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Nyc Builds Bio INC

Tax-deductible

New York, NY501(c)(3)Science & TechnologyEIN 83-2265630Revenue $541K in FY2024

On file with the IRSnycbuildsbio.org380 Lexington Ave Rm 1505, 10168-1594 · New York, NYTax-exempt since Jan 2020Publicly supported — 509(a)(2)

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The goal of Nyc Builds Bio+ is to educate and increase the visibility of commercial life sciences opportunities to new york city's real estate development community and to jump start life science real estate development in Nyc in a manner that will foster a large and growing cluster, such as that enjoyed by boston/cambridge and san francisco.

501(c)(3) charity; gifts are tax-deductible.
67¢ 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
3 of 5
filings with a surplus
Average surplus $7K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$541K
-5% vs prior year
Spent
$530K
To programs
67%
Net assets
$39K
By yearFY2020–FY2024
Revenue
$541K
FY2024▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$261K
FY2021$352K
FY2022$502K
FY2023$570K
FY2024$541K
Expenses
$530K
FY2024▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$254K
FY2021$359K
FY2022$469K
FY2023$581K
FY2024$530K
Net assets
$39K
FY2024▲ +40%
Tap a bar for its year
Net assets by fiscal year
FY2020$12K
FY2021$6K
FY2022$39K
FY2023$28K
FY2024$39K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2020.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $353K Management & general 33% · $176K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Nancy J Kelley
Co-President
$0Pt VII · Sec A
Mitchel W Simpler
Co-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Aronne
Director
$0Pt VII · Sec A
See Nyc Builds Bio 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 15aYes

Programs and updates

Educates real estate developers about life sciences opportunities to grow NYC's industry.

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Provided by the organization

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2 programs · $353K · in their own filed words · FY2024
01

Nyc builds bio+ provides ongoing educational services to its members in the life science and real estate industries, as well as to the community generally, about fostering life science industry growth in new york city and the surrounding areas, through the annual symposium, quarterly panel presentations, and a regular newsletter.

$340Kprogram expense
02

"enriching life science study tour of LONDON/UK", provided a unique and meticulously curated experience for those eager to delve into the world of biomedical innovation. Participants explored key locations within LONDON'S/UK'S vibrant life science ecosystem, recognized globally for its blend of tradition and cutting-edge research.

$13Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$541K
Ln 12
Fees for servicesLn 2g$541K
Money outPt IX
$530K
Ln 25
Programscol B$353K
Managementcol C$176K
Owns and owesPt X
$39K
net assets · Ln 32
Cash and savingsLn 1–2$39K
Total assetsLn 16$39K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$541K
Total revenueLn 12$541K
Assets in detailPt X, end of year
CashLn 1$39K
Cash and savings togetherLn 1–2$39K
Total assetsLn 16$39K
LiabilitiesLn 26$0
Net assetsLn 32$39K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$28K$39K
Total assetsLn 16$28K$39K
LiabilitiesLn 26$0$0
Net assetsLn 32$28K$39K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$14K$14K
Other fees for servicesLn 11g$272K$201K$71K
Office expensesLn 13$18K$18K
Information technologyLn 14$70K$70K
TravelLn 17$871$871
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$152K$152K
Total functional expensesLn 25$530K$353K$176K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $541K$530K$11K$39K 990 PDF
FY2023 $570K$581K−$11K$28K 990 PDF
FY2022 $502K$469K$33K$39K 990 PDF
FY2021 $352K$359K−$7K$6K 990 PDF
FY2020 $261K$254K$7K$12K 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 (6 parts)
Part I · Summary $540,731 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $569,647$540,731
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $569,647$540,731
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $580,683$529,653
I-18 Total expensesPrior year $580,683$529,653
I-19 Revenue less expensesPrior year −$11,036$11,078
Part VI · Governance 4 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $540,731 across 2 lines filed
Lines not itemized here account for $42,000 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $498,731$498,731
VIII-12 Total revenueRelated to mission $540,731 · Unrelated business $0 · Excluded from tax $0$540,731
Part IX · Statement of functional expenses $529,653 across 7 lines filed
IX-11c Accounting feesManagement $13,571$13,571
IX-11g Other fees for servicesPrograms $201,232 · Management $71,262$272,494
IX-13 Office expensesManagement $18,494$18,494
IX-14 Information technologyManagement $70,023$70,023
IX-17 TravelManagement $871$871
IX-23 InsuranceManagement $2,011$2,011
IX-24 Other expenses (24a–d)Programs $152,189$152,189
IX-25 Total functional expensesPrograms $353,421 · Management $176,232 · Fundraising $0$529,653
Part X · Balance sheet $38,880 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $27,802$38,880
X-16 Total assetsStart of year $27,802$38,880
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $27,802$38,880
X-33 Total liabilities and net assetsStart of year $27,802$38,880
Part XI · Reconciliation of net assets $38,880 net assets at year end
XI-1 Total revenue$540,731
XI-2 Total expenses$529,653
XI-3 Revenue less expenses$11,078
XI-4 Net assets at start of year$27,802
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$38,880

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

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