Civic Intelligence

Alfred E Mann Foundation for Scientific Research

990 • Fiscal year 2020 • EIN 95-4002032

Apr 01, 2019 to Mar 31, 2020 • Filed on Jul 21, 2020

Organization ProfileWWW.AEMF.ORG

View Organization Page

25134 Rye Canyon LoopSanta Clarita, CA 91355

(661) 702-6700

Siviq Scores

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

Liabilities / Assets

41st percentile

0.19x

Higher debt load relative to assets than 41% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

4.97x

Higher debt load relative to revenue than 93% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

1st percentile

-499%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

86th percentile

$934,437

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 40.4% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

1st percentile

-37%

Faster asset growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

591%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$59,071,014

Down $34,458,337 (-37%) from 2019

Net Assets

Down

$47,580,238

Down $38,853,775 (-45%) from 2019

Liabilities

Up

$11,490,776

Up $4,395,438 (+62%) from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin1st percentile

Revenue

Up

$2,312,474

Up $1,977,768 (+591%) from 2019

Expenses

Up

$13,859,108

Up $5,817,969 (+72%) from 2019

Net Income

Down

-$11,546,634

Down $3,840,201 (-50%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2011: $149,147,272Liabilities 2011: $15,477,095Net Assets 2011: $133,670,1772011Assets 2012: $127,153,690Liabilities 2012: $14,940,475Net Assets 2012: $112,213,2152012Assets 2013: $121,867,281Liabilities 2013: $15,413,443Net Assets 2013: $106,453,8382013Assets 2014: $114,740,000Liabilities 2014: $11,197,787Net Assets 2014: $103,542,2132014Assets 2015: $108,633,540Liabilities 2015: $15,219,334Net Assets 2015: $93,414,2062015Assets 2016: $82,113,434Liabilities 2016: $8,156,995Net Assets 2016: $73,956,4392016Assets 2017: $63,522,432Liabilities 2017: $1,651,881Net Assets 2017: $61,870,5512017Assets 2018: $50,020,916Liabilities 2018: $656,801Net Assets 2018: $49,364,1152018Assets 2019: $93,529,351Liabilities 2019: $7,095,338Net Assets 2019: $86,434,0132019Assets 2020: $59,071,014Liabilities 2020: $11,490,776Net Assets 2020: $47,580,2382020Assets 2021: $307,411,437Liabilities 2021: $2,731,424Net Assets 2021: $304,680,0132021Assets 2022: $374,343,975Liabilities 2022: $2,647,791Net Assets 2022: $371,696,1842022Assets 2023: $344,680,217Liabilities 2023: $5,996,723Net Assets 2023: $338,683,4942023Assets 2024: $372,537,856Liabilities 2024: $6,669,955Net Assets 2024: $365,867,9012024Assets 2025: $353,361,768Liabilities 2025: $6,385,007Net Assets 2025: $346,976,7612025

Highlighted filing

2020

Assets$59,071,014
Liabilities$11,490,776
Net Assets$47,580,238
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

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

$300M$200M$100M$0-$100MExpenses 2011: $21,995,3702011Expenses 2012: $24,699,7402012Expenses 2013: $22,317,5392013Revenue 2014: $19,639,842Expenses 2014: $24,203,179Net Income 2014: -$4,563,3372014Revenue 2015: $7,594,704Expenses 2015: $17,902,645Net Income 2015: -$10,307,9412015Revenue 2016: $4,540,535Expenses 2016: $17,253,210Net Income 2016: -$12,712,6752016Revenue 2017: $986,677Expenses 2017: $15,345,907Net Income 2017: -$14,359,2302017Revenue 2018: $431,624Expenses 2018: $13,081,377Net Income 2018: -$12,649,7532018Revenue 2019: $334,706Expenses 2019: $8,041,139Net Income 2019: -$7,706,4332019Revenue 2020: $2,312,474Expenses 2020: $13,859,108Net Income 2020: -$11,546,6342020Revenue 2021: $225,963,433Expenses 2021: $22,418,205Net Income 2021: $203,545,2282021Revenue 2022: $128,538,828Expenses 2022: $18,142,697Net Income 2022: $110,396,1312022Revenue 2023: $31,054,042Expenses 2023: $22,822,234Net Income 2023: $8,231,8082023Revenue 2024: $44,147,259Expenses 2024: $31,844,936Net Income 2024: $12,302,3232024Revenue 2025: $18,144,382Expenses 2025: $41,776,524Net Income 2025: -$23,632,1422025

