BrightFocus was founded in 1973 as The American Health Assistance Foundation by husband and wife team, Janette Michaels and Eugene Michaels as Executive Director and President, respectively. However, the organization was criticized for related party transactions, with over $43 million of them in the eight years ending in 2007. These transactions, which were reported in AHAF's financial statements, resulted from the use of fundraising vendors owned and operated by family members of the Michaels. The criticism muted after the Michaels left AHAF in December 2004, and transactions with firms owned and operated by family members were discontinued in fiscal 2006. In 2012, BrightFocus Foundation partnered with three other nonprofit organizations as the 21st CenturyBrain Trust, which was the runner-up in the Collaborate Activate Innovation Challenge, a competition sponsored by Sanofi US, for the Trust’s work in developing mobile applications that detect early symptoms of Alzheimer’s disease. According to BrightFocus Foundation, an estimated 36 million people suffer from dementia worldwide and the figure is projected to increase to 115 million people by 2050. Effective 1 February 2013 AHAF changed its name to BrightFocus Foundation. The charity selected the new name to better communicate its goals, "to save mind and sight," according to BrightFocus President and CEOStacy Pagos Haller. Its CEO Stacy Pagos Haller receives an annual compensation of $395,786. The Board of Directors includes the Nobel prizeStanley Prusiner and the author Maddy Dychtwald. In 2019, BrightFocus Foundation received $39.4 millions of donations. Since its founding in 1973, BrightFocus Foundation has funded 5,056 scientists in 1,532 research projects for more than $206 millions.
Research programs
BrightFocus Foundation awards grants and produces educational materials through its three research programs, currently funding 174 research projects:
Alzheimer's Disease Research Program, currently funding 95 research projects. The program started in 1985 and has funded research for $120 millions. In 2019, the program has funded 43 new research projects for $10.5 millions.
Macular DegenerationResearch Program, currently funding 43 research projects. The program started in 1999 and has funded research for $26 millions. In 2019, the program has funded 20 new research projects for $3.1 millions.
National Glaucoma Research Program, currently funding 36 research projects. The program started in 1978 and has funded research for $33 millions. In 2019, the program has funded 13 new research projects for $2.5 millions.
Awards and recognition
In 2013, BrightFocus Foundation earned a Seal of Excellence from the Maryland Association of Nonprofit Organizations, which requires organizations to go through a rigorous application process to certify that they are well-run and worthy of public trust.
Charity assessment
In 2019, 78% of expenses went to medical research and public education, 16% to fundraising and 6% to administrative expenses. In 2018, the annual compensation of the President/CEO was $395,786. The BrightFocus Foundation has a rating of 3 stars from Charity Navigator, with an overall score of 82.58/100 for financial, accountability and transparency.
