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Bioversity INC

Tax-deductible

Cambridge, MA501(c)(3)Employment EIN 93-2178166Revenue $1.2M in FY2024

On file with the IRSbioversityma.org700 Technology Sq Ste 5, 02139-3557 · Cambridge, MATax-exempt since Mar 2024Publicly supported charity — 170(b)(1)(A)(vi)

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Bioversity, INC. Was formed to implement industry-aligned, expanded workforce training initiatives. Bioversity operates training centers, runs programming, and creates partnerships to provide massachusetts residents the skills and hands-on experience necessary to enter and thrive in life sciences careers.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
2 of 2
filings with a surplus
Average surplus $269K a year · 27% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$316K
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+58% vs prior year
Spent
$1.2M
To programs
74%
Net assets
$538K
By yearFY2023–FY2024
Revenue
$1.2M
FY2024▲ +58%
Tap a bar for its year
Revenue by fiscal year
FY2023$777K
FY2024$1.2M
Expenses
$1.2M
FY2024▲ +357%
Tap a bar for its year
Expenses by fiscal year
FY2023$264K
FY2024$1.2M
Net assets
$538K
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2023$514K
FY2024$538K

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 Mar 2024.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $893K Management & general 26% · $314K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Kevin Kelly
Chief Financial Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bioversity 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

Provides life sciences workforce training and hands-on experience for Massachusetts residents.

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Provided by the organization

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1 program · $893K · in their own filed words · FY2024
01

Bioversity is a workforce development program for the bio-sciences. While the entity was established in 2023, classes did not commence until 2024.

$893Kprogram expense

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
Jpmorgan Chase FoundationFY2024$200K
Total grants receivedfrom 1 funder$200K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$91K
Other incomeLn 4–11$7K
Money outPt IX
$1.2M
Ln 25
Programscol B$893K
Managementcol C$314K
Owns and owesPt X
$538K
net assets · Ln 32
Cash and savingsLn 1–2$371K
Total assetsLn 16$854K
LiabilitiesLn 26$316K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$738K
Noncash giftsLn 1g$6K
Fundraising eventsLn 1c$104K
Fees for servicesLn 2g$91K
Other incomeLn 4–11$7K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$371K
Cash and savings togetherLn 1–2$371K
Land, buildings, equipmentLn 10c$427K
Other assetsLn 15$0
Total assetsLn 16$854K
LiabilitiesLn 26$316K
Net assetsLn 32$538K
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
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$362K$371K
Land, buildings, equipmentLn 10c$64K$427K
Total assetsLn 16$521K$854K
LiabilitiesLn 26$7K$316K
Net assetsLn 32$514K$538K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$561K$359K$203K
Other employee benefitsLn 9$64K$41K$23K
Payroll taxesLn 10$32K$21K$12K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$13K$12K$769
Office expensesLn 13$3K$1$3K
Information technologyLn 14$29K$19K$11K
OccupancyLn 16$422K$399K$23K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$588$588
Depreciation, depletion and amortizationLn 22$59K$38K$21K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$1.2M$893K$314K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.2M$25K$538K 990 PDF
FY2023 $777K$264K$514K$514K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,231,693 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $777,410$1,134,115
I-9 Program service revenuePrior year $0$90,900
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$6,678
I-12 Total revenuePrior year $777,410$1,231,693
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$657,649
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $263,834$549,341
I-18 Total expensesPrior year $263,834$1,206,990
I-19 Revenue less expensesPrior year $513,576$24,703
Part VI · Governance 1 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
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 $1,231,693 across 8 lines filed
VIII-1c Fundraising events$103,820
VIII-1e Government grants$738,397
VIII-1f All other contributions, gifts and grants$291,898
VIII-1g Noncash contributions (included above)$6,250
VIII-1h Total contributions, gifts and grants$1,134,115
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $90,900$90,900
VIII-8 Net income from fundraising eventsExcluded from tax $6,678$6,678
VIII-12 Total revenueRelated to mission $90,900 · Unrelated business $0 · Excluded from tax $6,678$1,231,693
Part IX · Statement of functional expenses $1,206,990 across 14 lines filed
IX-7 Other salaries and wagesPrograms $358,738 · Management $202,583$561,321
IX-9 Other employee benefitsPrograms $40,918 · Management $23,107$64,025
IX-10 Payroll taxesPrograms $20,645 · Management $11,658$32,303
IX-11b Legal feesManagement $1,963$1,963
IX-11c Accounting feesManagement $10,000$10,000
IX-11g Other fees for servicesPrograms $5,089$5,089
IX-12 Advertising and promotionPrograms $11,884 · Management $769$12,653
IX-13 Office expensesPrograms $1 · Management $3,185$3,186
IX-14 Information technologyPrograms $18,790 · Management $10,612$29,402
IX-16 OccupancyPrograms $399,479 · Management $22,900$422,379
IX-17 TravelManagement $1,354$1,354
IX-19 Conferences, conventions and meetingsManagement $588$588
IX-22 Depreciation, depletion and amortizationPrograms $37,818 · Management $21,358$59,176
IX-24 Other expenses (24a–d)Management $3,551$3,551
IX-25 Total functional expensesPrograms $893,362 · Management $313,628 · Fundraising $0$1,206,990
Part X · Balance sheet $853,872 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $362,095$371,299
X-4 Accounts receivableStart of year $42,000$55,611
X-10c Land, buildings and equipment, netStart of year $63,886$426,962
X-15 Other assetsStart of year $14,815$0
X-16 Total assetsStart of year $520,767$853,872
X-17 Accounts payable and accrued expensesStart of year $7,191$25,666
X-25 Other liabilitiesStart of year $0$289,927
X-26 Total liabilitiesStart of year $7,191$315,593
X-27 Net assets without donor restrictionsStart of year $513,576$338,279
X-28 Net assets with donor restrictions$200,000
X-32 Total net assets or fund balancesStart of year $513,576$538,279
X-33 Total liabilities and net assetsStart of year $520,767$853,872
Part XI · Reconciliation of net assets $538,279 net assets at year end
XI-1 Total revenue$1,231,693
XI-2 Total expenses$1,206,990
XI-3 Revenue less expenses$24,703
XI-4 Net assets at start of year$513,576
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$538,279

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

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