR CHARITIES. IN COMPLIANCE WITH THE BEST PRACTICES, THE ORGANIZATION COLLECTS AND REVIEWS INFORMATION ABOUT THE PROSPECTIVE GRANTEES AND CONDUCTS A VETTING PROCESS TO ENSURE THEY ARE NOT SUSPECTED OF ACTIVITIES RELATED TO TERRORISM. ONCE A GRANT IS APPROVED, A WRITTEN AGREEMENT IS SIGNED BY BOTH THE ORGANIZATION AND THE GRANTEE. FUNDING IS INCREMENTAL AND SPONSORED INSTITUTIONS ARE REQUIRED TO SUBMIT ANNUAL REPORTS OF EXPENDITURES AS WELL AS SCIENTIFIC PROGRESS REPORTS. SCIENTIFIC REPORTS ARE REVIEWED BY THE ORGANIZATION'S SCIENTIFIC STAFF TO DETERMINE PROGRESS. THE FINAL GRANT PAYMENT IS CONTINGENT UPON RECEIPT AND APPROVAL OF THE REPORT OF EXPENDITURES. REPORTS OF EXPENDITURES ARE REVIEWED AND APPROVED BY STAFF TO ENSURE INCURRED COSTS ARE APPROPRIATE. THE CF FOUNDATION'S INTERNAL AUDITORS CONDUCT AUDITS ON SAMPLES OF GRANT EXPENDITURE REPORTS BY EXAMINING SUPPORTING RECORDS FROM THE SPONSORED INSTITUTIONS. THE GRANTS IN THE MIDDLE EAST/NORTH AFRICA REGION WERE MADE TO BAR-ILAN UNIVERSITY AND HEBREW UNIVERSITY OF JERUSALEM, UNIVERSITIES IN ISRAEL.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2014
Additional Data


Software ID:  
Software Version:  



Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number
91-2059167
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) Albany Medical College
47 New Scotland Ave
Mail Code 88
Albany,NY12208 		14-1338310 501c(3) 80,395       CLINICAL RESEARCH CENTER
(2) All Children's Hospital
Dept 9010
PO Box 31020
St Petersburg,FL33731 		59-0683252 501c(3) 121,921       CLINICAL RESEARCH CENTER
(3) Ann and Robert H Lurie Children's Hospital of Chi
2300 Childrens Plaza - Box 205
Chicago,IL60614 		36-2170833 501c(3) 50,658       CLINICAL RESEARCH
(4) Ann and Robert H Lurie Children's Hospital of Chi
2300 Childrens Plaza
Chicago,IL60614 		36-3357006 501c(3) 12,350       ACADEMIC ADVISORY AWARD
(5) Ann and Robert H Lurie Children's Hospital of Chi
2300 Childrens Plaza
Box 43
Chicago,IL60614 		36-3357006 501c(3) 61,697       CLINICAL RESEARCH CENTER
(6) Arizona Board of Regents University of Arizona
Sponsored Projects Services
Box 43
Tucson,AZ85722 		74-2652689 IRC 115 27,000       ADHERENCE
(7) Arizona Board of Regents University of Arizona
Sponsored Projects Services
888 N Euclid Room 510
Tucson,AZ85722 		74-2652689 IRC 115 184,383       CLINICAL RESEARCH CENTER
(8) Arizona Board of Regents University of Arizona
Sponsored Projects Services
888 N Euclid Room 510
Tucson,AZ85722 		74-2652689 IRC 115 266,463       CLINICAL RESEARCH STUDY
(9) Atlantic Health System
100 Madison Avenue
888 N Euclid Room 510
Morristown,NJ07962 		52-1958352 501c(3) 72,581       CLINICAL RESEARCH CENTER
(10) Baylor College of Medicine
PO Box 1
Houston,TX77212 		74-1613878 501c(3) 257,664       CLINICAL RESEARCH CENTER
(11) Beth Israel Medical Center
Office of Grants Contracts
New York,NY10038 		13-5564934 501c(3) 74,768       CLINICAL RESEARCH CENTER
(12) Board of Regents of the University of Wisconsin Sy
Research and Sponsored Programs
160 Water Street 24th Floor
Madison,WI537151218 		39-6006492 501c(3) 106,389       CLINICAL RESEARCH CENTER
(13) Board of Regents of the University of Wisconsin Sy
Research and Sponsored Programs
21 N Park St Suite 6401
Madison,WI537151218 		39-6006492 501c(3) 129,693       CLINICAL RESEARCH STUDY
(14) Board of Trustees of the Leland Stanford Junior Un
Stanford University
21 N Park St Suite 6401
Stanford,CA943056215 		94-1156365 501c(3) 27,000       ADHERENCE
(15) Board of Trustees of the Leland Stanford Junior Un
Stanford University
651 Serra Street Suite 220
Stanford,CA943056215 		94-1156365 501c(3) 194,399       DRUG DISCOVERY AWARD
(16) Board of Trustees of the Leland Stanford Junior Un
Stanford University
651 Serra Street Suite 220
Stanford,CA943056215 		94-1156365 501c(3) 218,111       CLINICAL RESEARCH CENTER
(17) Board of Trustees of the Leland Stanford Junior Un
Stanford University
651 Serra Street Suite 220
Stanford,CA943056215 		94-1156365 501c(3) 38,326       CLINICAL RESEARCH
(18) Board of Trustees of the Leland Stanford Junior Un
Stanford University
651 Serra Street Suite 220
Stanford,CA943056215 		94-1156365 501c(3) 28,070       CLINICAL RESEARCH STUDY
(19) Case Western Reserve University
10900 Euclid Avenue
651 Serra Street Suite 220
Cleveland,OH441067015 		34-1018992 501c(3) 35,846       ACADEMIC ADVISORY AWARD
(20) Case Western Reserve University
10900 Euclid Avenue
Cleveland,OH441067015 		34-1018992 501c(3) 114,156       DRUG DISCOVERY AWARD
(21) Case Western Reserve University
10900 Euclid Avenue
Cleveland,OH441067015 		34-1018992 501c(3) 441,236       CLINICAL RESEARCH CENTER
(22) Case Western Reserve University
10900 Euclid Avenue
Cleveland,OH441067015 		34-1018992 501c(3) 68,250       CLINICAL RESEARCH STUDY
(23) Central Florida Pulmonary Group
326 North Mills Avenue
Orlando,FL32803 		59-1760017 C CORP 5,681       CLINICAL RESEARCH CENTER
(24) Children's & Women's Physicians of Westchester LL
Pediatrics Department
Valhalla,NY10595 		13-3940462 LLP 192,699       CLINICAL RESEARCH CENTER
(25) Children's Health Care
2525 Chicago Avenue South
Munger Pavilion Room 123
Minneapolis,MN554041844 		41-1754276 501c(3) 173,404       CLINICAL RESEARCH CENTER
(26) Children's Health Care
2525 Chicago Avenue South
Minneapolis,MN554041844 		41-1754276 501c(3) 31,315       CLINICAL RESEARCH
(27) Children's Hospital Corporation
300 Longwood Avenue
Boston,MA02115 		04-2774441 501c(3) 443,273       ADHERENCE
(28) Children's Hospital Corporation
300 Longwood Avenue
Boston,MA02115 		04-2774441 501c(3) 53,079       ACADEMIC ADVISORY AWARD
(29) Children's Hospital Corporation
300 Longwood Avenue
Boston,MA02115 		04-2774441 501c(3) 277,019       CLINICAL RESEARCH CENTER
(30) Children's Hospital Corporation
300 Longwood Avenue
Boston,MA02115 		04-2774441 501c(3) 34,907       CLINICAL RESEARCH
(31) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
Cincinnati,OH45229 		31-0833936 501c(3) 27,000       ADHERENCE
(32) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
3333 Burnet Avenue
Cincinnati,OH45229 		31-0833936 501c(3) 23,232       ACADEMIC ADVISORY AWARD
(33) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
3333 Burnet Avenue
Cincinnati,OH45229 		31-0833936 501c(3) 325,475       DRUG DISCOVERY AWARD
(34) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
3333 Burnet Avenue
Cincinnati,OH45229 		31-0833936 501c(3) 263,586       CLINICAL RESEARCH CENTER
(35) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
3333 Burnet Avenue
Cincinnati,OH45229 		31-0833936 501c(3) 53,067       CLINICAL RESEARCH
(36) Children's Hospital Medical Center
Cincinnati Childrens Hospital Med
3333 Burnet Avenue
Cincinnati,OH45229 		31-0833936 501c(3) 540,058       CLINICAL RESEARCH STUDY
(37) Children's Hospital Medical Center of Akron
1 Perkins Square
3333 Burnet Avenue
Akron,OH44308 		34-0714357 501c(3) 79,556       CLINICAL RESEARCH CENTER
(38) Children's Hospital Los Angeles
4650 Sunset Blvd
Los Angeles,CA90027 		95-1690977 501c(3) 151,798       CLINICAL RESEARCH CENTER
(39) Children's Medical Center
One Childrens Plaza
Dayton,OH45404 		31-0672132 501c(3) 157,605       CLINICAL RESEARCH CENTER
(40) Connecticut Children's Medical Center
282 Washington Street
Hartford,CT06106 		06-0646755 501c(3) 63,245       CLINICAL RESEARCH CENTER
(41) Cook Children's Medical Center
801 Seventh Avenue
Ft Worth,TX76104 		75-2051646 501c(3) 185,399       CLINICAL RESEARCH CENTER
(42) Emory University
1784 N Decatur Road
Atlanta,GA30322 		58-0566256 501c(3) 236,933       CLINICAL RESEARCH CENTER
(43) Emory University
1784 N Decatur Road
Suite 510
Atlanta,GA30322 		58-0566256 501c(3) 410,521       CLINICAL RESEARCH STUDY
(44) Georgia Health Sciences University Research Instit
1120 15th Street
Suite 510
Augusta,GA309124810 		58-1418202 501c(3) 115,888       CLINICAL RESEARCH STUDY
