Lovelace Biomedical Research Institute

Analysis

Lovelace Biomedical Research Institute is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in October 1969, 57 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 June 2023, Lovelace Biomedical Research Institute reported income of $112.1m and spending of $94.7m, spending 84% of its income. Across the 5 years on record, from September 2019 to June 2023, income grew from $18.9m to $112.1m (+492%), an average of +56% a year. The sharpest change came in the year to September 2020, when income rose by 304%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lovelace Biomedical Research Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NM. Charities of a similar size with the same main cause include Blythedale Childrens Hospital ($112.0m), Michigan Health Endowment Fund ($112.3m) and Riverside Community Care Inc ($111.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $2.5m (2.6% of expenses). Other salaries and wages came to $19.4m. At year end it held assets of $259.2m against liabilities of $51.9m, net assets of $207.3m. It reported 503 employees.