New Mexico Bioscience Authority

Analysis

New Mexico Bioscience Authority is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Mexico Bioscience Authority reported income of $516k and spending of $358k, leaving 31% of income unspent that year. Across the 4 years on record, from June 2020 to June 2024, income grew from $368k to $516k (+40%), an average of +12% a year. The sharpest change came in the year to June 2024, when income rose by 74%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Mexico Bioscience Authority sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within NM. Charities of a similar size with the same main cause include Union City Pride Incorporated ($516k), Up Community Impact Fund Corp ($517k) and Conway Center for Family Business ($516k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $193k. At year end it held assets of $313k against liabilities of $358k, net assets of -$45k.