(45) Institute for Applied Gerontology Inc
39 Broadway Suite 1210
CJ 3301
New York,NY10006 		11-3135751 C CORP 134,035       CLINICAL RESEARCH STUDY
(46) Kaiser Foundation Research Institute
1800 Harrison Street
Oakland,CA94612 		94-1105628 501c(3) 166,936       CLINICAL RESEARCH CENTER
(47) Maine Medical Center
22 Bramhall Street
16th Floor
Portland,ME041023175 		01-0238552 501c(3) 142,457       CLINICAL RESEARCH CENTER
(48) Medical University of South Carolina
PO Box 997
Charleston,SC29402 		57-6000722 501c(3) 200,340       CLINICAL RESEARCH CENTER
(49) Medical University of South Carolina
PO Box 997
Charleston,SC29402 		57-6000722 501c(3) 116,783       CLINICAL RESEARCH STUDY
(50) Memorial Children's Hospital
2801 Atlantic Avenue
Long Beach,CA90806 		95-3527031 501c(3) 193,342       CLINICAL RESEARCH CENTER
(51) Monmouth Medical Center Foundation
300 Second Avenue
ATTN Childrens Administration
Long Branch,NJ07740 		22-2456079 501c(3) 65,351       CLINICAL RESEARCH CENTER
(52) National Jewish Medical and Research Center
1400 Jackson Street
Denver,CO80206 		74-2044647 501c(3) 27,000       ADHERENCE
(53) National Jewish Medical and Research Center
1400 Jackson Street
Denver,CO80206 		74-2044647 501c(3) 127,741       CLINICAL RESEARCH CENTER
(54) National Jewish Medical and Research Center
1400 Jackson Street
Denver,CO80206 		74-2044647 501c(3) 214,886       CLINICAL RESEARCH STUDY
(55) Nemours Children's Clinic Orlando
10140 Centurion Parkway North
Jacksonville,FL32256 		59-0634433 501c(3) 177,188       CLINICAL RESEARCH CENTER
(56) Northwestern University
633 Clark Street
Evanston,IL60208 		36-2167817 501c(3) 27,000       ADHERENCE
(57) Northwestern University
633 Clark Street
Crown G-547
Evanston,IL60208 		36-2167817 501c(3) 177,350       CLINICAL RESEARCH CENTER
(58) Oregon Health & Science University
Sponsored Projects Administration O
Crown G-547
Portland,OR97239 		23-7083114 501c(3) 703,051       DRUG DISCOVERY AWARD
(59) Oregon Health & Science University
Sponsored Projects Administration O
0690 SW Bancroft Street
Portland,OR97239 		23-7083114 501c(3) 279,048       CLINICAL RESEARCH CENTER
(60) Oregon Health & Science University
Sponsored Projects Administration O
0690 SW Bancroft Street
Portland,OR97239 		23-7083114 501c(3) 32,000       CLINICAL RESEARCH
(61) OSF Saint Francis Medical Center
420 NE Glen Oak Avenue
0690 SW Bancroft Street
Peoria,IL61637 		37-0662569 501c(3) 60,901       CLINICAL RESEARCH CENTER
(62) Pennsylvania State University
College of Medicine
Hershey,PA17033 		24-6000376 IRC 115 95,008       CLINICAL RESEARCH CENTER
(63) Philadelphia Health & Education Corp (Drexel Unive
3201 Arch Street
Office of Research Affairs H138
Philadelphia,PA19104 		23-2979433 501c(3) 75,574       CLINICAL RESEARCH CENTER
(64) Providence Alaska Medical Center
4045 Lake Otis Pkwy 209
Suite 420
Anchorage,AK99508 		92-0016429 501c(3) 64,282       CLINICAL RESEARCH CENTER
(65) Rainbow Babies & Children's Hospital
11100 Euclid Avenue
Cleveland,OH441066006 		34-1567805 501c(3) 35,073       CLINICAL RESEARCH
(66) Regents of the University of Colorado at Denver
Grants and Contracts Mail Stop F42
Aurora,CO80045 		84-6000555 501c(3) 26,002       ADHERENCE
(67) Regents of the University of Colorado at Denver
Grants and Contracts Mail Stop F42
Anschutz Medical Campus Bldg 500
Aurora,CO80045 		84-6000555 501c(3) 23,201       ACADEMIC ADVISORY AWARD
(68) Regents of the University of Colorado at Denver
Grants and Contracts Mail Stop F42
Anschutz Medical Campus Bldg 500
Aurora,CO80045 		84-6000555 501c(3) 270,879       CLINICAL RESEARCH CENTER
(69) Regents of the University of Colorado at Denver
Grants and Contracts Mail Stop F42
Anschutz Medical Campus Bldg 500
Aurora,CO80045 		84-6000555 501c(3) 550,454       CLINICAL RESEARCH
(70) Regents of the University of Colorado at Denver
Grants and Contracts Mail Stop F42
Anschutz Medical Campus Bldg 500
Aurora,CO80045 		84-6000555 501c(3) 1,436,711       CLINICAL RESEARCH STUDY
(71) Research Foundation of SUNY on behalf of Univ at
402 Crofts Hall
Anschutz Medical Campus Bldg 500
Buffalo,NY142607016 		14-1368361 501c(3) 27,000       ADHERENCE
(72) Research Foundation of SUNY on behalf of Univ at
402 Crofts Hall
University at Buffalo
Buffalo,NY142607016 		14-1368361 501c(3) 116,524       CLINICAL RESEARCH
(73) Research Foundation of SUNY on behalf of Upstate M
PO Box 9
University at Buffalo
Albany,NY122010009 		14-1368361 501c(3) 288,463       CLINICAL RESEARCH CENTER
(74) Rosalind Franklin University of Medicine and Scien
Green Bay Road
North Chicago,IL60064 		36-2181973 501c(3) 398,400       DRUG DISCOVERY AWARD
(75) Rutgers The State University of New Jersey
3 Rutgers Plaza
New Brunswick,NJ08901 		46-2354111 501c(3) 68,974       CLINICAL RESEARCH CENTER
(76) Sanford Children's Specialty Clinic
1305 W 18th Street
Sioux Falls,SD571175039 		46-0447693 501c(3) 73,759       CLINICAL RESEARCH CENTER
(77) Seattle Children's Hospital
4800 Sand Point Way NE
Seattle,WA98105 		91-0564748 501c(3) 4,285,469       CLINICAL RESEARCH CENTER
(78) Seattle Children's Hospital
4800 Sand Point Way NE
Seattle,WA98105 		91-0564748 501c(3) 7,783,869       CLINICAL RESEARCH
(79) Seattle Children's Hospital
4800 Sand Point Way NE
Seattle,WA98105 		91-0564748 501c(3) 1,497,699       CLINICAL RESEARCH STUDY
(80) Seton Healthcare Dell Children's
4900 Mueller Blvd
Austin,TX78723 		74-1109643 501c(3) 163,188       CLINICAL RESEARCH CENTER
(81) Spectrum Health Foundation
100 Michigan Street NE MC004
DCMC Administration 3rd Floor
Grand Rapids,MI49503 		38-2752328 501c(3) 142,872       CLINICAL RESEARCH CENTER
(82) St Louis University
3500 Lindell Blvd
St Louis,MO63103 		43-0654872 501c(3) 20,143       ACADEMIC ADVISORY AWARD
(83) St Louis University
3500 Lindell Blvd
St Louis,MO63103 		43-0654872 501c(3) 170,656       CLINICAL RESEARCH CENTER
(84) St Luke's Regional Medical Center
100 East Idaho
Boise,ID83712 		82-0161600 501c(3) 92,092       CLINICAL RESEARCH CENTER
(85) Texas Tech University Health Sciences Center
3601 4th Street Stop 6540
Suite 200
Lubbock,TX79430 		75-2668014 IRC 115 137,265       DRUG DISCOVERY AWARD
(86) The Children's Hospital of Philadelphia
3516 Civic Center Blvd
Philadelphia,PA191044318 		23-1352166 501c(3) 228,868       CLINICAL RESEARCH CENTER
(87) The Children's Hospital of Philadelphia
34th and Civic Center Boulevard
Philadelphia,PA19104 		23-1352166 501c(3) 296,930       CLINICAL RESEARCH STUDY
(88) The Children's Mercy Hospital
2401 Gillham Road
Kansas City,MO61408 		44-0605373 501c(3) 190,902       CLINICAL RESEARCH CENTER
(89) The Feinstein Institute for Medical Research
350 Community Drive
Manhasset,NY11030 		11-2673595 501c(3) 162,227       CLINICAL RESEARCH CENTER
