Designwise Medical Incorporated in Loretto, Minnesota (MN)
Table of contents:
| Designwise Medical Incorporated | |
| Employer Identification Number (EIN) | 263416367 |
| Name of Organization | Designwise Medical Incorporated |
| In Care of Name | Bradley F Slaker |
| Address | 5310 Salem Lane, Loretto, MN 55357 |
| Website | http://www.designwisemedical.org |
| Subsection | Charitable Organization |
| Ruling Date | 06/2009 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2008 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $42,937 |
| Amount of Income | $126,486 |
| Form 990 Revenue Amount | $120,299 |
| National Taxonomy of Exempt Entities (NTEE) | Medical Research: Biomedicine, Bioengineering Research |
Non-representatives - add comments:
Amount of income in 2008: $126,486 (it was $120,299 in 2013)
| This organization: | $126,486 |
| Other organizations performing similar types of work: | $159,553 |
Assets in 2008: $42,937 (it was $42,937 in 2013)
| This organization: | $42,937 |
| Other organizations performing similar types of work: | $115,474 |
Expenses in 2013: $96,431
| Designwise Medical Incorporated: | $96,431 |
| Other organizations performing similar types of work: | $167,843 |
Income to expenses ratio in 2013: 1.3
| This organization: | 1.3 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 102.3%
| Designwise Medical Incorporated: | 102.3% |
| Other organizations performing similar types of work: | 97.6% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $33,019 | $45,989 | $120,299 |
| Contributions, gifts, grants, and similar amounts received | $34,592 | $26,664 | $123,094 |
| Program service revenue including government fees and contracts | $0 | $0 | $651 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $-1,573 | $11,625 | $-3,687 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $12,362 | $12,127 | $2,500 |
| Less: direct expenses from gaming and fundraising events | $13,935 | $502 | $6,187 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $7,700 | $241 |
| Total expenses | $42,180 | $32,564 | $96,431 |
| Total net assets | $-38,577 | $-26,932 | $-3,064 |
| Excess/Deficit for the year | $-9,161 | $13,425 | $23,868 |
| Net assets or fund balances at beginning of year | $-29,416 | $-38,577 | $-26,932 |
| Other changes in net assets or fund balances | $0 | $-1,780 | $0 |
| Net assets or fund balances at end of year | $-26,932 | $-3,064 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $8,644 | $18,283 | $42,937 |
| Total liabilities | $47,221 | $45,215 | $46,001 |
| Net assets or fund balances | $-38,577 | $-26,932 | $-3,064 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public Support | $198,901 |
| Subtotal Support | $227,443 |
| Gifts, grants, contributions, and membership fees received | $227,443 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $28,542 |
| Total Support | $227,443 |
| Public Support | $227,443 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Stowers Institute For Medical Research | 1000 E 50th St, Kansas City, MO 64110-2262 | MO | 2005-08 | $154,114,494 |
| 2 | Gary And Mary West Health Institute | 10350 N Torrey Pines, La Jolla, CA 92037-1018 | CA | 2009-07 | $8,620,384 |
| 3 | Steadman Philippon Research Institute | 181 W Meadow Dr Ste 1000, Vail, CO 81657-5889 | CO | 1989-12 | $5,039,939 |
| 4 | Bioinnovation Institute In Akron | 47 N Main St, Akron, OH 44308-1925 | OH | 2009-08 | $5,005,594 |
| 5 | Hfii Corporation | One Ford Place Suite 5f, Detroit, MI 48202-3450 | MI | 2012-10 | $2,756,593 |
| 6 | Sens Foundation Inc | 110 Pioneer Way Ste J, Mountain View, CA 94041-1519 | CA | 2011-02 | $1,807,197 |
| 7 | Wisconsin Corporation For Biomedical Research | 5000 W National Ave, Milwaukee, WI 53295-0001 | WI | 2001-01 | $520,042 |
| 8 | Sierra Veterans Research And Education Foundation | 975 Kirman Ave, Reno, NV 89502-0993 | NV | 1991-06 | $464,459 |
| 9 | Designwise Medical Incorporated | 5310 Salem Lane, Loretto, MN 55357 | MN | 2009-06 | $126,486 |
| 10 | Spine & Joint Research Foundation | 26157 Jefferson, Murrieta, CA 92562-9561 | CA | 2005-10 | $95,000 |
| 11 | New Earth Biomed | 2708 Secret Falls Ct, Houston, TX 77089 | TX | 2010-04 | $91,279 |
| 12 | States United For Biomedical Research Inc | PO BOX 19469, Raleigh, NC 27619-9469 | NC | 2004-09 | $26,200 |
| 13 | Prebic Inc | 301 University Blvd Mrb 11 138, Galveston, TX 77555-0001 | TX | 2011-06 | $24,000 |
| 14 | 700 For Science Inc | 907 Rio Grande Street, Austin, TX 78701 | TX | 2013-08 | $20,894 |
| 15 | New Washington Research Foundation | 2815 Eastlake Ave E Ste 300, Seattle, WA 98102-3086 | WA | 2014-08 | $1 |
| 16 | San Diego Institute For Herbal Studies | 3911 Park Blvd Apt 501, San Diego, CA 92103-3537 | CA | 1997-04 | $1 |
| 17 | American Medchem Nonprofit Corporation | 525 E 100 S Ste 275, Salt Lake City, UT 84102 | UT | 2013-03 | $0 |
| 18 | Asian-Pacific Speech & Hearing Science Association | 6335 Nancy Ridge Dr, San Diego, CA 92121-2247 | CA | 1999-03 | $0 |
| 19 | Bio Cranial Institute Inc | 163 E Lake Brantley Dr, Longwood, FL 32779-4407 | FL | 1999-07 | $0 |
| 20 | Biomedical Research Institute Of Southern California | 4263 Oceanside Blvd Ste 106-159, Oceanside, CA 92056 | CA | 2012-03 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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