Civic Intelligence

Elevatemed Inc.

990 • Fiscal year 2024 • EIN 83-3557457

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 21, 2025

Organization ProfileWWW.ELEVATEMED.ORG
20701 N Scottsdale Road 107-462Scottsdale, AZ 85255

(480) 269-5774

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

69th percentile

16%

Higher net margin than 69% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

85th percentile

38%

Faster asset growth than 85% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

68th percentile

24%

Faster revenue growth than 68% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$486,187

Up $134,261 (+38%) from 2023

Net Assets

Up

$486,187

Up $138,950 (+40%) from 2023

Liabilities

Down

$0

Down $4,689 (-100%) from 2023

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin69th percentile

Revenue

Up

$853,873

Up $165,318 (+24%) from 2023

Expenses

Down

$715,347

Down $263,564 (-27%) from 2023

Net Income

Up

$138,526

Up $428,882 (+148%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2024

Assets$486,187
Liabilities$0
Net Assets$486,187
Open 2024 Filing

Operations Trend

Revenue Growth68th 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

2024

Revenue$853,873
Expenses$715,347
Net Income$138,526
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 21, 2025
Return Version
2024v5.0
Gross Receipts
$853,873
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
Cash and Non-Interest-Bearing Accounts$190,133$340,023▲ $149,890
Savings and Temporary Cash Investments$76,832$76,860▲ $28
Pledges and Grants Receivable$84,424$66,763▼ $17,661
Investments in Publicly Traded Securities$1,337$2,541▲ $1,204
Prepaid Expenses and Deferred Charges$-800--
Total Assets$351,926$486,187▲ $134,261
Liabilities
Accounts Payable and Accrued Expenses$4,689--
Total Liabilities$4,689$0▼ $4,689
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$347,237$486,187▲ $138,950
Total Net Assets Fund Balance$347,237$486,187▲ $138,950
Total Liabilities and Net Assets / Fund Balance$351,926$486,187▲ $134,261
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Dr Marissa VasquezBoard Vice C
Dr Andrew Sanderson IiDirector
Dr Bert VargasDirector
Dr Greg UmphreyDirector
Dr Jeshenna WatkinsDirector
Dr Ricardo CorreaDirector
Dr Shannon Smith HamiltonDirector
Gyasi Chisley Pmp FacheDirector
Maia S Mccuiston MdDirector
Wells DavisDirector
Dr Alyx Porter UmphreyExec Dir,boa
Antiqua CleggettExec Directo
Dr Tiffany HardawaySecretary
Patrick Brooks CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$502,757
Program Service Revenue
$0
Investment Income
$9
Other Revenue
$351,107
All Other Contributions
$9,566
Change in Net Assets
$138,526
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$371,963
Grants and Similar Amounts Paid$235,000
Salaries, Compensation, and Employee Benefits$103,384
Professional Fundraising Fees$5,000
Total Fundraising Expense$5,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$235,000--$235,000
Conferences and Meetings$176,467$2,186-$178,653
Other Salaries and Wages$4,423$84,039-$88,462
Fees for Services Other$66,279$6,401-$72,680
Information Technology$54,343--$54,343
Travel$41,088$662-$41,750
Advertising$10,946$1,216-$12,162
Payroll Taxes-$7,310-$7,310
Office Expenses$6,480$335-$6,815
Other Employee Benefits-$5,996-$5,996
Fees for Services Professional Fundraising--$5,000$5,000
Fees for Services Accounting-$4,460-$4,460
Pension Plan Contributions-$1,616-$1,616
Fees for Services Legal-$1,100-$1,100
Total Functional Expenses$595,026$115,321$5,000$715,347
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$351,107
Professional Fundraising Fees$5,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Scholors Progra$196,359---
Explosion of a$238,779$155,659-$155,659
Total Events$844,298$351,107-$351,107
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
Yes
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 12C

“At each board and committee meeting, if there is a discussion of selecting or engaging a vendor or service provider, all in attendance are asked to recuse themselves from this discussion if there could be a perceived conflict. Annually, the orgainzation reviews and discusses the conflict of interest policy and requests that each board member list and acknowledge any known conflicts.”

