Medstar Health Research Institute Inc

Analysis

Medstar Health Research Institute Inc is a registered charity in United States, based in Columbia, MD. It received its IRS tax-exemption ruling in September 1964, 62 years ago. 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 June 2023, Medstar Health Research Institute Inc reported income of $52.8m and spending of $63.3m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $36.1m to $52.8m (+46%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Medstar Health Research Institute Inc 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 99th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include Northeast Kingdom Human Services Inc ($52.7m), Affinia Healthcare ($52.8m) and Society of Photo Optical Instrumentation Engineer ($52.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.9% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $1.7m (2.7% of expenses). Other salaries and wages came to $36.3m. At year end it held assets of $40.7m against liabilities of $10.3m, net assets of $30.5m. It reported 426 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.