Augusta Biomedical Research Corporation

Analysis

Augusta Biomedical Research Corporation is a registered charity in United States, based in Augusta, GA. It received its IRS tax-exemption ruling in May 1991, 35 years ago. 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 December 2023, Augusta Biomedical Research Corporation reported income of $346k and spending of $356k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $298k to $346k (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2023, when income rose by 332%. Over the whole period it spent 126% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Augusta Biomedical Research Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 68th percentile within GA. Charities of a similar size with the same main cause include Oregon Association of Minority Entrepreneurs ($346k), San Diego Figure Skating Club ($346k) and Mahtomedi Soccer Association ($346k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $70k (20% of expenses). Other salaries and wages came to $149k. At year end it held assets of $348k against liabilities of $61k, net assets of $287k. It reported 4 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.