Advancium Health Network Inc

“The audit committee and full board of directors review and approve the form 990 prior to its submission to the internal revenue service.”

“The organization's conflict of interest policy applies to directors, officers, committee members, and key employees who are required to annually review and acknowledge their compliance with the policy. Such individuals also complete an annual disclosure form of relevant financial and business interests, and have an ongoing duty to disclose any potential interests in a transaction under consideration by the board of directors. Interested persons are recused from consideration of and voting on any transaction in which they have conflict of interest.”

“The organization is in the process of creating a formal compensation setting policy which will be approved in 2025. In the course of business, the organization's board of directors has had oversight for this process.”

“Governing documents, conflict of interest policy and consolidated financial statements are available upo0n request.”

“Transform healthcare through novel collaborations to advance and apply innovative solutions to address the needs of underserved populations and communities. Advancium aims to fund activities, technologies and healthcare initiatives with a focus on pediatric medical technologies and therapeutics.”

“In 2024, the organization discontinued plans to operate a laboratory facility as part of a strategic shift from long-term laboratory management to focus on advancing innovations in pediatric rare diseases. The organization transitioned the related space and equipment to external partners. This transition resulted in the divestiture of certain fixed assets and a corresponding decrease in total assets reported at year-end.”

“The organization's employees are employed by a professional employment organization ("peo"), and accordingly, the form w-3 and all w-2's are filed through the peo.”

“Program strategy consulting: program service expenses 324,720. Management and general expenses 0. Fundraising expenses 0. Total expenses 324,720. Marketing consulting: program service expenses 94,911. Management and general expenses 220,064. Fundraising expenses 0. Total expenses 314,975. Scientific advisory consulting: program service expenses 215,060. Management and general expenses 0. Fundraising expenses 0. Total expenses 215,060. Environmental health and safety consulting: program service expenses 42,405. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,405. Other: program service expenses 30,011. Management and general expenses 0. Fundraising expenses 0. Total expenses 30,011.”

“Loss on uncollectible accounts -2,000,000. Gain on termination of lease 477,624.”