Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2014
Open to Public Inspection
For calendar year 2014, or tax year beginning 2014, and ending , 20
Name of foundation
INTERNATIONAL MEDICA FOUNDATION
 

Number and street (or P.O. box number if mail is not delivered to street address)421 1ST AVE SW SUITE 304   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ROCHESTER, MN55903
A Employer identification number

26-1556795
B Telephone number (see instructions)

(507) 206-4380
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$1,013,673J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach
schedule)..............  
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 57 57  
4 Dividends and interest from securities......      
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 1,405,419 1,405,419 0
12 Total. Add lines 1 through 11........ 1,405,476 1,405,476 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 475,641 95,128 0 380,513
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 22,606 0 0 22,606
b Accounting fees (attach schedule)....... Click to see attachment 2,500 500 0 2,000
c Other professional fees (attach schedule).... Click to see attachment 1,293 259 0 1,034
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 26,392 5,278 0 21,114
19 Depreciation (attach schedule) and depletion... Click to see attachment 295 295 0
20 Occupancy.............. 8,104 131 0 7,973
21 Travel, conferences, and meetings....... 5,529 0 0 5,529
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 99,268 8,112 0 91,156
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 641,628 109,703 0 531,925
25 Contributions, gifts, grants paid........ 0 0
26 Total expenses and disbursements. Add lines 24 and 25 641,628 109,703 0 531,925
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 763,848
b Net investment income (if negative, enter -0-) 1,295,773
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 287 1,976 1,976
2 Savings and temporary cash investments.......... 249,095 1,011,549 1,011,549
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet3,116
Less: accumulated depreciation (attach schedule) bullet2,968 443 Click to see attachment148 148
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 249,825 1,013,673 1,013,673
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons 500,000 500,000
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).......... 500,000 500,000
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted................... -250,175 513,673
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)...... -250,175 513,673
31 Total liabilities and net assets/fund balances (see instructions).. 249,825 1,013,673
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 -250,175
2 Enter amount from Part I, line 27a..................... 2 763,848
3 Other increases not included in line 2 (itemize) bullet 3 0
4 Add lines 1, 2, and 3.......................... 4 513,673
5 Decreases not included in line 2 (itemize) bullet 5 0
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 513,673
Form 990-PF (2014)
Form 990-PF (2014)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 . . . . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2013 127,766 293,097 0.435917
2012 409,968 426,901 0.960335
2011      
2010      
2009      
2 Total of line 1, column (d) ...................... 2 1.396252
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.698126
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 622,128
5 Multiply line 4 by line 3....................... 5 434,324
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 12,958
7 Add lines 5 and 6......................... 7 447,282
8 Enter qualifying distributions from Part XII, line 4.............. 8 531,925
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions.
Form 990-PF (2014)
Form 990-PF (2014)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 12,958
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 12,958
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 12,958
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 6,000
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 20,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 26,000
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 121
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 12,921
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet2,500 RefundedBullet 11 10,421
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMN
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
    Yes
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.INTL-MEDICA.ORG
    14
    The books are in care ofbulletSCOTT ROSENOW Telephone no.bullet (507) 206-4380
    Located atbullet421 1ST AVE SW SUITE 304ROCHESTERMN ZIP+4bullet55902
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2014, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2014?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?........................
