Launchbio Inc

Analysis

Launchbio Inc is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 December 2023, Launchbio Inc reported income of $704k and spending of $664k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $704k (-36%), an average of -11% a year. The sharpest change came in the year to December 2021, when income dropped by 38%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Launchbio Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Island City Stage ($703k), Opera San Luis Obispo Inc ($704k) and Florida Keys History and Diving Museum Inc ($703k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $100k (15% of expenses). Other salaries and wages came to $66k. At year end it held assets of $410k against liabilities of $181k, net assets of $229k. It reported 2 employees.