Biocom California

What it reported doing in 2024

Biocom, representing all of southern California, is the largest, most successful regional life science association in the world. Through our many initiatives, our member companies have a stronger, unified voice in matters of public policy, workforce development, capital development and group buying power. Our members are connected and through our communication channels, visible on a national and global level. In the last year, we have worked to strengthen relationships and open lines of communication with the fda. This dialogue is helping.capital development:- continued to identify ways to raise California's visibility on a national and international level.- grew business development focused networking events to further connect to the community in California. - grew the global partnering conference committee.public policy:- hosted congressional briefings on life science topics.- significant work in the legislative areas of patent reform, device tax repeal and nih funding.- hosted high level policy makers and regulators.- engaged strongly on legislation at the state level, particularly on legislation affecting public disclosure of proprietary pricing information.- key stakeholder in development of regional water policy.communications:- biocom is dedicated to promoting our member companies and their successes, while keeping membership apprised of the latest industry news.events & initiatives:- organized multiple trips to japan and had a biocom/California presence at the bio japan convention in tokyo.- held a successful partnering conference and celebration of life annual dinner.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.7%; rating input score 96; 29th percentile among comparable filings
• Governance controls: 5 of 9 controls in place; rating input score 56
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.9%; rating input score 14; 14th percentile among comparable filings
• Total-asset coverage ratio: 0.99; rating input score 36; 36th percentile among comparable filings
• Liabilities to assets ratio: 1.01; rating input score 6; 6th percentile among comparable filings
• Officer compensation ratio: 25.4%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 11.1% per year; rating input score 100; 78th percentile among comparable filings
• Asset growth: 15.4% per year; rating input score 100; 82nd percentile among comparable filings