Federation Of American Societies For Experimental Biology
- Assets
- $19.6m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 37
- Location
- Rockville, MD
- Founding
- 11/1959
- Data as of
- 12/2022
- EIN
- 52-0700497
Organization Overview
Federation Of American Societies For Experimental Biology, operating under the name Faseb, is located in Rockville, MD. The organization was established in 1959. According to its NTEE Classification (U50) the organization is classified as: Biological & Life Sciences, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Faseb employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faseb 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 12/2022, Faseb generated $12.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $14.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE HEALTH AND WELFARE BY PROMOTING PROGRESS AND EDUCATION IN BIOLOGICAL/BIOMEDICAL SCIENCES.
Describe the Organization's Program Activity:
SCIENCE RESEARCH CONFERENCES - THE FASEB SCIENCE RESEARCH CONFERENCES ARE A SERIES OF SCIENTIFIC CONFERENCES THAT PROMOTE DIALOGUE AMONG RESEARCHERS, MANY OF WHOM ARE INDIVIDUAL MEMBERS OF FASEB MEMBER SOCIETIES, IN THE BIOLOGICAL AND BIOMEDICAL SCIENCES TO SPUR INNOVATION AND EXCHANGE KNOWLEDGE.
CORE FUNCTIONS - LEGISLATIVE AFFAIRS AND SCIENCE POLICY ACTIVITIES WITHIN THE OFFICE OF PUBLIC AFFAIRS (OPA) SUPPORT THE FEDERATION'S CORE COMPETENCY, ADVANCING RESEARCH FUNDING AND POLICIES THAT STIMULATE THE BIOLOGICAL AND BIOMEDICAL SCIENCES. THROUGH OPA'S IN-DEPTH POLICY ANALYSES, DEVELOPMENT AND EXECUTION OF LEGISLATIVE STRATEGIES, AND COMMUNICATION AND SUPPORT FOR ALL FASEB PUBLIC POLICY INITIATIVES, CORE FUNCTIONS PROVIDE THE MOST DIRECT BENEFIT TO MEMBER SOCIETIES AND THEIR INDIVIDUAL MEMBERS.
MANAGEMENT SUPPORT SERVICES - TAILORED MANAGEMENT SERVICES ARE PROVIDED TO HELP MEET THE PRECISE NEEDS OF SCIENTIFIC SOCIETIES, FROM THEIR DAY-TO-DAY ADMINISTRATION TO LONG-TERM PLANNING, AS WELL AS MEET THE FEDERATION'S STRATEGIC GOAL OF HELPING TO FACILITATE THE MISSIONS OF SCIENTIFIC SOCIETIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank J Krause Executive Director/ceo, Secretary | OfficerTrustee | 37.5 | $512,774 |
Kevin C Kregel PHD President | OfficerTrustee | 5 | $0 |
Mary-Ann Bjornsti PHD President Elect | OfficerTrustee | 5 | $0 |
Patricia L Morris PHD Imm. Past President | OfficerTrustee | 5 | $0 |
Cherie L Butts PHD Treasurer | OfficerTrustee | 5 | $0 |
Charles W Frevert DVM Scd Treasurer - Until 06/22 | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marcum Llp Consulting | 12/30/22 | $995,157 |
Virtual Logic Group Llc Technology Consultant | 12/30/22 | $779,073 |
Atlantic Images Sound Event Services Equipment Rental | 12/30/22 | $700,000 |
Aramark Sfs Catering | 12/30/22 | $583,682 |
The Marriott Hotel Services Inc Event Venue | 12/30/22 | $579,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $836,847 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,728,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,565,501 |
| Total Program Service Revenue | $10,043,220 |
| Investment income | $324,676 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$153,267 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,783,409 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,096,318 |
| Grants and other assistance to Foreign Orgs/Individuals | $924,290 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $884,334 |
| Compensation of current officers, directors, key employees. | $585,688 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,056,760 |
| Pension plan accruals and contributions | $288,775 |
| Other employee benefits | $273,369 |
| Payroll taxes | $273,293 |
| Fees for services: Management | $297,312 |
| Fees for services: Legal | $23,399 |
| Fees for services: Accounting | $713,754 |
| Fees for services: Lobbying | $185,811 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,129 |
| Fees for services: Other | $1,128,982 |
| Advertising and promotion | $160,394 |
| Office expenses | $330,643 |
| Information technology | $804,368 |
| Royalties | $0 |
| Occupancy | $251,940 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,627,003 |
| Interest | $485 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,403 |
| Insurance | $127,376 |
| All other expenses | $0 |
| Total functional expenses | $14,714,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,295,772 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $825,432 |
| Accounts receivable, net | $1,370,482 |
| 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 | $572,842 |
| Net Land, buildings, and equipment | $343,002 |
| Investments—publicly traded securities | $13,270,535 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,949,660 |
| Total assets | $19,627,725 |
| Accounts payable and accrued expenses | $1,088,607 |
| Grants payable | $0 |
| Deferred revenue | $581,241 |
| 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 | $2,059,400 |
| Total liabilities | $3,729,248 |
| Net assets without donor restrictions | $15,745,275 |
| Net assets with donor restrictions | $153,202 |
| 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 | $19,627,725 |
Grants Awarded
Over the last fiscal year, Federation Of American Societies For Experimental Biology has awarded $6,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMHPS PURPOSE: SPONSORSHIP OF CONGRESSIONAL RECEPTION | $500 |
AMERICAN ASSOCIATION FOR CANCER RESEARCH DEVELOPMENT PURPOSE: SUPPORT FOR HILL DAY | $500 |
ASSOCIATION OF AMERICAN UNIVERSITIES PURPOSE: SPONSORSHIP OF GOLDEN GOOSE AWARD | $2,500 |
FOUNDATION FOR BIOMEDICAL RESEARCH PURPOSE: SPONSORSHIP OF 2014 DEBAKEY AWARDS | $2,500 |