Overview
What is Buffalo Institute For Medical Research Inc?
Buffalo Institute for Medical Research Inc is a nonprofit organization situated in Buffalo, New York. Its primary objective is to support the research mission of the Department of Veterans' Affairs by conducting biomedical research and related activities. The institute's mission revolves around medical research, involving investigations, experiments, and studies to uncover, develop, or validate knowledge relating to physical diseases and impairments. Various research programs and initiatives are employed to achieve this aim. The organization's work is instrumental in advancing medical knowledge and is based in Buffalo, NY.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Buffalo Institute For Medical Research Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that there are significant areas for improvement. The overall score of 64% reflects challenges in governance, notably with only 28% of board members being independent and a low number of independent board members overall. While the organization has a solid audit and oversight process and receives full points for its conflict of interest and whistleblower policies, the lack of independent oversight raises concerns about its accountability.
Strengths include a high program expense ratio of 82.33%, demonstrating a commitment to allocating resources towards its mission. However, the organization faces serious issues in financial transparency, as it has not made its tax forms available on its website, which is a notable shortcoming. Additionally, the liabilities to assets ratio is concerning at 101.66%, indicating potential financial instability.
In summary, the Buffalo Institute For Medical Research Inc needs to address its governance structure and improve financial transparency to enhance its rating and foster greater trust among potential donors. The organization's existing strengths in program expenses and policies suggest it is on the right track but must prioritize these areas for improvement to better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Buffalo Institute For Medical Research Inc legitimate?
Buffalo Institute For Medical Research Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Buffalo Institute For Medical Research Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $70,720
Professional Fundraising Fees: $0
Other Salaries and Wages: $263,171
For more financial information, click here
What is the mission statement of Buffalo Institute For Medical Research Inc?
The Buffalo Institute for Medical Research Inc is dedicated to furthering the research mission of the Department of Veterans Affairs. Their primary focus is on facilitating biomedical research and related activities. This involves conducting investigations, experiments, and studies aimed at enhancing our understanding of physical diseases and impairments. They achieve this through various research programs and initiatives. The organization's work is geared towards discovering, developing, or verifying knowledge in the field of medicine.
Who is the CEO of Buffalo Institute For Medical Research Inc?
Michael J Swartz is the Principal Officer of Buffalo Institute For Medical Research Inc.
What is the revenue of Buffalo Institute For Medical Research Inc?
Buffalo Institute For Medical Research Inc's revenue in 2022 was $922,100.
Who are the executives of Buffalo Institute For Medical Research Inc and what are their salaries?
The average compensation at Buffalo Institute For Medical Research Inc during 2022 was $23,849. There are 14 employees at Buffalo Institute For Medical Research Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $199,300
- Other: $59,790
- Compensation: $0
- Related: $288,725
- Other: $86,618
- Compensation: $0
- Related: $353,522
- Other: $106,057
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $220,166
- Other: $66,050
- Compensation: $0
- Related: $310,534
- Other: $93,160
- Compensation: $70,720
- Related: $0
- Other: $7,072
Where can I find the form 990 for Buffalo Institute For Medical Research Inc?
Buffalo Institute For Medical Research Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Buffalo Institute For Medical Research Inc
The Buffalo Institute for Medical Research is committed to furthering the research mission of the Department of Veterans' Affairs. They accomplish this by promoting biomedical research and related activities. The primary focus of their mission is medical research, involving investigations, experiments, and studies aimed at uncovering, developing, or verifying knowledge related to physical diseases and impairments. This is achieved through various research programs and initiatives, which are designed to advance medical understanding and potentially lead to new treatments or therapies. By facilitating this research, the Buffalo Institute for Medical Research plays a pivotal role in contributing to the improvement of health and wellbeing, particularly in the veteran community.
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Impact
October, 2024
Buffalo Institute for Medical Research Inc significantly advances the research mission of the Department of Veteran's Affairs by facilitating critical biomedical research and related activities. Its core focus on medical research encompasses a wide range of investigations, experiments, and studies aimed at understanding, discovering, and verifying knowledge about physical diseases and impairments that affect veterans.
Through various research programs and initiatives, the institute contributes to the development of innovative solutions and therapies that enhance the health and well-being of veterans. By fostering collaboration and supporting rigorous scientific inquiry, Buffalo Institute plays a vital role in generating insights that can lead to improved medical practices and treatment options, ultimately benefiting not only veterans but also the broader community. Located in Buffalo, NY, the institute serves as a hub for research excellence and innovation in the field of veteran healthcare.
This information is meant to be a general summary of Buffalo Institute For Medical Research Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $20
- Program Service Revenue: $724,326
- Gross Receipts: $922,100
Assets and Liabilities:
- Total Assets: $771,265
- Total Liabilities: $728,079
- Net Assets: $43,186
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESEARCH CONTRACTS & G
Revenue
$542,283
FEDERAL SUBCONTRACTS
Revenue
$182,043
Organization Details
Founding Year
1990
Phone
(716) 862-6528Principal Officer
Michael J Swartz
Main Address
3495 BAILEY AVENUE, BUFFALO, NY, 14215
NTEE Category
Code: H92 - Medical research
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