Civic Intelligence

Institute for Life Changing Medicines Inc

EIN 84-5046384 • 501(c)3 • New York, NY

Profile

The organization's mission is to develop therapies for diseases that for-profit, commercial developers deem too rare, and therefore not commercially viable to develop, and to provide access to these therapies to all patients in need.

345 Park Avenue 12th FloorNew York, NY 10010

lifechangingmedicines.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.06x

Higher debt load relative to assets than 94% of similar nonprofits.

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

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

Asset Growth

33rd percentile

-2.8%

Faster asset growth than 33% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Down

$882,673

Down $25,856 (-2.8%) from 2023

Liabilities

Flat

$932,895

Flat from 2023

Net Assets

Down

-$50,222

Down $25,856 (-106%) from 2023

Revenue

Flat

$0

Flat from 2023

Expenses

Down

$25,856

Down $32,352 (-56%) from 2023

Net Income

Up

-$25,856

Up $32,352 (+56%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2020: $1,008,789Liabilities 2020: $0Net Assets 2020: $1,008,7892020Assets 2021: $990,626Liabilities 2021: $648,780Net Assets 2021: $341,8462021Assets 2022: $966,737Liabilities 2022: $932,895Net Assets 2022: $33,8422022Assets 2023: $908,529Liabilities 2023: $932,895Net Assets 2023: -$24,3662023Assets 2024: $882,673Liabilities 2024: $932,895Net Assets 2024: -$50,2222024

Highlighted filing

2024

Assets$882,673
Liabilities$932,895
Net Assets-$50,222

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2020: $1,047,521Expenses 2020: $38,732Net Income 2020: $1,008,7892020Revenue 2021: $100,339Expenses 2021: $767,282Net Income 2021: -$666,9432021Revenue 2022: $143Expenses 2022: $308,147Net Income 2022: -$308,0042022Revenue 2023: $0Expenses 2023: $58,208Net Income 2023: -$58,2082023Revenue 2024: $0Expenses 2024: $25,856Net Income 2024: -$25,8562024

Highlighted filing

2024

Revenue$0
Expenses$25,856
Net Income-$25,856

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$143
Mission and Program Overview

Mission

The organization's mission is to develop therapies for diseases that for-profit, commercial developers deem too rare, and therefore not commercially viable to develop, and to provide access to these therapies to all patients in need.

A world free from devastating genetic diseases.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$641,129$955,364▲ $314,235
Pledges and Grants Receivable$333,334$0▼ $333,334
Prepaid Expenses and Deferred Charges$9,010$8,699▼ $311
Intangible Assets$7,153$2,674▼ $4,479
Total Assets$990,626$966,737▼ $23,889
Liabilities
Accounts Payable and Accrued Expenses$648,780$932,895▲ $284,115
Total Liabilities$648,780$932,895▲ $284,115
Net Assets / Fund Balance
Net Assets With Donor Restrictions$333,334$0▼ $333,334
Net Assets Without Donor Restrictions$8,512$33,842▲ $25,330
Total Net Assets Fund Balance$341,846$33,842▼ $308,004
Total Liabilities and Net Assets / Fund Balance$990,626$966,737▼ $23,889
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alexander KarnalChairman, CEO
Judith Lea Swain MdDirector
Julian Harris MdDirector
Monique MolloyDirector
Bryan SendrowskiCFO
Lawrence AtinskyChief Operating Officer
James Wilson Md PhdChief Scientific Officer,
Anshul MangalChief Strategy Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$143
Change in Net Assets
$-308,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$308,147
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance-$12,592-$12,592
Fees for Services Legal-$6,836-$6,836
Depreciation Depletion$4,479--$4,479
Other Expenses$284,115$125-$125
Total Functional Expenses$288,594$19,553$0$308,147
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A draft of form 990 is reviewed and approved by the board prior to filing.

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

Board members are required to disclose any conflicts of interest on an annual basis and as potential conflicts arise.

Form 990, Part VI, Section B, Line 15

The board establishes compensation based upon a review of comparability data for similarly qualified indivduals in comparable poistions at similar organizations, documented in minutes of the meeting during with the compensation is approved. The organization does not currently have any compensated employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Institute for Life Changing Medicines
EIN
84-5046384
Phone
2039181058
Address
345 PARK AVENUE 12TH FLOOR, NEW YORK, NY 10010

Signing Officer

Name
Bryan Sendrowski
Title
CFO
Phone
2039181058
Signed
2023-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bryan Sendrowski
Formed
2020
Legal Domicile
De
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Marcum Llp
Address
10 MELVILLE PARK ROAD, MELVILLE, NY 11747-3146
Preparer
Mary Ann Mendel
Phone
6314144000
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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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN, CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF SCIENTIFIC OFFICER,
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INSTITUTE FOR LIFE CHANGING MEDICINES
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0INST
ReturnHeader/Filer/EIN0845046384
ReturnHeader/Filer/PhoneNum02039181058
ReturnHeader/Filer/USAddress/AddressLine1Txt0345 PARK AVENUE 12TH FLOOR
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010010
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0111986323
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARCUM LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010 MELVILLE PARK ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MELVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0117473146
ReturnHeader/PreparerPersonGrp/PhoneNum06314144000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY ANN MENDEL
ReturnHeader/ReturnTs02023-11-14T09:25:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRYAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SENDROWSKI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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