Association For The Advancement Of Medical Instrumentation Inc
- Assets
- $37.8m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 60
- Location
- Arlington, VA
- Founding
- 04/2011
- Data as of
- 09/2023
- EIN
- 27-4379277
Organization Overview
Association For The Advancement Of Medical Instrumentation Inc is located in Arlington, VA. The organization was established in 2011. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Association For The Advancement Of Medical Instrumentation Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association For The Advancement Of Medical Instrumentation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Association For The Advancement Of Medical Instrumentation Inc generated $20.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $17.4m during the year ending 09/2023. While expenses have increased by 3.1% per year over the past 8 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
DEDICATED TO INCREASING THE UNDERSTANDING, SAFETY, AND EFFICACY OF MEDICAL INSTRUMENTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EDUCATION PROGRAM DELIVERS QUALITY PRODUCTS AND SERVICES ON REGULATORY REQUIREMENTS, INTERNATIONAL STANDARDS, AND RECOMMENDED PRACTICES THAT PROVIDE A VENUE FOR THE UNDERSTANDING AND RESOLUTION OF CRITICAL ISSUES FACING THE HEALTHCARE TECHNOLOGY COMMUNITY. INCLUDED IN THIS PROGRAM SERVICE ARE EDUCATION AND INFORMATION SERVICES THAT INCREASE THE MEDICAL INDUSTRY'S UNDERSTANDING OF GOVERNMENT REGULATIONS, INTERNATIONAL STANDARDS, AND INDUSTRY PRACTICES. THE ANNUAL CONFERENCE OFFERS TIMELY, PRACTICAL, AND INNOVATIVE EDUCATIONAL OPPORTUNITIES FOR PROFESSIONALS WORKING IN THE CLINICAL SETTING AND INVOLVED WITH OR INTERESTED IN HEALTHCARE TECHNOLOGY SUPPORT AND MANAGEMENT.
THE STANDARDS PROGRAM PRODUCES NATIONAL AND INTERNATIONAL CONSENSUS STANDARDS THAT CONTRIBUTE TO IMPROVED PATIENT CARE AND SAFETY BY PROVIDING INDUSTRY AND CLINICIANS WITH INFORMATION AND GUIDANCE ON MANUFACTURING, PROCESSING, USING, AND MAINTAINING MEDICAL DEVICES.
THE COMMUNICATIONS PROGRAM PROVIDES TIMELY AND PRACTICAL INFORMATION TO ALL AAMI MEMBERS AND SEEKS TO IMPROVE OUTREACH TO LOCAL BIOMEDICAL ASSOCIATIONS, CLINICIANS, AND OTHER MEDICAL TECHNOLOGY PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Prust Chairperson | OfficerTrustee | 2 | $0 |
Walt Rosebrough Chair-Elect | OfficerTrustee | 2 | $0 |
Heidi Horn MA Aamif Treasurer/secretary | OfficerTrustee | 2 | $0 |
Steven J Yelton Pe Immediate Past-Chair | OfficerTrustee | 2 | $0 |
Barrett Franklin Director | Trustee | 2 | $0 |
Brian Barry Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edaptive Technologies Consulting | 9/29/23 | $109,713 |
Christine Krenc Consulting | 9/29/23 | $122,143 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $19,288,892 |
| Investment income | $655,867 |
| 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 | $20,159,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,939 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,170,451 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,451,582 |
| Pension plan accruals and contributions | $517,264 |
| Other employee benefits | $547,390 |
| Payroll taxes | $466,612 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,323 |
| Fees for services: Accounting | $67,969 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,834 |
| Fees for services: Other | $725,334 |
| Advertising and promotion | $71,207 |
| Office expenses | $173,224 |
| Information technology | $1,244,056 |
| Royalties | $206,622 |
| Occupancy | $1,034,717 |
| Travel | $389,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,105,934 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $964,907 |
| Insurance | $148,384 |
| All other expenses | $176,661 |
| Total functional expenses | $17,428,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,303,417 |
| Savings and temporary cash investments | $11,031,601 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,982,038 |
| 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 | $674,790 |
| Net Land, buildings, and equipment | $2,975,133 |
| Investments—publicly traded securities | $10,244,561 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,585,409 |
| Total assets | $37,796,949 |
| Accounts payable and accrued expenses | $2,989,280 |
| Grants payable | $0 |
| Deferred revenue | $4,616,737 |
| 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 | $8,413,479 |
| Total liabilities | $16,019,496 |
| Net assets without donor restrictions | $21,777,453 |
| Net assets with donor restrictions | $0 |
| 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 | $37,796,949 |
Grants Awarded
Over the last fiscal year, Association For The Advancement Of Medical Instrumentation Inc has awarded $41,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AAMI FOUNDATION PURPOSE: GENERAL SUPPORT | $25,000 |
MEDIVIEW XR INC PURPOSE: AAMI XCELERATOR AWARD | $10,000 |
AUGMENT THERAPY LLC PURPOSE: AAMI XCELERATOR AWARD | $6,000 |