Asheville Medical Research Corporation

Analysis

Asheville Medical Research Corporation is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in June 1991, 35 years ago. Its declared purposes cover health care, 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 September 2023, Asheville Medical Research Corporation reported income of $99k and spending of $86k, spending 87% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $124k to $99k (-20%), an average of -5.4% a year. The sharpest change came in the year to September 2021, when income dropped by 27%. Over the whole period it spent 109% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Asheville Medical Research Corporation sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 34th percentile within NC. Charities of a similar size with the same main cause include 24th Street Inc ($99k), Autism Healthcare Collaborative Inc ($99k) and Developmental Movement Project Inc ($99k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $22k (26% of expenses). Other salaries and wages came to $45k. At year end it held assets of $156k against liabilities of $1,995, net assets of $154k. It reported 2 employees.