Association Of Bioscience Financial Officers
- Assets
- $216.8k
- Revenue
- $49.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Clara, CA
- Founding
- 07/1994
- Data as of
- 12/2021
- EIN
- 94-3187188
Organization Overview
Association Of Bioscience Financial Officers is located in Santa Clara, CA. The organization was established in 1994. According to its NTEE Classification (I03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Crime & Legal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Bioscience Financial Officers 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 12/2021, Association Of Bioscience Financial Officers generated $49.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (24.8%) each year. All expenses for the organization totaled $53.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (24.6%) per year over the past 7 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 PROVIDE A FORUM FOR THE EXCHANGE OF INFORMATION AND IDEAS ON FINANCIAL AND BUSINESS ISSUES RELEVANT TO THE BIOSCIENCE INDUSTRY. TO FOSTER A STRONG AFFILIATION BETWEEN SENIOR FINANCIAL EXECUTIVES THROUGH A VARIETY OF EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLANNED FOR THE ORGANIZATION'S ANNUAL CONFERENCE, WHICH HISTORICALLY HAS BEEN ATTENDED BY NEARLY 200 PARTICIPANTS. THE CONFERENCE ACTIVITIES FOR PAST CONFERENCES INCLUDED SEVERAL KEYNOTE SPEAKERS, WHO WERE SUBJECT-MATTER EXPERTS, A VARIETY OF BREAKOUT PANELS THAT COVERED INDUSTRY-SPECIFIC TOPICS, AND OTHER PANELS OR SESSIONS FOCUSED ON TECHNICAL AREAS RELEVANT TO FINANCIAL OFFICERS IN THE BIOSCIENCE INDUSTRY. DUE TO THE COVID PANDEMIC, THE CONFERENCE WAS DEFERRED TO 2022.
HELD THE ORGANIZATIONS ANNUAL TECHNICAL SESSION. THE SESSION INCLUDED BOTH AN INDUSTRY-RELATED PANEL OF SUBJECT-MATTER EXPERTS AND A TECHNICAL ACCOUNTING UPDATE BY A BIG 4 CPA FIRM. DUE TO THE COVID PANDEMIC, THE ANNUAL TECHNICAL SESSION WAS HELD VIRTUALLY IN 2021.
HELD MONTHLY BREAKFAST MEETING DURING THE YEAR AND ONE DINNER MEETING. DURING THESE MEETINGS, THE ATTENDEES DISCUSS AND EXCHANGE IDEAS AND INFORMATION ON RELEVANT ISSUES TO THE BIOSCIENCE INDUSTRY.
HELD A VIRTUAL SIX SESSION SPEAKER SERIES FROM MARCH TO JUNE 2021. DURING THESE SESSIONS, SUBJECT-MATTER EXPERTS DISCUSSED INDUSTRY SPECIFIC TOPICS RELEVANT TO FINANCIAL OFFICERS IN THE BIOSCIENCES INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Tucker Director, Chair, President, Secretary | OfficerTrustee | 4 | $0 |
Stephanie Wong Director, Treasurer | OfficerTrustee | 2 | $0 |
Marc Belsky Director | Trustee | 2 | $0 |
Joy Berberich Director | Trustee | 2 | $0 |
Olivia Bloom Director | Trustee | 2 | $0 |
Herb Cross Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $49,264 |
| 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 | $49,264 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $49,265 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,635 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $53,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,920 |
| Savings and temporary cash investments | $44,921 |
| 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 | $0 |
| 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 | $216,841 |
| Accounts payable and accrued expenses | $3,388 |
| 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 | $3,388 |
| 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 | $213,453 |
| Total liabilities and net assets/fund balances | $216,841 |
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