Highlighted filing

2020

Revenue$2,312,474
Expenses$13,859,108
Net Income-$11,546,634
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Jul 21, 2020
Return Version
2019v5.1
Gross Receipts
$9,491,255
Mission and Program Overview

Mission

The alfred mann foundation is a medical research organization dedicated to bringing advanced medical technologies to the public to provide significant improvements to the health, security and quality of life for people suffering from debilitating medical conditions.

Conduct medical and scientific research

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$319,084$40,819,608▲ $40,500,524
Savings and Temporary Cash Investments$294,449$10,066,791▲ $9,772,342
Investments Other Securities$88,801,381$2,457,544▼ $86,343,837
Intangible Assets$916,321$1,571,358▲ $655,037
Other Notes and Loans Receivable, Net-$1,258,458-
Cash and Non-Interest-Bearing Accounts$1,602,272$868,093▼ $734,179
Land, Buildings, and Equipment, Net$775,444$641,171▼ $134,273
Prepaid Expenses and Deferred Charges$101,460$92,936▼ $8,524
Accounts Receivable$68,434$8,361▼ $60,073
Total Assets$93,529,351$59,071,014▼ $34,458,337
Other Assets Total$650,506$1,286,694▲ $636,188
Liabilities
Deferred Revenue$6,000,000$8,000,000▲ $2,000,000
Accounts Payable and Accrued Expenses$1,095,338$3,490,776▲ $2,395,438
Total Liabilities$7,095,338$11,490,776▲ $4,395,438
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$86,434,013$47,580,238▼ $38,853,775
Total Net Assets Fund Balance$86,434,013$47,580,238▼ $38,853,775
Total Liabilities and Net Assets / Fund Balance$93,529,351$59,071,014▼ $34,458,337

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$100,725$4,805,450$4,906,175
Other Land Buildings$18,116$2,034,924$2,053,040
Leasehold Improvements$522,330$713,560$1,235,890
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark ChamberlainChief Operating OfficerFT$294,470$639,967$934,437
John PetrovichPresident and CEOFT$342,147$577,943$920,090
Farah BoroomandChief Financial OfficerFT$247,308$607,249$854,557
David Hankin Thru 73117Former Chief Executive Officer-$627,628$627,628$627,628
Robert GreenbergChairman of the Board/ Executive ChairmanFT$417,921$37,238$455,159
Robert GreenbergChairman of the Board/ Executive CHA-$415,921$39,238$455,159
Michael PerrinVP Qual. Assur., Regulatory, OperationsFT$419,457$25,922$445,379
Michael PerrinVP Qual. Assur., Regulatory, Operati-$171,096$274,283$445,379
Brian DeardenDirector, Electrical EngineeringFT$170,212$246,827$417,039
Joseph CalderonDirector, Mechanical EngineeringFT$151,709$245,156$396,865
Glen Griffith Thru 12717Former Technical Director-$699$392,268$392,967
Siegmar Schmidt Thru 12717Former Emerging Tech. Grp. Mgr.-$392,268$392,268$392,268
Valma KleinDirector, Clinical ResearchFT$166,982$35,791$202,773
Philip LeeAssistant General CounselFT$152,841$38,253$191,094
Sam BowmanPrincipal Engineer ElectricalFT$146,404$29,502$175,906
Karen MorrisSr. Director, Hr & Facilities Mgmt.FT$141,728$27,160$168,888
Xiaodong YangSystems Validation Group ManagerFT$138,044$28,498$166,542
Harshit SuriPrincipal Design EngineerFT$136,957$20,982$157,939

Board Members and Trustees

NameTitle
David Gill Started 3302020Board Member
David Long Started 3302020Board Member
Ken WeatherwaxBoard Member
Mari DanihelBoard Member
Richard WaughBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Computer Packages INCPatent Renewals11 N WASHINGTON STREET SUITE 300, Rockville, MD 20850$101,352
Revenue and Support

