Medical Device Innovation Consortium

Analysis

Medical Device Innovation Consortium is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in March 2014, 12 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Medical Device Innovation Consortium reported income of $14.9m and spending of $15.6m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.6m to $14.9m (+97%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 183%. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Medical Device Innovation Consortium sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Addictions Recovery Center Inc ($14.9m), Training Toward Self Reliance Inc ($14.9m) and Baptist Memorial Hospital - Calhoun Inc ($14.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $3.3m (21% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $11.9m against liabilities of $9.8m, net assets of $2.1m. It reported 53 employees.