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Nonprofiteer
← BIOHEALTH INNOVATION INC

Form 990 for tax year 2023

Filed by BIOHEALTH INNOVATION INC.

Totals

Total revenue
$4,643,952
Total expenses
$4,364,948
Contributions and grants received
$3,976,654
Grants paid
$0
Program service revenue
$667,298
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,807,113
Total liabilities, end of year
$433,052
Net assets or fund balances, end of year
$5,374,061
Program services expenses (Part IX)
$3,478,564
Management and general expenses
$436,211
Fundraising expenses
$450,173
Program service expenses (Part III)
$3,478,564

Program services were 79.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $2,861,347

  • 1e · Government grants (contributions)

    $136,576

  • 1f · All other contributions, gifts and grants

    $978,731

  • 2a · Program service revenue: Contract Revenue

    total $667,298 · related or exempt $667,298

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $523,279 · program services $354,403 · management and general $76,422 · fundraising $92,454

  • 7 · Other salaries and wages

    total $1,340,165 · program services $907,660 · management and general $195,723 · fundraising $236,782

  • 9 · Other employee benefits

    total $196,044 · program services $126,075 · management and general $30,073 · fundraising $39,896

  • 10 · Payroll taxes

    total $110,661 · program services $74,948 · management and general $16,161 · fundraising $19,552

  • 11b · Fees: legal

    total $3,600 · program services $2,484 · management and general $504 · fundraising $612

  • 11c · Fees: accounting

    total $38,238 · management and general $38,238

  • 11g · Fees: other

    total $1,606,173 · program services $1,606,173

  • 12 · Advertising and promotion

    total $124,041 · program services $99,934 · management and general $10,887 · fundraising $13,220

  • 14 · Information technology

    total $115,399 · program services $71,547 · management and general $18,464 · fundraising $25,388

  • 16 · Occupancy

    total $84,040 · program services $52,105 · management and general $13,446 · fundraising $18,489

  • 17 · Travel

    total $14,653 · program services $14,653

  • 19 · Conferences, conventions and meetings

    total $90,244 · program services $90,244

  • 23 · Insurance

    total $12,815 · program services $8,842 · management and general $1,794 · fundraising $2,179

  • 24a · Other expenses: Program Expenses

    total $64,983 · program services $64,983

  • 24b · Other expenses: Bad Debt Expense

    total $33,333 · management and general $33,333

  • 24c · Other expenses: Sponsorship and Members

    total $7,280 · program services $4,513 · management and general $1,166 · fundraising $1,601

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $507,339 · end of year $545,852

  • 4 · Accounts receivable

    beginning of year $367,250 · end of year $404,059

  • 13 · Investments: program-related

    beginning of year $450,100 · end of year $450,100

  • 15 · Other assets

    beginning of year $4,114,123 · end of year $4,407,102

  • 17 · Accounts payable and accrued expenses

    beginning of year $251,110 · end of year $264,892

  • 25 · Other liabilities

    beginning of year $93,767 · end of year $168,160

  • 27 · Net assets without donor restrictions

    beginning of year $5,093,935 · end of year $5,374,061

Mission and programs · 2023

Mission

Biohealth Innovation connects market relevant research assets to appropriate funding, management, and markets to facilitate the development of commercially viable bio health products and companies.

Activities or mission (Part I)

Connects market relevant research assets to appropriate finding, management, and markets to facilitate the development of commercially viable bio health products.

