INDIANA INSTITUTE FOR MEDICAL RESEARCH INC

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

INDIANAPOLIS, IN

Total Revenue
$1,036,657
Total Expenses
$1,441,523
Total Assets
$1,464,798
Net Assets
$1,358,129
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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
2025-01-01 to 2025-12-31

INDIANA INSTITUTE FOR MEDICAL RESEARCH INC, founded in 1989, is a community nonprofit in the Medical Research sector that reported $1.0M in total revenue in fiscal year 2025. Revenue decreased 9% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 39% operating deficit.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $869,169 Revenue: $319,034

INDIANA INSTITUTE FOR MEDICAL RESEARCH SUPPORTS THE NEEDS OF INVESTIGATORS INVOLVED WITH RESEARCH PROJECTS THROUGH THE RICHARD L. ROUDEBUSH VA MEDICAL CENTER.

Program 2
Expenses: $46,087 Revenue: $72,453

INDIANA INSTITUTE FOR MEDICAL RESEARCH SUPPORTS FACULTY, STAFF, AND PATIENT EDUCATION AT THE RICHARD L. ROUDEBUSH VA MEDICAL CENTER.

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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 (2025)

Revenue Breakdown

Contributions & Grants $612,195
Program Service Revenue $391,487
Investment Income $32,975
Other Revenue $0
TOTAL REVENUE $1,036,657

Expense Breakdown

Grants Paid $0
Salaries & Benefits $921,575
Fundraising Expenses $0
Program Expenses $915,256
Other Expenses $519,948
TOTAL EXPENSES $1,441,523

Year-over-Year Comparison

2025 2024 Change
Revenue $1,036,657 $1,134,304 -0.1%
Expenses $1,441,523 $1,626,361 -0.1%
Net Income $-404,866 $-492,057 -0.2%
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
13
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
$184,091
Total Directors
9
$1,491,593
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 $106,442 $448,530
ERIC BOSS MD DIRECTOR 0.50
Director
$0 $87,766 $380,881
MICHAEL HERSHMAN DIRECTOR 0.50
Director
$0 $51,792 $239,359
SUTHAT LIANGPUNSAKUL MD DIRECTOR 0.50
Director
$0 $55,592 $238,732
TIMOTHY RAMSEY EXECUTIVE DI 40.00
Officer Director
$184,091 $0 $184,091
JARED FERGUSON ASSOC. DIR. 40.00
Highest
$147,013 $0 $147,013
MARY HARDEN CHAIRMAN/SEC 0.50
Officer Director
$0 $0 $0
THOMAS 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
2025 $1,036,657 $1,441,523 $1,464,798 $-404,866
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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