(90) The General Hospital Corporation (Massachusetts Ge
PO Box 414876
Boston,MA022414876 		04-2697983 501c(3) 170,542       DRUG DISCOVERY AWARD
(91) The General Hospital Corporation (Massachusetts Ge
PO Box 414876
Boston,MA022414876 		04-2697983 501c(3) 93,517       CLINICAL RESEARCH CENTER
(92) The General Hospital Corporation (Massachusetts Ge
PO Box 414876
Boston,MA022414876 		04-2697983 501c(3) 230,250       CLINICAL RESEARCH STUDY
(93) The Hitchcock Foundation
One Medical Center Drive
Lebanon,NH03756 		02-0222139 501c(3) 209,644       CLINICAL RESEARCH CENTER
(94) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 26,549       ADHERENCE
(95) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 23,092       ACADEMIC ADVISORY AWARD
(96) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 291,600       DRUG DISCOVERY AWARD
(97) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 520,010       CLINICAL RESEARCH CENTER
(98) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 115,277       CLINICAL RESEARCH
(99) The Johns Hopkins University
600 N Wolfe Street Park 316
Baltimore,MD21205 		52-0595110 501c(3) 1,137,963       CLINICAL RESEARCH STUDY
(100) The Medical College of Wisconsin
8701 Watertown Plk Rd
Milwaukee,WI53226 		39-0806261 501c(3) 165,493       CLINICAL RESEARCH CENTER
(101) The Rector and Visitors of the University of Virgi
Office of Sponsored Programs
Charlottesville,VA229044195 		54-6001796 501c(3) 171,796       CLINICAL RESEARCH CENTER
(102) The Regents of the University of California San D
9500 Gilman Drive
PO Box 400195
La Jolla,CA920930984 		95-6006144 501c(3) 366,735       DRUG DISCOVERY AWARD
(103) The Regents of the University of California San D
9500 Gilman Drive
La Jolla,CA920930984 		95-6006144 501c(3) 81,729       CLINICAL RESEARCH CENTER
(104) The Regents of The University of Michigan
3003 South State Street
Ann Arbor,MI481091274 		38-6006309 501c(3) 25,450       ADHERENCE
(105) The Regents of The University of Michigan
3003 South State Street
Room 1044
Ann Arbor,MI481091274 		38-6006309 501c(3) 199,417       CLINICAL RESEARCH CENTER
(106) The Regents of The University of Michigan
3003 South State Street
Room 1044
Ann Arbor,MI481091274 		38-6006309 501c(3) 457,074       CLINICAL RESEARCH STUDY
(107) The Regents of the University of Minnesota
Sponsored Projects Administration
Room 1044
Minneapolis,MN554552070 		41-6007513 501c(3) 30,460       ACADEMIC ADVISORY AWARD
(108) The Regents of the University of Minnesota
Sponsored Projects Administration
200 Oak Street SE Suite 450
Minneapolis,MN554552070 		41-6007513 501c(3) 221,785       CLINICAL RESEARCH CENTER
(109) The Regents of the University of Minnesota
Sponsored Projects Administration
200 Oak Street SE Suite 450
Minneapolis,MN554552070 		41-6007513 501c(3) 49,441       CLINICAL RESEARCH
(110) The Research Institute at Nationwide Children's Ho
700 Childrens Drive
200 Oak Street SE Suite 450
Columbus,OH43205 		31-6056230 501c(3) 37,594       DRUG DISCOVERY AWARD
(111) The Research Institute at Nationwide Children's Ho
700 Childrens Drive
Columbus,OH43205 		31-6056230 501c(3) 149,792       CLINICAL RESEARCH CENTER
(112) The Research Institute at Nationwide Children's Ho
700 Childrens Drive
Columbus,OH43205 		31-6056230 501c(3) 43,806       CLINICAL RESEARCH
(113) The Scripps Research Institute
10666 North Torrey Pines Road
La Jolla,CA92037 		33-0435954 501c(3) 318,042       DRUG DISCOVERY AWARD
(114) The Toledo Hospital
2142 N Cove Blvd
Toledo,OH43606 		34-4428256 501c(3) 114,507       CLINICAL RESEARCH CENTER
(115) The Trustees of Columbia University in the City of
PO Box 29789
New York,NY100879789 		13-5598093 501c(3) 123,239       DRUG DISCOVERY AWARD
(116) The Trustees of Columbia University in the City of
PO Box 29789
General Post Office
New York,NY100879789 		13-5598093 501c(3) 130,075       CLINICAL RESEARCH CENTER
(117) The University of Alabama at Birmingham
1530 3rd Ave S THT422
General Post Office
Birmingham,AL352940006 		63-6005396 501c(3) 27,000       ADHERENCE
(118) The University of Alabama at Birmingham
1530 3rd Ave S THT422
Birmingham,AL352940006 		63-6005396 501c(3) 56,760       ACADEMIC ADVISORY AWARD
(119) The University of Alabama at Birmingham
1530 3rd Ave S THT422
Birmingham,AL352940006 		63-6005396 501c(3) 2,127,390       DRUG DISCOVERY AWARD
(120) The University of Alabama at Birmingham
1530 3rd Ave S THT422
Birmingham,AL352940006 		63-6005396 501c(3) 361,573       CLINICAL RESEARCH CENTER
(121) The University of Alabama at Birmingham
1530 3rd Ave S THT422
Birmingham,AL352940006 		63-6005396 501c(3) 100,769       CLINICAL RESEARCH
(122) The University of Chicago
University Research Administration
Chicago,IL60637 		36-2177139 501c(3) 25,772       ACADEMIC ADVISORY AWARD
(123) The University of Iowa
Office of Vice President for Resear
970 E 58th Street
Iowa City,IA52242 		42-6004813 501c(3) 1,199,848       DRUG DISCOVERY AWARD
(124) The University of Iowa
Office of Vice President for Resear
Division of Sponsored Programs
Iowa City,IA52242 		42-6004813 501c(3) 218,284       CLINICAL RESEARCH CENTER
(125) The University of Iowa
Office of Vice President for Resear
Division of Sponsored Programs
Iowa City,IA52242 		42-6004813 501c(3) 8,592       CLINICAL RESEARCH
(126) The University of North Carolina at Chapel Hill
300 Bynum Hall
Division of Sponsored Programs
Chapel Hill,NC275994100 		56-6001393 501c(3) 23,929       ACADEMIC ADVISORY AWARD
(127) The University of North Carolina at Chapel Hill
300 Bynum Hall
CB 4100
Chapel Hill,NC275994100 		56-6001393 501c(3) 1,844,892       DRUG DISCOVERY AWARD
(128) The University of North Carolina at Chapel Hill
300 Bynum Hall
CB 4100
Chapel Hill,NC275994100 		56-6001393 501c(3) 411,549       CLINICAL RESEARCH CENTER
(129) The University of North Carolina at Chapel Hill
300 Bynum Hall
CB 4100
Chapel Hill,NC275994100 		56-6001393 501c(3) 269,128       CLINICAL RESEARCH
(130) The University of North Carolina at Chapel Hill
300 Bynum Hall
CB 4100
Chapel Hill,NC275994100 		56-6001393 501c(3) 111,721       CLINICAL RESEARCH STUDY
(131) The University of Utah
201 S Presidents Circle
CB 4100
Salt Lake City,UT84112 		87-6000525 501c(3) 191,981       CLINICAL RESEARCH CENTER
(132) The University of Utah
201 S Presidents Circle
Room 406
Salt Lake City,UT84112 		87-6000525 501c(3) 573,237       CLINICAL RESEARCH STUDY
(133) The University of Vermont and State Agricultural C
Grant and Contract Administrative S
Room 406
Burlington,VT05405 		03-0179440 501c(3) 154,787       CLINICAL RESEARCH CENTER
(134) Trustees of Dartmouth College
Dartmouth Medical School
223 Waterman Bldg
