Bio-Med Science Academy Stem School

Tax-deductible

Rootstown, OH501(c)(3)Since 2013EducationEIN 46-3199735

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The Bio-Med Academy provides an innovative and progressive learning environment that cultivates academic excellence and rigor in science, technology, engineering, mathematics and medicine StemM disciplines while nurturing creativity, inventiveness and community in its school.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $2.0M a year · 18% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $249K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$6.0M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.1M
+7% vs prior year
Spent
$13.0M
To programs
100%
Net assets
$26.0M
By yearFY2020–FY2024
Revenue
$13.1M
FY2024▲ +7%
Revenue by fiscal year
FY2020$11.6M
FY2021$11.4M
FY2022$10.8M
FY2023$9.7M
FY2024$12.2M
FY2024$13.1M
Expenses
$13.0M
FY2024▲ +16%
Expenses by fiscal year
FY2020$6.3M
FY2021$7.1M
FY2022$10.8M
FY2023$10.3M
FY2024$11.3M
FY2024$13.0M
Net assets
$26.0M
FY2024▼ -2%
Net assets by fiscal year
FY2020$21.8M
FY2021$26.0M
FY2022$26.0M
FY2023$25.4M
FY2024$26.4M
FY2024$26.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2014.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $13.0M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Chief Administrative Officer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
See Bio-Med Science Academy Stem School 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 15aYes

Programs and updates

Offers advanced STEM education in a progressive learning environment.

Provided by the organization

This section is blank until Bio-Med Science Academy Stem School claims this page.

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1 program service account for $13.0M of program spending, described in the organization's own filed words · FY2024.
01

The Bio-Med Academy provides an innovative and progressive learning environment that cultivates academic excellence and rigor in science, technology, engineering, mathematics and medicine StemM disciplines while nurturing creativity, inventiveness and community in its students.

$13.0Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$249K
See all 3 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$13.1M
Ln 12
Gifts and grantsLn 1h$12.5M
Investment incomeLn 3$372K
Fees for servicesLn 2g$169K
Money outPt IX
$13.0M
Ln 25
Programscol B$13.0M
Owns and owesPt X
$26.0M
net assets · Ln 32
Cash and savingsLn 1–2$8.6M
Total assetsLn 16$32.0M
LiabilitiesLn 26$6.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.5M
Government grantsLn 1e$12.5M
Fees for servicesLn 2g$169K
Investment incomeLn 3$372K
Other incomeLn 4–11$28K
Total revenueLn 12$13.1M
Assets in detailPt X, end of year
CashLn 1$8.6M
Cash and savings togetherLn 1–2$8.6M
Land, buildings, equipmentLn 10c$23.1M
Total assetsLn 16$32.0M
LiabilitiesLn 26$6.0M
Net assetsLn 32$26.0M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$7.5M$8.6M
Land, buildings, equipmentLn 10c$24.3M$23.1M
Total assetsLn 16$31.9M$32.0M
LiabilitiesLn 26$5.6M$6.0M
Net assetsLn 32$26.4M$26.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$9.2M$9.2M
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$594K$594K
Advertising and promotionLn 12$64K$64K
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$694K$694K
TravelLn 17$74K$74K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$52K$52K
InterestLn 20$133K$133K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$1.3M$1.3M
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$725K$725K
All other expensesLn 24e$101K$101K
Total functional expensesLn 25$13.0M$13.0M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $12.2M$11.3M$989K$26.4M 990 PDF
FY2023 $9.7M$10.3M−$640K$25.4M 990 PDF
FY2022 $10.8M$10.8M$2K$26.0M 990 PDF
FY2021 $11.4M$7.1M$4.2M$26.0M 990 PDF
FY2020 $11.6M$6.3M$5.3M$21.8M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $13,057,430 across 7 lines filed
VIII-1e Government grants$12,476,515
VIII-1f All other contributions, gifts and grants$11,678
VIII-1h Total contributions, gifts and grants$12,488,193
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $168,541$168,541
VIII-3 Investment incomeRelated to mission $372,433$372,433
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $28,263$28,263
VIII-12 Total revenueRelated to mission $569,237$13,057,430
Part IX · Statement of functional expenses $12,995,104 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $9,226,295$9,226,295
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $593,542$593,542
IX-12 Advertising and promotionPrograms $64,358$64,358
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $694,291$694,291
IX-17 TravelPrograms $74,408$74,408
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $51,661$51,661
IX-20 InterestPrograms $133,311$133,311
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $1,330,911$1,330,911
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $725,453$725,453
IX-24e All other expensesPrograms $100,874$100,874
IX-25 Total functional expensesPrograms $12,995,104 · Management $0 · Fundraising $0$12,995,104
Part X · Balance sheet $31,979,044 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $7,475,805$8,593,285
X-3 Pledges and grants receivableStart of year $44,348$161,078
X-4 Accounts receivableStart of year $39,556$69,642
X-9 Prepaid expenses and deferred chargesStart of year $32,046$82,065
X-10c Land, buildings and equipment, netStart of year $24,325,271$23,072,974
X-16 Total assetsStart of year $31,917,026$31,979,044
X-17 Accounts payable and accrued expensesStart of year $99,784$73,619
X-25 Other liabilitiesStart of year $5,466,130$5,955,359
X-26 Total liabilitiesStart of year $5,565,914$6,028,978
X-27 Net assets without donor restrictionsStart of year $26,228,222$25,756,077
X-28 Net assets with donor restrictionsStart of year $122,890$193,989
X-32 Total net assets or fund balancesStart of year $26,351,112$25,950,066
X-33 Total liabilities and net assetsStart of year $31,917,026$31,979,044
Part XI · Reconciliation of net assets $25,950,066 net assets at year end
XI-1 Total revenue$13,057,430
XI-2 Total expenses$12,995,104
XI-3 Revenue less expenses$62,326
XI-4 Net assets at start of year$26,351,112
XI-8 Prior period adjustments−$463,372
XI-10 Net assets at end of year$25,950,066

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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