Biotechnology Innovation Organization

What it reported doing in 2024

Advocacy: biotechnology innovation organization (bio)'s advocacy efforts reflect the priorities identified by the bio board of directors and the three section governing boards.the board of directors focuses on issues of importance to all bio members, regardless of their size or technology. These cross-cutting advocacy accomplishments for the year are listed below: - safeguarded and advanced intellectual property protections, domestically and internationally.- fostered a dialogue about proactively advancing the socially responsible use of biotechnology.- promoted investment in government and academic research.- expanded outreach to foreign governments and international entities to educate on policy issues of importance to the biotechnology industry and to improve the investment and regulatory climate for biotech products.the health section advocacy accomplishments: - promoted healthcare policies that recognize both the promise and value of innovation.- advocated for a safe and predictable regulatory environment for value-based payment arrangements for drugs and biologics.- enhanced and protected patient access to innovative therapies and promoted the need for greater nondiscrimination enforcement against insurance benefit designs.- advocated for biosimilars policies that protect patient safety, promote biomedical innovation, and advance the science-based review and approval of biosimilars and interchangeable biological products.- promoted the value of u.s. Government investments in programs that improve access to immunizations and foster vaccine innovation, strengthened our ability to respond to bioterror threats or emerging infectious diseases, and encouraged development of new products to fight antimicrobial resistance (amr).- influenced improvements to the international environment for biomedical innovation and global public health preparedness.- advocated for the modernization of the clinical development paradigm.the emerging companies section advocacy accomplishments: - advanced the interest of emerging companies in capital formation and financial services policy.- advocated for fiscal policies supporting innovative emerging companies and investment in groundbreaking r&d; enhanced the voice of pre-revenue, r&d-intensive businesses- advocated for the removal of burdensome financial reporting regulations on emerging companies.the agriculture & environment section advocacy accomplishments: bio's agriculture & environment (or ag & environment) section focuses on issues related to the organization's prior food & agriculture and industrial & environment sections. These include:- advocating on initiatives that strengthen the bioeconomy; and- meeting shared goals related to societal challenges such as food security, national security and climate change.the ag & environment section advocates and coordinates directly with government and industry stakeholders to increase the understanding and acceptance of biotech innovation, while also improving the regulatory and approval processes. This section promotes appropriate initiatives that support innovation, market access, and market acceptance.

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 84.9%; rating input score 85; 19th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 98.8%; rating input score 99; 54th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • 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: 15.1%; rating input score 82; 82nd percentile among comparable filings
• Total-asset coverage ratio: 1.7; rating input score 58; 58th percentile among comparable filings
• Liabilities to assets ratio: 0.45; rating input score 40; 40th percentile among comparable filings
• Officer compensation ratio: 9.8%; rating input score 3; 3rd percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 4.9% per year; rating input score 100; 42nd percentile among comparable filings
• Asset growth: 7.2% per year; rating input score 100; 53rd percentile among comparable filings