Heritage Medical Research Institute
To support and advance translational research in the areas ofbasic and clinical science under the highest ethical and medicalstandards to identify and implement new innovative approachesand methodologies to diagnose, treat and/or manage the care ofdiseases to relieve suffering, improve outcomes, reduce costsand increase the overall value and accessibility of health care tomany more people than previously considered possible.
Heritage Medical Research Institute at a glance
In short: Heritage Medical Research Institute gave $4.7M across 1 grant in 2025 (avg $4.7M), mostly in California. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $4,712,488
- +37.1% vs 2024
- Grants made (2025)
- 1
- -66.7% vs 2024
- Average grant
- $4,712,488
- +311.3% vs 2024
- Median grant
- $4,712,488
- Total assets
- $266,158,026
- +5.1% vs 2024
- Primary geography
- California (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Heritage Medical Research Institute funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was California Institute of Technology ($4.7M).
Grant Size Distribution
15 grants across all recorded years
The most common grant size was in the $250–500K range: 7 grants of 15 (47%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Heritage Medical Research Institute gives
- Giving fell 24% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $3.3M (2019) to $6.2M (2022). In 2025 it made 1 grant totaling $4.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| California Institute of Technology Pasadena, CA | Program Assistance | $4,712,488 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $266,158,026 | $10,077,694 | $6,626,612 | $4,712,488 | 1 | $7,237,568 |
| 2024 | $253,299,130 | $19,001,633 | $5,053,636 | $3,436,924 | 3 | $19,029,445 |
| 2023 | $222,526,682 | $1,769,007 | $7,254,324 | $5,527,322 | 3 | $1,797,738 |
| 2022 | $224,317,324 | $12,358,037 | $8,121,488 | $6,233,215 | 4 | $5,202,716 |
| 2021 | $238,934,185 | $27,561,662 | $7,637,030 | $4,702,569 | 4 | $2,036,763 |
| 2020 | $196,179,172 | $75,867,622 | $4,876,483 | $3,357,473 | 2 | $8,290,579 |
| 2019 | $130,137,470 | $1,955,424 | $4,989,829 | $3,316,487 | 2 | $1,183,615 |
About Heritage Medical Research Institute
Based on IRS filings
Heritage Medical Research Institute is a public charity focused on Medical Research, based in Marina Del Rey, CA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $266.2M in total assets. In 2025, it awarded 1 grant totaling $4.7M. Net investment income was $7.2M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Heritage Medical Research Institute is led by Richard Merkin, President on every filing since 2019; 2 of 4 officers listed in 2025 are compensated.
Officers on the 2025 filing
Richard Merkin
President
On filings since 2019
5 hrs/week
No compensation reported
Matthew Suess
Research Associate
On filings since 2019
40 hrs/week
$190K (2019) → $269K (2025)
John Shen
Physician
New on the 2025 filing
40 hrs/week
$218K (2025)
Jaya Kurian
CFO
On filings since 2019
2 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $269K, to Matthew Suess (Research Associate). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Heritage Medical Research Institute
How much does Heritage Medical Research Institute give each year?
Heritage Medical Research Institute gave $4.7M across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $3.4M across 3 grants.
How large is Heritage Medical Research Institute?
Heritage Medical Research Institute reported $266.2M in total assets on its 2025 IRS Form 990. Its revenue that year was $10.1M.
What is Heritage Medical Research Institute?
Heritage Medical Research Institute is a public charity focused on Medical Research, based in Marina Del Rey, CA. It holds $266.2M in total assets as of 2025.
Where does Heritage Medical Research Institute operate?
Heritage Medical Research Institute has awarded grants in California, Virginia.
What is Heritage Medical Research Institute's EIN?
Heritage Medical Research Institute's EIN (Employer Identification Number) is 55-0839353. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS February 14, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS March 13, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
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