Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
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Total |
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Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 5,059,748 | 5,920,914 | 8,625,983 | 8,780,039 | 9,285,880 | 37,672,564 |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf .... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | 5,059,748 | 5,920,914 | 8,625,983 | 8,780,039 | 9,285,880 | 37,672,564 |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | 33,548,509 | |||||
| 6 | Public support. Subtract line 5 from line 4. | 4,124,055 | |||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 5,059,748 | 5,920,914 | 8,625,983 | 8,780,039 | 9,285,880 | 37,672,564 |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 20,864 | 17,774 | 11,028 | 11 | 33,030 | 82,707 |
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | ||||||
| 11 | Total support. Add lines 7 through 10 | 37,755,271 | |||||
Calendar year (or fiscal
year beginning in) ![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2019 | (b) 2020 | (c) 2021 | (d) 2022 | (e) 2023 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2023 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2023 |
(iii) Distributable Amount for 2023 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2023 from Section C, line 6 | ||||
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2
Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI).
See instructions. |
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| 3 Excess distributions carryover, if any, to 2023: | ||||
| a From 2018....... | ||||
| b From 2019....... | ||||
| c From 2020....... | ||||
| d From 2021....... | ||||
| e From 2022....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2023 distributable amount | ||||
|
i
Carryover from 2018 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2023 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2023 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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6
Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2024. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2019..... | ||||
| b Excess from 2020..... | ||||
| c Excess from 2021..... | ||||
| d Excess from 2022..... | ||||
| e Excess from 2023..... | ||||
| Facts And Circumstances Test |
