Tissue Bank Asbestos Research Charitable Trust

Analysis

Tissue Bank Asbestos Research Charitable Trust is a registered charity in United States, based in Lanham, MD. It received its IRS tax-exemption ruling in July 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Tissue Bank Asbestos Research Charitable Trust reported income of $1.5m and spending of $320k, leaving 79% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.5m (-24%), an average of -6.5% a year. The sharpest change came in the year to December 2020, when income dropped by 25%. Over the whole period it spent 28% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Tissue Bank Asbestos Research Charitable Trust sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include Wellspring Counseling Inc ($1.5m), S P E C T R U M ($1.5m) and Medical Center Alliance ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 79% of the total. At year end it held assets of $11.1m against liabilities of $0, net assets of $11.1m.