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Med Aditus Foundation INC

Tax-deductible

Raleigh, NC501(c)(3)Health Care EIN 84-4097890Revenue $534K in FY2024

On file with the IRSmedaditus.org317 Dalton Dr, 27615-1655 · Raleigh, NCTax-exempt since Jul 2020Publicly supported charity — 170(b)(1)(A)(vi)

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We seek to partner with sub-saharan african nations, international agencies, and private sector organizations to build a state-of-the-art pharmaceutical product development and manufacturing facility and a secure distribution network, with the end goal of improving patients' access to affordable high-quality medicines. This endeavor will be a stepping stone to building the technical capabilities and human capacity required for sustained access to locally-manufactured medicines. We also aim to forge strategic partnerships with local governments and academic institutions to develop targeted education and training programs that will facilitate the growth of a knowledgeable and talented workforce.

501(c)(3) charity; gifts are tax-deductible.
4¢ of each $1 spent went to programs.
Run by 90 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · 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
2 of 5
filings with a surplus
Average surplus $40K a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
4%
of spending
Concern: 4% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $520K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$216K
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$534K
+148% vs prior year
Spent
$223K
To programs
4%
Net assets
$201K
By yearFY2020–FY2024
Revenue
$534K
FY2024▲ +148%
Tap a bar for its year
Revenue by fiscal year
FY2020$127K
FY2021$210K
FY2022$111K
FY2023$216K
FY2024$534K
Expenses
$223K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$126K
FY2021$235K
FY2022$184K
FY2023$229K
FY2024$223K
Net assets
$201K
FY2024▲ +283%
Tap a bar for its year
Net assets by fiscal year
FY2020$916
FY2021−$24K
FY2022−$96K
FY2023−$110K
FY2024$201K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2020.

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

Where the money goes

4 cents of each dollar spent went to programs.

Program services 4% · $8K Management & general 96% · $215K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Pape Gaye
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ngozi Bell
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Med Aditus Foundation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Builds a modern pharmaceutical facility and distribution network to improve access to affordable medicines in Africa.

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Provided by the organization

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1 program · $8K · in their own filed words · FY2024
01

Build human capacity and technical capability for creating better access to medicine in sub-saharan africa

$8Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Morgan Stanley Global Impact Funding Trust INCFY2024$520K
Total grants receivedfrom 1 funder$520K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$534K
Ln 12
Gifts and grantsLn 1h$534K
Money outPt IX
$223K
Ln 25
Programscol B$8K
Managementcol C$215K
Owns and owesPt X
$201K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$417K
LiabilitiesLn 26$216K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$534K
Total revenueLn 12$534K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Other assetsLn 15$800
Total assetsLn 16$417K
LiabilitiesLn 26$216K
Net assetsLn 32$201K
OperationsPt I, VI
EmployeesI 50
VolunteersI 690
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$31K$2K
Total assetsLn 16$66K$417K
LiabilitiesLn 26$176K$216K
Net assetsLn 32−$110K$201K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$152K$8K$143K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$7K$7K
Information technologyLn 14$2K$2K
OccupancyLn 16$14K$14K
TravelLn 17$8K$8K
InterestLn 20$271$271
Other expenses (24a–d)Ln 24$28K$28K
All other expensesLn 24e$339$339
Total functional expensesLn 25$223K$8K$215K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $534K$223K$311K$201K 990 PDF
FY2023 $216K$229K−$14K−$110K 990 PDF
FY2022 $111K$184K−$72K−$96K 990 PDF
FY2021 $210K$235K−$25K−$24K 990 PDF
FY2020 $127K$126K$916$916 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $533,895 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $215,577$533,895
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $215,577$533,895
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $229,194$223,248
I-18 Total expensesPrior year $229,194$223,248
I-19 Revenue less expensesPrior year −$13,617$310,647
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $533,895 across 3 lines filed
VIII-1f All other contributions, gifts and grants$533,895
VIII-1h Total contributions, gifts and grants$533,895
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$533,895
Part IX · Statement of functional expenses $223,248 across 9 lines filed
IX-11g Other fees for servicesPrograms $8,237 · Management $143,418$151,655
IX-12 Advertising and promotionManagement $10,633$10,633
IX-13 Office expensesManagement $7,114$7,114
IX-14 Information technologyManagement $2,400$2,400
IX-16 OccupancyManagement $14,400$14,400
IX-17 TravelManagement $8,237$8,237
IX-20 InterestManagement $271$271
IX-24 Other expenses (24a–d)Management $28,199$28,199
IX-24e All other expensesManagement $339$339
IX-25 Total functional expensesPrograms $8,237 · Management $215,011 · Fundraising $0$223,248
Part X · Balance sheet $417,054 assets, 8 lines filed
Asset lines not itemized here account for $414,572; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $31,424$1,682
X-15 Other assetsStart of year $800$800
X-16 Total assetsStart of year $65,958$417,054
X-17 Accounts payable and accrued expensesStart of year $152,674$187,776
X-25 Other liabilitiesStart of year $13,102$18,449
X-26 Total liabilitiesStart of year $175,776$216,225
X-32 Total net assets or fund balancesStart of year −$109,818$200,829
X-33 Total liabilities and net assetsStart of year $65,958$417,054
Part XI · Reconciliation of net assets $200,829 net assets at year end
XI-1 Total revenue$533,895
XI-2 Total expenses$223,248
XI-3 Revenue less expenses$310,647
XI-4 Net assets at start of year−$109,818
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$200,829

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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