Launchbio Inc
- Assets
- $197.4k
- Revenue
- $424.5k
- Investments
- $0.0
- Employees
- 2
- Location
- San Diego, CA
- Founding
- 05/2016
- Data as of
- 12/2021
- EIN
- 47-4851964
Organization Overview
Launchbio Inc is located in San Diego, CA. The organization was established in 2016. According to its NTEE Classification (U02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Launchbio Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Launchbio Inc 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, Launchbio Inc generated $424.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $452.4k 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
TO BUILD AN ECOSYSTEM OF INNOVATION FOR THE BENEFIT OF HUMAN HEALTH AND WELL-BEING BY CONNECTING ENTREPRENEURS WITH KNOWLEDGE, CAPITAL AND TALENT - INCLUDING EACH OTHER - NOT ONLY WITHIN GEOGRAPHICAL REGIONS, BUT ACROSS THE NATIONAL LEADING LIFE SCIENCE HUBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUNCHBIO'S MISSION AND IMPACT:LAUNCHBIO IDENTIFIES, COUNSELS, AND SUPPORTS HIGH-GROWTH, HIGH-IMPACT LIFE SCIENCE AND BIOTECHNOLOGY COMPANIES.ITS MISSION IS TO BUILD AN ECOSYSTEM OF INNOVATION FOR THE BENEFIT OF HUMAN HEALTH AND WELL-BEING.LAUNCHBIO'S IMPACT IS MEASURED BY ITS SUCCESS IN CONNECTING ENTREPRENEURS WITH KNOWLEDGE, CAPITAL AND TALENT - INCLUDING EACH OTHER - NOT ONLY WITHIN GEOGRAPHIC REGIONS, BUT ACROSS THE NATION'S LEADING LIFE SCIENCE HUBS.ENTREPRENEURS CAN SPEND THEIR TIME WORKING ON THEIR SCIENCE, WHILE LAUNCHBIO OFFERS EDUCATION ON BUILDING A BUSINESS, CONNECTING TO RESOURCES AND SUBJECT MATTER EXPERTS, AND INTRODUCTIONS TO FUNDING SOURCES. LAUNCHBIO PLACES ENTREPRENEURS AT THE HEART OF IT'S MISSION. STARTING A LIFE SCIENCE COMPANY IS CHALLENGING, AND IT CAN BE DIFFICULT TO GET THE HELP NEEDED TO ADVANCE AN IDEA, FIND PARTNERS AND FUNDING, AND NAVIGATE THE REGULATORY LANDSCAPE TO ACHIEVE SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Beattie CEO | Officer | 40 | $28,000 |
Richard Lin President | OfficerTrustee | 4 | $0 |
Joe Lee Treasurer | OfficerTrustee | 4 | $0 |
Michael Hostetler Director | Trustee | 4 | $0 |
Greg Bisconti Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $423,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $423,500 |
| Total Program Service Revenue | $1,037 |
| 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 | $424,539 |
| 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. | $28,000 |
| Compensation of current officers, directors, key employees. | $22,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,800 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,985 |
| Fees for services: Accounting | $32,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $314,275 |
| Advertising and promotion | $0 |
| Office expenses | $2,430 |
| Information technology | $947 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,187 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,667 |
| Insurance | $3,672 |
| All other expenses | $0 |
| Total functional expenses | $452,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,074 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $143,750 |
| 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 | $406 |
| Net Land, buildings, and equipment | $4,166 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $197,396 |
| Accounts payable and accrued expenses | $32,288 |
| 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 | $32,288 |
| Net assets without donor restrictions | -$61,139 |
| Net assets with donor restrictions | $226,247 |
| 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 | $197,396 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Launchbio Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Compass Science Communication Inc Milwaukie, OR | $2,159,423 | $876,290 |
Climate Access Inc Scotts Valley, CA | $207,042 | $531,136 |
Launchbio Inc San Diego, CA | $197,396 | $424,539 |
Harik Shazeer Labs Palo Alto, CA | $502,124 | $740 |
Disruption Forum Inc San Diego, CA | $426 | $0 |
Counter Culture Labs Oakland, CA | $32,642 | $0 |
Portland Chapter Of The Internation Al Institute Of Building Enclosure Portland, OR | $52,173 | $0 |
Lf Charities Inc San Francisco, CA | $0 | $0 |