Lovelace Biomedical Research Institute
2425 Ridgecrest Dr SE, Albuquerque, NM · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $83,397,041 | $87,744,696 | $207,161,613 |
| FY2024 | $91,209,797 | $91,486,502 | $212,022,844 |
| FY2023 | $112,131,523 | $94,680,185 | $207,334,520 |
| FY2022 | $71,507,956 | $66,188,457 | $120,606,119 |
| FY2021 | $89,255,628 | $80,362,730 | $129,294,967 |
| FY2020 | $76,388,415 | $74,188,991 | $110,727,486 |
| FY2019 | $18,927,855 | $20,698,355 | $27,678,757 |
| FY2018 | $17,520,714 | $15,989,123 | $30,404,585 |
| FY2017 | $10,540,044 | $20,559,896 | $29,052,005 |
| FY2016 | $21,238,875 | $18,796,438 | $38,003,728 |
| FY2015 | $28,017,137 | $26,878,385 | $36,057,145 |
| FY2014 | $28,495,296 | $89,786,690 | $39,217,563 |
| FY2013 | $41,414,093 | $38,265,599 | $98,232,773 |
| FY2012 | $51,879,538 | $49,699,380 | $93,968,711 |
Form 990 filings
The returns filed by Lovelace Biomedical Research Institute (EIN 85-0110669), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $12,194,618 | 15% |
| Program service revenue | $63,041,316 | 76% |
| Other revenue | $8,161,107 | 10% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $77,084,856 | 88% |
| Management & general | $10,659,840 | 12% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 76% of total revenue in FY2025.
- Program services accounted for 88% of functional expenses, management & general 12%, and fundraising 0%.
- 88% of functional expenses went to program services in FY2025. That is higher than 66.9% of 157 Medical Research organizations nationwide (too few in NM for a state comparison).
- Net assets covered about 28.3 months of expenses at the end of the reporting year. That puts it in the 61st percentile among 2562 Medical Research organizations nationwide (too few in NM for a state comparison).
- Total revenue was higher than 98.8% of 2633 Medical Research organizations nationwide (too few in NM for a state comparison).
- Total revenue rose from $51,879,538 in FY2012 to $83,397,041 in FY2025. Revenue increased in 5 and decreased in 8 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 5 of 14 reported years (FY2014, FY2017, FY2019, FY2024, FY2025).
- The highest revenue on record here is $112,131,523 in FY2023.
- Net assets grew from $93,968,711 to $207,161,613 between FY2012 and FY2025.
- Contributions and grants made up 76% of revenue in FY2012 and 15% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
THE LOVELACE BIOMEDICAL RESEARCH INSTITUTE (LBRI) IS A PRIVATE, BIOMEDICAL RESEARCH ORGANIZATION DEDICATED TO IMPROVING PUBLIC HEALTH THROUGH RESEARCH ON THE PREVENTION, TREATMENT AND CURE OF DISEASES.
IRS status
| Ruling year | 1969 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | H920 — Medical Research |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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