INSTITUTE FOR MEDICAL RESEARCH INC

EIN: 561655431 501(c)(3)

DURHAM, NC

Total Revenue
$13,751,223
Total Expenses
$16,492,767
Total Assets
$11,133,168
Net Assets
$9,010,591
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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
NC
Principal Officer
CAROL MEYER
Phone
9842507013
Tax Period
2024-10-01 to 2025-09-30

INSTITUTE FOR MEDICAL RESEARCH INC, founded in 1989, is a mid-sized nonprofit that reported $13.8M in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $16.5M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO SUPPORT RESEARCH AND EDUCATION THROUGHOUT THE DURHAM VETERANS AFFAIRS HEALTH CARE SYSTEM.

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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 $0
Program Service Revenue $13,676,185
Investment Income $68,190
Other Revenue $6,848
TOTAL REVENUE $13,751,223

Expense Breakdown

Grants Paid $0
Salaries & Benefits $13,466,462
Fundraising Expenses $0
Program Expenses $14,556,763
Other Expenses $3,026,305
TOTAL EXPENSES $16,492,767

Year-over-Year Comparison

2024 2023 Change
Revenue $13,751,223 $22,414,622 -0.4%
Expenses $16,492,767 $19,158,995 -0.1%
Net Income $-2,741,544 $3,255,627 -1.8%
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
7
Independent Members
3
Employees
285
Volunteers
N/A

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
5
$1,288,561
Total Directors
7
$1,280,135
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LIANA PUSCAS MD SECRETARY/TR 2.00
Officer Director
$0 $0 $427,457
KENNETH GOLDBERG MD VICE PRESIDE 2.00
Officer Director
$0 $0 $344,385
DAVID EDELMAN MD PRESIDENT 5.00
Officer Director
$0 $0 $279,588
ALYSHIA SMITH DNP DIRECTOR 2.00
Director
$0 $0 $228,705
AMANDA DE HOEDT RESEARCH DIR 40.00
Highest
$172,072 $0 $172,072
CAROL MEYER EXEC DIR 40.00
Officer
$149,979 $0 $149,979
ERIKA WILLIAMSON TECH SOL MGR 40.00
Highest
$146,188 $0 $146,188
JENNIFER G CHAPMAN PHASER PM 40.00
Highest
$142,018 $0 $142,018
MICHAEL T BURNS DIR OF TECH 40.00
Highest
$138,699 $0 $138,699
KRISTINA N SIGMON SR BIOSTATIS 40.00
Highest
$131,158 $0 $131,158
NIRMA ACOSTA CFO 40.00
Officer
$87,152 $0 $87,152
MICHAEL HOFFPAUIR DIRECTOR 2.00
Director
$0 $0 $0
BRIAN LETOURNEAU DIRECTOR 2.00
Director
$0 $0 $0
DENNIS SHIPMAN DIRECTOR 2.00
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 $13,751,223 $16,492,767 $11,133,168 $-2,741,544
2024 $22,414,622 $19,158,995 $13,954,317 $3,255,627
2023 $20,756,676 $15,766,250 $13,072,926 $4,990,426
2022 $7,876,347 $9,947,872 $5,835,101 $-2,071,525
2021 $5,925,427 $6,883,169 $6,550,784 $-957,742
2020 $7,292,928 $5,629,067 $7,517,969 $1,663,861
2019 $4,460,316 $4,663,221 $6,448,401 $-202,905
2018 $4,924,328 $4,081,326 $5,680,290 $843,002
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