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Heritage Medical Research Institute

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 550839353 ✦ Marina del rey, CA ✦ Designated as a 501(c)(3)

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Overview

What is Heritage Medical Research Institute?

The Heritage Medical Research Institute is a nonprofit organization based in Marina Del Rey, California, specifically located at 3115 Ocean Front Walk Suite 301. Their primary focus lies in medical research, particularly in the fields of congestive heart failure and obstructive pulmonary diseases. They collect and connect research data to patient outcomes under various treatment methodologies, with a mission to identify and implement innovative approaches and methodologies to diagnose, treat, and manage diseases. By doing so, they aim to relieve suffering, improve outcomes, reduce costs, and increase the overall value and accessibility of healthcare to a greater number of people than previously thought possible. They operate in conjunction with non-profit hospitals and function under the highest ethical and medical standards.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 56% (One-Star out of Four Stars)

Heritage Medical Research Institute has received a One-Star rating from Charity Navigator due to its low overall score of 56%. Significant concerns arise from the lack of independent board members, which is critical for ensuring unbiased governance. Furthermore, the organization has not made essential financial statements publicly available, raising questions about transparency and accountability.

On a positive note, the institute demonstrates a commendable program expense ratio of 92.76%, indicating that a significant portion of its funds is directed toward its research programs. Additionally, the organization has established policies related to document retention and board meeting minutes, reflecting some level of operational structure. However, the absence of a conflict of interest policy and a whistleblower policy could pose risks to its governance practices.

Overall, while Heritage Medical Research Institute appears to allocate a high percentage of its budget toward its programs, its governance structure and lack of transparency are notable weaknesses. Prospective donors and supporters may want to consider these factors when evaluating their support for the organization.


This AI summary has been generated from information found on Charity Navigator.

Is Heritage Medical Research Institute legitimate?

Heritage Medical Research Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage Medical 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.


Heare are some key statistics you may want to consider:

Executive Compensation: $236,078
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Heritage Medical Research Institute?

The Heritage Medical Research Institute is dedicated to advancing medical research in the realms of basic and clinical science. Their ultimate goal is to identify and implement innovative approaches and methodologies to diagnose, treat, and manage various diseases. By adhering to the highest ethical and medical standards, they aim to relieve suffering, improve outcomes, reduce costs, and increase the overall value and accessibility of healthcare to a larger population than previously thought possible. The institute's mission prioritizes translational research, which bridges the gap between scientific discovery and real-world applications, ultimately leading to better patient care.

Who is the CEO of Heritage Medical Research Institute?

Dr Richard Merkin is the President of Heritage Medical Research Institute.

What is the revenue of Heritage Medical Research Institute?

Heritage Medical Research Institute's revenue in 2022 was $12,358,037.

Who are the executives of Heritage Medical Research Institute and what are their salaries?

The average compensation at Heritage Medical Research Institute during 2022 was $236,078. There is 1 employee at Heritage Medical Research Institute.


Here are 3 key members and their salaries:


Dr Richard Merkin (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jaya Kurian (Cfo)
  • Compensation: $0
  • Related: $0
  • Other: $0
Matthew Suess (Research Associate)
  • Compensation: $236,078
  • Related: $0
  • Other: $0
Where can I find the form 990 for Heritage Medical Research Institute?

Heritage Medical Research Institute's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Heritage Medical Research Institute

Heritage Medical Research Institute, a leading non-profit organization, is dedicated to advancing medical research in the realms of basic and clinical science. The institute's mission lies in identifying and implementing innovative approaches and methodologies to diagnose, treat, and manage various diseases, all under the highest ethical and medical standards. By doing so, Heritage Medical Research Institute aims to alleviate suffering, improve outcomes, reduce costs, and increase the overall value and accessibility of healthcare to a greater number of people than previously thought possible.

With a commitment to making a significant impact on the healthcare landscape, Heritage Medical Research Institute's researchers and scientists work tirelessly to uncover new discoveries and develop groundbreaking solutions. Their pursuit of knowledge in the fields of medical science is driven by a deep-rooted passion to transform the lives of countless individuals who are facing health challenges. The institute's research covers a broad spectrum, touching upon various diseases and conditions, with the ultimate goal of providing relief and enhancing the quality of life for those in need.

In pursuit of its mission, Heritage Medical Research Institute operates under a strong ethical framework that prioritizes the well-being of its research subjects and the integrity of its findings. The organization's rigorous research standards ensure that every discovery made is valid, reliable, and applicable to the larger healthcare community. In this way, Heritage Medical Research Institute has become a trusted partner in the non-profit hospital community, contributing to advancements that ultimately benefit patients and healthcare providers alike.

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Impact




October, 2024

Heritage Medical Research Institute significantly advances the field of medical research, particularly focusing on congestive heart failure and obstructive pulmonary disease. By collecting and analyzing hospital admission and outcome data, the Institute facilitates a deeper understanding of patient responses to various treatment methodologies. This research enables the identification and implementation of innovative approaches to diagnosis, treatment, and disease management.

The impact of this work is multifaceted. It not only aims to relieve patient suffering but also strives to improve clinical outcomes, thereby enhancing the overall quality of healthcare. Additionally, by focusing on reducing costs and increasing accessibility, the Institute seeks to make high-quality medical care available to a broader population than ever before.

Through its commitment to the highest ethical and medical standards, Heritage Medical Research Institute plays a crucial role in supporting and advancing translational research. This approach bridges the gap between basic and clinical science, allowing for the rapid application of research findings to real-world healthcare challenges. Ultimately, the Institute’s efforts contribute to significant improvements in healthcare delivery, benefiting patients, healthcare providers, and the healthcare system as a whole.




This information is meant to be a general summary of Heritage Medical 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.

Revenue
$12,358,037 (2022)
Expenses
$8,121,488 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $5,202,716
  • Gross Receipts: $13,690,559

Assets and Liabilities:

  • Total Assets: $224,317,324
  • Total Liabilities: $1,569,060
  • Net Assets: $222,748,264

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Organization Details

Founding Year

2003

Principal Officer

Dr Richard Merkin

Main Address

3115 OCEAN FRONT WALK SUITE 301, MARINA DEL REY, CA, 90292

NTEE Category

Code: H43 - Medical research

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