Michael Reese Research and Education Foundation

Analysis

Michael Reese Research and Education Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1991, 35 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 August 2023, Michael Reese Research and Education Foundation reported income of $2.5m and spending of $2.7m, spending 110% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $2.9m to $2.5m (-14%), an average of -3.6% a year. The sharpest change came in the year to August 2021, when income rose by 39%. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Michael Reese Research and Education Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Nami Keystone Pennsylvania ($2.5m), Gift of Life Inc ($2.5m) and Foundation for Health Care Quality ($2.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 56% of the total. Compensation of current officers, directors and key employees was $220k (8.1% of expenses). Other salaries and wages came to $308k. At year end it held assets of $15.2m against liabilities of $2.4m, net assets of $12.8m. It reported 7 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.