Civic Intelligence

Image Guided Therapy Research Institute (Igtri)

EIN 93-1922612 • 501(c)3 • Rockville, MD

Profile

The image guided therapy research institute supports research advancing minimally invasive technologies and procedures for safely treating challenging medical conditions.

12156 Parklawn Drive Suite MRockville, MD 20852

www.igtri.org/ABOUT

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

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

Source year 2024

Revenue Growth

Score unavailable

No value available

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

Source year 2024

Assets

Down

$3,456

Down $140,106 (-98%) from 2023

Liabilities

Down

$0

Down $56,999 (-100%) from 2023

Net Assets

Down

$3,456

Down $83,107 (-96%) from 2023

Revenue

Up

$735,000

Up $324,900 (+79%) from 2023

Expenses

Up

$818,107

Up $494,570 (+153%) from 2023

Net Income

Down

-$83,107

Down $169,670 (-196%) from 2023

Trend Graphs

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2023: $143,562Liabilities 2023: $56,999Net Assets 2023: $86,5632023Assets 2024: $3,456Liabilities 2024: $0Net Assets 2024: $3,4562024

Highlighted filing

2024

Assets$3,456
Liabilities$0
Net Assets$3,456

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2023: $410,100Expenses 2023: $323,537Net Income 2023: $86,5632023Revenue 2024: $735,000Expenses 2024: $818,107Net Income 2024: -$83,1072024

Highlighted filing

2024

Revenue$735,000
Expenses$818,107
Net Income-$83,107

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 5, 2025
Return Version
2024v5.2
Gross Receipts
$735,000
Mission and Program Overview

Mission

The image guided therapy research institute supports research advancing minimally invasive technologies and procedures for safely treating challenging medical conditions.

Scientists, engineers, and physicians at igtri perform and support research aimed at advancing medical imaging and minimally invasive technologies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$143,562$3,456▼ $140,106
Total Assets$143,562$3,456▼ $140,106
Liabilities
Accounts Payable and Accrued Expenses$56,999--
Total Liabilities$56,999$0▼ $56,999
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$86,563$3,456▼ $83,107
Total Net Assets Fund Balance$86,563$3,456▼ $83,107
Total Liabilities and Net Assets / Fund Balance$143,562$3,456▼ $140,106
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Oleg Udalov PhdSenior Physicist (1/1-10/1/24)FT$148,320$148,320
Lamar Mair PhdPresident (1/1-9/15/24)FT$108,748$108,748
Ying LiTreasurer-$17,100$17,100

Board Members and Trustees

NameTitle
Karen McgeePresident (start 9/16/24)
Irving WeinbergDirector
Stanley FrickeDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Mike PetrilloTechnical Engineering Consulting6055 ASHLEY COURT, Pleasanton, CA 94588$128,189
Acuitynano LLCTechnical Engineering Consulting5425 WISCONSIN AVE STE 600, Chevy Chase, MD 20815$116,804
Revenue and Support

Revenue Composition

Contributions and Grants
$735,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$735,000
Change in Net Assets
$-83,107
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$418,891
Other Expenses$399,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$306,223$33,000-$339,223
Other Salaries and Wages$211,021$17,879-$228,900
Current Officers, Directors, Trustees, and Key Employees$115,701$10,147-$125,848
Other Employee Benefits$33,595--$33,595
Payroll Taxes$25,636$2,281-$27,917
Other Expenses$26,700--$26,700
Fees for Services Accounting-$16,700-$16,700
Office Expenses$4,645$3,585-$8,230
Fees for Services Legal-$4,507-$4,507
Travel$3,491--$3,491
Pension Plan Contributions$2,631--$2,631
Insurance$184--$184
Advertising-$163-$163
Interest-$18-$18
Total Functional Expenses$729,827$88,280$0$818,107
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
Backup withholding compliance
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
Yes
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

The form 990 is prepared by an independent cpa firm and reviewed by the organization's president prior to filing with irs. All board members are informed of the form 990 contents and filing prior to filing.

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

Each director, principal officer and member of a committee with board of directors delegated powers shall sign annually a statement which affirms such person: (a) has received a copy of the conflict of interest policy; (b) has read and understands the policy: (c) has agreed to comply with the policy and (d) understands that the corporation is charitable and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Section B, Line 15A

Compensation is addressed by the board during budget reviews. The president is compenstated based on bls information on compensation for a person having the credentials held by the organization president, namely a phd in materials science.

Form 990, Part VI, Section C, Line 19

Financial statements will be posted to the organization's website after board review. Other government documents and the conflict of interest policy are included in form 1023 (which is publicly available).

