Nonprofit · EIN 20-4325286
FOUNDATION FOR INNOVATION AND LIFE INC
Tax-exempt · BROOKLINE, MA 02445
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $523,933 | $635,866 | -$111,933 | $11,132,218 | $3,444,101 | $7,688,117 |
| December 31, 2023 | 990 | $12,113,960 | $16,006,527 | -$3,892,567 | $16,732,714 | $8,935,360 | $7,797,354 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $523,933
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $25,000
- Salaries, compensation and benefits (total)
- $25,000
- Professional fundraising fees
- $0
- Legal fees
- $64,821
- Accounting fees
- $47,990
- Program services (functional)
- $99,268
- Management and general (functional)
- $536,598
Balance sheet and other
- Total assets, start of year
- $16,732,714
- Total assets, end of year
- $11,132,218
- Total liabilities, end of year
- $3,444,101
- Net assets, end of year
- $7,688,117
- Net assets without donor restrictions
- $7,688,117
- Gross receipts
- $523,933
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2006
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ADAM GROOTHUIS | TREASURER/CLERK/CONSULTANT Trustee or director, Officer | 10 | $10,000 |
| CAMPBELL ROGERS | BOARD DIRECTOR Trustee or director | 1 | $10,000 |
| PETER MARKHAM | PRESIDENT & CEO Trustee or director, Officer | 40 | $2,500 |
| ELAZER EDELMAN | BOARD DIRECTOR Trustee or director | 1 | $2,500 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PETER MARKHAM | PRESIDENT & CEO Trustee or director, Officer | 40 | $777,464 | $211,239 |
| JOHN KEATING | VP PATHOLOGY Highest-paid employee | 40 | $351,154 | $317,722 |
| MISTY WILLIAMS-FRITZE | VP VET SVCS Highest-paid employee | 40 | $307,357 | $329,233 |
| SHANNON TIERNEY | VP MED WRITERS/HR Highest-paid employee | 40 | $259,465 | $327,222 |
| RAFFAELE MELIDONE | PATHOLOGY Highest-paid employee | 40 | $292,654 | $180,449 |
| MICHAEL NAIMARK | DIR., BUS DEV Highest-paid employee | 40 | $246,207 | $27,149 |
| CAMPBELL ROGERS | BOARD DIRECTOR Trustee or director | 1 | $7,500 | $0 |
| ADAM GROOTHUIS | TREASURER/CLERK/CONSULTANT Trustee or director, Officer | 10 | $7,500 | $0 |
| ELAZER EDELMAN | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 19 CATLIN RD, BROOKLINE, MA 02445-5748
- In care of
- % PETER MARKHAM
- Principal officer (990 for 2024)
- PETER MARKHAM, 19 CATLIN ROAD, BROOKLINE, MA 02445
- Signed the 990
- PETER MARKHAM, PRESIDENT & CEO
- Phone
- (781) 541-5555
- Website
- WWW.CBSET.COM
- Return prepared by
- CITRIN COOPERMAN ADVISORS LLC
Mission
THE FOUNDATION'S MISSION IS TO HELP OUR SPONSORS DEVELOP UNIQUE TOOLS AND NOVEL METHODS TO PROMOTE EARLY DIAGNOSIS AND DEVELOP INNOVATIVE TREATMENTS FOR COMPLEX DISEASES. THE FOUNDATION SPECIALIZES IN THE DEVELOPMENT AND APPLICATION OF NOVEL MINIMALLY INVASIVE TECHNIQUES IN THE FIELDS OF CARDIOLOGY, ENDOSCOPY, SURGERY, DRUG, AND DEVICE DELIVERY, DRUG AND DEVICE SAFETY, AND DIAGNOSTIC IMAGING.
Program accomplishments
- THE ORGANIZATION DID NOT HAVE ANY ACTIVE PROGRAMS IN 2024. PROGRAM EXPENSES INCURRED DURING THE YEAR WERE FOR THE RESIDUAL CLOSING COST RELATIVE TO THE SALE IN 2023.Expenses $99,268
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-4325286
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E05)
- Assets (IRS master file)
- $11,132,218
- Income (IRS master file)
- $523,933
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $523,933 | $635,866 | $11,132,218 | IRS |
| 990 | December 2023 | $12,113,960 | $16,006,527 | $16,732,714 | XML |
| 990 | December 2022 | $25,153,452 | $22,615,547 | $23,766,998 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-4325286).
Questions about FOUNDATION FOR INNOVATION AND LIFE INC
- What is the EIN of FOUNDATION FOR INNOVATION AND LIFE INC?
- The employer identification number (EIN) of FOUNDATION FOR INNOVATION AND LIFE INC is 20-4325286.
- Is FOUNDATION FOR INNOVATION AND LIFE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to FOUNDATION FOR INNOVATION AND LIFE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION FOR INNOVATION AND LIFE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDATION FOR INNOVATION AND LIFE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION FOR INNOVATION AND LIFE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDATION FOR INNOVATION AND LIFE INC?
- The 990 for the year ended December 31, 2024 names PETER MARKHAM.
- Who are the officers and directors of FOUNDATION FOR INNOVATION AND LIFE INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 4 received compensation from the organization, the highest $10,000 (ADAM GROOTHUIS, TREASURER/CLERK/CONSULTANT).
- How much revenue does FOUNDATION FOR INNOVATION AND LIFE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $523,933, expenses of $635,866 and total assets of $11,132,218 at year end.
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