    b
    If "Yes," did it have excess business holdings in 2014 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2014.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2014?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)..................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.......................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    DR LEONARD RUIZ PRESIDENT
    40.00     		230,000 0 23,315
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    SCOTT ROSENOW VP/TREASURER/SECRETARY
    40.00     		202,625 0 19,702
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    DR FRANKLIN G PRENDERGAST CHAIRMAN
    1.00     		0 0 0
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    DR STEVEN G REED DIRECTOR
    1.00     		0 0 0
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    DR RICHARD HAUGLAND DIRECTOR
    1.00     		0 0 0
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    DR ER DICKSON DIRECTOR
    1.00     		0 0 0
    421 1ST AVENUE SW STE 304
    ROCHESTER,MN55902
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 THE PRIMARY PURPOSE OF INTL-MEDICA IS THE DEVELOPMENT AND DELIVERY OF AN ORAL ROTAVIRUS VACCINE FOR THE PREVENTION OF ROTAVIRUS-RELATED MORBIDITY AND DEATHS IN THE DEVELOPING WORLD. GLOBALLY, INFECTIONS FROM ROTAVIRUS ACCOUNT FOR AN ESTIMATED 125 MILLION CASES OF DIARRHEA EACH YEAR, RESULTING IN THE DEATHS OF APPROXIMATELY 500,000 INFANTS ANNUALLY FROM A DISEASE THAT IS HIGHLY PREVENTABLE WITH AN ORAL VACCINE. WORLDWIDE, ROTAVIRUS INFECTS EVERY CHILD IN THE WORLD IN THEIR FIRST FEW YEARS OF LIFE AND SENDS 1 CHILD IN EVERY 5 TO 8 TO A CLINIC FOR TREATMENT, 1 IN EVERY 58 TO A HOSPITAL, AND 1 IN 250-300 DIE FROM DEHYDRATING DIARRHEA. ROTAVIRUS IS THE CAUSE OF 30% TO 40% OF THE HOSPITALIZATIONS FOR DIARRHEA IN CHILDREN LESS THAN FIVE YEARS OF AGE AND RESULTS IN OVER 1,600 DEATHS EACH DAY IN DEVELOPING COUNTRIES WHERE MEDICAL CARE IS LIMITED AND MALNUTRITION IS PREVALENT. SEE CONTINUATION OF DIRECT CHARITABLE ACTIVITY #1 ON "GENERAL EXPLANATION ATTACHMENT" 159,228
    2 INTERNATIONAL MEDICA HAS BEEN WORKING WITH THE NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES (NIAID) NATIONAL INSTITUTES OF HEALTH (NIH), AND IDT BIOLOGIKA GMBH, ITS VACCINE MANUFACTURER IN GERMANY, ON A NEW, PROPRIETARY, LIQUID, HEAT-STABLE FORMULATION OF ROTASHIELD.A MAJOR CONSTRAINT IN ACHIEVING HIGH IMMUNIZATION RATES IN LESS-DEVELOPED COUNTRIES IS THE REQUIREMENT FOR A COLD CHAIN -- MAINTAINING PROPER REFRIGERATION OF THE VACCINE PRODUCT TO ENSURE ITS EFFECTIVENESS. THIS NEW ROTASHIELD LIQUID FORMULATION HAS THE POTENTIAL TO ELIMINATE THE NEED FOR A COLD CHAIN, WHICH WOULD SIGNIFICANTLY REDUCE THE DISTRIBUTION AND STORAGE COSTS OF THE VACCINE. ALL OF THE CURRENTLY MARKETED ROTAVIRUS VACCINES REQUIRE REFRIGERATION. ELIMINATION OF THE NEED FOR THE COLD-CHAIN FOR VACCINES IS ALSO OF GREAT INTEREST TO THE VACCINE COMMUNITY WORLDWIDE, ESPECIALLY IN THE DEVELOPING WORLD.SEE CONTINUATION OF DIRECT CHARITABLE ACTIVITY #2 ON "GENERAL EXPLANATION ATTACHMENT" 154,879
    3 MALARIA: THIS PAST YEAR THE FOUNDATION WORKED ON A MALARIA PROJECT WITH PURDUE UNIVERSITY AND A BIOSCIENCES COMPANY (HULOW LLC) TO DEVELOP A NEW MALARIA DRUG TREATMENT. THIS USED A DRUG FOR THE TREATMENT OF MALARIA, NOT A VACCINE, AND OUR ROLE IN THE PROJECT WAS TO POSITION THE DRUG FOR A "FIRST-USE-IN-MALARIA PATIENT" CLINICAL TRIAL. THE DRUG IS CURRENTLY AN FDA APPROVED DRUG AND IS WIDELY USED GLOBALLY FOR TREATING CANCER BUT HAS NEVER BEEN TESTED FOR ITS POTENTIAL TO TREAT MALARIA.SEE CONTINUATION OF DIRECT CHARITABLE ACTIVITY #3 ON "GENERAL EXPLANATION ATTACHMENT" 127,412
