Biodesign Challenge Inc
- Assets
- $579.6k
- Revenue
- $478.6k
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 83-2384405
Organization Overview
Biodesign Challenge Inc is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Biodesign Challenge Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biodesign Challenge 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, Biodesign Challenge Inc generated $478.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $414.0k during the year ending 12/2023. 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 BRING ARTISTS, DESIGNERS AND BIOLOGISTS TOGETHER TO PRODUCE COLLABORATIVE PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGHOUT THE SPRING, OUR ORGANIZERS WORK WITH HIGH SCHOOL AND COLLEGE TEACHERS TO DESIGN CURRICULA; PARTNER PARTICIPATING CLASSROOMS WITH EXPERT MENTORS IN STEM, ART, AND DESIGN; AND SUPPORT STUDENTS WITH RESOURCES AND MENTORSHIP AS THEY DEVELOP THEIR PROJECTS. EACH JUNE, PARTICIPANTS AND THE GENERAL PUBLIC GATHER AT OUR ANNUAL SUMMIT WHERE STUDENTS SHOWCASE THEIR RESEARCH AND PROTOTYPES IN FRONT OF AN ESTEEMED JURY MADE UP OF INDUSTRY AND ACADEMIA PROFESSIONALS FROM AROUND THE WORLD. ALUMNI OF THE PROGRAM ENTER THE WORKFORCE WITH A DEEP ETHOS IN INTERDISCIPLINARY COLLABORATION, ENVIRONMENTALLY-FOCUSED DESIGN, AND EQUITY-CENTERED SYSTEMS DESIGN. TEAMS PROTOTYPE NEW IDEAS IN MEDICINE, TEXTILES, BEAUTY, FOOD, MANUFACTURING, AND MORE. BIODESIGN CHALLENGE BRIDGES ART, DESIGN, AND BIOTECH TO HELP DEVELOP THE FIRST GENERATION OF PROFESSIONALS THAT CROSS DISCIPLINES, ANTICIPATE PROMISES AND PITFALLS, AND ENGAGE THE PUBLIC IN DIALOGUE ABOUT THE BROADER IMPLICATIONS OF EMERGING BIOTECH.AS PART OF OUR SUPPORT FOR PARTICIPANTS, WE CONNECT TEAMS WITH OPPORTUNITIES WITH MUSEUMS, GALLERIES, INVESTORS, AND ACCELERATOR PROGRAMS. THROUGH THESE CONNECTIONS PROJECTS HAVE BOTH EVOLVED INTO STARTUP COMPANIES AND EXHIBITS AT VENUES AROUND THE WORLD, INCLUDING LONDON DESIGN FESTIVAL, MUSEUM OF MODERN ART, DUTCH DESIGN WEEK, NYCXDESIGN, MIT MEDIA LAB, TECH MUSEUM OF INNOVATION, RISD BIODESIGN EXHIBITION, FIT MUSEUM, THE GREGG, AMONG OTHERS. TEAMS HAVE ALSO GONE ON TO WIN PRESTIGIOUS PRIZES LIKE THE NATIONAL GEOGRAPHIC CHASING GENIUS AWARD AND INTERNATIONAL BIOART AND DESIGN AWARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Deluca Director | Trustee | 2 | $0 |
Orkan Telhan President | OfficerTrustee | 2 | $0 |
Alison Irvine Treasurer | Trustee | 1 | $0 |
Nathan Allen Director | Trustee | 1 | $0 |
Daniel Grushkin Former Executive Director | Officer | 40 | $85,560 |
Veena Vijayakumar Executive Director | Officer | 40 | $77,479 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $401,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $401,618 |
| Total Program Service Revenue | $68,576 |
| Investment income | $8,370 |
| 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 | $478,564 |
| 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. | $163,039 |
| Compensation of current officers, directors, key employees. | $14,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,679 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,675 |
| Payroll taxes | $17,610 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,423 |
| Advertising and promotion | $2,253 |
| Office expenses | $10,265 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,450 |
| Travel | $12,162 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $414,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $579,618 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| 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 | $579,618 |
| Accounts payable and accrued expenses | $13,302 |
| Grants payable | $0 |
| Deferred revenue | $59,350 |
| 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 | $72,652 |
| Net assets without donor restrictions | $324,266 |
| Net assets with donor restrictions | $182,700 |
| 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 | $579,618 |