Innovations In Healthcare Inc
- Assets
- $1.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 05/2013
- Data as of
- 06/2021
- EIN
- 32-0358709
Organization Overview
Innovations In Healthcare Inc is located in Durham, NC. The organization was established in 2013. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovations In Healthcare 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 06/2021, Innovations In Healthcare Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $1.5m during the year ending 06/2021. While expenses have increased by 9.3% per year over the past 6 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
SEE SCHEDULE O FOR ORGANIZATION'S MISSION STATEMENT.PROMOTE GLOBAL ACCESS TO COST-EFFECTIVE AND HIGH-QUALITY HEALTHCARE. FACILITATE AND ENCOURAGE THE BROAD AND PROMPT DISSEMINATION OF DATA AND INFORMATION RELATING TO INNOVATIVE HEALTHCARE SOLUTIONS AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPANDED A NETWORK OF TOP GLOBAL INNOVATORS IN HEALTHCARE AND BUILT PROGRAMS FOR SHARING EXPERTISE AND FACILITATING CONNECTIONS AND COLLABORATIONS. ORGANIZED AND HOSTED ANNUAL FORUM (CONFERENCE), BRINGING TOGETHER CORPORATE AND GLOBAL HEALTH LEADERS, INVESTORS, AND LEADING INNOVATORS TO FACILITATE KEY CONNECTIONS. DEVELOPED AND DISSEMINATED KNOWLEDGE, INCLUDING PROFILES AND CASE STUDIES OF INNOVATIVE HEALTHCARE DELIVERY MODELS WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krishnakumar Udayakumar Director/president | OfficerTrustee | 0.1 | $0 |
Lisa Varani Treasurer | Officer | 0.1 | $0 |
Lisa Bourget Vice President | Officer | 20 | $0 |
Terri Smith Secretary | Officer | 14 | $0 |
Mark Mcclellan Director | Trustee | 0.1 | $0 |
Michael H Merson Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $219,698 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $512,114 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $731,812 |
| Total Program Service Revenue | $602,938 |
| 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 | $1,334,750 |
| 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. | $343,094 |
| Compensation of current officers, directors, key employees. | $69,336 |
| 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 | $0 |
| Fees for services: Legal | $4,094 |
| Fees for services: Accounting | $0 |
| 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 | $7,727 |
| Information technology | $45,736 |
| Royalties | $0 |
| Occupancy | $43,352 |
| Travel | $6,389 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $139 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $211 |
| Total functional expenses | $1,453,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $724,005 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $375,128 |
| 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 | $0 |
| 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 | $1,099,133 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $1,099,133 |
| Total liabilities and net assets/fund balances | $1,099,133 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Innovations In Healthcare Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Linked Foundation Carpinteria, CA PURPOSE: HEALTHCAREMOBILE CLINICSPROJECT | $2,500 |
Linked Foundation Carpinteria, CA PURPOSE: HEALTHCAREMOBILE CLINICSPROJECT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Guilford County Partnership For Children Inc Greensboro, NC | $1,133,559 | $15,560,026 |
Partnership For Children Of Cumberland County Inc Fayetteville, NC | $3,851,277 | $14,252,624 |
Onslow County Partnership For Children Jacksonville, NC | $467,793 | $12,255,030 |
Durhams Partnership For Children Durham, NC | $515,182 | $10,701,897 |
North Carolina Association Of Educators Inc Raleigh, NC | $37,548,115 | $38,819,599 |
Robeson County Partnership For Children Lumberton, NC | $1,373,329 | $6,719,336 |
Down East Partnership For Children Rocky Mount, NC | $901,285 | $6,638,364 |
Cleveland County Partnership For Children Inc Kings Mountain, NC | $125,732 | $6,139,348 |
The Partnership For Children Of Wayne County Inc Goldsboro, NC | $310,376 | $5,891,919 |
South Carolina First Steps To School Readiness Board Of Trustees Greenwood, SC | $1,192,228 | $5,496,255 |
South Carolina First Steps To School Readiness Board Of Trustees Greenwood, SC | $2,170,210 | $5,744,803 |
Buncombe County Partnership For Children Inc Asheville, NC | $267,701 | $5,086,293 |