Bioversity Inc

Nonprofit profile at a glance

EIN
932178166
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6176745107
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$1,231,693
Expenses
$1,206,990
Assets
$853,872
Liabilities
$315,593

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

Leadership & pay

3 people listed

Highest reported compensation

  • KENDALLE LEE BURLIN O'CONNELL (BOARD CHAIR): $491,070 total reported compensation
  • KEVIN KELLY (CHIEF FINANCIAL OFFICER): $191,007 total reported compensation

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

Overview

Mission

Bioversity, inc. Was formed to implement industry-aligned, expanded workforce training initiatives. Bioversity operates training centers, runs programming, and creates partnerships to provide Massachusetts residents the skills and hands-on experience necessary to enter and thrive in life sciences careers.

What it reported doing in 2024

Bioversity is a workforce development program for the bio-sciences. While the entity was established in 2023, classes did not commence until 2024.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

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

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 65
  • Accountability: 56
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.5%; rating input score 73
  • Program expense ratio: 74%; rating input score 74
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 45.2% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 48.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 72.5% of revenue deployed · 74% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $893K in reported program spending
  • Leadership: top reported pay $491K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.