Medical Technology Enterprise Consortium
- Assets
- $79.2m
- Revenue
- $210.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Summerville, SC
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 47-4960128
Organization Overview
Medical Technology Enterprise Consortium, operating under the name Lives Restored, is located in Summerville, SC. The organization was established in 2016. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lives Restored 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, Lives Restored generated $210.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 66.9% each year . All expenses for the organization totaled $210.5m during the year ending 12/2023. While expenses have increased by 68.3% 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.
Since 2021, Lives Restored has awarded 44 individual grants totaling $2,859,597. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FACILITATE COLLABORATION AMONG GOVERNMENT AGENCIES, INDUSTRY AND ACADEMIA IN ORDER TO IDENTIFY AND TRANSITION CUTTING-EDGE TECHNOLOGIES FOR USE IN MEDICAL SOLUTIONS THAT PROTECT, TREAT, AND OPTIMIZE HEALTH FOR MILITARY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Sorensen Chief Development Officer | Officer | 30 | $188,417 |
William Howell President | Officer | 9 | $63,250 |
William F Evans Treasurer | Officer | 2 | $30,500 |
Shawn Green Chief Of Strat. & Bus. Dev. | Officer | 7 | $29,590 |
Amy Salzhauer Director | Trustee | 0.5 | $6,625 |
Mark D Breyen Director | Trustee | 0.5 | $2,250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Technology International Research Projs & Ops | 12/30/23 | $207,972,047 |
Bilyan Llc Consulting Services | 12/30/23 | $188,417 |
Arch Venture Management Consulting Services | 12/30/23 | $128,985 |
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 | $858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $858 |
| Total Program Service Revenue | $210,415,307 |
| Investment income | $38,034 |
| 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 | $210,454,199 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,266,102 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $136,808 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $322,911 |
| Compensation of current officers, directors, key employees. | $322,911 |
| 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 | $23,588 |
| Fees for services: Accounting | $50,884 |
| Fees for services: Lobbying | $16,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,777 |
| Fees for services: Other | $208,358,845 |
| Advertising and promotion | $0 |
| Office expenses | $18,134 |
| Information technology | $87,704 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,845 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,983 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,967 |
| All other expenses | $0 |
| Total functional expenses | $210,507,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,899,027 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,788,178 |
| 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 | $71,245,552 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,268,478 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $79,201,235 |
| Accounts payable and accrued expenses | $623,625 |
| Grants payable | $0 |
| Deferred revenue | $71,520,242 |
| 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 | $72,143,867 |
| Net assets without donor restrictions | $7,057,368 |
| 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 | $79,201,235 |
Grants Awarded
Over the last fiscal year, Medical Technology Enterprise Consortium has awarded $1,258,603 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
INTERNATIONAL FABRIC MACHINES PURPOSE: See Part IV | $175,000 |
SURGIBOX INC PURPOSE: See Part IV | $128,500 |
UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION PURPOSE: See Part IV | $139,086 |
SENSE DIAGNOSTICS INC PURPOSE: See Part IV | $112,500 |
DELTA DEVELOPMENT TEAM INC PURPOSE: See Part IV | $111,854 |
PERCEPTIVE MEDICAL INC PURPOSE: See Part IV | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Medical Technology Enterprise Consortium Summerville, SC | $79,201,235 | $210,454,199 |
Education And Research Consortium Of Western North Carolina Asheville, NC | $15,165,608 | $4,655,844 |
Gender And Radiation Impact Project Inc Candler, NC | $124,172 | $293,218 |
One Nation Innovation Columbia, SC | $751,713 | $828,974 |
Plastic Ocean Project Inc Wilmington, NC | $170,105 | $0 |
Bent Creek Institute Inc Asheville, NC | $221,349 | $190,158 |
International Technology Center Rtp, NC | $368,320 | $117,288 |
Richard T Greener Institute For Social Policy Columbia, SC | $23,848 | $5,572 |
Heart Rate Variability Institute Inc Chocowinity, NC | $3,799 | $4,771 |