Civic Intelligence

Elevatemed Inc.

990 • Fiscal year 2020 • EIN 83-3557457

Jan 01, 2020 to Dec 31, 2020 • Filed on May 20, 2021

Organization ProfileWWW.ELEVATEMED.ORG
12622 N 56th PlaceScottsdale, AZ 85254

(480) 269-5774

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.01x

Higher debt load relative to assets than 62% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

63rd percentile

0.01x

Higher debt load relative to revenue than 63% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

89th percentile

52%

Higher net margin than 89% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

88th percentile

105%

Faster asset growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

57%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$359,901

Up $184,461 (+105%) from 2019

Net Assets

Up

$356,003

Up $180,563 (+103%) from 2019

Liabilities

Up

$3,898

Up $3,898 from 2019

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin89th percentile

Revenue

Up

$316,061

Up $114,604 (+57%) from 2019

Expenses

Up

$153,085

Up $127,068 (+488%) from 2019

Net Income

Down

$162,976

Down $12,464 (-7.1%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$800K$600K$400K$200K$0Assets 2018: $1Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $175,440Liabilities 2019: $0Net Assets 2019: $175,4402019Assets 2020: $359,901Liabilities 2020: $3,898Net Assets 2020: $356,0032020Assets 2021: $521,979Liabilities 2021: $0Net Assets 2021: $521,9792021Assets 2022: $637,593Liabilities 2022: $0Net Assets 2022: $637,5932022Assets 2023: $351,926Liabilities 2023: $4,689Net Assets 2023: $347,2372023Assets 2024: $486,187Liabilities 2024: $0Net Assets 2024: $486,1872024

Highlighted filing

2020

Assets$359,901
Liabilities$3,898
Net Assets$356,003
Open 2020 Filing

Operations Trend

Revenue Growth89th percentile

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

$1.0M$500K$0-$500KRevenue 2018: $2,500Expenses 2018: $2,500Net Income 2018: $02018Revenue 2019: $201,457Expenses 2019: $26,017Net Income 2019: $175,4402019Revenue 2020: $316,061Expenses 2020: $153,085Net Income 2020: $162,9762020Revenue 2021: $462,373Expenses 2021: $296,397Net Income 2021: $165,9762021Revenue 2022: $512,935Expenses 2022: $397,321Net Income 2022: $115,6142022Revenue 2023: $688,555Expenses 2023: $978,911Net Income 2023: -$290,3562023Revenue 2024: $853,873Expenses 2024: $715,347Net Income 2024: $138,5262024

Highlighted filing

2020

Revenue$316,061
Expenses$153,085
Net Income$162,976
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 20, 2021
Return Version
2020v4.1
Gross Receipts
$350,532
Mission and Program Overview

Mission

Provide financial assistance and mentoring to medical students from racial and ethnic backgrounds traditionally underrepresented in medicine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$130,068$280,086▲ $150,018
Cash and Non-Interest-Bearing Accounts$45,372$76,315▲ $30,943
Accounts Receivable$17,587--
Prepaid Expenses and Deferred Charges-$3,500-
Total Assets$193,027$359,901▲ $166,874
Liabilities
Accounts Payable and Accrued Expenses-$3,898-
Total Liabilities$0$3,898▲ $3,898
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$193,027$356,003▲ $162,976
Total Net Assets Fund Balance$193,027$356,003▲ $162,976
Total Liabilities and Net Assets / Fund Balance$193,027$359,901▲ $166,874
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Alyx Porter Umphrey Md FaanExec Director and Board Chair
Marissa Vasquez Md MbaBoard Vice Chair
Andrew Sanderson Md Mph FasgeDirector
Bert Vargas Md Fahs FaanDirector
Greg Umphrey MdDirector
Gyasi Chisley Pmp FacheDirector
Ricardo Correa Md Esd Facp Face CmqDirector
Shannon Smith Md FaapmrDirector
Tiffany Hardaway Md MsSecretary
Patrick Brooks CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$342,364
Program Service Revenue
$0
Investment Income
$18
Other Revenue
$-26,321
All Other Contributions
$293,828
Change in Net Assets
$162,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,000
Other Expenses$53,085
Total Fundraising Expense$22,461
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$100,000--$100,000
Fees for Services Other$4,629$20,911$17,635$43,175
Information Technology-$1,273$3,255$4,528
Fees for Services Accounting-$2,445-$2,445
Office Expenses$89$919-$1,008
Fees for Services Legal-$225-$225
Other Expenses-$60$1,571$60
Total Functional Expenses$104,718$25,906$22,461$153,085
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$34,471
Fundraising Gross Income$8,150
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$40,386-$7,261-
Silent Auction$16,300$8,150$6,769$1,381
Total Events$56,686$8,150$34,471$-26,321
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Dr alyx porter umphrey and dr greg umphrey are related by marriage”

