Broad Hollow Bioscience Park Inc

Analysis

Broad Hollow Bioscience Park Inc is a registered charity in United States, based in Farmingdale, NY. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Broad Hollow Bioscience Park Inc reported income of $2.2m and spending of $6.0m, spending 277% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $2.2m (+89%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 156%. Over the whole period it spent 228% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Broad Hollow Bioscience Park Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Vip Vocational Services Inc Cape Girardeau Community Shelter ($2.2m), Midwest Community Real Estate Corporation ($2.2m) and Civic Design Center ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 70% of the total. Compensation of current officers, directors and key employees was $137k (2.3% of expenses). Other salaries and wages came to $278k. At year end it held assets of $24.9m against liabilities of $407k, net assets of $24.5m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.