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Nonprofiteer
← ADVANCIUM HEALTH NETWORK INC

Form 990 for tax year 2023

Filed by ADVANCIUM HEALTH NETWORK INC.

Totals

Total revenue
$16,967,337
Total expenses
$5,300,994
Contributions and grants received
$16,883,964
Grants paid
$1,053,494
Program service revenue
$0
Investment income
$1,015
Other revenue
$82,358
Total assets, end of year
$17,991,568
Total liabilities, end of year
$5,995,157
Net assets or fund balances, end of year
$11,996,411
Program services expenses (Part IX)
$2,317,774
Management and general expenses
$2,753,124
Fundraising expenses
$230,096
Program service expenses (Part III)
$2,317,774

Program services were 43.7% 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

    $16,883,964

  • 3 · Investment income

    total $1,068 · excluded $1,068

  • 7a · Gross sales of assets other than inventory

    securities $3,439

  • 7b · Less cost or other basis and sales expenses

    securities $3,492

  • 7c · Gain or loss

    securities -$53

  • 7d · Net gain or loss

    total -$53 · excluded -$53

  • 11a · Other revenue: EVENT SPONSORSHIPS

    total $82,358 · excluded $82,358

  • 11e · Other revenue, total

    $82,358

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,053,494 · program services $1,053,494

  • 5 · Compensation of officers, directors and key employees

    total $610,720 · management and general $610,720

  • 7 · Other salaries and wages

    total $781,455 · program services $432,155 · management and general $349,300

  • 8 · Pension plan contributions

    total $13,857 · program services $6,168 · management and general $7,689

  • 9 · Other employee benefits

    total $64,493 · program services $22,816 · management and general $41,677

  • 10 · Payroll taxes

    total $76,415 · program services $31,871 · management and general $44,544

  • 11b · Fees: legal

    total $700,516 · management and general $700,516

  • 11c · Fees: accounting

    total $119,777 · management and general $119,777

  • 11g · Fees: other

    total $356,659 · program services $59,675 · management and general $126,984 · fundraising $170,000

  • 12 · Advertising and promotion

    total $477,528 · program services $477,528

  • 13 · Office expenses

    total $28,328 · program services $2,202 · management and general $25,079 · fundraising $1,047

  • 14 · Information technology

    total $258,946 · program services $187,611 · management and general $71,335

  • 17 · Travel

    total $139,257 · program services $7,633 · management and general $105,767 · fundraising $25,857

  • 19 · Conferences, conventions and meetings

    total $127,115 · program services $20,224 · management and general $87,160 · fundraising $19,731

  • 23 · Insurance

    total $99,681 · management and general $99,681

  • 24a · Other expenses: SCIENTIFIC ADVISORY SER

    total $234,003 · management and general $234,003

  • 24b · Other expenses: ENVIRONMENTAL HEALTH &

    total $61,086 · management and general $61,086

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $29,700 · program services $9,821 · management and general $6,418 · fundraising $13,461

  • 24d · Other expenses: PAYROLL PROCESSING FEES

    total $14,864 · program services $6,576 · management and general $8,288

  • 24e · All other expenses

    total $53,100 · management and general $53,100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $90,389 · end of year $408,497

  • 2 · Savings and temporary cash investments

    beginning of year $16,089 · end of year $1,598,125

  • 4 · Accounts receivable

    beginning of year $0 · end of year $3,621,470

  • 9 · Prepaid expenses and deferred charges

    beginning of year $311,107 · end of year $326,479

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

    $12,036,997

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $12,036,997

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $87,517 · end of year $5,731,157

  • 18 · Grants payable

    beginning of year $0 · end of year $264,000

  • 27 · Net assets without donor restrictions

    beginning of year $330,068 · end of year $11,269,104

  • 28 · Net assets with donor restrictions

    end of year $727,307

Mission and programs · 2023

Mission

ADVANCIUM HEALTH NETWORK IS A MISSION-DRIVEN CHARITABLE ORGANIZATION COMMITTED TO ELIMINATING BARRIERS IN HEALTHCARE THROUGH A UNIQUE MODEL THAT COMBINES THE EXPERTISE OF FOR-PROFIT LEADERSHIP WITH NON-PROFIT MOTIVATIONS.

Activities or mission (Part I)

ADVANCIUM HEALTH NETWORK IS A MISSION-DRIVEN CHARITABLE ORGANIZATION COMMITTED TO ELIMINATING BARRIERS IN HEALTHCARE THROUGH A UNIQUE MODEL THAT COMBINES THE EXPERTISE OF FOR-PROFIT LEADERSHIP WITH NON-PROFIT MOTIVATIONS. THROUGH THE SUPPORT OF OUR PARTNERS, INDUSTRY EXPERTS, AND CHARITABLE DONORS, WE'RE TACKLING HEALTHCARE'S MOST CHALLENGING GAPS AND UNMET NEEDS ACROSS THE INDUSTRY - FROM EARLY-STAGE INNOVATION, TO PEDIATRICS AND RARE DISEASE. ADVANCIUM HEALTH NETWORK IS COMMITTED TO A POSITIVE IMPACT ON HUMAN HEALTH.

