Osteopathic Medical Education Consortium Of Oklahoma Inc
- Assets
- $7.7m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 04/2012
- Data as of
- 06/2023
- EIN
- 45-2525815
Organization Overview
Osteopathic Medical Education Consortium Of Oklahoma Inc, operating under the name Omeco, is located in Tulsa, OK. The organization was established in 2012. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Omeco 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 06/2023, Omeco generated $14.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $8.1m during the year ending 06/2023. While expenses have increased by 10.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE OSTEOPATHIC MEDICAL EDUCATION CONSORTIUM OF OKLAHOMA (OMECO) IS A CONSORTIUM OF PARTNER INSTITUTIONS WHOSE MISSION IS TO SUPPORT AND PROMOTE EXCELLENCE IN THE CONTINUUM OF OSTEOPATHIC MEDICAL EDUCATION IN OKLAHOMA, ARKANSAS, AND MISSOURI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OMECO SERVED AS AN ACCREDITED OSTEOPATHIC POSTGRADUATE TRAINING INSTITUTE OF THE AMERICAN OSTEOPATHIC ASSOCIATION. IN THIS CAPACITY, IT PROVIDED ACCESS TO RESEARCH MENTORS, ASSISTED RESIDENTS AND FACULTY WITH OBTAINING FUNDING AND IDENTIFYING RESEARCH GRANTS, PROVIDED BUDGETED SEED GRANTS, PROVIDED SAMPLE POLICIES AND PROCEDURES TO INSTITUTIONS, PROVIDED ACCESS TO RESEARCH COMPETITIONS, AND ASSISTED RESIDENTS AND FACULTY WITH IDENTIFYING PUBLICATION AND PRESENTATION OPPORTUNITIES WITH NATIONAL ASSOCIATIONS AND JOURNALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lesley Van Volkinburg Executive Director | OfficerTrustee | 34 | $0 |
Mo Som Chief Academic Officer And | OfficerTrustee | 20 | $0 |
Don Lowther CFO And Director | OfficerTrustee | 20 | $0 |
Dennis Blankenship Director | OfficerTrustee | 1 | $0 |
Eric Polak Director | OfficerTrustee | 1 | $0 |
Jenny Alexopulos Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tahlequah Medical Group Develop And Operate An Internal Medicine | 6/29/23 | $1,987,073 |
Choctaw Nation Health Services Authority Develop And Operate A Family Medicine Re | 6/29/23 | $1,920,000 |
Chickasaw Nation Division Of Health Develop And Operate A Family Medicine Re | 6/29/23 | $1,185,778 |
Cherokee Nation Develop And Operate A Family Medicine Re | 6/29/23 | $964,622 |
Osu Medical Center Trust Develop And Operate Family Medicine/pedi | 6/29/23 | $835,012 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $47,589 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,995,234 |
| 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 | $14,042,823 |
| Total Program Service Revenue | $0 |
| 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 | $14,295,391 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $74,231 |
| Advertising and promotion | $0 |
| Office expenses | $771,302 |
| Information technology | $5,577 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,996 |
| 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 | $26,777 |
| Total functional expenses | $8,111,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,435,872 |
| 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 | $7,695,433 |
| Accounts payable and accrued expenses | $1,178,330 |
| 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 | $1,178,330 |
| Net assets without donor restrictions | $6,517,103 |
| 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 | $7,695,433 |