Overview
What is Forward Biolabs Inc?
Forward Biolabs Inc, located in Madison, Wisconsin, is a nonprofit organization that offers a fully-equipped, maintained, and supported life science lab for early-stage biotechnology companies. Its primary mission is to accelerate translational research, foster state-wide economic development, and create jobs. This is achieved by operating a state-of-the-art laboratory, which is shared by innovative, early-stage biotechnology companies associated with the University of Wisconsin-Madison and other life-science research organizations. Furthermore, Forward Biolabs provides education and mentoring to these companies, supporting their translational life-science research endeavors.
Official website here: www.forwardbiolabs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating
Forward Biolabs Inc has received an 81% score from Charity Navigator, indicating a solid performance in accountability and finance. This rating is based exclusively on the organization's adherence to financial management and transparency practices, reflecting its commitment to responsible operations. The organization is recognized for having a majority independent board, contributing to strong governance structures.
The nonprofit exhibits strong financial health, with a program expense ratio of 70.58%, indicating that a significant portion of its resources is directed towards its programs rather than administrative costs. Additionally, it boasts a commendable liabilities to assets ratio of 3.24%, showcasing the organization's financial stability and low risk of insolvency.
While the rating highlights various strengths, the overall score is heavily reliant on accountability and finance metrics alone, which may not provide a full picture of the organization's impact in the community. Nonetheless, Forward Biolabs Inc demonstrates robust management practices and financial oversight, making it a trustworthy option for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Forward Biolabs Inc legitimate?
Forward Biolabs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Forward Biolabs 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: $208,117
Professional Fundraising Fees: $0
Other Salaries and Wages: $76,661
For more financial information, click here
Official website here: www.forwardbiolabs.org
What is the mission statement of Forward Biolabs Inc?
Forward Biolabs Inc is committed to accelerating translational research in the field of biotechnology. They aim to achieve this by operating a fully-equipped, state-of-the-art laboratory, which they share with innovative, early-stage biotechnology companies associated with the University of Wisconsin-Madison and other life-science research organizations. This shared facility is intended to foster economic development at a state level and create job opportunities. Furthermore, Forward Biolabs provides education and mentoring to these early-stage biotechnology companies engaged in translational life-science research.
Official website here: www.forwardbiolabs.org
Who is the CEO of Forward Biolabs Inc?
Jessica Martin Eckerly is the Ceo & Secretary of Forward Biolabs Inc. The CEO's salary of Forward Biolabs Inc is $164,167 and their total compensation is $203,509.
Official website here: www.forwardbiolabs.org
What is the revenue of Forward Biolabs Inc?
Forward Biolabs Inc's revenue in 2022 was $895,538.
Official website here: www.forwardbiolabs.org
Who are the executives of Forward Biolabs Inc and what are their salaries?
There 6 volunteers at Forward Biolabs Inc.
Here are 7 key members and their salaries (Forward Biolabs Inc's CEO's salary is $164,167 and their total compensation is $203,509):
- Compensation: $164,167
- Related: $0
- Other: $39,342
- 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
Official website here: www.forwardbiolabs.org
Where can I find the form 990 for Forward Biolabs Inc?
Forward Biolabs Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.forwardbiolabs.org
Learn more at the official website: www.forwardbiolabs.org
Mission Statement of Forward Biolabs Inc
Forward Biolabs Inc, a forward-thinking organization, is dedicated to accelerating translational research and fostering economic development at a state level. They achieve this by operating a fully-equipped, state-of-the-art laboratory, serving as a shared space for innovative, early-stage biotechnology companies associated with the University of Wisconsin-Madison and other life-science research organizations. This collaborative environment encourages the growth of these companies, ultimately leading to the creation of new jobs in the sector.
Beyond providing a physical space, Forward Biolabs Inc also offers educational and mentoring programs to these early-stage biotechnology companies engaged in translational life-science research. This holistic approach not only supports the development of groundbreaking research but also equips these companies with the necessary tools and guidance to navigate the complex world of translational science. In essence, Forward Biolabs Inc is committed to driving innovation, spurring economic growth, and fostering job creation within the biotechnology sector through its unique blend of laboratory facilities and educational support.
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Impact
July, 2024
Forward Biolabs Inc's impact is significant in accelerating translational research, fostering state-wide economic development, and creating job opportunities. By providing a fully equipped and supported life science laboratory for innovative, early-stage biotechnology companies, Forward Biolabs plays a crucial role in advancing cutting-edge research and technology. Additionally, the organization offers education and mentoring to support the growth and success of emerging biotech firms engaged in translational life science research. Through its activities, Forward Biolabs contributes to the vitality and innovation of the life science industry, driving economic growth and creating a supportive environment for life science entrepreneurs in Madison, Wisconsin.
This information is meant to be a general summary of Forward Biolabs 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.
- Program Service Revenue: $629,213
- Gross Receipts: $895,538
Assets and Liabilities:
- Total Assets: $2,187,908
- Total Liabilities: $66,723
- Net Assets: $2,121,185
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER FEE REVENUE
Revenue
$629,213
Organization Details
Founding Year
2017
Phone
(608) 316-4003Principal Officer
Jessica Martin Eckerly
Main Address
504 S ROSA RD 200, MADISON, WI, 53719
Website
www.forwardbiolabs.orgNTEE Category
Code: U50 - Science research
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