Optimal Medical Foundation Inc
- Assets
- $26.5k
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Sault Sainte Marie, MI
- Founding
- 06/2000
- Data as of
- 12/2021
- EIN
- 31-1697776
Organization Overview
Optimal Medical Foundation Inc is located in Sault Sainte Marie, MI. The organization was established in 2000. According to its NTEE Classification (H81) the organization is classified as: AIDS Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Optimal Medical Foundation 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 12/2021, Optimal Medical Foundation Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 50.8% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 50.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTES AND FUNDS REASEARCH AND EDUCATION PROGRAMS AS WELL AS PROVIDESMEDICAL SUPPLIES FOR DISEASES THAT ATTACK CHILDREN AND THEIR FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEDICAL SUPPLIES TO CHILDREN AND THEIR FAMILIES IN IMPOVERISHED COUNTRIES IN AN EFFORT TOWORK TOWARDS ERRADICATING THE DISEASES THEY FACE ON A DAILY BASIS
PROMOTE EDUCATIONAL PROGRAMS FOR DISEASES THAT ATTACK CHILDREN AND THEIR FAMILIES
THE DEVELOPMENT OF A NUTRITIONAL EDUCATION PROGRAM FOR AMERICAN PUBLIC SCHOOL AGE CHILDREN AND THEIRFAMILIES
OTHER EXPENSES APPLIED TO PROGRAM SERVICES - POSTAGE $3,006, REGISTRATIONS $1,026
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luanna Armstrong Treasurer | Officer | 5 | $5,425 |
Janet Eland-Greenhalgh President | Officer | 20 | $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 | $2,620,845 |
| Noncash contributions included in lines 1a–1f | $2,620,845 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,620,845 |
| Total Program Service Revenue | $126,750 |
| Investment income | $0 |
| 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 | $2,747,595 |
| 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 | $2,620,845 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $25,000 |
| Fees for services: Legal | $3,172 |
| Fees for services: Accounting | $3,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,425 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,713,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,020 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,485 |
| 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 | $26,505 |
| Accounts payable and accrued expenses | $1,024 |
| 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 | $100,500 |
| Other liabilities | $0 |
| Total liabilities | $101,524 |
| Net assets without donor restrictions | -$75,019 |
| 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 | $26,505 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arbor Research Collaborative For Health Ann Arbor, MI | $23,346,603 | $18,357,581 |
Lankenau Institute For Medical Research Wynnewood, PA | $8,021,343 | $9,109,367 |
Morgridge Institute Foundation Inc Madison, WI | $491,309,219 | $74,942,129 |
Coalition Of Cancer Cooperative Groups Philadelphia, PA | $21,235,863 | $14,701,631 |
Centralwest Healthcare Inc Saint Louis, MO | $11,731,408 | $18,084,103 |
Monell Chemical Senses Center Philadelphia, PA | $23,424,187 | $14,213,713 |
Usona Institute Inc Madison, WI | $38,737,266 | $18,840,870 |
Lungevity Foundation Chicago, IL | $12,082,053 | $14,543,433 |
Minneapolis Heart Institute Foundation Minneapolis, MN | $51,520,170 | $19,174,876 |
Regenstrief Foundation Inc Indianapolis, IN | $0 | $6,850,830 |
American Academy Of Allergy Milwaukee, WI | $22,733,884 | $7,163,340 |
Essentia Institute Of Rural Health Duluth, MN | $6,914,650 | $9,904,383 |