Civic Intelligence

Research Update

990 • Fiscal year 2021 • EIN 83-3619272

Jan 01, 2021 to Dec 31, 2021 • Filed on May 13, 2022

Organization Profilewww.researchupdate.org
412 William Street Apt 2Harrison, NJ 07029

(201) 936-6715

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.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

60th percentile

0.00x

Higher debt load relative to revenue than 60% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

86th percentile

49%

Higher net margin than 86% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$80,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 23.9% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets62nd percentile

Assets

$172,395

No earlier filing loaded for comparison.

Net Assets

$171,211

No earlier filing loaded for comparison.

Liabilities

$1,184

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin86th percentile

Revenue

$334,394

No earlier filing loaded for comparison.

Expenses

$168,936

No earlier filing loaded for comparison.

Net Income

$165,458

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2021: $172,395Liabilities 2021: $1,184Net Assets 2021: $171,2112021Assets 2022: $695,660Liabilities 2022: $66,562Net Assets 2022: $629,0982022Assets 2023: $1,026,788Liabilities 2023: $8,489Net Assets 2023: $1,018,2992023Assets 2024: $1,123,164Liabilities 2024: $15,003Net Assets 2024: $1,108,1612024

Highlighted filing

2021

Assets$172,395
Liabilities$1,184
Net Assets$171,211
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800K$600K$400K$200K$0Revenue 2021: $334,394Expenses 2021: $168,936Net Income 2021: $165,4582021Revenue 2022: $651,738Expenses 2022: $193,851Net Income 2022: $457,8872022Revenue 2023: $770,054Expenses 2023: $380,853Net Income 2023: $389,2012023Revenue 2024: $686,545Expenses 2024: $596,683Net Income 2024: $89,8622024

Highlighted filing

2021

Revenue$334,394
Expenses$168,936
Net Income$165,458
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 13, 2022
Return Version
2021v4.2
Gross Receipts
$334,394
Mission and Program Overview

Mission

To advance the knowledge of medicine and promote the best possible care for patients with adult and childhood-onset disorders by making current medical researchavailable free of cost to the community, students and physicians and encouraging students, residents, and fellows to embrace research, and promote new innovations in the medical field .

To advance the knowledge of medicine and promote the best possible care for patients with adult and childhood-onset disorders by making current medical research available free of cost to the community, students and Drs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,753$124,053▲ $118,300
Land, Buildings, and Equipment, Net-$48,342-
Total Assets$5,753$172,395▲ $166,642
Liabilities
Accounts Payable and Accrued Expenses-$1,184-
Total Liabilities$0$1,184▲ $1,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,753$171,211▲ $165,458
Total Net Assets Fund Balance$5,753$171,211▲ $165,458
Total Liabilities and Net Assets / Fund Balance$5,753$172,395▲ $166,642

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$48,342$5,371$53,713
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Urvish PatelPresident/CEOPT$80,000$80,000

Board Members and Trustees

NameTitle
Reymunda MacavilcaSecretary
Liseth LavadoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,951
Program Service Revenue
$327,443
Investment Income
$0
Other Revenue
$0
All Other Contributions
$6,951
Change in Net Assets
$165,458
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,936
Salaries, Compensation, and Employee Benefits$80,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$80,000--$80,000
Fees for Services Management$73,896$1,180-$75,076
Depreciation Depletion$5,371--$5,371
Travel$2,980--$2,980
Office Expenses$1,193$587-$1,780
Information Technology$1,561--$1,561
Conferences and Meetings$1,352--$1,352
Other Expenses$690--$690
Total Functional Expenses$167,169$1,767$0$168,936
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
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 9

“All directors can be reached at the address”

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

“The completed form 990 is reviewed and approved by the president and treasurer”

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

“The board of director have to report yearly if there is any conflict of interest with respect to organization”

Filing and Contact Details

Filer

Filer Name
Research Update Inc
EIN
83-3619272
Phone
2019366715
Address
412 WILLIAM STREET APT 2, Harrison, NJ 07029

Signing Officer

Name
Urvish Patel
Title
President
Phone
2019366715
Signed
2022-05-13
Discuss with paid preparer
No

Organization Details

Principal Officer
Urvish Patel
Formed
2019
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Ravi Ramaswamy Cpacgmacbm
Address
29 PERIWINKLE DR, MONMOUTH JUNCTION, NJ 08852
Preparer
Ravi Ramaswamy
Phone
7323551640
Supplemental Narrative

Additional Explanations

Form 990, Part I, Section 1, Line 1

“To advance the knowledge of medicine and promote the best possible care for patients with adult and childhood-onset disorders by making current medical research available free of cost to the community, students and physicians and encouraging students, residents, and fellows to embrace research, and promote new innovations in the medical field by supporting the early and mid-career medical students and physician-scientists to complete their research projects.”

Form 990, Part V, Section 3B, Line 3B

“There is no unrealted income”

Form 990, Part V, Section 14B, Line 14B

“There is no tanning services”

Raw XML Appendix327 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0To advance the knowledge of medicine and promote the best possible care for patients with adult and childhood-onset disorders by making current medical research available free of cost to the community, students and physicians and encouraging students, residents, and fellows to embrace research, and promote new innovations in the medical field by supporting the early and mid-career medical students and physician-scientists to complete their research projects.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE IS NO UNREALTED INCOME
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE IS NO TANNING SERVICES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DIRECTORS CAN BE REACHED AT THE ADDRESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPLETED FORM 990 IS REVIEWED AND APPROVED BY THE PRESIDENT AND TREASURER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTOR HAVE TO REPORT YEARLY IF THERE IS ANY CONFLICT OF INTEREST WITH RESPECT TO ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Section 1, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part V, Section 3B, Line 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part V, Section 14B, Line 14B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11B
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RAVI RAMASWAMY CPACGMACBM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt029 PERIWINKLE DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONMOUTH JUNCTION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008852
ReturnHeader/PreparerPersonGrp/PhoneNum07323551640
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAVI RAMASWAMY
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-05-13T12:41:59-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0URVISH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PATEL
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$172,395
Liabilities
$1,184
Net assets
$171,211
Revenue
$334,394
Expenses
$168,936
Net income
$165,458
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.12$0.02$1.11$0.69$0.60$0.09
2023Detailed filing. Detailed filing data is available for this year.$1.03$0.01$1.02$0.77$0.38$0.39
2022Detailed filing. Detailed filing data is available for this year.$0.70$0.07$0.63$0.65$0.19$0.46
2021Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.33$0.17$0.17