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| 1.THE ORGANIZATION HAS INCREASED GOVERNMENT GRANTS, AND CONTINUES TO SEEK GOVERNMENT GRANTS TO FUND THE ORGANIZATION'S PROGRAM SERVICES. THE ORGANIZATION RECEIVES A HIGH PERCENTAGE OF TOTAL SUPPORT FROM AN UNRELATED PRIVATE FOUNDATION. THE GRANTS RECEIVED FROM THIS FOUNDATION ARE CRITICAL TO THE OPERATIONS OF THE ORGANIZATION. ON A YEARLY BASIS, THE ORGANIZATION IS REQUIRED TO SUBMIT A FINANCIAL REPORTING PACKAGE INCLUDING THE NATURE AND EXTENT OF COSTS UNDER THE GRANTS RECEIVED. 2.THE ORGANIZATION PROVIDES SERVICES DIRECTLY FOR THE BENEFIT OF THE GENERAL PUBLIC ON A CONTINUOUS BASIS INCLUDING INCREASING ACCESS TO LIFE SAVING VACCINES AND CONTRACEPTIVE SERVICES AMONG VULNERABLE POPULATIONS AND AFFORDABLE HIGH-QUALITY PRIMARY HEALTHCARE IN LOW- AND MIDDLE-INCOME COUNTRIES. THE ORGANIZATION HAS INCREASED ITS PRESENCE IN MULTIPLE UNDERDEVELOPED COUNTRIES INCLUDING KENYA, BURKINA FASO, THE PHILIPPINES, INDONESIA, MOZAMBIQUE, AND ZAMBIA AND HAS BEGUN EFFORTS TO IDENTIFY ADDITIONAL NEEDS IN THESE REGIONS.3.THE ORGANIZATION IS ORGANIZED AND OPERATED TO ATTRACT NEW AND ADDITIONAL PUBLIC OR GOVERNMENTAL SUPPORT ON A CONTINUOUS BASIS. THE ORGANIZATION IS ACTIVELY SOLICITING FUNDS BY INCREASING COMMUNITY AWARENESS THROUGH ITS WEBSITE AND SOCIAL MEDIA. THE ORGANIZATION HAS ALSO INCREASED FUNDING AND INVESTED ADDITIONAL RESOURCES INTO ITS BUSINESS DEVELOPMENT DEPARTMENT TO IDENTIFY AND APPLY FOR GRANTS FROM NEW SOURCES. IN 2023, WE MADE STRATEGIC EFFORTS TO DIVERSIFY FUNDING SOURCES BY TARGETING NEW DONORS; GOVERNMENT AND PUBLIC DONORS SUCH AS WORLD HEALTH ORGANIZATION, WORLD BANK, UNITED NATIONS CHILDREN'S FUND (UNICEF), GAVI, UGAND GOVERNMENT MINISTRY OF HEALTH, THE GLOBAL FUND FOR AIDS, TB, AND MALARIA, AND US GOVERNMENT MILLENIMUM CHALLENGE CORPORATION . WE SYSTEMATIZED INFORMATION COLLECTION ON NEW BUSINESS OPPORTUNITIES, AND TRAINED PROGRAM EXPERTS IN PROPOSAL DESIGNS AND WRITING. AS OF DECEMBER 2023, WE WERE AWAITING RESULTS OF SEVEN PROPOSALS. |
| Return Reference | Explanation |
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| Software ID: | |
| Software Version: |
| Return Reference | Explanation |
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| FORM 990, PART I, LINE 1: | NOTE: THE ORGANIZATION, HEALTH SYSTEMS INSIGHT (FORMERLY THINKWELL INSTITUTE) IS REFERENCED THROUGHOUT THIS SCHEDULE O AS "THINKWELL INSTITUTE," "THINKWELL, "INSTITUTE, OR ORGANIZATION"/"FILER" AS ITS NAME CHANGE ONLY HAD REQUIRED FILINGS' DOCUMENTS RETURNED THE 2ND HALF OF JULY WHEN THIS RETURN WAS CLOSE TO BEING FILED. THINKWELL SUPPORTS LOW- AND MIDDLE-INCOME COUNTRIES AND GLOBAL PARTNERS THROUGH DEEP, COURAGEOUS THINKING TO MAKE HIGH QUALITY HEALTHCARE AFFORDABLE THROUGH BUILDING CAPACITY OF GOVERNMENT AND ACADEMIC INSTITUTIONS IN PARTNER COUNTRIES FOR ANALYSIS OF HEALTH SYSTEM DATA, EVIDENCE-BASED POLICY RECOMMENDATIONS, AND FACILITATION OF STAKEHOLDER DIALOGUES. WE ENSURE THAT HEALTH FINANCE, HUMAN, AND COMMODITY RESOURCES ARE EFFECTIVELY AND EFFICIENTLY ALLOCATED AND USED FOR HIGH QUALITY HEALTHCARE BY STRENGTHENING FINANCIAL MANAGEMENT PRACTICES, INFORMATION TECHNOLOGY, AND TRAINING. THINKWELL INSTITUTE ACTIVELY PARTNERS WITH MINISTRIES OF HEALTH OF COUNTRIES SUCH AS INDONESIA, KENYA, THE PHILIPPINES, AND BURKINA FASO. |
