Bioscience Los Angeles County Inc

Nonprofit profile at a glance

EIN
832720515
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Culver City, CA, USA
Phone
2137848700
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Official website

Reported finances

Revenue
$356,182
Expenses
$1,408,026
Assets
$987,047
Liabilities
$166,671

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

Leadership & pay

18 people listed

Executive titles in this filing

  • STEPHANIE HSIEH (CEO)
  • DAVID WHELAN (CEO)

Highest reported compensation

  • STEPHANIE HSIEH (CEO): $209,025 total reported compensation
  • DAVID WHELAN (CEO): $126,542 total reported compensation
  • JESSICA BARNETTE (DIRECTORS, OPS &PR): $95,733 total reported compensation

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

Overview

Mission

Bioscience los angeles county or biosciencela was formed in 2018 to create, enable, and promote an enviable, thriving, and vibrant life sciences ecosystem in greater los angeles to produce economic and societal benefits in the region.

What it reported doing in 2024

Start-up activity: biosciencela will deploy selected funds, capabilities, talents, and resources to accelerate the pace of local commercial life sciences activity, focusing especially on the growth and retention of start-up companies. We will do so by supporting: new capital formation and deployment targeting early-stage companies; new commercial lab space; incubating, accelerating and coworking spaces, and other infrastructure to serve a constellation of thriving research hubs across the region. Biosciencela also will support the networking of local entrepreneurs, scientists, mentors, consultants, investors, and other professionals to better connect seasoned talent and coaching to emerging enterprises.workforces addition to growing the pool of executive and operating talent for start-ups, biosciencela will better align the public sector's workforce investments to stakeholder needs. Biosciencela will tailor regional workforce resources to industry requirements and leverage those resources with private funds and expertise. Biosciencela may fund programs that increase the stem pipeline, give local students direct exposure to entrepreneurship, and add diversity to the life sciences sector.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 61
  • Accountability: 70
  • Sustainability: 13
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 39.1%; rating input score 39
  • Fundraising efficiency: $0.88 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -295.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.7; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 50.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -39.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -19.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 39.1% of spending went to programs
  • Governance: 8 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $551K in reported program spending
  • Leadership: top reported pay $209K · 18 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $188K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 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.

Key Signals

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

  • Moderate — Financial Efficiency: Program expense ratio scored 39/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.