Civic Intelligence

Bbg Advanced Therapies

990 • Fiscal year 2018 • EIN 46-2216869

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

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

99th percentile

2.17x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

4.13x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

2nd percentile

-148%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

67th percentile

$235,903

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

8th percentile

-11%

Faster asset growth than 8% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

7th percentile

-39%

Faster revenue growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$17,290,389

Down $2,076,782 (-11%) from 2017

Net Assets

Down

-$20,291,668

Down $13,495,444 (-199%) from 2017

Liabilities

Up

$37,582,057

Up $11,418,662 (+44%) from 2017

Revenue

Down

$9,093,139

Down $5,811,259 (-39%) from 2017

Expenses

Up

$22,588,583

Up $3,654,153 (+19%) from 2017

Net Income

Down

-$13,495,444

Down $9,465,412 (-235%) from 2017

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

2018

Assets$17,290,389
Liabilities$37,582,057
Net Assets-$20,291,668

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

2018

Revenue$9,093,139
Expenses$22,588,583
Net Income-$13,495,444
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$9,878,752
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 a subsidiary of san antonio-based nonprofit biobridge global and is focused on enabling the development of cell-based therapies (see schedule o)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,986,806$5,332,943▲ $2,346,137
Accounts Receivable$3,480,536$3,081,644▼ $398,892
Inventories for Sale or Use$5,940,173$2,952,802▼ $2,987,371
Other Notes and Loans Receivable, Net$2,650,000$2,650,000→ $0
Intangible Assets$2,571,478$1,825,865▼ $745,613
Investments Program Related$1,299,999$1,249,999▼ $50,000
Prepaid Expenses and Deferred Charges$212,574$105,073▼ $107,501
Cash and Non-Interest-Bearing Accounts$225,605$92,063▼ $133,542
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$19,367,171$17,290,389▼ $2,076,782
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$23,591,522$33,884,526▲ $10,293,004
Unsecured Notes Loans Payable$1,313,453$2,306,984▲ $993,531
Accounts Payable and Accrued Expenses$1,258,420$1,390,547▲ $132,127
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$26,163,395$37,582,057▲ $11,418,662
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,232,547$444,455▼ $788,092
Permanently Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-8,028,771$-20,736,123▼ $12,707,352
Total Net Assets Fund Balance$-6,796,224$-20,291,668▼ $13,495,444
Total Liabilities and Net Assets / Fund Balance$19,367,171$17,290,389▼ $2,076,782

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,204,498$3,035,857$5,240,355
Other Land Buildings$2,115,594$307,730$2,423,324
Buildings$970,577$239,154$1,209,731
Leasehold Improvements$42,274$10,765$53,039
Investment Program Related Org$1,249,999--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Becky CapCOOFT$207,539$28,364$235,903
Michael James FiskeVP Cell ManufacturingFT$169,711$37,976$207,687
Pamela Brown BaerVP OperationsFT$151,741$24,743$176,484
Sean Allan ThompsonSr Director Bus Ops & New ProdFT$116,474$55,686$172,160
Rogelio ZamilpaDirector Apheresis & Cord BlooFT$140,482$27,227$167,709
William G Elliott IiiDirector Tissue Center Donor SFT$138,981$13,638$152,619
Richard JuarezExecutive Director, Tissue CENPT$82,755$12,118$94,873

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$111,085
Revenue and Support

Revenue Composition

Contributions and Grants
$569,065
Program Service Revenue
$12,192,034
Investment Income
$-653,099
Other Revenue
$-3,014,861
All Other Contributions
$281,000
Change in Net Assets
$-13,495,444

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,812,139
Revenue Not Reported on Financial Statements
$281,000
Revenue Not Reported on Form 990
$1,069,092
Other Revenue Adjustments
$281,000
Total Revenue per Audited Statements
$9,881,231
Total Revenue per Form 990
$9,093,139
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,844,136
Salaries, Compensation, and Employee Benefits$9,744,447
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,876,754--$7,876,754
Other Expenses$255,969$4,513,819-$4,513,819
Fees for Services Other$2,178,014--$2,178,014
Occupancy$1,081,092--$1,081,092
All Other Expenses$724,231--$724,231
Payroll Taxes$586,077--$586,077
Other Employee Benefits$547,503--$547,503
Current Officers, Directors, Trustees, and Key Employees$403,916--$403,916
Depreciation Depletion$372,814--$372,814
Pension Plan Contributions$330,197--$330,197
Office Expenses$282,031--$282,031
Travel$218,433--$218,433
Advertising$93,114--$93,114
Information Technology$91,592--$91,592
Conferences and Meetings$68,984--$68,984
Interest$33,730--$33,730
Insurance-$11,389-$11,389
Fees for Services Accounting-$8,797-$8,797
Total Functional Expenses$18,054,578$4,534,005$0$22,588,583

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$22,588,583
Total Expenses per Audited Statements$22,588,583
Total Expenses per Form 990$22,588,583
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$33,884,526
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. 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
2019-11-15
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
158
Volunteers
153

Preparer

Firm
Bkd Llp
Address
10001 REUNION PLACE SUITE 400, SAN ANTONIO, TX 78216-4137
Preparer
Kevin Ensminger
Phone
2103419400
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Description of organization's mission or most significant activities: by providing end-to-end capabilities in cgmp biomanufacturing experience and clinical research support. Gencure focuses on regenerative medicine through the texas cord blood bank, a biomanufacturing facility, an apheresis center and a deceased donor tissue bank.

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

The national marrow donor program has completed over 100 community registrations events to onboard 9,522 new members to the be the match registry. The cellular therapy program also facilitated 86 possible life-saving donation procedures. 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 2018, the tissue center prepared 17,615 tissue products. In 2018, the gencure biomanufacturing center(gbc) opened a set of dedicated cgmp biomanufacturing suites and began production of bone marrow-derived master cell banks, working cell banks, and media supplements to support the development of potential new lifesaving therapies. In 2018, gbc completed a site selection and began facility design for expansion of its cgmp biomanufacturing suites. Finally, gbc continued to meet milestones on an mtec contract that enables the scale-up of mesenchymal stem cell production into 80l bioreactors, responding to increasing needs of the regenerative medicine industry.

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 $1,069,092

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

Line 1: temporarily restricted contributions $ 281,000

Raw XML AppendixShowing 400 of 783 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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