Veterans Bio Medical Research Institute Inc
Veterans Bio Medical Research Institute: Declining Assets and Persistent Deficits Raise Concerns
EIN: 222995785 · East Orange, NJ · Updated: 2026-04-04
Is Veterans Bio Medical Research Institute Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Veterans Bio Medical Research Institute Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Veterans Bio Medical Research Institute Inc
Veterans Bio Medical Research Institute Inc (EIN: 222995785) is a nonprofit organization based in East Orange, NJ. The organization reported total revenue of $2.3M and total assets of $754K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Veterans Bio Medical Research Institute Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Veterans Bio Medical Research Institute Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Veterans Bio Medical Research Institute Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which warrants further investigation given the organization's operational scale and expenses.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Veterans Bio Medical Research Institute Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue in every year provided, leading to a significant depletion of assets.
- Declining net assets: Total assets have decreased from $2,287,413 in 2018 to $753,700 in 2023, indicating financial instability.
- Unusual executive compensation: Reporting $0 for all highest paid employees is highly uncommon and may suggest incomplete or misleading disclosure.
- Lack of detailed program impact: The provided data does not offer specific metrics or descriptions of the biomedical research conducted or its outcomes.
Strengths
The following positive indicators were identified for Veterans Bio Medical Research Institute Inc:
- Consistent revenue generation: The organization has maintained revenue levels generally above $1.8 million annually, indicating a stable donor base or funding stream.
- Focus on a critical mission: Biomedical research for veterans addresses a vital need.
Frequently Asked Questions about Veterans Bio Medical Research Institute Inc
Is Veterans Bio Medical Research Institute Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Veterans Bio Medical Research Institute Inc (EIN: 222995785) some concerns. Mission Score: 65/100. 4 red flags identified, 2 strengths noted.
How does Veterans Bio Medical Research Institute Inc spend its money?
Veterans Bio Medical Research Institute Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Veterans Bio Medical Research Institute Inc tax-deductible?
Veterans Bio Medical Research Institute Inc is registered as a tax-exempt nonprofit (EIN: 222995785). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Veterans Bio Medical Research Institute Inc do?
Veterans Bio Medical Research Institute Inc is a nonprofit organization in the Unknown sector, located in East Orange, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Veterans Bio Medical Research Institute Inc have?
Veterans Bio Medical Research Institute Inc reported total revenue of $2,300,322. Based on 13 IRS 990 filings on record.
What are Veterans Bio Medical Research Institute Inc's total assets?
Veterans Bio Medical Research Institute Inc holds total assets of $753,700 as reported in IRS 990 filings.
Where is Veterans Bio Medical Research Institute Inc located?
Veterans Bio Medical Research Institute Inc is based in East Orange, New Jersey.
What is Veterans Bio Medical Research Institute Inc's EIN?
Veterans Bio Medical Research Institute Inc's Employer Identification Number (EIN) is 222995785. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Veterans Bio Medical Research Institute Inc?
Veterans Bio Medical Research Institute Inc is classified under NTEE code Unknown (Unknown).
Is Veterans Bio Medical Research Institute Inc a registered 501(c)(3)?
Veterans Bio Medical Research Institute Inc appears in IRS records (EIN: 222995785). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Veterans Bio Medical Research Institute Inc file IRS Form 990?
Yes, Veterans Bio Medical Research Institute Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Veterans Bio Medical Research Institute Inc's revenue in 2023?
In the 202312 filing period, Veterans Bio Medical Research Institute Inc reported total revenue of $2,388,756, total expenses of $2,562,010, and net assets of $912,842.
Is Veterans Bio Medical Research Institute Inc's revenue growing or declining?
Veterans Bio Medical Research Institute Inc's revenue is relatively stable. Revenue went from $2,396,322 (202212) to $2,388,756 (202312), a -0.3% change. Based on 13 filings on record.
What is Veterans Bio Medical Research Institute Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Veterans Bio Medical Research Institute Inc covers tax period 202312. It shows revenue of $2,388,756, expenses of $2,562,010, total assets of $912,842, and liabilities of $286,107.
How much does Veterans Bio Medical Research Institute Inc spend on programs vs administration?
Based on IRS 990 analysis, Veterans Bio Medical Research Institute Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Veterans Bio Medical Research Institute Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Veterans Bio Medical Research Institute Inc shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 2 strengths noted.
What are the red flags for Veterans Bio Medical Research Institute Inc?
The following concerns were identified: Consistent operating deficits: Expenses have exceeded revenue in every year provided, leading to a significant depletion of assets.. Declining net assets: Total assets have decreased from $2,287,413 in 2018 to $753,700 in 2023, indicating financial instability.. Unusual executive compensation: Reporting $0 for all highest paid employees is highly uncommon and may suggest incomplete or misleading disclosure.. Lack of detailed program impact: The provided data does not offer specific metrics or descriptions of the biomedical research conducted or its outcomes.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Veterans Bio Medical Research Institute Inc's strengths?
