Medical Device Innovation Consortium

Legal name: The Medical Device Innovation Consortium

Nonprofit profile at a glance

EIN
461465348
IRS 990 coverage
2013–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Arlington, VA, US
Phone
202-828-1600
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Medical Research N.E.C.

Official website

Reported finances

Revenue
$28,171,331
Expenses
$28,147,444
Assets
$11,814,781
Liabilities
$9,698,496

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

Leadership & pay

36 people listed

Executive titles in this filing

  • FISH ANDREW (PRESIDENT & CEO)
  • MASON SIMON (CHIEF ENTERPRISE OFFICER AND PRESIDENT OF NEST)
  • SMITH RICHARD (SENIOR VICE PRESIDENT, NESTCC)
  • HENRY LATARA (VICE PRESIDENT, HUMAN CAPITAL)
  • VICTORIA MATTHEW R (VICE PRESIDENT, BRAND AND EXPERIENCE)
  • MAEGLEY CORINNE (VICE PRESIDENT, PARTNERSHIPS MANAGEMENT, NEST)

Highest reported compensation

  • FISH ANDREW (PRESIDENT & CEO): $914,419 total reported compensation
  • MASON SIMON (CHIEF ENTERPRISE OFFICER AND PRESIDENT OF NEST): $606,172 total reported compensation
  • SAPIENTE JOSEPH RAYMOND (CHIEF SCIENCE AND INNOVATION OFFICER): $381,571 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 improve health and save lives by accelerating access to medical technologies.

What it reported doing in 2024

National evaluation system for health technology coordinating center: the national evaluation system for health technology (nest) is an initiative of mdic which serves as a catalyst in establishing functional and efficient pathways for key stakeholders to generate lower-cost, nearer real-time real-world evidence (rwe) of sufficient quality for regulatory, coverage, patient, and clinical decision-making. By solving the challenges that have slowed medical device innovation, delayed the detection of safety signals, and created inefficiencies, nestcc could improve patients' timely access to safe medical devices and their quality of life.

Operating model

Revenue model
Grant-funded. 67% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.4%; rating input score 81
  • Program expense ratio: 81.5%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 17.6%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 24.3% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 22.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 20.1% per year; rating input score 100; 89th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 81.4% of revenue deployed · 81.5% of spending went to programs
  • Governance: 22 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $22.9M in reported program spending
  • Leadership: top reported pay $914K · 36 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $917K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 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.

  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.