Civic Intelligence

Initiative for Medicines Access & Knowledge I-Mak Inc.

990 • Fiscal year 2018 • EIN 20-8559302

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 08, 2019

Organization Profilewww.i-mak.org

View Organization Page

601 West 26th Street 3rd FloorNew York, NY 10001

(917) 455-6601

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.23x

Higher debt load relative to assets than 66% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.40x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

2nd percentile

-176%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

92nd percentile

$228,537

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 24.5% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

2nd percentile

-40%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$1,600,403

Down $1,065,607 (-40%) from 2017

Net Assets

Down

$1,229,997

Down $1,389,740 (-53%) from 2017

Liabilities

Up

$370,406

Up $324,133 (+700%) from 2017

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin2nd percentile

Revenue

Down

$933,296

Down $2,777,867 (-75%) from 2017

Expenses

Up

$2,573,036

Up $707,740 (+38%) from 2017

Net Income

Down

-$1,639,740

Down $3,485,607 (-189%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $305,948Liabilities 2010: $2,8012010Assets 2011: $379,388Liabilities 2011: $6,448Net Assets 2011: $372,9402011Assets 2012: $415,316Liabilities 2012: $12,500Net Assets 2012: $402,8162012Assets 2013: $460,293Liabilities 2013: $14,931Net Assets 2013: $445,3622013Assets 2014: $474,029Liabilities 2014: $4,100Net Assets 2014: $469,9292014Assets 2015: $599,660Liabilities 2015: $14,675Net Assets 2015: $584,9852015Assets 2016: $822,548Liabilities 2016: $48,678Net Assets 2016: $773,8702016Assets 2017: $2,666,010Liabilities 2017: $46,273Net Assets 2017: $2,619,7372017Assets 2018: $1,600,403Liabilities 2018: $370,406Net Assets 2018: $1,229,9972018Assets 2019: $1,213,804Liabilities 2019: $50,361Net Assets 2019: $1,163,4432019Assets 2020: $1,400,880Liabilities 2020: $147,246Net Assets 2020: $1,253,6342020Assets 2021: $1,832,222Liabilities 2021: $93,987Net Assets 2021: $1,738,2352021Assets 2022: $3,143,772Liabilities 2022: $140,363Net Assets 2022: $3,003,4092022Assets 2023: $4,371,767Liabilities 2023: $117,875Net Assets 2023: $4,253,8922023Assets 2024: $4,263,696Liabilities 2024: $556,955Net Assets 2024: $3,706,7412024

Highlighted filing

2018

Assets$1,600,403
Liabilities$370,406
Net Assets$1,229,997
Open 2018 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2010: $175,629Expenses 2010: $187,854Net Income 2010: -$12,2252010Revenue 2011: $302,840Expenses 2011: $233,047Net Income 2011: $69,7932011Expenses 2012: $266,0362012Revenue 2013: $328,331Expenses 2013: $285,785Net Income 2013: $42,5462013Revenue 2014: $404,446Expenses 2014: $379,879Net Income 2014: $24,5672014Revenue 2015: $675,489Expenses 2015: $560,433Net Income 2015: $115,0562015Revenue 2016: $1,123,803Expenses 2016: $934,918Net Income 2016: $188,8852016Revenue 2017: $3,711,163Expenses 2017: $1,865,296Net Income 2017: $1,845,8672017Revenue 2018: $933,296Expenses 2018: $2,573,036Net Income 2018: -$1,639,7402018Revenue 2019: $724,021Expenses 2019: $790,575Net Income 2019: -$66,5542019Revenue 2020: $953,611Expenses 2020: $863,420Net Income 2020: $90,1912020Revenue 2021: $1,855,914Expenses 2021: $1,371,313Net Income 2021: $484,6012021Revenue 2022: $2,830,909Expenses 2022: $1,565,735Net Income 2022: $1,265,1742022Revenue 2023: $2,921,379Expenses 2023: $1,670,896Net Income 2023: $1,250,4832023Revenue 2024: $1,327,898Expenses 2024: $1,875,049Net Income 2024: -$547,1512024

Highlighted filing

2018

Revenue$933,296
Expenses$2,573,036
Net Income-$1,639,740
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 8, 2019
Return Version
2018v3.1
Gross Receipts
$933,296
Mission and Program Overview

Mission

I-MAK is a team of lawyers and scientists increasing access to affordable medicines by making sure the patent system works.We at I-MAK believe:The patent system was designed to balance innovation in medicines and the dissemination of new treatments to society.The current patent system disproportionately represents and upholds private interests over the public good. This can and must change.Such change should be informed by patients' needs.Armed with the best evidence, our lawyers and scientists are giving the public a voice in a system that impacts their health and lives.

