Overview
What is Institute For Life Sciences Collaboration Inc?
Institute for Life Sciences Collaboration Inc is a nonprofit organization situated in Madison, Connecticut. Their primary focus is on contracting the research and development of affordable, non-invasive medical testing equipment to enhance overall health in developing countries. The organization aims to engage the public, scientific, academic, and medical/healthcare communities in proactive strategies to address unmet needs in expertise, infrastructure, and application. By involving leading academic, scientific, and medical institutions, they aim to identify, advance, and accelerate promising opportunities in life sciences discovery, development, and application.
Official website here: www.ilscollaboration.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Star rating)
The Institute For Life Sciences Collaboration Inc has received a Two-Star rating from Charity Navigator, indicating moderate performance in terms of accountability and finance. The overall score of 68% reflects the organization’s strengths and weaknesses, with a significant emphasis placed on its accountability measures. The organization has performed well in several areas, including maintaining an independent board and demonstrating no material diversion of assets, both of which received perfect scores.
However, there are notable limitations that have impacted the overall rating. The absence of a whistleblower policy and a document retention and destruction policy, both of which received zero points, raises concerns about transparency and governance. Additionally, the organization’s liabilities to assets ratio is alarmingly high, resulting in a score of zero in that category, which could indicate financial risks that may need to be addressed.
On a positive note, the organization allocates a substantial portion of its resources to programs, with a program expense ratio of 70.68%. This suggests a commitment to its mission despite the financial and governance challenges reflected in the rating. Overall, while the Institute For Life Sciences Collaboration Inc exhibits some commendable practices, addressing its governance weaknesses and financial health will be essential for improving its standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Institute For Life Sciences Collaboration Inc legitimate?
Institute For Life Sciences Collaboration Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute For Life Sciences Collaboration 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ilscollaboration.org
What is the mission statement of Institute For Life Sciences Collaboration Inc?
The Institute for Life Sciences Collaboration Inc is committed to educating and engaging the public, scientific, academic, and medical/healthcare communities in proactive strategies to address unmet needs in expertise, infrastructure, and application. Their mission is to empower researchers and practitioners from leading academic, scientific, and medical/healthcare institutions to identify, advance, and accelerate promising opportunities for life sciences discovery, development, and application. They aim to facilitate collaboration and knowledge sharing among these communities, ultimately driving progress in life sciences research.
Official website here: www.ilscollaboration.org
Who is the CEO of Institute For Life Sciences Collaboration Inc?
Richard C Flath is the Coo of Institute For Life Sciences Collaboration Inc.
Official website here: www.ilscollaboration.org
What is the revenue of Institute For Life Sciences Collaboration Inc?
Institute For Life Sciences Collaboration Inc's revenue in 2022 was $50,000.
Official website here: www.ilscollaboration.org
Who are the executives of Institute For Life Sciences Collaboration Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ilscollaboration.org
Where can I find the form 990 for Institute For Life Sciences Collaboration Inc?
Institute For Life Sciences Collaboration Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ilscollaboration.org
Learn more at the official website: www.ilscollaboration.org
Mission Statement of Institute For Life Sciences Collaboration Inc
The Institute for Life Sciences Collaboration Inc is dedicated to an essential mission: to enlighten and engage various communities, including the public, scientific, academic, and medical/healthcare sectors, in proactive strategies aimed at addressing unmet needs in the realm of life sciences expertise, infrastructure, and application. This renowned organization strives to facilitate collaboration between researchers and practitioners from prestigious academic, scientific, and medical/healthcare institutions. By doing so, they aim to identify, advance, and accelerate promising opportunities for life sciences discovery, development, and application. The Institute for Life Sciences Collaboration Inc serves as a bridge, fostering connections and knowledge sharing to propel life sciences research and innovation forward.
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Impact
August, 2024
The Institute For Life Sciences Collaboration Inc's impact lies in its proactive approach to addressing unmet needs in expertise, infrastructure, and application within the field of life sciences. By informing, educating, and involving the public and various scientific, academic, and medical communities, the organization works towards improving overall population health, particularly in developing countries. Through its research and development of low-cost, non-invasive medical testing equipment, the Institute aims to enable researchers and practitioners from leading institutions to identify, advance, and accelerate promising opportunities for life sciences discovery, development, and application. This innovative work ultimately contributes to advancing healthcare outcomes and promoting a more inclusive approach to healthcare solutions.
This information is meant to be a general summary of Institute For Life Sciences Collaboration 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.
- Gross Receipts: $50,000
Assets and Liabilities:
- Total Assets: $8,301
- Total Liabilities: $698
- Net Assets: $7,603
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Organization Details
Founding Year
2012
Phone
(203) 605-9503Principal Officer
Richard C Flath
Main Address
PO BOX 1249, MADISON, CT, 06443
Website
www.ilscollaboration.orgNTEE Category
Code: B99 - Education
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