Initiative For Medicines Access &knowledge I-Mak Inc
- Assets
- $4.4m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Lewes, DE
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 20-8559302
Organization Overview
Initiative For Medicines Access &knowledge I-Mak Inc is located in Lewes, DE. The organization was established in 2007. According to its NTEE Classification (I83) the organization is classified as: Public Interest Law, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2023, Initiative For Medicines Access &knowledge I-Mak Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Initiative For Medicines Access &knowledge I-Mak Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Initiative For Medicines Access &knowledge I-Mak Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 12.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A MORE JUST AND EQUITABLE MEDICINES SYSTEM FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lara Galinsky Board Chair | OfficerTrustee | 1 | $0 |
Renu Saini Board Vice Chair | OfficerTrustee | 1 | $0 |
Monica Mehta Secretary (thru March 2023) | OfficerTrustee | 1 | $0 |
Kayum Ahmed Treasurer | OfficerTrustee | 1 | $0 |
Scott Warren Director | Trustee | 1 | $0 |
Patrick Ekeruo Director, Secretary (from April 2023) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,921,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,921,161 |
| Total Program Service Revenue | $200 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,921,379 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $473,640 |
| Compensation of current officers, directors, key employees. | $30,616 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $193,323 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,630 |
| Payroll taxes | $47,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,154 |
| Fees for services: Accounting | $121,129 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $477,117 |
| Advertising and promotion | $0 |
| Office expenses | $21,993 |
| Information technology | $44,229 |
| Royalties | $0 |
| Occupancy | $2,696 |
| Travel | $62,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $126,413 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,770 |
| All other expenses | $83,493 |
| Total functional expenses | $1,670,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,018,461 |
| Savings and temporary cash investments | $5,046 |
| Pledges and grants receivable | $285,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $63,260 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,371,767 |
| Accounts payable and accrued expenses | $117,875 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $117,875 |
| Net assets without donor restrictions | $3,957,081 |
| Net assets with donor restrictions | $296,811 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,371,767 |