Mihret Medical Supply GroupInc

EIN: 832313508 501(c)(3) International Affairs

Ruckersville, VA

Total Revenue
$1,612,139
Total Expenses
$1,560,322
Total Assets
$678,048
Net Assets
$380,788
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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
VA
Principal Officer
Tilahun Goshu
Phone
5408209211
Tax Period
2023-01-01 to 2023-12-31

Mihret Medical Supply GroupInc, founded in 2018, is a community nonprofit in the International Affairs sector that reported $1.6M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $1.6M left a modest 3% surplus.

Mission

Promoting and facilitating the collection and distribition of quality Medical equipments and medicines worldwide to humanitarian entities. Strengthening Health Care Facilities, Family Farms, Micro Enterprise, Social and Spiritual Organizations, and Education projects in under served countries through direct aid, training and Scholarships.

Program Service Accomplishments

Program 1
Expenses: $1,231,606 Revenue: $0

In 2023, Mihret, in collaboration with James Madison University, shipped a container of medical equipment and supplies to Ukraine As a result, 200,000 people, including children and birthing women...

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In 2023, Mihret, in collaboration with James Madison University, shipped a container of medical equipment and supplies to Ukraine As a result, 200,000 people, including children and birthing women, received direct and indirect service benefits from the shipment. In Ethiopia, Mihret, in collaboration with Samara University, donated two containers of medical equipment with a total valuation of $556,918.00 to Dubti and Logia Hospitals. The equipment includes Hospital beds, cardiac recliners, smart exam tables, OR tables, Surgical drapes, EKG, Ultrasound, X-ray, blankets, wound care supplies, gloves, and so on According to the effect report from Samara University, 150,000 people directly benefit from this support annually, ensuring a sustained impact on the local healthcare system

Program 2
Expenses: $62,570 Revenue: $0

From January 30th to February 11th, 2023, Mihret collaborated with Rapha Medical Center, Comfort My People, and Bahirdar University College of Medicine and Health Sciences to conduct a ten-day...

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From January 30th to February 11th, 2023, Mihret collaborated with Rapha Medical Center, Comfort My People, and Bahirdar University College of Medicine and Health Sciences to conduct a ten-day training program. This program, carefully designed for 18 midwives and 30 birth attendants from remote health facilities in nine different zones of the Western Amhara Region, focused on Evidence-Based Safe Birth Practice. The trainees received high-quality instruction from expert midwives trained in the US, and Mihret ensured that the training manuals were accurately translated into Amharic and distributed to the trainees for their reference. The program also included practical exercises with mannequins, and six exceptional trainers were identified from the group of participants. The positive impact of this training program reached five universities and 25 health facilities, including hospitals, health centers, and health posts, as reported by the Regional Health Bureau.

Program 3
Expenses: $180,749 Revenue: $0

Mihret spearheads an impactful apiary farm empowerment project in Ethiopia, focusing on the Gojjam and Tigray areas. The project, which commenced three years ago with 300 modern seed beehives, aims...

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Mihret spearheads an impactful apiary farm empowerment project in Ethiopia, focusing on the Gojjam and Tigray areas. The project, which commenced three years ago with 300 modern seed beehives, aims to revolutionize traditional beekeeping practices in Ethiopia. Initially involving 60 families, the project has now positively impacted 183 families, and its reach has expanded to encompass 1,350 farmers-owned colonies in Bure, Tilili, Merawi, Bahirdar, and Mekelle Localities. n 2023, Mihret took a bold step by initiating the construction of a state-of-the-art honey processing plant called LalHoney Manufacturing within the Bure Agro-Industrial Park, spanning over a 4-acre property. However, despite facing disruptions due to the conflict between the Amhara Fano and the Federal Government forces, Mihret remains relentless in driving the project forward. Furthermore, Mihret made strategic investments by purchasing a Toyota Hylux Heavy Duty truck to support the projects logistics. n the same year, Mihrets ownership of 300 beehives signifies a strong commitment to furthering the projects impact, with 12 families poised to benefit from managing Mihrets modern beehives and beekeeping business.

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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 $1,612,139
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,612,139

Expense Breakdown

Grants Paid $1,212,649
Salaries & Benefits $47,708
Fundraising Expenses $0
Program Expenses $1,474,925
Other Expenses $299,965
TOTAL EXPENSES $1,560,322

Year-over-Year Comparison

2023 2022 Change
Revenue $1,612,139 $1,929,084 -0.2%
Expenses $1,560,322 $2,307,398 -0.3%
Net Income $51,817 $-378,314 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tilahun Goshu N/A
Director
$0 $0 $0
Lemlem Woldemichael N/A
Director
$0 $0 $0
Hiwot Wolde Dagnachew N/A
Officer
$0 $0 $0
Mark Smith N/A
Director
$0 $0 $0
Dr Yilikal Goshu N/A
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
2023 $1,612,139 $1,560,322 $678,048 $51,817
2022 $1,929,084 $2,307,398 $369,374 $-378,314
2021 $5,710,148 $5,417,533 $743,818 $292,615
2020 $1,044,358 $914,522 $460,057 $129,836
2019 $335,570 $6,524 $333,615 $329,046
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