Overview
What is Institute For Life Science Entrepreneurship?
The Institute for Life Science Entrepreneurship is a multidisciplinary, collaborative nonprofit organization based in Union, New Jersey. Situated on the campus of Kean University, its primary objective is to foster the translation of scientific and technological advancements into practical solutions. This mission contributes to economic development, stimulates high-skill manufacturing, and encourages wealth creation. The institute serves as a bridge between academic, industrial, and entrepreneurial resources in the New York/New Jersey metropolitan area, creating a dynamic and rapid-response enterprise for advancing basic and translational research in the life sciences. The institute, governed by a board of directors, aims to provide training and experience in entrepreneurship, contributing to an efficient and effective resource for the life sciences sector. With a workforce of six individuals, the Institute for Life Science Entrepreneurship is dedicated to accelerating innovation and driving progress in the field.
Official website here: www.ilsebio.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Institute for Life Science Entrepreneurship has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. The organization scored 100% in Accountability & Finance, indicating robust governance practices and effective management of resources.
Strengths noted in their evaluation include a fully independent board and a solid program expense ratio of 76.09%. This suggests that a significant portion of their funding is directed towards their programs, underscoring their mission-driven approach. Additionally, the organization has established comprehensive policies on conflict of interest, whistleblower protection, and document retention, further demonstrating their commitment to ethical practices.
While the rating highlights the nonprofit's strengths, the overall assessment is based solely on financial metrics, which may not fully capture the impact of its programs or community engagement. Nonetheless, the lack of any reported material diversion of assets and the presence of an audit and oversight committee reinforce a strong framework for financial integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Institute For Life Science Entrepreneurship legitimate?
Institute For Life Science Entrepreneurship is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute For Life Science Entrepreneurship 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: $264,070
Professional Fundraising Fees: $0
Other Salaries and Wages: $263,188
For more financial information, click here
Official website here: www.ilsebio.com
What is the mission statement of Institute For Life Science Entrepreneurship?
The Institute for Life Science Entrepreneurship aims to serve as a bridge, integrating the robust academic, industrial, and entrepreneurial resources within the New York/New Jersey metropolitan area. This integration is designed to create a dynamic, rapid-response enterprise that actively promotes advancements in both fundamental and translational research, as well as entrepreneurship, in the life sciences field. Structured as a non-profit, autonomous life science research institution, it operates under the guidance of a board of directors.
Official website here: www.ilsebio.com
Who is the CEO of Institute For Life Science Entrepreneurship?
Dr Keith Bostian is the President/Ceo of Institute For Life Science Entrepreneurship. The CEO's salary of Institute For Life Science Entrepreneurship is $0 and their total compensation is $0.
Official website here: www.ilsebio.com
What is the revenue of Institute For Life Science Entrepreneurship?
Institute For Life Science Entrepreneurship's revenue in 2022 was $1,059,927.
Official website here: www.ilsebio.com
Who are the executives of Institute For Life Science Entrepreneurship and what are their salaries?
The average compensation at Institute For Life Science Entrepreneurship during 2022 was $87,876. There are 6 employees and 6 volunteers at Institute For Life Science Entrepreneurship.
Here are 9 key members and their salaries (Institute For Life Science Entrepreneurship's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $97,479
- Related: $48,740
- Other: $11,045
- Compensation: $155,000
- Related: $0
- Other: $546
- Compensation: $150,000
- Related: $75,000
- Other: $159
Official website here: www.ilsebio.com
Where can I find the form 990 for Institute For Life Science Entrepreneurship?
Institute For Life Science Entrepreneurship's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ilsebio.com
Learn more at the official website: www.ilsebio.com
Mission Statement of Institute For Life Science Entrepreneurship
The Institute for Life Science Entrepreneurship serves as a bridge, integrating the exceptional academic, industrial, and entrepreneurial resources of the New York/New Jersey metropolitan area. Its mission is to establish a dynamic, rapid-response enterprise that fosters advancements in both fundamental and translational research and entrepreneurship in the life sciences. This non-profit organization, governed by a board of directors, operates as an autonomous life science research institute, contributing significantly to the field by leveraging the collective resources of its surrounding region.
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Impact
July, 2024
The Institute For Life Science Entrepreneurship serves as a gateway for integrating academic, industrial, and entrepreneurial resources in the New York/New Jersey metropolitan area to accelerate the translation of scientific and technological advances into practical solutions. By fostering collaboration and innovation, the Institute contributes to economic development, high-skill manufacturing, and wealth creation. Through its multidimensional and multidisciplinary approach, the Institute catalyzes the creation of an efficient and effective resource while providing training and experience in entrepreneurship. The Institute's focus on advancing basic and translational research in the life sciences not only drives progress in medical research but also nurtures a dynamic, rapid-response enterprise for entrepreneurship in the region.
This information is meant to be a general summary of Institute For Life Science Entrepreneurship. 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: $134
- Program Service Revenue: $588,829
- Gross Receipts: $1,059,927
Assets and Liabilities:
- Total Assets: $1,079,920
- Total Liabilities: $49,938
- Net Assets: $1,029,982
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING INCOME
Revenue
$348,126
RENTAL INCOME
Revenue
$240,703
Organization Details
Founding Year
2014
Phone
(908) 737-1922Principal Officer
Dr Keith Bostian
Main Address
1000 MORRIS AVENUE STEM BUILDING, UNION, NJ, 07083
Website
www.ilsebio.comNTEE Category
Code: H99 - Medical research
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