| FORM 990, PART III, LINE 2 | THE KENYA QUALITY ECOSYSTEM PROJECT STARTED IN JANUARY 2023 WITH FUNDING FROM MERCK FOR MOTHERS AND ELMA FOUNDATION. THINKWELL INSTITUTE HAS PARTNERED WITH JACARANDA HEALTH FOR THIS PROJECT. THINKWELL INSTITUTE SUPPORTS ENSURING AVAILABILITY AND SUSTAINABILITY OF FINANCING FOR MATERNAL AND CHILD HEALTH PROGRAMS THROUGH POLICY IMPROVEMENTS AND STRENGTHENING CAPACITY OF FINANCIAL MANAGEMENT IN FOUR COUNTIES IN KENYA. WE HAVE INITIATED PILOT TESTING OF INTERVENTIONS TO INCREASE FINANCIAL RESOURCES AND CAPACITY BUILDING OF FINANCIAL DATA CLERKS TO IMPROVE ACCURACY AND AVAILABILITY OF FINANCIAL DATA. |
| FORM 990, PART III, LINE 3 | THE STRATEGIC PURCHASING FOR PRIMARY HEALTH CARE (SP4PC) PHASE 1 PROJECT ENDED. |
| FORM 990, PART VI, SECTION A, LINE 2 | THE FILER UNDERTOOK REASONABLE EFFORTS TO FIND FAMILY OR BUSINESS RELATIONSHIPS BETWEEN PART VII-A REPORTED BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES. HOWEVER, FILER'S "OLD GUARD" DIRECTORS (YOGESH RAJKOTIA, THE OWNER AND CEO OF THINKWELL LLC, AND IVA DJUROVIC, A FORMER EMPLOYEE OF THINKWELL LLC WHO THEREAFTER BECAME A CONSULTANT TO BOTH THINKWELL LLC AND THE INSTITUTE) WHO RESIGNED IN LATE JANUARY 2023, FAILED (AS THEY HAD WITH RESPECT TO THE 2022 RETURN) TO PROVIDE RESPONSES TO FILER'S QUESTIONNAIRE. ACCORDINGLY, FILER IS UNABLE TO FURTHER DETAIL THEIR FAMILY RELATIONSHIPS OR BUSINESS RELATIONSHIPS ASIDE FROM NOTING THAT YOGESH RAJKOTIA WAS THE EMPLOYER, VIA THINKWELL LLC, OF ALL INDIVIDUALS NOTED IN PART VII-A (EXCEPT FOR LAURA BOONSTOPPEL AND ILEANA DIACONESCU) THROUGHOUT THE FILING YEAR. (DJUROVIC IN PRIOR YEARS HAD A BUSINESS RELATIONSHIP WITH RAJKOTIA FIRST AS AN EMPLOYEE OF, AND IN 2022 AS A CONTRACTOR TO, THINKWELL LLC. WE ARE AWARE THAT HER CONTRACTOR AGREEMENT WITH THE LLC ENDED IN JANUARY 2023 SO THAT INDEED THEY DID HAVE A BUSINESS RELATIONSHIP IN THE 2023 YEAR. |
| FORM 990, PART VI, SECTION A, LINE 3 | FILER CONTINUED IN THE FILING YEAR, AS IT HAD IN PRIOR TAX YEARS, TO PURCHASE MANAGEMENT SERVICES FROM THINKWELL LLC (A RELATED ORGANIZATION THROUGH JULY 11, 2023) BY WHICH IT ACCESSED VIRTUALLY ALL OF ITS STAFF, AS WELL AS VARIOUS OPERATIONAL SYSTEMS AND OTHER SERVICES NECESSARY TO MANAGE THE FILER'S ACTIVITIES AND OPERATIONS, FROM THE LLC. PART VII-A REPORTS INDIVIDUALS WHO WERE THUS ON THINKWELL LLC'S PAYROLL WHILE CONCOMITANTLY SERVING THINKWELL INSTITUTE. FOR EACH SUCH INDIVIDUAL, IN ACCORD WITH THE PART VII-A AND SCHEDULE J INSTRUCTIONS, DISCLOSURE IS MADE OF THE NUMBER OF HOURS OF SERVICES EACH INDIVIDUAL PROVIDED