Gates Medical Research Institute
95% goes to programs $0 to raise $100 Strong reserves Declining revenue
Gates Medical Research Institute is a 501(c)(3) organization based in Cambridge, Massachusetts, registered in 2018, with $132,834,027 in FY2024 revenue. CharityIndex grades it C, and it directs about 95% of spending to programs.
One Kendal Sq Bldg 600 Ste 6-301, Cambridge, MA, 02139 EIN 82-1808476 Since 2018
Revenue (FY2024)
$132.8M
▼ 83.6% vs prior year
Health median: $840K
Expenses (FY2024)
$341.1M
Net assets
$546.7M
Employees
175
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating95% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Gates Medical Research Institute: 95% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating19 mo reserves · -157% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Gates Medical Research Institute: 19 mo reserves · -157% margin earns a F on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Gates Medical Research Institute: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Gates Medical Research Institute: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The gates mri engages directly in the conduct of medical research in conjunction with one or more hospitals for the purpose of addressing major causes of illness and death in low-and lower-middle-income countries.
What they do
The gates mri's largest program area focuses on reducing the burden of tuberculosis through the research and development of novel therapeutics and vaccine candidates, including through the conduct of clinical trials.
Contact & location
- Address
- One Kendal Sq Bldg 600 Ste 6-301, Cambridge, MA, 02139
- City
- Cambridge
- State
- Massachusetts
- Category
- Health Care
- Subcategory
- Alliances, Advocacy & Professional Societies
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $262.7M (FY2017) to $132.8M (FY2024) across 8 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $66.5MNet assets $546.7M
Operating margin
-156.8%
Spent more than it raised in the latest fiscal year.
Total assets
$613.2M
Total liabilities
$66.5M
Net assets
$546.7M
Salaries & benefits
$66.4M
19% of expenses
Board members
5
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $132,834,027▼83.6% | $341,131,798▲79.9% | $546,705,677▼27.6% | $613,229,640▼24.9% | 990 |
| 2023 | $809,459,647▲6469% | $189,613,154▲38.2% | $755,003,448▲459% | $816,974,806▲338% | 990 |
| 2022 | $12,321,803▼94.3% | $137,217,184▲30.5% | $135,156,955▼48.0% | $186,459,426▼32.8% | 990 |
| 2021 | $216,748,532▲575% | $105,126,022▲5.8% | $260,067,335▲75.2% | $277,647,725▲62.0% | 990 |
| 2020 | $32,100,737▲227% | $99,371,314▲141% | $148,429,825▼31.2% | $171,367,184▼21.9% | 990 |
| 2019 | $9,807,864▼0.1% | $41,227,552▲84.3% | $215,700,402▼12.7% | $219,318,998▼11.9% | 990 |
| 2018 | $9,822,484▼96.3% | $22,373,638▲639% | $247,120,090▼4.8% | $248,840,285▼4.2% | 990 |
| 2017 | $262,698,758 | $3,027,514 | $259,671,244 | $259,671,244 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Michael Dunne — $812,206 (0.24% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Michael Dunne | Chief Medical Officer (end 12/24) | 40 | $812,206 |
| Harish Kaushal | Treasurer | 40 | $712,706 |
| Debra Weiss | Chief Operating Officer | 40 | $690,828 |
| Patrice Matchaba | Chief Executive Officer (start 6/24) | 40 | $584,380 |
| Jared Silverman | Head of Translational Discovery | 40 | $573,001 |
| Piper Trelstad | Head of Chem, Manufac, & Controls | 40 | $548,565 |
| Charles Wells | Head of Therapeutics Development | 40 | $523,132 |
| Alexander Schmidt | Head of Development | 40 | $496,301 |
| Marla Curran | Head of Biostatistics & Data Science | 40 | $480,102 |
| Claire Wagner | Head of Corp Strat & Mkt Access | 40 | $463,437 |
| Sally Jennings | Secretary | 40 | $446,414 |
| Emilio Emini | Chief Executive Officer (end 6/24) | 40 | $427,377 |
| Carolyn Ainslie | Director | 2 | — |
| Gagandeep Kang | Director | 2 | — |
| Helene Madonick | Director (end 12/24) | 2 | — |
| Toni Hoover | Director | 2 | — |
| Trevor Mundel | Director, Board Chair | 3 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Iqvia Rds Inc | Clinical Research Organization | $76,416,929 |
| Barc Sa | Clinical Lab Services | $19,804,818 |
| Logix Inc | Supplemental Staffing and Consulting Ser | $15,077,866 |
| Ppd Development LP | Clinical Research Organization | $11,652,866 |
| Beacon Hill Staffing Group LLC | Contingent Workers | $7,590,845 |
Grants received · $21.2M total
14 grants to Gates Medical Research Institute totaling $21.2M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Gates Philanthropy Partners | Covid-19 response | 2021 | $2,827,278 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $6,790 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $6,790 |
| Gates Philanthropy Partners | Covid-19 therapeutics | 2020 | $18,000,000 |
| Network For Good Inc | Unrestricted | 2020 | $26,764 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $17,527 |
| American Online Giving Foundation Inc | General support | 2020 | $8,310 |
| American Online Giving Foundation Inc | General support | 2020 | $8,310 |
| Paypal Charitable Giving Fund | General support | 2020 | $6,021 |
| International Vaccine Institute | Program service | 2019 | $152,946 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2019 | $47,251 |
| Donor Advised Charitable Giving | Health | 2019 | $31,200 |
| Donor Advised Charitable Giving | Health | 2018 | $10,930 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2018 | $6,208 |
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Frequently asked questions
- Is Gates Medical Research Institute a legitimate nonprofit?
- Yes. Gates Medical Research Institute is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 82-1808476, based in Cambridge, Massachusetts. Donations are tax-deductible.
- What is Gates Medical Research Institute's EIN?
- Gates Medical Research Institute's Employer Identification Number (EIN) is 82-1808476.
- How much revenue does Gates Medical Research Institute report?
- Gates Medical Research Institute reported $132,834,027 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Gates Medical Research Institute's spending goes to programs?
- Gates Medical Research Institute spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Gates Medical Research Institute have?
- CharityIndex grades Gates Medical Research Institute C, based on program efficiency and fundraising cost.
- How much does Gates Medical Research Institute's highest-paid employee make?
- The highest reported compensation on Gates Medical Research Institute's latest Form 990 is $812,206, paid to Michael Dunne (Chief Medical Officer (end 12/24)).
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Data for Gates Medical Research Institute (EIN 82-1808476) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.