According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 11, Contributed Nonfinancial Assets): RAM received contributed nonfinancial assets during fiscal 2024 on which it placed a total value of $6,979,816. Of this amount, $6,307,965 was attributed to "Medical and Health Services." [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.] |
According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 16, Related Party Transactions): "The Organization uses companies owned by Board members to service aircrafts and purchase certain supplies. The
Board members all sign a Board Awareness and Conflict of Interest statement. Amounts paid to these companies
totaled approximately $196,667 during the year ended December 31, 2024..." |
According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 17, Concentrations): "Approximately 38% of financial contributions received during the year ended December 31, 2024 were from three
donors. Of these three donors, one provided a single grant that consisted of over 22% of total financial contributions
revenue in 2024..."
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According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 18, Commitments): "In 2024, the Organization entered into a contract to purchase two buildings for headquarters expansion for $6,620,000
plus settlement fees. The Organization incurred initial expenditures related to this purchase in 2024 of $40,821,
which consist primarily of earnest money, inspections and surveys of the buildings, and have been included in
Construction in Progress as of December 31, 2024. Both buildings are under lease agreements with the same tenant
through September 30, 2025, the terms of which are extendable for one more year through September 30, 2026, if
exercised. See Note 21 [cited below] for additional information."
According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 21, Subsequent Events): "As discussed in Note 18 [cited above], the Organization has a commitment to buy two buildings for headquarters expansion. The
sale closed in January 2025. To assist in funding the purchase, the Organization obtained a three-year loan note
payable from a bank in the amount of $2,500,000 in January 2025. The loan is payable in monthly payments of interest
at a rate of 4.00%, and one lump sum payment of principal plus interest due at maturity on December 18, 2027. The
loan is collateralized by a certificate of deposit held at the same bank.
In March 2025, the Organization sold two of its aircraft and received net proceeds of approximately $1,619,000." |
According to the Remote Area Medical (RAM) audit of December 31, 2024 (Note 20, Contingencies): "...In 2023, the Organization brought legal proceedings against a former employee and is seeking restitution. Additionally,
the Organization filed an insurance claim in 2023 related to losses incurred as a result of this matter and received
$250,000 from its insurance provider. At this time, a reasonable outcome of the legal matter is unable to be determined.
These financial statements do not include an adjustment for any potential contingency or recovery that may occur as a
result of this matter; any such events will be recognized when they are realized." |
According to the Remote Area Medical (RAM) tax filing of December 31, 2024, IRS Form 990, Schedule J, Part II, Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees: RAM reports providing "bonus & incentive compensation" during 2024 to two individuals: (1) Chris Hall, Chief Operations Officer, received $26,306 of bonus and incentive compensation, with total reported compensation of $183,094. (2) Jeff Eastman, Chief Executive Officer, received $1,421 of bonus and incentive compensation, with total reported compensation of $166,794.
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