Overview
What is Broad Hollow Bioscience Park Inc?
Broad Hollow Bioscience Park Inc, located in Farmingdale, New York, is a nonprofit organization with a primary mission to foster a conducive environment for technologically innovative businesses. They achieve this by constructing and managing specialized facilities to support a bioscience economic development program. The organization's ultimate goal is to facilitate the translation of research into commercially viable high-technology products. With a small team of three individuals, Broad Hollow Bioscience Park Inc plays a significant role in nurturing technological advancements within the bioscience sector.
Official website here: www.bioparkny.org
What are the reviews and ratings of this charity?
88% rating from Charity Navigator indicates a solid level of performance for Broad Hollow Bioscience Park Inc, earning it a Three-Star out of Four Star rating. The organization demonstrates strong accountability and financial health, showcased by high scores in board independence and financial oversight. Its program expense ratio of 94.59% reflects a commitment to directing a significant portion of its resources towards its mission.
Strengths of the organization include a fully independent board, effective audit and oversight practices, and no evidence of asset diversion. However, the nonprofit has some gaps in governance practices, notably the absence of a whistleblower policy and document retention protocols. These missing policies could pose risks in terms of transparency and accountability.
Despite these limitations, Broad Hollow Bioscience Park Inc appears to be managing its finances effectively and prioritizing its programmatic efforts. Stakeholders may want to engage with the organization to encourage the development of the absent governance policies, which could further enhance its operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Broad Hollow Bioscience Park Inc legitimate?
Broad Hollow Bioscience Park Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Broad Hollow Bioscience Park Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $154,508
Professional Fundraising Fees: $0
Other Salaries and Wages: $227,093
For more financial information, click here
Official website here: www.bioparkny.org
What is the mission statement of Broad Hollow Bioscience Park Inc?
Broad Hollow Bioscience Park Inc's mission is centered around fostering a conducive environment for technologically innovative businesses. Their primary objective is to cultivate and enhance these businesses, as well as translate research into commercially viable high-technology products. The organization operates specialized facilities to support a bioscience economic development program. The ultimate goal is to provide rental spaces for these innovative businesses, thus facilitating their growth and development.
Official website here: www.bioparkny.org
Who is the CEO of Broad Hollow Bioscience Park Inc?
Dan Polner is the Fmr Exec Dir of Broad Hollow Bioscience Park Inc.
Official website here: www.bioparkny.org
What is the revenue of Broad Hollow Bioscience Park Inc?
Broad Hollow Bioscience Park Inc's revenue in 2022 was $2,252,688.
Official website here: www.bioparkny.org
Who are the executives of Broad Hollow Bioscience Park Inc and what are their salaries?
The average compensation at Broad Hollow Bioscience Park Inc during 2022 was $127,200. There are 3 employees and 10 volunteers at Broad Hollow Bioscience Park Inc.
Here are 13 key members and their salaries:
- Compensation: $169,796
- Related: $0
- Other: $56,054
- Compensation: $115,852
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- Other: $38,298
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Official website here: www.bioparkny.org
Where can I find the form 990 for Broad Hollow Bioscience Park Inc?
Broad Hollow Bioscience Park Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bioparkny.org
Learn more at the official website: www.bioparkny.org
Mission Statement of Broad Hollow Bioscience Park Inc
Broad Hollow Bioscience Park Inc is committed to constructing and managing specialized facilities that support the growth of a bioscience economic development program. Their mission is to foster an environment where technologically innovative businesses can flourish, allowing research to be transformed into commercially viable high-technology products. The organization operates by renting out these facilities to these innovative businesses, providing them with a conducive setting to develop and grow. By doing so, Broad Hollow Bioscience Park Inc contributes to the advancement of the bioscience sector, encouraging the translation of groundbreaking research into commercially successful products.
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Impact
July, 2024
Broad Hollow Bioscience Park Inc's impact lies in its mission to create, develop, and operate an environment in which technologically innovative businesses can thrive and research can be translated into commercially viable high technology. By building and operating specialized facilities to support a bioscience economic development program, this organization plays a vital role in fostering technological innovation and driving economic growth in Farmingdale, NY. Through the rental of facilities provided to these businesses, Broad Hollow Bioscience Park Inc contributes to the creation of a supportive ecosystem for startups and established companies in the bioscience sector, ultimately leading to community improvement and advancement in high technology industries.
This information is meant to be a general summary of Broad Hollow Bioscience Park Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,688,545
- Program Service Revenue: $506,274
- Gross Receipts: $6,683,506
Assets and Liabilities:
- Total Assets: $26,111,228
- Total Liabilities: $604,639
- Net Assets: $25,506,589
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL/RESEARCH FACILITY
Revenue
$506,274
Organization Details
Founding Year
1998
Phone
(631) 227-0955Principal Officer
Dan Polner
Main Address
PO BOX 176, FARMINGDALE, NY, 11735
Website
www.bioparkny.orgNTEE Category
Code: S40 - Community improvement
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