Miami Heart Research Institute Inc

Analysis

Miami Heart Research Institute Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Miami Heart Research Institute Inc reported income of $3.3m and spending of $2.2m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $3.3m (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2020, when income rose by 56%. Over the whole period it spent 62% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Miami Heart Research Institute Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Jewish Federation of Nashville & Middle Tennessee ($3.3m), Ewtn Religious Catalogue Inc ($3.4m) and Coalition of Homeless Services Providers ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.2% of the total. Compensation of current officers, directors and key employees was $266k (12% of expenses). Other salaries and wages came to $114k. At year end it held assets of $68.8m against liabilities of $938k, net assets of $67.8m. It reported 3 employees.