Birmingham Bio Innovation Corporation

Nonprofit profile at a glance

EIN
934981504
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-N 2023
Location
Birmingham, AL, USA
Phone
2052541986
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$296,052
Expenses
$239,496
Assets
$5,508,630
Liabilities
$5,498,281

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Sanjay Singh (President)
  • Kathy Nugent (President Elect)

People named in this filing

  • Sanjay Singh (President)
  • Miller Girvin (Director)
  • Alesia Jones (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Birmingham Bio Innovation Corporation's mission is to facilitate and promote the growth of Alabama's biotechnology ecosystem. Building on the region's existing strengths in R&D, fueled by the University of Alabama at Birmingham (the State of Alabama's largest employer) and Southern Research Institute (a translational research institution with a long history of biotech and pharmaceutical research and commercialization), BBIC will advance an innovative biotech economy that attracts and nurtures companies, creates jobs, and improves health outcomes through accelerating the development of drugs, vaccines, and diagnostics.

What it reported doing in 2025

The Organization partipated in various activities throughout the year for the purpose of organizing and raising funds in order to support future projects to advance an innovative biotech economy.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 1
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 70
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: $1.45 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: 19.1%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 23; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -92% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.