Bioscience Los Angeles County Inc
- Assets
- $2.8m
- Revenue
- $749.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Culver City, CA
- Founding
- 08/2019
- Data as of
- 12/2022
- EIN
- 83-2720515
Organization Overview
Bioscience Los Angeles County Inc is located in Culver City, CA. The organization was established in 2019. According to its NTEE Classification (U01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Bioscience Los Angeles County Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bioscience Los Angeles County 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 12/2022, Bioscience Los Angeles County Inc generated $749.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (34.0%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. 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
BIOSCIENCELA'S MISSION IS TO ENSURE THAT LOS ANGELES HAS A COLLABORATIVE, WELL-COALESCED ECOSYSTEM THAT ENCOMPASSES ALL ASPECTS OF THE SOUTHERN CALIFORNIA LIFE SCIENCES CLUSTER - BIOTECHNOLOGY, PHARMACEUTICALS, MEDICAL DEVICES, MEDICAL DIAGNOSTICS, BIOINFORMATICS, HEALTHCARE IT, MEDTECH, DIGITAL HEALTH, AND MORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL ONE-STOP RESOURCE:BIOSCIENCELA WILL SERVE AS AN INDEPENDENT FOCAL POINT FOR CONNECTIVITY TO THE REGION BY EXTERNAL STAKEHOLDERS. BIOSCIENCELA WILL BE A PLACE WHERE PARTIES CAN CONNECT TO THE LOS ANGELES ECOSYSTEM, WHETHER AS CONVENER, CONCIERGE OR VISITOR CENTER. VISITING INVESTORS, COMPANIES, RESEARCHERS, ENTREPRENEURS, DEVELOPERS, VENDORS, AND OTHER ORGANIZATIONS WILL BE ABLE TO FIND INFORMATION AND CONNECT TO RESOURCES VIA BIOSCIENCELA. WE WILL ALSO ASSEMBLE AND HOST MULTI-STAKEHOLDER CONVENINGS THAT ADDRESS STRATEGIC ISSUES, POTENTIAL PARTNERSHIPS, OR NEW OPPORTUNITIES FACING THE INDUSTRY OR THE ECOSYSTEM. BIOSCIENCELA WILL ALSO ACT AS AN INTERFACE BETWEEN LA COUNTY GOVERNMENT'S BIOSCIENCE INITIATIVES AND THE PRIVATE SECTOR.
START-UP ACTIVITY:BIOSCIENCELA WILL DEPLOY SELECTED FUNDS, CAPABILITIES, TALENTS, AND RESOURCES TO ACCELERATE THE PACE OF LOCAL COMMERCIAL LIFE SCIENCES ACTIVITY, FOCUSING ESPECIALLY ON THE GROWTH AND RETENTION OF START-UP COMPANIES. WE WILL DO SO BY SUPPORTING: NEW CAPITAL FORMATION AND DEPLOYMENT TARGETING EARLY-STAGE COMPANIES; NEW COMMERCIAL LAB SPACE; INCUBATING, ACCELERATING AND COWORKING SPACES, AND OTHER INFRASTRUCTURE TO SERVE A CONSTELLATION OF THRIVING RESEARCH HUBS ACROSS THE REGION. BIOSCIENCELA ALSO WILL SUPPORT THE NETWORKING OF LOCAL ENTREPRENEURS, SCIENTISTS, MENTORS, CONSULTANTS, INVESTORS, AND OTHER PROFESSIONALS TO BETTER CONNECT SEASONED TALENT AND COACHING TO EMERGING ENTERPRISES.WORKFORCE:IN ADDITION TO GROWING THE POOL OF EXECUTIVE AND OPERATING TALENT FOR START-UPS, BIOSCIENCELA WILL BETTER ALIGN THE PUBLIC SECTOR'S WORKFORCE INVESTMENTS TO STAKEHOLDER NEEDS. BIOSCIENCELA WILL TAILOR REGIONAL WORKFORCE RESOURCES TO INDUSTRY REQUIREMENTS AND LEVERAGE THOSE RESOURCES WITH PRIVATE FUNDS AND EXPERTISE. BIOSCIENCELA MAY FUND PROGRAMS THAT INCREASE THE STEM PIPELINE, GIVE LOCAL STUDENTS DIRECT EXPOSURE TO ENTREPRENEURSHIP, AND ADD DIVERSITY TO THE LIFE SCIENCES SECTOR.
