Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $224K paid to officers and key staff.
Thomas Hall’s $224K as Executive Director is at the 73rd percentile of top reported officer pay among 2832 $1–10M community development 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 · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2020 |
|---|---|---|---|---|
| Thomas Hall | $224,161 | $220,856 | $109,164 | — |
| Kathleen Otto | — | — | — | $165,000 |
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
Builds space for biopharm tech companies to innovate on a modern waterfront.
Questions for Biobat INC
Your first name shows with your question. Biobat INC answers here, for everyone.
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Biobat holds a lease interest in a portion of the brooklyn army terminal and is committed to creating a 21ST century working waterfront. Thus far government funding has allowed biobat to acquire, maintain and develop this leasehold interest, as well as develop space for innovative companies to apply for occupancy and enter into leases…
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.0M | $3.0M |
| Land, buildings, equipmentLn 10c | $20.6M | $19.9M |
| Total assetsLn 16 | $26.2M | $24.5M |
| LiabilitiesLn 26 | $420K | $133K |
| Net assetsLn 32 | $25.7M | $24.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $316K | $284K | $32K | |
| Management feesLn 11a | $45K | $45K | ||
| Legal feesLn 11b | $58K | $58K | ||
| Accounting feesLn 11c | $80K | $80K | ||
| Other fees for servicesLn 11g | $113K | $113K | ||
| Advertising and promotionLn 12 | $2K | $2K | ||
| Office expensesLn 13 | $578 | $578 | ||
| Information technologyLn 14 | $7K | $7K | ||
| OccupancyLn 16 | $542K | $488K | $54K | |
| TravelLn 17 | $8K | $8K | ||
| Conferences, conventions and meetingsLn 19 | $17K | $17K | ||
| Depreciation, depletion and amortizationLn 22 | $691K | $691K | ||
| InsuranceLn 23 | $148K | $148K | ||
| Other expenses (24a–d)Ln 24 | $1.3M | $1.2M | $95K | |
| All other expensesLn 24e | $9K | $9K | ||
| Total functional expensesLn 25 | $3.3M | $2.8M | $478K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $2.0M | $3.3M | −$1.3M | $24.4M | 990 PDF |
| FY2024 | $3.5M | $4.3M | −$781K | $25.7M | 990 PDF |
| FY2023 | $3.3M | $4.0M | −$667K | $26.7M | 990 PDF |
| FY2022 | $3.1M | $2.6M | $522K | $27.6M | 990 PDF |
| FY2021 | $3.8M | $3.0M | $793K | $27.1M | 990 PDF |
| FY2020 | $3.5M | $2.8M | $716K | $26.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,982,133 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, no flags
Part VIII · Statement of revenue $1,982,133 across 3 lines filed
Part IX · Statement of functional expenses $3,290,311 across 15 lines filed
Part X · Balance sheet $24,486,871 assets, 12 lines filed
Part XI · Reconciliation of net assets $24,353,526 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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