Biocom Institute
- Assets
- $371.7k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 11
- Location
- San Diego, CA
- Founding
- 05/2008
- Data as of
- 12/2021
- EIN
- 26-1852884
Organization Overview
Biocom Institute is located in San Diego, CA. The organization was established in 2008. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2021, Biocom Institute employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biocom Institute 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, Biocom Institute generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 8.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
BIOCOM INSTITUTE IS A 501(C)(3) ORGANIZATION ESTABLISHED IN 2008 BY BIOCOM, THE LARGEST AND MOST EXPERIENCED ADVOCATE FOR CALIFORNIA'S LIFE SCIENCE SECTOR.OUR MISSION IS TO DEVELOP AND PROMOTE A SKILLED AND DIVERSE PIPELINE OF TALENT TO ACCELERATE THE GROWTH OF THE CALIFORNIA'S LIFE SCIENCE ECOSYSTEM. WE COLLABORATE WITH THE LIFE SCIENCE INDUSTRY, GOVERNMENT, NON-PROFITS, THE K-12 AND COMMUNITY COLLEGE SYSTEMS, INSTITUTIONS OF HIGHER EDUCATION, AND OTHER STAKEHOLDERS TO MEET AND ANTICIPATE THE WORKFORCE NEEDS OF THE LIFE SCIENCE COMMUNITY, AND TO PROMOTE THE ADVANCEMENT OF LIFE SCIENCE TALENT THROUGHOUT THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ILLUMINA ARE PARTNERING WITH BIOCOM INSTITUTE TO CREATE AN EDUCATIONAL COMMUNITY WHERE TEACHERS CAN LEARN AND CONNECT WITH THE WORLD OF GENOMICS. ILLUMINA GENOMIC DISCOVERIES PROVIDES OPPORTUNITIES FOR TEACHERS TO ACCESS GENOMICS-FOCUSED PROFESSIONAL DEVELOPMENT, REAL-WORLD CURRICULUM AND INDUSTRY CONNECTIONS. IT IS OUR HOPE TO EMPOWER TEACHERS TO CREATE MEANINGFUL EXPERIENCES FOR STUDENTS AROUND GENOMICS AND INSPIRE THE NEXT GENERATION TO PURSUE CAREERS IN LIFE SCIENCES.
PROFESSIONAL DEVELOPMENT FOR LIFE SCIENCE PROFESSIONALS THROUGH OUR EDUCATION PARTNERS, WE OFFER SEVERAL COURSES THAT HELP LIFE SCIENCE PROFESSIONALS ACHIEVE PERSONAL AND PROFESSIONAL DEVELOPMENT. BIOCOM MEMBERS RECEIVE EXCLUSIVE DISCOUNTS.
WORKFORCE PROGRAM, WHICH INCLUDES VETERANS. COMPLETE WITH JOB SKILLS WORKSHOPS, AN INDUSTRY-FOCUSED CAREER FAIR AND MENTORSHIP PAIRING, THIS PROGRAM PROVIDES A HOLISTIC APPROACH TO ADDRESSING SKILLS GAPS, HIRING AND JOB-SEARCH CHALLENGES, AND A UNIQUE DIRECT CONNECTION BETWEEN VETERANS AND THE LIFE SCIENCE INDUSTRY.
REMAINING OTHER - AMGEN, DEI INITIATIVE, GOLF FUNDRAISER, LA BIOSTART, LSXP, LSYL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karmin Noar Executive Director | 40 | $184,294 | |
Joseph D Panetta President & CEO | OfficerTrustee | 1 | $0 |
Stacy Solirio Director | Trustee | 0.5 | $0 |
Deborah Wafer Director | Trustee | 0.5 | $0 |
Willie Zuniga Director | Trustee | 0.5 | $0 |
David Webb PHD Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beyond Benefits Life Science Association Medical/dental/vision/life Benefits | 12/30/21 | $143,297 |
Leadership Edge Inc Education Program Expense | 12/30/21 | $100,220 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $109,020 |
| Related organizations | $471,696 |
| Government grants | $228,938 |
| All other contributions, gifts, grants, and similar amounts not included above | $971,722 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,781,376 |
| Total Program Service Revenue | $245,750 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$88,214 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,938,912 |
| 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. | $184,294 |
| Compensation of current officers, directors, key employees. | $44,368 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $538,121 |
| Pension plan accruals and contributions | $20,181 |
| Other employee benefits | $147,978 |
| Payroll taxes | $57,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,889 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,697 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,695 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $983 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,486,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $189,592 |
| 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 | $1,396 |
| Net Land, buildings, and equipment | $450 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,500 |
| Total assets | $371,676 |
| Accounts payable and accrued expenses | $174,424 |
| Grants payable | $0 |
| Deferred revenue | $80,925 |
| 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 | $37,029 |
| Total liabilities | $292,378 |
| Net assets without donor restrictions | $79,298 |
| 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 | $371,676 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Biocom Institute has recieved totaling $476,830.
| Awarding Organization | Amount |
|---|---|
Illumina Corporate Foundation Wilmington, DE PURPOSE: ILLUMINA GENOMICS DISCOVERIES | $230,000 |
Illumina Corporate Foundation Wilmington, DE PURPOSE: GENOMIC DISCOVERIES PROGRAM DEVELOPMENT AND IMPLEMENTATION | $150,000 |
Illumina Corporate Foundation Wilmington, DE PURPOSE: VIRTUAL SIMULATION WORK FOR STEM EDUCATION | $47,830 |
Conrad Prebys Foundation San Diego, CA PURPOSE: LIFE SCIENCE YOUNG LEADERS FELLOWSHIP PROGRAM | $15,000 |
Evans Family Foundation Rancho Santa Fe, CA PURPOSE: AID ORGANIZATION WITH ITS MISSION TO SUPPORT LIFE SCIENCE INNOVATIONS | $15,000 |
General Atomics Sciences Education Foundation San Diego, CA PURPOSE: CONTRIBUTION | $6,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wadhwani Institute For Artificial Intelligence Foundation Los Altos, CA | $3,256,790 | $7,610,704 |
Imec Inc San Francisco, CA | $1,494,519 | $4,897,734 |
Scintillon Institute San Diego, CA | $1,260,479 | $3,205,276 |
Kestrel Institute Palo Alto, CA | $2,764,272 | $3,386,483 |
Open Research Lab Inc Oakland, CA | $10,022,134 | $10,163,260 |
Sierra Institute For Community And Taylorsville, CA | $4,935,635 | $3,987,418 |
Phoenix Bioinformatics Corporation Newark, CA | $2,438,726 | $1,432,149 |
Scientific Analysis Corp Alameda, CA | $2,082,230 | $1,446,716 |
Biocom Institute San Diego, CA | $371,676 | $1,938,912 |
Group Conscience San Diego, CA | $762,518 | $582,951 |
Project Invent San Francisco, CA | $570,134 | $1,005,665 |
California Biotechnology Foundation Sacramento, CA | $67,850 | $860,600 |