Institute for Medical Research Inc

Analysis

Institute for Medical Research Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in December 1989, 37 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 September 2023, Institute for Medical Research Inc reported income of $20.8m and spending of $15.8m, leaving 24% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.5m to $20.8m (+365%), an average of +47% a year. The sharpest change came in the year to September 2023, when income rose by 164%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Institute for Medical Research Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Bellevue Christian School ($20.8m), Mount Carmel College of Nursing ($20.8m) and Tampa Bay Workforce Alliance Inc ($20.8m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $190k (1.2% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $13.1m against liabilities of $4.6m, net assets of $8.4m. It reported 155 employees.