Overview
What is University At Albany Bioscience Development Corporation?
University At Albany Bioscience Development Corporation is a nonprofit organization based in Albany, New York, with a specific mission to acquire and hold real property for the creation of a commercial life science, research, and technology cluster. This cluster aims to foster new and technologically innovative businesses, allowing research to be translated into commercially viable high technology. The primary objective is to advance the educational and research mission of the State University of New York (SUNY) and the State University of New York at Albany by offering facilities for science research and scholarly programs, thereby attracting public and private funds to further research and scholarly studies. The corporation serves as a platform for faculty, visiting scholars, students, and staff to engage in cutting-edge research and collaborations, ultimately contributing to the broader scientific community.
Official website here: www.uabdc.org
Is University At Albany Bioscience Development Corporation legitimate?
University At Albany Bioscience Development Corporation is a legitimate nonprofit organization registered as a 501(c)(25) entity. University At Albany Bioscience Development 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: $0
For more financial information, click here
Official website here: www.uabdc.org
What is the mission statement of University At Albany Bioscience Development Corporation?
The University At Albany Bioscience Development Corporation's purpose is to acquire real estate and manage it to establish a commercial life science, research, and technology cluster. This environment aims to foster the growth of innovative businesses and transform research into commercially viable high technology. The corporation's objective is to support the educational and research mission of the State University of New York and the State University of New York at Albany. By acquiring and holding title to facilities, it provides a platform for science research and scholarly programs, enhancing the ability of these universities to attract both public and private funds for further research and scholarly studies.
Official website here: www.uabdc.org
Who is the CEO of University At Albany Bioscience Development Corporation?
Richard Mcginn Jr is the Executive Di of University At Albany Bioscience Development Corporation.
Official website here: www.uabdc.org
What is the revenue of University At Albany Bioscience Development Corporation?
University At Albany Bioscience Development Corporation's revenue in 2022 was $6,929,199.
Official website here: www.uabdc.org
Who are the executives of University At Albany Bioscience Development Corporation and what are their salaries?
There 7 volunteers at University At Albany Bioscience Development Corporation.
Here are 9 key members and their salaries:
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- Related: $213,585
- Other: $22,392
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- Related: $11,794
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- Other: $0
Official website here: www.uabdc.org
Where can I find the form 990 for University At Albany Bioscience Development Corporation?
University At Albany Bioscience Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.uabdc.org
Learn more at the official website: www.uabdc.org
Mission Statement of University At Albany Bioscience Development Corporation
The University at Albany Bioscience Development Corporation's mission is focused on acquiring real estate and managing its title for the purpose of establishing a commercial life science, research, and technology cluster. This cluster is intended to provide an environment where new and technologically innovative businesses can grow and translate research into commercially viable high technology. The organization aims to achieve its goals in a manner that advances the educational and research mission of the State University of New York and the State University of New York at Albany. By acquiring facilities for science research and scholarly programs, the corporation enhances the ability of these universities to attract both public and private funds for further research and scholarly studies. This mission ultimately contributes to the development and growth of these institutions, fostering a hub for innovation and scientific advancement.
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Impact
October, 2024
The University at Albany Bioscience Development Corporation plays a crucial role in fostering a vibrant commercial life sciences, research, and technology cluster in Albany, NY. By acquiring and developing real property specifically for scientific research and scholarly programs, the organization creates an environment conducive to the growth of innovative businesses. This strategic development not only supports faculty, visiting scholars, students, and staff but also enhances the capability of the University at Albany and SUNY to attract essential public and private funding for furthering critical research and scholarly initiatives.
The corporation's efforts directly contribute to advancing the educational and research mission of the State University of New York, facilitating the translation of groundbreaking research into commercially viable high-technology endeavors. This integration of academia and industry fosters collaborations that can lead to significant advancements in bioscience and related fields, ultimately benefiting the broader community and economy.
This information is meant to be a general summary of University At Albany Bioscience Development 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: $4,641
- Program Service Revenue: $6,705,402
- Gross Receipts: $6,929,199
Assets and Liabilities:
- Total Assets: $42,695,230
- Total Liabilities: $2,486,821
- Net Assets: $40,208,409
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REAL ESTATE RENTAL INCOME
Revenue
$6,705,402
Organization Details
Founding Year
2007
Phone
(518) 437-5090Principal Officer
Richard Mcginn Jr
Main Address
1400 WASHINGTON AVE UAB226, ALBANY, NY, 12222
Website
www.uabdc.orgNTEE Category
Code: S470 - Community improvement
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