Life Science Cares Inc
- Assets
- $11.1m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 30
- Location
- Cambridge, MA
- Founding
- 07/2016
- Data as of
- 12/2023
- EIN
- 81-2435939
Organization Overview
Life Science Cares Inc is located in Cambridge, MA. The organization was established in 2016. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Medical Research and related organizations. As of 12/2023, Life Science Cares Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Science Cares 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 12/2023, Life Science Cares Inc generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 42.2% each year . All expenses for the organization totaled $9.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Life Science Cares Inc has awarded 362 individual grants totaling $16,155,904. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LIFE SCIENCE CARES ACTIVATES THE FINANCIAL AND HUMAN CAPITAL OF THE LIFE SCIENCES INDUSTRY AND PARTNERS WITH NONPROFITS TO DISRUPT THE CYCLE OF POVERTY AND INEQUALITY IN OUR COMMUNITIES. LSC SERVES NOT ONLY AS A GRANT-MAKING ORGANIZATION, BUT ALSO A COMMITTED COMMUNITY PARTNER, ENGAGING TO HELP SOLVE SOCIETAL PROBLEMS THROUGH A COMBINATION OF VOLUNTEERISM AND THOUGHT PARTNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICE ORGANIZATION SUPPORT: LIFE SCIENCE CARES, INC. PROVIDES HUMAN CAPITAL, IN-KIND DONATIONS AND FINANCIAL RESOURCES (DONATIONS / GRANTS) TO LOCAL PARTNER SERVICE ORGANIZATIONS THAT HAVE THE SAME COMMON GOAL, TO HELP FIGHT POVERTY IN THE SURROUNDING COMMUNITY.ANNUAL GRANTMAKING: LSC PROVIDES GRANTS TO CAREFULLY VETTED, LOCAL NONPROFIT ORGANIZATIONS DOING CRITICAL WORK THAT BEST ALIGNS WITH OUR FOCUS AREAS. BASIC NEEDS - ACCESS TO FOOD, HEALTHCARE, MENTAL HEALTH SERVICES, AND SAFE SHELTER EDUCATION - ACCESS TO LEARNING CRITICAL SKILLS IN SCHOOL, STEM PROGRAMS, AND HIGHER EDUCATION OPPORTUNITY - ACCESS TO JOBS AND MENTORSHIP, HELPING VULNERABLE ADULTS TO EARN A LIVING WAGE HEALTH EQUITY - INNOVATIVE, COMMUNITY-BASED SOLUTIONS THAT IMPROVE HEALTH OUTCOMES AND FOSTER VIBRANT, RESILIENT COMMUNITIESCOMMUNITY ENGAGEMENT: LSC BUILDS DEEP RELATIONSHIPS WITH GRANTEES AND CONTRIBUTES SERVICE VIA VOLUNTEERISM. THE ORGANIZATION WORKS CLOSELY WITH CORPORATE PARTNERS TO CREATE COMMUNITY ENGAGEMENT PLANS FOR STAFF.THOUGHT PARTNERSHIP: LSC HELPS TO BRING BIG IDEAS TO LIFE THROUGH ACTIVE THOUGHT PARTNERSHIP AMONGST INDUSTRY LEADERS, NONPROFIT PARTNERS, AND OUR STRATEGIC FUNDRAISING EFFORTS.BUILDING EQUITY: LSC'S PROGRAMS AIM TO BUILD EQUITY IN OUR COMMUNITIES. PROJECT ONRAMP CONNECTS UNDER-RESOURCED COLLEGE STUDENTS WITH PAID SUMMER INTERNSHIPS IN THE LIFE SCIENCES, HELPING TO BRIDGE THE OPPORTUNITY GAP FOR PROMISING YOUNG PEOPLE. THE ORGANIZATION PARTNERS WITH BIOTECH AND PHARMA COMPANIES, ALLOWING STUDENTS TO ACCESS RELEVANT WORK EXPERIENCE, EXPLORE CAREER PATHS, AND BUILD NETWORKS.ONE-TO-ONE - A CURATED NETWORKING PLATFORM THAT SUPPORTS UNDER-RESOURCED STUDENTS AND JOB SEEKERS TO BUILD SOCIAL CAPITAL WITHIN THE INDUSTRY.SINCE ITS FOUNDING IN 2016, LSC HAS PARTNERED WITH LIFE SCIENCE COMPANIES ACROSS THE COUNTRY AND MADE GRANTS TO MANY DESERVING NONPROFITS. "CARING ACTIVELY" MAKES A DIFFERENCE AND INCLUDES SIGNIFICANT FINANCIAL SUPPORT FROM MANY LIFE SCIENCE COMPANIES, COUNTLESS VOLUNTEER HOURS COMMITTED, PLACING STUDENTS IN PAID INTERNSHIPS AND CONTRIBUTION GOODS AND SERVICES TO COMMUNITY PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Macdonald Ceo, Lsc National | Officer | 40 | $242,767 |
Aisha Baro Executive Director, Bay Area | 40 | $251,224 | |
Morgan Berman Executive Director, Philly | 40 | $183,500 | |
Leane Marchese Executive Director, San Diego | 40 | $185,471 | |
Kelly Brawn Director Of Programs, Boston | 40 | $168,323 | |
Bernadette Frias Director Of Programs, Bay Area | 40 | $155,339 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $814,469 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,153,197 |
| Noncash contributions included in lines 1a–1f | $40,829 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,967,666 |
| Total Program Service Revenue | $0 |
| Investment income | $129,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$144 |
| Net Income from Fundraising Events | -$141,806 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,986,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,195,241 |
| 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. | $290,845 |
| Compensation of current officers, directors, key employees. | $93,070 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,671,922 |
| Pension plan accruals and contributions | $66,389 |
| Other employee benefits | $205,392 |
| Payroll taxes | $236,890 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,615 |
| Fees for services: Accounting | $218,262 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $287,813 |
| Advertising and promotion | $48,075 |
| Office expenses | $5,952 |
| Information technology | $158,636 |
| Royalties | $0 |
| Occupancy | $2,151 |
| Travel | $33,738 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,529 |
| Insurance | $12,162 |
| All other expenses | $69,887 |
| Total functional expenses | $9,856,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,670,198 |
| Savings and temporary cash investments | $6,544,120 |
| Pledges and grants receivable | $1,818,991 |
| 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 | $51,832 |
| Net Land, buildings, and equipment | $10,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,095,745 |
| Accounts payable and accrued expenses | $558,108 |
| Grants payable | $1,705,000 |
| Deferred revenue | $87,000 |
| 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 | $2,350,108 |
| Net assets without donor restrictions | $7,100,347 |
| Net assets with donor restrictions | $1,645,290 |
| 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 | $11,095,745 |
Grants Awarded
Over the last fiscal year, Life Science Cares Inc has awarded $5,193,815 in support to 103 organizations.
| Grant Recipient | Amount |
|---|---|
EQUATION COLLABORATIVE CORP PURPOSE: DONATION TO ASSIST THE NONPROFIT | $6,220 |
PICS PURPOSE: DONATION TO ASSIST THE NONPROFIT | $10,000 |
UNITED COMMUNITY CENTER PURPOSE: DONATION TO ASSIST THE NONPROFIT | $10,000 |
WE GOT US PURPOSE: DONATION TO ASSIST THE NONPROFIT | $10,000 |
BREAKTHROUGH PHILADELPHIA PURPOSE: DONATION TO ASSIST THE NONPROFIT | $15,000 |
BROAD STREET MINISTRY PURPOSE: DONATION TO ASSIST THE NONPROFIT | $15,000 |