The Cystic Fibrosis Foundation, a 501(c)(3) nonprofit organization, has unrestricted financial reserves of about 11 times its 2025 operating budget. These reserves are largely a result of the Foundation's successful venture philanthropy model, through which we have raised and invested hundreds of millions of dollars to help discover and develop breakthrough CF therapies. These funds and any future revenue from our model are reinvested into the CF Foundation's mission to cure cystic fibrosis and to provide all people with CF the opportunity to lead long, fulfilling lives. To obtain a copy of our latest Annual Report, visit https://www.cff.org/about-us/annual-reports-and-financials, email info@cff.org or call 1-800-FIGHT-CF.