    4 WHILE THE ROTASHIELD VACCINE IS THE PRIMARY FOCUS OF THE FOUNDATION, INTERNATIONAL MEDICA CONTINUES TO ENGAGE IN DISCUSSIONS WITH RESEARCHERS AT THE NATIONAL INSTITUTE OF HEALTH (NIH), IN BETHESDA, MARYLAND, THE INFECTIOUS DISEASE RESEARCH INSTITUTE (IDRI) IN SEATTLE, WASHINGTON, THE UNIVERSITY OF MINNESOTA, AND THE MAYO CLINIC IN ROCHESTER, MINNESOTA, WITH REGARD TO POTENTIAL VACCINES TO BE DEVELOPED AND OTHER POSSIBLE GLOBAL DISEASE ISSUES TO BE ADDRESSED. THE FOUNDATION IS ACTIVELY EXAMINING THE POSSIBILITIES OF LICENSING AND DEVELOPING A VACCINE FOR WEST NILE VIRUS, HAEMOPHILUS INFLUENZAE SEROTYPE A (HIA) AND CHIKUNGUNYA VIRUS (CHIKV). 100,407
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 8
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    0
    b
    Average of monthly cash balances.......................
    1b
    631,454
    c
    Fair market value of all other assets (see instructions)................
    1c
    148
    d
    Total (add lines 1a, b, and c).........................
    1d
    631,602
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    631,602
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    9,474
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    622,128
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    31,106
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
     
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
     
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    531,925
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    531,925
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    12,958
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    518,967
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7  
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2014:
    a From 2009.......  
    b From 2010.......  
    c From 2011.......  
    d From 2012.......  
    e From 2013.......  
    fTotal of lines 3a through e.........  
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$  
    a Applied to 2013, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		 
    d Applied to 2014 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2014.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2014. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2010....  
    b Excess from 2011....  
    c Excess from 2012....  
    d Excess from 2013....  
    e Excess from 2014....  
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2014, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2014 (b) 2013 (c) 2012 (d) 2011
    0 0 0 0 0
    b 85% of line 2a ......... 0 0 0 0 0
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		531,925 127,766 409,968 0 1,069,659
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		0 0 0 0 0
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		531,925 127,766 409,968 0 1,069,659
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ...... 1,013,673 249,825 346,679   1,610,177
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 178 443 1,827   2,448
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		        0
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    DR RICHARD HAUGLAND
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a 0
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 57  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property .............     		         
    7 Other investment income.....         1,405,419
    8
    Gain or (loss) from sales of assets other than inventory .............     		         
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 57 1,405,419
    13Total. Add line 12, columns (b), (d), and (e)..................