Hanover,NH037551404 		02-0222111 501c(3) 91,000       CLINICAL RESEARCH STUDY
(135) Trustees of Indiana University
Financial Management Services
Dept of Microbiology and Immunolog
Indianapolis,IN462666057 		35-6001673 501c(3) 373,377       CLINICAL RESEARCH CENTER
(136) Trustees of Indiana University
Financial Management Services
PO Box 66057
Indianapolis,IN462666057 		35-6001673 501c(3) 33,857       CLINICAL RESEARCH
(137) Trustees of the University of Pennsylvania
133 South 36th Street Mezzanine
PO Box 66057
Philadelphia,PA191043246 		23-1352685 501c(3) 59,477       CLINICAL RESEARCH CENTER
(138) University at Buffalo Pediatric Associates
239 Bryant Street
Buffalo,NY14222 		16-1238821 501c(3) 27,000       ADHERENCE
(139) University at Buffalo Pediatric Associates
239 Bryant Street
2nd Floor
Buffalo,NY14222 		16-1238821 501c(3) 213,200       ACADEMIC ADVISORY AWARD
(140) University at Buffalo Pediatric Associates
239 Bryant Street
2nd Floor
Buffalo,NY14222 		16-1238821 501c(3) 10,815       CLINICAL RESEARCH
(141) University Hospitals of Cleveland
2074 Abingdon Road
2nd Floor
Cleveland,OH44106 		34-0714775 501c(3) 54,000       ADHERENCE
(142) University of Arkansas for Medical Sciences
4301 West Markham Street
Little Rock,AR72205 		71-6046242 501c(3) 87,674       CLINICAL RESEARCH CENTER
(143) University of Florida
123 Grinter Hall
Mail Slot 555
Gainesville,FL32611 		59-6002052 IRC 115 138,168       CLINICAL RESEARCH CENTER
(144) University of Kansas Medical Center Research Insti
3901 Rainbow Boulevard
Kansas City,KS661607702 		48-1108830 501c(3) 27,000       ADHERENCE
(145) University of Kansas Medical Center Research Insti
3901 Rainbow Boulevard
Kansas City,KS661607702 		48-1108830 501c(3) 73,953       CLINICAL RESEARCH CENTER
(146) University of Kentucky Research Foundation
337 Peterson
Lexington,KY405060005 		61-6033693 501c(3) 157,518       CLINICAL RESEARCH CENTER
(147) University of Massachusetts Medical School
55 Lake Avenue North
Worcester,MA01655 		04-3167352 IRC 115 72,598       CLINICAL RESEARCH CENTER
(148) University of Miami
PO Box 025405
Miami,FL331025405 		59-0624458 501c(3) 32,400       ADHERENCE
(149) University of Miami
PO Box 025405
Miami,FL331025405 		59-0624458 501c(3) 166,919       CLINICAL RESEARCH CENTER
(150) University of Nebraska Medical Center
985100 Nebraska Medical Center
Omaha,NE681985190 		47-0491233 501c(3) 101,698       CLINICAL RESEARCH CENTER
(151) University of Oklahoma Health Sciences Center
PO Box 26901
Oklahoma City,OK73190 		73-6017987 501c(3) 90,995       CLINICAL RESEARCH CENTER
(152) University of Pittsburgh
350 Thackeray Hall
Pittsburgh,PA15260 		25-0965591 501c(3) 391,062       DRUG DISCOVERY AWARD
(153) University of Pittsburgh
350 Thackeray Hall
Pittsburgh,PA15260 		25-0965591 501c(3) 282,751       CLINICAL RESEARCH CENTER
(154) University of Pittsburgh
350 Thackeray Hall
Pittsburgh,PA15260 		25-0965591 501c(3) 229,288       CLINICAL RESEARCH
(155) University of Puerto Rico Medical Sciences Campus
201 Boulevard Del Valle
San Juan,PR00901 		66-0433762 N/A 94,880       DRUG DISCOVERY AWARD
(156) University of Rochester
Box 649
Rochester,NY14642 		16-0743209 501c(3) 164,456       CLINICAL RESEARCH CENTER
(157) University of Rochester- Department of Pediatrics
166 Washington Avenue
601 Elmwood Avenue
Batavia,NY14020 		16-0743209 501c(3) 40,888       CLINICAL RESEARCH
(158) University of South Alabama
Admin Bldg 362
Mobile,AL36688 		63-0477348 501c(3) 108,000       DRUG DISCOVERY AWARD
(159) University of Southern California
Department of Contracts Grants
Los Angeles,CA90033 		95-1642394 501c(3) 44,670       CLINICAL RESEARCH CENTER
(160) University of Tennessee
62 S Dunlap
1540 Alcazar Street CHP-100
Memphis,TN38163 		62-6001636 IRC 115 131,270       CLINICAL RESEARCH CENTER
(161) University of Washington
Office of Sponsored Programs
Seattle,WA981056692 		91-6001537 IRC 115 89,465       ACADEMIC ADVISORY AWARD
(162) University of Washington
4333 Brooklyn Avenue NE Box 359472
4333 Brooklyn Avenue NE
Seattle,WA981959472 		91-6001537 IRC 115 133,549       DRUG DISCOVERY AWARD
(163) University of Washington
Office of Sponsored Programs
Seattle,WA981056692 		91-6001537 IRC 115 184,585       CLINICAL RESEARCH CENTER
(164) University of Washington
Office of Sponsored Programs
4333 Brooklyn Avenue NE
Seattle,WA981056692 		91-6001537 IRC 115 38,130       CLINICAL RESEARCH STUDY
(165) UT Southwestern Medical Center at Dallas
5323 Harry Hines Boulevard
4333 Brooklyn Avenue NE
Dallas,TX753909105 		75-6002868 IRC 115 620,392       DRUG DISCOVERY AWARD
(166) UT Southwestern Medical Center at Dallas
5323 Harry Hines Boulevard
Dallas,TX753909105 		75-6002868 IRC 115 231,735       CLINICAL RESEARCH CENTER
(167) Vanderbilt University
PO Box 30195
Nashville,TN372410195 		62-0476822 501c(3) 183,591       CLINICAL RESEARCH CENTER
(168) Via Christi Regional Medical Center Inc
707 N Emporia
Wichita,KS67214 		48-1172106 501c(3) 58,644       CLINICAL RESEARCH CENTER
(169) Virginia Commonwealth University
Box 2506 - VCU Station
Richmond,VA232842506 		54-6001758 501c(3) 32,400       ADHERENCE
(170) Virginia Commonwealth University
Box 2506 - VCU Station
Richmond,VA232842506 		54-6001758 501c(3) 71,950       CLINICAL RESEARCH CENTER
(171) Virginia Commonwealth University
Box 2506 - VCU Station
Richmond,VA232842506 		54-6001758 501c(3) 37,800       CLINICAL RESEARCH STUDY
(172) Wake Forest University Health Sciences
Medical Center Blvd
WinstonSalem,NC271571064 		22-3849199 501c(3) 54,000       CLINICAL RESEARCH CENTER
(173) Washington University
660 S Euclid Avenue
St Louis,MO63110 		43-0653611 501c(3) 274,447       CLINICAL RESEARCH CENTER
(174) Washington University
660 S Euclid Avenue
St Louis,MO63110 		43-0653611 501c(3) 14,407       CLINICAL RESEARCH
(175) Wayne State University
Grants Contracts Office III
Detroit,MI48201 		38-3028425 501c(3) 190,901       CLINICAL RESEARCH CENTER
(176) West Virginia University Research Corporation
WVU
Research and Sponsored Programs
Morgantown,WV265066001 		55-0665758 501c(3) 26,987       ADHERENCE
(177) West Virginia University Research Corporation
WVU
One Waterfront Place
Morgantown,WV265066001 		55-0665758 501c(3) 151,540       CLINICAL RESEARCH CENTER
(178) Yale University
47 College Street Suite 203
One Waterfront Place
New Haven,CT065208047 		06-0646973 501c(3) 62,786       CLINICAL RESEARCH CENTER
(179) Cystic Fibrosis Foundation - Headquarters
6931 Arlington Road Suite 200
PO Box 208047
Bethesda,MD20814 		13-1930701 501c(3) 3,180,372,057       GENERAL SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
96
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
4
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2014

