Institute For Advanced Clinical Trials For Children
- Assets
- $3.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Rockville, MD
- Founding
- 11/2016
- Data as of
- 12/2023
- EIN
- 81-2076517
Organization Overview
Institute For Advanced Clinical Trials For Children is located in Rockville, MD. The organization was established in 2016. According to its NTEE Classification (H98) the organization is classified as: Pediatrics Research, under the broad grouping of Medical Research and related organizations. As of 12/2023, Institute For Advanced Clinical Trials For Children employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Advanced Clinical Trials For Children 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, Institute For Advanced Clinical Trials For Children generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Institute For Advanced Clinical Trials For Children has awarded 77 individual grants totaling $1,382,704. 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 PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THIS TIME PERIOD, THE ORGANIZATION PROVIDED EXPERT GUIDANCE AND INPUT ON MULTIPLE PEDIATRIC CLINICAL DEVELOPMENT PLANS AND PEDIATRIC CLINICAL TRIALS WITH THE GOAL OF IMPROVING THE PROCESSES AND ACCELERATING THE DEVELOPMENT OF INNOVATIVE PRODUCTS FOR USE IN CHILDREN. ADDITIONALLY, THE ORGANIZATION ALSO CONNECTED REGULATORY QUALITY TRIAL READY SITES IN OUR PEDIATRIC CLINICAL TRIAL SITE NETWORK WITH CLINICAL TRIALS FOR A VARIETY OF BIOPHARMACEUTICAL COMPANIES ACROSS MULTIPLE THERAPEUTIC AREAS.THE ORGANIZATION UTILIZED ITS NETWORK OF EXPERTS TO CONVENE WORKING GROUPS TO ADDRESS PROBLEMS IN PEDIATRIC CLINICAL DEVELOPMENT COMMON ACROSS A VARIETY OF STAKEHOLDERS, THAT OTHERWISE WOULD NOT BE ADDRESSED IN A PRECOMPETITIVE MANNER.THE ORGANIZATION BROUGHT TOGETHER PEDIATRIC RESEARCH EXPERTS FROM ALL SECTORS ACADEMIA, CHILDREN'S HOSPITALS, INDUSTRY AND REGULATORY AGENCIES TO CONDUCT PEDIATRIC RESEARCH EDUCATIONAL WEBINARS TO CREATE A CONTINUOUS LEARNING ENVIRONMENT TO EXPAND BEST PRACTICES IN CLINICAL TRIALS CONDUCT AND IMPROVE QUALITY, SPEND AND VALUE. THROUGH THESE EDUCATIONAL INITIATIVES, THE ORGANIZATION HOPES TO FOSTER A COLLABORATIVE ENVIRONMENT WHERE RESEARCHERS CAN SHARE THEIR KNOWLEDGE AND EXPERIENCES TO IMPROVE THE QUALITY AND EFFICIENCY OF PEDIATRIC CLINICAL TRIALS. ULTIMATELY, THE GOAL IS TO ACCELERATE THE DEVELOPMENT OF NEW THERAPIES FOR CHILDREN AND IMPROVE OVERALL HEALTH OUTCOMES FOR PEDIATRIC POPULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Garofalo Chairwoman | OfficerTrustee | 3 | $0 |
Martha Brumfield Secretary/treasurer | OfficerTrustee | 3 | $0 |
Barry Brooks Director | Trustee | 3 | $0 |
James Pomfret Director | Trustee | 3 | $0 |
Max Coppes Director | Trustee | 3 | $0 |
Jeff Barrett Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spark Excellence Llc Quality Improvement Educational Services | 12/30/22 | $100,734 |
Kerry West Consulting Hr, Recruiting & Consulting Services | 12/30/22 | $100,463 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $650,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $179,961 |
| All other contributions, gifts, grants, and similar amounts not included above | $296,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,126,270 |
| Total Program Service Revenue | $258,947 |
| Investment income | $78,674 |
| 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 | $1,463,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $134,894 |
| 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. | $1,090,238 |
| Compensation of current officers, directors, key employees. | $289,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $760,318 |
| Pension plan accruals and contributions | $31,097 |
| Other employee benefits | $72,176 |
| Payroll taxes | $130,582 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,598 |
| Fees for services: Accounting | $92,699 |
| Fees for services: Lobbying | $35,999 |
| Fees for services: Fundraising | $13,329 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $574,200 |
| Advertising and promotion | $0 |
| Office expenses | $22,187 |
| Information technology | $173,358 |
| Royalties | $0 |
| Occupancy | $36,760 |
| Travel | $75,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,485 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560 |
| Insurance | $24,143 |
| All other expenses | $0 |
| Total functional expenses | $3,296,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $567,036 |
| Savings and temporary cash investments | $2,223,516 |
| Pledges and grants receivable | $558,560 |
| Accounts receivable, net | $35,368 |
| 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 | $82,969 |
| Net Land, buildings, and equipment | $2,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,798 |
| Total assets | $3,501,048 |
| Accounts payable and accrued expenses | $107,685 |
| 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 | $28,233 |
| Total liabilities | $135,918 |
| Net assets without donor restrictions | $2,815,130 |
| Net assets with donor restrictions | $550,000 |
| 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 | $3,501,048 |
Grants Awarded
Over the last fiscal year, Institute For Advanced Clinical Trials For Children has awarded $130,437 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF CALIFORNIA IRVINE PURPOSE: ADMINISTRATIVE STARTUP FEE | $7,500 |
THE UNIVERSITY OF NEW MEXICO PURPOSE: TRANSFER DATA CONTRIBUTION AGREEMENT | $10,000 |
ANN & ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO PURPOSE: TRANSFER DATA CONTRIBUTION AGREEMENT | $47,740 |
CHILDREN'S MERCY KANSAS CITY PURPOSE: TRANSFER DATA CONTRIBUTION AGREEMENT | $55,197 |
DRISCOLL CHILDREN'S HOSPITAL PURPOSE: TRANSFER DATA CONTRIBUTION AGREEMENT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute For Advanced Clinical Trials For Children Rockville, MD | $3,501,048 | $1,463,891 |
Childrens Hospital Neonatal Consortium Inc Dover, DE | $3,198,339 | $2,863,149 |
The Center For Promotion Of Child Dvlpmt Through Primary Care Inc Baltimore, MD | $273,708 | $567,607 |
Ryan Scott Kappes Foundation Wilmington, DE | $72,274 | $0 |
Mary Claire Foundation Ingomar, PA | $91,447 | $270 |
Pediatric Cardiac Intensive Care Foundation Richmond, VA | $1,816 | $0 |