Advancing Innovation In Dermatology Inc
- Assets
- $2.1m
- Revenue
- $681.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Mendham, NJ
- Founding
- 06/2012
- Data as of
- 12/2023
- EIN
- 45-3153544
Organization Overview
Advancing Innovation In Dermatology Inc is located in Mendham, NJ. The organization was established in 2012. According to its NTEE Classification (G40) the organization is classified as: Diseases of Specific Organs, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advancing Innovation In Dermatology 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 12/2023, Advancing Innovation In Dermatology Inc generated $681.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $640.0k during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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
ADVANCING INNOVATION IN DERMATOLOGY, INC. SUPPORTS AND PROMOTES THE EXCHANGE OF IDEAS IN THE FIELD OF DERMATOLOGY SO THAT NOVEL AND IMPORTANT PRODUCTS CAN BE DEVELOPED FOR THE TREATMENT AND CARE OF SKIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, ADVANCING INNOVATION IN DERMATOLOGY, INC. HOSTED TWO DERMATOLOGY CONFERENCES IN CONJUNCTION WITH ITS STATED MISSION. TOPICS COVERED INCLUDED STATE & FUTURE OF THE INDUSTRY. INNOVATIONS IN TOPICAL PRODUCTS,DIGITAL TECHNOLOGIES, AND IMMUNE REGULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Eaglstein Trustee | Trustee | 1 | $0 |
William Ju President | Officer | 8 | $0 |
Brian N Cunningham Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Caraval Group Inc Event Planning And Logistics | 12/30/15 | $228,035 |
Caraval Group Communications Llc Event Planning And Logistics | 12/30/15 | $130,256 |
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 | $486,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $486,414 |
| Total Program Service Revenue | $114,503 |
| Investment income | $80,458 |
| 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 | $681,375 |
| 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 | $103,078 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,398 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,570 |
| Fees for services: Accounting | $38,306 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $355,987 |
| Advertising and promotion | $0 |
| Office expenses | $102 |
| Information technology | $15,896 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,034 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $271 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,278 |
| All other expenses | $0 |
| Total functional expenses | $640,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,075 |
| Savings and temporary cash investments | $1,877,613 |
| 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 | $170,679 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,963 |
| Total assets | $2,051,330 |
| Accounts payable and accrued expenses | $31,214 |
| Grants payable | $0 |
| Deferred revenue | $383,350 |
| 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 | $6,923 |
| Total liabilities | $421,487 |
| Net assets without donor restrictions | $1,160,660 |
| Net assets with donor restrictions | $469,183 |
| 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 | $2,051,330 |
Grants Awarded
Over the last fiscal year, Advancing Innovation In Dermatology Inc has awarded $72,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
OREGON HEALTH & SCIENCES UNIVERSITY PURPOSE: MONTAGNA SYMPOSIUM ON THE BIOLOGY OF THE SKIN | $5,000 |
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: DERMATOLOGY RESEARCH SUPPORT | $50,000 |
IDEOM PURPOSE: DERMATOLOGY RESEARCH SUPPORT | $15,000 |
SOCIETY FOR INVESTIGATIVE DERMATOLOGY PURPOSE: DERMATOLOGY RESEARCH SUPPORT | $2,500 |