Heritage Medical Research Institute
- Assets
- $238.9m
- Revenue
- $27.6m
- Investments
- $224.5m
- Employees
- 1
- Location
- Marina Del Rey, CA
- Founding
- 02/2004
- Data as of
- 06/2021
- EIN
- 55-0839353
Organization Overview
Heritage Medical Research Institute is located in Marina Del Rey, CA. The organization was established in 2004. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Medical Research Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Heritage Medical Research Institute generated $27.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $7.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Heritage Medical Research Institute has awarded 30 individual grants totaling $21,867,212. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UMEDICAL RESEARCH IN CONJUNCTION WITH NON-PROFIT HOSPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL RESEARCH RE: CONJESTIVE HEART FAILURE & OBSTRUCTIVE PULMONARY DISEASERESEARCH DATA CONNECTED TO PATIENT OUTCOMES UNDER VARIOUS TREATMENT METHODOLOGIES. COLLECTION OF HOSPITAL ADMISSIONS AND OUTCOME RECORDS. TO SUPPORT AND ADVANCE TRANSLATIONAL RESEARCH IN THE AREAS OF BASIC AND CLINICAL SCIENCE UNDER THE HIGHEST ETHICAL AND MEDICAL STANDARDS TO IDENTIFY AND IMPLEMENT NEW INNOVATIVE APPROACHES AND METHODOLOGIES TO DIAGNOSE, TREAT AND/OR MANAGE THE CARE OF DISEASES TO RELIEVE SUFFERING, IMPROVE OUTCOMES, REDUCE COSTS AND INCREASE THE OVERALL VALUE AND ACCESSIBILITY OF HEALTH CARE TO MANY MORE PEOPLE THAN PREVIOUSLY CONSIDERED POSSIBLE.
DIABETIC FOOT ULCER CLINICAL STUDY RE: EVALUATION OF WINDOWED CASTS WITH AND WITHOUT REGRANEX GEL FOR HEALING DIABETIC NEUROPATHIC ULCERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Suess Research Associate | 40 | $229,885 | |
Dr Richard Merkin President | OfficerTrustee | 5 | $0 |
Jaya Kurian CFO | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jeffery Kurland Md Inc Medical Consulting | 6/29/21 | $180,000 |
Jsl Corporation Consulting Medical Consulting | 6/29/21 | $840,190 |
Silver Canyon Services Inc Management Services | 6/29/21 | $343,879 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,895,538 |
| Noncash contributions included in lines 1a–1f | $19,520,538 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,895,538 |
| Total Program Service Revenue | $0 |
| Investment income | $846,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,189,789 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,561,662 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,702,569 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $229,885 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,999 |
| Payroll taxes | $11,100 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35 |
| Fees for services: Accounting | $25,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $18,557 |
| Total functional expenses | $7,637,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,713,469 |
| Savings and temporary cash investments | $10,689,378 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $224,531,338 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $238,934,185 |
| Accounts payable and accrued expenses | $5,490,548 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,490,548 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $233,443,637 |
| Total liabilities and net assets/fund balances | $238,934,185 |
Grants Awarded
Over the last fiscal year, Heritage Medical Research Institute has awarded $4,702,569 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Pasadena, CA PURPOSE: PROGRAM ASSISTANCE | $3,574,569 |
Redwood City, CA PURPOSE: PROGRAM ASSISTANCE | $385,000 |
Charlottesville, VA PURPOSE: PROGRAM ASSISTANCE | $380,000 |
Oakland, CA PURPOSE: PROGRAM ASSISTANCE | $363,000 |
Santa Monica, CA PURPOSE: PROGRAM ASSISTANCE | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Medical Research Institute Marina Del Rey, CA | $238,934,185 | $27,561,662 |
Preventive Medicine Research Institute Sausalito, CA | $1,713,324 | $2,622,584 |
Vascular Cures Redwood City, CA | $4,123,824 | $516,547 |
Corday Family Foundation Beverly Hills, CA | $3,739,280 | $630,247 |
Phaware Global Association Burbank, CA | $911,775 | $484,122 |
International Society For Cardiovascular Translational Resea Phoenix, AZ | $500,843 | $312,563 |
Foundation For Cardiovascular Medicine And Research San Diego, CA | $2,574,907 | $91,466 |
International Andreas Gruentzig Society San Francisco, CA | $294,706 | $375,804 |
Medvantage Research Inc Rocklin, CA | $65,702 | $0 |
Pulmonary Pathology Society Inc Scottsdale, AZ | $390,785 | $227,087 |
International Pediatric Stroke Organization Inc San Francisco, CA | $343,019 | $397,760 |
Heart And Stroke Research Fund Scottsdale, AZ | $33,896 | $86,821 |