Benaroya Research Institute at Virginia Mason

Analysis

Benaroya Research Institute at Virginia Mason is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 1958, 68 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 June 2023, Benaroya Research Institute at Virginia Mason reported income of $82.5m and spending of $83.3m, spending 101% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $73.3m to $82.5m (+13%), an average of +3.0% a year. The sharpest change came in the year to June 2022, when income rose by 151%. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Benaroya Research Institute at Virginia Mason sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within WA. Charities of a similar size with the same main cause include Bryan Physician Network ($82.4m), Ucare Foundation ($82.5m) and Carilion Franklin Memorial Hospital ($82.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $1.4m (1.6% of expenses). Other salaries and wages came to $24.8m. At year end it held assets of $94.4m against liabilities of $42.7m, net assets of $51.6m. It reported 353 employees.