Advanced Medical Technology Association
- Assets
- $41.8m
- Revenue
- $47.9m
- Investments
- $0.0
- Employees
- 100
- Location
- Washington, DC
- Founding
- 12/1975
- Data as of
- 12/2022
- EIN
- 52-1006053
Organization Overview
Advanced Medical Technology Association, operating under the name Advamed, is located in Washington, DC. The organization was established in 1975. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2022, Advamed employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advamed is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Advamed generated $47.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $44.6m during the year ending 12/2022. While expenses have increased by 3.8% per year over the past 8 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 2014, Advamed has awarded 104 individual grants totaling $1,849,800. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
REPRESENT MEDICAL DIAGNOSTICS & DEVICE MANUFACTURERS ON REGULATORY & LEGISLATIVE ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVAMED'S GOVERNMENT AFFAIRS FUNCTION REPRESENTS THE INDUSTRY BEFORE STATE AND FEDERAL POLICYMAKERS, IN GOVERNOR'S OFFICES, STATE LEGISLATURES, THE UNITED STATES CONGRESS, AND RELEVANT FEDERAL AGENCIES. ADVAMED'S ADVOCACY STAFF AND OUTSIDE CONSULTANTS PROVIDE INFORMATION ON POLITICAL AND POLICY DEVELOPMENTS, AND PURSUE THE INDUSTRY'S AGENDA FOR A LEGAL, REGULATORY AND ECONOMIC ENVIRONMENT THAT ADVANCES HEALTH CARE BY ASSURING PATIENT ACCESS TO THE BENEFITS OF MEDICAL TECHNOLOGY.
TAKING MEMBER COMPANY FEEDBACK FROM WORKING GROUPS AND COMMITTEES, ADVAMED STAFF PROVIDE CRITICAL INPUT TO REGULATORY AGENCIES LIKE FDA AND CMS ON REGULATIONS AND RULES THAT IMPACT THE ABILITY FOR PATIENTS TO RECEIVE TIMELY ACCESS TO LIFE CHANGING DEVICES PRODUCED BY ADVAMED MEMBERS.
OUR CONSULTANTS IN JAPAN, CHINA, AND OTHER OVERSEAS MARKETS REPRESENT ADVAMED IN RAPIDLY EXPANDING OVERSEAS MARKETS AND ATTEND MEETINGS WITH GOVERNMENT OFFICIALS AND INDUSTRY COMMITTEE MEETINGS. THESE CONSULTANTS PROVIDE REAL-TIME INFORMATION AND AN INDUSTRY VOICE IN OVERSEAS MARKETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Whitaker Chief Executive Officer | Officer | 40 | $2,203,381 |
Christopher L White General Counsel & Chief Policy Officer | Officer | 40 | $915,174 |
Janet Trunzo Evp, Tech And Regulatory Affairs | 40 | $667,536 | |
Greg Crist Chief Advocacy Officer | Officer | 40 | $635,483 |
Jennifer Brearey Chief Financial & Operating Officer | Officer | 40 | $567,670 |
Ray Briscuso Evp, Conferences & Events | Officer | 40 | $496,769 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hitt Contracting Inc Office Renovation | 12/30/22 | $3,634,156 |
Health Advances Llc Advameddx Testing Supply Registry | 12/30/22 | $755,750 |
Narrative Strategies Llc General Consulting And Pr Services | 12/30/22 | $595,008 |
Akin Gump Strauss Hauer & Feld Llp Congressional Advocacy & Legal | 12/30/22 | $689,142 |
Crowell & Moring Llp Services Related To Medical Device Regul | 12/30/22 | $572,069 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $740,242 |
| 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 | $740,242 |
| Total Program Service Revenue | $46,843,417 |
| Investment income | $157,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $123,966 |
| 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 | $47,870,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $338,500 |
| 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. | $5,446,304 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,373,886 |
| Pension plan accruals and contributions | $1,102,739 |
| Other employee benefits | $1,278,567 |
| Payroll taxes | $1,118,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $824,379 |
| Fees for services: Accounting | $69,754 |
| Fees for services: Lobbying | $2,805,978 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,789,304 |
| Advertising and promotion | $5,109 |
| Office expenses | $1,109,019 |
| Information technology | $137,131 |
| Royalties | $0 |
| Occupancy | $1,427,207 |
| Travel | $458,646 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,820,429 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $594,935 |
| Insurance | $126,411 |
| All other expenses | $321,785 |
| Total functional expenses | $44,643,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,353,439 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,247,782 |
| 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 | $697,636 |
| Net Land, buildings, and equipment | $2,414,967 |
| Investments—publicly traded securities | $1,232,046 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,515,128 |
| Other assets | $12,345,179 |
| Total assets | $41,806,177 |
| Accounts payable and accrued expenses | $7,533,539 |
| Grants payable | $0 |
| Deferred revenue | $1,487,824 |
| 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 | $16,177,282 |
| Total liabilities | $25,198,645 |
| Net assets without donor restrictions | $16,607,532 |
| 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 | $41,806,177 |
Grants Awarded
Over the last fiscal year, Advanced Medical Technology Association has awarded $330,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
SANDY HOOK PROMISE FOUNDATION INC PURPOSE: PROGRAM SUPPORT | $10,000 |
NATIONAL WOMENS HEALTH RESOURCE CENTER INC PURPOSE: PROGRAM SUPPORT | $10,000 |
NATIONAL CONFERENCE OF STATE LEGISLATURES (NCSL) PURPOSE: PROGRAM SUPPORT | $10,000 |
FRIENDS OF CANCER RESEARCH PURPOSE: PROGRAM SUPPORT | $10,000 |
ENVIRONMENTAL COUNCIL OF THE STATES (ECOS) PURPOSE: PROGRAM SUPPORT | $10,000 |
PREVENT CANCER FOUNDATION PURPOSE: PROGRAM SUPPORT | $10,000 |