LOVELACE BIOMEDICAL RESEARCH INSTI… - 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

1965

Legal Domicile

Principal Officer

SALOMON AMAR

Phone

5053489361

Tax Period

2024-07-01 to 2025-06-30

LOVELACE BIOMEDICAL RESEARCH INSTITUTE, founded in 1965, is a mid-sized nonprofit in the Medical Research sector that reported $83.4M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Net assets of $207.2M represent 30 months of operating reserves.

Mission

THE LOVELACE BIOMEDICAL RESEARCH INSTITUTE (LBRI) IS A PRIVATE, BIOMEDICAL RESEARCH ORGANIZATION DEDICATED TO IMPROVING PUBLIC HEALTH THROUGH RESEARCH ON THE PREVENTION, DIAGNOSIS, TREATMENT AND CURE OF DISEASES. LBRI IS DEDICATED TO THE DISCOVERY AND ADVANCEMENT OF CLINICAL SOLUTIONS FOR PREVENTION, DIAGNOSIS, TREATMENT AND CURING DISEASES THROUGH RESEARCH. THE RESEARCH IS AIMED AT UNDERSTANDING THEIR CAUSES AND BIOLOGICAL MECHANISMS; ASSESSING AND ELIMINATING EXPOSURES TO RESPIRATORY, NEUROLOGICAL AND OTHER HEALTH HAZARDS; MENTAL ILLNESS; TRAUMATIC BRAIN INJURY AND OTHER BRAIN DISORDERS; AND DEVELOPING IMPROVED THERAPEUTICS, VACCINES, AND DIAGNOSTICS. LBRI IS BASED IN ALBUQUERQUE, NEW MEXICO.

Program Service Accomplishments

Program 1

Expenses: $77,084,856 Revenue: $63,041,316

MEDICAL RESEARCH AND EDUCATIONAL ACTIVITY IN THE AREAS OF BASIC BIOMEDICAL RESEARCH, HEALTH AND POPULATION STUDIES, INCLUDING RESPIRATORY DISEASES SUCH AS ASTHMA, COPD, ALLERGY AND TOXIC EFFECTS OF ENVIRONMENTAL FACTORS. ADDITIONAL AREAS INCLUDE NEUROLOGIC CONDITIONS SUCH AS TRAUMATIC BRAIN INJURY, ADDICTION AND PSYCHOPATHY.

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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 $12,194,618

Program Service Revenue $63,041,316

Investment Income $5,409,527

Other Revenue $2,751,580

TOTAL REVENUE $83,397,041

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,722,912

Fundraising Expenses $0

Program Expenses $77,084,856

Other Expenses $49,021,784

TOTAL EXPENSES $87,744,696

Year-over-Year Comparison

	2024	2023	Change
Revenue	$83,397,041	$91,209,797	-0.1%
Expenses	$87,744,696	$91,486,502	0.0%
Net Income	$-4,347,655	$-276,705	+14.7%

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

495

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

$3,715,527

Total Directors

$2,453,233

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN KADISH	PRESIDENT AND CHAIRMAN OF THE BOARD	2.00	Officer Director	$0	$121,813	$1,387,128
MATTHEW F BONILLA	SPECIAL APPOINTEE	2.00	Director	$0	$47,831	$380,864
JANE DELGADO	DIRECTOR	2.00	Director	$0	$0	$0
WANDA HERNANDEZ	SPECIAL APPOINTEE (THRU 9/23/24)	2.00	Director	$0	$0	$0
NICHOLAS S JANIGA	SPECIAL APPOINTEE	2.00	Director	$0	$71,226	$426,623
JACKIE LOVELACE JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
JOSPEH D MARK	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES MATTIELLO	SPECIAL APPOINTEE	2.00	Director	$0	$25,447	$258,618
LAWRENCE D PLATT	DIRECTOR	2.00	Director	$0	$0	$0
MARGARET RETTER	DIRECTOR	2.00	Director	$0	$0	$0
ZVIGMOND RYZMAN	DIRECTOR	2.00	Director	$0	$0	$0
SHANNON L TOMA	EXEC VP, COO, CFO	40.00	Officer	$705,999	$64,070	$770,069
ROBERT W RUBIN PHD	CEO (THROUGH 5/31/25)	38.00	Officer	$782,222	$63,292	$845,514
SALOMON AMAR	CEO (STARTING 6/1/25)	38.00	Officer	$0	$71,238	$712,816
STEVEN A BELINSKY	VP, ACADEMIC RESEARCH/SR SCIENTIST	40.00	Highest	$395,524	$40,460	$435,984
PHILLIP KUEHL	SR. DIR., PRECLINICAL DRUG DEVELOPMENT	40.00	Highest	$296,621	$32,016	$328,637
MELANIE DOYLE-EISELE	SR. DIRECTOR OF LIFE SCIENCES	40.00	Highest	$295,478	$38,944	$334,422
DAVID M FLANDERS	VP, HUMAN RESOURCES	40.00	Highest	$289,027	$34,754	$323,781
KENT KIEHL	EXECUTIVE SCIENCE OFFICER	40.00	Highest	$334,368	$41,570	$375,938

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	$83,397,041	$87,744,696	$255,478,512	$-4,347,655
2024	$91,209,797	$91,486,502	$256,421,032	$-276,705
2023	$112,131,523	$94,680,185	$259,201,284	$17,451,338
2022	$71,507,956	$66,188,457	$184,740,544	$5,319,499
2021	$89,255,628	$80,362,730	$189,542,168	$8,892,898
2020	$76,388,415	$74,188,991	$159,558,180	$2,199,424
2018	$17,520,714	$15,989,123	$62,218,262	$1,531,591

LOVELACE BIOMEDICAL RESEARCH INSTITUTE