Iowa City Va Medical Research Foundation

Analysis

Iowa City Va Medical Research Foundation is a registered charity in United States, based in Iowa City, IA. It received its IRS tax-exemption ruling in February 1998, 28 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Iowa City Va Medical Research Foundation reported income of $669k and spending of $914k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $930k to $669k (-28%), an average of -7.9% a year. The sharpest change came in the year to December 2021, when income rose by 376%. Over the whole period it spent 130% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Iowa City Va Medical Research Foundation sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 77th percentile within IA. Charities of a similar size with the same main cause include Asheville-Buncombe Institute of Parity Achievement ($669k), Interventional Orthopedics Foundation ($669k) and Tracy S Residential Re-Entry Center Inc ($668k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $148k (16% of expenses). Other salaries and wages came to $259k. At year end it held assets of $1.3m against liabilities of $777k, net assets of $520k. It reported 6 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.