Skip to content
Nonprofiteer
← BIOCON INC

Form 990 for tax year 2024

Filed by BIOCON INC.

Totals

Total revenue
$4,649,455
Total expenses
$4,130,474
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$4,649,455
Total assets, end of year
$30,182,299
Total liabilities, end of year
$25,023,653
Net assets or fund balances, end of year
$5,158,646
Program services expenses (Part IX)
$2,115,366
Management and general expenses
$2,015,108
Fundraising expenses
$0
Program service expenses (Part III)
$2,115,366

Program services were 51.2% 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.

  • 6a · Gross rents

    real property $4,649,455

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $4,649,455

  • 6d · Net rental income or loss

    total $4,649,455 · excluded $4,649,455

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $611,604 · management and general $611,604

  • 16 · Occupancy

    total $533,157 · management and general $533,157

  • 20 · Interest

    total $1,077,473 · program services $1,077,473

  • 22 · Depreciation, depletion and amortization

    total $777,809 · management and general $777,809

  • 23 · Insurance

    total $90,215 · management and general $90,215

  • 24a · Other expenses: TAXES

    total $1,037,893 · program services $1,037,893

  • 24b · Other expenses: BANK FEE

    total $2,323 · management and general $2,323

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $741,096 · end of year $1,125,056

  • 9 · Prepaid expenses and deferred charges

    beginning of year $188,892 · end of year $180,974

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

    $36,485,334

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

    $11,076,324

  • 10c · Land, buildings and equipment, net

    beginning of year $25,664,021 · end of year $25,409,010

  • 15 · Other assets

    beginning of year $3,456,655 · end of year $3,467,259

  • 17 · Accounts payable and accrued expenses

    beginning of year $87,955 · end of year $102,027

  • 23 · Secured mortgages and notes payable

    beginning of year $14,265,494 · end of year $13,434,311

  • 25 · Other liabilities

    beginning of year $11,057,550 · end of year $11,487,315

  • 27 · Net assets without donor restrictions

    beginning of year $4,639,665 · end of year $5,158,646

Mission and programs · 2024

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

BIOCON INC. (BIO) IS THE PARENT HOLDING COMPANY FOR THE MUSCULOSKELETAL TRANSPLANT FOUNDATION.

  • SEE SCHEDULE O.

    Expenses $2,115,366

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William W Tomford MD

    DIRECTOR

    Total calculated
    $75,000
    From this org
    $0
    From related orgs
    $75,000
    Other
    $0
    Hours/week
    0 + 4 related

  • Donald Hackbarth MD

    DIRECTOR

    Total calculated
    $35,000
    From this org
    $0
    From related orgs
    $35,000
    Other
    $0
    Hours/week
    0 + 1 related

  • Joseph D Zuckerman MD

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $0
    From related orgs
    $30,000
    Other
    $0
    Hours/week
    0 + 1 related

  • Symeria T Hudson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Joseph A Buckwalter MD

    DIRECTOR

    Total calculated
    $27,500
    From this org
    $0
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    0 + 1 related

  • Sharon Gabrielson

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $0
    From related orgs
    $25,000
    Other
    $0
    Hours/week
    0 + 1 related

  • Allan Gross MD

    NON-VOTING DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Gerald Finerman MD

    NON-VOTING DIRECTOR

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Joseph A Yaccarino

    PRESIDENT / CEO

    Total calculated
    $958,758
    From this org
    $0
    From related orgs
    $901,884
    Other
    $56,874
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $740,000 related
    Bonus
    $0 + $138,480 related
    Other
    $0 + $23,404 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $36,174 related
    Filer's total
    $0 + $958,758 related

  • Michael J Kawas

    TREASURER / CFO

    Total calculated
    $697,388
    From this org
    $0
    From related orgs
    $661,023
    Other
    $36,365
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $571,170 related
    Bonus
    $0 + $82,030 related
    Other
    $0 + $7,823 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $15,665 related
    Filer's total
    $0 + $697,388 related

  • Jennifer Birmingham

    SECRETARY / GENERAL COUNSEL

    Total calculated
    $533,939
    From this org
    $0
    From related orgs
    $477,283
    Other
    $56,656
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $412,553 related
    Bonus
    $0 + $64,730 related
    Other
    $0
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $35,956 related
    Filer's total
    $0 + $533,939 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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION 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.

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.

Disregarded entities

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

  • MAY STREET MEDICAL LLC

    REAL ESTATE RENTAL · DE · income $2,565,043 · assets $13,265,830

    Directly controlled by BIOCON

  • OLYPHANT LLC

    REAL ESTATE RENTAL · DE · income $523,666 · assets $3,378,568

    Directly controlled by BIOCON

  • JESSUPPRTB LLC

    REAL ESTATE RENTAL · PA · income $285,419 · assets $2,188,404

    Directly controlled by BIOCON

  • JESSUP III LLC

    REAL ESTATE RENTAL · PA · income $1,275,327 · assets $13,762,867

    Directly controlled by BIOCON

  • MTF INNOVATIONS LLC

    THE LLC WILL ADVISE AND MANAGE PARTNER ENTITIES AS NEW TECHNOLOGIES COME TO · NJ · income $0 · assets $0

    Directly controlled by BIOCON

Related corporations and trusts

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

  • DEUTSCHES INSTITUT FUR ZELL-UND

    C · SEE PT VII · GM · 100% owned · share of income $1,524,761 · share of assets $24,768,271 · controlled entity

    Directly controlled by BIOCON

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349303575

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.