REGIONAL COLLABORATION:BIOSCIENCELA WILL FACILITATE THE FORMATION AND EXECUTION OF A SHARED VISION, STRATEGY, AND A HIGH LEVEL OF ENGAGEMENT AMONG GOVERNMENT, INDUSTRY, ACADEMIA, START-UPS, AND THE INVESTMENT COMMUNITY OF SOUTHERN CALIFORNIA. WE WILL HELP ESTABLISH A WELL-COALESCED ECOSYSTEM VIA FACILITATION, EVENTS, ENGAGEMENT, AND DELIVERY OF COORDINATING GRANTS, INVESTMENTS, AND INCENTIVES TO LOS ANGELES COUNTY STAKEHOLDERS. WE WILL ENGAGE THE REGION'S FAMILY OFFICES AND ANGEL NETWORKS TO INTEGRATE THEM INTO LIFE SCIENCES INVESTMENT OPPORTUNITIES. WE WILL HELP COMPANIES NAVIGATE THE TECH TRANSFER AND COMMERCIALIZATION PATHWAYS IN THE REGION. BIOSCIENCELA WILL ALSO PARTICIPATE AND REINFORCE EXISTING COLLABORATIONS OF COUNTYWIDE BENEFIT IN SUPPORT OF OUR VALUED STAKEHOLDERS.
BRANDING & COMMUNICATIONS: IN PARTNERSHIP WITH OTHER STAKEHOLDERS, BIOSCIENCELA WILL HELP TELL LOS ANGELES' LIFE SCIENCES STORY TO THE WORLD. FROM ITS WORLD-CLASS RESEARCH AND ENTREPRENEURIAL CULTURE TO ITS GROWING COMMERCIAL SUCCESSES, THE REGION WILL INTENTIONALLY BUILD A LIFE SCIENCES BRAND FOR LA AS AN INTERNATIONAL INNOVATION HUB. INVESTMENTS WILL BE MADE IN: DEVELOPING AND COMMUNICATING AN IDENTITY; CELEBRATING NEW DISCOVERIES, ENTREPRENEURS, AND PARTNERSHIPS; AND CALLING OUT THE REGION'S MANY INDIGENOUS LIFE SCIENCE ASSETS ACROSS A LARGE AND DIVERSE GEOGRAPHY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dina Lozofsky Director | Trustee | 1 | $0 |
Harlan Levine MD Secretary | OfficerTrustee | 1 | $0 |
Jessica Droge Director | Trustee | 1 | $0 |
Peter M Moglia Treasurer | OfficerTrustee | 5 | $0 |
Rohit Shukla Director | Trustee | 1 | $0 |
Shlomo Melmed MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $236,166 |
| All other contributions, gifts, grants, and similar amounts not included above | $250,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $486,166 |
| Total Program Service Revenue | $221,970 |
| Investment income | $5,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $35,695 |
| 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 | $749,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,900 |
| 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. | $310,765 |
| Compensation of current officers, directors, key employees. | $51,999 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $386,434 |
| Pension plan accruals and contributions | $11,881 |
| Other employee benefits | $31,871 |
| Payroll taxes | $43,363 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $75,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $178,738 |
| Advertising and promotion | $52,247 |
| Office expenses | $43,487 |
| Information technology | $28,475 |
| Royalties | $0 |
| Occupancy | $5,827 |
| Travel | $21,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,604 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,984 |
| Insurance | $7,088 |
| All other expenses | $47,030 |
| Total functional expenses | $1,574,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,077,649 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $141,850 |
| 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 | $19,343 |
| Net Land, buildings, and equipment | $517,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,755,899 |
| Accounts payable and accrued expenses | $15,496 |
| Grants payable | $0 |
| Deferred revenue | $63 |
| 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 | $15,559 |
| Net assets without donor restrictions | $2,636,390 |
| Net assets with donor restrictions | $103,950 |
| 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 | $2,755,899 |
Grants Awarded
Over the last fiscal year, Bioscience Los Angeles County Inc has awarded $21,900 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BIOTECH CONNECTION LOS ANGELES (COMMUNITY PARTNERS) PURPOSE: EVENT SPONSORSHIP | $6,000 |
THE REGENTS OF THE UNIVERSITY OF CALIFORNIA PURPOSE: EVENT SPONSORSHIP | $8,400 |
AI LA COMMUNITY INC PURPOSE: EVENT SPONSORSHIP | $7,500 |