    131,405,476
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    7 RELATES TO THE DEVELOPMENT OF SAFE AND COST EFFECTIVE HEALTHCARE
    7 PRODUCTS AND ULTIMATELY FOR MAKING THOSE PRODUCTS AVAILABLE FOR
    7 FAMILIES IN NEED IN THE NEGLECTED POPULATIONS OF THE WORLD
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political
    Yes
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2014 AccountingFeesSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 2,500 500 0 2,000

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2014 DepreciationSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    SONY COMPUTER 2010-09-20 1,126 1,126 200DB 3.000000000000 0 0 0  
    LENOVO COMPUTER 2012-12-26 1,990 1,547 200DB 3.000000000000 295 0 0  

    TY 2014 GeneralExplanationAttachment
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Identifier Return Reference Explanation
      FORM 990-PF, PART IX-A, #1-SUMMARY OF DIRECT CHARITABLE ACTIVITIES CONTINUATION OF DIRECT CHARITABLE ACTIVITY #1:ROTAVIRUS VACCINE ACTIVITIES: BRIEF HISTORY: THE ROTAVIRUS VACCINE, KNOWN AS ROTASHIELD, WAS INVENTED AND INITIALLY DEVELOPED BY THE NATIONAL INSTITUTES OF HEALTH OF THE UNITED STATES ("NIH"). FROM ITS INCEPTION IN DECEMBER 2007 AND CONTINUING CURRENTLY, INTERNATIONAL MEDICA PERSONNEL HAVE BEEN WORKING EXTENSIVELY ALONGSIDE THE NIH AND A VACCINE MANUFACTURER TO COMPLETE A FINALIZED VACCINE PRODUCT ULTIMATELY FOR USE IN THE NEGLECTED POPULATIONS OF THE WORLD. VACCINE MANUFACTURED FOR CLINICAL TRIALS WAS TESTED TO ENSURE IT MET ALL POTENCY STANDARDS AND ALL REGULATORY REQUIREMENTS PRIOR TO BEING RELEASED FOR USE. INTERNATIONAL MEDICA, WORKING WITH THE NIH, ACTIVELY PARTICIPATED IN THE ONGOING DEVELOPMENT OF THE MANUFACTURING PROCESS, ENSURING THAT ANY CHANGES TO THE MANUFACTURING PROCESS MET ALL REGULATORY REQUIREMENTS. PHASE II CLINICAL TRIAL: OVERVIEW: WORKING WITH A NUMBER OF GROUPS INTERNATIONALLY, THE FOUNDATION CONDUCTED A PHASE II CLINICAL TRIAL THE PURPOSE OF WHICH WAS TO ALLOW INTERNATIONAL MEDICA TO DETERMINE IF THE ROTASHIELD VACCINE, WHEN GIVEN IN THE NEONATAL DELIVERY REGIMEN, STIMULATES THE IMMUNE RESPONSE OF INFANTS TO PROVIDE AN ADEQUATE PROTECTION AGAINST THE ROTAVIRUS. GIVING THE VACCINE TO NEONATES WOULD ALLOW MORE CHILDREN TO RECEIVE THE VACCINE, AS CHILDREN IN DEVELOPING COUNTRIES ARE MOST LIKELY TO HAVE INTERACTION WITH HEALTH CARE PROVIDERS IN THE FIRST DAYS IMMEDIATELY AFTER BIRTH. STARTING IMMUNIZATIONS AT OR NEAR BIRTH WOULD ALSO PROTECT INFANTS EARLIER IN LIFE.SPECIFICS: IN EARLY 2ND QUARTER OF 2009, MANUFACTURE OF THE FINAL ROTASHIELD VACCINE WAS COMPLETED AND READY FOR THE CLINICAL TRIAL. THIS PHASE II CLINICAL TRIAL ULTIMATELY SCREENED APPROXIMATELY 