The Biobreak Organization Inc

Nonprofit profile at a glance

EIN
870795559
IRS 990 coverage
2018–2020
Forms available
Form 990 2020, Form 990-N 2013
Location
Boston, MA, USA
Phone
6173000161
Rating confidence
Limited
Sector
Recreational l Clubs

Official website

Reported finances

Revenue
$86,700
Expenses
$215,711
Assets
$113,414
Liabilities
$39,831

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GEOFFREY MEYERSON (PRESIDENT/TREASURER)

People named in this filing

  • ROBERTA MEYERSON (DIRECTOR)
  • ANDREW MEYERSON (DIRECTOR)
  • MARTIN LEHR (SECRETARY)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organizing networking events where biotech, pharma, medtech, diagnostic and venture capital executives can build relationships, source transactions and learn about other companies in their area, fostering a stronger environment for the life sciences. Membership is free to qualifying individuals and revenue is generated by voluntary sponsorships. Sponsors are members, but no member is required to be a sponsor.

What it reported doing in 2020

The organization hosted a few in-person networking events in multiple locations in january and february of 2020. Attendance ranged from 50-500 people. The expenses are the direct costs for the networking events, such as the venue rental, food, printing and marketing. The revenue resulted from solicitation of sponsors for these events. No fundraising costs were incurred in obtaining sponsors. The organization rents out lobbies, restaurants, etc. For the location of each event.the organization hosted multiple virtual expert panel discussion and virtual networking events from july through december 2020. Attendance ranged from 30-250 people. The expenses for virtual events included zoom platform and various marketing platforms.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 27
  • Sustainability: 20
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 25%; rating input score 25; 17th 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: -148.8%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -41.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -29.3% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 1 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $74K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 25/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.