Overview
What is Biodesign Challenge Inc?
Biodesign Challenge Inc is a forward-thinking nonprofit organization based in New York City, specifically at 282 11TH AVENUE 2301. Their primary mission is to foster collaboration between artists, designers, and biologists, leading to innovative projects in various fields such as medicine, textiles, beauty, food, and manufacturing. Throughout the spring, they work with university instructors to design curricula, partner with scientists, and mentor students. In June, these teams present their projects at a conference, showcasing their groundbreaking ideas to esteemed judges and audiences from academia, industry, and museums. Biodesign Challenge Inc offers ongoing support to participants by connecting them with opportunities in museums, galleries, investors, and accelerator programs. These connections have led to the evolution of several projects into startup companies and exhibits at renowned venues globally, including the Museum of Modern Art, Dutch Design Week, and the Tech Museum of Innovation. Some teams have even gone on to win prestigious awards like the National Geographic Chasing Genius Award and the International Bioart and Design Award. The nonprofit's activities and mission are centered around the belief that bringing together diverse disciplines can lead to transformative applications in biotech. With a dedicated workforce of four individuals, Biodesign Challenge Inc plays a significant role in nurturing the first generation of professionals who can navigate the promises and pitfalls of emerging biotech while engaging the public in thoughtful dialogue about its broader implications.
Official website here: www.biodesignchallenge.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating
Biodesign Challenge Inc has received an overall score of 83%, indicating a solid performance in accountability and finance. This rating reflects a focus on key financial health indicators, with a particular emphasis on their accountability practices. The organization benefits from a majority independent board and demonstrates responsible asset management, which are both positive aspects contributing to their strong financial score.
The organization scores highly on several metrics, including a perfect score for their independent board members and the absence of material diversion of assets. They have also effectively communicated their policies regarding conflicts of interest and document retention, which adds to their credibility. However, there are areas that require improvement, such as the absence of a whistleblower policy that could enhance transparency and integrity.
Overall, Biodesign Challenge Inc demonstrates strong fiscal management and governance practices, making it a reliable nonprofit in the eyes of donors. While there are some gaps in policy documentation, their commitment to maintaining a high program expense ratio suggests that a significant portion of their resources are allocated to their mission-driven activities.
This AI summary has been generated from information found on Charity Navigator.
Is Biodesign Challenge Inc legitimate?
Biodesign Challenge Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Biodesign Challenge 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $153,824
For more financial information, click here
Official website here: www.biodesignchallenge.org
What is the mission statement of Biodesign Challenge Inc?
Biodesign Challenge Inc is an organization that aims to bring together artists, designers, and biologists to collaborate on innovative projects. Each year, they partner with scientists, artists, and designers to envision transformational applications in biotech. The organization works with university instructors in the spring to design curricula, partner with scientists, and mentor students as they develop their projects. In June, teams, including university students and professional scientists, gather at their conference to showcase their projects to esteemed judges and audiences from academia, industry, and museums. The projects, which span various fields such as medicine, textiles, beauty, food, and manufacturing, help bridge the gap between art, design, and biotech. Biodesign Challenge Inc supports participants by connecting them with opportunities with museums, galleries, investors, and accelerator programs. Through these connections, projects have evolved into startup companies and exhibits at venues around the world.
Official website here: www.biodesignchallenge.org
Who is the CEO of Biodesign Challenge Inc?
Daniel Grushkin is the President of Biodesign Challenge Inc.
Official website here: www.biodesignchallenge.org
What is the revenue of Biodesign Challenge Inc?
Biodesign Challenge Inc's revenue in 2022 was $493,641.
Official website here: www.biodesignchallenge.org
Who are the executives of Biodesign Challenge Inc and what are their salaries?
The average compensation at Biodesign Challenge Inc during 2022 was $38,456. There are 4 employees and 5 volunteers at Biodesign Challenge Inc.
Here are 7 key members and their salaries:
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- Compensation: $106,891
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- Other: $12,865
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Official website here: www.biodesignchallenge.org
Where can I find the form 990 for Biodesign Challenge Inc?
Biodesign Challenge Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.biodesignchallenge.org
Learn more at the official website: www.biodesignchallenge.org
Mission Statement of Biodesign Challenge Inc
Biodesign Challenge, an innovative organization, aims to foster collaboration between artists, designers, and biologists. Its mission is to bring these diverse fields together, encouraging the creation of transformative projects in biotechnology. Each year, Biodesign Challenge partners with scientists, artists, and designers to envision potential applications in various sectors, such as medicine, textiles, beauty, food, and manufacturing.
Throughout the spring, Biodesign Challenge works closely with university instructors to design curricula, collaborate with scientists, and support students as they develop their projects. In June, the teams, consisting of both university students and professional scientists, gather at Biodesign Challenge's conference to present their innovative ideas to esteemed judges and audiences from academia, industry, and museums. This platform allows teams to prototype new ideas and showcase their work, bridging the gap between art, design, and biotechnology.
Biodesign Challenge supports its participants by connecting them with opportunities in museums, galleries, investor networks, and accelerator programs. Through these connections, projects have evolved into successful startups and exhibited at renowned venues worldwide, including the London Design Festival, Museum of Modern Art, Dutch Design Week, NYCXDESIGN, MIT Media Lab, Tech Museum of Innovation, and many others. Teams have also received prestigious awards, such as the National Geographic Chasing Genius Award and the International Bioart and Design Award.
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Impact
July, 2024
Biodesign Challenge Inc brings together artists, designers, and biologists to produce collaborative projects that push the boundaries of traditional disciplines. Through its innovative programs, Biodesign Challenge acts as a bridge between art, design, and biotechnology, fostering the development of professionals who can anticipate both promises and pitfalls in emerging biotech fields.
By engaging university students and professional scientists in hands-on projects, Biodesign Challenge encourages interdisciplinary thinking and creativity in fields such as medicine, textiles, beauty, food, and manufacturing. The organization's annual conference provides a platform for teams to showcase their ideas before esteemed judges and audiences from academia, industry, and museums.
Furthermore, Biodesign Challenge provides crucial support to participants by connecting them with opportunities at museums, galleries, investors, and accelerator programs. This support has enabled projects to evolve into startup companies and secure exhibitions at prestigious venues worldwide, including the London Design Festival, Museum of Modern Art, Dutch Design Week, MIT Media Lab, and many more.
Overall, Biodesign Challenge Inc's impactful efforts not only nurture innovative thinking and collaboration but also facilitate the translation of innovative ideas into real-world applications that address pressing societal challenges.
This information is meant to be a general summary of Biodesign Challenge 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: $93,417
- Gross Receipts: $493,641
Assets and Liabilities:
- Total Assets: $496,942
- Total Liabilities: $54,535
- Net Assets: $442,407
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEE RE
Revenue
$93,417
Organization Details
Founding Year
2018
Phone
(917) 969-1653Principal Officer
Daniel Grushkin
Main Address
282 11TH AVENUE 2307, NEW YORK, NY, 10001
Website
www.biodesignchallenge.orgNTEE Category
Code: B90 - Education
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