Revenue Composition

Contributions and Grants
$936
Program Service Revenue
$887,240
Investment Income
$-104,857
Other Revenue
$1,529,155
All Other Contributions
$936
Change in Net Assets
$-11,546,634

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,312,474
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,880,310
Total Revenue per Audited Statements
$7,192,784
Total Revenue per Form 990
$2,312,474
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,341,164
Other Expenses$4,512,944
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$4,077,201$1,330,703-$5,407,904
Other Salaries and Wages$2,617,818$441,439-$3,059,257
Fees for Services Legal$2,091,776$129,214-$2,220,990
Occupancy$685,242$194,645-$879,887
Other Employee Benefits$405,134$76,299-$481,433
Office Expenses$320,210$70,045-$390,255
Payroll Taxes$280,603$73,082-$353,685
Depreciation Depletion$237,328$58,534-$295,862
Fees for Services Other$166,851$123,535-$290,386
Information Technology$86,259$43,108-$129,367
Fees for Services Accounting$7,165$75,385-$82,550
Insurance$51,280$14,556-$65,836
Pension Plan Contributions$30,239$8,646-$38,885
Travel$27,372$10,797-$38,169
Other Expenses$15,462$4,188-$19,650
Conferences and Meetings$7,788$6,608-$14,396
Grants to Domestic Orgs$5,000--$5,000
Total Functional Expenses$11,183,048$2,676,060$0$13,859,108

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,859,108
Total Expenses per Audited Statements$13,859,108
Total Expenses per Form 990$13,859,108
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$468,034

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$467,914
Central America and the CaribbeanInvestment Fee Expenditures-00$120
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
Audit committee
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“Article vii of the amended and restated articles of incorporation of this corporation is amended to read as follows: the property of this corporation is irrevocably dedicated to charitable and scientific purposes meeting the requirements of california revenue and taxation code section 214. Upon the dissolution or winding up of this corporation, after paying or adequately providing for the debts and obligations thereof, any remaining assets shall be distributed, for use in furtherance of the purposes of this corporation as set forth above in those articles of incorporation to one or more nonprofit funds, foundations or corporations, which are then in existence, which are organized and operated exclusively for charitable and scientific purposes meeting the requirements of revenue and taxation code section 214, and which have established their tax exempt status a section 501(c)(3) of the internal revenue code of 1986 as amended (or any corresponding provision of future united states internal revenue law).”

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

“A draft of the 990 will be presented by management to the audit committee of the board of directors for their review and discussion. A full copy of the form will be provided to all voting members prior to filing with the irs.”

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

“Conflict of interest disclosures are updated annually and potential conflicts are reviewed prior to participating in transactions. If a conflict exists, the person with a conflict does not vote.”

Form 990, Part VI, Section B, Line 15

“The board of directors reviews and approves the compensation of the ceo and his direct reports including the cfo. They also review and approve the overall annual adjustments to compensation of other employees. Specific adjustments for other employees are handled by the ceo and head of human resources using comparisons to salary surveys for similar positions and experience. The board of directors approved compensation for the ceo and his direct reports including the cfo and the executive chairman, on 4/09/20. This process was documented.”

Form 990, Part VI, Section C, Line 19

“Members of the public or interested parties may request to review or recieve a copy of the governing documents, conflict of interest policy, and financial statements by phone or mail.”

Filing and Contact Details

Filer

Filer Name
The Alfred E Mann Foundation for
EIN
95-4002032
Phone
6617026700
Address
25134 RYE CANYON LOOP, SANTA CLARITA, CA 91355

Signing Officer

Name
John Petrovich
Title
CEO
Phone
6617026700
Signed
2020-07-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Petrovich
Formed
1985
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
5
Employees
37
Volunteers
0

Preparer

Firm
Moss Adams Llp
Address
10960 WILSHIRE BLVD SUITE 1100, LOS ANGELES, CA 90024
Preparer
Wendy Campos
Phone
3104770450
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Dissolution of medallion -29,281,859. Dissolution of monolythix -3,143,219.”

