Biobat Inc

Analysis

Biobat Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2014, 12 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, Biobat Inc reported income of $3.3m and spending of $4.0m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $3.3m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2020, when income rose by 54%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Biobat Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include New Town Macon Inc ($3.3m), Heartland Workforce Investment Boar ($3.3m) and Fac Center Local Development Corp ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.1% and program service revenue 93% of the total. Other salaries and wages came to $313k. At year end it held assets of $27.6m against liabilities of $882k, net assets of $26.7m.