Michigan Neonatal Biobank

Analysis

Michigan Neonatal Biobank is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover diseases, disorders and medical disciplines, 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 September 2023, Michigan Neonatal Biobank reported income of $223k and spending of $314k, spending 141% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $314k to $223k (-29%), an average of -8.2% a year. The sharpest change came in the year to September 2023, when income dropped by 28%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Michigan Neonatal Biobank sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within MI. Charities of a similar size with the same main cause include Tacoma Orthopedic Association 18-528902 ($223k), American Society of Podiatric Surgeons Inc ($223k) and Madison Community Hospital Foundation Inc ($223k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $71k (23% of expenses). At year end it held assets of $201k against liabilities of $0, net assets of $201k.