Civic Intelligence

Loumed Inc

990 • Fiscal year 2023 • EIN 92-1862183

Jan 12, 2023 to Dec 31, 2023 • Filed on May 13, 2024

Organization ProfileWWW.LOUISVILLEMEDICALEDUCATIONDISTRICT.COM
234 E Gray Street Suite 235Louisville, KY 40202

(502) 629-5290

Siviq Scores

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

Liabilities / Assets

99th percentile

1.85x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

71st percentile

0.35x

Higher debt load relative to revenue than 71% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

15th percentile

-16%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$176,286

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 15.8% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

$207,891

No earlier filing loaded for comparison.

Net Assets

-$177,437

No earlier filing loaded for comparison.

Liabilities

$385,328

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin15th percentile

Revenue

$1,116,562

No earlier filing loaded for comparison.

Expenses

$1,293,999

No earlier filing loaded for comparison.

Net Income

-$177,437

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.

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2023: $207,891Liabilities 2023: $385,328Net Assets 2023: -$177,4372023Assets 2024: $1,785,890Liabilities 2024: $50,243Net Assets 2024: $1,735,6472024

Highlighted filing

2023

Assets$207,891
Liabilities$385,328
Net Assets-$177,437
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2023: $1,116,562Expenses 2023: $1,293,999Net Income 2023: -$177,4372023Revenue 2024: $3,578,973Expenses 2024: $1,715,889Net Income 2024: $1,863,0842024

Highlighted filing

2023

Revenue$1,116,562
Expenses$1,293,999
Net Income-$177,437
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 12, 2023 to Dec 31, 2023
Signed
May 13, 2024
Return Version
2023v5.0
Gross Receipts
$1,116,562
Mission and Program Overview

Mission

To create a world-class medical education district that is safe, clean, innovative, and collaborative.

To create a world-class medical education district that is safe, clean, innovative, (see schedule o) and collaborative.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$206,771-
Savings and Temporary Cash Investments-$1,120-
Total Assets$0$207,891▲ $207,891
Liabilities
Accounts Payable and Accrued Expenses-$385,328-
Total Liabilities$0$385,328▲ $385,328
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-177,437-
Total Net Assets Fund Balance$0$-177,437▼ $177,437
Total Liabilities and Net Assets / Fund Balance$0$207,891▲ $207,891
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nadareca ThibeauxExecutive DirectorFT$154,599$21,687$176,286

Board Members and Trustees

NameTitle
Ken MarshallChair
Gary DrydenVice Chair
Andrew MccarthyDirector
Jeffrey BumpousDirector
John WalschDirector
Pamela TurnerDirector
Riggs LewisDirector
Ty HandyDirector
Matt AyersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Block By BlockSecurity, Grounds Keeping, Wayfinding640 SOUTH FOURTH STREET SUITE 110, Louisville, KY 40202$797,051
Revenue and Support

Revenue Composition

Contributions and Grants
$188,113
Program Service Revenue
$928,353
Investment Income
$96
Other Revenue
$0
All Other Contributions
$188,113
Change in Net Assets
$-177,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,105,886
Salaries, Compensation, and Employee Benefits$188,113
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$176,286--$176,286
Fees for Services Legal-$151,048-$151,048
Fees for Services Other$55,061--$55,061
Advertising$1,037$33,056-$34,093
Payroll Taxes$11,827--$11,827
Office Expenses-$4,141-$4,141
Information Technology-$2,613-$2,613
Insurance-$2,122-$2,122
Fees for Services Accounting-$952-$952
Other Expenses$56,931$552-$552
Travel-$48-$48
Interest-$38-$38
Total Functional Expenses$1,098,193$195,806$0$1,293,999
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization has three voting members, jefferson community and technical college foundation, inc., norton healthcare, inc., and university of lousville/uofl health, inc. (collectively referred to as the voting members).”

Form 990, Part VI, Section A, Line 7A

“Each member has the right to appoint up to three directors. However, each member shall have one vote regardless of the number of directors.”

Form 990, Part VI, Section A, Line 7B

“The voting members, until the last remaining voting member has been dissolved or resigned, have the sole right to vote as to the election of directors or as to any other matters presented to the members for consideration.”

