INSTITUTE FOR MEDICAL RESEARCH INC

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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

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

THE PURPOSE OF THE INSTITUTE OF MEDICAL RESEARCH, INC. IS TO SUPPORT RESEARCH AND EDUCATION THROUGHOUT THE DURHAM VETERANS AFFAIRS HEALTHCARE SYSTEM TO ENHANCE THE HEALTH AND LIVES OF VETERANS, THEIR FAMILIES AND THE PUBLIC AT LARGE.

Program Service Accomplishments

Program 1

Expenses: $14,556,763 Revenue: $13,676,185

SUPPORTED A MEDICAL TRAINING AND EDUCATION PROGRAM TO SUPPORT THE VA PHARMACOGENOMICS ACTION FOR CANCER SURVIVORSHIP (PHASER). EXPANDED ACCESS TO PHARMACOGENOMIC (PGX) TESTING, INCLUDING PROVIDING...

SUPPORTED A MEDICAL TRAINING AND EDUCATION PROGRAM TO SUPPORT THE VA PHARMACOGENOMICS ACTION FOR CANCER SURVIVORSHIP (PHASER). EXPANDED ACCESS TO PHARMACOGENOMIC (PGX) TESTING, INCLUDING PROVIDING BASIC PGX EDUCATION, TO AN ADDITIONAL 10,000 VETERANS SEEN ACROSS ALL BUT TWO VA HEALTHCARE SYSTEMS NATIONWIDE.

Program 2

SUPPORTED NUMEROUS PROJECTS TO FURTHER AID WITH THE DIAGNOSIS, RISK STRATIFICATION AND LIFESTYLE INTERVENTION FOR THE BENEFIT OF UROLOGY AND ONCOLOGY PATIENTS.

Program 3

ACCOMMODATED CONTINUED GROWTH OF A PROSTATE CANCER PROGRAM TO ADD MULTIPLE PROJECTS, ADDING THOUSANDS OF PATIENTS AND NEW AVENUES OF PATIENT EDUCATION AND POTENTIAL TREATMENT.

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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 $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

Governance

Voting Members

Independent Members

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

$1,288,561

Total Directors

$1,280,135

Key Employees

Highest Compensated

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