Advancing Innovation in Dermatology Inc

Analysis

Advancing Innovation in Dermatology Inc is a registered charity in United States, based in Mendham, NJ. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Advancing Innovation in Dermatology Inc reported income of $681k and spending of $640k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $820k to $681k (-17%), an average of -4.5% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Advancing Innovation in Dermatology Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 78th percentile within NJ. Charities of a similar size with the same main cause include Mentoring in Medicine & Science Inc ($681k), Lukes House - a Clinic for Healing and Hope ($681k) and Corporation for Advancement of Medical Technologies ($681k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 17% of the total. Other salaries and wages came to $103k. At year end it held assets of $2.1m against liabilities of $421k, net assets of $1.6m.