Delaware Bioscience Association Inc
- Assets
- $1.5m
- Revenue
- $817.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Wilmington, DE
- Founding
- 06/2006
- Data as of
- 12/2022
- EIN
- 20-4147195
Organization Overview
Delaware Bioscience Association Inc is located in Wilmington, DE. The organization was established in 2006. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Delaware Bioscience Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Bioscience Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Delaware Bioscience Association Inc generated $817.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $448.6k during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND STRENGTHEN THE BIOSCIENCE INDUSTRY IN THE STATE OF DELAWARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DELAWARE BIOSCIENCE ASSOCIATION IS A MEMBER-FOCUSED, NOT-FOR-PROFIT TRADE ORGANIZATION, WITH THE MISSION OF CATALYZING A THRIVING LIFE SCIENCE LANDSCAPE IN DELAWARE. DURING 2022, THE DELAWARE BIOSCIENCE ASSOCIATION:1. PROVIDED HIGH-TOUCH, STRATEGIC MEMBER AND COMMUNITY SUPPORT AND CONNECTIONS TO DRIVE BUSINESS AND ECONOMIC GROWTH, STARTUP COMPANY SUCCESS, RESEARCH FUNDING, WORKFORCE DEVELOPMENT AND INVESTMENT IN MAJOR NEW PROJECTS2. HOSTED HIGH-QUALITY, WELL-ATTENDED EVENTS ON KEY LIFE SCIENCE TOPICS AND ISSUES3. WELCOMED NEW BOARD MEMBERS4. GREW MEMBERSHIP5. ENGAGED WITH AND EDUCATED KEY STAKEHOLDERS AND POLICYMAKERS ON THE VALUE AND IMPACT OF DELAWARE'S LIFE SCIENCE SECTOR AND ADVOCATED FOR PROPOSALS TO SUPPORT INNOVATIVE RESEARCH, SECTOR GROWTH AND SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Fleming President | OfficerTrustee | 45 | $230,000 |
Christopher Yochim Chairman | OfficerTrustee | 1 | $0 |
J Michael Bowman Treasurer | OfficerTrustee | 1 | $0 |
Philip D Amoa Secretary | OfficerTrustee | 1 | $0 |
Helen Stimson Immediate Past President | OfficerTrustee | 1 | $0 |
Bryan Fisher Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $258,065 |
| Fundraising events | $203,422 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $553,987 |
| Total Program Service Revenue | $317,212 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$53,679 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $817,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,809 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $253,501 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,141 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,489 |
| Advertising and promotion | $4,566 |
| Office expenses | $7,335 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,536 |
| Travel | $16,820 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,445 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,598 |
| All other expenses | $0 |
| Total functional expenses | $448,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,366,149 |
| Pledges and grants receivable | $141,405 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,650 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,511,204 |
| Accounts payable and accrued expenses | $9,138 |
| Grants payable | $0 |
| Deferred revenue | $158,135 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $167,273 |
| Net assets without donor restrictions | $1,343,931 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,511,204 |
Grants Awarded
Over the last fiscal year, Delaware Bioscience Association Inc has awarded $80,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Dover, DE PURPOSE: SCHOLARSHIP FUND DONATION | $20,000 |
Dover, DE PURPOSE: SCHOLARSHIP FUND DONATION | $20,000 |
Newark, DE PURPOSE: SCHOLARSHIP FUND DONATION | $20,000 |
Dover, DE PURPOSE: SCHOLARSHIP FUND DONATION | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Delaware Bioscience Association Inc has recieved totaling $58,000.
| Awarding Organization | Amount |
|---|---|
We Work For Health Washington, DC PURPOSE: EDUCATION/AWARENESS RAISING COMMUNICATIONS | $50,000 |
Biotechnology Innovation Organization Washington, DC PURPOSE: SUPPORT | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Meet Ac Atlantic City, NJ | $1,297,633 | $9,877,625 |
Plumb Club Of New York State Inc Englewood, NJ | $4,015,109 | $3,124,546 |
Leadingage Pa Mechanicsburg, PA | $5,513,628 | $3,623,011 |
Hydraulic Institute Parsippany, NJ | $5,955,075 | $2,798,484 |
Investment Casting Institute Montvale, NJ | $1,572,753 | $1,511,176 |
Styrene Information And Research Center Inc Towson, MD | $1,447,485 | $1,359,270 |
Bakery Confectionery Tobacco Workers And Grain Millers Intl Uni Rutherford, NJ | $56,861 | $981,057 |
Allied Trades Assistance Program Philadelphia, PA | $2,064,188 | $990,364 |
Pennsylvania Certification Board Harrisburg, PA | $1,872,697 | $866,840 |
Maryland Automobile Dealers Association Inc Annapolis, MD | $5,415,430 | $303,685 |
Delaware Bioscience Association Inc Wilmington, DE | $1,511,204 | $817,520 |
New Jersey Conference Of Mayors Trenton, NJ | $277,298 | $377,866 |