The Morris L Lichtenstein Jr Medical Research Foundation

Analysis

The Morris L Lichtenstein Jr Medical Research Foundation is a registered charity in United States, based in Corp Christi, TX. It received its IRS tax-exemption ruling in April 2024, 2 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 private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, The Morris L Lichtenstein Jr Medical Research Foundation reported income of $769k and spending of $982k, spending 128% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.1m to $769k (-32%), an average of -9.3% a year. The sharpest change came in the year to July 2021, when income dropped by 30%. Over the whole period it spent 140% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Morris L Lichtenstein Jr Medical Research Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Lawrence Public Library Foundation ($768k), Finn Church Aid USA Inc ($769k) and Islander Sports Foundation ($768k).

Compensation of current officers, directors and key employees was $79k (8.0% of expenses). Other salaries and wages came to $94k. At year end it held assets of $12.2m against liabilities of $1,468, net assets of $12.2m. It reported 6 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.