Fogarty Institute for Innovation
Fogarty Institute for Innovation
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About this organization
Mission
The Fogarty Institute for Innovation is dedicated to finding new ways to treat illnesses and improve the well-being of patients through the practical application of innovative ideas and the education and mentoring of medical innovators.
About
Innovation program - For decades, the United States has benefited from being home to the pre-eminent medical innovation ecosystem in the world. This has ensured success to cutting-edge treatment options for the nation's citizens, has fueled the economy by being a major driver of small business and job creation, and has represented a significant and critical component of the nation's overall global technological leadership. The ultimate goal of the 501(c)(3) non-profit Fogarty Institute for Innovation is to support medical innovation to benefit patients. As a necessary consequence of this effort, the institute addresses the factors threatening the nation's medical innovation ecosystem head-on. The unique approach of the institute is to identify innovations that have especially high potential for patient benefit. Through its flagship innovation support program, the Fogarty Institute receives applications for support from a broad candidate pool that includes physicians, students, engineers, and entrepreneurs. Innovations having the greatest potential for patient benefit are selected, and the institute supports the innovator's efforts to deliver their innovations to patients. The types of support provided to selected innovators by the institute include (a) direct mentoring by Dr. Fogarty and other members of the mentor staff in the process of medical innovation and development, (b) significant, unfettered access to El Camino Hospital physicians and facilities that provides innovators with invaluable information that guides medical technology development, (c) laboratory/engineering space, (d) financial aid, and (e) access to the institute's network of clinical experts. The institute's lab space is currently devoted to the development of medical technologies that address a range of conditions, and these include maternal and infant health, cardiovascular disease, and a variety of diagnostic tools.
Interesting data from their 2020 990 filing
The filing outlines the non-profit's goal as “The fogarty institute for innovation is dedicated to finding new ways to treat illnesses and improve the well-being of patients through the practical application of innovative ideas and the education and mentoring of medical innovators.”.
When explaining its purpose, the activities were outlined as: “The fogarty institute for innovation is dedicated to finding new ways to treat illnesses and improve the well-being of patients through the practical application of innovative ideas and the education and mentoring of medical innovators.”.
- As per legal reporting requirements, the state of operation for the non-profit is CA.
- The non-profit's address for 2020 is listed as 2490 HOSPITAL DRIVE NO 310, MOUNTAIN VIEW, CA, 94040 in the filing.
- As per the non-profit's form, they have 23 employees as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$595,394.
- The organization has 7 independent voting members.
- The organization was formed in 2006.
- The organization pays $1,736,946 in salary, compensation, and benefits to its employees.
- The organization pays $172,463 in fundraising expenses.