Form 990, Page 6, Part VI, Line 19

“Other professional fees includes amounts paid for administrative support, photography and videography, public relations, and wesite and marketing consultants.”

Filing and Contact Details

Filer

Filer Name
Elevatemed Inc
EIN
83-3557457
Phone
4802695774
Address
20701 N SCOTTSDALE ROAD 107-462, SCOTTSDALE, AZ 85255

Signing Officer

Name
Dr Alyx Porter Umphrey
Title
Exec Dir,board Chair
Phone
4802695774
Signed
2025-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Alyx Porter Umphrey
Formed
2018
Legal Domicile
Az
Voting Board Members
13
Independent Board Members
13
Employees
1

Preparer

Firm
Concierge Consulting and Accounting
Address
9903 E BELL ROAD SUITE 110, SCOTTSDALE, AZ 85260
Preparer
Theresa Valade
Phone
4803722543
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4B

“Scholarships and mentorship annually elevate med awards tuition-based scholarships to minimize the debt burden of medical school. Scholars are selected from partnering medical schools across the united states via a nomination process. The 2024 scholars cohort featured 20 students who each received 10,000, paid directly to the school. Through partnerships with the larry fitzgerald foundation and the first annual diane porter memorial scholarship, elevatemed was able to award an additional 20,000 to two select scholars. 13 scholars received residency relocation scholarships as they exited into competitive residency programs at 1,000 each. Since inception, elevatemed has awarded 1,200,000 in tuition based scholarships and support to 70 medical students across the united states.”

Form 990, Part IX, Line 11G

“Payroll processing 0 4,039 0 consultants 18,750 0 0 grant writers 12,725 0 0 leadership coaching 12,825 0 0 photographers and video 725 0 0 admin support 21,254 2,362 0 total 66,279 6,401 0”

