Biomedical Research Institute of New Mexico

Nonprofit profile at a glance

EIN
850374063
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5052565467
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Medical Research N.E.C.

Official website

Reported finances

Revenue
$8,334,379
Expenses
$7,480,610
Assets
$17,421,910
Liabilities
$7,402,402

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Jennifer Hogan (Executive Director)
  • Brent Wagner (President)
  • Elizabeth Jimenez (Vice President)

Highest reported compensation

  • Melissa Van Raden (Software Developer): $162,917 total reported compensation
  • Jennifer Hogan (Executive Director): $158,774 total reported compensation
  • Krishna Poddar (Software Developer): $152,871 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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 a wide array of research projects.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 56
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.2%; rating input score 70
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.2%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 2.33; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: -4.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -3.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 70.2% of revenue deployed · 82.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $163K · 14 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $312K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.