Elevatemed Inc
- Assets
- $522.0k
- Revenue
- $462.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Scottsdale, AZ
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 83-3557457
Organization Overview
Elevatemed Inc is located in Scottsdale, AZ. The organization was established in 2019. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elevatemed 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 12/2021, Elevatemed Inc generated $462.4k in total revenue. All expenses for the organization totaled $296.4k during the year ending 12/2021. While expenses have increased by 230.0% per year over the past 4 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
PROVIDE FINANCIAL ASSISTANCE AND MENTORING TO MEDICAL STUDENTS FROM RACIAL AND ETHNIC BACKGROUNDS TRADITIONALLY UNDERREPRESENTED IN MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEVATEMED WAS DEVELOPED OUT OF THE NEED TO ELEVATE MEDICINE TO AN IDEAL WHERE THE PHYSICIAN WORKFORCE RACIALLY AND ETHNICALLY REPRESENTS THE COMMUNITY SERVED. WE INTEND TO ACHIEVE THIS BY PROVIDING SIGNIFICANT FINANCIAL ASSISTANCE TO MEDICAL STUDENTS WHILE PROVIDING THEM ACCESS TO MENTORSHIP, LEADERSHIP TRAINING, AND FINANCIAL MANAGEMENT EDUCATION. IN 2021 ELEVATEMED INC. GAVE OVER 225,000 IN SCHOLARSHIPS AND SUPPORT TO 20 MEDICAL STUDENTS FROM UNDERREPRESENTED BACKGROUNDS. WE HELD OUR FIRST ANNUAL SCHOLAR SUMMIT WHICH INCLUDED PERSONALIZED WORKSHOPS FOR THE MEDICAL STUDENTS REGARDING THEIR CAREER DEVELOPMENT. WE PROVIDED ONLINE RESOURCES AND DATA REGARDING HEALTH DISPARITIES IN THE UNITED STATES FOR OUR ONLINE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Umphrey MD Board Chair | OfficerTrustee | 2 | $0 |
Alyx Porter Umphrey MD Faan Exec Director | OfficerTrustee | 8 | $0 |
Tiffany Hardaway MD Ms Secretary | OfficerTrustee | 2 | $0 |
Patrick Brooks CPA Treasurer | OfficerTrustee | 2 | $0 |
Marissa Vasquez MD MBA Board Vice Chair | OfficerTrustee | 2 | $0 |
Bert Vargas MD Fahs Faan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $151,897 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $320,011 |
| Noncash contributions included in lines 1a–1f | $5,705 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $471,908 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,992 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $430 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $462,373 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $225,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,412 |
| Advertising and promotion | $1,500 |
| Office expenses | $7,875 |
| Information technology | $1,508 |
| 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 | $4,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $252 |
| All other expenses | $0 |
| Total functional expenses | $296,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,949 |
| Savings and temporary cash investments | $226,561 |
| Pledges and grants receivable | $57,882 |
| 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 | $1,337 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250 |
| Total assets | $521,979 |
| 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 | $521,979 |
| 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 | $521,979 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Elevatemed Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Fjc New York, NY PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Mayo Clinic Group Return Rochester, MN PURPOSE: SUPPORT CHARITABLE PURPOSE | $10,000 |
Mayo Clinic Rochester, MN PURPOSE: SUPPORT CHARITABLE PURPOSE | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
System Management Group San Diego, CA | $174,665,064 | $68,599,184 |
American Charter Schools Foundation Phoenix, AZ | $87,939,377 | $45,500,400 |
Salesforce Com Foundation San Francisco, CA | $419,674,142 | $105,083,193 |
Foundation For Grossmont And Cuyamaca Colleges El Cajon, CA | $30,579,750 | $41,100,641 |
Archival Foundation Beverly Hills, CA | $70,496,412 | $21,253,596 |
Provenance Duarte, CA | $16,793,106 | $20,000,682 |
Spark Sf Public Schools San Francisco, CA | $15,254,604 | $27,199,561 |
Great Public Schools Now Los Angeles, CA | $20,013,399 | $15,067,311 |
Institute For Supply Management Inc Tempe, AZ | $18,812,365 | $12,909,076 |
Gladstone Foundation San Francisco, CA | $27,923,141 | $22,078,581 |
George Lucas Educational Foundation San Rafael, CA | $6,425,809 | $14,665,129 |
Nmc Inc Los Alamos, NM | $8,318,653 | $11,151,295 |