Positive indicators for Veterans Bio Medical Research Institute Inc include: Consistent revenue generation: The organization has maintained revenue levels generally above $1.8 million annually, indicating a stable donor base or funding stream.. Focus on a critical mission: Biomedical research for veterans addresses a vital need.. These findings are derived from AI analysis of the organization's financial filings.
How does Veterans Bio Medical Research Institute Inc compensate executives?
Executive compensation is reported as $0 across all available filings, which warrants further investigation given the organization's operational scale and expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for executive compensation, what is the actual mechanism for leadership remuneration, or how are key personnel compensated for their roles?
The consistent reporting of $0 for executive compensation in the filings is highly unusual for an organization of this size and operational scope. This could indicate that compensation is being paid through a related entity, classified under different expense categories, or that the highest-paid individuals are volunteers. Further investigation into detailed expense breakdowns and related party transactions would be necessary to understand how leadership is compensated.
What is the long-term sustainability plan for an organization that has consistently operated at a deficit, with expenses exceeding revenue in every reported year?
The consistent operating deficits, where expenses have exceeded revenue for at least seven consecutive years, raise significant concerns about the organization's long-term financial sustainability. Without a clear strategy to reverse this trend, the continued depletion of net assets will eventually impact its ability to fund its mission. This trend suggests a need for either increased revenue generation or significant cost reductions to achieve financial stability.
Filing History
IRS 990 filing history for Veterans Bio Medical Research Institute Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Veterans Bio Medical Research Institute Inc's revenue has declined by 3%, moving from $2.5M to $2.4M. Total assets decreased by 71.6% over the same period, from $3.2M to $913K. Total functional expenses rose by 11.7%, from $2.3M to $2.6M. In its most recent filing year (2023), Veterans Bio Medical Research Institute Inc reported a deficit of $173K, with expenses exceeding revenue. The organization holds $286K in liabilities against $913K in assets (debt-to-asset ratio: 31.3%), resulting in net assets of $627K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.6M | $913K | $286K | — | — |
| 2022 | $2.4M | $2.3M | $1.2M | $364K | — | View 990 |
| 2021 | $2.0M | $2.2M | $1.1M | $358K | — | — |
| 2020 | $1.8M | $2.1M | $1.2M | $316K | — | — |
| 2019 | $1.8M | $2.1M | $1.4M | $323K | — | View 990 |
| 2018 | $2.7M | $2.9M | $2.3M | $951K | — | View 990 |
| 2017 | $2.6M | $2.6M | $2.3M | $678K | — | View 990 |
| 2016 | $2.0M | $2.3M | $2.2M | $742K | — | View 990 |
| 2015 | $2.4M | $2.8M | $2.3M | $601K | — | View 990 |
| 2014 | $2.3M | $2.7M | $2.7M | $512K | — | View 990 |
| 2013 | $1.9M | $2.1M | $2.7M | $371K | — | View 990 |
| 2012 | $2.3M | $2.3M | $3.0M | $474K | — | View 990 |
| 2011 | $2.5M | $2.3M | $3.2M | $681K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.6M, and assets of $913K (revenue -0.3% year-over-year).
- 2022: Revenue of $2.4M, expenses of $2.3M, and assets of $1.2M (revenue +20.5% year-over-year).
- 2021: Revenue of $2.0M, expenses of $2.2M, and assets of $1.1M (revenue +7.7% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.1M, and assets of $1.2M (revenue -0.1% year-over-year).
- 2019: Revenue of $1.8M, expenses of $2.1M, and assets of $1.4M (revenue -30.3% year-over-year).
- 2018: Revenue of $2.7M, expenses of $2.9M, and assets of $2.3M (revenue +2.7% year-over-year).
- 2017: Revenue of $2.6M, expenses of $2.6M, and assets of $2.3M (revenue +30.9% year-over-year).
- 2016: Revenue of $2.0M, expenses of $2.3M, and assets of $2.2M (revenue -18.2% year-over-year).
- 2015: Revenue of $2.4M, expenses of $2.8M, and assets of $2.3M (revenue +6.0% year-over-year).
- 2014: Revenue of $2.3M, expenses of $2.7M, and assets of $2.7M (revenue +22.5% year-over-year).
- 2013: Revenue of $1.9M, expenses of $2.1M, and assets of $2.7M (revenue -18.3% year-over-year).
- 2012: Revenue of $2.3M, expenses of $2.3M, and assets of $3.0M (revenue -7.8% year-over-year).
- 2011: Revenue of $2.5M, expenses of $2.3M, and assets of $3.2M.
Data Sources and Methodology
This transparency report for Veterans Bio Medical Research Institute Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.