Wichita Medical Research & Education Foundation

Analysis

Wichita Medical Research & Education Foundation is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in June 1962, 64 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3).

In the financial year ending December 2023, Wichita Medical Research & Education Foundation reported income of $311k and spending of $389k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $649k to $311k (-52%), an average of -17% a year. The sharpest change came in the year to December 2022, when income dropped by 51%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wichita Medical Research & Education Foundation sits at the 61st percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within KS. Charities of a similar size with the same main cause include Desert Reign Inc ($311k), Boy Scouts of America ($311k) and Morro Bay Guerilla Gardening Club ($311k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $154k (40% of expenses). At year end it held assets of $7.0m against liabilities of $80k, net assets of $6.9m. It reported 2 employees.