Biomedical Research Foundation of Southern Arizona

Analysis

Biomedical Research Foundation of Southern Arizona is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in October 1991, 35 years ago. 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 Foundation of Southern Arizona reported income of $238k and spending of $448k, spending 188% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $860k to $238k (-72%), an average of -28% a year. The sharpest change came in the year to September 2022, when income dropped by 57%. Over the whole period it spent 151% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Biomedical Research Foundation of Southern Arizona sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within AZ. Charities of a similar size with the same main cause include Little League Baseball Inc ($238k), Meals on Wheels of the College Park Area Inc ($238k) and Fayetteville Volunteer Fire Department Relief Association Inc ($238k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 7.8% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $112k (25% of expenses). Other salaries and wages came to $216k. At year end it held assets of $383k against liabilities of $79k, net assets of $304k. It reported 13 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.