Medtech Color
- Assets
- $634.0k
- Revenue
- $613.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 04/2019
- Data as of
- 12/2023
- EIN
- 83-0543603
Organization Overview
Medtech Color is located in Sacramento, CA. The organization was established in 2019. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medtech Color 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, Medtech Color generated $613.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.5% each year . All expenses for the organization totaled $653.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Medtech Color has awarded 12 individual grants totaling $395,000. 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
TO BUILD A COHESIVE COMMUNITY OF LEADERS OF COLOR IN MEDTECH, INCREASE THE NUMBER OF UNDERREPRESENTED EXECUTIVES WHO ENTER AND STAY IN THE INDUSTRY AND DRIVE THOUGHT LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLABORATIVE COMMUNITY MEDTECH COLOR HAS CONVENED THIS COLLABORATIVE COMMUNITY TO CREATE A FORUM WHERE MEDTECH PROFESSIONALS AND OTHER STAKEHOLDERS CAN ADDRESS MINORITY HEALTH ISSUES IN MEDICAL DEVICE PRODUCT DEVELOPMENT AND CLINICAL RESEARCH. WE DEVELOP STRATEGIES, RESOURCES, BEST PRACTICES AND THOUGHT LEADERSHIP TO INCREASE AWARENESS AND MITIGATE THE IMPACT OF UNCONSCIOUS BIAS, SOCIAL DETERMINANTS OF HEALTH AND LACK OF INCLUSION OR CONSIDERATION OF RACIAL AND ETHNIC MINORITIES IN CRITICAL ASPECTS OF THE PRODUCT DEVELOPMENT LIFECYCLE.
PITCH COMPETITION AND PITCH365 MEDTECH COLOR PITCH COMPETITION IS A FOUNDATIONAL START OF MEDICAL TECHNOLOGY EARLY-STAGE STARTUPS CREATING INNOVATIVE TECHNOLOGIES. INNOVATIVE STARTUPS TAKE THE STAGE OF A VIRTUAL COMPETITION TO SHOWCASE THEIR PRODUCTS OR SERVICES THAT WILL DIRECTLY BENEFIT PATIENTS, AND TELL THEIR STORY. PITCH365 PROVIDES YEAR-ROUND ACCESS TO RESOURCES DESIGNED TO SUPPORT MINORITY-FOUNDED, UNDERFUNDED STARTUPS FROM IDEATION TO THE CONSUMER MARKET, AND CREATE A DEPENDABLE, EMPATHETIC COMMUNITY OF MEDTECH LEADERS DEDICATED TO THEIR START-UPS ONGOING SUCCESS.
MEDTECH COLOR OPERATIONS MEDTECH COLOR AIMS TO ADVANCE THE REPRESENTATION OF PERSONS OF COLOR IN THE MEDICAL DEVICE INDUSTRY AND BUILD A COMMUNITY OF LEADERS OF COLOR. THE OPERATIONAL PROGRAM INCLUDES A SERIES OF EVENTS THAT BUILD A COMMUNITY TO PROMOTE SUCH REPRESENTATION IN THE MEDICAL DEVICE INDUSTRY. SUCH EVENTS INCLUDE THE NETWORKING BREAKFAST, MEDTECH WOMEN, WEBINARS, COMMUNITY ENGAGEMENTS, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheyne Stennis Director Of Operations | Officer | 40 | $118,792 |
Vernessa Pollard Secretary | OfficerTrustee | 4 | $0 |
Nada Hanafi Treasurer | OfficerTrustee | 4 | $0 |
Kwame Ulmer President | OfficerTrustee | 4 | $0 |
Katrina Holland Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,675 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $591,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $618,150 |
| Total Program Service Revenue | $0 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,398 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $613,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $187,775 |
| 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. | $118,053 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $138,888 |
| Fees for services: Legal | $3,942 |
| Fees for services: Accounting | $7,423 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,804 |
| Advertising and promotion | $51,199 |
| Office expenses | $5,359 |
| Information technology | $2,690 |
| Royalties | $0 |
| Occupancy | $2,063 |
| Travel | $12,021 |
| 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 | $0 |
| All other expenses | $128 |
| Total functional expenses | $653,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,932 |
| Savings and temporary cash investments | $100,050 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $633,982 |
| 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 | $633,982 |
| 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 | $633,982 |
Grants Awarded
Over the last fiscal year, Medtech Color has awarded $180,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BACKPACK HEALTH PURPOSE: Pitch Competition Winner | $80,000 |
JUNEBRAIN PURPOSE: Pitch Competition Winner | $50,000 |
NAVIGATE MATERNITY PURPOSE: Pitch Competition Winner | $25,000 |
TANZEN MEDICAL PURPOSE: Pitch Competition Winner | $25,000 |