About this organisation
Summary of activities
The Aikenhead Centre for Medical Discovery (ACMD) is a collaborative biomedical engineering centre accelerating the translation and commercialisation of research. This includes the delivery of much-needed, cutting-edge medical and healthcare solutions with a focus on medtech, biotech and digital health. The ACMD brings together clinicians, major universities, leading research institutions, and innovative healthcare companies to develop novel technologies and drive the health system s transformation through research, collaboration and education. The ACMD is co-located at St Vincent s Hospital Melbourne, expanding opportunities for clinician-led research. State-of-the-art equipment, laboratories and facilities combined with strong affiliations with universities foster a thriving biomedical engineering ecosystem. During the year the ACMD ran a programs to bring together experts to address clinically-focussed medical needs (ACMD Link and ACMD Challenge). The ACMD continued with programs to support early stage enterprises understand medical device development (ACMD Focus and ACMD Advise) . The ACMD participated in establishing the Victorian Medtech Training Hub (VMH). And the ACMD team have been preparing the team, tools and plans for the grand opening of building in 2025.
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Outcomes
Outcomes are self-reported by charities
Programs and activities
Name: ACMD Challenge
URL: https://www.acmd.org.au/programs
Classification: Health and medical research (Health > Health and medical research)
Beneficiaries:- Adults - aged 25 to under 65
- Adults - aged 65 and over
Name: ACMD Link
URL: https://www.acmd.org.au/programs
Classification: Health and medical research (Health > Health and medical research)
Beneficiaries:- Adults - aged 25 to under 65
Name: ACMD Advise
URL: https://www.acmd.org.au/programs
Classification: Health and medical research (Health > Health and medical research)
Beneficiaries:- Adults - aged 25 to under 65
Name: ACMD Engine
URL: https://www.acmd.org.au/programs
Classification: Health and medical research (Health > Health and medical research)
Beneficiaries:- Adults - aged 25 to under 65
Name: Victorian Medtech Training Hub (VMH)
URL: https://vicmedtechhub.com.au
Classification: Higher education (Education > Higher education )
Beneficiaries:- Adults - aged 25 to under 65
Finances
What is this?
This graph shows how much revenue (money in) and expenses (money out) the charity has had each year over the last few years. Charities have many sources of revenue, such as donations, government grants, and services they sell to the public. Similarly, expenses are everything that allows the charity to run, from paying staff to rent.
What should I be looking for?
First off, this graph gives a general indication of how big the charity is - charities range in size from tiny (budgets of less than $100,000) to enormous (budgets more than $100 million). You're also looking for variability - if the charity's revenue and expenses are jumping up and down from year to year, make sure there's a good reason for it.
Unlike companies, charities and not-for-profits aren't on a mission to make money. However, if they spend more than they receive, eventually they will go into too much debt and run into trouble. As a very general rule, you want revenue to be slightly above expenses. If expenses is reliably above revenue, the charity is losing money. If revenue is much larger than expenses, it means the charity might not be using its resources effectively. It isn't always that simple, however, and there's a lot of reasons a charity might not follow this pattern. They might be saving up for a big purchase or campaign, or they might have made a big one-off payment. If you're worried, always look at the annual and financial reports to understand why the charity is making the decisions it is.
What is this?
If a charity receives more money than it spends, that's a surplus (in business, it would be called profit). If it spends more than it receives, that's a deficit. This chart shows surpluses and deficits for the charity over the last few years.
What should I be looking for?
Unlike companies, charities and not-for-profits aren't on a mission to make money. However, if they spend more than they receive, eventually they will go into too much debt and run into trouble. As a very general rule, you want a charity to make a small surplus on average. A deficit means that charity lost money that year, which may indicate poor financial management or just a series of bad circumstances. If the charity always has a huge surplus, it means the charity might not be using its resources effectively. It isn't always that simple, however, and there's a lot of reasons a charity might not follow this pattern. They might be saving up for a big purchase or campaign, or they might have made a big one-off payment. If you're worried, always look at the annual and financial reports to understand why the charity is making the decisions it is.
What is this?
This chart compares the amount the charity receives from various sources, including donations (i.e. money given by the general public or philanthropy), goods and services, government grants, and other sources.
What should I be looking for?
Donations are an important source of revenue for some charities. Others rely more heavily on government funding, or on revenue from other sources. This is an indication of how much they need donors to accomplish their mission. Note that there is no 'good' or 'bad' amount of donations for a charity to have. It might be interesting to look at values over time - are they going up or down? A charity that gets less donations every year may be in trouble.
What is this?
Assets are things that the charity owns that are worth something. This could be anything from a car to investments. Similarly, liabilities are debts or obligations that the charity owes to someone else, like a loan or an agreement to pay for something.
What should I be looking for?
Firstly, in general a charity should have more assets than liabilities. If it doesn't, it implies that the charity might not be able to pay its debts, and you should look very closely at the charity's annual and financial reports to make sure they are taking steps to remedy this. Current assets should generally be above current liabilities - that means the charity can easily pay off the debts that are coming due soon. Beyond that, look for a large stockpile of assets. While a charity should have enough assets to keep it afloat in hard times (a 'buffer') if that stockpile gets too large the charity could be using that money more effectively. As always, if you have concerns check the annual and financial reports.
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