Foundation For The New England Medical Innovation Center
EIN: 822337450 · Providence, RI · NTEE: E03
| Metric | Value |
|---|---|
| Total Revenue | $724K |
| Total Expenses | $721K |
| Net Assets | $6K |
Is Foundation For The New England Medical Innovation Center Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Foundation For The New England Medical Innovation Center
Foundation For The New England Medical Innovation Center (EIN: 822337450) is a nonprofit organization based in Providence, RI, classified under NTEE code E03. The organization reported total revenue of $724K and total assets of $178K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For The New England Medical Innovation Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For The New England Medical Innovation Center is a small nonprofit that has been operating for 8 years, with 7 years of IRS 990 filings on record (2018–2024). Revenue has grown at a compound annual rate of 20.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $727K |
| Total Expenses | $721K |
| Surplus / Deficit | +$6K |
| Total Assets | $160K |
| Total Liabilities | $154K |
| Net Assets | $6K |
| Operating Margin | 0.8% |
| Debt-to-Asset Ratio | 96.4% |
| Months of Reserves | 2.7 months |
Financial Health Grade: B
In 2024, Foundation For The New England Medical Innovation Center reported a surplus of $6K with revenue exceeding expenses, holds 2.7 months of operating reserves (limited), has a debt-to-asset ratio of 96.4% (high leverage).
Financial Trends
Over 7 years of filings (2018–2024), Foundation For The New England Medical Innovation Center's revenue has grown at a compound annual growth rate (CAGR) of 20.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +6.3% | +4.7% | +218.5% |
| 2023 | +99.7% | +25.6% | -11.2% |
| 2022 | -43.9% | +26.6% | -75.3% |
| 2021 | +89.9% | +22.7% | +297.7% |
| 2020 | +8.3% | +8.3% | -44.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2018 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Foundation For The New England Medical Innovation Center has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation For The New England Medical Innovation Center with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $6K, with revenue exceeding expenses.
- Debt-to-asset ratio: 96.4%.
Frequently Asked Questions about Foundation For The New England Medical Innovation Center
Is Foundation For The New England Medical Innovation Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation For The New England Medical Innovation Center (EIN: 822337450) insufficient data. 0 red flags identified, 0 strengths noted.
How does Foundation For The New England Medical Innovation Center spend its money?
Detailed spending breakdown data is not yet available for Foundation For The New England Medical Innovation Center. Check back for updated IRS 990 analysis.
Are donations to Foundation For The New England Medical Innovation Center tax-deductible?
Foundation For The New England Medical Innovation Center is registered as a tax-exempt nonprofit (EIN: 822337450). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Foundation For The New England Medical Innovation Center located?
Foundation For The New England Medical Innovation Center is headquartered in Providence, Rhode Island and files with the IRS under EIN 822337450. It is classified under NTEE code E03.
How many years of IRS 990 filings does Foundation For The New England Medical Innovation Center have?
Foundation For The New England Medical Innovation Center has 7 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $724K in total revenue.
Filing History
IRS 990 filing history for Foundation For The New England Medical Innovation Center showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2018–2024), Foundation For The New England Medical Innovation Center's revenue has grown by 208%, moving from $236K to $727K. Total assets decreased by 28.8% over the same period, from $224K to $160K. Total functional expenses rose by 481.2%, from $124K to $721K. In its most recent filing year (2024), Foundation For The New England Medical Innovation Center reported a surplus of $6K, with revenue exceeding expenses. The organization holds $154K in liabilities against $160K in assets (debt-to-asset ratio: 96.4%), resulting in net assets of $6K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $727K | $721K | $160K | $154K | — | — |
| 2023 | $684K | $689K | $50K | $50K | — | — |
| 2022 | $343K | $548K | $57K | $35K | — | View 990 |
| 2021 | $611K | $433K | $229K | $3K | — | View 990 |
| 2020 | $322K | $353K | $58K | $9K | — | View 990 |
| 2019 | $297K | $326K | $103K | $23K | — | View 990 |
| 2018 | $236K | $124K | $224K | $116K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $727K, expenses of $721K, and assets of $160K (revenue +6.3% year-over-year).
- 2023: Revenue of $684K, expenses of $689K, and assets of $50K (revenue +99.7% year-over-year).
- 2022: Revenue of $343K, expenses of $548K, and assets of $57K (revenue -43.9% year-over-year).
- 2021: Revenue of $611K, expenses of $433K, and assets of $229K (revenue +89.9% year-over-year).
- 2020: Revenue of $322K, expenses of $353K, and assets of $58K (revenue +8.3% year-over-year).
- 2019: Revenue of $297K, expenses of $326K, and assets of $103K (revenue +25.8% year-over-year).
- 2018: Revenue of $236K, expenses of $124K, and assets of $224K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For The New England Medical Innovation Center:
Data Sources and Methodology
This transparency report for Foundation For The New England Medical Innovation Center is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.