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Biobat INC FY2020 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2010Community DevelopmentEIN 45-3533828Revenue $3.5M in FY2020

On file with the IRSbiobat.nyc450 Clarkson Ave, 11203-2012 · Brooklyn, NYTax-exempt since Jan 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Biobat, a joint partnership, created by the research foundation for SUNY, on behalf of downstate health sciences university, and the new york city economic development corporation, provides:- sophisticated research, office and manufacturing space for local, national and international biotechnology and related companies- the opportunity to work with SUNY downstate scientists / clinicians / students to advance their discoveries and perform clinical trials- educational, entrepreneurial and job training opportunities- an economic engine to create jobs, advance knowledge and bring medical treatments and new technologies to the marketplace.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$165K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 6
filings with a surplus
Average deficit $121K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$165K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$325K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.5M
Spent
$2.8M
To programs
91%
Net assets
$26.3M
By yearFY2020–FY2025
Revenue
$3.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.5M
FY2021$3.8M
FY2022$3.1M
FY2023$3.3M
FY2024$3.5M
FY2025$2.0M
Expenses
$2.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$3.0M
FY2022$2.6M
FY2023$4.0M
FY2024$4.3M
FY2025$3.3M
Net assets
$26.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$26.3M
FY2021$27.1M
FY2022$27.6M
FY2023$26.7M
FY2024$25.7M
FY2025$24.4M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Jan 2014.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $2.6M Management & general 9% · $258K

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

14 people listed on the 990; $165K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Kathleen Otto
Executive Director
$165,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeff Gambrell
Director as of 1/1/2020
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2020
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.

See Biobat INC executive salaries →

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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 15aNo

Programs and updates

Builds space for biopharm tech companies to innovate on a modern waterfront.

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Provided by the organization

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1 program · $2.6M · in their own filed words · FY2019
01

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…

$2.6Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.5M
Ln 12
Fees for servicesLn 2g$3.5M
Other incomeLn 4–11$37K
Gifts and grantsLn 1h$4K
Money outPt IX
$2.8M
Ln 25
Programscol B$2.6M
Managementcol C$258K
Owns and owesPt X
$26.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$26.7M
LiabilitiesLn 26$325K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Fees for servicesLn 2g$3.5M
Other incomeLn 4–11$37K
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$514K
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$22.1M
Other assetsLn 15$1.8M
Total assetsLn 16$26.7M
LiabilitiesLn 26$325K
Net assetsLn 32$26.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY20End FY20
Cash and savingsLn 1–2$2.5M$2.0M
Land, buildings, equipmentLn 10c$44.3M$22.1M
Total assetsLn 16$47.8M$26.7M
LiabilitiesLn 26$317K$325K
Net assetsLn 32$47.4M$26.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$189K$172K$17K
Other salaries and wagesLn 7$78K$78K
Other employee benefitsLn 9$46K$39K$7K
Accounting feesLn 11c$46K$46K
Other fees for servicesLn 11g$175$175
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$9K$8K$1K
Information technologyLn 14$6K$6K$623
OccupancyLn 16$720K$648K$72K
TravelLn 17$154$154
Conferences, conventions and meetingsLn 19$536$536
Depreciation, depletion and amortizationLn 22$685K$685K
InsuranceLn 23$134K$134K$65
Other expenses (24a–d)Ln 24$910K$874K$36K
Total functional expensesLn 25$2.8M$2.6M$258K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $3.5M$2.8M$716K$26.3M 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 FY2020 990 (6 parts)
Part I · Summary $3,543,927 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $128,927$4,450
I-9 Program service revenuePrior year $2,176,668$3,502,679
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $1,708$36,798
I-12 Total revenuePrior year $2,307,303$3,543,927
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $248,986$312,541
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,807,378$2,515,097
I-18 Total expensesPrior year $3,056,364$2,827,638
I-19 Revenue less expensesPrior year −$749,061$716,289
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,543,927 across 5 lines filed
VIII-1f All other contributions, gifts and grants$4,450
VIII-1h Total contributions, gifts and grants$4,450
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,502,679$3,502,679
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $36,798$36,798
VIII-12 Total revenueRelated to mission $3,502,679 · Unrelated business $0 · Excluded from tax $36,798$3,543,927
Part IX · Statement of functional expenses $2,827,638 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $172,250 · Management $16,501$188,751
IX-7 Other salaries and wagesManagement $78,241$78,241
IX-9 Other employee benefitsPrograms $38,619 · Management $6,930$45,549
IX-11c Accounting feesManagement $46,019$46,019
IX-11g Other fees for servicesManagement $175$175
IX-12 Advertising and promotionPrograms $3,525$3,525
IX-13 Office expensesPrograms $8,071 · Management $1,341$9,412
IX-14 Information technologyPrograms $5,611 · Management $623$6,234
IX-16 OccupancyPrograms $648,135 · Management $72,015$720,150
IX-17 TravelPrograms $154$154
IX-19 Conferences, conventions and meetingsPrograms $536$536
IX-22 Depreciation, depletion and amortizationPrograms $684,937$684,937
IX-23 InsurancePrograms $133,760 · Management $65$133,825
IX-24 Other expenses (24a–d)Programs $873,717 · Management $36,413$910,130
IX-25 Total functional expensesPrograms $2,569,315 · Management $258,323 · Fundraising $0$2,827,638
Part X · Balance sheet $26,658,147 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,651,633$1,500,319
X-2 Savings and temporary cash investmentsStart of year $804,908$513,829
X-4 Accounts receivableStart of year $255,099$509,857
X-9 Prepaid expenses and deferred chargesStart of year $320,095$300,930
X-10c Land, buildings and equipment, netStart of year $44,305,029$22,067,212
X-15 Other assetsStart of year $424,215$1,766,000
X-16 Total assetsStart of year $47,760,979$26,658,147
X-17 Accounts payable and accrued expensesStart of year $234,144$156,804
X-25 Other liabilitiesStart of year $83,075$168,556
X-26 Total liabilitiesStart of year $317,219$325,360
X-27 Net assets without donor restrictionsStart of year $47,443,760$26,332,787
X-32 Total net assets or fund balancesStart of year $47,443,760$26,332,787
X-33 Total liabilities and net assetsStart of year $47,760,979$26,658,147
Part XI · Reconciliation of net assets $26,332,787 net assets at year end
XI-1 Total revenue$3,543,927
XI-2 Total expenses$2,827,638
XI-3 Revenue less expenses$716,289
XI-4 Net assets at start of year$47,443,760
XI-9 Other changes in net assets−$21,827,262
XI-10 Net assets at end of year$26,332,787

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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