Rems Industry Consortium Inc
- Assets
- $151.7k
- Revenue
- $685.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Mount Laurel, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 87-2975064
Organization Overview
Rems Industry Consortium Inc is located in Mount Laurel, NJ. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rems Industry Consortium Inc 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 12/2023, Rems Industry Consortium Inc generated $685.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 31.7% each year . All expenses for the organization totaled $589.5k during the year ending 12/2023. While expenses have increased by 28.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING PATIENT SAFETY AND MEDICATION ACCESS THROUGH REMS INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REMS INDUSTRY CONSORTIUM FOSTERS COLLABORATION AND INNOVATION TO ADVANCE PATIENT SAFETY, APPROPRIATE ACCESS, AND BEST PRACTICES IN REMS-RELATED DRUG AND BIOLOGIC RISK MANAGEMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Holman Chairperson | OfficerTrustee | 1 | $0 |
Kishore Gopu Vice Chairperson (from 5/18/23) | OfficerTrustee | 1 | $0 |
Sherice Mills Vice Chairperson (until 4/20/23) | OfficerTrustee | 1 | $0 |
Kal Elhoregy Treasurer | OfficerTrustee | 1 | $0 |
Kishore Gopu Secretary (until 5/18/23) | OfficerTrustee | 1 | $0 |
Michael Cheung Secretary (from 5/18/23) | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Buchanan Ingersoll & Rooney Management Services | 12/30/23 | $380,000 |
Association Headquarters Inc Management Company | 12/30/23 | $117,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $685,242 |
| Investment income | $0 |
| 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 | $685,242 |
| 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. | $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 | $360,000 |
| Fees for services: Legal | $0 |
| 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 | $250 |
| Office expenses | $500 |
| Information technology | $4,902 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,591 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $197,138 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,333 |
| Insurance | $8,729 |
| All other expenses | $0 |
| Total functional expenses | $589,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,197 |
| 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 | $64,159 |
| Net Land, buildings, and equipment | $8,333 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $151,689 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $17,665 |
| 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 | $17,665 |
| Net assets without donor restrictions | $134,024 |
| 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 | $151,689 |