Musc Foundation for Research Development

Analysis

Musc Foundation for Research Development is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in January 1997, 29 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Musc Foundation for Research Development reported income of $5.1m and spending of $4.5m, spending 88% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.5m to $5.1m (+44%), an average of +7.6% a year. The sharpest change came in the year to June 2023, when income rose by 85%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Musc Foundation for Research Development sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Americus & Sumter County Hospital Authority ($5.1m), Ossining Volunteer Ambulance Corps Inc ($5.1m) and Helping Hand Foundation ($5.1m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $781k (17% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.7m against liabilities of $2.1m, net assets of $2.7m. It reported 9 employees.