Bioforward Inc
- Assets
- $1.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Madison, WI
- Founding
- 08/1988
- Data as of
- 03/2023
- EIN
- 39-1605083
Organization Overview
Bioforward Inc is located in Madison, WI. The organization was established in 1988. According to its NTEE Classification (G92) the organization is classified as: Biomedicine & Bioengineering, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 03/2023, Bioforward Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bioforward 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 03/2023, Bioforward Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $1.4m during the year ending 03/2023. While expenses have increased by 9.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE GROWTH OF BIOHEALTH INDUSTRIES IN WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL WISCONSIN BIOSCIENCE SUMMIT CONFERENCE. THIS EVENT PROVIDES INFORMATION AND NETWORKING OPPORTUNITIES IN THE AREA OF BIOTECHNOLOGY.
TALENT INITIATIVE CAMPAIGN. RUN A DIGITAL ADVERTISING CAMPAIGN TO LET BIOHEATLH TALENT OUTSIDE OF WISCONSIN KNOW THAT WISCONSIN IS THE PLACE TO BE FOR A CAREER IN THE BIOHEALTH INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecilia Hillard Director | Trustee | 0.5 | $0 |
Edward Ladwig Director | Trustee | 0.5 | $0 |
Brad Pietz Director | Trustee | 0.5 | $0 |
Jessica Giffey Director | Trustee | 0.5 | $0 |
Thomas Lynch Director | Trustee | 0.5 | $0 |
Haiying Grunenwald Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,466,614 |
| Investment income | $10,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,476,872 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $226,041 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $395,791 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,561 |
| Payroll taxes | $43,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,923 |
| Fees for services: Accounting | $20,965 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $51,138 |
| Office expenses | $9,757 |
| Information technology | $1,338 |
| Royalties | $0 |
| Occupancy | $33,241 |
| Travel | $20,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $167,242 |
| Interest | $464 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,768 |
| Insurance | $5,479 |
| All other expenses | $25,650 |
| Total functional expenses | $1,388,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,043 |
| Savings and temporary cash investments | $1,383,768 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $232,450 |
| 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 | $11,997 |
| Net Land, buildings, and equipment | $28,832 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,770,090 |
| Accounts payable and accrued expenses | $49,091 |
| Grants payable | $0 |
| Deferred revenue | $485,140 |
| 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 | $534,231 |
| Net assets without donor restrictions | $1,235,859 |
| 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 | $1,770,090 |