Biomedical Research Institute of New Mexico

Analysis

Biomedical Research Institute of New Mexico is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in December 1989, 37 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 September 2023, Biomedical Research Institute of New Mexico reported income of $6.6m and spending of $6.3m, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $5.5m to $6.6m (+19%), an average of +4.4% a year. The sharpest change came in the year to September 2021, when income rose by 28%. Over the whole period it spent 110% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Biomedical Research Institute of New Mexico sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within NM. Charities of a similar size with the same main cause include Pqa Inc ($6.6m), Kauai Region Healthcare Enterprises ($6.6m) and BHP Services ($6.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 8.3% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $113k (1.8% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $18.2m against liabilities of $9.3m, net assets of $8.8m. It reported 52 employees.