Medtech Association Inc
- Assets
- $251.3k
- Revenue
- $356.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Syracuse, NY
- Founding
- 08/2005
- Data as of
- 06/2021
- EIN
- 20-1405018
Organization Overview
Medtech Association Inc is located in Syracuse, NY. The organization was established in 2005. According to its NTEE Classification (H03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Medical Research and related organizations. As of 06/2021, Medtech Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medtech Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Medtech Association Inc generated $356.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $315.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP COLLABORATIVE BILATERAL AND MULTILATERAL RELATIONSHIPS WITHIN THE NEW YORK BUSINESS COMMUNITY TO FURTHER GROWTH OF MEDICAL TECHNOLOGY COMPANIES, AS WELL AS DEVELOPERS OF ENABLING TECHNOLOGIES AND SERVICES, THROUGH AN ORGANIZED NETWORKING AND INFORMATION SHARING STRUCTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES MEMBERS WITH NETWORKING OPPORTUNITIES, EDUCATIONAL SEMINARS, AND PERIODIC UPDATES ON EVENTS THAT EFFECT THE MEDICAL TECHNOLOGY INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Winthrop Thurlow Executive Director | Officer | 60 | $136,620 |
Sarah Oliker Chairman | OfficerTrustee | 2 | $0 |
Kathi Durdon Secretary | OfficerTrustee | 2 | $0 |
Jeff Champagne Vice Chair | OfficerTrustee | 2 | $0 |
Jim Leggett Treasurer | OfficerTrustee | 2 | $0 |
Ben Burton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,200 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $136,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,318 |
| Pension plan accruals and contributions | $5,276 |
| Other employee benefits | $8,068 |
| Payroll taxes | $16,930 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $24,300 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,811 |
| Advertising and promotion | $4,257 |
| Office expenses | $3,572 |
| Information technology | $3,150 |
| Royalties | $0 |
| Occupancy | $10,200 |
| Travel | $720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,732 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,973 |
| All other expenses | $0 |
| Total functional expenses | $315,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,586 |
| Savings and temporary cash investments | $13,505 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,225 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $251,316 |
| Accounts payable and accrued expenses | $3,879 |
| Grants payable | $0 |
| Deferred revenue | $198,944 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $60,975 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $263,798 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$12,482 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Medtech Association Inc has recieved totaling $10,500.
| Awarding Organization | Amount |
|---|---|
Pharmaceutical Research And Manufacturers Of America Washington, DC PURPOSE: GENERAL CONTRIBUTION | $10,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Third Sector New England Inc Boston, MA | $110,017,543 | $70,555,519 |
American Academy Of Pain Medicine Ultrasonography Inc North Reading, MA | $0 | $1,061,921 |
Metabolomics Society Inc Newburyport, MA | $371,960 | $71,194 |
Medtech Association Inc Syracuse, NY | $251,316 | $356,371 |
Medical Image Computing And Computer Assisted Intervention Soc Princeton, NJ | $1,275,032 | $394,710 |
Korean Medical Pracitioner Assoc Of Greater New York Inc Flushing, NY | $30,010 | $0 |
Institute For Challenging Disorganization Larchmont, NY | $445,753 | $242,661 |
National Glaucoma Society Andover, MA | $18,592 | $0 |
American Physician Scientists Association Inc Westford, MA | $226,129 | $0 |
Dmm Global Foundation Cambridge, MA | $0 | $3,725 |
Institute For Podiatric Excellance And Development Inc Andover, MA | $1,356 | $0 |
Chiropractic Fellowship Of Pennsylvania Harrisburg, PA | $18,921 | $0 |