Healthcare Impact Foundation

Nonprofit profile at a glance

EIN
823038867
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2039740332
Rating confidence
Limited
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$0
Expenses
$1,813
Assets
$973
Liabilities
$3,199,318

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

Leadership & pay

3 people listed

Executive titles in this filing

  • CHARLES P STETSON (PRESIDENT)

People named in this filing

  • CHARLES P STETSON (PRESIDENT)
  • PAMELA NEWMAN (DIRECTOR)
  • AMANDA ESPY (DIRECTOR)

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

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

Overview

Mission

The foundation was organized for the primary purpose of building a better healthcare ecosystem by fostering research accellerations in the field of life sciences intented to take top healthcare innovations from the laboratory to help deliver them to patients; by working with healthcare development initiatives to build best practices for life science accellerators accross the country; by working with top-level scientists and passionate donors to address disease status such as cancer, disbetes and alzheimer's disease; by assisting community organizations in building a better private finance ecosystem for promising life science companies to provide smoother and less interrupted development processes; and by other processes and initiatives.

What it reported doing in 2024

Grants are provided for research projects to advanced healthcare innovations.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: 0
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 12
  • Growth: 20

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0.54; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 3,288.1; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -36.8% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -12.9% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.