New Orleans Bio Innovation Center Inc

Nonprofit profile at a glance

EIN
200078125
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
New Orleans, LA, USA
Phone
5046802973
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$2,747,196
Expenses
$3,833,801
Assets
$33,204,192
Liabilities
$557,079

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

Leadership & pay

9 people listed

Executive titles in this filing

  • KRISTOPHER KHALIL (PRESIDENT/CEO)

Highest reported compensation

  • KRISTOPHER KHALIL (PRESIDENT/CEO): $223,454 total reported compensation

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

Overview

Mission

The organization's mission is to manage a biotechnology incubator facility to develop and support a life science industry in new orleans.

What it reported doing in 2024

Commercialization programactively facilitates local biotech business development and job creation through subsidized or free consulting services, including business plan writing, market research, securing intellectual property, forming a management team, and raising financing through grant applications and connections with venture capital firms.this program also aims to raise awareness of commercialization research as a potential outcome for academic research through public educational seminars and an annual mini-conference dedicated to the developing biotech infrastructure and economic development in new orleans and surrounding areas.

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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 43
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.8%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: 100%; rating input score 100; 63rd 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -39.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 8.66; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $223K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.