Richmond Institute For Veterans Research
- Assets
- $15.8m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 74
- Location
- Richmond, VA
- Founding
- 05/1991
- Data as of
- 12/2023
- EIN
- 54-1522206
Organization Overview
Richmond Institute For Veterans Research is located in Richmond, VA. The organization was established in 1991. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2023, Richmond Institute For Veterans Research employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Institute For Veterans Research 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 12/2023, Richmond Institute For Veterans Research generated $5.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. While expenses have increased by 5.5% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEDICAL RESEARCH, EDUCATION AND PATIENT CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RICHMOND INSTITUTE FOR VETERANS RESEARCH (RIVR) IS A 501(C)(3)/509(A)(3)ORGANIZATION FORMED TO SUPPORT RESEARCH, EDUCATION, AND PATIENT CARE IN THE RICHMOND VA MEDICAL CENTER. RIVR SUPPORTS OVER 100 VA APPROVED RESEARCH PROJECTS. INVESTIGATORS FOCUS THEIR EFFORTS ON CARRYING OUT STUDIES TO DEVELOP AND VERIFY KNOWLEDGE RELATING TO THE CAUSES, DIAGNOSES, TREATMENT, AND PREVENTION OF DISEASE. INVESTIGATORS PUBLISH SCIENTIFIC ARTICLES AND PRESENT THEM AT SCIENTIFIC MEETINGS.
INSTITUTIONAL REVIEW BOARD IS AN INDEPENDENT BOARD THAT REVIEWS PROPOSOSED STUDIES TO ENSURE THAT THERE ARE ADEQUATE SAFEGUARDS FOR HUMAN SUBJECT PROTECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Ronald Johnson Director | Trustee | 3 | $0 |
Lenore N Joseph MD Director | Trustee | 3 | $0 |
Anthony J Minisi MD Director | Trustee | 3 | $0 |
Mary Farrell Director | Trustee | 3 | $0 |
Michael Godschalk MD Director | Trustee | 3 | $0 |
Michael Pandak MD Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,801,696 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,059,170 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,860,866 |
| Total Program Service Revenue | $94,974 |
| Investment income | $710,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $5,678,794 |
| 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. | $248,316 |
| Compensation of current officers, directors, key employees. | $124,158 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,794,787 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $230,431 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $76,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $107,488 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,215 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,488 |
| Insurance | $17,442 |
| All other expenses | $240,285 |
| Total functional expenses | $4,389,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,244,230 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $285,782 |
| 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 | $5,548 |
| Net Land, buildings, and equipment | $155,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $99,214 |
| Total assets | $15,789,906 |
| Accounts payable and accrued expenses | $139,223 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $99,214 |
| Total liabilities | $238,437 |
| Net assets without donor restrictions | $3,904,355 |
| Net assets with donor restrictions | $11,647,114 |
| 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 | $15,789,906 |