Overview
What is Neomed Research Corporation?
Neomed Research Corporation is a nonprofit organization that operates primarily for scientific purposes. The corporation is overseen by a Board of Trustees, who work to promote and support its objectives. Neomed Research Corporation is made up of two entities: Neomed Research corp and Redizone LLC. Redizone LLC plays a crucial role by offering office and lab spaces to research tenants, providing a conducive environment for scientific advancements. The company's activities and mission are guided by a schedule, although the specifics are not provided in the information.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
Neomed Research Corporation has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial health and operational effectiveness. The overall low score is based exclusively on the Accountability & Finance beacon, where the organization achieved high marks for governance practices, including a fully independent board and compliance with various policies.
Despite these strengths in board independence and governance, Neomed Research Corporation faces challenges in its financial metrics. The organization has a program expense ratio of only 29.56%, which raises questions about the proportion of resources allocated to its mission-driven activities. Additionally, a high liabilities to assets ratio of 0.36% suggests financial pressures that may hinder its capacity to fulfill its objectives effectively.
In summary, while Neomed Research Corporation demonstrates strong governance practices, its low program expense ratio and financial health raise red flags for potential donors and stakeholders. Therefore, individuals considering support should weigh these factors carefully.
This AI summary has been generated from information found on Charity Navigator.
Is Neomed Research Corporation legitimate?
Neomed Research Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neomed Research Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $71,886
For more financial information, click here
What is the mission statement of Neomed Research Corporation?
Neomed Research Corporation, guided by its Board of Trustees, is dedicated to advancing scientific pursuits. The corporation, comprising Neomed Research Corp and Redizone LLC, operates with the primary objective of promoting and aiding its goals. Redizone LLC, a part of the corporation, provides office and laboratory spaces for research tenants, contributing to the broader scientific community. While the information provided does not specify the exact nature or focus of Neomed Research Corporation's mission, it is clear that the organization is committed to scientific progress and facilitating research in some capacity.
Who is the CEO of Neomed Research Corporation?
Mary Taylor is the Vice Chair of Neomed Research Corporation.
What is the revenue of Neomed Research Corporation?
Neomed Research Corporation's revenue in 2022 was $161,660.
Who are the executives of Neomed Research Corporation and what are their salaries?
There 5 volunteers at Neomed Research Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $307,821
- Other: $44,572
- Compensation: $0
- Related: $215,507
- Other: $33,140
- Compensation: $0
- Related: $233,537
- Other: $40,860
- Compensation: $0
- Related: $296,465
- Other: $35,694
- Compensation: $0
- Related: $855,302
- Other: $37,662
Where can I find the form 990 for Neomed Research Corporation?
Neomed Research Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Neomed Research Corporation
Neomed Research Corporation, a nonprofit organization, is driven by its Board of Trustees and operates with the primary objective of promoting and supporting scientific research. This mission is achieved through the cooperation of two entities: Neomed Research Corporation and Redizone LLC. The latter provides necessary office and laboratory spaces for research tenants, further facilitating Neomed Research Corporation's scientific pursuits. In essence, Neomed Research Corporation serves as a catalyst for scientific advancement, guided by its Board of Trustees and supported by its subsidiary, Redizone LLC.
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Impact
October, 2024
Neomed Research Corporation significantly contributes to the advancement of medical research by providing vital support and infrastructure for scientific inquiry. Located in Rootstown, Ohio, the corporation fosters an environment conducive to innovation through the provision of office and laboratory spaces, particularly via its subsidiary, Redizone LLC. This strategic setup not only supports researchers from various fields but also promotes collaboration among tenants, enhancing the overall output of scientific endeavors.
Guided by a dedicated Board of Trustees, Neomed Research Corporation is committed to effectively promoting its objectives, which are centered around facilitating groundbreaking research that can lead to significant medical advancements. By concentrating on fostering a strong research community, Neomed Research Corporation plays a crucial role in the development and translation of new medical technologies, therapies, and treatments that may improve patient outcomes and address critical health challenges.
This information is meant to be a general summary of Neomed Research Corporation. 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: $20
- Program Service Revenue: $161,146
- Gross Receipts: $161,660
Assets and Liabilities:
- Total Assets: $724,521
- Total Liabilities: $23,098
- Net Assets: $701,423
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LICENSE FEE INCOME
Revenue
$95,433
ANIMAL REVENUE
Revenue
$57,983
SUPPLIES AND SERVICE R
Revenue
$4,872
REDIZONE MOBILE COMMUN
Revenue
$1,680
OTHER REVENUE
Revenue
$1,178
Organization Details
Founding Year
1999
Phone
(330) 325-6369Principal Officer
Mary Taylor
Main Address
PO BOX 95, ROOTSTOWN, OH, 44272
NTEE Category
Code: H99 - Medical research
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