Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MAY ST MEDICAL -RENTAL INCOME

  total $2,426,963 · excluded $2,426,963

• 2b · Program service revenue: JIII - RENTAL INCOME

  total $627,276 · excluded $627,276

• 2c · Program service revenue: OLYPHANT - RENTAL INCOME

  total $509,103 · excluded $509,103

• 2d · Program service revenue: JESSUP - RENTAL INCOME

  total $285,420 · excluded $285,420

Functional expenses

Part IX, the statement of functional expenses.

• 13 · Office expenses

  total $2,457 · program services $2,457

• 16 · Occupancy

  total $2,601,090 · program services $2,601,090

• 22 · Depreciation, depletion and amortization

  total $592,263 · program services $592,263

• 24a · Other expenses: BANK CHARGES

  total $892 · program services $892

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $327,272 · end of year $741,096

• 9 · Prepaid expenses and deferred charges

  beginning of year $84,017 · end of year $188,892

• 10a · Land, buildings and equipment: cost or other basis

  $35,970,589

• 10b · Land, buildings and equipment: accumulated depreciation

  $10,306,568

• 10c · Land, buildings and equipment, net

  beginning of year $13,095,977 · end of year $25,664,021

• 15 · Other assets

  beginning of year $3,464,710 · end of year $3,456,655

• 17 · Accounts payable and accrued expenses

  beginning of year $42,521 · end of year $87,955

• 23 · Secured mortgages and notes payable

  beginning of year $4,570,352 · end of year $14,265,494

• 25 · Other liabilities

  beginning of year $8,371,498 · end of year $11,057,550

• 27 · Net assets without donor restrictions

  beginning of year $3,987,605 · end of year $4,639,665

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 3

BIOCON, INC., (BIO), IS THE SOLE CORPORATE MEMBER OF THE MUSCULOSKELETAL TRANSPLANT FOUNDATION, INC., (MTF). THE BOARD OF DIRECTORS AND THE OFFICERS OF BIO OVERLAPS THAT OF MTF WITH BIO HAVING THE EXCLUSIVE RIGHT TO ELECT OR APPOINT ALL MEMBERS OF THE BOARD OF DIRECTORS OF MTF. BELOW IS AN OUTLINE OF MTF'S PROCESS TO ESTABLISH COMPENSATION LEVELS FOR EXECUTIVE AND OFFICER COMPENSATION. EACH YEAR, MTF RECEIVES AND ASSESSES THE REASONABLENESS OF TOTAL COMPENSATION ARRANGEMENTS FOR THE EXECUTIVE TEAM, INCLUDING THE CEO. THE ANALYSIS INCORPORATES COMPENSATION SURVEY DATA, LAST COMPILED IN JULY 2023, FORM 990'S OF COMPANIES OF RELATED INDUSTRIES AND SIMILAR SIZE. A BLEND OF BOTH FOR-PROFIT AND NOT-FOR-PROFIT COMPANIES IS USED. EVERY THIRD YEAR (MOST RECENTLY JULY 2023), MTF RETAINS THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO ASCERTAIN AND DETERMINE THAT MTF IS PAYING AND PROVIDING A REASONABLE TOTAL COMPENSATION PACKAGE TO THEIR EXECUTIVES AND TO PROVIDE AN OPINION LETTER OF THEIR FINDINGS. COMPENSATION COMMITTEE REVIEW: MTF'S BOARD OF DIRECTORS ESTABLISHED A COMPENSATION COMMITTEE IN 1995. THE RESPONSIBILITY OF THE COMMITTEE INCLUDES THE REVIEW AND APPROVAL OF EXECUTIVE AND STAFF COMPENSATION AND BENEFITS. THE COMPENSATION COMMITTEE TYPICALLY MEETS SEMI-ANNUALLY TO REVIEW MERIT AND BONUS RECOMMENDATIONS. A COPY OF THE COMPENSATION COMMITTEE'S CHARTER, AGENDAS, MEETING MATERIALS, AND MEETING MINUTES ARE MAINTAINED.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MAY STREET MEDICAL LLC

  SEE PT VII · DE · income $2,426,963 · assets $10,602,573

  Directly controlled by BIOCON

• OLYPHANT LLC

  SEE PT VII · DE · income $509,103 · assets $3,226,818

  Directly controlled by BIOCON

• JESSUPPRTB LLC

  SEE PT VII · PA · income $285,420 · assets $2,175,005

  Directly controlled by BIOCON

• JESSUP III LLC

  SEE PT VII · PA · income $627,276 · assets $14,035,922

  Directly controlled by BIOCON

Related corporations and trusts

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

• DEUTSCHES INSTITUT FUR ZELL-UND GEWEBEERSATZ GMBH

  C CORP · SEE PT VII · GM

  Directly controlled by BIOCON