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

“The form 990 is reviewed by the executive director and board of directors prior to being filed.”

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

“The board of directors reviews the conflict of interest policy annually and board officers address any potential or actual conflicts of interest.”

Form 990, Part VI, Section B, Line 15

“The executive director's salary is determined and paid by one of the member organizations as a donation. Therefore, the w2 is issued by the member organization.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Loumed Inc
EIN
92-1862183
Phone
5026295290
Address
234 E GRAY STREET SUITE 235, LOUISVILLE, KY 40202

Signing Officer

Name
Nadareca Thibeaux
Title
Executive Director
Phone
5026295290
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nadareca Thibeaux
Formed
2023
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Deming Malone Livesay & Ostroff Psc
Address
9300 SHELBYVILLE RD STE 1100, LOUISVILLE, KY 40222-5187
Preparer
Christine N Koenig
Phone
5024269660
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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/ExplanationTxt0THE ORGANIZATION HAS THREE VOTING MEMBERS, JEFFERSON COMMUNITY AND TECHNICAL COLLEGE FOUNDATION, INC., NORTON HEALTHCARE, INC., AND UNIVERSITY OF LOUSVILLE/UOFL HEALTH, INC. (COLLECTIVELY REFERRED TO AS THE VOTING MEMBERS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER HAS THE RIGHT TO APPOINT UP TO THREE DIRECTORS. HOWEVER, EACH MEMBER SHALL HAVE ONE VOTE REGARDLESS OF THE NUMBER OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE VOTING MEMBERS, UNTIL THE LAST REMAINING VOTING MEMBER HAS BEEN DISSOLVED OR RESIGNED, HAVE THE SOLE RIGHT TO VOTE AS TO THE ELECTION OF DIRECTORS OR AS TO ANY OTHER MATTERS PRESENTED TO THE MEMBERS FOR CONSIDERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY AND BOARD OFFICERS ADDRESS ANY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED AND PAID BY ONE OF THE MEMBER ORGANIZATIONS AS A DONATION. THEREFORE, THE W2 IS ISSUED BY THE MEMBER ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0207891
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0207891
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0188113
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0195806
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01098193
IRS990/TotalFunctionalExpensesGrp/TotalAmt01293999
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0385328
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0385328
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-177437
IRS990/TotalOtherCompensationAmt021687
IRS990/TotalProgramServiceExpensesAmt01098193
IRS990/TotalProgramServiceRevenueAmt0928353
IRS990/TotalReportableCompFromOrgAmt0154599
IRS990/TotalRevenueGrp/ExclusionAmt096
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0928353
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01116562
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0207891
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt048
IRS990/TravelGrp/TotalAmt048
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0234 E GRAY STREET SUITE 235
IRS990/USAddress/CityNm0LOUISVILLE
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040202
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.LOUISVILLEMEDICALEDUCATIONDISTRICT.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NADARECA THIBEAUX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05026295290
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOUMED INC
ReturnHeader/Filer/BusinessNameControlTxt0LOUM
ReturnHeader/Filer/EIN0921862183
ReturnHeader/Filer/PhoneNum05026295290
ReturnHeader/Filer/USAddress/AddressLine1Txt0234 E GRAY STREET SUITE 235
ReturnHeader/Filer/USAddress/CityNm0LOUISVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040202
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611064249
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DEMING MALONE LIVESAY & OSTROFF PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09300 SHELBYVILLE RD STE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0402225187
ReturnHeader/PreparerPersonGrp/PhoneNum05024269660
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINE N KOENIG
ReturnHeader/ReturnTs02024-05-13T14:43:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NADARECA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THIBEAUX
ReturnHeader/TaxPeriodBeginDt02023-01-12
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$207,891
Liabilities
$385,328
Net assets
-$177,437
Revenue
$1,116,562
Expenses
$1,293,999
Net income
-$177,437
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.79$0.05$1.74$3.58$1.72$1.86
2023Detailed filing. Detailed filing data is available for this year.$0.21$0.39$0.18$1.12$1.29$0.18