Neomed Research Corporation
- Assets
- $724.5k
- Revenue
- $161.7k
- Investments
- $300.0k
- Employees
- 0
- Location
- Rootstown, OH
- Founding
- 10/2000
- Data as of
- 06/2022
- EIN
- 34-1919613
Organization Overview
Neomed Research Corporation is located in Rootstown, OH. The organization was established in 2000. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., 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. Neomed Research Corporation 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 06/2022, Neomed Research Corporation generated $161.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.5% each year . All expenses for the organization totaled $154.9k during the year ending 06/2022. While expenses have increased by 14.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEOMED RESEARCH CORPORATION IS MADE UP OF NEOMED RESEARCH CORP AND REDIZONE LLC. REDIZONE LEASES SPACE FOR OFFICE AND LABS TO TENANTS DOING RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Kasmer Vice Chair | OfficerTrustee | 1 | $0 |
Mary Taylor Treasurer | OfficerTrustee | 1 | $0 |
Maria Schimer Secretary | OfficerTrustee | 1 | $0 |
Steven Schmidt Chair | OfficerTrustee | 1 | $0 |
John T Langell Director | Trustee | 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 | $494 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $494 |
| Total Program Service Revenue | $161,146 |
| Investment income | $20 |
| 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 | $161,660 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,886 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,440 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,220 |
| Advertising and promotion | $0 |
| Office expenses | $1,718 |
| Information technology | $3,516 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $381 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $154,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,324 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,197 |
| 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 | $300,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $724,521 |
| Accounts payable and accrued expenses | $19,722 |
| Grants payable | $0 |
| Deferred revenue | $3,376 |
| 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 | $23,098 |
| Net assets without donor restrictions | $701,423 |
| 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 | $724,521 |