Hauptman-Woodward Medical Research Institute Inc

Analysis

Hauptman-Woodward Medical Research Institute Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in December 1957, 69 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Hauptman-Woodward Medical Research Institute Inc reported income of $8.7m and spending of $9.4m, spending 108% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income grew from $5.2m to $8.7m (+67%), an average of +14% a year. The sharpest change came in the year to October 2021, when income rose by 35%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hauptman-Woodward Medical Research Institute Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include North Flight Aero Med ($8.7m), Global Alzheimers Platform Foundation Inc ($8.7m) and Culbertson Froid Bainville Health Care Corporation ($8.7m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 40% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $753k (8.0% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $26.9m against liabilities of $5.3m, net assets of $21.6m. It reported 42 employees.