Advancium Health Network Inc
Nonprofit profile at a glance
- EIN
- 872622250
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021
- Location
- New York, NY, USA
- Phone
- 2125838281
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Medical Research N.E.C.
Reported finances
- Revenue
- $1,082,418
- Expenses
- $7,138,898
- Assets
- $4,785,014
- Liabilities
- $367,459
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- MARK VEICH (PRESIDENT)
Highest reported compensation
- MICHELE CLEARY DIR TO 524 (CHIEF SCIENTIFIC OFFICER (AS OF 6/24)): $332,875 total reported compensation
- EMMA MORAN EVANS (DIRECTOR, COBICURE MED TECH): $331,498 total reported compensation
- MAUREEN REYES (DIRECTOR, STRATEGY & OPS): $317,922 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
Advancium health network, inc. Is a mission-driven charitable organization committed to eliminating barriers in healthcare through a unique model that combines the expertise of for-profit leadership with non-profit motivations. Through the support of our partners, industry experts, and charitable donors, we're tackling healthcare's most challenging gaps and unmet needs across the industry - from early-stage innovation, to pediatrics and rare disease. Advancium health network is committed to a positive impact on human health.
Operating model
- Revenue model
- Donor-supported. 99% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 71
- Accountability: 90
- Sustainability: 15
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 36.8%; rating input score 37
- Program expense ratio: 70.3%; rating input score 70
- Fundraising efficiency: $37.98 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -559.5%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 0.67; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 28.7%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 48.7% per year; rating input score 100; 95th percentile among comparable filings
- Revenue growth: 30.9% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 54.7% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 36.8% of revenue deployed · 70.3% of spending went to programs
- Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $5M in reported program spending
- Leadership: top reported pay $333K · 14 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.4M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 17 filed money-flow records
- Related organizations: 11 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 0/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- High — Sustainability: Officer compensation ratio scored 7/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.