THE MEDICAL DEVICE INNOVATION CONSORTIUM (EIN 461465348) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Principal Officer

ANDREW FISH

Phone

2028681600

Tax Period

2024-01-01 to 2024-12-31

MEDICAL DEVICE INNOVATION CONSORTIUM, founded in 2012, is a community nonprofit in the Medical Research sector that reported $6.9M in total revenue in fiscal year 2018. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 24% operating margin.

Mission

MDIC'S MISSION IS TO LEVERAGE ITS UNIQUE POSITION AS THE ONLY PUBLIC-PRIVATE PARTNERSHIP OF ITS KIND TO TRANSFORM HEALTH CARE INTO HUMAN CARE. COLLABORATING WITH OUR PARTNERS TO ADVANCE SCIENCE, WE ENABLE TRANSFORMATIONAL MEDICAL TECHNOLOGY TO SHAPE THE WORLD WE WANT TO LIVE IN AND MAKE THAT WORLD POSSIBLE BY SHORTENING THE PATH FROM INNOVATION TO SAFETY TO ACCESS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $22,684,960

Program Service Revenue $5,459,148

Investment Income $27,223

Other Revenue $0

TOTAL REVENUE $28,171,331

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,822,363

Fundraising Expenses $0

Program Expenses $22,938,866

Other Expenses $17,325,081

TOTAL EXPENSES $28,147,444

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,171,331	$14,899,712	+0.9%
Expenses	$28,147,444	$15,639,936	+0.8%
Net Income	$23,887	$-740,224	-1.0%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$1,577,087

Total Directors

Key Employees

$2,145,547

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LUCILE BLAISE	DIRECTOR	1.00	Director	$0	$0	$0
WES CETNAROWSKI	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW CLEELAND	DIRECTOR	1.00	Director	$0	$0	$0
STEVE FERGUSON	DIRECTOR	1.00	Director	$0	$0	$0
RICK GEOFFRION	DIRECTOR	1.00	Director	$0	$0	$0
CHIP HANCE	DIRECTOR	2.00	Director	$0	$0	$0
JIM HOLLINGSHEAD	DIRECTOR	1.00	Director	$0	$0	$0
JIJO JAMES	DIRECTOR	1.00	Director	$0	$0	$0
TAMARA SYREK JENSESN	DIRECTOR	1.00	Director	$0	$0	$0
GARY JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
KRIS KANDARPA	DIRECTOR	1.00	Director	$0	$0	$0
ESTHER KROFAH	DIRECTOR	1.00	Director	$0	$0	$0
TRANG LY	DIRECTOR	1.00	Director	$0	$0	$0
LAURA MAURI	DIRECTOR	1.00	Director	$0	$0	$0
JODY POWELL	DIRECTOR	1.00	Director	$0	$0	$0
RANDY RUTTA	DIRECTOR	1.00	Director	$0	$0	$0
PETER SALTONSTALL	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN SAYER	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY SHUREN	DIRECTOR	1.00	Director	$0	$0	$0
AMI SIMUNOVICH	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH STEIN	DIRECTOR	1.00	Director	$0	$0	$0
NADIM YARED	DIRECTOR	1.00	Director	$0	$0	$0
FISH ANDREW	PRESIDENT & CEO	40.00	Officer	$832,122	$82,297	$914,419
ONORATO KARA	CHIEF FINANCIAL AND BUSINESS OFFICER	40.00	Officer	$290,747	$38,102	$328,849
FAULCON LENWOOD	CHIEF LEGAL OFFICER	40.00	Officer	$283,281	$50,538	$333,819
MASON SIMON	CHIEF ENTERPRISE OFFICER AND PRESIDENT OF NEST	40.00	Key Emp	$538,575	$67,597	$606,172
SAPIENTE JOSEPH RAYMOND	CHIEF SCIENCE AND INNOVATION OFFICER	40.00	Key Emp	$326,869	$54,702	$381,571
SMITH RICHARD	SENIOR VICE PRESIDENT, NESTCC	40.00	Key Emp	$300,081	$52,877	$352,958
KOTLARZ HARRY	HEAD OF PATIENT ENGAGEMENT AND EVIDENCE	40.00	Key Emp	$259,677	$26,146	$285,823
HENRY LATARA	VICE PRESIDENT, HUMAN CAPITAL	40.00	Key Emp	$231,361	$36,826	$268,187
VICTORIA MATTHEW R	VICE PRESIDENT, BRAND AND EXPERIENCE	40.00	Key Emp	$201,881	$48,955	$250,836
MAEGLEY CORINNE	VICE PRESIDENT, PARTNERSHIPS MANAGEMENT, NEST	40.00	Highest	$219,076	$34,907	$253,983
VELICHAMTHOTU VEETIL JITHESH	HEAD OF DIGITAL HEALTH TECHNOLOGY	40.00	Highest	$218,386	$48,822	$267,208
SUMNER PAUL L	HEAD OF MANUFACTURING, INNOVATION AND QUALITY	40.00	Highest	$215,537	$38,363	$253,900
WEISS LISA	SENIOR DIRECTOR OF EVALUATION & SURVEILLANCE	40.00	Highest	$201,336	$26,356	$227,692
CULOTTA MARYELLEN CULOTTA	HEAD, CENTER FOR MANUFACTURING INNOVATION	40.00	Highest	$192,861	$48,429	$241,290

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
2024	$28,171,331	$28,147,444	$11,814,781	$23,887
2023	$14,899,712	$15,639,936	$11,871,420	$-740,224
2022	$10,710,909	$14,247,437	$11,514,040	$-3,536,528
2021	$16,908,156	$15,430,460	$8,765,414	$1,477,696
2020	$21,447,770	$19,600,873	$6,445,785	$1,846,897
2019	$7,566,860	$7,683,893	$4,143,598	$-117,033
2018	$6,896,963	$5,254,566	$3,743,346	$1,642,397

THE MEDICAL DEVICE INNOVATION CONSORTIUM