Schedule I (Form 990) 2014
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance












Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
PROCEDURES FOR MONITORING GRANT FUNDS INSIDE OF THE U.S. PART 1, LINE 2 THE ORGANIZATION HAS PROCEDURES IN PLACE TO MONITOR THE SCIENTIFIC PROGRESS AND FINANCIAL ASPECTS OF GRANT FUNDS AWARDED TO ENTITIES INSIDE OF THE US. SPONSORED INSTITUTIONS ARE REQUIRED TO SUBMIT ANNUAL REPORTS OF EXPENDITURES AS WELL AS SCIENTIFIC PROGRESS REPORTS. SCIENTIFIC REPORTS ARE REVIEWED BY THE ORGANIZATION'S SCIENTIFIC STAFF TO ENSURE PROGRESS HAS BEEN ATTAINED. THE FINAL GRANT PAYMENT IS CONTINGENT UPON RECEIPT AND APPROVAL OF THE REPORT OF EXPENDITURES. REPORTS OF EXPENDITURES ARE REVIEWED AND APPROVED BY STAFF TO ENSURE INCURRED COSTS ARE APPROPRIATE. THE CF FOUNDATION'S INTERNAL AUDITORS CONDUCT AUDITS ON SAMPLES OF GRANT EXPENDITURE REPORTS BY EXAMINING SUPPORTING RECORDS FROM THE SPONSORED INSTITUTIONS.
Schedule I (Form 990) 2014


