Biocon Inc

Nonprofit profile at a glance

EIN
223619257
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Edison, NJ, USA
Phone
7326610202
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$4,649,455
Expenses
$4,130,474
Assets
$30,182,299
Liabilities
$25,023,653

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JOSEPH A YACCARINO (PRESIDENT / CEO)

Highest reported compensation

  • JOSEPH A YACCARINO (PRESIDENT / CEO): $958,758 total reported compensation
  • MICHAEL J KAWAS (TREASURER / CFO): $697,388 total reported compensation
  • JENNIFER BIRMINGHAM (SECRETARY / GENERAL COUNSEL): $533,939 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 67
  • Accountability: 81
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.5%; rating input score 45
  • Program expense ratio: 51.2%; rating input score 51
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th 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: 11.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 7.31; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 45.5% of revenue deployed · 51.2% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $959K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.