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IRS990/Desc0ELEVATEMED IS A 501(C)(3) NONPROFIT ORGANIZATION COMMITTED TO ELEVATING MEDICINE BY PROVIDING SCHOLARSHIPS, MENTORSHIP, AND SUPPORT TO MEDICAL STUDENTS FROM AFRICAN-AMERICAN/BLACK, LATIN, AND NATIVE AMERICAN BACKGROUNDS. IMPROVING PHYSICIAN WORKFORCE DIVERSITY IS A CRITICAL COMPONENT IN THE FIGHT AGAINST HEALTH DISPARITIES. ONE TANGIBLE SOLUTION TO THIS IS THROUGH BOLSTERING THE PHYSICIAN WORKFORCE. ELEVATEMED EXISTS TO PRIORITIZE PHYSICIAN WORKFORCE DIVERSITY, CLOSE THE GAP OF FINANCIAL INEQUITY IN MEDICAL EDUCATION, AND SUPPORT THE NEXT GENERATION OF PHYSICIAN LEADERS. THE ELEVATEMED SCHOLARS PROGRAM IS A MULTIFACETED PROGRAM CONSISTING THE 5 PILLARS OF SCHOLARSHIP, MENTORSHIP, LEADERSHIP DEVELOPMENT, FINANCIAL WELLNESS EDUCATION, AND PEER NETWORKING.
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IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOLARSHIPS AND MENTORSHIP ANNUALLY ELEVATE MED AWARDS TUITION-BASED SCHOLARSHIPS TO MINIMIZE THE DEBT BURDEN OF MEDICAL SCHOOL. SCHOLARS ARE SELECTED FROM PARTNERING MEDICAL SCHOOLS ACROSS THE UNITED STATES VIA A NOMINATION PROCESS. THE 2024 SCHOLARS COHORT FEATURED 20 STUDENTS WHO EACH RECEIVED 10,000, PAID DIRECTLY TO THE SCHOOL. THROUGH PARTNERSHIPS WITH THE LARRY FITZGERALD FOUNDATION AND THE FIRST ANNUAL DIANE PORTER MEMORIAL SCHOLARSHIP, ELEVATEMED WAS ABLE TO AWARD AN ADDITIONAL 20,000 TO TWO SELECT SCHOLARS. 13 SCHOLARS RECEIVED RESIDENCY RELOCATION SCHOLARSHIPS AS THEY EXITED INTO COMPETITIVE RESIDENCY PROGRAMS AT 1,000 EACH. SINCE INCEPTION, ELEVATEMED HAS AWARDED 1,200,000 IN TUITION BASED SCHOLARSHIPS AND SUPPORT TO 70 MEDICAL STUDENTS ACROSS THE UNITED STATES.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PART 1 LINE 2 THE ORGANIZATION ONLY PROVIDES ASSISTANCE TO MEDICAL STUDENTS ENROLLED IN AN ACCREDITED US MEDICAL SCHOOL SCHOLARSHIPS ARE REMITTED DIRECTLY TO THE STUDENT'S INSTITUTION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS AND MENTORSHIP ANNUALLY ELEVATE MED AWARDS TUITION-BASED SCHOLARSHIPS TO MINIMIZE THE DEBT BURDEN OF MEDICAL SCHOOL. SCHOLARS ARE SELECTED FROM PARTNERING MEDICAL SCHOOLS ACROSS THE UNITED STATES VIA A NOMINATION PROCESS. THE 2024 SCHOLARS COHORT FEATURED 20 STUDENTS WHO EACH RECEIVED 10,000, PAID DIRECTLY TO THE SCHOOL. THROUGH PARTNERSHIPS WITH THE LARRY FITZGERALD FOUNDATION AND THE FIRST ANNUAL DIANE PORTER MEMORIAL SCHOLARSHIP, ELEVATEMED WAS ABLE TO AWARD AN ADDITIONAL 20,000 TO TWO SELECT SCHOLARS. 13 SCHOLARS RECEIVED RESIDENCY RELOCATION SCHOLARSHIPS AS THEY EXITED INTO COMPETITIVE RESIDENCY PROGRAMS AT 1,000 EACH. SINCE INCEPTION, ELEVATEMED HAS AWARDED 1,200,000 IN TUITION BASED SCHOLARSHIPS AND SUPPORT TO 70 MEDICAL STUDENTS ACROSS THE UNITED STATES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT EACH BOARD AND COMMITTEE MEETING, IF THERE IS A DISCUSSION OF SELECTING OR ENGAGING A VENDOR OR SERVICE PROVIDER, ALL IN ATTENDANCE ARE ASKED TO RECUSE THEMSELVES FROM THIS DISCUSSION IF THERE COULD BE A PERCEIVED CONFLICT. ANNUALLY, THE ORGAINZATION REVIEWS AND DISCUSSES THE CONFLICT OF INTEREST POLICY AND REQUESTS THAT EACH BOARD MEMBER LIST AND ACKNOWLEDGE ANY KNOWN CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER PROFESSIONAL FEES INCLUDES AMOUNTS PAID FOR ADMINISTRATIVE SUPPORT, PHOTOGRAPHY AND VIDEOGRAPHY, PUBLIC RELATIONS, AND WESITE AND MARKETING CONSULTANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PAYROLL PROCESSING 0 4,039 0 CONSULTANTS 18,750 0 0 GRANT WRITERS 12,725 0 0 LEADERSHIP COACHING 12,825 0 0 PHOTOGRAPHERS AND VIDEO 725 0 0 ADMIN SUPPORT 21,254 2,362 0 TOTAL 66,279 6,401 0
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$486,187
Liabilities
$0
Net assets
$486,187
Revenue
$853,873
Expenses
$715,347
Net income
$138,526
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