Teamfund INC FY2021 filing

Tax-deductible

Reston, VA501(c)(3)Health CareEIN 47-4405261

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To provide affordable approp. Medtech for underserved/low-resource global healthcare settings.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$403K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $347K a year · 107% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$403K
to officers and key staff · 61% of spending
Concern: pay to officers and key staff is 61% of spending; over 30%.
Pt VII · Sec A
Cash reserves
33 mo
of spending, in cash
Looks good: 33.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$183K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$328K
-22% vs prior year
Spent
$657K
To programs
81%
Net assets
$11.4M
By yearFY2020–FY2024
Revenue
$328K
FY2021▼ -22%
Revenue by fiscal year
FY2020$418K
FY2021$328K
FY2022$172K
FY2023$540K
FY2024$172K
Expenses
$657K
FY2021▲ +38%
Expenses by fiscal year
FY2020$477K
FY2021$657K
FY2022$723K
FY2023$805K
FY2024$704K
Net assets
$11.4M
FY2021▲ +5%
Net assets by fiscal year
FY2020$10.8M
FY2021$11.4M
FY2022$10.1M
FY2023$9.7M
FY2024$9.1M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $531K Management & general 19% · $122K Fundraising 1% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $403K paid to officers and key staff.

Part VII, Section A · reportable compensation
Managing Partner
$292,703Pt VII · Sec A
Senior Associate
$109,972Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Yousuf Mazhar’s $284K as Managing Partner is at the 99th percentile of top reported officer pay among 1979 $100K–1M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Yousuf Mazhar$284,290$356,258$305,893$292,703$254,119
Christopher Haynes$142,020$149,001$134,170$109,972—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Teamfund INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Equips underserved global healthcare with affordable medical technology.

Provided by the organization

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1 program · $531K · in their own filed words · FY2021
01

Programmatic efforts of the charity focused on researching the pressing health needs of underserved, low resource populations, and attempting to identify affordable and appropriate medical technology solutions that might effectively address those pressing health needs.

$531Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2021
Total grants receivedfrom 1 funder$100K
Grants paid · 1 grant · $50K · 2023–2023
Pyrames INCFY2023$50,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$328K
Ln 12
Gifts and grantsLn 1h$260K
Investment incomeLn 3$68K
Money outPt IX
$657K
Ln 25
Programscol B$531K
Managementcol C$122K
Fundraisingcol D$4K
Owns and owesPt X
$11.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$11.5M
LiabilitiesLn 26$183K
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$260K
Investment incomeLn 3$68K
Total revenueLn 12$328K
Assets in detailPt X, end of year
CashLn 1$118K
SavingsLn 2$1.7M
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$9.4M
Other assetsLn 15$300K
Total assetsLn 16$11.5M
LiabilitiesLn 26$183K
Net assetsLn 32$11.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.1M$1.8M
InvestmentsLn 11–13$7.2M$9.4M
Total assetsLn 16$11.0M$11.5M
LiabilitiesLn 26$175K$183K
Net assetsLn 32$10.8M$11.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$50K$50K
Pay of current officers, directors and key staffLn 5$369K$338K$31K
Other salaries and wagesLn 7$69K$52K$17K
Other employee benefitsLn 9$14K$12K$2K
Payroll taxesLn 10$20K$18K$2K
Accounting feesLn 11c$57K$57K
Other fees for servicesLn 11g$63K$48K$11K$4K
Information technologyLn 14$7K$5K$2K
TravelLn 17$4K$4K
Conferences, conventions and meetingsLn 19$4K$4K
Total functional expensesLn 25$657K$531K$122K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $172K$704K−$532K$9.1M 990 PDF
FY2023 $540K$805K−$265K$9.7M 990 PDF
FY2022 $172K$723K−$550K$10.1M 990 PDF
FY2021 Viewing $328K$657K−$329K$11.4M 990 PDF
FY2020 $418K$477K−$59K$10.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $327,685 across 4 lines filed
VIII-1f All other contributions, gifts and grants$260,000
VIII-1h Total contributions, gifts and grants$260,000
VIII-3 Investment incomeExcluded from tax $67,685$67,685
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $67,685$327,685
Part IX · Statement of functional expenses $656,621 across 10 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $50,000$50,000
IX-5 Pay of current officers, directors and key staffPrograms $338,041 · Management $31,403$369,444
IX-7 Other salaries and wagesPrograms $52,058 · Management $17,126$69,184
IX-9 Other employee benefitsPrograms $12,078 · Management $1,502$13,580
IX-10 Payroll taxesPrograms $17,560 · Management $2,184$19,744
IX-11c Accounting feesManagement $57,118$57,118
IX-11g Other fees for servicesPrograms $48,418 · Management $10,705 · Fundraising $3,600$62,723
IX-14 Information technologyPrograms $4,877 · Management $2,082$6,959
IX-17 TravelPrograms $3,651$3,651
IX-19 Conferences, conventions and meetingsPrograms $4,218$4,218
IX-25 Total functional expensesPrograms $530,901 · Management $122,120 · Fundraising $3,600$656,621
Part X · Balance sheet $11,545,196 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $102,060$118,254
X-2 Savings and temporary cash investmentsStart of year $2,967,389$1,687,412
X-3 Pledges and grants receivableStart of year $390,000$5,000
X-9 Prepaid expenses and deferred chargesStart of year $14,254$25,379
X-11 Publicly traded securitiesStart of year $4,556,286$4,520,963
X-13 Program-related investmentsStart of year $2,692,879$4,888,188
X-15 Other assetsStart of year $300,000$300,000
X-16 Total assetsStart of year $11,022,868$11,545,196
X-17 Accounts payable and accrued expensesStart of year $175,100$182,952
X-26 Total liabilitiesStart of year $175,100$182,952
X-27 Net assets without donor restrictionsStart of year $6,311,477$8,375,953
X-28 Net assets with donor restrictionsStart of year $4,536,291$2,986,291
X-32 Total net assets or fund balancesStart of year $10,847,768$11,362,244
X-33 Total liabilities and net assetsStart of year $11,022,868$11,545,196
Part XI · Reconciliation of net assets $11,362,244 net assets at year end
XI-1 Total revenue$327,685
XI-2 Total expenses$656,621
XI-3 Revenue less expenses−$328,936
XI-4 Net assets at start of year$10,847,768
XI-5 Net unrealized gains (losses) on investments$893,416
XI-9 Other changes in net assets−$50,004
XI-10 Net assets at end of year$11,362,244

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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