Howard Hughes Medical Institute

Analysis

Howard Hughes Medical Institute is a registered charity in United States, based in Chevy Chase, MD. It received its IRS tax-exemption ruling in March 1957, 69 years ago. Its declared purposes cover medical research, 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 August 2023, Howard Hughes Medical Institute reported income of $749.0m and spending of $1.15bn, spending 153% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.41bn to $749.0m (-47%), an average of -15% a year. The sharpest change came in the year to August 2023, when income dropped by 65%. Over the whole period it spent 65% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Howard Hughes Medical Institute sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MD. Charities of a similar size with the same main cause include Hartford Health Care Corporation ($748.1m), South Nassau Communities Hospital ($760.6m) and Munson Medical Center ($746.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.3% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $15.1m (1.3% of expenses). Other salaries and wages came to $333.2m. At year end it held assets of $25.89bn against liabilities of $1.72bn, net assets of $24.18bn. It reported 2,419 employees.