Fund for Medical Research and Education

Analysis

Fund for Medical Research and Education is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1982, 44 years ago. 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 September 2023, Fund for Medical Research and Education reported income of $8.7m and spending of $4.4m, leaving 49% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $14.9m to $8.7m (-42%), an average of -13% a year. The sharpest change came in the year to September 2020, when income dropped by 46%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fund for Medical Research and Education sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Women Religious Archives Collaborative ($8.7m), Foothill AIDS Project ($8.7m) and Mount Carmel Care Center Inc ($8.7m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 88% of the total. At year end it held assets of $40.3m against liabilities of $43.6m, net assets of -$3.3m.