Multiple Myeloma Research Foundation Receives A+ Rating from American Institute of Philanthropy

New Canaan, Conn. — August 23, 2005
Only Cancer-Related Charity to Achieve Top Designation in AIP's New Charity Rating Guide

The Multiple Myeloma Research Foundation (MMRF) announced today that it received an "A+" rating from the American Institute of Philanthropy (AIP), a nonprofit, independent information service that researches and evaluates efficiency, accountability and governance of non-profit organizations. The AIP issues the Charity Rating Guide three times a year to inform the public about how 500 national charities spend their money.

"We are proud to have received this grade from the AIP, as it is a reflection of our culture of fiscal responsibility that is carried throughout our organization -- from our board of directors to staff and volunteers," said Kathy Giusti, founder and chief executive officer of the MMRF. "We also pride ourselves on the fact that we rapidly put our fundraising dollars to work through funding ongoing myeloma research."

The "A+" designation is the highest rating from the AIP, indicating that an organization spends $35 or less to raise $100 and places more than 60 percent of its fundraising efforts towards program implementation. In the new report, the MMRF was the only cancer-related charity and one of three health-related charities to receive this designation.

"The main reason why we received AIP's highest designation is because we only spend $3 to raise $100 and more than 94 percent of the money we raise goes towards research and related programming," said Scott T. Santarella, executive director of the MMRF. "Like our founder, the MMRF is all about efficiency, which is the driving force in our efforts to expedite the development of new and effective treatment options for multiple myeloma."

In addition to the "A+" designation from the AIP, the MMRF also has recently received a four-star rating from Charity Navigator for its exceptional fiscal management and is in compliance with all of the Better Business Bureau's Wise Giving Alliance standards for charity accountability. Additionally, the MMRF has earned approval from the National Cancer Institute (NCI) for its research grants program, making it only one of nine private, charitable research organizations that meets the same rigorous scientific standards the NCI applies to its own grant issuing process.

About Multiple Myeloma

The second most common hematologic (blood) cancer, multiple myeloma, which affects the plasma cell, represents one percent of all cancer diagnosis and two percent of all cancer deaths. Despite recent advances in treating myeloma, the five-year survival rate for multiple myeloma is only 32 percent.

Approximately 46,000 people in the United States are living with multiple myeloma and an estimated 14,600 new cases are diagnosed each year. Although the peak age of onset of multiple myeloma is 65 to 70 years of age, recent statistics suggest that incidence is increasing and at an earlier age.

About the Multiple Myeloma Research Foundation

The Multiple Myeloma Research Foundation (MMRF) was established in 1998 as a 501(c)3 non-profit organization by twin sisters Karen Andrews and Kathy Giusti, a newly diagnosed multiple myeloma patient, with the unique mission of accelerating the search for a cure for multiple myeloma. Today, the MMRF is the largest non-profit foundation dedicated to the single mission of accelerating the search for a cure for multiple myeloma. As the world's number one funder of myeloma research, the MMRF has raised from than $50 million to fund more than 140 research grants at 57 research institutions around the globe. Currently, the MMRF is funding more than 20 new compounds and approaches - in pre-clinical testing and Phase I, II and III clinical trials - that show promise in treating patients at all stages of the disease. For more information about the MMRF, please visit www.themmrf.org.

For more information, contact:
Scott Santarella
Multiple Myeloma Research Foundation

Jennifer Bryda