Financial Statement Notes

PART X, LINE 2:

“The alfred e. Mann foundation for scientific research is exempt from federal income and california franchise taxes under section 501(c)(3) of the internal revenue code and the corresponding california provisions. The foundation's subsidiaries are c corporations and are subject to federal income and california franchise taxes. The alfred e. Mann foundation for scientific research had no significant unrelated business income tax during the years ended march 31, 2020 and 2019. Accordingly, no tax provision for unrelated business income has been made in the accompanying consolidated financial statements for the years ended march 31, 2020 and 2019. Medallion and monolythix are for-profit entities. Income taxes for these entities are provided for under the liability method, and as such, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between the consolidated financial statement carrying amounts and the tax basis of existing assets and liabilities. A valuation allowance reduces deferred income tax assets when it is more-likely-than-not that some portion or all of the deferred income tax assets will not be realized. The temporary differences consisted primarily of net operating loss carry forwards, which expire on various dates through 2026. At march 31, 2019, medallion and monolythix, subsidiaries of the foundation, had no deferred tax assets. During the year ended march 31, 2020, the subsidiaries of the foundation dissolved. The foundation, under the provisions of asc 740, income taxes, had no uncertain tax positions requiring accrual as of march 31, 2020 and 2019.”

Raw XML AppendixShowing 400 of 930 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/PersonNm0MARK CHAMBERLAIN
IRS990/Form990PartVIISectionAGrp/PersonNm1JOHN PETROVICH
IRS990/Form990PartVIISectionAGrp/PersonNm2FARAH BOROOMAND
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVID HANKIN THRU 73117
IRS990/Form990PartVIISectionAGrp/PersonNm4ROBERT GREENBERG
IRS990/Form990PartVIISectionAGrp/PersonNm5MICHAEL PERRIN
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN DEARDEN
IRS990/Form990PartVIISectionAGrp/PersonNm7JOSEPH CALDERON
IRS990/Form990PartVIISectionAGrp/PersonNm8GLEN GRIFFITH THRU 12717
IRS990/Form990PartVIISectionAGrp/PersonNm9SIEGMAR SCHMIDT THRU 12717
IRS990/Form990PartVIISectionAGrp/PersonNm10VALMA KLEIN
IRS990/Form990PartVIISectionAGrp/PersonNm11PHILIP LEE
IRS990/Form990PartVIISectionAGrp/PersonNm12SAM BOWMAN
IRS990/Form990PartVIISectionAGrp/PersonNm13KAREN MORRIS
IRS990/Form990PartVIISectionAGrp/PersonNm14XIAODONG YANG
IRS990/Form990PartVIISectionAGrp/PersonNm15HARSHIT SURI
IRS990/Form990PartVIISectionAGrp/PersonNm16MARI DANIHEL
IRS990/Form990PartVIISectionAGrp/PersonNm17KEN WEATHERWAX
IRS990/Form990PartVIISectionAGrp/PersonNm18RICHARD WAUGH
IRS990/Form990PartVIISectionAGrp/PersonNm19DAVID GILL STARTED 3302020
IRS990/Form990PartVIISectionAGrp/PersonNm20DAVID LONG STARTED 3302020
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt3FORMER CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIRMAN OF THE BOARD/ EXECUTIVE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5VP QUAL. ASSUR., REGULATORY, OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR, ELECTRICAL ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR, MECHANICAL ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt8FORMER TECHNICAL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9FORMER EMERGING TECH. GRP. MGR.
