Overview
What is Biotechnical Institute Of Maryland Inc?
Biotechnical Institute of Maryland Inc, established in 1998, is a 501(c)(3) nonprofit organization located in Baltimore, Maryland. Its primary mission is to offer tuition-free training and placement assistance for entry-level biotechnicians, catering to the rapidly expanding biotechnology industry in the region. The institute's Laboratory Associates Program provides essential laboratory skills training to motivated, disadvantaged, and unemployed individuals with a high school diploma or equivalent. This program equips trainees with the necessary skills to secure employment as skilled and reliable lab technicians, thereby providing a well-qualified workforce to support the growth of the life sciences industry in Maryland. The institute is recognized for its effectiveness and sustainability, having trained over 40 cohorts and celebrating over 500 graduates since its inception. With a placement rate exceeding 70%, the institute has provided skilled workers to over 50 Maryland employers, and its long-term retention rate stands at approximately 77%. The average wage for its graduates in 2020 was $17.37 per hour, plus benefits. The Biotechnical Institute of Maryland Inc's goal is to bridge opportunities for disadvantaged individuals and their families by removing barriers to next-economy jobs with livable wages, which are often unfilled due to a lack of proper training in the local workforce.
Official website here: www.biotechmd.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
The Biotechnical Institute of Maryland Inc has achieved an impressive score of 97%, earning a Four-Star rating on Charity Navigator. This strong rating reflects the organization's commitment to accountability and finance, with a high score of 96 in this category. The institute also excels in culture and community, scoring a perfect 100, indicating a robust framework for transparency and ethical governance.
Among the strengths highlighted, the organization boasts a fully independent board consisting of 11 members and maintains rigorous financial oversight through an audit and oversight committee. The institute has established comprehensive policies in areas such as conflict of interest, whistleblower protections, and document retention, underscoring its dedication to ethical practices and accountability. Additionally, it exhibits strong program expense ratios, with nearly 84% of expenses directed towards its programs.
While the data does not reveal any significant limitations, the institute's outstanding feedback collection and usage practices demonstrate a proactive approach to improvement and engagement. Overall, the Biotechnical Institute of Maryland Inc stands out as a well-managed organization with a clear focus on its mission and high standards of governance.
This AI summary has been generated from information found on Charity Navigator.
Is Biotechnical Institute Of Maryland Inc legitimate?
Biotechnical Institute Of Maryland Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Biotechnical Institute Of Maryland 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: $228,544
Professional Fundraising Fees: $0
Other Salaries and Wages: $223,353
For more financial information, click here
Official website here: www.biotechmd.org
What is the mission statement of Biotechnical Institute Of Maryland Inc?
The Biotechnical Institute of Maryland Inc's mission is centered around providing tuition-free training and placement assistance to highly motivated, disadvantaged, and unemployed individuals with a high school diploma or a graduate equivalent degree. The primary objective is to prepare them for roles as skilled and reliable lab technicians. Furthermore, the institute aims to contribute to the growth of the life sciences industry, which is both economically and scientifically significant. As an MHEC-approved program, graduates receive seven credits from Baltimore City Community College. Additionally, the institute designs and delivers specialized laboratory programs to employers, enabling professional laboratory workers to advance their careers through training in advanced techniques and procedures.
Official website here: www.biotechmd.org
Who is the CEO of Biotechnical Institute Of Maryland Inc?
Dr Brandy Carter is the Chair of Biotechnical Institute Of Maryland Inc.
Official website here: www.biotechmd.org
What is the revenue of Biotechnical Institute Of Maryland Inc?
Biotechnical Institute Of Maryland Inc's revenue in 2022 was $1,157,693.
Official website here: www.biotechmd.org
Who are the executives of Biotechnical Institute Of Maryland Inc and what are their salaries?
The average compensation at Biotechnical Institute Of Maryland Inc during 2022 was $64,557. There are 7 employees and 11 volunteers at Biotechnical Institute Of Maryland Inc.
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- Compensation: $111,940
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- Compensation: $110,737
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- Other: $5,057
Official website here: www.biotechmd.org
Where can I find the form 990 for Biotechnical Institute Of Maryland Inc?
Biotechnical Institute Of Maryland Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.biotechmd.org
Learn more at the official website: www.biotechmd.org
Mission Statement of Biotechnical Institute Of Maryland Inc
The Biotechnical Institute of Maryland Inc, a non-profit organization, is dedicated to providing tuition-free training and placement assistance for highly motivated, disadvantaged, and under/unemployed individuals with a high school diploma or a graduate equivalent degree. The institute's primary mission is to prepare these individuals for positions as skilled and reliable laboratory technicians, thereby contributing to a critically needed workforce that supports the growth of the life sciences industry, an economically and scientifically important sector. As an MHEC-approved program, Biotechnical Institute of Maryland Inc's laboratory associates graduate with seven (7) credits from Baltimore City Community College.
In addition to its training program, Biotechnical Institute of Maryland Inc also designs and delivers specialized laboratory programs to employers, further training professional laboratory workers in advanced techniques and procedures. This enables these workers to advance in their careers, ensuring a continuous supply of skilled personnel in the life sciences industry. By equipping individuals with the necessary skills and providing a steady workforce, Biotechnical Institute of Maryland Inc plays a significant role in supporting the growth and development of the life sciences industry.
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Impact
July, 2024
Biotechnical Institute Of Maryland Inc's impact is significant as it effectively provides tuition-free training and placement assistance to highly motivated, disadvantaged, and underemployed individuals in Maryland. By training individuals as skilled and reliable lab technicians, BTI not only supports the growth of the life sciences industry but also offers a pathway to sustainable employment for its graduates. With a placement rate exceeding 70% and a long-term retention rate of approximately 77%, BTI has positively impacted over 500 graduates and provided specialized workers to more than 50 employers in the state. The organization's average placement wage in 2020 was $17.37/hour plus benefits, demonstrating its commitment to offering opportunities for economic stability to its participants and their families. Through its initiatives, BTI contributes to changing lives, supporting families, and strengthening communities by bridging the gap between disadvantaged individuals and the in-demand jobs in the biotechnology sector.
This information is meant to be a general summary of Biotechnical Institute Of Maryland 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: $132
- Program Service Revenue: $11,774
- Gross Receipts: $1,157,693
Assets and Liabilities:
- Total Assets: $1,291,643
- Total Liabilities: $307,467
- Net Assets: $984,176
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WORKSHOPS
Revenue
$11,774
Organization Details
Founding Year
1998
Phone
(410) 752-4224Principal Officer
Dr Brandy Carter
Main Address
1101 WEST PRATT STREET, BALTIMORE, MD, 21223
Website
www.biotechmd.orgNTEE Category
Code: B30 - Education
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