THE CALIFORNIA MEDICAL INNOVATIONS… - Form 990 Financial Data

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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

2013

Legal Domicile

Principal Officer

Ghassan Kassab

Phone

8582497407

Tax Period

2023-01-01 to 2023-12-31

THE CALIFORNIA MEDICAL INNOVATIONS INSTITUTE INC, founded in 2013, is a community nonprofit in the Education sector that reported $6.1M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum.

Mission

The Institute is a scientific research center dedicated to conducting basic and applied research to advance the understanding of human disease and the improvement of human health. The Institute fosters an innovative research environment with a multidisciplinary and collaborative approach to the discovery process - bringing together physical and life science researchers, clinicians, engineers/ and computational scientists to address the significant health care challenges of heart and vascular disease, obesity, and metabolic disorders through a multi-scale understanding of organ systems. Institute researchers have expertise in both experimental and computational disciplines. The former utilizes the experimental reductionist approach to dissect the biological system into its molecular, cellular and tissue components. The latter use a computational integrative approach to synthesize the parts using laws of physics and chemistry to understand the whole organ. The Institutes multi-discipline

Program Service Accomplishments

Program 1

Expenses: $5,781,488 Revenue: $290,584

THE INSTITUTE HAS MADE SUBSTANTIAL PROGRESS IN MORE FULLY UNDERSTANDING, ANDDEVELOPING DIAGNOSTIC AND THERAPEUTIC APPROACHES FOR THE MULTIPLE ASPECTS OF HEART FAILURE. THE INSTITUTE HAS ALSO MADE...

THE INSTITUTE HAS MADE SUBSTANTIAL PROGRESS IN MORE FULLY UNDERSTANDING, ANDDEVELOPING DIAGNOSTIC AND THERAPEUTIC APPROACHES FOR THE MULTIPLE ASPECTS OF HEART FAILURE. THE INSTITUTE HAS ALSO MADE SIGNIFICANT PROGRESS IN THE UNDERSTANDING ANDTREATMENT OF VASCULAR DISEASE, INCLUDING WORK ADVANCING NEXT GENERATION DIAGNOSTICSFOR CORONARY AND PERIPHERAL ARTERY DISEASE AND THERAPEUTICS FOR NEO-VASCULARIZATION OF VEINS, BIOMATERIAL TISSUE CONSTRUCTS TO REPLACE ARTERIES OR VEINS, AND PERCUTANEOUS PROSTHETIC VENOUS VALVES TO TREAT CHRONIC VENOUS INSUFFICIENCY. DURING THE YEAR, THE RESEARCH STAFF AT THE INSTITUTE REGULARLY PRESENTED ITS SCIENTIFIC FINDINGS TO THE PUBLIC VIA PANELS, LECTURES, PUBLICATIONS, AND OTHER SIMILAR PROGRAMS.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,755,723

Program Service Revenue $290,584

Investment Income $18,383

Other Revenue $855

TOTAL REVENUE $6,065,545

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,483,128

Fundraising Expenses $0

Program Expenses $5,781,488

Other Expenses $4,060,877

TOTAL EXPENSES $6,544,005

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,065,545	$4,347,402	+0.4%
Expenses	$6,544,005	$5,185,091	+0.3%
Net Income	$-478,460	$-837,689	-0.4%

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

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

$565,836

Total Directors

$489,225

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ghassan Kassab	Chairman	30.00	Officer Director	$204,969	$49,713	$254,682
HANS GREGERSEN	President & CEO	40.00	Officer Director	$199,374	$35,169	$234,543
BHAVESH PATEL	ASSC RESEARCH PROF	40.00		$153,628	$28,042	$181,670
JENNY CHOY	RESEARCH PROFESSOR	40.00		$136,449	$25,435	$161,884
ISMAIL QADDOURA	IT MANAGER	40.00		$107,194	$32,535	$139,729
SANJAY SOUNDARAJAN	ASSC RESEARCH PROF	40.00		$104,764	$15,835	$120,599
LIGIA AMEZCUA THRU JUNE 2023	Sec/CFO	40.00	Officer	$64,116	$12,495	$76,611
JULIUS GUCCIONE	BOARD MEMBER	2.00	Director	$0	$0	$0
ABDULKADER RAHMO	BOARD MEMBER	2.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$6,065,545	$6,544,005	$2,633,857	$-478,460
2022	$4,347,402	$5,185,091	$3,274,586	$-837,689
2021	$4,738,580	$4,996,118	$1,568,920	$-257,538
2020	$4,569,221	$4,807,994	$1,883,185	$-238,773
2019	$4,860,792	$4,443,967	$1,830,404	$416,825
2018	$5,235,549	$4,607,301	$1,376,275	$628,248

THE CALIFORNIA MEDICAL INNOVATIONS INSTITUTE INC