1,051 CHILDREN FOR THE TRIAL WITH MULTI-ARM END-POINTS. A TOTAL OF 949 INFANTS COMPLETED THE STUDY AND PURSUANT TO THE TRIAL DESIGN WERE FOLLOWED FOR ONE-YEAR TO MONITOR FOR ANY SAFETY ISSUES. THE LAST INFANT FOLLOW-UP VISIT WAS COMPLETED IN EARLY DECEMBER 2010. AFTER A YEAR OF FOLLOWING THE INFANTS, THERE WAS THEN A DATA LOCK ON THE CLINICAL TRIAL INFORMATION IN JUNE OF 2011 FOLLOWED BY THE FINAL CLINICAL STUDY REPORT IN DECEMBER OF 2011. NEO-NATAL DOSING: AS MENTIONED ABOVE, A KEY ASPECT OF INTL-MEDICA'S DEVELOPMENT OF ROTASHIELD WAS THE CHANGE OF DOSING FOR ROTAVIRUS VACCINES TO A NEONATAL DOSING SCHEDULE, I.E. PROVIDING THE FIRST DOSE WITHIN THE FIRST 29 DAYS OF LIFE AND A SECOND DOSE BEFORE 60 DAYS OF AGE. THE VACCINE WAS ORIGINALLY DEVELOPED WHERE THE FIRST DOSE WOULD BE ADMINISTERED TO INFANTS AT 2 MONTHS OF AGE, IN A THREE DOSE REGIMEN. TO INCREASE THE EFFECTIVENESS OF THE VACCINE WITH FEWER DOSES, AND TO INCREASE THE LIKELIHOOD OF ACCESS OF CHILDREN TO HEALTH PROFESSIONALS IN THE DEVELOPING WORLD, INTERNATIONAL MEDICA DID EXTENSIVE REVIEW INTO THE PREVIOUS DATA AND ESTABLISHED A PROTOCOL TO DETERMINE THE EFFECTIVENESS OF ROTASHIELD WHEN GIVEN IN THIS TWO-DOSE, NEONATAL DELIVERY REGIME. NEONATAL DOSING HAS BECOME A PRACTICE OF GREAT INTEREST IN THE PEDIATRIC VACCINE FIELDS SINCE A SIGNIFICANT NUMBER OF INFANTS DIE FROM VACCINE PREVENTABLE DISEASES WITHIN THE FIRST FEW MONTHS OF LIFE; AND IN THE DEVELOPING WORLD, MOST INFANTS COME IN CONTACT WITH MEDICAL/HEALTH WORKERS PRIMARILY DURING THE NEONATAL PERIOD.FURTHER, AS ALL ROTAVIRUS VACCINES HAVE AN INCREASED RISK OF VACCINE-ASSOCIATED INTUSSUSCEPTION AFTER RECEIVING THE VACCINE, PROVIDING THE VACCINE PRIOR TO THE AGE WHERE INTUSSUSCEPTION IS TO OCCUR (NEONATAL PERIOD) COULD MINIMIZE IF NOT ELIMINATE THE RISK OF INTUSSUSCEPTION. THIS COULD LEAD TO ROTASHIELD ACTUALLY BEING THE SAFEST ROTAVIRUS VACCINE ON THE MARKET.NEW RIGHTS: CONSISTENT WITH OUR NEONATAL DELIVERY STRATEGY, INTL-MEDICA, WORKING WITH THE NIH, AMENDED OUR LICENSE TO ADD THE INTELLECTUAL PROPERTY THAT THE NIH HAS DEVELOPED CONCERNING NEO-NATAL DELIVERY OF ROTASHIELD. IN ESSENCE, THE CLINICAL TRIAL CONDUCTED BY INTL-MEDICA PROVED THE PATENTED IDEAS OF THE NIH OF NEONATAL DOSING.PHASE II TRIAL CONCLUSION: INTL-MEDICA WORKING WITH KENDLE RESEARCH INC. (NOW INC RESEARCH), WENT THROUGH A DETAILED ANALYSIS OF THE VOLUMINOUS DATA GENERATED BY THIS TRIAL AND CHARACTERIZED THE DATA INTO WORKABLE FORMATS. THIS INVOLVED ANALYZING THE DATA AND PUTTING MUCH OF THE DATA INTO READABLE TABLES. THE FINAL CLINICAL STUDY REPORT WAS FINALIZED IN DECEMBER OF 2011. BASED ON A REVIEW BY EXPERTS IN THE ROTAVIRUS FIELD, THE RESULTS OF THE TRIAL ARE IMPRESSIVE. ROTASHIELD, WITH