Umb Health Sciences Research Park Corporation

Analysis

Umb Health Sciences Research Park Corporation is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Umb Health Sciences Research Park Corporation reported income of $3.4m and spending of $1.9m, leaving 44% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $3.4m (-8.7%), an average of -2.3% a year. The sharpest change came in the year to June 2023, when income rose by 78%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Umb Health Sciences Research Park Corporation 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 89th percentile within MD. Charities of a similar size with the same main cause include Northern Illinois Electrical Joint Apprenticeship and Training Trust ($3.4m), Western Reserve Community Fund Inc ($3.4m) and Brewery Development Co of Jamaica Plain ($3.4m).

Compensation of current officers, directors and key employees was $192k (10% of expenses). At year end it held assets of $17.6m against liabilities of $1.2m, net assets of $16.4m. It reported 1 employees.