Blackbird Laboratories

What it reported doing in 2024

Blackbird laboratories is an independent nonprofit medical research organization based in baltimore, Maryland, which conducts life sciences research in the pursuit of new treatments for diseases in collaboration with nonprofit hospitals, academic institutions, and other medical research organizations. Specifically, we aim to help Maryland's universities and investigators amplify the impact of their academic research by bringing transformative technologies to life and supporting start-up formation and development. Our goal is to bridge the gap between pioneering scientific research and industry by providing program management, strategic scientific and business collaboration, and financial support. Our team of life sciences professionals facilitates the development of innovative biotechnology companies by advancing promising translational technology into new medicines and medical treatments for patients, attracting investment, and nurturing baltimore's potential to be a life sciences leader on the national stage.in fiscal year 2024, the blackbird laboratories team evaluated over 200 potential projects and established 4 new research programs for a total of 9 collaborative projects with nonprofit hospital and academic institutions (johns hopkins university and the university of Maryland) and other medical research organizations (the lieber institute for brain development). The ultimate goal of these collaborations is to develop pioneering therapeutics research into successful spinout companies working to address gaps in available treatment options for patients. Many breakthrough medicines and technologies that serve the public interest fail to progress to market because of a lack of funding or a lack of technical expertise to manage the startups launched to shepherd these products to market. To overcome these barriers, blackbird laboratories advises these startup companies and connects them with venture capital firms, ultimately ensuring that medical innovations reach patients as quickly and effectively as possible. Another key tenet of blackbird laboratories' mission to catalyze and maintain a thriving entrepreneurial ecosystem in baltimore is the retention and advancement of local life sciences talent. Two fifth-year phd students and one recent phd graduate comprised blackbird laboratories second venture fellows class - a paid fellowship program launched in 2023 to enable direct exposure to entrepreneurship in the life sciences industry. Further, blackbird laboratories continues fostering mentorship and training opportunities by organizing and hosting various scientific talks, presentations, and other programs that are open to local scientists and students, as well as amplifying the ecosystem development work already being conducted locally through sponsorship and collaboration.in addition to nurturing local talent, blackbird laboratories is currently establishing 42,000 sq ft of additional wet lab capacity (blackbird biohub) within baltimore city. Blackbird biohub will not only support blackbird laboratories' own medical and scientific research but also foster the success of fledgling biotechnology companies by facilitating their retention, in turn helping to create a thriving entrepreneurial ecosystem for life sciences companies in baltimore.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 87.3%; rating input score 87
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • 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: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -92%; rating input score 1; 1st percentile among comparable filings
• Total-asset coverage ratio: 10.36; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
• Officer compensation ratio: 35.5%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 51.3% per year; rating input score 100; 97th percentile among comparable filings
• Revenue growth: -181.4% per year; rating input score 0; 0th percentile among comparable filings
• Asset growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings