Huntington Medical Research Institutes
- Assets
- $70.1m
- Revenue
- $9.0m
- Investments
- $4.2m
- Employees
- 80
- Location
- Pasadena, CA
- Founding
- 03/1954
- Data as of
- 09/2022
- EIN
- 95-1757119
Organization Overview
Huntington Medical Research Institutes is located in Pasadena, CA. The organization was established in 1954. According to its NTEE Classification (H90) the organization is classified as: Medical Disciplines Research, under the broad grouping of Medical Research and related organizations. As of 09/2023, Huntington Medical Research Institutes employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Huntington Medical Research Institutes 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 09/2022, Huntington Medical Research Institutes generated $9.0m 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 (4.7%) each year. All expenses for the organization totaled $13.6m during the year ending 09/2022. 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
HMRI CONDUCTS GROUNDBREAKING BIOMEDICAL RESEARCH AND INSPIRES THE NEXT GENERATION OF SCIENTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HMRI IS A PIONEER IN SCIENTIFIC RESEARCH, WITH A 70-YEAR TRACK RECORD OF GROUNDBREAKING DISCOVERIES THAT HAVE CHANGED THE WORLD, FROM SEATBELTS TO LIFESAVING DIAGNOSTIC TECHNOLOGY SUCH AS THE MRI. HMRI'S MISSION IS TO CONDUCT GROUNDBREAKING BIOMEDICAL RESEARCH AND TO INSPIRE THE NEXT GENERATION OF SCIENTISTS. TODAY, HRMI'S WORK IS FOCUSED ON BIOMEDICAL RESEARCH PROGRAMS THAT INVESTIGATE DISEASES OF THE HEART AND BRAIN SUCH AS ALZHEIMER'S DISEASE, HEART ATTACKS, AND THE BIOLOGICAL BASIS OF MENTAL ILLNESS. IN 2022/23, HMRI RESEARCHERS PUBLISHED SCIENTIFIC PAPERS IN PEER REVIEWED JOURNALS, SERVED ON EDITORIAL BOARDS AND SCIENTIFIC ADVISORY BOARDS, AND PRESENTED THEIR WORK AT MAJOR MEDICAL RESEARCH CONFERENCES.MAJOR ACCOMPLISHMENTS DURING THE YEAR INCLUDED MONTHLY SEMINARS THAT ARE OPEN TO THE PUBLIC THAT COVER TIMELY MEDICAL AND RESEARCH TOPICS, QUARTERLY COMMUNITY EDUCATION EVENTS, AND HOSTING MORE THAN 40 HIGH SCHOOL STUDENTS, COLLEGE STUDENTS, AND POST-DOCTORAL FELLOWS LEARNING ABOUT RESEARCH UNDER THE MENTORSHIP OF OUR SCIENTISTS IN OUR EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan E Kane Board Chair | OfficerTrustee | 2 | $0 |
James D Gamb Immediate Past Chair | OfficerTrustee | 2 | $0 |
John Babcock Vice Chair | OfficerTrustee | 2 | $0 |
Alexandra Levine Board Member | Trustee | 2 | $0 |
C Joseph Chang Board Member | Trustee | 2 | $0 |
Cameron Boswell Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dlc Accounting Services | 9/29/23 | $1,195,590 |
Cmbs Computer Consulting Services | 9/29/23 | $264,291 |
Harbor Building Maintenance Janitorial Services | 9/29/23 | $155,971 |
Moss Adams Llp Audit & Tax Accounting Services | 9/29/23 | $126,300 |
Healthcore Research Services | 9/29/23 | $303,816 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,903,198 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,971,836 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,875,034 |
| Total Program Service Revenue | $1,137,364 |
| Investment income | $1,315,640 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,256 |
| Net Rental Income | $194,316 |
| Net Gain/Loss on Asset Sales | $465,480 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,027,604 |
| 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. | $1,097,625 |
| Compensation of current officers, directors, key employees. | $662,434 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,322,322 |
| Pension plan accruals and contributions | $597,617 |
| Other employee benefits | $481,548 |
| Payroll taxes | $292,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,793,971 |
| Fees for services: Accounting | $98,128 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,998 |
| Fees for services: Other | $1,237,898 |
| Advertising and promotion | $0 |
| Office expenses | $1,053,748 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $665,905 |
| Travel | $70,867 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,441,073 |
| Insurance | $283,101 |
| All other expenses | $0 |
| Total functional expenses | $13,625,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,686,352 |
| Pledges and grants receivable | $5,157,705 |
| Accounts receivable, net | $385,085 |
| 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 | $147,917 |
| Net Land, buildings, and equipment | $32,165,263 |
| Investments—publicly traded securities | $23,126,304 |
| Investments—other securities | $4,216,838 |
| Investments—program-related | $0 |
| Intangible assets | $205,420 |
| Other assets | $0 |
| Total assets | $70,090,884 |
| Accounts payable and accrued expenses | $1,473,168 |
| Grants payable | $0 |
| Deferred revenue | $3,634 |
| 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 | $636,560 |
| Total liabilities | $2,113,362 |
| Net assets without donor restrictions | $45,946,671 |
| Net assets with donor restrictions | $22,030,851 |
| 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 | $70,090,884 |