Biomedical Research Foundation Medical Research 151
- Assets
- $1.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 26
- Location
- Little Rock, AR
- Founding
- 09/1989
- Data as of
- 12/2022
- EIN
- 71-0675830
Organization Overview
Biomedical Research Foundation Medical Research 151 is located in Little Rock, AR. The organization was established in 1989. According to its NTEE Classification (H92) the organization is classified as: Biomedicine & Bioengineering Research, under the broad grouping of Medical Research and related organizations. As of 12/2022, Biomedical Research Foundation Medical Research 151 employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biomedical Research Foundation Medical Research 151 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 12/2022, Biomedical Research Foundation Medical Research 151 generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE THE RESEARCH AND EDUCATION MISSION OF THE DEPARTMENT OF VETERANS AFFAIRS BY SUPPORTING RESEARCH RELATED ACTIVITIES AT THE JOHN L. MCCLELLAN MEMORIAL VETERANS HOSPITAL IN LITTLE ROCK, ARKANSAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTED BOTH CLINICAL AND BASIC RESEARCH PROJECTS DESIGNED TO BETTER TREAT AND UNDERSTAND HUMAN DISEASES. THESE RESEARCH EFFORTS WERE FOCUSED ON THOSE OF THE VETERAN POPULATION. APPROXIMATELY 30 STUDIES AT THE VA MEDICAL CENTER WERE SUPPORTED THROUGH FOUNDATION FUNDING. THOSE PROJECTS FOCUSED MAINLY IN THE AREAS OF CARDIOVASCULAR, VASCULAR, RENAL FUNCTION, HYPERTENSION, PTSD, AND AGING. MULTIPLE PEER REVIEW PUBLICATIONS WERE SUBMITTED FOR PUBLICATION ORIGINATING FROM THE STUDIES' RESULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Gocio President | OfficerTrustee | 1 | $0 |
Margie Scott Director | Trustee | 1 | $0 |
Erica Hiett Director | Trustee | 1 | $0 |
Shanna Palmer Director | Trustee | 1 | $0 |
Richard Owen Vice Preside | OfficerTrustee | 1 | $0 |
Alan Wolfman Executive Di | Officer | 40 | $127,161 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,989 |
| 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 | $3,989 |
| Total Program Service Revenue | $1,214,351 |
| Investment income | $3,781 |
| 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 | $1,219,275 |
| 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. | $127,161 |
| Compensation of current officers, directors, key employees. | $127,161 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $844,776 |
| Pension plan accruals and contributions | $18,062 |
| Other employee benefits | $918 |
| Payroll taxes | $74,849 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,725 |
| Fees for services: Accounting | $13,603 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,467 |
| Advertising and promotion | $1,578 |
| Office expenses | $10,476 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $281 |
| Travel | $25,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,873 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,507 |
| Insurance | $11,321 |
| All other expenses | $1,889 |
| Total functional expenses | $1,281,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $790,544 |
| Savings and temporary cash investments | $185,676 |
| Pledges and grants receivable | $302,833 |
| Accounts receivable, net | $0 |
| 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 | $2,294 |
| Net Land, buildings, and equipment | $24,619 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,305,966 |
| Accounts payable and accrued expenses | $101,055 |
| 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 | $0 |
| Total liabilities | $101,055 |
| Net assets without donor restrictions | $1,149,911 |
| Net assets with donor restrictions | $55,000 |
| 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 | $1,305,966 |