Overview
What is Pasadena Bio Collaborative Incubator?
The Pasadena Bio Collaborative Incubator is a nonprofit organization situated in Pasadena, California, with a primary focus on fostering economic development and job creation in Southern California's biotechnology sector. They achieve this by offering educational and training opportunities for prospective employees and providing affordable incubator facilities equipped with shared resources and office space for start-up companies. The incubator's mission is to encourage the growth of an innovative biotechnology industry, thereby contributing to the region's economy and job market. The organization, with a small workforce of two individuals, is dedicated to serving the community in this capacity.
Official website here: www.pasadenabiosci.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
Pasadena Bio Collaborative Incubator has received an 81% score, reflecting a strong commitment to accountability and finance. The rating is based entirely on the Accountability & Finance metrics, which indicates that the organization is performing well in these areas. With an independent board comprising 100% independent members, the organization demonstrates a solid governance structure, earning full marks for both independent board members and size.
In terms of financial management, Pasadena Bio Collaborative shows a remarkable 98.56% program expense ratio, indicating that nearly all of its funds are directed towards its programs. Additionally, the organization has no material diversion of assets and maintains a healthy liabilities to assets ratio of 6.23%. This financial prudence, coupled with comprehensive policies for conflict resolution and document retention, showcases its commitment to transparency and effective management.
While the organization excels in accountability and finance, the low overall score suggests there may be room for improvement in other operational areas not reflected in the current metrics. Nonetheless, the high scores in critical areas provide a positive outlook on its operational integrity and mission execution.
This AI summary has been generated from information found on Charity Navigator.
Is Pasadena Bio Collaborative Incubator legitimate?
Pasadena Bio Collaborative Incubator is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pasadena Bio Collaborative Incubator 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,883
For more financial information, click here
Official website here: www.pasadenabiosci.org
What is the mission statement of Pasadena Bio Collaborative Incubator?
The Pasadena Bio Collaborative Incubator is a nonprofit organization dedicated to promoting economic development and job creation in Southern California. Its primary focus is on fostering the growth of an innovative biotechnology industry. To achieve this, the incubator offers educational and training opportunities for potential future employees, providing them with the necessary skills for the sector. Additionally, it offers cost-effective incubator facilities with shared equipment and office space for start-up companies, thereby encouraging the growth of new businesses in the field of biotechnology.
Official website here: www.pasadenabiosci.org
Who is the CEO of Pasadena Bio Collaborative Incubator?
Janice Ohta is the Director of Pasadena Bio Collaborative Incubator.
Official website here: www.pasadenabiosci.org
What is the revenue of Pasadena Bio Collaborative Incubator?
Pasadena Bio Collaborative Incubator's revenue in 2022 was $982,020.
Official website here: www.pasadenabiosci.org
Who are the executives of Pasadena Bio Collaborative Incubator and what are their salaries?
The average compensation at Pasadena Bio Collaborative Incubator during 2022 was $32,442. There are 2 employees and 9 volunteers at Pasadena Bio Collaborative Incubator.
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Official website here: www.pasadenabiosci.org
Where can I find the form 990 for Pasadena Bio Collaborative Incubator?
Pasadena Bio Collaborative Incubator's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pasadenabiosci.org
Learn more at the official website: www.pasadenabiosci.org
Mission Statement of Pasadena Bio Collaborative Incubator
The Pasadena Bio Collaborative Incubator, a nonprofit organization, is dedicated to promoting economic growth and job creation in Southern California. Their mission is centered around fostering the development of an innovative biotechnology industry. They achieve this by offering educational and training opportunities to potential future employees, empowering them with the necessary skills. Furthermore, the organization provides cost-effective incubator facilities equipped with shared equipment and office space, specifically catering to start-up companies in this field. By doing so, the Pasadena Bio Collaborative Incubator contributes to the nurturing of new businesses and the advancement of the biotechnology sector.
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Impact
October, 2024
Pasadena Bio Collaborative Incubator significantly impacts Southern California's biotechnology landscape by fostering economic development and job creation. It supports the growth of innovative biotech companies by providing cost-effective incubator facilities that include shared office space and state-of-the-art equipment. This collaborative environment lowers the barriers for start-ups, enabling them to focus on research and development without the overhead costs typically associated with establishing a lab or office.
Moreover, the incubator enhances the workforce by offering educational and training opportunities targeted at potential future employees in the biotech sector. By equipping individuals with relevant skills and knowledge, Pasadena Bio Collaborative Incubator strengthens the local talent pool, which is crucial for the sustainability and advancement of the biotechnology industry in the region.
Overall, the incubator acts as a catalyst for innovation, collaboration, and economic growth, positioning Southern California as a hub for biotechnology research and development.
This information is meant to be a general summary of Pasadena Bio Collaborative Incubator. 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: $22
- Program Service Revenue: $935,686
- Gross Receipts: $982,020
Assets and Liabilities:
- Total Assets: $1,191,292
- Total Liabilities: $111,896
- Net Assets: $1,079,396
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING INCOME
Revenue
$54,589
LABORATORY OTHER PROGRAM
Revenue
$26,344
LABORATORY RENTAL FEES
Revenue
$854,753
Organization Details
Founding Year
2002
Phone
(626) 507-8487Principal Officer
Janice Ohta
Main Address
2265 E FOOTHILL BLVD, PASADENA, CA, 91107
Website
www.pasadenabiosci.orgNTEE Category
Code: U20 - Science research
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