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR, CLINICAL RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt11ASSISTANT GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt12PRINCIPAL ENGINEER ELECTRICAL
IRS990/Form990PartVIISectionAGrp/TitleTxt13SR. DIRECTOR, HR & FACILITIES MGMT.
IRS990/Form990PartVIISectionAGrp/TitleTxt14SYSTEMS VALIDATION GROUP MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRINCIPAL DESIGN ENGINEER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
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IRS990/MissionDesc0THE ALFRED E. MANN FOUNDATION FOR SCIENTIFIC RESEARCH IS A MEDICAL RESEARCH ORGANIZATION DEDICATED TO DEVELOPING AND COMMERCIALIZING INNOVATIVE SOLUTIONS FOR SIGNIFICANT UNMET MEDICAL CONDITIONS.
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IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1EDUCATION & MORALE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt015276
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14188
IRS990/OtherExpensesGrp/ProgramServicesAmt070320
IRS990/OtherExpensesGrp/ProgramServicesAmt115462
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IRS990/PrincipalOfficerNm0JOHN PETROVICH
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IRS990/ProgramServiceRevenueGrp/Desc2RESEARCH GRANT INCOME
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1306131
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2254998
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1306131
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2254998
IRS990/ProgSrvcAccomActy2Grp/Desc0SLEEP APNEA AMF IS INVESTIGATING THE NEED FOR NEWER METHODS TO TREAT OSA (OBSTRUCTIVE SLEEP APNEA). OSA IS AN UNDER-DIAGNOSED AND UNDER-TREATED MEDICAL CONDITION THAT HAS BEEN LINKED TO SEVERAL SERIOUS CO-MORBIDITIES, INCLUDING HEART DISEASE. CURRENT TREATMENT OPTIONS ARE POORLY TOLERATED AND WHEN ADOPTED, HAVE LOW COMPLIANCE RATES. THE AIM OF THE AMF PROGRAM IS TO DEVELOP A NEUROSTIMULATION SYSTEM THAT WILL IMPROVE MEDICAL OUTCOMES AT A LOWER COST THAN CURRENTLY AVAILABLE TREATMENT OPTIONS, WHILE SOLVING THE PATIENT COMPLIANCE ISSUE. SUCH A PRODUCT SYSTEM WILL CONSIST OF A FULLY IMPLANTABLE NEURAL STIMULATOR SENSOR, CLOSED LOOP SYSTEM WITH SEAMLESS OPERATION REQUIRING MINIMAL INTERACTION FROM A PATIENT, THEREBY OFFERING A HIGHER LEVEL OF PATIENT SATISFACTION AND ADOPTION.STATUS:A NEW MECHANICAL DESIGN WAS DEVELOPED AND BUILT INTO DEMO UNITS; PROTOTYPE ELECTRONICS CIRCUITY FOR DEMONSTRATION PURPOSES HAS BEEN DEVELOPED AND BUILT INTO FORM FACTOR UNITS; DEMONSTRATION SOFTWARE WAS DEVELOPED TO DISPLAY RESPIRATION DATA ON A TABLET COMPUTER; ADDITIONAL DISCUSSIONS HELD WITH POTENTIAL COMMERCIAL PARTNERS IN AN EFFORT TO OBTAIN FUNDING
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01504687
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0NEW PROJECT DEVELOPMENT AND PROTECTIONTHIS PROGRAM COVERS (A) THE MONITORING AND EVALUATION OF SEVERAL EARLY STAGE ADVANCED RESEARCH AND DEVELOPMENT EFFORTS UNDERWAY THAT ARE DIRECTED AT DEVELOPING ADVANCED TECHNOLOGIES, PROJECT IDEAS AND CONCEPTS BEFORE THEY ARE ELEVATED TO THE STATUS OF FULL-FLEDGED DEVELOPMENT PROGRAMS, AND (B) ONGOING EFFORTS RELATED TO THE ADVANCEMENT OF COMMERCIAL DEVELOPMENT AND PROTECTION OF INTELLECTUAL PROPERTY OF THESE PROJECTS FROM THE TIME THEY ARE ELEVATED TO DEVELOPMENT