ONLY TWO DOSES APPEARS TO HAVE PRODUCED EFFICACY RESULTS APPROXIMATELY EQUIVALENT TO THREE DOSES OF A ROTAVIRUS VACCINE CURRENTLY ON THE MARKET AND PROVIDED PROTECTION SEVERAL MONTHS EARLIER IN LIFE THAN THE EXISTING VACCINE DID IN A PREVIOUS (SEPARATE) STUDY IN GHANA.CLINICAL TRIAL RESULTS/ PUBLICATION: INTL-MEDICA ASSEMBLED A TEAM OF THE WORLD'S LEADING EXPERTS IN THE FIELD OF ROTAVIRUS DISEASE AND VACCINATIONS TO WRITE A MANUSCRIPT FOR PUBLICATION OF THE RESULTS OF THE CLINICAL TRIAL IN GHANA. THIS WAS PUBLISHED IN AUGUST OF 2013 IN THE JOURNAL OF INFECTIOUS DISEASES (JID 2013;208:423-31), AND WAS TITLED: EFFICACY, IMMUNOGENICITY, AND SAFETY OF TWO DOSES OF A TETRAVALENT ROTAVIRUS VACCINE RRV-TV IN GHANA WITH THE FIRST DOSE ADMINISTERED DURING THE NEONATAL PERIOD. THIS PUBLICATION RECEIVED PRESS SUPPORT FROM THE MAYO CLINIC IN THE FORM OF A PRESS RELEASE AND VIDEO INTERVIEW WITH DR. ROBERT JACOBSON, ONE OF THE CO-AUTHORS. WHILE OUR STUDY WAS TOO SMALL TO ADDRESS THE ISSUE OF INTUSSUSCEPTION, IT DID PROVE THAT EFFICACY AGAINST ROTAVIRUS GASTROENTERITIS COULD BE ACHIEVED IN VERY YOUNG INFANTS WHICH COULD LEAD TO MINIMIZING OR ELIMINATING THE INCREASED RISK OF VACCINE ASSOCIATED INTUSSUSCEPTION.FY DECEMBER 2014-NOVEMBER 2015 UPDATE: INTL-MEDICA DID NOT HAVE THE RESOURCES TO CONDUCT THE NEXT PHASE OF DEVELOPMENT IN THE LONG PROCESS OF GETTING A VACCINE INTO THE WORLD MARKETS. THEREFORE, INTL-MEDICA SOUGHT OUT PARTNERS WITH THE RESOURCES TO CONTINUE THE DEVELOPMENT AND ULTIMATELY REACHED AN AGREEMENT WITH A COMPANY IN CHINA WHO WOULD CONTINUE THE DEVELOPMENT. NOT ONLY DOES CHINA HAVE A SIGNIFICANT ROTAVIRUS PROBLEM, BUT THIS COMPANY IS INTERESTED IN THE WORLD MARKET INCLUDING THOSE COUNTRIES UNDER GAVI (A GLOBAL VACCINE ALLIANCE PROGRAM FOR CHILDREN LIVING IN THE WORLD'S POOREST COUNTRIES). INTL-MEDICA ALSO RETAINED RIGHTS FOR THE NEGLECTED POPULATIONS OF THE WORLD, FOR THOSE AREAS NOT COVERED BY GAVI.INTL-MEDICA HAS CONTINUED TO WORK WITH AND STRONGLY SUPPORT THIS PARTNER TO ASSIST IT IN BRINGING ROTASHIELD BACK INTO THE WORLD MARKET. INTL MEDICA PERSONNEL WERE VERY ACTIVE IN THIS SUPPORT IN THE LAST YEAR INCLUDING SIGNIFICANT INVOLVEMENT WITH A SPECIAL MEETING WITH REPRESENTATIVES OF THE CHINESE REGULATORY AGENCIES RELATED TO THE REGULATORY FILINGS FOR ROTASHIELD IN CHINA. WE CONTINUE OUR SUPPORT BY HELPING DEVELOP THE REGULATORY PLAN FOR ROTASHIELD IN CHINA, AS WE WANT TO ENSURE THAT OUR PARTNER IN CHINA CAN NOT ONLY MEET THE REGULATORY REQUIREMENTS WITHIN CHINA BUT WILL ALSO BE WHO (WORLD HEALTH ORGANIZATION) PREQUALIFIED TO BE ABLE TO SELL ROTASHIELD TO OTHER COUNTRIES OUTSIDE OF CHINA.OUR PARTNER IS ALSO INTERESTED IN HAVING A "SECOND GENERATION" ROTASHIELD IN THE