Form5 Prosthetics Inc
- Assets
- $247.8k
- Revenue
- $273.9k
- Investments
- $0.0
- Employees
- 4
- Location
- New Albany, OH
- Founding
- 02/2018
- Data as of
- 12/2022
- EIN
- 82-3555210
Organization Overview
Form5 Prosthetics Inc is located in New Albany, OH. The organization was established in 2018. According to its NTEE Classification (E50) the organization is classified as: Rehabilitative Care, under the broad grouping of Health Care and related organizations. As of 12/2022, Form5 Prosthetics Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Form5 Prosthetics 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 12/2022, Form5 Prosthetics Inc generated $273.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 48.2% each year . All expenses for the organization totaled $132.8k during the year ending 12/2022. While expenses have increased by 43.4% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERING PEOPLE TO SUCCESSFULLY INTERACT WITH THEIR WORLD AND THEIR FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROSTHETICS - PROVIDING ECO-FRIENDLY DEVICES TO THE LIMB DIFFERENT COMMUNITY AT LOW OR NO COST.
EDUCATIION PROGRAMS. EVENTS THAT PAIRS RECIPIENTS TO ENGINEERS, STUDENTS, AND OTHER VOLUNTEERS TO CO-CREATE CUSTOM APPLICATION PROSTHETICS.
RESEARCH AND DEVELOPMENT. FORM5 BUILDS INTERDISCIPLINARY TEAMS OF SPECIALISTS THAT RESEARCH & DEVELOP MEDICAL AND RECREATIONAL DEVICES. FORM5 HAS A PATENT PENDING FOR ITS BIKE ARM ADAPTER AS OF 12/31/2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Westbrook Founder/ CEO | OfficerTrustee | 40 | $36,285 |
Kaylynn Lorenz Treasurer | OfficerTrustee | 1 | $0 |
Libin Babu Board Member | Trustee | 1 | $0 |
Jennifer Horvath Vice Chair | OfficerTrustee | 1 | $0 |
Dr Raymond Wurapa Board Member | Trustee | 1 | $0 |
Jay Perkins Board Member | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,286 |
| All other contributions, gifts, grants, and similar amounts not included above | $269,465 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,751 |
| Total Program Service Revenue | $0 |
| Investment income | $1,183 |
| 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 | $273,934 |
| 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. | $36,284 |
| Compensation of current officers, directors, key employees. | $18,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,057 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,641 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,526 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,954 |
| Travel | $39 |
| 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 | $10,691 |
| Insurance | $1,213 |
| All other expenses | $2,518 |
| Total functional expenses | $132,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,149 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $98,642 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $247,791 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $247,791 |
| 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 | $247,791 |