Hampton Roads Biomedical Research Consortium
Nonprofit profile at a glance
- EIN
- 852555984
- IRS 990 coverage
- 2023–2024
- Forms available
- Form 990 2024, Form 990-EZ 2022, Form 990-N 2020
- Location
- Portsmouth, VA, USA
- Phone
- 7576566218
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $4,000,065
- Expenses
- $3,650,484
- Assets
- $5,726,086
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- HEATHER RICHTER (EXECUTIVE DIRECTOR)
Highest reported compensation
- HEATHER RICHTER (EXECUTIVE DIRECTOR): $237,921 total reported compensation
- BRIDGET GILES (RESEARCH ASSISTANT PROFESSOR): $144,347 total reported compensation
- JONATHAN COLEN (RESEARCH ASSISTANT PROFESSOR): $141,329 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The hampton roads biomedical research consortium (hrbrc) was founded in 2020 as a state-sponsored initiative to address health disparities, jumpstart scientific research, and develop a robust bio-health vertical in hampton roads. Today, the hrbrc is a dynamic, community-based research collaborative of eastern Virginia medical school, norfolk state university, old dominion university, and sentara healthcare that teams together with other health and school systems, community and civic organizations, research entities, and community leaders, thinkers, innovators, and entrepreneurs across industries to holistically and versatilely understand community health, enhance health equity, and drive economic strength in eastern Virginia.
What it reported doing in 2024
The hampton roads biomedical research consortium (hrbrc) is a state-sponsored partnership between old dominion university, macon & joan brock Virginia health sciences at odu, sentara healthcare, and norfolk state university. Hrbrc's objective is to address health disparities, jumpstart scientific research, and advance biohealth development and innovation within the region.
Operating model
- Revenue model
- Grant-funded. 100% of the money available for current operations came from government grants.
- 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 60
- Accountability: 84
- Sustainability: 56
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.7%; rating input score 87
- Program expense ratio: 95%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 8.7%; rating input score 60; 60th percentile among comparable filings
- Total-asset coverage ratio: 1.57; rating input score 53; 53rd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
- Officer compensation ratio: 22.8%; rating input score 10; 10th percentile among comparable filings
Growth
- Program expense growth: 163.2% per year; rating input score 100; 100th percentile among comparable filings
- Revenue growth: 90.4% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 102.9% per year; rating input score 100; 99th percentile among comparable filings
Details
- Where the money goes: 86.7% of revenue deployed · 95% of spending went to programs
- Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $3.5M in reported program spending
- Leadership: top reported pay $238K · 16 people listed · 0 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 53/100.
- High — Sustainability: Officer compensation ratio scored 10/100.