Axismed

Nonprofit profile at a glance

EIN
863752273
IRS 990-EZ coverage
2022–2024
Forms available
Form 990-EZ 2024
Location
Savoy, IL, USA
Phone
3142559112
Rating confidence
Limited
Sector
Biomedicine, Bioengineering Research

Reported finances

Revenue
$0
Expenses
$307
Assets
$2,386
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Alexander Smith (President)

People named in this filing

  • Alexander Smith (President)
  • Neddie Byron (Treasurer)
  • Bilal Karim (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

AxisMED serves a community of early-stage medical entrepreneurs in the Champaign-Urbana community. The program intends to create grant-based funding opportunities for student teams in future years. To date, we have mentored 3 cohorts of student teams for a total of 9 teams through curricular years, which start in August and end in May. AxisMED has partnered with organizations associated with the University of Illinois to promote education in the biotechnology space alongside existing entrepreneurship programs. To date, all involvement of the leadership of AxisMED has been on a volunteer basis. We received our first grant recently, and aim to divide this grant into small grants for our teams in the next year's cohort.

What it reported doing in 2024

AxisMED has supported a total of 15 teams in the early-stage entrepreneurship process. The annual program began by recruiting 6 team leaders in August of 2022. The team leaders cohort narrowed to 4 who stayed engaged with the program, and these team leaders recruited several team members, for team sizes of 4-7 members. Each of these teams found a challenge in the medical field worth pursuing a new solution to, and began research. The teams have engaged in 4 design reviews so far, and have been allocated $125 each in funding to support presentations that they will conduct later this Spring. The leadership team all works on a volunteer basis, providing education to the students who are learning about entrepreneurship in a hands-on way. In previous years, teams have raised tens of thousands in funding after completing our program, and have shown that our program allows for students to learn and engage in medical entrepreneurship in a competitive level to their peers in other areas after they've completed our program.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 82
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 52.8%; rating input score 53

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 7.77; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 47.6% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -150% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -9.4% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 52.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $162 in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.