Medical Research (H02) 990 on File

CLOSING THE GAP IN HEALTH CARE INC

EIN: 52-2450102 · NORTH CHARLESTON, SC 29418-5657 · United States · FY 2024 Data

3 out of 5 53 / 100 Based on 2+ years of filings

Financial strength (30%) 71/100

Reliability (20%) 55/100

Effectiveness (25%) 81/100

Impact (25%) No data yet

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

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Financial Overview — FY 2024

$195K

Total Revenue

$285K

Total Expenses

$60K

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 83.0%

Fundraising Efficiency N/A

Operating Reserve 2.54x

Liability-to-Asset 0.3%

Revenue Diversification 123.3%

Executive Compensation $87K

Compared with Peers

FY 2024

Compared with 726 similar organizations (United States, Medical Research, $100K–$1M 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	83.0%	84.5%	P10P90	Below median
Admin expense ratio Management and general / total expenses · lower is better	12.1%	11.4%	P10P90	Below median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	4.9%	0.0%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	2.5 mo	13.4 mo	P10P90	Bottom quarter
Liabilities to assets Total liabilities / total assets · lower is better	0.3%	0.4%	P10P90	Above median
Revenue concentration Share of revenue from the largest source · lower is better	123.3%	93.3%	P10P90	Bottom quarter
Revenue growth Year over year revenue growth	-66.0%	9.1%	P10P90
Expense growth Year over year expense growth	-40.2%	8.8%	P10P90
Surplus margin Surplus as a share of revenue	-46.2%	1.8%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2024	$195K	$285K	$60K	83.0%	5
2023	$574K	$477K	$151K	89.1%	5
2022	$474K	$472K	$54K	88.1%	5
2021	$362K	$327K	N/A	—	3

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Organization Details

EIN: 52-2450102
State: SC
City: NORTH CHARLESTON
ZIP: 29418-5657
Classification: H02
Category: Medical Research
Rating: 3★
Coverage: A
Last Updated: Aug 2026
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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