RESEARCH UPDATE INC

EIN: 833619272 501(c)(3) Medical Research

Humble, TX

Total Revenue
$770,054
Total Expenses
$380,853
Total Assets
$1,026,788
Net Assets
$1,018,299
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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
2019
Legal Domicile
NJ
Principal Officer
URVISH PATEL
Phone
2019366715
Tax Period
2023-01-01 to 2023-12-31

RESEARCH UPDATE INC, founded in 2019, is a small nonprofit in the Medical Research sector that reported $770K in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $389K, a strong 51% operating margin.

Mission

To advance the knowledge of medicine and promote the best possible care for patients with adult and childhood-onset disorders by making current medical research available free of cost to the community, students and Drs.

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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 $9,755
Program Service Revenue $760,299
Investment Income $0
Other Revenue $0
TOTAL REVENUE $770,054

Expense Breakdown

Grants Paid $0
Salaries & Benefits $60,000
Fundraising Expenses $0
Program Expenses $368,233
Other Expenses $320,853
TOTAL EXPENSES $380,853

Year-over-Year Comparison

2023 2022 Change
Revenue $770,054 $651,738 +0.2%
Expenses $380,853 $193,851 +1.0%
Net Income $389,201 $457,887 -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

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Governance

Voting Members
3
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
1
$60,000
Total Directors
3
$60,000
Key Employees
1
$60,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
URVISH PATEL PRESIDENT/CEO 020.00
Officer Director Key Emp
$0 $0 $60,000
LISETH LAVADO TREASURER 001.00
Director
$0 $0 $0
REYMUNDA MACAVILCA SECRETARY 002.00
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 $770,054 $380,853 $1,026,788 $389,201
2022 $651,738 $193,851 $695,660 $457,887
2021 $334,394 $168,936 $172,395 $165,458
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