Baim Institute For Clinical Research Inc
- Assets
- $26.4m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 84
- Location
- Boston, MA
- Founding
- 12/2003
- Data as of
- 09/2023
- EIN
- 04-3521077
Organization Overview
Baim Institute For Clinical Research Inc is located in Boston, MA. The organization was established in 2003. According to its NTEE Classification (H05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Medical Research and related organizations. As of 09/2023, Baim Institute For Clinical Research Inc employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baim Institute For Clinical Research Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Baim Institute For Clinical Research Inc generated $13.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $13.3m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (11.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE IN AND FACILITATE SCIENTIFIC AND MEDICAL RESEARCH.
Describe the Organization's Program Activity:
CLINICAL TRIAL SERVICES - DESIGN AND COORDINATE CLINICAL TRIALS, MANAGE THE CONDUCT OF THE TRIALS AND PERFORM ANALYSIS OF THE CLINICAL TRIAL RESULTS FOR ACADEMIC, PUBLISHING AND FDA SUBMISSION AND REVIEW PURPOSES.
ACADEMIC SUPPORT - BAIM PROVIDES FINANCIAL SUPPORT FOR RESEARCHERS ASSOCIATED WITH VARIOUS ORGANIZATIONS, INCLUDING BETH ISRAEL DEACONESS MEDICAL CENTER, WHICH ALSO SERVES AS ONE OF BAIM'S MEMBERS, BRIGHAM AND WOMEN'S HOSPITAL, MASSACHUSETTS GENERAL HOSPITAL, AND BOSTON UNIVERSITY, FOR DESIGNING AND CONDUCTING CLINICAL RESEARCH AND FOR TRAINING AND ACADEMIC ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gibson MD Michael Trustee (ex-Officio), President | OfficerTrustee | 30 | $450,000 |
Zeidel MD Mark L Ttee Exoff;bidmc Medchf/hmfp Med Chr | OfficerTrustee | 1 | $0 |
Szabo MD PHD Hon Scd Gyongyi Ttee (ex-Off); (cao, Bidmc & Bilh) | Trustee | 1 | $0 |
Gerszten MD Robert Ttee (exoff)(chief,bidmc Cardio Med) | Trustee | 1 | $0 |
Freedman MD Steven Ttee, Chair; Gastro, Bidmc | OfficerTrustee | 1 | $0 |
Agnew Meghan Ttee (ex Officio) & Treas; Cfo, Hfmp | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Icon Clinical Research Sarl Pass-through Cost For Clinical Studies | 9/29/23 | $1,098,951 |
Harvard Med Fac Phys At Bidmc Salary And Benefits For Academic Leaders | 9/29/23 | $309,555 |
Mednet Solutions Inc Electronic Data Capt For Clin. Studies | 9/29/23 | $212,440 |
Brigham And Women's Hospital Inc Pass-through Cost For Clinical Studies | 9/29/23 | $185,425 |
Pacific Clinical Research Group Pty Ltd Pass-through Cost For Clinical Studies | 9/29/23 | $171,035 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,017,966 |
| Investment income | $276,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $242,124 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,536,792 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $874,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,311,452 |
| Pension plan accruals and contributions | $228,553 |
| Other employee benefits | $433,410 |
| Payroll taxes | $509,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $185,483 |
| Fees for services: Accounting | $84,329 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,215,717 |
| Advertising and promotion | $0 |
| Office expenses | $5,749 |
| Information technology | $977,636 |
| Royalties | $0 |
| Occupancy | $1,162,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,950 |
| Insurance | $143,241 |
| All other expenses | $0 |
| Total functional expenses | $13,305,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,404,514 |
| Savings and temporary cash investments | $51,582 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,991,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $367,850 |
| Net Land, buildings, and equipment | $161,135 |
| Investments—publicly traded securities | $11,090,729 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,358,704 |
| Total assets | $26,425,573 |
| Accounts payable and accrued expenses | $1,274,088 |
| Grants payable | $0 |
| Deferred revenue | $4,814,365 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,791,590 |
| Total liabilities | $10,880,043 |
| Net assets without donor restrictions | $15,545,530 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $26,425,573 |