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← BIOTECHNOLOGY INCUBATOR AT NYMC INC

Form 990 for tax year 2022

Filed by BIOTECHNOLOGY INCUBATOR AT NYMC INC.

Totals

Total revenue
$389,283
Total expenses
$167,137
Contributions and grants received
$107,135
Grants paid
$0
Program service revenue
$282,148
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,958,931
Total liabilities, end of year
$21,100
Net assets or fund balances, end of year
$1,937,831
Program services expenses (Part IX)
$125,959
Management and general expenses
$37,627
Fundraising expenses
$3,551
Program service expenses (Part III)
$125,959

Program services were 75.4% 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.

  • 1e · Government grants (contributions)

    $107,135

  • 2a · Program service revenue: INCUBATOR PROGRAMS

    total $282,148 · related or exempt $282,148

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $93,617 · program services $71,751 · management and general $19,827 · fundraising $2,039

  • 8 · Pension plan contributions

    total $534 · program services $267 · management and general $267

  • 9 · Other employee benefits

    total $14,126 · program services $10,882 · management and general $2,864 · fundraising $380

  • 10 · Payroll taxes

    total $5,501 · program services $4,316 · management and general $1,062 · fundraising $123

  • 11g · Fees: other

    total $39,395 · program services $27,971 · management and general $10,636 · fundraising $788

  • 13 · Office expenses

    total $590 · program services $419 · management and general $159 · fundraising $12

  • 14 · Information technology

    total $1,585 · program services $1,125 · management and general $428 · fundraising $32

  • 16 · Occupancy

    total $6,190 · program services $4,395 · management and general $1,671 · fundraising $124

  • 19 · Conferences, conventions and meetings

    total $495 · program services $351 · management and general $134 · fundraising $10

  • 24a · Other expenses: SUPPLIES

    total $2,959 · program services $2,959

  • 24b · Other expenses: MEMBERSHIP DUES

    total $2,145 · program services $1,523 · management and general $579 · fundraising $43

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $1,745,060 · end of year $1,958,931

  • 25 · Other liabilities

    beginning of year $29,375 · end of year $21,100

  • 27 · Net assets without donor restrictions

    beginning of year $1,715,685 · end of year $1,937,831

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THE PURPOSE IS TO STIMULATE THE ESTABLISHMENT AND GROWTH OF BIOTECHNOLOGY START-UP COMPANIES AND TO INCREASE THE NUMBER OF THRIVING COMPANIES ORIGINATING AND DEVELOPING WITHIN WESTCHESTER COUNTY AND THE LOWER HUDSON VALLEY AREA. (SEE SCHEDULE O)

Activities or mission (Part I)

TO STIMULATE THE ESTABLISHMENT AND GROWTH OF NUMEROUS BIOTECHNOLOGY START-UP COMPANIES.

  • TECHNOLOGY INCUBATOR: DIRECT BUSINESS DEVELOPMENT ASSISTANCE, PROFESSIONAL NETWORK AND RELATIONSHIP SUPPORT, EDUCATIONAL PROGRAMS AND FACILITY BASED SERVICES.

    Expenses $125,959 · Revenue $282,148

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Edward C Halperin

    CHANCELLOR OF HEALTH AFF & CEO

    Total calculated
    $690,233
    From this org
    $0
    From related orgs
    $628,684
    Other
    $61,549
    Hours/week
    0.1 + 34.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $549,374 related
    Bonus
    $0 + $55,000 related
    Other
    $0 + $24,310 related
    Deferred
    $0 + $27,240 related
    Nontaxable benefits
    $0 + $34,309 related
    Filer's total
    $0 + $690,233 related

  • Robert W Amler

    DEAN SHSP

    Total calculated
    $447,854
    From this org
    $0
    From related orgs
    $415,414
    Other
    $32,440
    Hours/week
    0.1 + 34.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $370,235 related
    Bonus
    $0 + $18,500 related
    Other
    $0 + $26,679 related
    Deferred
    $0 + $29,070 related
    Nontaxable benefits
    $0 + $3,370 related
    Filer's total
    $0 + $447,854 related

  • Alan Kadish

    PRESIDENT, CEO & TRUSTEE

    Total calculated
    $1,313,006
    From this org
    $0
    From related orgs
    $1,044,121
    Other
    $268,885
    Hours/week
    0.1 + 34.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,044,121 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $95,250 related
    Nontaxable benefits
    $0 + $173,635 related
    Filer's total
    $0 + $1,313,006 related

  • Howard Baruch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • Nicholas Janiga

    LEGAL COUNSEL

    Total calculated
    $376,109
    From this org
    $0
    From related orgs
    $303,646
    Other
    $72,463
    Hours/week
    0.1 + 34.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $298,346 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $300 related
    Deferred
    $0 + $28,460 related
    Nontaxable benefits
    $0 + $44,003 related
    Filer's total
    $0 + $376,109 related

  • Salomon Amar

    MEDICAL DIRECTOR

    Total calculated
    $669,595
    From this org
    $0
    From related orgs
    $561,830
    Other
    $107,765
    Hours/week
    0.1 + 34.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $541,330 related
    Bonus
    $0
    Other
    $0 + $20,500 related
    Deferred
    $0 + $23,087 related
    Nontaxable benefits
    $0 + $84,678 related
    Filer's total
    $0 + $669,595 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
NONQUALIFIED DEFERRED COMPENSATION PLAN THE PRESIDENT PARTICIPATES IN A 457(F) DEFERRED COMPENSATION PLAN; AMOUNTS IN COLUMN (C) INCLUDE A DEFERRAL OF $59,500.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • TOURO SPEECH AND HEARING CLINIC INC

    C · INACTIVE · NY · controlled entity

  • TOURO FOUNDATION CORPORATION

    C · INACTIVE · NY · controlled entity

  • TOURO UNIVERSITY FOUNDATION

    C · INACTIVE · CA · controlled entity

  • TOURO COLLEGE FOUNDATION FOR JEWISH STUDIES

    C · INACTIVE · NY · controlled entity

  • TOURO UNIVERSITY MEDICAL ASSOCIATES

    C · HEALTH CARE · CA · controlled entity

  • TOURO COLLEGE OF DENTAL MEDICINE FACULTY PRACTICE CORPORATION

    C · HEALTH CARE · NY · controlled entity

  • SPEECH LANGUAGE PATHOLOGY PC

    C · HEALTH CARE · NY · controlled entity

  • LOVELACE SCIENTIFIC RESOURCES

    C · CLINICAL TRIAL RESEARCH · NM · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431369349309563

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