Form 990, Part VI, Section B, Line 11B

“The treasurer of the organization distributes a pdf copy of the 990 to all board members for review and comment prior to the return being filed.”

Form 990, Part VI, Section B, Line 12C

“Policies for the organization are being developed and are expected to be in place prior to the end of 2021”

Form 990, Part VI, Section B, Line 13

“Policies for the organization are being developed and are expected to be in place prior to the end of 2021”

Form 990, Part VI, Section B, Line 14

“Policies for the organization are being developed and are expected to be in place prior to the end of 2021”

Form 990, Part VI, Section B, Line 15

“Policies for the organization are being developed and are expected to be in place prior to the end of 2021”

Form 990, Part VI, Section C, Line 19

“The organization will provide in a timely manner, copies of all governing documents including its conflict of interest policies and financial statements when requested in writing or in person.”

Filing and Contact Details

Filer

Filer Name
Elevatemed Inc
EIN
83-3557457
Phone
4802695774
Address
12622 N 56TH PLACE, SCOTTSDALE, AZ 85254

Signing Officer

Name
Dr Alyx Umphrey
Title
Executive Director
Signed
2021-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Alyx Porter Umphrey
Formed
2018
Legal Domicile
Az
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
22

Preparer

Firm
Az Business Consulting
Address
PO BOX 702, WADDELL, AZ 85355
Preparer
Dawn Brown
Phone
6239771475
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees consists of fees paid for administrative support - 8,621, website and marketing consultants - 21,254, and branding - 13,300.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2POLICIES FOR THE ORGANIZATION ARE BEING DEVELOPED AND ARE EXPECTED TO BE IN PLACE PRIOR TO THE END OF 2021
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3POLICIES FOR THE ORGANIZATION ARE BEING DEVELOPED AND ARE EXPECTED TO BE IN PLACE PRIOR TO THE END OF 2021
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4POLICIES FOR THE ORGANIZATION ARE BEING DEVELOPED AND ARE EXPECTED TO BE IN PLACE PRIOR TO THE END OF 2021
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5POLICIES FOR THE ORGANIZATION ARE BEING DEVELOPED AND ARE EXPECTED TO BE IN PLACE PRIOR TO THE END OF 2021
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION WILL PROVIDE IN A TIMELY MANNER, COPIES OF ALL GOVERNING DOCUMENTS INCLUDING ITS CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS WHEN REQUESTED IN WRITING OR IN PERSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER PROFESSIONAL FEES CONSISTS OF FEES PAID FOR ADMINISTRATIVE SUPPORT - 8,621, WEBSITE AND MARKETING CONSULTANTS - 21,254, AND BRANDING - 13,300.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$359,901
Liabilities
$3,898
Net assets
$356,003
Revenue
$316,061
Expenses
$153,085
Net income
$162,976
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.86$0.00$4.86$8.54$7.15$1.39
2023Detailed filing. Detailed filing data is available for this year.$3.52$0.05$3.47$6.89$9.79$2.90
2022Detailed filing. Detailed filing data is available for this year.$6.38$0.00$6.38$5.13$3.97$1.16
2021Detailed filing. Detailed filing data is available for this year.$5.22$0.00$5.22$4.62$2.96$1.66
2020Detailed filing. Detailed filing data is available for this year.$3.60$0.04$3.56$3.16$1.53$1.63
2019Detailed filing. Detailed filing data is available for this year.$1.75$0.00$1.75$2.01$0.26$1.75
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.03$0.03$0.00