PROGRAMS AND CONTINUING SOMETIMES UNTIL LONG AFTER THESE PROJECTS HAVE BEEN LAUNCHED INTO SPINOUT COMPANIES OR LICENSED TO COMMERCIAL ENTITIES. THE TEAM COMPRISES THE FULL RANGE OF EXPERTISE AVAILABLE AT AMF, INCLUDING SENIOR EXECUTIVE MANAGEMENT, RESEARCH SCIENTISTS AND ENGINEERS, LEGAL AND INTELLECTUAL PROPERTY EXPERTS, BUSINESS STRATEGISTS AND ANALYSTS. EXPENSES MAY INCLUDE ONGOING PARTICIPATION IN THE DEVELOPMENT EFFORT INCLUDING RESEARCH AND DEVELOPMENT SUPPORT, COLLABORATION MANAGEMENT, SERVICE IN MANAGEMENT OR ON THE BOARD OF DIRECTORS OF SPINOUT ENTITIES, PATENT PROSECUTION AND THE PROSECUTION OF INFRINGEMENT ACTIONS TO PROTECT THE VALUE OF THE INTELLECTUAL PROPERTY WE CREATE. IN ADDITION TO PAYROLL EXPENSES AND DIRECT EXPENSES PAID TO OUTSIDE VENDORS FOR GOODS AND SERVICES RELATED TO PROJECTS, EXPENSES IN THIS PROGRAM MAY INCLUDE PATENT PROSECUTION EXPENSES AND FEES, LEGAL FEES (FOR INTERNAL AND OUTSIDE LEGAL COUNSEL) FOR LITIGATION EXPENSES TO CREATE, PRESERVE AND PROTECT INTELLECTUAL PROPERTY FROM INFRINGEMENT AND REMEDY PAST INFRINGEMENT, AND INCENTIVE AND OTHER COMPENSATION PAYMENTS TO EMPLOYEES AND OTHERS RELATED TO THESE PROGRAMS AND ACTIONS. DEPENDING ON FACTS AND CIRCUMSTANCES, IN SOME CASES CERTAIN OF THESE EXPENDITURES MIGHT BE INCURRED LONG AFTER THE PROJECTS HAVE BEEN LAUNCHED INTO SPINOUT COMPANIES OR LICENSED TO THIRD PARTIES.REVENUES ASSOCIATED WITH THESE PROJECTS (SOME OF WHICH MAY ACCRUE LONG AFTER THE PROJECT AND ANY RELATED PROGRAM HAVE BEEN OUT-LICENSED OR LAUNCHED INTO A SPINOUT COMPANY) MAY INCLUDE RECOVERIES OF JUDGMENTS OR SETTLEMENTS FROM PATENT INFRINGEMENT LITIGATION, ROYALTIES ON NET SALES OF LICENSED PRODUCTS, MILESTONE PAYMENTS, ONGOING CONTRACT R&D FROM PARTNERS, LICENSEES AND SPINOUT COMPANIES, INTEREST, AND PROCEEDS OF LIQUIDITY EVENTS (E.G., INITIAL PUBLIC OFFERINGS, ACQUISITIONS) INVOLVING RETAINED EQUITY INTERESTS IN PROJECTS THAT HAVE BEEN SPUN OUT INTO STARTUP COMPANIES. STATUS:MAJOR EFFORTS WERE MADE IN THIS AREA RESULTING IN A NUMBER OF NEW POTENTIAL PROJECTS; OVER 40 POTENTIAL INDICATIONS WERE REVIEWED TO FOCUS IN ON A SMALL NUMBER OF KEY AREAS WITH DEVELOPMENT POTENTIAL; FURTHER ANALYSIS WAS PERFORMED ON THIS SUBSET AND PRIORITIES WERE SET FOR EACH OF THE FINALISTS; INCENTIVE COMPENSATION PAYMENTS WERE ISSUED TO PARTICIPANTS IN A LONG-TERM INCENTIVE PLAN RELATED TO A LIQUIDITY EVENT ASSOCIATED WITH A PROJECT LAUNCHED IN 2013; LEGAL EXPENSES CONTINUED TO BE ACCRUED IN CONNECTION WITH ONGOING PATENT INFRINGEMENT LITIGATION RELATING TO COCHLEAR IMPLANT INTELLECTUAL PROPERTY OWNED BY AMF
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt07404150
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01855266
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ORION TMTHE FOUNDATION IS SUPPORTING THE DEVELOPMENT OF A NEW GROUNDBREAKING VISUAL CORTICAL PROSTHESIS THAT WILL ENABLE THE PARTIAL RESTORATION OF VISION TO HUNDREDS OF THOUSANDS OF PATIENTS IN THE US SUFFERING FROM DISORDERS SUCH AS DIABETIC RETINOPATHY, GLAUCOMA, OR TRAUMA TO THE EYES OR OPTIC NERVE. IT IS A FULLY-IMPLANTABLE, NEURAL-INTERFACE SYSTEM CAPABLE OF ELECTRICALLY STIMULATING THE HUMAN VISUAL CORTEX AND RESTORING VISUAL PERCEPTION TO PROFOUNDLY BLIND PATIENTS WHO TODAY HAVE NO OTHER TREATMENT OPTIONS. THIS HIGH-DENSITY CORTICAL STIMULATION PROSTHESIS, CALLED THE ORION TM, HAS AN ARRAY SPECIFICALLY DESIGNED FOR THE VISUAL CORTEX. THE GOAL OF THIS PROJECT IS TO FINALIZE THE DESIGN OF THE CORTICAL PROSTHESIS THROUGH AN IDE EARLY FEASIBILITY HUMAN CLINICAL TRIAL. STATUS:INITIAL CLINICAL TRIAL RESULTS IN THE FIRST PATIENTS ARE VERY POSITIVE; THE FOUNDATION HAS BEEN KEY IN THE PROGRAM MANAGEMENT BY PROVIDING ONE OF THE PRINCIPLE INVESTIGATORS; IN ADDITION, THE FOUNDATION HAS BEEN SUPPORTING VARIOUS MECHANICAL AND ELECTRICAL ENGINEERING ACTIVITIES; FOUNDATION MAY INCREASE SUPPORT LEVEL FOR THE PROGRAM
