Biobat Inc
- Assets
- $27.6m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Brooklyn, NY
- Founding
- 01/2014
- Data as of
- 06/2021
- EIN
- 45-3533828
Organization Overview
Biobat Inc is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Biobat Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biobat Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Biobat Inc generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $3.0m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP SPACE FOR NEW & GROWING BIOPHARM TECH COMPANIES TO CREATE A 21ST CENTURY WORKING WATERFRONT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BIOBAT HOLDS A LEASE INTEREST IN A PORTION OF THE BROOKLYN ARMY TERMINAL AND IS COMMITTED TO CREATING A 21ST CENTURY WORKING WATERFRONT. THUS FAR GOVERNMENT FUNDING HAS ALLOWED BIOBAT TO ACQUIRE, MAINTAIN AND DEVELOP THIS LEASEHOLD INTEREST, AS WELL AS DEVELOP SPACE FOR INNOVATIVE COMPANIES TO APPLY FOR OCCUPANCY AND ENTER INTO LEASES FOR SPACE. BY PROVIDING THESE FACILITIES AND RELATED SUPPORT FOR THE APPLICATION, EXPANSION AND COMMERCIALIZATION OF BIOTECHNOLOGY, LIFE SCIENCES, AND HARD SCIENCES RESEARCH AT THE BROOKLYN ARMY TERMINAL, BIOBAT FULFILLS ITS MISSION. THE DEVELOPMENT OF THE SPACE AT BIOBAT IS BEING DONE IN PHASES. PHASE I IS COMPLETE AND FULLY OCCUPIED. PHASE II IS IN DEVELOPMENT, WITH ONE CURRENT TENANT AND 60,000 SQUARE FEET OF SPACE READY FOR DEVELOPMENT. BIOBAT IS IN NEGOTIATIONS WITH SEVERAL POTENTIAL TENANTS TO LEASE THE REMAINDER OF THE SPACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Gambrell Secretary | OfficerTrustee | 1 | $0 |
Dr Wayne Riley MD Chair | OfficerTrustee | 1 | $0 |
Julie Stein Vice Chair | OfficerTrustee | 1 | $0 |
Kathleen Otto Executive Director (former) | Officer | 55 | $0 |
A Jeffrey Rosen Treasurer (current) | Officer | 1 | $0 |
David Norton Executive Director (current) | Officer | 55 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eagle Interiors Inc Construction And Cleaning | 6/29/16 | $158,833 |
Colliers International Holding Co Real Estate Services | 6/29/16 | $135,489 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $975,610 |
| 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 | $975,610 |
| Total Program Service Revenue | $2,863,220 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,841,164 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $259,862 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,242 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,200 |
| Advertising and promotion | $1,422 |
| Office expenses | $8,671 |
| Information technology | $8,170 |
| Royalties | $0 |
| Occupancy | $811,150 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $199 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $691,572 |
| Insurance | $129,704 |
| All other expenses | $473 |
| Total functional expenses | $3,047,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,835,904 |
| Savings and temporary cash investments | $306,846 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $356,411 |
| 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 | $237,773 |
| Net Land, buildings, and equipment | $21,466,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,372,396 |
| Total assets | $27,575,878 |
| Accounts payable and accrued expenses | $187,132 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $262,729 |
| Total liabilities | $449,861 |
| Net assets without donor restrictions | $27,126,017 |
| 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 | $27,575,878 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |