Overview
What is Bioenterprise Corporation?
Bioenterprise Corporation is a nonprofit organization based in Cleveland, Ohio, USA, situated at 11000 Cedar Avenue, 44106. Their primary mission is to stimulate economic growth and advance public health by commercializing bioscience technologies. They accomplish this through their business formation, recruitment, and acceleration initiative, which supports the growth of healthcare companies. Bioenterprise Corporation operates a 44,000 square foot incubator, providing affordable facilities and services to biomedical entrepreneurs and start-up companies. The incubator offers wet labs, dry labs, office space, and meeting rooms catering to pharmaceutical, medical device, diagnostic information technology, and regional bioscience tenants. Additionally, it houses a specialized equipment room, offering equipment typically unavailable to start-up companies. Bioenterprise Corporation hosts regional bioscience and community meetings, aiming to foster a thriving ecosystem for bioscience innovation.
Official website here: www.bioenterprise.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Bioenterprise Corporation has received an 81% rating, earning it a Three-Star designation, which reflects a solid performance in accountability and finance. This score is entirely based on a single beacon score focused on these aspects, indicating a strong commitment to financial integrity and operational transparency.
The organization showcases several strengths, including a fully independent board, which demonstrates a commitment to governance and oversight. With no material diversion of assets and a high program expense ratio of 78.20%, the charity appears to allocate a significant portion of its funds directly to its programs, indicating an effective use of resources.
However, while the score is commendable, it is important to note that the overall rating stems solely from accountability and finance metrics. This may suggest that other areas such as program impact or community feedback are not captured within this evaluation, leaving some aspects of the organization's effectiveness unassessed.
This AI summary has been generated from information found on Charity Navigator.
Is Bioenterprise Corporation legitimate?
Bioenterprise Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bioenterprise Corporation 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: $72,131
For more financial information, click here
Official website here: www.bioenterprise.com
What is the mission statement of Bioenterprise Corporation?
Bioenterprise Corporation's mission is focused on fostering economic development and commercializing bioscience technologies to enhance public health. As a business formation, recruitment, and acceleration initiative, Bioenterprise Corporation aims to grow healthcare companies and improve public health through the commercialization of bioscience technologies. The organization operates a bioscience incubator, offering low-cost facilities and services to biomedical entrepreneurs and start-up companies. The incubator provides essential resources such as wet labs, dry labs, office space, and meeting rooms for pharmaceutical, medical device, and diagnostic information technology tenants. Additionally, the incubator features a special equipment room with equipment typically unavailable to start-up companies, supporting their growth and development.
Official website here: www.bioenterprise.com
Who is the CEO of Bioenterprise Corporation?
John K Lane is the Board Chair of Bioenterprise Corporation.
Official website here: www.bioenterprise.com
What is the revenue of Bioenterprise Corporation?
Bioenterprise Corporation's revenue in 2022 was $1,921,063.
Official website here: www.bioenterprise.com
Who are the executives of Bioenterprise Corporation and what are their salaries?
The average compensation at Bioenterprise Corporation during 2022 was $24,044. There are 3 employees at Bioenterprise Corporation.
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Official website here: www.bioenterprise.com
Where can I find the form 990 for Bioenterprise Corporation?
Bioenterprise Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bioenterprise.com
Learn more at the official website: www.bioenterprise.com
Mission Statement of Bioenterprise Corporation
Bioenterprise Corporation, as a business formation and acceleration initiative, is committed to fostering economic development and growing healthcare companies. Their primary mission is to commercialize bioscience technologies with the goal of improving public health. By providing low-cost facilities and services to biomedical entrepreneurs and start-up companies, Bioenterprise Corporation aims to support the growth of the healthcare sector, contributing to advancements in public health.
The organization operates a 44,000 square foot incubator, equipped with wet labs, dry labs, office space, and meeting rooms. This incubator caters to pharmaceutical, medical device, and diagnostic information technology tenants, as well as regional bioscience and community meetings. The incubator also boasts a special equipment room, offering equipment that would typically be unavailable to start-up companies, thereby providing them with a competitive edge. In essence, Bioenterprise Corporation serves as a hub for nurturing and promoting bioscience innovation, contributing to the development of new healthcare solutions and improvements in public health.
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Impact
October, 2024
Bioenterprise Corporation significantly impacts economic development and public health by fostering the commercialization of bioscience technologies. Through its 44,000 square foot incubator in Cleveland, Ohio, it provides essential low-cost facilities and services tailored for biomedical entrepreneurs and startup companies.
The incubator features specialized environments, including wet labs, dry labs, office space, and meeting rooms, which cater to tenants involved in pharmaceuticals, medical device development, and diagnostic information technology. By offering access to specialized equipment that is typically out of reach for startups, Bioenterprise enables innovative companies to develop and scale their solutions effectively.
Additionally, Bioenterprise serves as a hub for regional bioscience and community meetings, fostering collaboration and knowledge-sharing among industry stakeholders. Through these initiatives, it plays a vital role in growing healthcare companies and enhancing public health outcomes.
This information is meant to be a general summary of Bioenterprise Corporation. 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: $874,067
- Program Service Revenue: $487,991
- Gross Receipts: $1,921,063
Assets and Liabilities:
- Total Assets: $2,389,424
- Total Liabilities: $1,526,074
- Net Assets: $863,350
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCUBATOR REVENUE
Revenue
$487,991
Organization Details
Founding Year
2000
Phone
(216) 658-3999Principal Officer
John K Lane
Main Address
11000 CEDAR AVENUE, CLEVELAND, OH, 44106
Website
www.bioenterprise.comNTEE Category
Code: S41 - Community improvement
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