IRS 990 Nonprofit Profile

Neomed Research Corporation

The corporation shall be operated exclusively for the scientific purposes as will, in the absolute and uncontrolled discretion of the board of trustees, most effectively assist and promote the corporation purposes. the purposes for which the corporation is to be formed are exclusively to: a. obtain scientific information beneficial to the public by jointly sponsoring, conducting, and administering scientific research within neomed; b. fund scientific research and study conducted by students and faculty at neomed to enhance the quality of life and develop scientific and technological advancements for the benefit of the public; c. make available for the public use the results and findings of scientific research sponsored or conducted by the corporation and funding and conducting with neomed workshops, seminars, and symposia on scientific developments, techniques, and studies; d. advance scientific research and facilitating the transfer of technology from the laboratory to public use by, among other activities, making applications for and obtaining patents, patent rights, trademarks, and copyrights for discoveries and inventions by students or faculty at neomed and by licensing such patents, trademarks, and copyrights so that the public ultimately may benefit from such discoveries and inventions; e. accept grants, equities and other things of value in support of research and intellectual property development; f. use manage, administer, apply, invest and reinvest the principal and income received by the corporation for the support of research and intellectual property development at neomed; g. lend, invest, or otherwise apply funds of the corporation in support of any purpose, activity or enterprise that relates to and contributes to, or advances the purpose of the corporation, provided such purpose is consistent with its exempt and favored status under the tax laws and all other substantive law; h. do whatever is deemed necessary, useful, advisable or conductive, directly or indirectly, to carry out any of the purposes of the corporation, including the exercise of all other authority enjoyed by corporations generally by virtue of the provisions of the ohio non-profit corporation law.

Filing year

2023

Total revenue

$172K

Total expenses

$70K

Program expenses

$61K

Administration

$9K

Fundraising

$0

Program share of expenses

87%

EIN

341919613

Location

Rootstown, OH