IMAGE GUIDED THERAPY RESEARCH INST… - 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

2023

Legal Domicile

Principal Officer

KAREN MCGEE

Phone

2407207934

Tax Period

2024-01-01 to 2024-12-31

IMAGE GUIDED THERAPY RESEARCH INSTITUTE (IGTRI), founded in 2023, is a small nonprofit in the Medical Research sector that reported $735K in total revenue in fiscal year 2024. Revenue surged 79% from the prior year, signaling strong growth momentum. Expenses of $818K exceeded revenue, resulting in a 11% operating deficit.

Mission

THE IMAGE GUIDED THERAPY RESEARCH INSTITUTE SUPPORTS RESEARCH ADVANCING MINIMALLY INVASIVE TECHNOLOGIES AND PROCEDURES FOR SAFELY TREATING CHALLENGING MEDICAL CONDITIONS.

Program Service Accomplishments

Program 1

Expenses: $729,827

THE IMAGE GUIDED THERAPY RESEARCH INSTITUTE (IGTRI) FOCUSES ON RESEARCH AND DEVELOPMENT OF MODULAR SYSTEMS FOR DIAGNOSIS AND IMAGE-GUIDED THERAPY.SEE SCHEDULE O FOR COMPLETE DESCRIPTION

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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 (2024)

Revenue Breakdown

Contributions & Grants $735,000

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $735,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $418,891

Fundraising Expenses $0

Program Expenses $729,827

Other Expenses $399,216

TOTAL EXPENSES $818,107

Year-over-Year Comparison

	2024	2023	Change
Revenue	$735,000	$410,100	+0.8%
Expenses	$818,107	$323,537	+1.5%
Net Income	$-83,107	$86,563	-2.0%

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

$125,848

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN MCGEE	PRESIDENT (START 9/16/24)	0.50	Officer Director	$0	$0	$0
IRVING WEINBERG	DIRECTOR	0.50	Director	$0	$0	$0
STANLEY FRICKE	DIRECTOR	0.50	Director	$0	$0	$0
LAMAR MAIR PHD	PRESIDENT (1/1-9/15/24)	40.00	Officer	$108,748	$0	$108,748
YING LI	TREASURER	4.00	Officer	$17,100	$0	$17,100
OLEG UDALOV PHD	SENIOR PHYSICIST (1/1-10/1/24)	40.00	Highest	$148,320	$0	$148,320

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	No data	No data	No data	No data
2024	$735,000	$818,107	$3,456	$-83,107
2023	$410,100	$323,537	$143,562	$86,563

IMAGE GUIDED THERAPY RESEARCH INSTITUTE (IGTRI)