Sanford Laboratories for Innovative Medicines

Analysis

Sanford Laboratories for Innovative Medicines is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Sanford Laboratories for Innovative Medicines reported income of $12.5m and spending of $3.9m, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $2.0m to $12.5m (+526%), an average of +526% a year. The sharpest change came in the year to December 2023, when income rose by 526%. Over the whole period it spent 27% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sanford Laboratories for Innovative Medicines sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Florida Studio Theatre Inc ($12.5m), National Links Trust ($12.5m) and Historic Arnolds Park Inc ($12.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $349k (8.9% of expenses). Other salaries and wages came to $886k. At year end it held assets of $26.1m against liabilities of $15.5m, net assets of $10.6m. It reported 22 employees.