INDIANA INSTITUTE FOR MEDICAL RESEARCH INC

EIN: 351781809 501(c)(3) Medical Research

INDIANAPOLIS, IN

Total Revenue
$1,134,304
Total Expenses
$1,626,361
Total Assets
$1,852,852
Net Assets
$1,737,571
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
IN
Principal Officer
TIMOTHY RAMSEY
Phone
3179889544
Tax Period
2024-01-01 to 2024-12-31

INDIANA INSTITUTE FOR MEDICAL RESEARCH INC, founded in 1989, is a community nonprofit in the Medical Research sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $1.6M exceeded revenue, resulting in a 43% operating deficit.

Mission

TO PROMOTE THE RESEARCH AND EDUCATIONAL MISSION OF THE RICHARD L. ROUDEBUSH VA MEDICAL CENTER IN INDIANAPOLIS, INDIANA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,089,735
Program Service Revenue $0
Investment Income $44,569
Other Revenue $0
TOTAL REVENUE $1,134,304

Expense Breakdown

Grants Paid $0
Salaries & Benefits $590,272
Fundraising Expenses $0
Program Expenses $997,166
Other Expenses $1,036,089
TOTAL EXPENSES $1,626,361

Year-over-Year Comparison

2024 2023 Change
Revenue $1,134,304 $1,382,989 -0.2%
Expenses $1,626,361 $1,493,633 +0.1%
Net Income $-492,057 $-110,644 +3.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
11
Volunteers
8

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$180,412
Total Directors
9
$1,462,278
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID MATHEWS MD DIRECTOR 0.50
Director
$0 $104,355 $439,735
ERIC BOSS MD DIRECTOR 0.50
Director
$0 $86,045 $373,412
MICHAEL HERSHMAN DIRECTOR 0.50
Director
$0 $50,777 $234,667
SUTHAT LIANGPUNSAKUL MD DIRECTOR 0.50
Director
$0 $54,502 $234,052
TIMOTHY RAMSEY EXECUTIVE DI 40.00
Officer Director
$180,412 $0 $180,412
ELIZABETH VERHAGEN ASSOC DIR/CO 40.00
Highest
$157,724 $0 $157,724
MARY HARDEN CHAIRMAN/SEC 0.50
Officer Director
$0 $0 $0
TOM SHARP MD DIRECTOR 0.50
Director
$0 $0 $0
JOHN MERRIWEATHER DIRECTOR 0.50
Director
$0 $0 $0
JAMES MOHLER PHD DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,134,304 $1,626,361 $1,852,852 $-492,057
2023 $1,382,989 $1,493,633 $2,309,587 $-110,644
2022 $1,489,124 $1,630,771 $2,410,876 $-141,647
2021 $1,140,954 $1,239,302 $2,711,887 $-98,348
2020 $839,762 $1,040,532 $2,759,555 $-200,770
2019 $953,710 $856,800 $2,947,514 $96,910
2018 $627,043 $525,879 $2,725,195 $101,164
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