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← INITIATIVE FOR MEDICINES ACCESS &KNOWLEDGE I-MAK INC

Form 990 for tax year 2023

Filed by INITIATIVE FOR MEDICINES ACCESS &KNOWLEDGE I-MAK INC.

Totals

Total revenue
$2,921,379
Total expenses
$1,670,896
Contributions and grants received
$2,921,161
Grants paid
$0
Program service revenue
$200
Investment income
$18
Other revenue
$0
Total assets, end of year
$4,371,767
Total liabilities, end of year
$117,875
Net assets or fund balances, end of year
$4,253,892
Program services expenses (Part IX)
$1,260,564
Management and general expenses
$285,206
Fundraising expenses
$125,126
Program service expenses (Part III)
$1,260,564

Program services were 75.4% 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.

  • 1f · All other contributions, gifts and grants

    $2,921,161

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $200 · related or exempt $200

  • 3 · Investment income

    total $18 · excluded $18

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $473,640 · program services $379,254 · management and general $30,616 · fundraising $63,770

  • 7 · Other salaries and wages

    total $193,323 · program services $185,554 · management and general $4,212 · fundraising $3,557

  • 9 · Other employee benefits

    total $1,630 · program services $1,380 · management and general $85 · fundraising $165

  • 10 · Payroll taxes

    total $47,974 · program services $40,626 · management and general $2,505 · fundraising $4,843

  • 11b · Fees: legal

    total $6,154 · management and general $6,154

  • 11c · Fees: accounting

    total $121,129 · management and general $121,129

  • 11g · Fees: other

    total $477,117 · program services $309,867 · management and general $118,063 · fundraising $49,187

  • 13 · Office expenses

    total $21,993 · program services $19,258 · management and general $1,311 · fundraising $1,424

  • 14 · Information technology

    total $44,229 · program services $42,676 · management and general $530 · fundraising $1,023

  • 16 · Occupancy

    total $2,696 · program services $2,282 · management and general $142 · fundraising $272

  • 17 · Travel

    total $62,335 · program services $62,335

  • 19 · Conferences, conventions and meetings

    total $126,413 · program services $126,413

  • 23 · Insurance

    total $8,770 · program services $7,426 · management and general $459 · fundraising $885

  • 24a · Other expenses: PUBLIC EDUCATION

    total $83,493 · program services $83,493

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,267,516 · end of year $4,018,461

  • 2 · Savings and temporary cash investments

    beginning of year $5,028 · end of year $5,046

  • 3 · Pledges and grants receivable

    beginning of year $825,016 · end of year $285,000

  • 4 · Accounts receivable

    beginning of year $30,148 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,064 · end of year $63,260

  • 17 · Accounts payable and accrued expenses

    beginning of year $140,363 · end of year $117,875

  • 27 · Net assets without donor restrictions

    beginning of year $1,927,634 · end of year $3,957,081

  • 28 · Net assets with donor restrictions

    beginning of year $1,075,775 · end of year $296,811

Mission and programs · 2023

Mission

FROM DRUG DEVELOPMENT TO DRUG AFFORDABILITY, THE MEDICINES SYSTEM AFFECTS WHO LIVES AND WHO DIES. THROUGH RESEARCH, EDUCATION, AND PARTNERSHIPS, I-MAK ADVANCES SOLUTIONS TO ADDRESS STRUCTURAL INEQUITY IN THE MEDICINES SYSTEM.

Activities or mission (Part I)

TO BUILD A MORE JUST AND EQUITABLE MEDICINES SYSTEM FOR ALL.

  • SEE SCHEDULE O

    Expenses $1,260,564 · Revenue $200

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lara Galinsky

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Renu Saini

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Monica Mehta

    SECRETARY (THRU MARCH 2023)

    Total calculated
    $0
    Hours/week
    1

  • Kayum Ahmed

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Scott Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Ekeruo

    DIRECTOR, SECRETARY (FROM APRIL 2023)

    Total calculated
    $0
    Hours/week
    1

  • Priti Krishtel Thru June 2023

    CO-FOUNDER/CO-EXECUTIVE DIRECTOR

    Total calculated
    $101,376
    From this org
    $93,020
    From related orgs
    $0
    Other
    $8,356
    Hours/week
    40

  • Tahir Amin

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $223,031
    From this org
    $206,623
    From related orgs
    $0
    Other
    $16,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,623
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,408
    Filer's total
    $223,031

  • Andrew McDonald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martine Hughey

    CHIEF OPERATING OFFICER

    Total calculated
    $149,233
    From this org
    $145,390
    From related orgs
    $0
    Other
    $3,843
    Hours/week
    40

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

  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
27 September 2024
IRS schema version
2023v5.1
Source object
202432749349301258

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