Biobat Inc
Nonprofit profile at a glance
- EIN
- 208244669
- IRS 990 coverage
- 2010–2012
- Forms available
- Form 990 2012
- Location
- Brooklyn, NY, USA
- Phone
- 7188047835
- Rating confidence
- Limited
- Sector
- Real Estate Associations
Reported finances
- Revenue
- $7,087,415
- Expenses
- $54,216
- Assets
- $46,475,250
- Liabilities
- $2,881,433
Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.
Leadership & pay
13 people listed
Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To acquire a leasehold interest in a portion the brooklyn army terminal premises, hold the title to such leasehold interest, develop and rehabilitate premises, reinvest income into development and construction of the project until such time as the project is complete.
What it reported doing in 2012
Hold lease interest in portion of BAT: Acquire and maintain leasehold interest, develop interest and enter into leases with tenants, remit income to members once development is complete and operational.
Operating model
- Revenue model
- Grant-funded. 99% of the money available for current operations came from government grants.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 92
- Accountability: 74
- Sustainability: 86
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 38
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 99.2%; rating input score 100; 100th percentile among comparable filings
- Total-asset coverage ratio: 857.22; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 77; 77th percentile among comparable filings
- Officer compensation ratio: 213%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 147.2% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 12.1% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 10 of 10 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $116K · 13 people listed
- Highest-paid contractors: 4 contractors listed
- Consistency: 11 of 11 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Filing history: 3 filing years from 2010 to 2012
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 0/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.