Forward Biolabs Inc

Analysis

Forward Biolabs Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in March 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Forward Biolabs Inc reported income of $828k and spending of $609k, leaving 27% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income fell from $997k to $828k (-17%), an average of -6.0% a year. The sharpest change came in the year to June 2022, when income dropped by 30%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Forward Biolabs Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within WI. Charities of a similar size with the same main cause include Woodlawn Arts Academy ($828k), St George Childrens Museum ($828k) and Florida Council on Economic Education Inc ($828k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $239k (39% of expenses). Other salaries and wages came to $110k. At year end it held assets of $2.4m against liabilities of $79k, net assets of $2.4m.