Institute for Myeloma and Bone Cancer Research

Analysis

Institute for Myeloma and Bone Cancer Research is a registered charity in United States, based in W Hollywood, CA. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover diseases, disorders and medical disciplines, 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 December 2023, Institute for Myeloma and Bone Cancer Research reported income of $1.1m and spending of $1.3m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $585k to $1.1m (+96%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 355%. Over the whole period it spent 126% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Institute for Myeloma and Bone Cancer Research sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Corporate Angel Network Inc ($1.1m), World Molecular Imaging Society ($1.1m) and Community Memorial Healthcare Foundation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 22% of the total. Other salaries and wages came to $245k. At year end it held assets of $845k against liabilities of $3.1m, net assets of -$2.3m. It reported 5 employees.