Research Update

Analysis

Research Update is a registered charity in United States, based in Humble, TX. It received its IRS tax-exemption ruling in November 2020, 6 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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 December 2023, Research Update reported income of $770k and spending of $381k, leaving 51% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $334k to $770k (+130%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 95%. Over the whole period it spent 42% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Research Update sits at the 61st percentile: it is larger than about 61% 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 Body of Christ Community Clinic Inc ($770k), Changing Echoes Inc ($770k) and Mount Nittany Health System ($770k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $60k (16% of expenses). At year end it held assets of $1.0m against liabilities of $8,489, net assets of $1.0m.