Bioforward Inc

Nonprofit profile at a glance

EIN
391605083
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6082364693
Rating confidence
Limited
Sector
Biomedicine, Bioengineering

Official website

Reported finances

Revenue
$2,109,580
Expenses
$2,105,329
Assets
$1,860,106
Liabilities
$764,732

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

Leadership & pay

20 people listed

Executive titles in this filing

  • LISA JOHNSON (CEO)

Highest reported compensation

  • WENDY HARRIS (REGIONAL INNOVATION OFFICER): $285,138 total reported compensation
  • LISA JOHNSON (CEO): $283,893 total reported compensation

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

Overview

Mission

To promote the growth of biohealth industries in Wisconsin through services, programs, publications and conferences.

What it reported doing in 2024

The wi biohealth tech hub is an initiative of bioforward. As the lead consortium member, bioforward was awarded a dept of commerce- eda tech hub designation and phase ii grant to lead the governance project for the wi biohealth tech hub.

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program revenue.
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: 84
  • Accountability: 90
  • Sustainability: 30
  • Growth: 100

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; 63rd 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: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 27%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 10.4% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 18% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 19 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $285K · 20 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 34/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.