Life Sciences Greenhouse Of Central Pennsylvania
- Assets
- $22.5m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Harrisburg, PA
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 02-0576799
Organization Overview
Life Sciences Greenhouse Of Central Pennsylvania is located in Harrisburg, PA. The organization was established in 2003. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Life Sciences Greenhouse Of Central Pennsylvania employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Sciences Greenhouse Of Central Pennsylvania is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Life Sciences Greenhouse Of Central Pennsylvania generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.2%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO ACCELERATE ECONOMIC GROWTH AND JOB CREATION IN THE GREATER CENTRAL PENNSYLVANIA REGION THROUGH COMMERCIALIZATION OF DISCOVERIES IN THE LIFE SCIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PORTFOLIO COMPANY SUPPORT - ONCE AN INITIAL INVESTMENT IS MADE, THE COMPANY PROVIDES ON-GOING SUPPORT TO THE PORTFOLIO COMPANIES IN WAYS SUCH AS SERVING AS A DIRECTOR OR BOARD OBSERVER AND PROVIDING MANAGEMENT SUPPORT.
DUE DILIGENCE - THE COMPANY PROVIDES FUNDING TO EARLY STAGE LIFE SCIENCES COMPANIES IN THE FORM OF DEBT OR CONVERTIBLE DEBT INSTRUMENTS AS WELL AS EQUITY INVESTMENTS VIA LSGPA FUND INVESTMENTS. PRIOR TO MAKING AN INVESTMENT, THE COMPANY INCURS DUE DILIGENCE COSTS TO DETERMINE THE APPROPRIATENESS OF THE INVESTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melvin Billingsley PHD President/ce | OfficerTrustee | 40 | $371,192 |
Ron Thiboutot PHD Executive VP | Officer | 40 | $296,483 |
Steve Carpenter Senior VP | Officer | 40 | $215,253 |
Marlin Miller Director | Trustee | 5 | $0 |
Robert Naismith PHD Director | Trustee | 5 | $0 |
Philip B Fleck Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,203,670 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,203,670 |
| Total Program Service Revenue | $47,500 |
| Investment income | $114,172 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $877,293 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,242,635 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $882,928 |
| Compensation of current officers, directors, key employees. | $595,399 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,837 |
| Pension plan accruals and contributions | $33,570 |
| Other employee benefits | $270,820 |
| Payroll taxes | $29,480 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,891 |
| Fees for services: Accounting | $29,826 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,512 |
| Fees for services: Other | $106,281 |
| Advertising and promotion | $32,082 |
| Office expenses | $29,063 |
| Information technology | $14,536 |
| Royalties | $0 |
| Occupancy | $67,526 |
| Travel | $3,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,362 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,253 |
| Insurance | $42,723 |
| All other expenses | $13,374 |
| Total functional expenses | $1,662,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,781 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $675,598 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,440 |
| Net Land, buildings, and equipment | $6,758 |
| Investments—publicly traded securities | $5,989,381 |
| Investments—other securities | $0 |
| Investments—program-related | $15,491,801 |
| Intangible assets | $0 |
| Other assets | $6,380 |
| Total assets | $22,549,139 |
| Accounts payable and accrued expenses | $159,712 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $159,712 |
| Net assets without donor restrictions | $22,389,427 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,549,139 |
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|---|---|---|
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Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Can Do Inc Hazleton, PA | $88,120,031 | $19,938,198 |
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Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
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