International Medica Foundation
- Assets
- $0.0
- Revenue
- $105.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 10/2010
- Data as of
- 11/2020
- EIN
- 26-1556795
Organization Overview
International Medica Foundation is located in Rochester, MN. The organization was established in 2010. According to its NTEE Classification (Q39) the organization is classified as: International Health Development <i>(Draft Code - not for internal IRS use)</i>, under the broad grouping of International, Foreign Affairs & National Security and related organizations.
For the year ending 11/2020, International Medica Foundation generated $105.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 40.1% each year . All expenses for the organization totaled $177.4k during the year ending 11/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INTERNATIONAL MEDICA FOUNDATION (INTL-MEDICA) INFORMED THE NATIONAL INSTITUTES OF HEALTH (NIH) THAT INTL-MEDICA WILL BE CEASING ALL ACTIVITIES IN NOVEMBER OF THIS YEAR AND WILL NO LONGER BE DEVELOPING THE ROTASHIELD ORAL ROTAVIRUS VACCINE TECHNOLOGY THAT WAS LICENSED FROM THE NIH. THE PRIMARY PURPOSE OF INTL-MEDICA, A NON-PROFIT FOUNDATION, WAS THE DEVELOPMENT AND DELIVERY OF THE ROTASHIELD ORAL ROTAVIRUS VACCINE FOR THE PREVENTION OF ROTAVIRUS-RELATED MORBIDITY AND DEATHS IN RESOURCE POOR COUNTRIES OF THE WORLD. WHILE A NUMBER OF ROTAVIRUS VACCINES HAVE ENTERED THE MARKET, ROTAVIRUSES ARE STILL A VERY COMMON CAUSE OF SEVERE DIARRHEAL DISEASE IN YOUNG CHILDREN THROUGHOUT THE WORLD WITH OVER 200,000 DEATHS/YEAR IN CHILDREN LESS THAN 5 YEARS OF AGE FROM THIS VACCINE-PREVENTABLE DISEASE. ALMOST ALL OF THESE CHILDREN LIVE IN LOW-INCOME COUNTRIES. SEE CONTINUATION OF DIRECT CHARITABLE ACTIVITY #1 ON "GENERAL EXPLANATION ATTACHMENT"
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Leonard Ruiz President | 25 | $57,000 | |
Scott Rosenow Vp/treasurer/secretary | 25 | $57,000 | |
Dr Franklyn G Prendergast Chairman | 2 | $0 | |
Dr Steven G Reed Director | 1 | $0 | |
Dr Er Dickson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $305 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$337 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $104,985 |
| Total Revenue | $104,953 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $122,721 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $15,062 |
| Interest | $0 |
| Taxes | $903 |
| Depreciation | $259 |
| Occupancy | $8,447 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,012 |
| Total operating and administrative expenses | $166,076 |
| Contributions, gifts, grants paid | $11,355 |
| Total expenses and disbursements | $177,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $500,000 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $500,000 |