TO THE INSTITUTE AND TO THE LLC, AND THE COMPENSATION THEY WERE PAID FOR SUCH SERVICES AS FOLLOWS: COLUMN D REPORTS COMPENSATION PROVIDED BY THINKWELL LLC FOR THE INDIVIDUAL'S SERVICES TO THE INSTITUTE, IN THE CASE OF INDIVIDUALS WHO WERE NOT ON THE INSTITUTE'S PAYROLL (SIGNIFIED BY -0- IN COL. E), AS THOUGH PAID DIRECTLY BY FILER, FOR THE PERIOD OF THE YEAR IN WHICH THINKWELL LLC WAS AN UNRELATED ORGANIZATION (JULY 12-DECEMBER 31). COLUMN E REPORTS THE ENTIRETY OF COMPENSATION THE INDIVIDUAL RECEIVED FROM THE LLC FOR SERVICES TO BOTH ENTITIES FOR THE PERIOD OF THE YEAR IN WHICH THE LLC WAS A RELATED ORGANIZATION (JANUARY 1 JULY 11). THE PORTION OF SUCH COMPENSATION ATTRIBUTABLE TO SERVICES THE INDIVIDUAL PROVIDED TO THE INSTITUTE IS NOT SEPARATELY SHOWN BUT CAN BE DETERMINED BY MULTIPLYING THE AMOUNT OF COMPENSATION BY THE PERCENTAGE "NUMBER OF HOURS PER WEEK SHOWN IN COL. B'S TOP ROW OVER 40 HOURS". COLUMN F REPORTS NONTAXABLE BENEFITS FOLLOWING THE PRIOR COLUMNS' REPORTING METHODS. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE ORGANIZATION'S GOVERNING DOCUMENTS WERE AMENDED TO REFLECT A NAME CHANGE. THE ARTICLES OF AMENDMENT EFFECTUATING THE NAME CHANGE WERE FILED ON 7/11/2025 AND ARE INCLUDED AS PART OF THIS RETURN. |
| FORM 990, PART VI, SECTION A, LINE 5 | IN SEPTEMBER 2023, THE INSTITUTE'S OUTSIDE FINANCIAL CONSULTANT INFORMED LEGAL COUNSEL AND INSTITUTE'S SENIOR FINANCE STAFF-PERSON THAT HIS REVIEW OF THE INSTITUTE'S AND THINKWELL LLC'S FINANCIAL TRANSACTIONS APPEARED TO BE DISCORDANT WITH RESPECT TO THE "PREPAID ADVANCES" PROVIDED BY THE INSTITUTE TO THE LLC. THE INSTITUTE'S LEGAL COUNSEL THEN REPORTED THAT THE INSTITUTE HAD NEVER DISCLOSED THOSE AMOUNTS AS LOANS TO THE LLC UPON SCHEDULE L, PART II. IT WAS THEREAFTER CONFIRMED THAT NO INTEREST HAD BEEN ASSIGNED AS PAYABLE UPON THE AMOUNTS ADVANCED. LEGAL COUNSEL OPINED THAT FAILURE TO CAPTURE FAIR MARKET VALUE INTEREST ON THE "PREPAID ADVANCES" WHICH WERE EQUIVALENT TO LOANS COMPRISED AN AUTOMATIC EXCESS BENEFIT TRANSACTION UNDER IRC SECTION 4958. THE INSTITUTE'S 2022 FILED 990 CORRECTED THE PRIOR REPORTING YEARS' 990S ERROR IN FAILING TO SHOW FUNDS "ADVANCED" TO THE LLC AS A LOAN ON SCHEDULE L, PART II, AND BOTH THE 2022 990 AND THIS RETURN REPORT THE NO-INTEREST LOAN AS AN EXCESS BENEFIT TRANSACTION ON SCHEDULE'S PART I. AT YEAR-END 2022 THE CUMULATIVE UNPAID INTEREST TOTALED $248,849, AND SINCE THIS FACT WAS ONLY UNCOVERED IN 2023, THIS FILING REPORTS SAME AS A "SIGNIFICANT DIVERSION OF ASSETS," ALONG WITH THE ADDITIONAL MAGNITUDE OF INTEREST REQUIRED ON THE UNPAID LOAN BALANCES IN 2023, $108,344. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DID NOT HAVE ANY COMMITTEES DURING 2023. