Institute for Life Changing Medicines Inc

Nonprofit profile at a glance

EIN
845046384
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2039181058
Rating confidence
Limited
Sector
Medical Research N.E.C.

Reported finances

Revenue
$0
Expenses
$25,856
Assets
$882,673
Liabilities
$932,895

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ALEXANDER KARNAL OFF 1124 (CHAIRMAN, CEO)
  • JAMES M WILSON MD PHD ON 0124 (PRESIDENT, FORMER CHIEF SCIENTIFIC OFFICER)

People named in this filing

  • ALEXANDER KARNAL OFF 1124 (CHAIRMAN, CEO)
  • JULIAN HARRIS MD (DIRECTOR)
  • MONIQUE MOLLOY (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 organization's mission is to develop therapies for diseases that for-profit, commercial developers deem too rare, and therefore not commercially viable to develop, and to provide access to these therapies to all patients in need.

What it reported doing in 2024

Bring transformative medicines to people suffering and eliminate all barriers to access.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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: 14
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 18.8%; rating input score 19
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: 34.14; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -4.5% per year; rating input score 0; 39th percentile among comparable filings
  • Revenue growth: -102.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 18.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 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.

  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Growth: Asset growth scored 0/100.