Midwest Cardiovascular Research Foundation

Analysis

Midwest Cardiovascular Research Foundation is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Midwest Cardiovascular Research Foundation reported income of $1.6m and spending of $1.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.6m (+53%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 28%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Midwest Cardiovascular Research Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within IA. Charities of a similar size with the same main cause include Headington Institute ($1.6m), Addario Lung Cancer Medical Institute ($1.6m) and Freedom Institute Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $224k (15% of expenses). Other salaries and wages came to $514k. At year end it held assets of $2.0m against liabilities of $1.4m, net assets of $681k. It reported 16 employees.