Biomedical Research and Innovation Park

Analysis

Biomedical Research and Innovation Park is a registered charity in United States, based in Monroe, LA. It received its IRS tax-exemption ruling in January 2022, 4 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 organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Biomedical Research and Innovation Park reported income of $212k and spending of $124k, leaving 42% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.2m to $212k (-82%), an average of -57% a year. The sharpest change came in the year to December 2023, when income dropped by 90%. Over the whole period it spent 10% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Biomedical Research and Innovation Park sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within LA. Charities of a similar size with the same main cause include Bear Project Inc ($212k), Waukegan Regional Air Show ($212k) and West Line Corridor Collaborative ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% of the total. At year end it held assets of $3.1m against liabilities of $17k, net assets of $3.1m.