INNOVATIONS IN HEALTHCARE INC

EIN: 320358709 501(c)(3) Education

DURHAM, NC

Total Revenue
$733,707
Total Expenses
$930,944
Total Assets
$607,723
Net Assets
$600,447
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
NC
Principal Officer
KRISHNAKUMAR UDAYAKUMAR
Phone
9196842006
Tax Period
2023-07-01 to 2024-06-30

INNOVATIONS IN HEALTHCARE INC, founded in 2011, is a small nonprofit in the Education sector that reported $734K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $931K exceeded revenue, resulting in a 27% operating deficit.

Mission

FOR ORGANIZATION'S MISSION STATEMENT.PROMOTE GLOBAL ACCESS TO COST-EFFECTIVE AND HIGH-QUALITY HEALTHCARE. FACILITATE AND ENCOURAGE THE BROAD AND PROMPT DISSEMINATION OF DATA AND INFORMATION RELATING TO INNOVATIVE HEALTHCARE SOLUTIONS AROUND THE WORLD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $260,713
Program Service Revenue $472,994
Investment Income $0
Other Revenue $0
TOTAL REVENUE $733,707

Expense Breakdown

Grants Paid $0
Salaries & Benefits $190,565
Fundraising Expenses $21,021
Program Expenses $596,300
Other Expenses $740,379
TOTAL EXPENSES $930,944

Year-over-Year Comparison

2023 2022 Change
Revenue $733,707 $1,356,330 -0.5%
Expenses $930,944 $1,183,657 -0.2%
Net Income $-197,237 $172,673 -2.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$1,006,726
Total Directors
7
$1,948,638
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS BEYRER DIRECTOR 0.10
Director
$0 $33,573 $569,525
SHYAM BISHEN DIRECTOR 0.10
Director
$0 $0 $0
VICTOR J DZAU DIRECTOR 0.10
Director
$0 $0 $0
NICOLAUS HENKE DIRECTOR 0.10
Director
$0 $0 $0
MARK MCCLELLAN DIRECTOR 0.10
Director
$0 $63,737 $548,814
SUSANNA NAGGIE DIRECTOR 0.10
Director
$0 $62,537 $432,122
KRISHNAKUMAR UDAYAKUMAR DIRECTOR/PRESIDENT 0.10
Officer Director
$0 $57,488 $398,177
LISA BOURGET VICE PRESIDENT/SECRETARY 0.10
Officer
$0 $40,774 $263,546
KATHRYN THORNSVARD TREASURER 0.10
Officer
$0 $50,949 $345,003
LISA VARANI FORMER OFFICER 0.00
$0 $66,135 $323,770
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $733,707 $930,944 $607,723 $-197,237
2023 $1,356,330 $1,183,657 $892,184 $172,673
2023 $1,356,330 $1,183,657 $892,184 $172,673
2022 $1,138,318 $988,705 $948,602 $149,613
2021 $1,334,750 $1,453,735 $1,099,133 $-118,985
2020 $955,464 $954,592 $1,533,432 $872
2019 $955,116 $971,685 $647,706 $-16,569
2018 $806,305 $684,102 $664,275 $122,203
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