The Biotechnology Incubator at Nymc Inc

Overview

Mission

The purpose is to stimulate the establishment and growth of biotechnology start-up companies and to increase the number of thriving companies originating and developing within westchester county and the lower hudson valley area. (see schedule o)

What it reported doing in 2024

Technology incubator: direct business development assistance, professional network and relationship support, educational programs and facility based services.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
471682208
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015
Location
Valhalla, NY, USA
Phone
9145941000
Rating
55
Verdict
MIXED
Rating confidence
Standard
Sector
Small Business Development

Official website

Reported finances

Revenue
$223,804
Expenses
$151,467
Assets
$2,059,059
Liabilities
$22,600

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

MIXED - Revenue comfortably covers expenses. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 59
  • Accountability: 47
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.1%; rating input score 55
  • Program expense ratio: 81.4%; rating input score 81
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.3%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 13.59; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 375.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -10.1% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 22.5% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 55.1% of revenue deployed · 81.4% of spending went to programs
  • Governance: 1 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $123K in reported program spending
  • Leadership: top reported pay $1.4M · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 annual filings from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 26 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Accountability: Independent voting board scored 25/100.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.

Leadership & pay

6 people listed

Highest reported compensation

  • ALAN KADISH (PRESIDENT & TRUSTEE): $1,361,965 total reported compensation
  • EDWARD C HALPERIN (CHANCELLOR OF HEALTH AFF & CEO): $772,771 total reported compensation
  • SALOMON AMAR (MEDICAL DIRECTOR): $722,091 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.