The Medical Device Innovation Consortium
The Medical Device Innovation Consortium reported $28.2 million in revenue and $28.1 million in expenses for calendar year 2024. Of every $100 it spent, $81.50 went to program services, $18.50 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 80.5% of the total. Government grants made up 67.1%. The highest compensation it reported for one person was $914,419 (PRESIDENT & CEO). 32 people received more than $100,000 in reportable compensation. Revenue rose 272% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $28MFor context, the median across 169 covered medical research charities: $87.02 programs, $12.87 management, $0.11 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $28MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 81.5% | 83.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.5% | 12.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.1% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 80.5% | 72.7% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 67.1% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 19.4% | 5.8% |
| Highest reported compensation Part VII-A, columns D–F | $914,419 | $628,890 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.25% | 1.94% |
| People paid over $100,000 Part VII, line 2 | 32 | 18 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 0.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 22 of 22 | 93.8% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseNational evaluation system for health technology coordinating center:the national evaluation system for health technology (nest) is an initiative of mdic which serves as a catalyst in establishing functional and efficient pathways for key stakeholders to generate lower-cost, nearer real-time real-world evidence (rwe) of sufficient quality for regulatory, coverage, patient, and clinical decision-making. By solving the challenges that have slowed Medical Device Innovation, delayed the detection of safety signals, and created inefficiencies, nestcc could improve patients' timely access to safe…
Science and technology:science and technology's focus involves developing tools and methods to enhance efficiency (in terms of time and resources), quality, design, manufacturing, and a predictable pathway in data collection and evidence development. The organization's clinical science program aims to improve diagnostic testing and product development by supporting manufacturers in obtaining credible clinical evidence patient preferences and facilitating first-in-world patient access to safe and effective new technologies of significant health importance
Health economics and patient value:mdic's value-based healthcare projects are developed to improve the industry's ability to real world evidence and include patient perspectives in the development, pre-market approval, and post-market evaluation of medical devices and support a more predictable pathway in reimbursement decisions under federal healthcare programs
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $832,122 | $0 | $82,297 | $914,419 |
| CHIEF ENTERPRISE OFFICER AND PRESIDENT OF NEST Key employee, 40.00 hrs/week | $538,575 | $0 | $67,597 | $606,172 |
| CHIEF SCIENCE AND INNOVATION OFFICER Key employee, 40.00 hrs/week | $326,869 | $0 | $54,702 | $381,571 |
| SENIOR VICE PRESIDENT, NESTCC Key employee, 40.00 hrs/week | $300,081 | $0 | $52,877 | $352,958 |
| CHIEF LEGAL OFFICER Officer, 40.00 hrs/week | $283,281 | $0 | $50,538 | $333,819 |
| CHIEF FINANCIAL AND BUSINESS OFFICER Officer, 40.00 hrs/week | $290,747 | $0 | $38,102 | $328,849 |
| HEAD OF PATIENT ENGAGEMENT AND EVIDENCE Key employee, 40.00 hrs/week | $259,677 | $0 | $26,146 | $285,823 |
| VICE PRESIDENT, HUMAN CAPITAL Key employee, 40.00 hrs/week | $231,361 | $0 | $36,826 | $268,187 |
32 people received more than $100,000 in reportable compensation from The Medical Device Innovation Consortium (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b22 · 22 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 552
- Volunteers Part I, line 627
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| MINTZ LEVIN COHN FERRIS Professional & legal consulting | $331,805 |
| CEROBS CONSULTING LLC Consulting services | $293,406 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from The Medical Device Innovation Consortium's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Medical Device Innovation Consortium, you can publish a response that is linked from this page.
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Of every $100 The Medical Device Innovation Consortium spent in 2024, $81.50 went to programs. The full breakdown, from its IRS Form 990:
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All medical research charities · Largest charities in Virginia
Questions people ask
How much of The Medical Device Innovation Consortium's spending goes to programs?
In calendar year 2024, The Medical Device Innovation Consortium reported that 81.5% of its $28.1 million in expenses went to program services, 18.5% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does The Medical Device Innovation Consortium pay its top executive?
The largest total compensation The Medical Device Innovation Consortium reported for one person in calendar year 2024 was $914,419, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Medical Device Innovation Consortium get its money?
Of $28.2 million in revenue in calendar year 2024, 80.5% came from contributions and grants (including 67.1% from government grants) and 19.4% from program service revenue (Form 990, Part VIII).
Is The Medical Device Innovation Consortium a registered charity?
The IRS lists EIN 46-1465348 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202502519349301700 · read the filing
- 2023: Form 990 for calendar year 2023, object 202412779349301036 · read the filing
- 2022: Form 990 for calendar year 2022, object 202323189349306047 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233189349310803 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103089349302685 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003199349300545 · read the filing
All filings for EIN 46-1465348: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.