Civic Intelligence

Bbg Advanced Therapies

990 • Fiscal year 2017 • EIN 46-2216869

Jan 01, 2017 to Dec 31, 2017 • Filed on May 15, 2018

6211 Ih 10 WestSan Antonio, TX 78201

(210) 757-9505

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.35x

Higher debt load relative to assets than 97% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.76x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

9th percentile

-27%

Higher net margin than 9% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

70th percentile

$243,740

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

93rd percentile

43%

Faster asset growth than 93% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

85th percentile

39%

Faster revenue growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$19,367,171

Up $5,827,336 (+43%) from 2016

Net Assets

Down

-$6,796,224

Down $4,030,032 (-146%) from 2016

Liabilities

Up

$26,163,395

Up $9,857,368 (+60%) from 2016

Revenue

Up

$14,904,398

Up $4,168,046 (+39%) from 2016

Expenses

Up

$18,934,430

Up $3,535,410 (+23%) from 2016

Net Income

Up

-$4,030,032

Up $632,636 (+14%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0-$50MAssets 2015: $13,519,958Liabilities 2015: $11,623,482Net Assets 2015: $1,896,4762015Assets 2016: $13,539,835Liabilities 2016: $16,306,027Net Assets 2016: -$2,766,1922016Assets 2017: $19,367,171Liabilities 2017: $26,163,395Net Assets 2017: -$6,796,2242017Assets 2018: $17,290,389Liabilities 2018: $37,582,057Net Assets 2018: -$20,291,6682018Assets 2019: $26,611,393Liabilities 2019: $53,328,584Net Assets 2019: -$26,717,1912019Assets 2020: $25,453,948Liabilities 2020: $62,382,383Net Assets 2020: -$36,928,4352020Assets 2021: $16,636,977Liabilities 2021: $10,390,071Net Assets 2021: $6,246,9062021Assets 2022: $21,827,142Liabilities 2022: $14,793,055Net Assets 2022: $7,034,0872022Assets 2023: $18,815,048Liabilities 2023: $10,920,765Net Assets 2023: $7,894,2832023Assets 2024: $23,694,605Liabilities 2024: $26,413,626Net Assets 2024: -$2,719,0212024

Highlighted filing

2017

Assets$19,367,171
Liabilities$26,163,395
Net Assets-$6,796,224

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10M-$20MRevenue 2015: $12,564,105Expenses 2015: $12,582,287Net Income 2015: -$18,1822015Revenue 2016: $10,736,352Expenses 2016: $15,399,020Net Income 2016: -$4,662,6682016Revenue 2017: $14,904,398Expenses 2017: $18,934,430Net Income 2017: -$4,030,0322017Revenue 2018: $9,093,139Expenses 2018: $22,588,583Net Income 2018: -$13,495,4442018Revenue 2019: $15,446,044Expenses 2019: $21,802,879Net Income 2019: -$6,356,8352019Revenue 2020: $11,678,298Expenses 2020: $21,889,542Net Income 2020: -$10,211,2442020Revenue 2021: $3,990,807Expenses 2021: $10,638,729Net Income 2021: -$6,647,9222021Revenue 2022: $5,012,409Expenses 2022: $13,721,023Net Income 2022: -$8,708,6142022Revenue 2023: $5,040,198Expenses 2023: $15,033,401Net Income 2023: -$9,993,2032023Revenue 2024: $5,427,037Expenses 2024: $16,040,341Net Income 2024: -$10,613,3042024

Highlighted filing

2017

Revenue$14,904,398
Expenses$18,934,430
Net Income-$4,030,032
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 15, 2018
Return Version
2017v2.3
Gross Receipts
$14,904,398
Mission and Program Overview

Mission

Gencure's mission is to realize the potential of donated human cells and tissue to save and enhance lives.

Gencure is organized to provide cell and tissue services for regenerative medicine activities (see schedule o for additional information).

