Lundquist Institute for Biomedical Innovation at Harbor-Ucla Medical

Analysis

Lundquist Institute for Biomedical Innovation at Harbor-Ucla Medical is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in January 1954, 72 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, Lundquist Institute for Biomedical Innovation at Harbor-Ucla Medical reported income of $91.6m and spending of $99.2m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $93.6m to $91.6m (-2.1%), an average of -0.7% a year. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lundquist Institute for Biomedical Innovation at Harbor-Ucla Medical sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Bronson Lakeview Hospital ($91.6m), Santa Rosa Community Health Centers ($91.6m) and Cossma Inc ($91.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $3.1m (3.1% of expenses). Other salaries and wages came to $42.4m. At year end it held assets of $169.7m against liabilities of $87.8m, net assets of $81.8m. It reported 768 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.