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 AND RELATED DOCUMENTS ARE PREPARED BY A NATIONALLY RECOGNIZED, INDEPENDENT ACCOUNTING FIRM WITH DEEP EXPERIENCE IN THE NONPROFIT SECTOR. THE DRAFT FORM 990 IS THOROUGHLY REVIEWED BY MANAGEMENT AND EXTERNAL COUNSEL PRIOR TO FINALIZATION. THE COMPLETED 990 IS THEN SHARED WITH THE BOARD OF DIRECTORS FOR A FINAL REVIEW PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12 | THE APPRECIATION OF IMPROPER CONFLICT OF INTEREST MANAGEMENT CAME TO LIGHT FULLY IN THE COURSE OF 2023 AS FILER'S MANAGEMENT STAFF UNCOVERED PROBLEMATIC RECORDKEEPING AND LEARNED OF GOVERNANCE ISSUES STEMMING FROM THE RELATIONSHIP BETWEEN THINKWELL LLC AND THE INSTITUTE. AS NOTED ABOVE, FILER'S "OLD GUARD" DIRECTORS HAD RESIGNED IN JANUARY 2023 AND IN THEIR PLACE APPOINTED A SOLE DIRECTOR WHO, WITHIN FIVE AND A HALF MONTHS, HAD RECRUITED TWO NEW, AND INDEPENDENT DIRECTORS, BOTH OF WHOM WERE KNOWLEDGEABLE IN INTERNATIONAL NGO OPERATIONS AND HAD DEEP EXPERIENCE IN DEVELOPMENT ASSISTANCE FOR HEALTHCARE. ADDITIONALLY RECRUITED IN 2023 WAS AN INDIVIDUAL WITH FINANCIAL MANAGEMENT EXPERTISE WHO AGREED TO BE AN ADVISOR (AND ULTIMATELY A DIRECTOR, JOINING THE BOARD IN 2024). IN THE 2023 YEAR, THE INSTITUTE'S TOP MANAGEMENT STAFF FOCUSED ON ENSURING BOTH THAT THINKWELL LLC'S OBLIGATIONS IN PROVIDING MANAGEMENT SERVICES TO THE INSTITUTE WERE BEING PROPERLY MET, AND THAT PRIOR YEAR AND CURRENT YEAR FINANCIAL TRANSACTIONS WITH RESPECT TO THOSE INTERSECTIONS WERE ACCURATELY RECORDED. THOSE EFFORTS FUELED BOTH THE 2022 990'S CORRECTIVE REPORTING AS WELL THIS YEAR'S FILING. FILER'S BOARD HAD, AND MAINTAINS TO THE PRESENT DAY, COMPLETE CONFIDENCE IN THE INSTITUTE'S TOP MANAGEMENT STAFF DAI HOZUMI AND JENNIFER FLINN EACH OF WHOM WERE INTENSIVELY INVOLVED IN UNCOVERING THE AFOREMENTIONED ISSUES AND WHO TOGETHER SAW TO THE ACCOMPLISHMENT, OVERSEEN BY THE INSTITUTE'S INDEPENDENT BOARD, OF THE REPAIR WORK NOTED IN THIS FILING WHILE CO-EMPLOYED BY THINKWELL LLC AND THE INSTITUTE. BOTH HOZUMI AND FLINN MOVED TO DIRECT EMPLOYMENT WITH THE INSTITUTE ON MARCH 1, 2025, THE FORMER NOW CONTINUING HIS ROLE AS THE INSTITUTE'S PRESIDENT AND CEO (WITH NO RESPONSIBILITIES TO SERVE THE LLC), AND THE LATTER AS THE INSTITUTE'S CHIEF OPERATING OFFICER (AND PROVIDING, VIA THE INSTITUTE, A SMALL AMOUNT OF TIME TO THE LLC TO ASSIST WITH FINANCIAL RECORDKEEPING ON ITS SIDE). |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. |
| FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC | IVA DUJUROVIC - 5800 DEAL PLACE, CHEVY CHASE, MD 20815. YOGESH RAJKOTIA - 5800 DEAL PLACE, CHEVY CHASE, MD 20815. |
| FORM 990, PART XI, LINE 9: | CODE SEC. 7872 INTEREST ACCRUED 357,193. PRIOR YEAR INTERCOMPANY ELIMINATIONS -88,323. |
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