I-MAK is a team of lawyers and scientists increasing access to affordable medicines by making sure the patent system works.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,311,211$1,252,617▼ $58,594
Pledges and Grants Receivable$1,549,083$325,000▼ $1,224,083
Accounts Receivable$51,817$18,356▼ $33,461
Land, Buildings, and Equipment, Net$2,699$2,024▼ $675
Prepaid Expenses and Deferred Charges-$1,206-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,916,010$1,600,403▼ $1,315,607
Other Assets Total$1,200$1,200→ $0
Liabilities
Accounts Payable and Accrued Expenses$46,273$320,954▲ $274,681
Other Liabilities-$49,452-
Total Liabilities$46,273$370,406▲ $324,133
Net Assets / Fund Balance
Unrestricted Net Assets$1,210,654$696,480▼ $514,174
Temporarily Rstr Net Assets$1,659,083$533,517▼ $1,125,566
Total Net Assets Fund Balance$2,869,737$1,229,997▼ $1,639,740
Total Liabilities and Net Assets / Fund Balance$2,916,010$1,600,403▼ $1,315,607

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,024$13,080$15,104
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tahir AminSecretaryFT$216,000$12,537$228,537
Priti RadhakrishnanPresidentFT$213,829$12,534$226,363

Board Members and Trustees

NameTitle
Amanda ParsonsDirector
Amy HerskovitzDirector
Anne LebleuDirector
Lara GalinksyDirector
Monica MehtaDirector
Reena AbrahamDirector
Renu SainiDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$824,796
Program Service Revenue
$108,500
Investment Income
$0
Other Revenue
$0
All Other Contributions
$824,796
Change in Net Assets
$-1,639,740

Audited Revenue Reconciliation

Revenue per Audited Statements
$933,296
Total Revenue per Audited Statements
$933,296
Total Revenue per Form 990
$933,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,411,604
Other Expenses$1,161,432
Total Fundraising Expense$160,402
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$658,530$81,879$2,541$742,950
Current Officers, Directors, Trustees, and Key Employees$378,875$32,475$21,650$433,000
Fees for Services Other-$220,640$130,762$351,402
Travel$155,947--$155,947
Payroll Taxes$108,992$22,881$2,542$134,415
Other Employee Benefits$89,311$9,845$2,083$101,239
Other Expenses$27,021--$27,021
Occupancy$22,767$2,510$531$25,808
Office Expenses$14,019$10,827$293$25,139
Information Technology$15,237--$15,237
Depreciation Depletion-$675-$675
Total Functional Expenses$2,030,902$381,732$160,402$2,573,036

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,573,036
Total Expenses per Audited Statements$2,573,036
Total Expenses per Form 990$2,573,036
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll and Taxes$49,452
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The 990 is discussed at a meeting of the board of directors before it is signed and filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“In connection with any actual or possible conflict of interest, a board member must disclose the existence of the conflict interest and disclose all material facts. The remaining board or committee members shall decide if a conflict of interest exists.if a conflcit is found to exist, the board member takes a sabbatical, resigns or removes the conflict.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors works with an external compensation firm to obtain independent comparability data set compensation for the Executive Directors, and documents this process through and approved memorandum with the external firm and the final decision in Board minutes/resolutions.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“N/A”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Initiative for Medicines
EIN
20-8559302
Phone
9174556601
Address
601 WEST 26TH STREET 3RD FLOOR, NEW YORK, NY 10001

Signing Officer

Name
Tahir Amin
Title
Secretary
Signed
2019-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Priti Radhakrishnan
Formed
2007
Legal Domicile
De
Voting Board Members
7
Independent Board Members
5
Employees
9

Preparer

Firm
Gary S Eisenkraft CPA
Address
271 Madison Avenue Suite 602, New York, NY 10016
Preparer
Gary S Eisenkraft CPA
Phone
2126892655
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IRS990/MissionDesc0I-MAK is a team of lawyers and scientists increasing access to affordable medicines by making sure the patent system works.We at I-MAK believe:The patent system was designed to balance innovation in medicines and the dissemination of new treatments to society.The current patent system disproportionately represents and upholds private interests over the public good. This can and must change.Such change should be informed by patients' needs.Armed with the best evidence, our lawyers and scientists are giving the public a voice in a system that impacts their health and lives.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS DISCUSSED AT A MEETING OF THE BOARD OF DIRECTORS BEFORE IT IS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, A BOARD MEMBER MUST DISCLOSE THE EXISTENCE OF THE CONFLICT INTEREST AND DISCLOSE ALL MATERIAL FACTS. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS.IF A CONFLCIT IS FOUND TO EXIST, THE BOARD MEMBER TAKES A SABBATICAL, RESIGNS OR REMOVES THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors works with an external compensation firm to obtain independent comparability data set compensation for the Executive Directors, and documents this process through and approved memorandum with the external firm and the final decision in Board minutes/resolutions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,600,403
Liabilities
$370,406
Net assets
$1,229,997
Revenue
$933,296
Expenses
$2,573,036
Net income
-$1,639,740
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$0.56$3.71$1.33$1.88$0.55
2023Summary only. Only limited summary data is available for this year.$4.37$0.12$4.25$2.92$1.67$1.25
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.14$0.14$3.00$2.83$1.57$1.27
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$0.09$1.74$1.86$1.37$0.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.40$0.15$1.25$0.95$0.86$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.05$1.16$0.72$0.79$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.60$0.37$1.23$0.93$2.57$1.64
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.67$0.05$2.62$3.71$1.87$1.85
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.05$0.77$1.12$0.93$0.19
2015Summary only. Only limited summary data is available for this year.$0.60$0.01$0.58$0.68$0.56$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$0.40$0.38$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.46$0.01$0.45$0.33$0.29$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.01$0.40$0.27
2011Summary only. Only limited summary data is available for this year.$0.38$0.01$0.37$0.30$0.23$0.07
2010Summary only. Only limited summary data is available for this year.$0.31$0.00$0.18$0.19$0.01