BIOMEDICAL RESEARCH INSTITUTE OF N… - Form 990 Financial Data

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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

2012

Legal Domicile

Principal Officer

CHRISTOPHER B ECKMAN PH

Phone

9739987210

Tax Period

2024-01-01 to 2024-12-31

BIOMEDICAL RESEARCH INSTITUTE OF NEW JERSEY INC, founded in 2012, is a small nonprofit in the Diseases & Disorders sector that reported $268K in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $391K exceeded revenue, resulting in a 46% operating deficit.

Mission

THE MISSION OF BIOMEDICAL RESEARCH INSTITUTE OF NEW JERSEY, INC. (BRINJ) IS TO ADVANCE MEDICAL KNOWLEDGE THROUGH RESEARCH, DISCOVER NOVEL METHODS FOR DISEASE PREVENTION AND TREATMENT, AND EDUCATE THE NEXT GENERATION OF MEDICAL RESEARCH SCIENTISTS.

Program Service Accomplishments

Program 1

Expenses: $382,095

RESEARCH PROGRAMS: RESEARCH AT BRINJ IS POSSIBLE THANKS TO PUBLIC AND PRIVATE FINANCIAL SUPPORT FROM INDIVIDUAL DONORS, CORPORATIONS, FEDERAL GRANTS, PRIVATE INSTITUTIONS AND OTHERS. TOGETHER, THEY PRESERVE BRINJ DISCOVER AND ADVANCE MEDICAL RESEARCH BY ANSWERING FUNDAMENTAL SCIENTIFIC QUESTIONS TO IMPROVE HEALTH OF PATIENTS SUFFERING FROM DISEASE AND THEY ARE VITAL TO THE SUSTAINABILITY AND GROWTH OF THE INSTITUTE.

Program 2

EDUCATION PROGRAMS: BRINJ IS COMMITTED TO THE TRAINING, EDUCATION AND MENTORSHIP OF THE NEXT GENERATION OF RESEARCH SCIENTISTS AND PHYSICIANS. TO THAT END, BRINJ OFFERS A ROBUST STUDENT RESEARCH...

EDUCATION PROGRAMS: BRINJ IS COMMITTED TO THE TRAINING, EDUCATION AND MENTORSHIP OF THE NEXT GENERATION OF RESEARCH SCIENTISTS AND PHYSICIANS. TO THAT END, BRINJ OFFERS A ROBUST STUDENT RESEARCH PROGRAM FOR HIGH SCHOOL AND BACCALAUREATE STUDENTS DESIGNED TO GIVE STUDENTS EXPOSURE TO A CARRIER IN RESEARCH. IN THIS PROGRAM, YOUNG SCIENTISTS RECEIVE MENTORSHIP FROM PHD AND MD SCIENTISTS IN A REAL LIFE PROFESSIONAL ENVIRONMENT, WORKING ON CUTTING-EDGE RESEARCH. RESEARCH PROJECTS ARE CAREFULLY DESIGNED BY BRINJ'S SCIENTISTS TO PROVIDE HANDS-ON, INDEPENDENT WORK TO STUDENTS, TESTING SCIENTIFIC HYPOTHESIS IN RESEARCH DISCIPLINES WHERE BRINJ'S SCIENTISTS HAVE GAINED EXPERTISE, CREATING A UNIQUE LEARNING EXPERIENCE. YOUNG SCIENTISTS WHO PARTICIPATE IN THESE PROGRAMS GO ON TO PURSUE HIGHER EDUCATION DEGREES IN MEDICINE AND THE BIOMEDICAL SCIENCES AT TOP RANKED UNIVERSITIES IN THE COUNTRY. THIS PROGRAM HAS BEEN SUSPENDED TEMPORARILY DUE TO COVID.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $267,661

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $267,661

Expense Breakdown

Grants Paid $0

Salaries & Benefits $305,842

Fundraising Expenses $0

Program Expenses $382,095

Other Expenses $85,585

TOTAL EXPENSES $391,427

Year-over-Year Comparison

	2024	2023	Change
Revenue	$267,661	$326,881	-0.2%
Expenses	$391,427	$265,730	+0.5%
Net Income	$-123,766	$61,151	-3.0%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

$325,452

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW SCHENKMAN MD	TRUSTEE / MANAGING DIRECTO	5.00	Officer Director	$0	$0	$0
CHRISTOPHER B ECKMAN PHD	TRUSTEE / MANAGING DIRECTO	5.00	Officer Director	$0	$0	$0
LAWRENCE M SKOLNICK MD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL J MADDALONI CPA	TRUSTEE	1.00	Director	$0	$0	$0
DR ELIZABETH ECKMAN	KEY EMPLOYEE	10.00	Key Emp	$0	$50,035	$325,452
CHRIS LEE	HIGHLY COMPENSATED EMPLOYEE	10.00	Highest	$0	$31,296	$165,242

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	$267,661	$391,427	$239,974	$-123,766
2023	$326,881	$265,730	$366,630	$61,151
2022	$312,874	$63,323	$300,195	$249,551
2021	$259,398	$390,886	$53,022	$-131,488
2020	$181,806	$159,033	$184,163	$22,773
2019	$271,733	$257,432	$162,003	$14,301
2018	$342,222	$257,282	$144,774	$84,940

BIOMEDICAL RESEARCH INSTITUTE OF NEW JERSEY INC