RESEARCH PIPELINE THAT COULD HAVE TWO ADDITIONAL VIRAL STRAINS (G8 AND G9) ADDED TO THE 4 EXISTING STRAINS (G1, G2, G3, G4) CURRENTLY IN THE VACCINE. SINCE DIFFERENT ROTAVIRUS STRAINS PREDOMINATE IN DIFFERENT PARTS OF THE WORLD AND CHANGE OVER TIME, ADDING THESE ROTAVIRUS STRAINS WOULD FURTHER ENHANCE THE VALUE OF OUR VACCINE. INTL-MEDICA HAS BEEN WORKING WITH THE NIH TO OBTAIN THESE 2 STRAINS FOR THEIR ADDITION FOR A NEW AND IMPROVED ROTAVIRUS VACCINE. EARLIER THIS YEAR, INTL-MEDICA ALSO ARRANGED AND SUPPORTED THE MOVE OF ALL OF THE ROTAVIRUS VIRUS STRAINS AND CELL LINES IN INVENTORY AT OUR GERMAN MANUFACTURER TO OUR PARTNER. THIS INVENTORY WAS USED IN OUR PREVIOUS CLINICAL TRIAL.SUMMARY: CONCLUDING THIS LARGE PHASE II CLINICAL TRIAL WAS A MAJOR ACHIEVEMENT FOR INTL-MEDICA, ESPECIALLY CONSIDERING THAT THIS WAS A MAJOR UNDERTAKING FOR A FOUNDATION CONSIDERING ITS SMALL SIZE. THE PUBLICATION CONCERNING THE RESULTS OF OUR TRIAL WAS ALSO A MAJOR MILESTONE FOR THE FOUNDATION. AND FINALLY, WORKING WITH A PARTNER IN CHINA TO CONTINUE THE ADVANCEMENT OR ROTASHIELD WILL ALLOW THE FOUNDATION TO CONTINUE ITS MISSION OF ULTIMATELY PROVIDING A SAFE AND EFFECTIVE VACCINE FOR ROTAVIRUS THAT CAN SIGNIFICANTLY DECREASE THE MORBIDITY AND MORTALITY CAUSED BY ROTAVIRUS AROUND THE WORLD, ESPECIALLY TO THE NEGLECTED POPULATIONS OF THE WORLD.
      FORM 990-PF, PART IX-A, #2-SUMMARY OF DIRECT CHARITABLE ACTIVITIES CONTINUATION OF SUMMARY OF DIRECT CHARITABLE ACTIVITY #2:A TYPICAL LIQUID ROTAVIRUS SUSPENSION WOULD GENERALLY LOSE ITS EFFECTIVENESS AFTER APPROXIMATELY ONE WEEK OF STORAGE AT 37 C (98.6 F), WHEREAS THE NEW ROTASHIELD LIQUID FORMULATION HAS SHOWN STABILITY FOR 6 MONTHS AT THIS TEMPERATURE EVEN WHEN AN ANTACID IS PRESENT.. THIS SAME PROPRIETARY TECHNOLOGY MAY BE ADAPTABLE FOR USE WITH OTHER ORAL VACCINES. THE FOUNDATION HAS BEEN ACTIVELY SEEKING INTELLECTUAL PROPERTY PROTECTION OF ITS ADVANCED FORMULATION.INTL-MEDICA EXPANDED ITS PATENT PROTECTION OF ITS NEW FORMULATION AND FILED FOR EXTENSIVE WORLD-WIDE PATENT PROTECTION OF ITS FORMULATION. WE ALSO SIGNED A LICENSE FOR OUR "ELIMINATION OF THE REFRIGERATION (COLD CHAIN) REQUIREMENTS" TECHNOLOGY WITH A COMPANY THAT IS COMPRISED OF EXPERTS IN VACCINES, INCLUDING THE DELIVERY OF VACCINES. THIS COMPANY, WITH OUR SUPPORT, IS ACTIVELY DEVELOPING THAT TECHNOLOGY PLATFORM. FY DECEMBER 2014-NOVEMBER 2015 UPDATE: INTL-MEDIA CONTINUES TO PROVIDE A STRONG LEADERSHIP ROLE IN THE FORMULATION DEVELOPMENT. ONGOING RESEARCH TO DEAL WITH COMPLEX MANUFACTURING ISSUES E.G. LYOPHILIZATION AND PRODUCING MINIMIZE PARTICLE SIZES AND MINIMIZING MOISTURE IS ONGOING. WE CONTINUE TO ACTIVELY PROSECUTE OUR PATENT PROTECTION FOR THIS TECHNOLOGY AROUND THE WORLD.