IRS990/ProgSrvcAccomActyOtherGrp/Desc1IMPLANTABLE DRUG PUMPTHE IMPLANTABLE DRUG PUMP (IDP) PROGRAM WAS ONCE AN INTERNAL AMF PROGRAM THAT WAS SPUN OUT INTO A FOR-PROFIT SUBSIDIARY, MEDALLION THERAPEUTICS, INC. THAT FOR PROFIT EFFORT WAS NOT SUCCESSFUL, LEADING AMF TO CEASE OPERATIONS OF THIS SUBSIDIARY, WIND DOWN THE BUSINESS, AND BRING BACK INTO AMF ALL INTELLECTUAL PROPERTY AND OTHER ASSETS RELATING TO THE IDP, ALL OF WHICH OCCURRED IN LATE 2019. SINCE THAT TIME, AMF HAS CONTINUED TO SEARCH FOR SUITABLE PARTNERS TO DEVELOP THE IDP FURTHER IN CERTAIN FIELDS OF USE REQUIRING DRUG DELIVERY FOR CHRONIC CONDITIONS. THE IDP IS A SOPHISTICATED, HIGHLY PROGRAMMABLE DRUG INFUSION DEVICE THAT IS IMPLANTED IN THE ABDOMEN AND REFILLED VIA A HYPODERMIC NEEDLE THROUGH THE SKIN. INFUSION RATES AND SCHEDULES MAY BE PROGRAMMED, AND VIA VARIOUS FORMS OF CATHETERS, DRUGS CAN BE DELIVERED INTRATHECALLY TO THE SPINAL COLUMN, INTO THE ABDOMEN, INTO THE BRAIN, OR INTRAVENOUSLY. STATUS: SEVERAL DISCUSSIONS HAVE BEEN INITIATED DIRECTED TOWARDS LICENSING AND COMMERCIALIZING THE IDP IN SEVERAL FIELDS OF USE; AMF HAS EXPLORED AND APPLIED FOR MULTIPLE GRANTS TO FURTHER THE DEVELOPMENT OF THE IDP IN THE FIELD OF PAIN; DESIGN UPDATES AND UPGRADES HAVE BEEN CONSIDERED
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt1151988
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IRS990/PYTotalExpensesAmt08041139
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IRS990/PYTotalRevenueAmt0334706
IRS990/QuidProQuoContributionsInd00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,071,014
Liabilities
$11,490,776
Net assets
$47,580,238
Revenue
$2,312,474
Expenses
$13,859,108
Net income
-$11,546,634
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$353$6.39$347$18.1$41.8$23.6
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$373$6.67$366$44.1$31.8$12.3
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$345$6.00$339$31.1$22.8$8.23
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$374$2.65$372$129$18.1$110
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$307$2.73$305$226$22.4$204
2020Detailed filing. Detailed filing data is available for this year.$59.1$11.5$47.6$2.31$13.9$11.5
2019Summary only. Only limited summary data is available for this year.$93.5$7.10$86.4$0.33$8.04$7.71
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.0$0.66$49.4$0.43$13.1$12.6
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$63.5$1.65$61.9$0.99$15.3$14.4
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$82.1$8.16$74.0$4.54$17.3$12.7
2015Detailed filing. Detailed filing data is available for this year.$109$15.2$93.4$7.59$17.9$10.3
2014Detailed filing. Detailed filing data is available for this year.$115$11.2$104$19.6$24.2$4.56
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$122$15.4$106$22.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$14.9$112$24.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$149$15.5$134$22.0