Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2002.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
56 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
15 people listed on the 990; $1.4M paid to officers and key staff.
Shahram Hejazi’s $393K as CEO & Managing Director is at the 99th percentile of top reported officer pay among 1552 $1–10M youth 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 · 7 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Shahram Hejazi | $392,987 | $346,373 | $329,086 | $313,733 | $307,731 | $295,911 |
| Barbara S Schilberg | — | — | — | $282,152 | $331,702 | $320,100 |
| Frederick Jones | $169,199 | $347,954 | $331,836 | $316,414 | $310,079 | $298,434 |
| David Shin | $332,509 | $23,333 | — | — | — | — |
| Robert Driscoll | $250,203 | $225,611 | $215,197 | $205,377 | $201,182 | $197,152 |
| Greg Harriman | $240,026 | $215,100 | $194,362 | $60,629 | $81,595 | $77,314 |
| Marnie McCoy | $157,234 | $141,121 | $135,506 | $129,382 | $126,771 | $124,113 |
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
Supports biomedical innovation and emerging life sciences companies in Southeastern Pennsylvania.
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Greenhouse Program
The cornerstone of bioadvance investment activities - was launched two months after receiving the dced grant. The program funds young companies for 'proof of concept' work that within 24 months will provide enough scientific progress to enable them to attract venture capital or an industry partner.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
By the numbers
The FY2019 990, line by line.
Download 990
| Line | Start FY19 | End FY19 |
|---|---|---|
| Cash and savingsLn 1–2 | $20.0M | $18.9M |
| InvestmentsLn 11–13 | $40.1M | $46.9M |
| Land, buildings, equipmentLn 10c | $56K | $21K |
| Total assetsLn 16 | $60.3M | $66.0M |
| LiabilitiesLn 26 | $638K | $611K |
| Net assetsLn 32 | $59.7M | $65.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $1.2M | $978K | $191K | |
| Other salaries and wagesLn 7 | $330K | $68K | $262K | |
| Pension plan contributionsLn 8 | $10K | $4K | $6K | |
| Other employee benefitsLn 9 | $49K | $10K | $39K | |
| Payroll taxesLn 10 | $61K | $40K | $21K | |
| Legal feesLn 11b | $29K | $27K | $3K | |
| Accounting feesLn 11c | $40K | $40K | ||
| Lobbying feesLn 11d | $24K | $24K | ||
| Investment management feesLn 11f | $381 | $381 | ||
| Other fees for servicesLn 11g | $203K | $188K | $15K | |
| Office expensesLn 13 | $20K | $20K | ||
| Information technologyLn 14 | $29K | $29K | ||
| OccupancyLn 16 | $225K | $225K | ||
| TravelLn 17 | $7K | $7K | ||
| Conferences, conventions and meetingsLn 19 | $7K | $7K | ||
| Depreciation, depletion and amortizationLn 22 | $42K | $42K | ||
| InsuranceLn 23 | $59K | $59K | ||
| Other expenses (24a–d)Ln 24 | $100K | $46K | $55K | |
| All other expensesLn 24e | $21K | $834 | $20K | |
| Total functional expensesLn 25 | $2.4M | $1.4M | $1.1M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $7.1M | $2.6M | $4.5M | $77.8M | 990 PDF |
| FY2023 | $1.6M | $2.5M | −$922K | $77.3M | 990 PDF |
| FY2022 | $2.5M | $2.3M | $245K | $72.8M | 990 PDF |
| FY2021 | $2.9M | $2.4M | $519K | $79.8M | 990 PDF |
| FY2020 | $13.0M | $2.3M | $10.6M | $77.9M | 990 PDF |
| FY2019 Viewing | $2.6M | $2.4M | $132K | $65.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2019 990 (4 parts)
Part VIII · Statement of revenue $2,558,906 across 7 lines filed
Part IX · Statement of functional expenses $2,427,191 across 19 lines filed
Part X · Balance sheet $66,045,472 assets, 13 lines filed
Part XI · Reconciliation of net assets $65,434,274 net assets at year end
Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File
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