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ................
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column(B) reported as deferred in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
1ROBERT J BEALL PHDPRESIDENT AND CEO (i)
(ii)		 200,570
...............................
399,993 		114,924
...............................
233,330 		8,060
...............................
16,814 		58,825
...............................
145,953 		0
...............................
19,255 		382,379
...............................
815,345 		32,057
...............................
65,086
2PRESTON W CAMPBELL MDEXEC VP OF MEDICAL AFFAIRS (i)
(ii)		 133,626
...............................
261,919 		74,524
...............................
151,307 		5,775
...............................
19,649 		40,216
...............................
108,170 		0
...............................
26,436 		254,141
...............................
567,481 		23,599
...............................
47,912
3C RICHARD MATTINGLYEXEC VP AND COO (i)
(ii)		 0
...............................
399,981 		0
...............................
222,762 		0
...............................
23,012 		0
...............................
173,105 		0
...............................
16,161 		0
...............................
835,021 		0
...............................
72,377
4VERA H TWIGGEXEC VP & CFO (i)
(ii)		 0
...............................
300,886 		0
...............................
139,087 		0
...............................
21,930 		0
...............................
59,013 		0
...............................
26,436 		0
...............................
547,352 		0
...............................
30,185
5BRUCE MARSHALL MDSR. VP OF CLINICAL AFFAIRS (i)
(ii)		 321,697
...............................
0 		82,560
...............................
0 		3,564
...............................
0 		31,520
...............................
0 		600
...............................
0 		439,941
...............................
0 		0
...............................
0
6MARTIN MENSE PHDPRINCIPAL SCIENTIST DRUG DISC (i)
(ii)		 175,295
...............................
0 		33,165
...............................
0 		556
...............................
0 		21,028
...............................
0 		25,230
...............................
0 		255,274
...............................
0 		0
...............................
0
7THEODORE TORPHY PHDHEAD OF RESEARCH STRATEGY (i)
(ii)		 228,800
...............................
0 		0
...............................
0 		0
...............................
0 		0
...............................
0 		0
...............................
0 		228,800
...............................
0 		0
...............................
0
8HERMANN BIHLER PHDSENIOR SCIENTIST (i)
(ii)		 141,837
...............................
0 		8,973
...............................
0 		419
...............................
0 		13,417
...............................
0 		0
...............................
0 		164,646
...............................
0 		0
...............................
0
9FENG LIANG PHDSENIOR SCIENTIST (i)
(ii)		 125,364
...............................
0 		11,433
...............................
0 		380
...............................
0 		12,458
...............................
0 		25,478
...............................
0 		175,113
...............................
0 		0
...............................
0
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN Part I, Line 4b: Certain persons listed in Form 990, Part VII, Section A participate in a nonqualified deferred compensation plan, under which interests are forfeited by the participant if the participant voluntarily terminates employment prior to the designated vesting date. Further information about the nonqualified deferred compensation plan in which those persons participate is provided in the additional information for Schedule J, Part II, below. Part I, Line 7: Several individuals listed in Form 990, Part VII, Section A, line 1a, (who are identified in Part II, below) participated in an Incentive Compensation Plan, from which non-fixed payments not described in lines 5 and 6 were paid. The Plan is sponsored by CFF, a related organization. The individuals participate by virtue of being officers of CFF. However, if an individual also is an officer of CFFT and receives compensation from CFFT, a portion of the individual's award is paid by CFFT. The Incentive Compensation Plan pays non-fixed payments subject to, and based on, the achievement of annual performance objectives established in advance by the Compensation Committee. In addition, the Incentive Compensation Plan pays non-fixed payments that relate to a three-year performance period, subject to, and based on, the achievement of long-term performance objectives established in advance by the Compensation Committee. Any financial performance objectives established under the Incentive Compensation Plan do not include program-related revenues (such as royalty streams, lump-sum payments, other program-related income, and sales proceeds from transfer of the foregoing to third parties) related to the development and approval of CF drugs.
COMPENSATION Part II: Cystic Fibrosis Foundation Therapeutics, Inc. (A) Name: R. Beall, Ph.D.; (B)(i) Base Compensation: base salary - $192,980, 401(k) bonus - $7,590; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $59,767, long-term incentive plan payment, which was previously reported (6) - $32,057, long-term incentive plan treatment award (3) - $23,100; (B)(iii) Other Reportable Compensation: health insurance benefit - $1,559, automobile allowance - $2,376, other benefits - $4,125 (C) Deferred Compensation: long-term incentive plan benefit (6) - $26,485, SERP (4) - $32,340; (D) Nontaxable Benefits: $0 Cystic Fibrosis Foundation - Headquarters. EIN 13-1930701. (A) Name: R. Beall, Ph.D.; (B)(i) Base Compensation: base salary - $384,583, 401(k) bonus - $15,410; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $121,344, long-term incentive plan payment, which was previously reported (6) - $65,086, long-term incentive plan treatment award (3) - $46,900; (B)(iii) Other Reportable Compensation: health insurance benefit - $3,165, automobile allowance - $4,824, other benefits - $8,825; (C) Deferred Compensation: retirement benefit (2) - $26,520, long-term incentive plan benefit (6) - $53,773, SERP (4) - $65,660; (D) Nontaxable Benefits: employer contribution to general organization health plan benefit - $12,031, employee contribution to flexible spending account benefit - $2,500, employee contribution to general organization health plan benefit - $4,724 Cystic Fibrosis Foundation Therapeutics, Inc. EIN 91-2059167. (A) Name: P. Campbell, M.D.; (B)(i) Base Compensation: base salary - $133,626; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $34,426, long-term incentive plan payment, which was previously reported (6) - $23,599, long-term incentive plan treatment award (3) - $16,500; (B)(iii) Other Reportable Compensation: Section 457(b) Plan (5) - $5,775; (C) Deferred Compensation: long-term incentive plan benefit (6) - $19,258, SERP (4) - $20,958; (D) Nontaxable Benefits: $0 Cystic Fibrosis Foundation - Headquarters. EIN 13-1930701. (A) Name: P. Campbell, M.D.; (B)(i) Base Compensation: base salary - $261,919; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $69,894, long-term incentive plan payment, which was previously reported (6) - $47,912, long-term incentive plan treatment award (3) - $33,500; (B)(iii) Other Reportable Compensation: other benefits including taxable general organization group term life insurance premium - $7,924, Section 457(b) Plan (5) - $11,725; (C) Deferred Compensation: retirement benefit (2) - $26,520, long-term incentive plan benefit (6) - $39,099, SERP (4) - $42,551; (D) Nontaxable Benefits: employer contribution to general organization health plan benefit - $17,053, employee contribution to flexible spending account benefit - $2,500, employee contribution to general organization health plan benefit - $6,883 Cystic Fibrosis Foundation - Headquarters. EIN 13-1930701. (A) Name: R. Mattingly; (B)(i) Base Compensation: base salary - $399,981; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $100,385, long-term incentive plan payment, which was previously reported (6) - $72,377, long-term incentive plan treatment award (3) - $50,000; (B)(iii) Other Reportable Compensation: Section 457(b) Plan (5) - $17,500; other benefits including taxable general organization group term life insurance premium - $5,512; (C) Deferred Compensation: retirement benefit (2) - $26,520, long-term incentive plan benefit (6) - $58,531, SERP (4) - $88,054; (D) Nontaxable Benefits: employer contribution to general organization health plan benefit - $10,760, employee contribution to flexible spending account benefit - $1,600, employee contribution to general organization health plan benefit - $3,801 Cystic Fibrosis Foundation - Headquarters. EIN 13-1930701. (A) Name: V. Twigg; (B)(i) Base Compensation: base salary - $300,886; (B)(ii) Bonus & Incentive Compensation: annual incentive plan benefit (1) - $73,902, long-term incentive plan payment, which was previously reported (6) - $30,185, long-term incentive plan treatment award (3) - $35,000; (B)(iii) Other Reportable Compensation: other benefits including taxable general organization group term life insurance premium - $4,430, Section 457(b) Plan (5) - $17,500; (C) Deferred Compensation: retirement benefit (2) - $26,520, long-term incentive plan benefit (6) - $27,386, SERP (4) - $5,107; (D) Nontaxable Benefits: employer contribution to general organization health plan benefit - $17,053, employee contribution to flexible spending account benefit - $2,500, employee contribution to general organization health plan benefit - $6,883 (1) This is an award subject to, and based on, achievement of annual performance standards established in advance by the Compensation Committee of the CFF Board. Any financial performance objectives established under the Incentive Compensation Plan do not include program-related revenues (such as royalty streams, lump-sum payments, other program-related income, and sales proceeds from transfer of the foregoing to third parties) related to the development and approval of CF drugs. (2) This is the employer contribution made under the Cystic Fibrosis Foundation 401(k) Plan for the 2014 Plan Year. (3) This is an award under a plan sponsored by CFF, a related organization, which pays a specified dollar amount only if and when the FDA approves certain pre-specified types of therapies. In the event the employee terminates employment prior to FDA approval of the specified therapy type and payment of the award, the employee will forfeit his or her right to receive payment, unless termination is due to retirement or disability. The plan will terminate on December 31, 2018 unless CFF determines to extend the plan. (4) The SERP is sponsored by CFF, a related organization. The executive participates by virtue of being an officer of CFF. However, both CFFT and CFF make contributions on the executive's behalf if the executive receives compensation from CFFT (as an officer of CFFT) and from CFF (as an officer of CFF). A. This is an unvested employer contribution to the SERP. B. SERP interests are forfeited by the participant if the participant voluntarily terminates employment prior to attaining the vesting date designated by CFF (which is either a specified age or date, depending on the participant). C. SERP interests are held in a trust subject to the claims of CFF's bankruptcy creditors. In the event of a CFF bankruptcy, participants would become general unsecured creditors of CFF. D. The SERP is a nonqualified deferred compensation plan. This means that participants do not receive the tax benefits available to participants in tax qualified retirement plans. For example, under current law, interests under SERPs are reportable as taxable compensation when they become vested, even if those amounts are not yet payable to the participant (and even if those amounts are never paid to the participant). E. The SERP's design was reviewed and opined upon as