Filing and Contact Details

Filer

Filer Name
Image Guided Therapy
EIN
93-1922612
Phone
2407207934
Address
12156 PARKLAWN DRIVE SUITE M, ROCKVILLE, MD 20852

Signing Officer

Name
Irving Weinberg
Title
Acting President
Phone
3013467944
Signed
2025-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Mcgee
Formed
2023
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
5
Volunteers
3

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
6116 EXECUTIVE BLVD STE 600, ROCKVILLE, MD 20852
Preparer
Mitchell Berman
Phone
3015899000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

The image guided therapy research institute (igtri) focuses on research and development of modular systems for diagnosis and image-guided therapy. The objective is to develop modular systems that could eventually replace existing medical imaging and image-guided systems. The newly-developed systems will be less expensive, more compact and more flexible, and do not expose patients to ionizing radiation. Igtri collaborates with the staff of children's national hospital. During 2024, the institute developed an mri using electropermanent magnets modeling and controls, magnetic field measurement and calibration, image reconstruction from inhomogenous magnetic field data, new pulse sequences that are specifically attuned to inhomogenous fields and methods of shrinking the footprint of the system via size reduction of critical components.

Form 990, Part IX, Line 11G

Consultant: program service expenses 306,223. Management and general expenses 33,000. Fundraising expenses 0. Total expenses 339,223.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT (START 9/16/24)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE IMAGE GUIDED THERAPY RESEARCH INSTITUTE (IGTRI) FOCUSES ON RESEARCH AND DEVELOPMENT OF MODULAR SYSTEMS FOR DIAGNOSIS AND IMAGE-GUIDED THERAPY. THE OBJECTIVE IS TO DEVELOP MODULAR SYSTEMS THAT COULD EVENTUALLY REPLACE EXISTING MEDICAL IMAGING AND IMAGE-GUIDED SYSTEMS. THE NEWLY-DEVELOPED SYSTEMS WILL BE LESS EXPENSIVE, MORE COMPACT AND MORE FLEXIBLE, AND DO NOT EXPOSE PATIENTS TO IONIZING RADIATION. IGTRI COLLABORATES WITH THE STAFF OF CHILDREN'S NATIONAL HOSPITAL. DURING 2024, THE INSTITUTE DEVELOPED AN MRI USING ELECTROPERMANENT MAGNETS MODELING AND CONTROLS, MAGNETIC FIELD MEASUREMENT AND CALIBRATION, IMAGE RECONSTRUCTION FROM INHOMOGENOUS MAGNETIC FIELD DATA, NEW PULSE SEQUENCES THAT ARE SPECIFICALLY ATTUNED TO INHOMOGENOUS FIELDS AND METHODS OF SHRINKING THE FOOTPRINT OF THE SYSTEM VIA SIZE REDUCTION OF CRITICAL COMPONENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE ORGANIZATION'S PRESIDENT PRIOR TO FILING WITH IRS. ALL BOARD MEMBERS ARE INFORMED OF THE FORM 990 CONTENTS AND FILING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD OF DIRECTORS DELEGATED POWERS SHALL SIGN ANNUALLY A STATEMENT WHICH AFFIRMS SUCH PERSON: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (B) HAS READ AND UNDERSTANDS THE POLICY: (C) HAS AGREED TO COMPLY WITH THE POLICY AND (D) UNDERSTANDS THAT THE CORPORATION IS CHARITABLE AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS ADDRESSED BY THE BOARD DURING BUDGET REVIEWS. THE PRESIDENT IS COMPENSTATED BASED ON BLS INFORMATION ON COMPENSATION FOR A PERSON HAVING THE CREDENTIALS HELD BY THE ORGANIZATION PRESIDENT, NAMELY A PHD IN MATERIALS SCIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIAL STATEMENTS WILL BE POSTED TO THE ORGANIZATION'S WEBSITE AFTER BOARD REVIEW. OTHER GOVERNMENT DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE INCLUDED IN FORM 1023 (WHICH IS PUBLICLY AVAILABLE).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONSULTANT: PROGRAM SERVICE EXPENSES 306,223. MANAGEMENT AND GENERAL EXPENSES 33,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 339,223.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0143562
IRS990/TotalAssetsEOYAmt03456
IRS990/TotalAssetsGrp/BOYAmt0143562
IRS990/TotalAssetsGrp/EOYAmt03456
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0735000
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt088280
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0729827
IRS990/TotalFunctionalExpensesGrp/TotalAmt0818107
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt056999
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt056999
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt086563
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03456
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0729827
IRS990/TotalReportableCompFromOrgAmt0274168
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0735000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0143562
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03456
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03491
IRS990/TravelGrp/TotalAmt03491
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt012156 PARKLAWN DRIVE SUITE M
IRS990/USAddress/CityNm0ROCKVILLE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd020852
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0HTTPS://WWW.IGTRI.ORG/ABOUT
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0IRVING WEINBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ACTING PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03013467944
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMAGE GUIDED THERAPY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0RESEARCH INSTITUTE (IGTRI)
ReturnHeader/Filer/BusinessNameControlTxt0IMAG
ReturnHeader/Filer/EIN0931922612
ReturnHeader/Filer/PhoneNum02407207934
ReturnHeader/Filer/USAddress/AddressLine1Txt012156 PARKLAWN DRIVE SUITE M
ReturnHeader/Filer/USAddress/CityNm0ROCKVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020852
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0882730877
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHERRY BEKAERT ADVISORY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06116 EXECUTIVE BLVD STE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROCKVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020852
ReturnHeader/PreparerPersonGrp/PhoneNum03015899000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MITCHELL BERMAN
ReturnHeader/ReturnTs02025-08-07T11:03:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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