Civic Intelligence

Research Update

990 • Fiscal year 2023 • EIN 83-3619272

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 16, 2024

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

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

90th percentile

51%

Higher net margin than 90% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

50th percentile

$60,000

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

88th percentile

48%

Faster asset growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

65th percentile

18%

Faster revenue growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$1,026,788

Up $331,128 (+48%) from 2022

Net Assets

Up

$1,018,299

Up $389,201 (+62%) from 2022

Liabilities

Down

$8,489

Down $58,073 (-87%) from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin90th percentile

Revenue

Up

$770,054

Up $118,316 (+18%) from 2022

Expenses

Up

$380,853

Up $187,002 (+96%) from 2022

Net Income

Down

$389,201

Down $68,686 (-15%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth88th 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

2023

Assets$1,026,788
Liabilities$8,489
Net Assets$1,018,299
Open 2023 Filing

Operations Trend

Revenue Growth65th 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

2023

Revenue$770,054
Expenses$380,853
Net Income$389,201
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 16, 2024
Return Version
2023v5.1
Gross Receipts
$770,054
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
Receivables From Officers Etc-$928,400-
Cash and Non-Interest-Bearing Accounts$658,061$71,532▼ $586,529
Loans From Officers Directors$62,778--
Land, Buildings, and Equipment, Net$37,599$26,856▼ $10,743
Total Assets$695,660$1,026,788▲ $331,128
Liabilities
Accounts Payable and Accrued Expenses$3,784$8,489▲ $4,705
Total Liabilities$66,562$8,489▼ $58,073
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$629,098$1,018,299▲ $389,201
Total Net Assets Fund Balance$629,098$1,018,299▲ $389,201
Total Liabilities and Net Assets / Fund Balance$695,660$1,026,788▲ $331,128

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$26,856$26,857$53,713
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

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

Board Members and Trustees

NameTitle
Reymunda MacavilcaSecretary
Liseth LavadoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,755
Program Service Revenue
$760,299
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,755
Change in Net Assets
$389,201
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$320,853
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$204,505--$204,505
Current Officers, Directors, Trustees, and Key Employees$60,000--$60,000
Office Expenses$12,555$7,323-$19,878
Insurance$19,776--$19,776
Travel$11,975$2,384-$14,359
Other Expenses$12,014$66-$12,014
Depreciation Depletion$10,743--$10,743
Information Technology$9,795--$9,795
Conferences and Meetings$8,411--$8,411
Occupancy$7,211--$7,211
Advertising$6,207$447-$6,654
Fees for Services Accounting-$2,400-$2,400
Fees for Services Legal$1,084--$1,084
Total Functional Expenses$368,233$12,620$0$380,853
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 Officers, Directors, Trustees, and Key Employees-$928,400-
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
2024-10-16
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 Cpacgma
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 Appendix360 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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,026,788
Liabilities
$8,489
Net assets
$1,018,299
Revenue
$770,054
Expenses
$380,853
Net income
$389,201
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