Boilermaker Health Innovations Inc

Nonprofit profile at a glance

EIN
261999384
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
West Lafayette, IN, USA
Phone
7655881061
Rating
32
Verdict
REVIEW
Rating confidence
Moderate
Sector
Research Institutes and/or Public Policy Analysis

Reported finances

Revenue
$671,710
Expenses
$8,184
Assets
$3,039,143
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Andrew Mesecar (Executive Director)

Highest reported compensation

  • Andrew Mesecar (Executive Director): $473,351 total reported compensation
  • Brian Edelman (Secretary): $428,646 total reported compensation
  • Timothy Ratliff (Treasurer): $418,662 total reported compensation

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

Overview

Mission

To support and operate for the exclusive benefit of purdue research foundation and purdue university to improve human health and well-being by expediting the translation of intellectual property into medical products for public benefit.

What it reported doing in 2024

The primary purpose of boilermaker health innovations, inc. (bhi) is to expedite the translation of intellectual property of the purdue research foundation into commercial medical products for benefit of mankind. The organization is intended to facilitate and serve as a bridge between purdue university, purdue research foundation and industry in the development and refinement of concepts, ideas, inventions and discoveries originating, in whole or in part, within purdue, so as to create new medical devices, medical apparatuses, pharmaceuticals and treatments with the ultimate goal of improving human health and well-being for the public benefit.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 69
  • Accountability: 32
  • Sustainability: 87
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 98.8%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 371.35; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 2,577.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -50% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -28.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $473K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.