  • ADVANCIUM HEALTH NETWORK IS A MISSION-DRIVEN CHARITABLE ORGANIZATION COMMITTED TO ELIMINATING BARRIERS IN HEALTHCARE THROUGH A UNIQUE MODEL THAT COMBINES THE EXPERTISE OF FOR-PROFIT LEADERSHIP WITH NON-PROFIT MOTIVATIONS. THROUGH THE SUPPORT OF OUR PARTNERS, INDUSTRY EXPERTS, AND CHARITABLE DONORS, WE'RE TACKLING HEALTHCARE'S MOST CHALLENGING GAPS AND UNMET NEEDS ACROSS THE INDUSTRY - FROM EARLY-STAGE INNOVATION, TO PEDIATRICS AND RARE DISEASE. ADVANCIUM HEALTH NETWORK IS COMMITTED TO A POSITIVE IMPACT ON HUMAN HEALTH.

    Expenses $2,317,774 · Grants $1,053,494

As filed on the 2023 return.

Listed in Part VII

  • Mark Veich

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Kaplan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Olivier Elemento

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Laurie Zephyrin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michele Cleary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shawn Davis

    SVP & COO

    Total calculated
    $610,720
    From this org
    $584,175
    From related orgs
    $0
    Other
    $26,545
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $416,175
    Bonus
    $168,000
    Other
    $0
    Deferred
    $6,600
    Nontaxable benefits
    $19,945
    Filer's total
    $610,720

  • Constance Williams

    DIRECTOR, CIL (UNTIL 7/23)

    Total calculated
    $257,975
    From this org
    $243,309
    From related orgs
    $0
    Other
    $14,666
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,809
    Bonus
    $0
    Other
    $94,500
    Deferred
    $2,906
    Nontaxable benefits
    $11,760
    Filer's total
    $257,975

  • Emma Moran Evans

    DIRECTOR, COBICURE MEDTECH

    Total calculated
    $213,333
    From this org
    $197,394
    From related orgs
    $0
    Other
    $15,939
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,394
    Bonus
    $33,000
    Other
    $0
    Deferred
    $2,860
    Nontaxable benefits
    $13,079
    Filer's total
    $213,333

  • Jyoti Patel

    DIRECTOR, BUSINESS OPERATIONS & MARKETING

    Total calculated
    $185,623
    From this org
    $171,341
    From related orgs
    $0
    Other
    $14,282
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,572
    Bonus
    $28,769
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,282
    Filer's total
    $185,623

  • Lindsey Reynolds

    DIRECTOR, FINANCE

    Total calculated
    $113,400
    From this org
    $103,631
    From related orgs
    $0
    Other
    $9,769
    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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
ADVANCIUM IS COMMITTED TO FOSTERING A HEALTHY AND PRODUCTIVE WORK ENVIRONMENT FOR ITS EMPLOYEES. AS PART OF THIS COMMITMENT, THE ORGANIZATION PROVIDES HEALTH CLUB DUES FOR ITS STAFF. THIS EXPENSE IS REPORTED AS PART OF THE OVERALL COMPENSATION PACKAGE FOR EMPLOYEES, IN COMPLIANCE WITH IRS GUIDELINES. ADVANCIUM BELIEVES THAT INVESTING IN THE HEALTH OF ITS EMPLOYEES IS A STRATEGIC DECISION THAT ALIGNS WITH ITS MISSION AND OPERATIONAL GOALS.
PART I, LINE 4A
THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III): CONSTANCE WILLIAMS - $94,500
PART I, LINE 7
THE PRESIDENT PAID REASONABLE DISCRETIONARY BONUSES BASED ON STAFF PERFORMANCE DURING THE YEAR.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COBICURE LLC

    MEDICAL RESEARCH · NY · income $2,000,000 · assets $5,649,845

    Directly controlled by ADVANCIUM HEALTH NETWORK INC

  • CURE INNOVATION LABS LLC

    MEDICAL RESEARCH · NY · income $11,269,104 · assets $26,635,366

    Directly controlled by ADVANCIUM HEALTH NETWORK INC

  • LUKA SHAI FOUNDATION LLC

    MEDICAL RESEARCH · NY · income $533,108 · assets $582,651

    Directly controlled by ADVANCIUM HEALTH NETWORK INC

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443169349306064

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