Heritage Medical Research Institute

Analysis

Heritage Medical Research Institute is a registered charity in United States, based in Bakersfield, CA. It received its IRS tax-exemption ruling in February 2004, 22 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 June 2023, Heritage Medical Research Institute reported income of $1.8m and spending of $7.3m, spending 410% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.0m to $1.8m (-9.5%), an average of -2.5% a year. The sharpest change came in the year to June 2020, when income rose by 3780%. Over the whole period it spent 28% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Heritage Medical Research Institute sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Proton Collaborative Group Inc ($1.8m), Solutions Recovery Inc ($1.8m) and Lowcountry Pregnancy Center ($1.8m).

Compensation of current officers, directors and key employees was $252k (3.5% of expenses). At year end it held assets of $222.5m against liabilities of $265k, net assets of $222.3m. It reported 1 employees.