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$5,648,808$5,940,173▲ $291,365
Accounts Receivable$1,532,695$3,480,536▲ $1,947,841
Land, Buildings, and Equipment, Net$1,875,805$2,986,806▲ $1,111,001
Other Notes and Loans Receivable, Net$1,400,000$2,650,000▲ $1,250,000
Intangible Assets$2,571,478$2,571,478→ $0
Investments Program Related$50,000$1,299,999▲ $1,249,999
Cash and Non-Interest-Bearing Accounts$350,410$225,605▼ $124,805
Prepaid Expenses and Deferred Charges$110,639$212,574▲ $101,935
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$13,539,835$19,367,171▲ $5,827,336
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$13,722,876$23,591,522▲ $9,868,646
Unsecured Notes Loans Payable$1,553,039$1,313,453▼ $239,586
Accounts Payable and Accrued Expenses$1,030,112$1,258,420▲ $228,308
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$16,306,027$26,163,395▲ $9,857,368
Net Assets / Fund Balance
Temporarily Rstr Net Assets$343,186$1,232,547▲ $889,361
Permanently Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-3,109,378$-8,028,771▼ $4,919,393
Total Net Assets Fund Balance$-2,766,192$-6,796,224▼ $4,030,032
Total Liabilities and Net Assets / Fund Balance$13,539,835$19,367,171▲ $5,827,336

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,406,609$3,434,881$5,841,490
Leasehold Improvements$561,120$177,960$739,080
Other Land Buildings$19,077$202,180$221,257
Investment Program Related Org$50,000--
Buildings$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Becky CapCOOFT$197,669$46,071$243,740
Sean Allan ThompsonSee Schedule OFT$152,769$32,433$185,202
Alfredo E Cervera IiiDirector of SalesFT$133,289$50,961$184,250
Guillermo Burciaga RoblesSupervisor, Tissue RecoveryFT$124,959$18,233$143,192
Michael James FiskeVP Cell ManufacturingFT$126,416$11,884$138,300
Thomas William JohnsonVP SalesPT$14,082$4,736$18,818

Board Members and Trustees

NameTitle
Biobridge GlobalSole Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Bexar County ClerkMedical Examiner101 W NUEVA STE 800, San Antonio, TX 78205$201,684
Steris Isomedix ServicesTestingPO BOX 676548, Dallas, TX 75267-6548$185,772
Fortis Surgical SolutionsTissue Product Sales7219 ENERALD GLEN DRIVE, Sugarland, TX 77479$136,406
Revenue and Support

Revenue Composition

Contributions and Grants
$260,855
Program Service Revenue
$14,420,024
Investment Income
$130,115
Other Revenue
$93,404
All Other Contributions
$107,416
Change in Net Assets
$-4,030,032

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,796,982
Revenue Not Reported on Financial Statements
$2,107,416
Revenue Not Reported on Form 990
$1,218,055
Other Revenue Adjustments
$2,107,416
Total Revenue per Audited Statements
$14,015,037
Total Revenue per Form 990
$14,904,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,988,565
Salaries, Compensation, and Employee Benefits$7,617,074
Grants and Similar Amounts Paid$328,791
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,217,196--$6,217,196
Occupancy$1,120,554--$1,120,554
Fees for Services Other$1,078,287--$1,078,287
Other Employee Benefits$480,673--$480,673
Payroll Taxes$460,205--$460,205
Grants to Domestic Orgs$328,791--$328,791
Other Expenses$276,355$3,903,386-$276,355
Office Expenses$253,681--$253,681
Current Officers, Directors, Trustees, and Key Employees$243,740--$243,740
Depreciation Depletion$234,764--$234,764
Pension Plan Contributions$215,260--$215,260
Travel$169,430--$169,430
All Other Expenses$125,477--$125,477
Information Technology$84,389--$84,389
Fees for Services Legal$70,013--$70,013
Conferences and Meetings$69,741--$69,741
Advertising$54,663--$54,663
Fees for Services Lobbying$39,005--$39,005
Insurance-$12,393-$12,393
Fees for Services Accounting-$7,718-$7,718
Total Functional Expenses$15,010,933$3,923,497$0$18,934,430

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$18,934,430
Total Expenses per Audited Statements$18,934,430
Total Expenses per Form 990$18,934,430
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Blood & Tissue Center FoundationSan Antonio, TX501(c)(3)Operations$328,791
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payable$23,591,522
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6 - MEMBERS AND STOCKHOLDERS:

Biobridge global is the sole member of the corporation.

