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Nonprofiteer
← REGENMED DEVELOPMENT ORGANIZATION

Form 990 for tax year 2022

Filed by REGENMED DEVELOPMENT ORGANIZATION.

Totals

Total revenue
$985,996
Total expenses
$1,017,608
Contributions and grants received
$985,996
Grants paid
$836,117
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,206,554
Total liabilities, end of year
$3,226,722
Net assets or fund balances, end of year
-$20,168
Program services expenses (Part IX)
$1,010,814
Management and general expenses
$6,794
Fundraising expenses
$0
Program service expenses (Part III)
$1,010,814

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $985,996

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $836,117 · program services $836,117

  • 5 · Compensation of officers, directors and key employees

    total $17,803 · program services $17,803

  • 7 · Other salaries and wages

    total $56,175 · program services $56,175

  • 9 · Other employee benefits

    total $16,229 · program services $16,229

  • 11g · Fees: other

    total $45,931 · program services $39,327 · management and general $6,604

  • 13 · Office expenses

    total $1,671 · program services $1,481 · management and general $190

  • 22 · Depreciation, depletion and amortization

    total $10,661 · program services $10,661

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $33,021 · program services $33,021

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,296,747 · end of year $2,860,291

  • 4 · Accounts receivable

    beginning of year $611,259 · end of year $346,263

  • 10a · Land, buildings and equipment: cost or other basis

    $213,222

  • 10b · Land, buildings and equipment: accumulated depreciation

    $213,222

  • 10c · Land, buildings and equipment, net

    beginning of year $10,661 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,907,223 · end of year $3,226,722

  • 27 · Net assets without donor restrictions

    beginning of year $11,444 · end of year -$20,168

Mission and programs · 2022

Mission

THE MISSION OF THE ORGANIZATION IS TO ACCELERATE THE DISCOVERY AND DEVELOPMENT OF APPLICATIONS OF NEW THERAPIES FOR DISEASE AND TRANSLATE THOSE THERAPIES INTO TREATMENTS FOR PATIENTS THROUGH THE SCIENCE OF REGENERATIVE MEDICINE. THE ORGANIZATION FOCUSES ON OBTAINING FEDERAL AND OTHER GRANT FUNDS AND WORKING WITH OTHER ORGANIZATIONS DEVELOPING REGENERATIVE MEDICINE AND PRODUCTS TO ACCOMPLISH ITS MISSION.

Activities or mission (Part I)

ADVANCING REGENERATIVE MEDICINE TECHNOLOGIES

  • THE REGENMED DEVELOPMENT ORGANIZATION (REMDO) CONDUCTS RESEARCH TO DE-RISK TECHNOLOGIES AND SPEED UP THE TRANSLATION OF REGENERATIVE MEDICINE TECHNOLOGIES TO CLINICAL PRACTICE. REMDO WAS AWARDED FUNDING FOR PROJECTS AIMED AT ACCELERATING MANUFACTURING INNOVATION FOR REGENERATIVE MEDICINE PRODUCTS. REMDO HAS ASSEMBLED A CONSORTIUM COMPRISED OF WORLD CLASS LEADERS IN REGENERATIVE MEDICINE RESEARCH AND DEVELOPMENT, BOTH COMMERCIAL AND ACADEMIC, TO EXECUTE ON ADVANCED BIOMANUFACTURING INITIATIVES. THE FUNDING WAS RECEIVED FROM THE MEDICAL TECHNOLOGY ENTERPRISE CONSORTIUM, A DEPARTMENT OF DEFENSE-FUNDED NONPROFIT ENTITY FORMED TO CONDUCT RESEARCH AND PROTOTYPING TO SUPPORT THE US ARMY MEDICAL RESEARCH AND MATERIEL COMMAND.

    Expenses $1,010,814 · Grants $836,117

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Anthony Atala MD

    CHAIR

    Total calculated
    $1,597,631
    From this org
    $0
    From related orgs
    $1,374,790
    Other
    $222,841
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $919,826 related
    Bonus
    $0 + $259,920 related
    Other
    $0 + $195,044 related
    Deferred
    $0 + $188,361 related
    Nontaxable benefits
    $0 + $34,480 related
    Filer's total
    $0 + $1,597,631 related

  • J Reid Morgan

    DIRECTOR & ASST SECRETARY

    Total calculated
    $789,953
    From this org
    $0
    From related orgs
    $647,740
    Other
    $142,213
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $551,895 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $20,845 related
    Deferred
    $0 + $105,500 related
    Nontaxable benefits
    $0 + $36,713 related
    Filer's total
    $0 + $789,953 related

  • Terry L Hales Jr

    VICE CHAIR & TREASURER

    Total calculated
    $965,665
    From this org
    $0
    From related orgs
    $819,018
    Other
    $146,647
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $493,678 related
    Bonus
    $0 + $222,723 related
    Other
    $0 + $102,617 related
    Deferred
    $0 + $115,923 related
    Nontaxable benefits
    $0 + $30,724 related
    Filer's total
    $0 + $965,665 related

  • Terry G Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 39.9 related

  • Julie M Watson

    DIRECTOR & SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 19.5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION PARTICIPATED IN AND/OR RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN (RESTORATION OR SERP). THE DETERMINATION OF THE PAYMENT AMOUNT FROM THE NON-QUALIFIED DEFERRED COMPENSATION PLANS FOLLOWED THE EMPLOYMENT ORGANIZATION'S COMPENSATION PROCEDURES. THE FOLLOWING DIRECTORS AND OFFICERS RECEIVED PAYMENTS FROM NON-QUALIFIED DEFERRED COMPENSATION PLANS DURING THE CURRENT TAX YEAR: ANTHONY ATALA, M.D. $170,000 TERRY L. HALES, JR. $81,185 J. REID MORGAN $75,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • VERGER FUND II LLC

    INVESTMENT · NC

  • WAKE FOREST TECHNOLOGY DEVELOPMENT PROGRAM LP

    INVESTMENT · NC

  • WAKE FOREST AMBULATORY VENTURES LLC

    HEALTHCARE · NC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NORTH DISTRICT OWNERS ASSOCIATION

    C · PROPERTY OWNERS ASSOCIATION · NC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349305684

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