Open Medicine Foundation Inc

Analysis

Open Medicine Foundation Inc is a registered charity in United States, based in Agoura Hills, CA. It received its IRS tax-exemption ruling in February 2013, 13 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 December 2023, Open Medicine Foundation Inc reported income of $6.1m and spending of $6.3m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $6.1m (+41%), an average of +9.0% a year. The sharpest change came in the year to December 2023, when income rose by 52%. 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, Open Medicine Foundation Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Tazwood Mental Health Center Inc ($6.1m), House of Hope Inc ($6.1m) and Champlain Valley Family Center for Drug Treatment & Youth Services in ($6.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $775k (12% of expenses). Other salaries and wages came to $232k. At year end it held assets of $7.8m against liabilities of $3.2m, net assets of $4.6m. It reported 6 employees.