Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2019.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
83 cents of each dollar spent went to programs.
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
14 people listed on the 990.
Jeffrey Armstrong’s $97K as Executive Di is at the 82nd percentile of top reported officer pay among 1613 $100K–1M education 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.
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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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Helps underrepresented medical students with money and guidance.
Questions for Elevatemed INC
Your first name shows with your question. Elevatemed INC answers here, for everyone.
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Elevatemed is a 501(c)(3) nonprofit organization committed to elevating medicine by providing scholarships, mentorship, and support to medical students from AFRICAN-AMERICAN/BLACK, latin, and native american backgrounds. Improving physician workforce diversity is a critical component in the fight against health disparities.
Scholarships and mentorship annually elevate med awards tuition-based scholarships to minimize the debt burden of medical school. Scholars are selected from partnering medical schools across the united states via a nomination process. The 2024 scholars cohort featured 20 students who each received 10,000, paid directly to the school.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $267K | $417K |
| InvestmentsLn 11–13 | $1K | $3K |
| Total assetsLn 16 | $352K | $486K |
| LiabilitiesLn 26 | $5K | $0 |
| Net assetsLn 32 | $347K | $486K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $235K | $235K | ||
| Other salaries and wagesLn 7 | $88K | $4K | $84K | |
| Pension plan contributionsLn 8 | $2K | $2K | ||
| Other employee benefitsLn 9 | $6K | $6K | ||
| Payroll taxesLn 10 | $7K | $7K | ||
| Legal feesLn 11b | $1K | $1K | ||
| Accounting feesLn 11c | $4K | $4K | ||
| Professional fundraising feesLn 11e | $5K | $5K | ||
| Other fees for servicesLn 11g | $73K | $66K | $6K | |
| Advertising and promotionLn 12 | $12K | $11K | $1K | |
| Office expensesLn 13 | $7K | $6K | $335 | |
| Information technologyLn 14 | $54K | $54K | ||
| TravelLn 17 | $42K | $41K | $662 | |
| Conferences, conventions and meetingsLn 19 | $179K | $176K | $2K | |
| Total functional expensesLn 25 | $715K | $595K | $115K | $5K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $898K | $787K | $112K | $598K | 990 PDF |
| FY2024 Viewing | $854K | $715K | $139K | $486K | 990 PDF |
| FY2023 | $689K | $979K | −$290K | $347K | 990 PDF |
| FY2022 | $513K | $397K | $116K | $638K | 990 PDF |
| FY2021 | $462K | $296K | $166K | $522K | 990 PDF |
| FY2020 | $316K | $153K | $163K | $356K | 990 PDF |
| FY2019 | $221K | $28K | $193K | $193K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $853,873 revenue, 12 lines filed
Part VI · Governance 13 of 13 board members independent, 1 to look at
Part VIII · Statement of revenue $853,873 across 6 lines filed
Part IX · Statement of functional expenses $715,347 across 14 lines filed
Part X · Balance sheet $486,187 assets, 9 lines filed
Part XI · Reconciliation of net assets $486,187 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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