Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2018.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
77 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
9 people listed on the 990; $825K paid to officers and key staff.
Laurent Verkoczy’s $223K as Professor is at the 65th percentile of top reported officer pay among 360 $1–10M 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 · 7 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Laurent Verkoczy | $223,011 | $213,138 | — | — | — |
| Duncan McGregor | $122,412 | $175,432 | — | — | — |
| Vaughn Smider | $146,222 | $136,532 | $142,761 | $142,800 | $168,275 |
| Marilyn Diaz | $155,498 | $155,641 | — | — | — |
| Ruiqi Huang | $109,091 | — | — | — | — |
| Charles Melancon | $108,298 | $108,676 | — | — | — |
| Peter Slover | $30,950 | $35,175 | $49,875 | $47,175 | $28,650 |
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
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Conducting advanced research to drive medical breakthroughs and innovation.
Questions for Applied Biomedical Science Institute
Your first name shows with your question. Applied Biomedical Science Institute answers here, for everyone.
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The applied biomedical science institute (aka abs institute) is formed to promote and perform biomedical research involving biological mechanisms of disease pathogenesis and resolution. The institute will perform basic and translational biomedical research, including molecular, genetic, cellular, and physiological studies, and publish…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $179K | $69K |
| InvestmentsLn 11–13 | $238K | $371K |
| Land, buildings, equipmentLn 10c | $856K | $693K |
| Total assetsLn 16 | $2.9M | $2.8M |
| LiabilitiesLn 26 | $2.2M | $2.1M |
| Net assetsLn 32 | $662K | $673K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $756K | $513K | $243K | |
| Other salaries and wagesLn 7 | $1.0M | $869K | $143K | |
| Other employee benefitsLn 9 | $114K | $96K | $18K | |
| Payroll taxesLn 10 | $125K | $100K | $25K | |
| Legal feesLn 11b | $101K | $101K | ||
| Accounting feesLn 11c | $113K | $113K | ||
| Other fees for servicesLn 11g | $118K | $46K | $72K | |
| Office expensesLn 13 | $41K | $3K | $38K | |
| OccupancyLn 16 | $419K | $354K | $65K | |
| Conferences, conventions and meetingsLn 19 | $14K | $14K | ||
| InterestLn 20 | $48K | $48K | ||
| Depreciation, depletion and amortizationLn 22 | $235K | $235K | ||
| InsuranceLn 23 | $15K | $12K | $3K | |
| Other expenses (24a–d)Ln 24 | $992K | $924K | $68K | |
| Total functional expensesLn 25 | $4.1M | $3.2M | $950K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $4.5M | $4.3M | $258K | $946K | 990 PDF |
| FY2023 Viewing | $4.1M | $4.1M | −$20K | $673K | 990 PDF |
| FY2022 | $3.5M | $3.5M | −$17K | $662K | 990 PDF |
| FY2021 | $2.7M | $2.6M | $104K | $779K | 990 PDF |
| FY2020 | $1.4M | $1.1M | $324K | $607K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $4,081,942 revenue, 12 lines filed
Part VI · Governance 3 of 4 board members independent, 1 to look at
Part VIII · Statement of revenue $4,081,942 across 8 lines filed
Part IX · Statement of functional expenses $4,101,586 across 14 lines filed
Part X · Balance sheet $2,783,859 assets, 18 lines filed
Part XI · Reconciliation of net assets $672,891 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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