Veterans Bio-Medical Research Institute Inc

Analysis

Veterans Bio-Medical Research Institute Inc is a registered charity in United States, based in East Orange, NJ. It received its IRS tax-exemption ruling in March 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 December 2023, Veterans Bio-Medical Research Institute Inc reported income of $2.4m and spending of $2.6m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.4m (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans Bio-Medical Research Institute Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Governors Scholars Program Inc ($2.4m), Holyoke Community College Foundation Inc ($2.4m) and Bridges of Hope Charitable TR ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $165k (6.4% of expenses). Other salaries and wages came to $501k. At year end it held assets of $913k against liabilities of $286k, net assets of $627k. It reported 37 employees.