Algae Biomass Organization
- Assets
- $19.3k
- Revenue
- $380.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Des Moines, IA
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 26-2691686
Organization Overview
Algae Biomass Organization is located in Des Moines, IA. The organization was established in 2009. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Algae Biomass Organization employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Algae Biomass Organization is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Algae Biomass Organization generated $380.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.7%) each year. All expenses for the organization totaled $402.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ORAGNIZATION'S PRIMARY PURPOSE: THE ALGAE BIOMASS ORGANIZATION ("ABO") IS ORGANIZED EXCLUSIVELY AS AN INDEPENDENT TRADE ASSOCIATION WHICH QUALIFIES AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE OF 1986.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABO HOSTED THE 17TH ANNUAL ALGAE BIOMASS SUMMIT OCTOBER 8-11, 2023 IN MADISON, WI. WITH OVER 230 ATTENDEES FROM MORE THAN 10 COUNTRIES, THE EVENT FEATURED MULTIPLE KEYNOTE SPEAKERS AS WELL AS BREAKOUT SESSION WITH DEDICATED TRACKS. IN ADDITION THE SUMMIT HAD OVER 18 TRADE SHOW EXHIBITORS, MULTIPLE SPONSORS AND OVER 30 POSTER SESSIONS. THE ALGAE BIOMASS SUMMIT HAS BECOME THE MOST RENOWNED ALGAE CONFERENE IN THE WORLD ATTRACTING LEADERS FROM EVERY QUARTER OF THIS DYNAMIC INDUSTRY.
COMMON EXPENSES
A). ALGAE BIOMASS SUMMIT - FIRST IN PERSON, LIVE EVENT SINCE 2019. ELECTED OFFICIALS, GOVERNMENTAL OFFICIALS, CEOS, BUSINESS EXECUTIVES, SCIENTIFIC LEADERS, STUDENTS AND RESEARCHERS FROM OVER 10 COUNTRIES ALL GATHERED IN MADISON, WI OVER THE COURSE OF THREE DAYS (OCT 8-11, 2023) TO SHARE THE LATEST DEVELOPMENTS IN THE ALGAE SPACE AND PLAN FOR THE FUTURE. NOTABLY WE HAD KEYNOTES FROM VALERIE REED, DIRECTOR OF DOE BIOENERGY TECHNOLOGIES OFFICE, CHARLES DIMMLER, CEO OF CHECKERSPOT (A LEADING BIO- BASED ALGAE COMPANY) AND VITOR VERDELHO, DIRECTOR OF EUROPEAN ALGAE BIOMASS ASSOCIATION. WE ALSO HAD MULTIPLE BREAKOUT SESSIONS ON VARIOUS TOPICS TO INCLUDE ALGAE FOR WASTEWATER TREATMENT, REGENERATIVE AGRICULTURE, ALGAE FOR FEED, ALGAE FOR FOOD. WE HAD A ROBUST EXHIBIT HALL SHOWCASING ALGAE COMPANIES AND THEIR TECHNOLOGIES FROM THE U.S. AND SEVERAL COUNTRIES. IN ADDITON, WE HOSTED TO OFF-SITE TOURS OF A NEW STATE OF THE ART ALGAE BASED WASTEWATER TREATMENT FACILITY AND AN ANALYTICAL LABORATORY. B). MEMBER ENGAGEMENT - ABO CONTINUES TO PROMOTE WAYS TO INCREASE MEMBER ENGAGEMENT, DISCOURSE AND DIALOGUE. NEW FOR 2023, WE CREATED TWO NEW ADVISORY COMMITTEES (SAF AND WATER AND ENVIRONMENTAL RESOURCES). BOTH COMMITTEES MEET FREQUENTLY TO SHARE INFORMAITON AND DISCUSS POLICY EFFORTS AND PRIORITIES. WE ALSO ARE WORKING TO RESURRECT OUR FEED AND FOOD COMMITTEE AND CREATE A NEW REGENERATIVE AGRICULTURE ADVISORY COMMITTEE. C). MEMBER AFFINITY PROGRAMS - ABO LAUNCHED AN AFFINITY PROGRAM WITH EUROFINS CRAFT LABORATORIES TO OFFER OUR MEMBERS DISCOUNTS ON ANALYTICAL TESTING SERVICES. D). MEMBER COMMUNICATION - ABO CONTINUES TO SHARE/DISSEMINATE RELEVANT CONTENT TO OUR MEMBERS THROUGH MONTHLY NEWSLETTERS AND THROUGH FREQUENT LINKENIN POSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Byrne Treasurer | OfficerTrustee | $0 | |
John Benemann Director | Trustee | $0 | |
David Hazlebeck Director | Trustee | $0 | |
David Ramjohn Director | Trustee | $0 | |
Mike Lamont President | OfficerTrustee | $0 | |
Jennifer Johansen Past Preside | OfficerTrustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Renaissance Glendale Conference | 12/30/16 | $204,213 |
Scoville Pr Marketing | 12/30/16 | $119,647 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $144,340 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $144,340 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $380,166 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,337 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,500 |
| Payroll taxes | $6,649 |
| Fees for services: Management | $41,667 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $10,580 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,250 |
| Office expenses | $8,252 |
| Information technology | $1,779 |
| Royalties | $0 |
| Occupancy | $6,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200,286 |
| Interest | $7,521 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,945 |
| All other expenses | $0 |
| Total functional expenses | $401,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,132 |
| Savings and temporary cash investments | $1,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,277 |
| Accounts payable and accrued expenses | $55,225 |
| Grants payable | $0 |
| Deferred revenue | $46,210 |
| 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 | $101,435 |
| Net assets without donor restrictions | $0 |
| 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 | -$82,158 |
| Total liabilities and net assets/fund balances | $19,277 |