Life Sciences NY INC FY2023 filing

Not tax-deductible

Syracuse, NY501(c)(6)Medical ResearchEIN 20-1405018

To develop collaborative bilateral and multilateral relationships within the new york business community to further growth of medical technology companies, as well as developers of enabling technologies and services, through an organized networking and information sharing structure

$146K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $41K a year · 11% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$146K
to officers and key staff · 46% of spending
Concern: pay to officers and key staff is 46% of spending; over 30%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$241K
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$491K
+17% vs prior year
Spent
$319K
Net assets
$230K
By yearFY2021–FY2025
Revenue
$491K
FY2023▲ +17%
Revenue by fiscal year
FY2021$356K
FY2022$419K
FY2023$491K
FY2024$314K
FY2025$338K
Expenses
$319K
FY2023▼ -8%
Expenses by fiscal year
FY2021$316K
FY2022$348K
FY2023$319K
FY2024$388K
FY2025$341K
Net assets
$230K
FY2023▲ +297%
Net assets by fiscal year
FY2021−$12K
FY2022$58K
FY2023$230K
FY2024$156K
FY2025$153K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

23 people listed on the 990; $146K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$146,154Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Winthrop Thurlow’s $156K as Executive Director is at the 89th percentile of top reported officer pay among 328 $100K–1M medical research nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Winthrop Thurlow$155,724$152,900$146,154$143,489$136,620

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects New York businesses to grow medical technology companies and their supporting services.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2022.
01

The organization provides members with networking opportunities, educational seminars, and periodic updates on events that effect the medical technology industry.

Pt IX · col B

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By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$491K
Ln 12
Fees for servicesLn 2g$291K
Other incomeLn 4–11$200K
Investment incomeLn 3$569
Money outPt IX
$319K
Ln 25
Owns and owesPt X
$230K
net assets · Ln 32
Cash and savingsLn 1–2$206K
Total assetsLn 16$471K
LiabilitiesLn 26$241K
PeoplePt VI, VII
23
listed · VII A
PaidVII A1
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$291K
Investment incomeLn 3$569
Other incomeLn 4–11$200K
Total revenueLn 12$491K
Assets in detailPt X, end of year
CashLn 1$142K
SavingsLn 2$64K
Cash and savings togetherLn 1–2$206K
Total assetsLn 16$471K
LiabilitiesLn 26$241K
Net assetsLn 32$230K
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$104K$206K
Total assetsLn 16$282K$471K
LiabilitiesLn 26$224K$241K
Net assetsLn 32$58K$230K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$146K
Other salaries and wagesLn 7$42K
Pension plan contributionsLn 8$6K
Other employee benefitsLn 9$2K
Payroll taxesLn 10$15K
Accounting feesLn 11c$10K
Lobbying feesLn 11d$24K
Other fees for servicesLn 11g$2K
Advertising and promotionLn 12$12K
Office expensesLn 13$227
Information technologyLn 14$8K
OccupancyLn 16$10K
TravelLn 17$6K
Conferences, conventions and meetingsLn 19$27K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$5K
Total functional expensesLn 25$319K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $338K$341K−$3K$153K 990 PDF
FY2024 $314K$388K−$74K$156K 990 PDF
FY2023 Viewing $491K$319K$172K$230K 990 PDF
FY2022 $419K$348K$70K$58K 990 PDF
FY2021 $356K$316K$41K−$12K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $491,083 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $290,514$290,514
VIII-3 Investment incomeExcluded from tax $569$569
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $200,000$200,000
VIII-12 Total revenueRelated to mission $290,514 · Unrelated business $0 · Excluded from tax $200,569$491,083
Part IX · Statement of functional expenses $319,251 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$146,154
IX-7 Other salaries and wages$42,392
IX-8 Pension plan contributions$5,507
IX-9 Other employee benefits$1,556
IX-10 Payroll taxes$15,122
IX-11c Accounting fees$10,447
IX-11d Lobbying fees$24,300
IX-11g Other fees for services$1,644
IX-12 Advertising and promotion$12,011
IX-13 Office expenses$227
IX-14 Information technology$7,687
IX-16 Occupancy$10,200
IX-17 Travel$6,188
IX-19 Conferences, conventions and meetings$26,643
IX-23 Insurance$3,836
IX-24 Other expenses (24a–d)$5,337
IX-25 Total functional expenses$319,251
Part X · Balance sheet $470,528 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $90,456$141,596
X-2 Savings and temporary cash investmentsStart of year $13,507$64,075
X-4 Accounts receivableStart of year $177,565$264,667
X-9 Prepaid expenses and deferred charges$190
X-16 Total assetsStart of year $281,528$470,528
X-17 Accounts payable and accrued expensesStart of year $16,529$24,681
X-19 Deferred revenueStart of year $207,125$216,141
X-26 Total liabilitiesStart of year $223,654$240,822
X-27 Net assets without donor restrictionsStart of year $57,874$229,706
X-32 Total net assets or fund balancesStart of year $57,874$229,706
X-33 Total liabilities and net assetsStart of year $281,528$470,528
Part XI · Reconciliation of net assets $229,706 net assets at year end
XI-1 Total revenue$491,083
XI-2 Total expenses$319,251
XI-3 Revenue less expenses$171,832
XI-4 Net assets at start of year$57,874
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$229,706

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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