Bioconnect Iowa

Analysis

Bioconnect Iowa is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in October 2013, 13 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, Bioconnect Iowa reported income of $7.3m and spending of $2.3m, leaving 69% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $7.3m (+377%), an average of +48% a year. The sharpest change came in the year to June 2023, when income rose by 307%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bioconnect Iowa sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IA. Charities of a similar size with the same main cause include Goleta Valley Professional Buildings Inc ($7.3m), Delaware Innovation Space Inc ($7.3m) and Philadelphia Visitor Center Corporation ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $369k (16% of expenses). Other salaries and wages came to $139k. At year end it held assets of $6.3m against liabilities of $88k, net assets of $6.2m. It reported 5 employees.