  • Entrepreneur-in-Residence/Small Business Innovative Research (SBIR): The BHI SBIR/STTR federal funding assistance offers BioHealth companies support in preparing applications for federal funding inclusive of SBIRS, STTRS, and other federal government awards. BHI's Entrepreneur-in-Residence (EIR) program is designed to be an active partner with research institutions to source, fund, and grow high-potential, early-stage products through project-focused companies. The entrepreneurs in the program support the formation of new companies based upon innovative discoveries in the areas of drugs, vaccines, therapeutics, diagnostics, and medical devices from the intramural research programs at partner organizations, as well as from universities and businesses. The EIR will find, evaluate, and support the development of new start-up companies based upon technology license agreements from technology transfer offices or equivalent units within the research institutions. Under an NIH/OTT partnership intermediary agreement, BHI will employ and place entrepreneurs-in-residence (EIR) within OTT to evaluate, identify and license intramural technologies in the areas of drugs, vaccines, therapeutics, diagnostics and medical devices from the intramural research programs at both the NIH and the Food and Drug Administration (FDA). An NIH EIR is an industry expert with scientific, entrepreneurial/managerial and financial experience who works side by side with NIH scientists to identify, evaluate and support the development of new start-up companies based upon technology license agreements from OTT. The innovate UMBC program provides applied training for post-doctoral fellows, research scientists, and other professionals who want to start life science-based companies. The program was launched in 2010 with a 3-year funding grant from the National Science Foundation (NSF). The university of Maryland, Baltimore County (UMBC) will offer the program at the universities at shady grove's campus in Montgomery County, Maryland. The program is intended for scientists interested in commercializing biomedical technology. Partners in the program are biohealth innovation, inc. And the Montgomery County department of economic development.

    Expenses $3,478,564 · Revenue $667,298

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Bendis

    President & CEO

    Total calculated
    $566,274
    From this org
    $523,278
    From related orgs
    $0
    Other
    $42,996
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,821
    Bonus
    $185,457
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $26,496
    Filer's total
    $566,274

  • Pete Briskman

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Christine Dingivan

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Charles Morton

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Dave Lemus

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Sally Allain

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jarrod Borkat

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Christopher Callaghan

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Donna Edmonds

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • William Hearl

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Juergen Klenk

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Anthony Lakavage

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Joel Marcus

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kurt Newman

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jay Perman

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • John Sackett

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Aubrey Watkins

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Srjuana Cherukuri

    Board Member (MAR-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Ronald Kurz

    Board Member (MAY-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Tyrell Rivers

    Board Member (MAY-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Raymond Blanchard

    Board Member (JUN-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Dan Mallon

    Board Member (JUN-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Aime Smart

    Board Member (AUG-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Steven Roberts

    Board Member (SEPT-DEC)

    Total calculated
    $0
    Hours/week
    2

  • Ethel Rubin

    Entrepreneur in Residence

    Total calculated
    $282,644
    From this org
    $269,185
    From related orgs
    $0
    Other
    $13,459
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,185
    Bonus
    $0
    Other
    $0
    Deferred
    $13,459
    Nontaxable benefits
    $0
    Filer's total
    $282,644

  • John Sullivan

    Entrepreneur in Residence

    Total calculated
    $243,342
    From this org
    $235,827
    From related orgs
    $0
    Other
    $7,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,827
    Bonus
    $0
    Other
    $0
    Deferred
    $7,515
    Nontaxable benefits
    $0
    Filer's total
    $243,342

  • Lynne Brisbane

    VP of Finance, Operations,

    Total calculated
    $175,828
    From this org
    $170,676
    From related orgs
    $0
    Other
    $5,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,676
    Bonus
    $0
    Other
    $0
    Deferred
    $5,152
    Nontaxable benefits
    $0
    Filer's total
    $175,828

  • Monique Bennett

    Sr. Life Science Business Strategist

    Total calculated
    $111,876
    From this org
    $108,580
    From related orgs
    $0
    Other
    $3,296
    Hours/week
    40

  • Olivia Myer

    Entrepreneur in Residence

    Total calculated
    $103,073
    From this org
    $100,043
    From related orgs
    $0
    Other
    $3,030
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
The organization provided bonus compensation to its CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BHI Management Inc

    C · Health related products · MD · 100% owned · controlled entity

    Directly controlled by BioHealth Innovation Inc

  • Relevant Health Holdings - I

    C · Health Tech Startup accelerator · MD · 70% owned · controlled entity

    Directly controlled by BioHealth Innovation Inc

Provenance

Return type
form_990
Tax year
2023
Filed
21 October 2024
IRS schema version
2023v5.1
Source object
202412959349300331

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