Form 990, Part VI, Section A, Line 8A - Document of Meetings or

Written actions by the governing body: meetings held and written actions undertaken were documented in the minutes of the meetings of biobridge global's board of directors.

Form 990, Part VI, Section B, Line 11B - Process to Review the

Form 990: the organization engages an outside accounting firm to prepare the form 990. Once prepared, the return is reviewed by the financial management staff from biobridge global, a related organization, prior to filing the return. A copy of the form 990 is provided to the executive committee of the board of directors of biobridge global prior to filing.

Form 990, Part VI, Section B, Line 12C - Compliance With Conflict

Of interest policy: a copy of the organization's conflict of interest policy is provided annually to all officers, key employees and board of directors of biobridge global. In addition, questionnaires are given out on an annual basis to all officers, key employees and board of directors which cover business and family relationships and various activities that have occurred over the course of the year. Every attempt is made to ensure that all forms are returned. Individuals who fail to return the requested forms or provide incomplete information are contacted by the organization.

Form 990, Part VI, Section B, Line 15A - Review of Ceo/top

Management compensation: in determining the top management official's compensation, the organization relied on biobridge global's process to assist in compensation decisions. The process of determining the top management compensation is disclosed on their form 990.

Form 990, Part VI, Section B, Line 15B - Review of Other

Officer's compensation: the organization relied on biobridge global's process to assist in compensation decisions. The process of determining other officer's compensation is disclosed on their form 990.

Form 990, Part VI, Section B, Line 16B - Policy for Arrangements

With taxable entities: the organization has not established written procedures but is committed to ensuring that any arrangements entered into safeguard the organization's exempt status. All contracts entered into by the organization are reviewed by biobridge global's general legal counsel to ensure the terms of the agreements do not jeopardize the organization's exemption and furthers its mission.

Form 990, Part VI, Section C, Line 19 - How Documents Are Made

Available to the public: any documents subject to open record requirements are made available upon request.

Form 990, Part VII, Section A & Schedule J, Part II - Title of

Sean d. Allan thompson: mr. Thompson's full title is senior director of business development & new product development.

Filing and Contact Details

Filer

Filer Name
Gencure
EIN
46-2216869
In Care Of
% BENJAMIN LOPEZ
Phone
2107579505
Address
6211 IH 10 WEST, SAN ANTONIO, TX 78201

Signing Officer

Name
Glenn Kues
Title
SVP, CFO
Phone
2107579505
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Martin J Landon
Formed
2013
Legal Domicile
TX
Voting Board Members
1
Independent Board Members
0
Employees
133
Volunteers
910

Preparer

Firm
Bkd Llp
Address
10001 REUNION PLACE SUITE 400, SAN ANTONIO, TX 78216-4137
Preparer
Edward Del Conte CPA
Phone
2103419400
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 & Form 990, Part III, Line 1 -

Description of organization's mission or most significant activities: including, without limitation: (i) bone marrow donor registration; (ii) cadaveric tissue services; (iii) umbilical cord blood bank services; (iv) peripheral blood stem cell and umbilical cord blood cellular therapy programs; and (v) clinical research.

FORM 990, PART III, LINE 4A PROGRAM SERVICE:

The national marrow donor program, a program of cellular therapy, registered 15,455 new members to the be the match registry. The tissue center collects and processes human tissues into function-restoring transplants that aid patients in repairing and regenerating a number of critical tissues. In 2017, the tissue center prepared 43,477 tissue products, boosted by demand for dental materials. In 2017, the gencure biomanufacturing center was formed. The production of both clinical-grade media supplement and mesenchymal stem cell banks was initiated for our first customer in existing cgmp-compliant gencure cleanroom space. By q4 2017 we had completed the construction of our new dedicated cell therapy clinical-scale cgmp facility.

Financial Statement Notes

SCHEDULE D, PART X, LINE 2 - ASC 740 FOOTNOTE:

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 2D - Amounts Included on Line 1 But Not on Form

990: net assets released from restrictions $1,218,055

Schedule D, Part XI, Line 4B - Amounts Included on Form 990 But Not on

Line 1: temporarily restricted contribution $2,107,416

Raw XML AppendixShowing 400 of 749 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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