BioHealth Innovation

Nonprofit profile at a glance

EIN
453824067
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Rockville, MD, USA
Phone
3016370699
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$4,436,123
Expenses
$4,740,876
Assets
$5,288,050
Liabilities
$287,424

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Richard Bendis (President & CEO)

Highest reported compensation

  • Richard Bendis (President & CEO): $626,019 total reported compensation
  • Ethel Rubin (Entrepreneur in Residence): $293,905 total reported compensation
  • John Sullivan (Entrepreneur in Residence): $267,331 total reported compensation

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

Overview

Mission

Biohealth Innovation connects market relevant research assets to appropriate funding, management, and markets to facilitate the development of commercially viable bio health products and companies.

What it reported doing in 2024

Entrepreneur-in-Residence/Small Business Innovative Research (SBIR): The BHI SBIR/STTR federal funding assistance offers BioHealth companies support in preparing applications for federal funding inclusive of SBIRS, STTRS, and other federal government awards. BHI's Entrepreneur-in-Residence (EIR) program is designed to be an active partner with research institutions to source, fund, and grow high-potential, early-stage products through project-focused companies. The entrepreneurs in the program support the formation of new companies based upon innovative discoveries in the areas of drugs, vaccines, therapeutics, diagnostics, and medical devices from the intramural research programs at partner organizations, as well as from universities and businesses. The EIR will find, evaluate, and support the development of new start-up companies based upon technology license agreements from technology transfer offices or equivalent units within the research institutions. Under an NIH/OTT partnership intermediary agreement, BHI will employ and place entrepreneurs-in-residence (EIR) within OTT to evaluate, identify and license intramural technologies in the areas of drugs, vaccines, therapeutics, diagnostics and medical devices from the intramural research programs at both the NIH and the Food and Drug Administration (FDA). An NIH EIR is an industry expert with scientific, entrepreneurial/managerial and financial experience who works side by side with NIH scientists to identify, evaluate and support the development of new start-up companies based upon technology license agreements from OTT. The innovate UMBC program provides applied training for post-doctoral fellows, research scientists, and other professionals who want to start life science-based companies. The program was launched in 2010 with a 3-year funding grant from the National Science Foundation (NSF). The university of Maryland, Baltimore County (UMBC) will offer the program at the universities at shady grove's campus in Montgomery County, Maryland. The program is intended for scientists interested in commercializing biomedical technology. Partners in the program are biohealth innovation, inc. And the Montgomery County department of economic development.

Operating model

Revenue model
Affiliate-supported. 62% of the money available for current operations came from contributions from related organizations.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 79
  • Accountability: 79
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.5%; rating input score 88
  • Program expense ratio: 81.9%; rating input score 82
  • Fundraising efficiency: $7.62 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • 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 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 1.12; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 31.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 87.5% of revenue deployed · 81.9% of spending went to programs
  • Governance: 19 of 20 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.9M in reported program spending
  • Leadership: top reported pay $626K · 24 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $661K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.