Forward Biolabs Inc
- Assets
- $2.4m
- Revenue
- $828.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 03/2019
- Data as of
- 06/2023
- EIN
- 82-3817912
Organization Overview
Forward Biolabs Inc is located in Madison, WI. The organization was established in 2019. According to its NTEE Classification (U50) the organization is classified as: Biological & Life Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forward Biolabs 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 06/2023, Forward Biolabs Inc generated $828.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $608.7k during the year ending 06/2023. 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 ACCELERATE TRANSLATIONAL RESEARCH, SPARK STATE-WIDE ECONOMIC DEVELOPMENT AND CREATE JOBS THROUGH OPERATING A FULLY-SUPPORTED, STATE-OF-THE ART LABORATORY TO BE SHARED BY INNOVATIVE, EARLY-STAGE BIOTECHNOLOGY COMPANIES ASSOCIATED WITH THE UNIVERSITY OF WISCONSIN-MADISON AND OTHER LIFE-SCIENCE RESEARCH ORGANIZATIONS; TO PROVIDE EDUCATION AND MENTORING TO EARLY-STAGE, BIOTECHNOLOGY COMPANIES ENGAGED IN TRANSLATIONAL LIFE-SCIENCE RESEARCH; TO OWN, LEASE, SELL, EXCHANGE OR OTHERWISE DEAL WITH ALL PROPERTY, REAL AND PERSONAL, TANGIBLE OR INTANGIBLE, TO BE USED IN FURTHERANCE OF THESE PURPOSES. ADDITIONALLY, FORWARD BIOLABS PROVIDES EDUCATION AND MENTORING TO EARLY-STAGE, BIOTECHNOLOGY COMPANIES ENGAGED IN TRANSLATIONAL LIFE-SCIENCE RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FORWARD BIOLABS OPERATES A FULLY EQUIPPED, MAINTAINED, AND SUPPORTED LIFE SCIENCE LAB FOR EARLY-STAGE BIOTECHNOLOGY COMPANIES, AND SUPPORTIVE ENVIRONMENT FOR LIFE SCIENCE ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Martin Eckerly CEO & Secretary | OfficerTrustee | 40 | $171,252 |
Aaron Olver President | OfficerTrustee | 2 | $0 |
Robert Drape Treasurer | OfficerTrustee | 2 | $0 |
Pam Christenson Director | Trustee | 1 | $0 |
Michael Partsch Director | Trustee | 1 | $0 |
Tom Livelli Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $56,160 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,277 |
| Noncash contributions included in lines 1a–1f | $2,277 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,437 |
| Total Program Service Revenue | $658,303 |
| Investment income | $3,436 |
| 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 | $828,347 |
| 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. | $239,456 |
| Compensation of current officers, directors, key employees. | $119,728 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $110,451 |
| Pension plan accruals and contributions | $9,760 |
| Other employee benefits | $29,466 |
| Payroll taxes | $22,072 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,094 |
| Fees for services: Accounting | $18,070 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,743 |
| Advertising and promotion | $0 |
| Office expenses | $5,418 |
| Information technology | $3,454 |
| Royalties | $0 |
| Occupancy | $14,777 |
| Travel | $1,002 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $81,681 |
| Insurance | $8,051 |
| All other expenses | $227 |
| Total functional expenses | $608,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,730,294 |
| Pledges and grants receivable | $146,100 |
| Accounts receivable, net | $63,375 |
| 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 | $39,726 |
| Net Land, buildings, and equipment | $457,469 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,436,964 |
| Accounts payable and accrued expenses | $79,177 |
| 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 | $0 |
| Total liabilities | $79,177 |
| Net assets without donor restrictions | $2,211,687 |
| Net assets with donor restrictions | $146,100 |
| 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 | $2,436,964 |