The Biosimilars Forum
- Assets
- $2.6m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Ashburn, VA
- Founding
- 04/2016
- Data as of
- 12/2022
- EIN
- 81-0762544
Organization Overview
The Biosimilars Forum is located in Ashburn, VA. The organization was established in 2016. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biosimilars Forum 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, Biosimilars Forum generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 4.7% per year over the past 7 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
THE BIOSIMILARS FORUM WAS INCORPORATED IN WASHINGTON, DC, AS A NONPROFIT ORGANIZATION TO ADVANCE BIOSIMILARS IN THE UNITED STATES WITH THE INTENT OF EXPANDING ACCESS AND AVAILABILITY OF BIOLOGICAL MEDICINES, AND IMPROVING HEALTH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BIOSIMILARS FORUM PROVIDES EVIDENCE-BASED INFORMATION TO INFORM AND SUPPORT PUBLIC POLICIES THAT ENCOURAGE AWARENESS, ACCESS, AND ADOPTION OF BIOSIMILARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juliana Reed Executive Di | Officer | 40 | $0 |
Tiffany Fletcher Vice Preside | OfficerTrustee | 0.5 | $0 |
Joseph Valeriani Secretary | OfficerTrustee | 0.5 | $0 |
James Carey Treasurer | OfficerTrustee | 0.5 | $0 |
Ali Lakhani Director | Trustee | 0.5 | $0 |
Michael Penn Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Signal Group Consulting Consulting | 12/30/22 | $725,000 |
Thorn Run Partners Llc Business Con. | 12/30/22 | $450,000 |
Jreed Health Policy Strategies Executive Dir. | 12/30/22 | $344,250 |
Magnolia Innovation Market & Policy | 12/30/22 | $258,025 |
National Alliance Of Healthcare Purchaser Coalitions Research | 12/30/22 | $245,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,105,000 |
| 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 | $2,105,000 |
| Total Program Service Revenue | $0 |
| 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 | $2,105,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $434,250 |
| Fees for services: Legal | $108,383 |
| Fees for services: Accounting | $9,438 |
| Fees for services: Lobbying | $360,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $831,718 |
| Advertising and promotion | $252,750 |
| Office expenses | $920 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $403,268 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,590 |
| All other expenses | $0 |
| Total functional expenses | $2,419,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $798,857 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,650,000 |
| 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 | $140,000 |
| 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 | $2,588,857 |
| Accounts payable and accrued expenses | $420 |
| Grants payable | $0 |
| Deferred revenue | $2,200,000 |
| 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 | $2,200,420 |
| Net assets without donor restrictions | $388,437 |
| 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 | $2,588,857 |