Nonprofit · EIN 82-2337450
FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER
Also known as NEMIC FOUNDATION
Tax-exempt · PROVIDENCE, RI 02903
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $724,270 | $566,690 | $157,580 | $177,931 | $14,635 | $163,296 |
| June 30, 2024 | 990 | $727,025 | $721,380 | $5,645 | $159,792 | $154,076 | $5,716 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $624,010
- of which government grants
- $388,946
- Program service revenue
- $83,768
- Investment income
- $0
- Net rental income
- $16,492
- Other revenue
- $16,492
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $97,876
- Other salaries and wages
- $122,000
- Salaries, compensation and benefits (total)
- $265,797
- Professional fundraising fees
- $0
- Occupancy
- $42,000
- Travel
- $3,387
- Program services (functional)
- $521,250
- Management and general (functional)
- $45,440
Balance sheet and other
- Total assets, start of year
- $159,792
- Total assets, end of year
- $177,931
- Total liabilities, end of year
- $14,635
- Net assets, end of year
- $163,296
- Net assets without donor restrictions
- $163,296
- Gross receipts
- $724,270
- Employees
- 4
- Volunteers
- 50
- Year formed
- 2017
- State of legal domicile
- RI
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| AIDAN PETRIE | PRESIDENT Trustee or director, Officer | 40 | $0 | $40,080 | $18,840 |
| LYDIA SCHROTER | TREASURER Trustee or director, Officer | 40 | $0 | $50,382 | $5,916 |
| TARA MAEY PETRIE | EXECUTIVE DIRECTOR Officer | 40 | $45,861 | $0 | $3,385 |
| ANN CHUMULTS | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| MIKE PEREIRA | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| HOPE HOPKINS | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| BHARAT RAMRATNAM | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| TOWNSEND GODDARP | DIRECTOR (AS OF 12/24) Trustee or director | 2 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| AIDAN PETRIE | PRESIDENT Trustee or director, Officer | 40 | $0 | $51,333 | $24,780 |
| LYDIA SCHROTER | TREASURER Trustee or director, Officer | 40 | $0 | $51,333 | $8,230 |
| ANN CHUMULTS | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| MIKE PEREIRA | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| HOPE HOPKINS | DIRECTOR Trustee or director | 2 | $0 | $0 | $0 |
| BHARAT RAMRATNAM | DIRECTOR (AS OF 6/24) Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 150 CHESTNUT ST STE C, PROVIDENCE, RI 02903-4645
- In care of
- % LYDIA SCHROTER
- Principal officer (990 for 2024)
- LYDIA SCHROTER, 150 CHESTNUT STREET, PROVIDENCE, RI 02903
- Signed the 990
- LYDIA SCHROTER, TREASURER
- Phone
- (401) 450-0733
- Website
- WWW.NEMICENTER.COM
- Return prepared by
- KAHN LITWIN RENZA & CO LTD
Mission
THE NEW ENGLAND MEDICAL INNOVATION CENTER IS A NOT-FOR-PROFIT MED TECH HUB FOUNDED BY A PARTNERSHIP BETWEEN LIFESPAN HEALTH SYSTEM, XIMEDICA, AND THE RHODE ISLAND SCHOOL OF DESIGN. WE ARE FOCUSED ON BRINGING TOGETHER INNOVATORS, ENTREPRENEURS, ORGANIZATIONS, CLINICIANS, SMES, FUNDERS, AND KNOWLEDGE BASES TO ADVANCE MEDICAL TECHNOLOGIES TO MARKET AND OVERALL BRING VALUE TO THE PATIENTS THEY SERVE WHILE INSPIRING INNOVATORS TO IMAGINE THE FUTURE OF OUR HEALTHCARE SYSTEM.
Program accomplishments
- ENTREPRENEURSHIP EDUCATION- WE PROVIDE MED TECH ENTREPRENEURSHIP EDUCATION AND MENTORING TO RI BASED START UP COMPANIES AND PEOPLE WHO ARE INTERESTED IN STARTING START UP.Expenses $230,354 · revenue $23,445
- GLOBAL BOOT CAMP- WE PROVIDE A GLOBAL BOOTCAMP PROGRAM TO KOREAN HEALTHCARE START UP COMPANIES EITHER FOR ONE WEEK TO 3 MONTH PERIOD.Expenses $63,495 · revenue $60,323
- MENTORING- WE ALSO PROVIDE CURATED MENTORING SERVICES TO MEDTECH START UP COMPANIES BASED BOTH IN RI AND FROM KOREA.Expenses $227,401
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 82-2337450
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2018
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E03)
- Assets (IRS master file)
- $177,931
- Income (IRS master file)
- $724,270
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $724,270 | $566,690 | $177,931 | XML |
| 990 | June 2024 | $727,025 | $721,380 | $159,792 | XML |
| 990 | June 2023 | $683,922 | $688,692 | $50,176 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 82-2337450).
Questions about FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER
- What is the EIN of FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER?
- The employer identification number (EIN) of FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER is 82-2337450.
- Is FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER 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 THE NEW ENGLAND MEDICAL INNOVATION CENTER due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER?
- The 990 for the year ended June 30, 2025 names LYDIA SCHROTER.
- Who are the officers and directors of FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER?
- The 990 for the year ended June 30, 2025 lists 8 people; 1 received compensation from the organization.
- How much revenue does FOUNDATION FOR THE NEW ENGLAND MEDICAL INNOVATION CENTER have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $724,270, expenses of $566,690 and total assets of $177,931 at year end.
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