ELEVATEMED INC

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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

2018

Legal Domicile

Principal Officer

DR ALYX PORTER UMPHREY

Phone

4802695774

Tax Period

2025-01-01 to 2025-12-31

ELEVATEMED INC, founded in 2018, is a small nonprofit in the Education sector that reported $898K in total revenue in fiscal year 2025. Expenses of $787K left a modest 12% surplus.

Mission

PROVIDE SCHOLORSHIP SUPPORT, MENTORSHIP, LEADERSHIP DEVELOPMENT AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR MEDICAL STUDENTS PURSUING CAREERS IN MEDICINE

Program Service Accomplishments

Program 1

Expenses: $351,497

ELEVATEMED IS A 501(C)(3) NONPROFIT ORGANIZATION COMMITTED TO SUPPORTING THE NEXT GENERATION OF PHYSICIAN LEADERS THROUGH SCHOLARSHIP SUPPORT, MENTORSHIP, LEADERSHIP DEVELOPMENT, FINANCIAL WELLNESS EDUCATION, AND COMMUNITY ENGAGEMENT. ELEVATEMED HELPS REMOVE FINANCIAL AND PROFESSIONAL BARRIERS IN MEDICAL EDUCATION WHILE STRENGTHENING THE PHYSICIAN WORKFORCE THROUGH EDUCATION, MENTORSHIP, AND PROFESSIONAL DEVELOPMENT. THE ELEVATEMED SCHOLARS PROGRAM IS BUILT AROUND FIVE CORE AREAS: SCHOLARSHIP SUPPORT, MENTORSHIP, LEADERSHIP DEVELOPMENT, FINANCIAL WELLNESS EDUCATION, AND PEER NETWORKING.

Program 2

Expenses: $257,780

SCHOLARSHIPS AND MENTORSHIP ANNUALLY, ELEVATEMED PROVIDES TUITION-BASED SCHOLARSHIPS AND PROFESSIONAL SUPPORT DESIGNED TO HELP REDUCE THE FINANCIAL BURDEN ASSOCIATED WITH MEDICAL EDUCATION. SCHOLARS ARE SELECTED THROUGH A NATIONAL APPLICATION AND COMMITTEE REVIEW PROCESS DESIGNED TO EVALUATE ACADEMIC ACHIEVEMENT, LEADERSHIP, COMMITMENT TO SERVICE, AND ALIGNMENT WITH THE ORGANIZATION'S MISSION. THE 2025 SCHOLARS COHORT INCLUDED MEDICAL STUDENTS WHO EACH RECEIVED 10,000 SCHOLARSHIP AWARDS DISTRIBUTED DIRECTLY TO SCHOLARS FOLLOWING COMPLETION OF REQUIRED DOCUMENTATION AND SCHOLARSHIP AGREEMENTS OUTLINING APPROVED EDUCATIONAL EXPENSES. THROUGH PARTNERSHIPS INCLUDING THE LARRY FITZGERALD FOUNDATION AND THE DIANE PORTER MEMORIAL SCHOLARSHIP, ELEVATEMED WAS ALSO ABLE TO PROVIDE ADDITIONAL SCHOLARSHIP SUPPORT TO SELECT SCHOLARS. IN ADDITION, RESIDENCY RELOCATION SCHOLARSHIPS WERE AWARDED TO GRADUATING SCHOLARS ENTERING RESIDENCY PROGRAMS TO ASSIST WITH TRANSITION-RELATED EXPENSES. SINCE INCEPTION, ELEVATEMED HAS AWARDED MORE THAN 1.5 MILLION IN TUITION-BASED SCHOLARSHIPS AND SUPPORT TO MORE THAN 90 MEDICAL STUDENTS ACROSS THE UNITED STATES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $643,696

Program Service Revenue $0

Investment Income $8

Other Revenue $254,568

TOTAL REVENUE $898,272

Expense Breakdown

Grants Paid $257,780

Salaries & Benefits $123,608

Fundraising Expenses $4,500

Program Expenses $609,277

Other Expenses $400,664

TOTAL EXPENSES $786,552

Year-over-Year Comparison

	2025	2024	Change
Revenue	$898,272	$853,873	+0.1%
Expenses	$786,552	$715,347	+0.1%
Net Income	$111,720	$138,526	-0.2%

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

$96,923

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ALYX PORTER UMPHREY	BOARD CHAIR	8.00	Officer Director	$0	$0	$0
DR MARISSA VASQUEZ	BOARD VICE C	N/A	Officer Director	$0	$0	$0
DR TIFFANY HARDAWAY	SECRETARY	N/A	Officer Director	$0	$0	$0
JACQUELINE BRYANT	TREASURER	N/A	Officer Director	$0	$0	$0
MAIA S MCCUISTON MD	DIRECTOR	N/A	Director	$0	$0	$0
DR GREG UMPHREY	DIRECTOR	N/A	Director	$0	$0	$0
DR ANDREW SANDERSON II	DIRECTOR	N/A	Director	$0	$0	$0
DR BERT VARGAS	DIRECTOR	N/A	Director	$0	$0	$0
GYASI CHISLEY PMP FACHE	DIRECTOR	N/A	Director	$0	$0	$0
DR JESHENNA WATKINS	DIRECTOR	N/A	Director	$0	$0	$0
DR RICARDO CORREA	DIRECTOR	N/A	Director	$0	$0	$0
DR SHANNON SMITH HAMILTON	DIRECTOR	N/A	Director	$0	$0	$0
JEFFREY ARMSTRONG	EXECUTIVE DI	50.00	Officer	$96,923	$0	$96,923

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	$898,272	$786,552	$614,488	$111,720
2024	$853,873	$715,347	$486,187	$138,526
2023	$688,555	$978,911	$351,926	$-290,356
2022	$512,935	$397,321	$637,593	$115,614
2021	$462,373	$296,397	$521,979	$165,976
2020	$316,061	$153,085	$359,901	$162,976
2019	$221,472	$28,445	$193,027	$193,027
2019	$201,457	$26,017	$175,440	$175,440