Biowell Inc

Nonprofit profile at a glance

EIN
883848972
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Houston, TX, USA
Phone
6507964838
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Energy Resources Conservation and Development

Reported finances

Revenue
$264,601
Expenses
$395,454
Assets
$7,466
Liabilities
$129,704

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Veronica Breckenridge (President)
  • Paul Palmer (Executive Director)

People named in this filing

  • Veronica Breckenridge (President)
  • Carlos Estrada (Secretary)
  • Anthony Breckenridge (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Biowell Inc. plans to launch an accelerator program IRBA (Industry, Research&Lab, Business Acceleration) program. This is the main program Biowell Inc. is offerring to qualify start-up that will be selected through a selection committee consists of key corporate sponsors.

What it reported doing in 2024

1. Hosted first Industrial Biology Day conference where corporates, investors, start-ups, and city and state government reps convened in Houston to learn more about what Industrial Biomanufacturing can do and included a facility tour to a biomanufacturing facility in Houston. 2. Launched and conducted first cohort of BioWell accelerator program with 5 start-ups and 4 corporates engaged. 3. Led initiative to partner with University of Houston, Greater Houston Partnership, San Jacinto College and EastEnd Makerhub to form BioMS (biomanufacturing of Chemical and Materials for sustainability) consortium and was selected by NSF out of 293 proposals to submit final proposal (79 were selected).

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 18
  • Sustainability: 11
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -49.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 17.37; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 96.2% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 47.2% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $395K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.