Altarum Institute

Analysis

Altarum Institute is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in February 1973, 53 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Altarum Institute reported income of $32.8m and spending of $37.2m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $50.0m to $32.8m (-34%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Altarum Institute sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include American Battlefield TR ($32.7m), Society of Petroleum Engineers Spe Inc ($33.0m) and American Council of Learned Societies ($32.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $3.1m (8.5% of expenses). Other salaries and wages came to $16.7m. At year end it held assets of $59.1m against liabilities of $13.2m, net assets of $45.9m. It reported 240 employees.