Cleveland Va Medical Research and Education Foundation

Analysis

Cleveland Va Medical Research and Education Foundation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in May 1995, 31 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cleveland Va Medical Research and Education Foundation reported income of $4.4m and spending of $4.8m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.8m to $4.4m (-8.5%), an average of -2.2% a year. Over the whole period it spent 109% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cleveland Va Medical Research and Education Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Ronald McDonald House Charities of South Florida Inc ($4.4m), Valley Health Systems Inc ($4.4m) and No Baby Blisters ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $126k (2.6% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $4.0m against liabilities of $762k, net assets of $3.2m. It reported 56 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.