Food Allergy Science Initiative Inc
- Assets
- $6.3m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Boston, MA
- Founding
- Data as of
- 06/2024
- EIN
- 85-1293789
Organization Overview
Food Allergy Science Initiative Inc is located in Boston, MA. As of 06/2024, Food Allergy Science Initiative Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Allergy Science Initiative 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 06/2024, Food Allergy Science Initiative Inc generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $4.7m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Food Allergy Science Initiative Inc has awarded 28 individual grants totaling $15,877,280. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE THE DEVELOPMENT OF BREAKTHROUGH DISCOVERIES THAT WILL TRANSFORM THE LIVES OF PEOPLE LIVING WITH FOOD ALLERGIES. (SEE SCHEDULE O FOR CONTINUATION)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Walter CEO Through 6/30/2023 | Officer | 40 | $401,302 |
Carlos Bosques CEO | Officer | 40 | $363,414 |
Christopher John Beneduce Jr Principal Scientist | 40 | $111,057 | |
Christine Olsen MD Board Chair, Director | OfficerTrustee | 1 | $0 |
Lesley Solomon MBA Director | OfficerTrustee | 1 | $0 |
Justine Levin-Allerhand PHD Treasurer, Director | OfficerTrustee | 1 | $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 | $6,274,385 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,274,385 |
| Total Program Service Revenue | $0 |
| Investment income | $386,556 |
| 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 | $6,661,862 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,917,301 |
| 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. | $393,757 |
| Compensation of current officers, directors, key employees. | $139,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $641,959 |
| Pension plan accruals and contributions | $23,724 |
| Other employee benefits | $30,990 |
| Payroll taxes | $59,606 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,068 |
| Fees for services: Accounting | $50,224 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $321,223 |
| Advertising and promotion | $85,818 |
| Office expenses | $10,308 |
| Information technology | $27,606 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,016 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,635 |
| Insurance | $18,669 |
| All other expenses | $0 |
| Total functional expenses | $4,694,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,323,980 |
| 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 | $14,254 |
| Net Land, buildings, and equipment | $2,238 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,340,472 |
| Accounts payable and accrued expenses | $222,769 |
| Grants payable | $3,575,422 |
| 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 | $3,798,191 |
| Net assets without donor restrictions | $2,542,281 |
| 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 | $6,340,472 |
Grants Awarded
Over the last fiscal year, Food Allergy Science Initiative Inc has awarded $2,898,557 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BRIGHAM AND WOMEN'S HOSPITAL PURPOSE: Research | $300,000 |
THE BROAD INSTITUTE INC PURPOSE: Research | $973,557 |
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: Research | $300,000 |
YALE UNIVERSITY PURPOSE: Research | $1,050,000 |
NORTHWESTERN UNIVERSITY PURPOSE: RESEARCH | $100,000 |
ARIZONA STATE UNIVERSITY PURPOSE: RESEARCH | $75,000 |