reasonable by an independent compensation consultant. SERP contribution amounts were determined by an independent actuary. F. CFF retains the right to amend or terminate the SERP at any time. (5) The 457(b) Plan is sponsored by CFF, a related organization. The executive participates by virtue of being an officer of CFF. However, both CFFT and CFF make contributions on the executive's behalf if the executive receives compensation from CFFT (as an officer of CFFT) and from CFF (as an officer of CFF). A. This is a vested contribution to the 457(b) Plan for the reporting period. B. In the event of a CFF bankruptcy, participants are general unsecured creditors of CFF. C. Distributions from the 457(b) Plan may not be rolled-over to an IRA or qualified plan (but may only be rolled-over to another 457(b) plan). D. The 457(b) Plan's design was reviewed and opined upon as reasonable by an independent compensation consultant. An independent actuary developed the contribution formula pursuant to which 457(b) contribution amounts are determined. Contributions to the 457(b) Plan are subject to annual IRS limits (currently $17,500). E. CFF retains the right to amend or terminate the 457(b) Plan at any time. (6) This Plan provides for awards that relate to a three-year performance period, subject to, and based on, achievement of performance objectives established in advance by the Compensation Committee of the Board of Trustees of CFF, a related entity. The individuals participate by virtue of being officers of CFF. However, if an individual also is an officer of CFFT and receives compensation from CFFT, a portion of the individual's award is paid by CFFT. Any financial performance objectives established under the Incentive Compensation Plan do not include program-related revenues (such as royalty streams, lump-sum payments, other
Schedule J (Form 990) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Return Reference Explanation
GOVERNING BODY APPOINTMENTS Part VI, Section A, Line 7a (Page 6 Core Form) The majority of the Organization's board members are designated by the Board of Trustees of the Cystic Fibrosis Foundation. The others are ex_officio, appointed to the Board by the Bylaws.
REVIEW OF 990 BY GOVERNING BODY Part VI, Section B, Line 11b (Page 6 Core Form) The Organization's Board of Directors receives a draft of the Form 990 prior to its being filed, with sufficient time for review and comment allowed. The Organization's ERISA attorneys review the executive compensation sections of the Form 990 to ensure completeness and accuracy. The Audit Committee also reviews the Form 990 as part of its chartered responsibilities. In all cases the Cystic Fibrosis Foundation Therapeutics Board of Directors received a complete copy of the final Form 990 before it is filed.
CONFLICT OF INTEREST MONITORING Part VI, Section B, Line 12c (Page 6 Core Form) A conflict of interest disclosure statement is completed annually by each Board member and officer. As required within the bylaws, any potential conflicts of interest must be reported to the Board as they arise. When any matter is deemed a potential conflict of interest and requires action by the Board of Directors, the interested director or officer is required to retire from the room in which the Board is meeting, may not participate in the final deliberation of the matter, and may not vote on the matter. The Organization enforced the policy during 2014 and had no conflicts of interest as defined by the policy.
DETERMINING COMPENSATION Part VI - Section B - Line 15a and 15b The total compensation of executives at the Organization is specifically designed to attract and retain the highest qualified executive and medical talent to fulfill the critically important mission of curing cystic fibrosis and providing all people with the disease the opportunity to lead full, productive lives. Cystic Fibrosis Foundation Therapeutics, Inc. shares officers with Cystic Fibrosis Foundation, a related organization. The independent Compensation Committee of the CF Foundation's Board of Trustees follows the process described in the IRS intermediate sanctions rules when determining compensation for executives of the Organization. Specifically, the Committee: (1)Is composed entirely of non-employee volunteer directors who have no familial, business or significant personal relationships with the Organization or its executives. (2)Assesses the short-term and long-term contribution and performance of each executive in meeting very definitive and quantifiable objectives focused on the Organization's mission success. (3)Engages an independent compensation consulting firm to compile appropriate comparability data (including compensation market information for peers with whom the Organization competes for executive talent) for Committee reliance. The Committee meets with representatives of the consulting firm to review this data in detail. (4)Reviews all elements of each executive's total compensation, including but not limited to base salary, bonuses, perquisites, fringe benefits, and incentive and deferred compensation arrangements. Upon the executive's hire, and at each point in time thereafter at which a new or revised compensation arrangement is under consideration with respect to the executive, the Committee meets with its independent compensation consulting firm before the arrangement is implemented to evaluate the reasonableness of the arrangement by comparing both the arrangement itself and the executive's entire compensation package to compensation packages paid by similarly situated organizations for functionally comparable positions. (5)Documents, concurrently with its determination, the basis for its determination in the minutes of its meeting. These minutes are reviewed, revised if necessary and approved at the following meeting of the Committee. (6)Obtains a written legal opinion concerning the Committee's compliance with the IRS intermediate sanctions rules. The process described above was used to establish compensation for the following officers of the organization: President & CEO Executive Vice President, COO and Secretary Executive Vice President for Medical Affairs Executive Vice President & CFO The process was last undertaken in 2014.
PUBLIC INSPECTION Part VI, Section C, Line 19 (Page 6 Core Form) The Form 1023 for the Organization was available on its website, CFF.org, and the Organization's website provides a direct link to its Form 990 on Guidestar.org. CFFT's governing documents (Bylaws and Articles of Incorporation) are available upon request by contacting the Organization in writing or by phone. Information on how to obtain the governing documents is available on the website, www.cff.org/Research/CFFT. The Board and Officer Conflict of Interest Policy and the audited consolidated financial statements are available on the website, www.cff.org/Research/CFFT/financialstatements.
COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, ETC PART VII, SECTION A NAME AND TITLE JASON M. ARYEH, DIRECTOR AVG HRS WORKED 3 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION INDIVIDUAL DIRECTOR REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE JONATHAN COHN, M.D., DIRECTOR AVG HRS WORKED 3 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION INDIVIDUAL DIRECTOR REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE CATHERINE C. MCLOUD, DIRECTOR AVG HRS WORKED 3 HRS AVG HRS WORKED - RELATED 11 HRS POSITION INDIVIDUAL DIRECTOR REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE D. PAUL FLESSNER, DIRECTOR AVG HRS WORKED 3 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION INDIVIDUAL DIRECTOR REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE STEVEN SHAK, M.D., DIRECTOR AVG HRS WORKED 3 HRS AVG HRS WORKED - RELATED 6 HRS POSITION INDIVIDUAL DIRECTOR REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE ROBERT J. BEALL, PH.D., PRES/CEO AVG HRS WORKED 20 HRS AVG HRS WORKED - RELATED 40 HRS POSITION INDIVIDUAL DIRECTOR & OFFICER REPORTABLE COMP FROM THE ORG 323,554 REPORTABLE COMP FROM RELATED ORG 650,137 EST. AMT OF OTHER COMP FROM THE ORG 224,033 NAME AND TITLE PRESTON W. CAMPBELL, M.D., EXEC VP OF MEDICAL AFFAIRS AVG HRS WORKED 20 HRS AVG HRS WORKED - RELATED 40 HRS POSITION OFFICER REPORTABLE COMP FROM THE ORG 213,925 REPORTABLE COMP FROM RELATED ORG 432,875 EST. AMT OF OTHER COMP FROM THE ORG 174,822 NAME AND TITLE C. RICHARD MATTINGLY EXEC VP, COO AND SECRETARY AVG HRS WORKED 5 HRS AVG HRS WORKED - RELATED 55 HRS POSITION OFFICER REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG 645,755 EST. AMT OF OTHER COMP FROM THE ORG 189,266 NAME AND TITLE VERA H. TWIGG, EXEC VP & CFO AVG HRS WORKED 5 HRS AVG HRS WORKED - RELATED 55 HRS POSITION OFFICER REPORTABLE COMP FROM THE ORG NONE REPORTABLE COMP FROM RELATED ORG 461,903 EST. AMT OF OTHER COMP FROM THE ORG 85,449 NAME AND TITLE BRUCE MARSHALL, M.D., SR. VP OF CLINICAL AFFAIRS AVG HRS WORKED 50 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION HIGHEST COMPENSATED EMPLOYEE REPORTABLE COMP FROM THE ORG 407,821 REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG 32,120 NAME AND TITLE MARTIN MENSE, PH.D., PRINCIPAL SCIENTIST DRUG DISCOVERY AVG HRS WORKED 50 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION HIGHEST COMPENSATED EMPLOYEE REPORTABLE COMP FROM THE ORG 209,016 REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG 46,258 NAME AND TITLE THEODORE TORPHY, PH.D. HEAD OF RESEARCH STRATEGY AVG HRS WORKED 16 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION HIGHEST COMPENSATED EMPLOYEE REPORTABLE COMP FROM THE ORG 228,800 REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG NONE NAME AND TITLE HERMANN BIHLER, PH.D., SENIOR SCIENTIST AVG HRS WORKED 50 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION HIGHEST COMPENSATED EMPLOYEE REPORTABLE COMP FROM THE ORG 151,229 REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG 13,417 NAME AND TITLE FENG LIANG, PH.D., SR SCIENTIST AVG HRS WORKED 50 HRS AVG HRS WORKED - RELATED NOT APPLICABLE POSITION HIGHEST COMPENSATED EMPLOYEE REPORTABLE COMP FROM THE ORG 137,177 REPORTABLE COMP FROM RELATED ORG NONE EST. AMT OF OTHER COMP FROM THE ORG 37,936 TOTAL REPORTABLE COMP FROM THE ORG 1,671,522 TOTAL REPORTABLE COMP FROM RELATED ORG 2,190,670 TOTAL EST. AMT OF OTHER COMP FROM THE ORG 803,301
PROCEEDS OF SALE OF INTANGIBLE RIGHTS UNDER DRUG DISCOVERY AGREEMENT PART VIII, LINE 2C In its research program, CFFT retains legal and beneficial rights to intellectual property developed under certain scientific grants and drug discovery agreements. Program revenues received under these agreements are recorded when earned. In addition, at times CFFT may transfer intangible rights under certain of these agreements in exchange for a lump sum. Amounts received under these agreements are recorded when rights are forfeited and proceeds are due to CFFT. In November 2014, CFFT entered into an agreement to transfer its intangible rights to future revenues under a drug discovery agreement. Net program revenue from the transaction was $3,274,431,963.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
CYSTIC FIBROSIS FOUNDATION THERAPEUTICS INC
 
Employer identification number

91-2059167
Part I
Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity










Part II
Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1) CYSTIC FIBROSIS FOUNDATION-HEADQUARTERS
6931 ARLINGTON RD

bethesda,MD20814
13-1930701 		research DE 501(c)(3) 7 na
 
 
No
(2) CYSTIC FIBROSIS FOUNDATION - GROUP
6931 ARLINGTON RD

BETHESDA,MD20814
13-6161105 		EDUCATION DE 501(c)(3) 7 CFF-HQ
 
 
No










For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No












Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
 
No
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Cystic fibrosis foundation - headquarters

 B 3,180,372,057 FMV
(2) Cystic fibrosis foundation - headquarters

 N 1,330,603 COST
(3) Cystic fibrosis foundation - headquarters

 O 3,615,373 COST



Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
Schedule R (Form 990) 2014
Additional Data


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