Medical Technology Enterprise Consortium
- Assets
- $73.2m
- Revenue
- $159.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Summerville, SC
- Founding
- 04/2016
- Data as of
- 12/2021
- 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 12/2021, Lives Restored generated $159.8m in total revenue. All expenses for the organization totaled $156.3m during the year ending 12/2021. While expenses have increased by 127.2% 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
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 |
|---|---|---|---|
William Howell President | Officer | 7 | $33,200 |
William F Evans Treasurer | Officer | 2 | $32,000 |
Dr Brad Walters Chief Medical Officer | Officer | 1 | $16,480 |
Dr Lester Martinez-Lopez Director, Board Chairman | Trustee | 0.5 | $12,500 |
Julia Martin Chief Financial Officer | Officer | 4 | $0 |
Jill Sorensen Chief Operating Officer | Officer | 30 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Technology International Research Projs & Ops | 12/30/21 | $155,481,758 |
Arch Venture Management Consulting Services | 12/30/21 | $257,970 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $24 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,430 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,454 |
| Total Program Service Revenue | $159,780,359 |
| Investment income | $209 |
| 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 | $159,782,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,737 |
| 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. | $94,326 |
| Compensation of current officers, directors, key employees. | $94,326 |
| 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 | $575 |
| Fees for services: Accounting | $39,503 |
| Fees for services: Lobbying | $22,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $155,794,728 |
| Advertising and promotion | $0 |
| Office expenses | $17,929 |
| Information technology | $50,282 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $6,498 |
| All other expenses | $0 |
| Total functional expenses | $156,261,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,712,925 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,605,339 |
| 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 | $64,292,295 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,608,050 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $73,218,609 |
| Accounts payable and accrued expenses | $419,634 |
| Grants payable | $378,263 |
| Deferred revenue | $64,525,584 |
| 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 | $65,323,481 |
| Net assets without donor restrictions | $7,895,128 |
| 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 | $73,218,609 |
Grants Awarded
Over the last fiscal year, Medical Technology Enterprise Consortium has awarded $121,737 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASTROCYTE PHARMACEUTICALS INC PURPOSE: See Part IV | $82,500 |
Lexington, KY PURPOSE: See Part IV | $39,237 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Medical Technology Enterprise Consortium has recieved totaling $430.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $430 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Medical Technology Enterprise Consortium Summerville, SC | $73,218,609 | $159,782,022 |
Education And Research Consortium Of Western North Carolina Asheville, NC | $24,894,045 | $7,143,878 |
Bent Creek Institute Inc Asheville, NC | $201,660 | $266,886 |
International Technology Center Rtp, NC | $418,325 | $139,024 |
Gender And Radiation Impact Project Inc Candler, NC | $20,604 | $0 |
Richard T Greener Institute For Social Policy Columbia, SC | $23,631 | $8,303 |