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

1989

Legal Domicile

Principal Officer

Brent Wagner

Phone

5052565467

Tax Period

2023-10-01 to 2024-09-30

Biomedical Research Institute of New Mexico, founded in 1989, is a community nonprofit in the Medical Research sector that reported $8.2M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $7.8M left a modest 4% surplus.

Mission

To promote high quality scientific research and education improving healthcare, medical treatment, and quality of life for our nation's veterans and, ultimately, the general public.

Program Service Accomplishments

Program 1

Expenses: $6,811,399

RETAINED APPROVAL OF 35% OH RATE FROM DHHS. CONTINUED INCREASE IN INFRASTRUCTURE FOR CLINICAL TRIALS TO PROVIDE LEADING EDGE MEDICINE TO THE VETERANS. PERSIST WITH A PLAN TO DIVEST THE CSP BUILDING FROM BRINM OWNERSHIP. CONTINUED TO SERVE AS FLEXIBLE FUNDING MECHANISM FOR PROJECTS INCLUDING RESEARCH INTO OPIATE ADDICTION, LONG TERM PHENTERMINE TRIAL, STROKE PREVENTION, LOWERING LIPID LEVELS IN OLDER ADULTS, AND MUCH MORE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $721,804

Program Service Revenue $6,927,153

Investment Income $501,274

Other Revenue $330

TOTAL REVENUE $8,150,561

Expense Breakdown

Grants Paid $154

Salaries & Benefits $3,540,057

Fundraising Expenses $0

Program Expenses $6,811,399

Other Expenses $4,308,419

TOTAL EXPENSES $7,848,630

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,150,561	$6,572,325	+0.2%
Expenses	$7,848,630	$6,276,312	+0.3%
Net Income	$301,931	$296,013	+0.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Melissa Van Raden	Software Developer	40.0	Highest	$131,706	$0	$131,706
Rachel Archuleta	Software Developer	40.0	Highest	$128,487	$0	$128,487
Lisa Gallegos	HR Admin	40.0	Highest	$127,033	$0	$127,033
Jennifer Hogan	Executive Director	40.0	Highest	$126,405	$0	$126,405
Krishna Poddar	Software Developer	40.0	Highest	$115,983	$0	$115,983
Matthew Campen	Non-Statutory Director	1.0	Director	$0	$0	$0
Todd Connor	Non-Statutory Director	1.0	Director	$0	$0	$0
Curt Hagedorn	Statutory Director	1.0	Director	$0	$0	$0
Darra Kingsley	Statutory Director	1.0	Director	$0	$0	$0
Brent Wagner	President	2.0	Officer Director	$0	$0	$0
Breton Weintraub	Statutory Director	1.0	Director	$0	$0	$0
Gurujot Khalsa	Statutory Director	1.0	Director	$0	$0	$0
Elizabeth Jimenez	Vice President	2.0	Officer Director	$0	$0	$0
Bill Shuttleworth	Treasurer & Secretary	2.0	Officer 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	No data	No data	No data	No data
2024	$8,150,561	$7,848,630	$16,979,237	$301,931
2023	$6,572,325	$6,276,312	$18,158,675	$296,013
2022	$6,553,056	$6,716,778	$14,769,890	$-163,722
2021	$8,153,350	$8,132,600	$13,199,153	$20,750
2020	$6,376,459	$7,629,251	$12,624,533	$-1,252,792
2019	$5,525,915	$7,898,580	$16,982,723	$-2,372,665
2018	$5,970,823	$8,308,405	$14,258,082	$-2,337,582

Biomedical Research Institute of New Mexico