Civic Intelligence

Research Update

990 • Fiscal year 2022 • EIN 83-3619272

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 02, 2023

Organization Profilewww.researchupdate.org
15111 Provost Craig DrHumble, TX 77346

(201) 936-6715

Siviq Scores

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

Liabilities / Assets

67th percentile

0.10x

Higher debt load relative to assets than 67% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.10x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

94th percentile

70%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$60,000

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

97th percentile

304%

Faster asset growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

88th percentile

95%

Faster revenue growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$695,660

Up $523,265 (+304%) from 2021

Net Assets

Up

$629,098

Up $457,887 (+267%) from 2021

Liabilities

Up

$66,562

Up $65,378 (+5522%) from 2021

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin94th percentile

Revenue

Up

$651,738

Up $317,344 (+95%) from 2021

Expenses

Up

$193,851

Up $24,915 (+15%) from 2021

Net Income

Up

$457,887

Up $292,429 (+177%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

2022

Assets$695,660
Liabilities$66,562
Net Assets$629,098
Open 2022 Filing

Operations Trend

Revenue Growth88th percentile

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

2022

Revenue$651,738
Expenses$193,851
Net Income$457,887
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 2, 2023
Return Version
2022v5.0
Gross Receipts
$651,738
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$124,053$658,061▲ $534,008
Loans From Officers Directors-$62,778-
Land, Buildings, and Equipment, Net$48,342$37,599▼ $10,743
Total Assets$172,395$695,660▲ $523,265
Liabilities
Accounts Payable and Accrued Expenses$1,184$3,784▲ $2,600
Total Liabilities$1,184$66,562▲ $65,378
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$171,211$629,098▲ $457,887
Total Net Assets Fund Balance$171,211$629,098▲ $457,887
Total Liabilities and Net Assets / Fund Balance$172,395$695,660▲ $523,265

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,599$16,114$53,713
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Urvish PatelPresident/CEOPT$60,000$60,000

Board Members and Trustees

NameTitle
Reymunda MacavilcaSecretary
Liseth LavadoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$64,910
Program Service Revenue
$586,828
Investment Income
$0
Other Revenue
$0
All Other Contributions
$64,910
Change in Net Assets
$457,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$133,851
Salaries, Compensation, and Employee Benefits$60,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$70,295--$70,295
Current Officers, Directors, Trustees, and Key Employees$60,000--$60,000
Depreciation Depletion$10,743--$10,743
Office Expenses$10,048--$10,048
Travel$6,831$2,604-$9,435
All Other Expenses$5,994--$5,994
Other Expenses$3,964$1,956-$5,920
Fees for Services Legal$5,315--$5,315
Conferences and Meetings$4,727--$4,727
Fees for Services Accounting$2,400--$2,400
Occupancy$898--$898
Total Functional Expenses$189,171$4,680$0$193,851
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
Loans from Officers, Directors, Trustees, and Key Employees-$62,778-
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
15111 PROVOST CRAIG DR, Humble, TX 77346

Signing Officer

Name
Urvish Patel
Title
President
Phone
2019366715
Signed
2023-07-02
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 Appendix361 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
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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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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$695,660
Liabilities
$66,562
Net assets
$629,098
Revenue
$651,738
Expenses
$193,851
Net income
$457,887
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