Overview
What is Gear Research Institute?
Gear Research Institute is a distinguished research center situated in State College, Pennsylvania. Its primary focus is on conducting cooperative, precompetitive research within the medical discipline. This collaborative approach allows the institution to delve into fundamental studies, contributing to advancements in various fields without competing with other organizations. The center's mission is dedicated to fostering a shared knowledge base, ultimately benefiting the broader scientific community.
Official website here: www.gearresearch.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating
The Gear Research Institute has earned a 77% rating from Charity Navigator, reflecting its commitment to accountability and finance. This rating is based entirely on the Accountability & Finance beacon, which indicates that the organization meets a number of important financial practices. The institute has shown strong governance with an independent board and has effectively prioritized program expenses over administrative costs.
Strengths highlighted in the review include a fully independent board with a majority of independent members, a solid financial review process, and comprehensive policies concerning conflict of interest and document retention. The organization has maintained a high program expense ratio of 97.85%, indicating that a substantial portion of its funding is directed toward its programs rather than administrative expenses.
However, the review also points out some limitations, particularly the absence of a whistleblower policy, which could be a concern for transparency and accountability. Additionally, while the organization has a high liabilities to assets ratio of 86.76%, this could suggest challenges in financial stability that need consideration. Overall, while Gear Research Institute demonstrates strong financial practices, addressing the noted limitations could further enhance its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Gear Research Institute legitimate?
Gear Research Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gear Research Institute 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.
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Official website here: www.gearresearch.org
What is the mission statement of Gear Research Institute?
The Gear Research Institute is dedicated to conducting cooperative, precompetitive (fundamental) research in its field. This mission is centered around collaborative efforts to advance knowledge and understanding in the relevant discipline, without the focus on competitive applications. This research is fundamental in nature, aiming to contribute to the overall progress and development of the field.
Official website here: www.gearresearch.org
What is the revenue of Gear Research Institute?
Gear Research Institute's revenue in 2024 was $1,177,611.
Official website here: www.gearresearch.org
Who are the executives of Gear Research Institute and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.gearresearch.org
Where can I find the form 990 for Gear Research Institute?
Gear Research Institute's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.gearresearch.org
Learn more at the official website: www.gearresearch.org
Mission Statement of Gear Research Institute
Gear Research Institute, a renowned medical discipline research center, is devoted to cooperative precompetitive research. This mission signifies that the institution collaborates with various entities to conduct fundamental research, working together without the intent to gain a competitive edge. The primary goal is to advance knowledge and understanding in the field of medical research, contributing to the broader scientific community. By engaging in cooperative precompetitive research, Gear Research Institute aims to foster innovation and drive progress in the medical field, ultimately benefiting society as a whole.
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Impact
July, 2024
Gear Research Institute's impact lies in advancing medical research through cooperative precompetitive (fundamental) research. Located in State College, PA, the institute focuses on developing innovative solutions and discoveries in the field of medical disciplines. Through its collaborative approach, Gear Research Institute contributes to the collective knowledge and progress of medical research, ultimately benefitting the healthcare industry and society as a whole.
This information is meant to be a general summary of Gear Research Institute. 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 2024.
- Investment Income: $38,286
- Program Service Revenue: $1,139,325
- Gross Receipts: $1,177,611
Assets and Liabilities:
- Total Assets: $2,533,325
- Total Liabilities: $2,228,467
- Net Assets: $304,858
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FUNDAMENTAL RESEARCH &
Revenue
$595,618
AEROSPACE INDUSTRY RES
Revenue
$538,157
Organization Details
Founding Year
1982
Principal Officer
Chad Behrman
Website
www.gearresearch.orgNTEE Category
Code: H90 - Medical research
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