Overview
What is Initiative For Medicines Access & Knowledge (I-Mak) Inc?
Initiative For Medicines Access & Knowledge (I-Mak) Inc is a nonprofit organization dedicated to establishing a fairer and more inclusive medicines system for everyone. They accomplish this through research, education, and collaborations, tackling structural disparities in the medicines system that influence who survives and who perishes, from drug creation to drug affordability. In 2021, I-Mak's public education initiative emphasized the crucial role of patents in the drug pricing debate. Furthermore, they testified in a congressional hearing on drug pricing and patent practices, resulting in substantial influence.
Official website here: www.i-mak.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97%, Four-Star out of Four Star rating.
The Initiative For Medicines Access & Knowledge (I-Mak) Inc has achieved an impressive overall score of 97%, reflecting a strong commitment to accountability and financial transparency. The charity's Four-Star rating indicates a high level of trustworthiness, as it is based entirely on their Accountability & Finance score, which highlights effective governance practices and financial health.
I-Mak demonstrates its organizational strengths through a well-composed independent board, with 75% of its members being independent and ensuring oversight without conflicts of interest. The charity excels in multiple financial metrics, including a program expense ratio of 77.09% and a fundraising efficiency ratio of just $0.04 per dollar raised, indicating their effective use of funds towards their mission.
No significant limitations were noted in the data, as I-Mak maintains robust practices around transparency with policies in place for conflict of interest, whistleblowing, and document retention. Their financial statements are audited, and there is no indication of material diversions of assets, positioning I-Mak as a trustworthy organization in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Initiative For Medicines Access & Knowledge (I-Mak) Inc legitimate?
Initiative For Medicines Access & Knowledge (I-Mak) Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Initiative For Medicines Access & Knowledge (I-Mak) Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $303,185
Professional Fundraising Fees: $0
Other Salaries and Wages: $216,049
For more financial information, click here
Official website here: www.i-mak.org
What is the mission statement of Initiative For Medicines Access & Knowledge (I-Mak) Inc?
The Initiative For Medicines Access & Knowledge (I-Mak) Inc is dedicated to establishing a fair and inclusive medicines system for all. Utilizing research, education, and collaborations, I-Mak works towards resolving structural inequalities in the medicines system, which impacts life and death, from drug development to affordability. In 2021, I-Mak's public education program highlighted the crucial role of patents in drug pricing discussions. Additionally, I-Mak testified in a hearing conducted by the House Committee on Oversight and Reform regarding drug pricing and patenting practices, leading to a notable impact.
Official website here: www.i-mak.org
Who is the CEO of Initiative For Medicines Access & Knowledge (I-Mak) Inc?
Tahir Amin is the Board Chair of Initiative For Medicines Access & Knowledge (I-Mak) Inc.
Official website here: www.i-mak.org
What is the revenue of Initiative For Medicines Access & Knowledge (I-Mak) Inc?
Initiative For Medicines Access & Knowledge (I-Mak) Inc's revenue in 2022 was $2,830,909.
Official website here: www.i-mak.org
Who are the executives of Initiative For Medicines Access & Knowledge (I-Mak) Inc and what are their salaries?
The average compensation at Initiative For Medicines Access & Knowledge (I-Mak) Inc during 2022 was $103,847. There are 5 employees and 7 volunteers at Initiative For Medicines Access & Knowledge (I-Mak) Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $134,907
- Related: $0
- Other: $10,091
- Compensation: $144,375
- Related: $0
- Other: $13,812
Official website here: www.i-mak.org
Where can I find the form 990 for Initiative For Medicines Access & Knowledge (I-Mak) Inc?
Initiative For Medicines Access & Knowledge (I-Mak) Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.i-mak.org
Learn more at the official website: www.i-mak.org
Mission Statement of Initiative For Medicines Access & Knowledge (I-Mak) Inc
Initiative For Medicines Access & Knowledge (I-Mak) Inc is committed to establishing a more equitable and just medicines system for all. This nonprofit organization accomplishes this goal through a combination of research, education, and collaborative partnerships. I-Mak recognizes that the medicines system, encompassing drug development and affordability, significantly impacts who survives and who perishes. By addressing the structural inequalities within this system, I-Mak strives to bridge the gap and ensure fair access to essential medicines for everyone.
In 2021, I-Mak's public education initiative brought attention to the critical role of patents in drug pricing discussions. By making this issue the centerpiece of their efforts, I-Mak effectively contributed to the broader conversation about medicines affordability and patenting practices. Additionally, I-Mak testified before the House Committee on Oversight and Reform, providing valuable insights and expertise on drug pricing and patenting. These contributions resulted in a significant impact, further advancing I-Mak's mission to address the structural inequities within the medicines system.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Initiative For Medicines Access & Knowledge (I-Mak) Inc. has made significant strides in advocating for a more just and equitable medicines system. Through its focused research and public education programs, I-Mak has highlighted the critical role patents play in drug pricing, bringing attention to how these practices contribute to inequities in access to essential medicines.
In 2021, I-Mak's efforts included participating in a congressional hearing on drug pricing and patenting practices, which had a substantial impact on discussions surrounding healthcare policies. By engaging with policymakers and the public, I-Mak seeks to influence the narrative on drug development and affordability, advocating for systemic changes that prioritize health equity.
I-Mak’s work not only educates stakeholders but also fosters partnerships aimed at addressing the structural inequities that determine who receives needed medications and who suffers. Through these initiatives, I-Mak contributes to a vital movement for reform in the medicines system, ultimately aiming to save lives and improve health outcomes for all.
This information is meant to be a general summary of Initiative For Medicines Access & Knowledge (I-Mak) Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $6
- Program Service Revenue: $33,811
- Gross Receipts: $2,830,909
Assets and Liabilities:
- Total Assets: $3,143,772
- Total Liabilities: $140,363
- Net Assets: $3,003,409
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$33,811
Organization Details
Founding Year
2007
Phone
(917) 455-6601Principal Officer
Tahir Amin
Main Address
16192 COASTAL HWY, LEWES, DE, 199583608
Website
www.i-mak.orgNTEE Category
Code: I83 - Crime
If you are a representative of Initiative For Medicines Access & Knowledge (I-Mak) Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.