Medical Research (H300) IRS Verified DX Registered 990 on File

VAN ANDEL RESEARCH INSTITUTE

EIN: 52-2000823 · GRAND RAPIDS, MI 49503-2518 · United States · FY 2024 Data

3 out of 5 48 / 100 Based on 2+ years of filings

Financial strength (30%) 57/100

Reliability (20%) 55/100

Effectiveness (25%) 78/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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CharityAI™ Score

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Financial Overview — FY 2024

$112.7M

Total Revenue

$118.9M

Total Expenses

$174.3M

Net Assets

596

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 65.3%

Fundraising Efficiency 1331.2%

Operating Reserve 17.59x

Liability-to-Asset 8.5%

Revenue Diversification 87.9%

Executive Compensation $3.5M

Compared with Peers

FY 2024

Compared with 17 similar organizations (United States, Medical Research, $100M and over in expenses), FY 2024.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	65.3%	89.4%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	32.9%	7.8%	P10P90	Bottom quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	1.7%	0.1%	P10P90	Bottom quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	1331.2%	1331.2%	P10P90	Below median
Operating reserve Months of expenses covered by net assets · higher is better	17.6 mo	12.9 mo	P10P90	Above median
Liabilities to assets Total liabilities / total assets · lower is better	8.5%	29.2%	P10P90	Top quarter
Revenue concentration Share of revenue from the largest source · lower is better	87.9%	92.9%	P10P90	Above median
Revenue growth Year over year revenue growth	-66.8%	6.9%	P10P90
Expense growth Year over year expense growth	6.1%	9.7%	P10P90
Surplus margin Surplus as a share of revenue	-5.5%	0.5%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2024	$112.7M	$118.9M	$174.3M	65.3%	596
2023	$340.0M	$112.0M	$180.4M	66.0%	554
2022	$143.8M	$113.7M	$-44,512,015	68.5%	507
2021	$94.8M	$98.4M	N/A	—	525

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Organization Details

EIN: 52-2000823
State: MI
City: GRAND RAPIDS
ZIP: 49503-2518
Classification: H300
Category: Medical Research
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1996
Foundation Code: 12
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

★★★★★ 80–100 ★★★★☆ 60–79 ★★★☆☆ 40–59 ★★☆☆☆ 20–39 ★☆☆☆☆ 1–19

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