      FORM 990-PF, PART 1X-A, #3-SUMMARY OF DIRECT CHARITABLE ACTIVITIES CONTINUATION OF SUMMARY OF DIRECT CHARITABLE ACTIVITY #3:IT HAS SHOWN PROMISE IN IN VITRO TESTING AND THE RESULTS WOULD INDICATE POTENTIAL FOR EFFECTIVE TREATMENT OF MALARIA, AND VERY IMPORTANTLY, ITS MECHANISM OF ACTION MAY PRECLUDE THE DEVELOPMENT OF "DRUG RESISTANCE" AS IS OCCURRING WITH CURRENT MALARIA TREATMENTS. THIS PROJECT FIT OUR HUMANITARIAN FOCUS, AS THROUGH OUR INVOLVEMENT WE ALSO GAINED RIGHTS TO USE THIS TREATMENT IN THE NEGLECTED POPULATIONS OF THE WORLD. WE BROUGHT OUR INVOLVEMENT IN THE PROJECT TO A CLOSE AT THE END OF THE YEAR AFTER TAKING A LEADERSHIP ROLE IN ENSURING THAT THE MINISTER OF HEALTH IN VIETNAM APPROVED THE REVISED PROTOCOL AND SUPPORTING DOCUMENTS ALLOWING THE ENROLLMENT OF PATIENTS TO MOVE FORWARD. THESE SAME DOCUMENTS WE HELPED DEVELOP WERE PROVIDED TO THE IRB AT PURDUE UNIVERSITY FOR THEIR APPROVAL. INTERNATIONAL MEDICA PLAYED A KEY ROLE IN HELPING TO MOVE A TECHNOLOGY FORWARD WHICH MAY HAVE SIGNIFICANT HUMANITARIAN BENEFIT AT SOME POINT IN THE FUTURE AS WORK CONTINUES ON THIS PARTICULAR DRUG PRODUCT. INTL - MEDICA ALSO OBTAINED A RIGHT OF FIRST REFUSAL FOR HUMANITARIAN USE OF THIS TREATMENT IN THE DEVELOPING WORLD SHOULD IT BECOME SUCCESSFUL.

    TY 2014 LandEtcSchedule2
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    SONY COMPUTER 1,126 1,126 0  
    LENOVO COMPUTER 1,990 1,842 148  


    TY 2014 LegalFeesSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL SERVICES 22,606 0 0 22,606


    TY 2014 OtherExpensesSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 3,131 626 0 2,505
    OFFICE SUPPLIES AND EXPENSE 6,865 1,348 0 5,517
    INCOME TAXES 6,000 6,000 0 0
    INFORMATION TECHNOLOGY 690 138 0 552
    NATIONAL INSTITUTE OF HEALTH (NIH) FEES 82,582 0 0 82,582


    TY 2014 OtherIncomeSchedule2
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ROYALTIES 1,405,419 1,405,419 0


    TY 2014 OtherProfessionalFeesSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL PROCESSING SERVICE 1,293 259 0 1,034


    TY 2014 TaxesSchedule
    Name:
    INTERNATIONAL MEDICA FOUNDATION
    EIN: 26-1556795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 26,392 5,278 0 21,114