Lexington Biomedical Research

Nonprofit profile at a glance

EIN
611222684
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Lexington, KY, USA
Phone
8592334511
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Health Program (Includes General Health and Wellness Promotion Services)

Reported finances

Revenue
$642,758
Expenses
$486,705
Assets
$442,399
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • DAVID L WELLS (President)

Highest reported compensation

  • VANESSA MCQUEEN: $66,136 total reported compensation
  • JUDY F GLASS (ADMIN): $50,186 total reported compensation
  • ALYSSA RODGERS: $33,144 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assist in research and educational activities in accordance with federal rules and regulations in association with the lexington va medical cetner

Operating model

Revenue model
Grant-funded. 87% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.2%; rating input score 68
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.3%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 46.1%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 68.2% of revenue deployed · 90.1% of spending went to programs
  • Governance: 0 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $439K in reported program spending
  • Leadership: top reported pay $66K · 14 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2012 to 2023
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.