Narrows Institute of Biomedical Research Inc

Analysis

Narrows Institute of Biomedical Research Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 1991, 35 years ago. 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 September 2023, Narrows Institute of Biomedical Research Inc reported income of $3.8m and spending of $3.7m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.5m to $3.8m (+9.8%), an average of +2.4% a year. The sharpest change came in the year to September 2021, when income rose by 35%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Narrows Institute of Biomedical Research Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Northern California Volleyball Association ($3.8m), Young Mens Christian Association Sanford-Springvale ($3.8m) and Tiny Tots Development Center ($3.8m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $115k (3.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $2.3m against liabilities of $1.3m, net assets of $984k. It reported 32 employees.