Biomedical Engineering Society
- Assets
- $5.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Landover, MD
- Founding
- 12/1970
- Data as of
- 06/2021
- EIN
- 36-6212451
Organization Overview
Biomedical Engineering Society is located in Landover, MD. The organization was established in 1970. According to its NTEE Classification (G92) the organization is classified as: Biomedicine & Bioengineering, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2021, Biomedical Engineering Society employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biomedical Engineering Society 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 06/2021, Biomedical Engineering Society generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE DEVELOPMENT, INTEGRATION, AND UTILIZATION OF KNOWLEDGE IN THE BIOMEDICAL ENGINEERING FIELD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING: BIOMEDICAL ENGINEERING SOCIETY CONTINUED THE TRADITION OFFERING AN EXCELLENT TECHNICAL CONTENT AND A MEETING ENVIRONMENT THAT OFFERED MANY OPPORTUNITIES FOR DISCUSSION AND SOCIAL INTERACTION. HIGHLIGHTS OF THE MEETING INCLUDED TOPICS ON ARTIFICIAL ORGANS, CARDIOVASCULAR SYSTEM, BIOMATERIALS, CELLULAR ENGINEERING, NEURAL ENGINEERING, BIOMECHANICS,TISSUE ENGINEERING, JOB FAIR AND EXHIBITION.
SPECIAL INTEREST GROUPS: THE ORGANIZATION HAS ESTABLISHED A PROCESS FOR MEMBERS OF THE SOCIETY WHO HAVE AN INTEREST IN FORMING SPECIAL INTEREST GROUPS (SIGS). THE PURPOSE OF SIGS ARE TO PROVIDE NETWORKING OPPORTUNITIES FOR THE EXCHANGE OF INFORMATION AND IDEAS IN A SPECIFIC RESEARCH AREA, TO PROVIDE MEMBERS WITH A FORUM TO NETWORK AND DISCUSS ISSUES RELEVANT TO THIS RESEARCH AREA, TO PROVIDE THE SOCIETY WITH A DIRECT AVENUE TO MEMBERS WITH SPECIFIC EXPERTISE AND TO PROVIDE MEMBERS WITH AN AVENUE FOR PROFESSIONAL DEVELOPMENT WITHIN A SPECIFIC RESEARCH AREA.
MEMBERSHIP: THE MEMBERSHIP CONSISTED OF A WIDE VARIETY OF PROFESSIONALS AND LEADERS THAT WERE HELPFUL IN THE PROFESSIONAL DEVELOPMENT AND CONTRIBUTED TO THE PURSUIT OF EXCELLENCE IN THE FIELD OF BIOMEDICAL ENGINEERING. THERE ARE SEVERAL CATEGORIES OF MEMBERSHIP; REGULAR MEMBERS, ASSOCIATE MEMBERS, STUDENT MEMBERS, EMERITIS MEMBERS, AND CORPORATE MEMBERS. BMES PUBLISHES A MONTHLY PEER-REVIEWED SCIENTIFIC JOURNAL WHICH IS INCLUDED IN THE MEMBERSHIP FEE OF REGULAR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Novesky Managing Director | 40 | $135,500 | |
Charity Quick Executive Director | OfficerTrustee | 40 | $124,721 |
Michele Ciapa Education Director | 40 | $122,000 | |
Valerie Kolmaiser Operations & Finance Direc | 40 | $113,167 | |
Dawn Elliott Immediate Past President | OfficerTrustee | 2 | $0 |
John White PHD President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $525,955 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,580 |
| Noncash contributions included in lines 1a–1f | $3,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $571,885 |
| Total Program Service Revenue | $906,320 |
| Investment income | $116,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $343,582 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,962,759 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $41,280 |
| 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 | $272,399 |
| Other salaries and wages | $710,145 |
| Pension plan accruals and contributions | $56,921 |
| Other employee benefits | $77,560 |
| Payroll taxes | $78,108 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,293 |
| Fees for services: Accounting | $30,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,978 |
| Fees for services: Other | $80,547 |
| Advertising and promotion | $446 |
| Office expenses | $12,287 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $107,281 |
| Travel | $813 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $261,266 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,190 |
| Insurance | $12,387 |
| All other expenses | $13,504 |
| Total functional expenses | $1,953,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $467,854 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,277 |
| 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 | $127,543 |
| Net Land, buildings, and equipment | $13,130 |
| Investments—publicly traded securities | $4,791,730 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,817 |
| Total assets | $5,416,351 |
| Accounts payable and accrued expenses | $101,499 |
| Grants payable | $0 |
| Deferred revenue | $659,863 |
| 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 | $404,258 |
| Total liabilities | $1,165,620 |
| Net assets without donor restrictions | $2,520,725 |
| Net assets with donor restrictions | $1,730,006 |
| 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 | $5,416,351 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Biomedical Engineering Society has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $30,000 |
Washington University Saint Louis, MO PURPOSE: SPONSORSHIP | $10,000 |
Endowment Analysis
| Beg. Balance | $611,156 |
| Earnings | $76,728 |
| Net Contributions | $30,000 |
| Other Expense | $17,505 |
| Ending Balance | $700,379 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Biophysical Society Rockville, MD | $21,767,056 | $3,664,185 |
Biomedical Engineering Society Landover, MD | $5,416,351 | $1,962,759 |
Council For Biotechnology Information Washington, DC | $0 | $2,024,655 |
American Institute For Medical And Bioligical Engineering Washington, DC | $4,121,997 | $963,729 |
Arm Foundation For Regenerative Medicine Education & Research Baltimore, MD | $214,306 | $493,318 |
Schmincke Research Alliance Inc Towson, MD | $666,033 | $89,819 |
Virginia Biomedical Association Chesapeake, VA | $32,214 | $0 |