Civic Intelligence

Bbg Advanced Therapies

990 • Fiscal year 2023 • EIN 46-2216869

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

79th percentile

0.58x

Higher debt load relative to assets than 79% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

89th percentile

2.17x

Higher debt load relative to revenue than 89% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

2nd percentile

-198%

Higher net margin than 2% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

79th percentile

$301,303

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

6th percentile

-14%

Faster asset growth than 6% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

40th percentile

0.6%

Faster revenue growth than 40% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$18,815,048

Down $3,012,094 (-14%) from 2022

Net Assets

Up

$7,894,283

Up $860,196 (+12%) from 2022

Liabilities

Down

$10,920,765

Down $3,872,290 (-26%) from 2022

Revenue

Up

$5,040,198

Up $27,789 (+0.6%) from 2022

Expenses

Up

$15,033,401

Up $1,312,378 (+9.6%) from 2022

Net Income

Down

-$9,993,203

Down $1,284,589 (-15%) from 2022

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

2023

Assets$18,815,048
Liabilities$10,920,765
Net Assets$7,894,283

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

2023

Revenue$5,040,198
Expenses$15,033,401
Net Income-$9,993,203
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$5,040,198
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 enables progress in the field of advanced therapies (also known as cell & gene therapies) by offering process and analytical (CONTINUED ON SCHEDULE O)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,617,843$11,018,762▼ $1,599,081
Inventories for Sale or Use$1,064,171$1,279,936▲ $215,765
Accounts Receivable$2,067,816$991,756▼ $1,076,060
Cash and Non-Interest-Bearing Accounts$138,260$154,464▲ $16,204
Prepaid Expenses and Deferred Charges$121,668$113,427▼ $8,241
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$21,827,142$18,815,048▼ $3,012,094
Other Assets Total$5,817,384$5,256,703▼ $560,681
Liabilities
Other Liabilities$6,341,139$6,167,743▼ $173,396
Mortgage Notes Payable Secured by Investment Property$5,836,922$4,159,848▼ $1,677,074
Accounts Payable and Accrued Expenses$2,614,994$593,174▼ $2,021,820
Total Liabilities$14,793,055$10,920,765▼ $3,872,290
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,034,087$7,894,283▲ $860,196
Total Net Assets Fund Balance$7,034,087$7,894,283▲ $860,196
Total Liabilities and Net Assets / Fund Balance$21,827,142$18,815,048▼ $3,012,094

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,523,425$4,560,389$12,083,814
Leasehold Improvements$3,015,661$1,041,325$4,056,986
Buildings$371,878$240,309$612,187
Other Land Buildings$107,798$49,065$156,863
Other Assets Org$5,256,703--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-VP, Gencure OperationsFT$225,505$63,152$288,656
-General Manager, Biomanufacturing (effective 01/29/23)FT$208,882$42,816$251,698
-Sr. Director, Mfg Sciences & TechnologyFT$183,046$58,116$241,163
-Sr. Director, Process Dev & Cell TherapiesFT$167,740$55,519$223,259
-Sr. Director,custom Solutions & Sales SupPT$167,113$36,857$203,969
-SR. DIRECTOR, PROGRAM MANAGEMENT (through 11/05/23)FT$133,563$23,866$157,429

Board Members and Trustees

NameTitle
-Sole Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Cam Pharmaceutical Consulting LLCBiotech Consulting Services1100 WOODBROOK WAY, Garner, NC 27529$116,079
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,018,815
Investment Income
$0
Other Revenue
$21,383
Change in Net Assets
$-9,993,203

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,040,198
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$5,040,198
Total Revenue per Form 990
$5,040,198
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,216,418
Salaries, Compensation, and Employee Benefits$3,816,983
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,910,572--$2,910,572
Depreciation Depletion$1,673,927--$1,673,927
Occupancy$1,030,423--$1,030,423
Other Employee Benefits$297,193--$297,193
Other Expenses$267,162$0$0$267,162
Office Expenses$262,652--$262,652
All Other Expenses$257,705$0$0$257,705
Current Officers, Directors, Trustees, and Key Employees$230,644--$230,644
Payroll Taxes$224,354--$224,354
Fees for Services Other$221,702$0$0$221,702
Pension Plan Contributions$154,220--$154,220
Interest$149,952--$149,952
Travel$87,224--$87,224
Information Technology$26,963--$26,963
Conferences and Meetings$12,457--$12,457
Insurance-$9,089-$9,089
Advertising$16--$16
Total Functional Expenses$10,041,362$4,992,039$0$15,033,401

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,033,401
Total Expenses per Audited Statements$15,033,401
Total Expenses per Form 990$15,033,401
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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
Operating Lease Liabilities$6,101,629
Intercompany Payables$66,114
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 35% controlled entity
No
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, Line 8A DOCUMENTATION 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, 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, 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, Line 6 Classes of members or stockholders

Biobridge global is the sole member of the corporation.

Form 990, Part VI, Line 11B Review of form 990 by governing body

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, Line 12C 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. In the event of a conflict of interest, the member subject to the conflict of interest must leave the discussion and voting on a transaction or arrangement that results in a conflict of interest. A committee of non-interested representatives shall be appointed to investigate alternatives to the proposed transaction or arrangement. The party with a conflict of interest is not permitted to advocate to other representatives prior to the vote. The committee is responsible for exercising due diligence in determining that the transaction is not more materially advantageous than a deal with a non-interested transaction.

Form 990, Part VI, Line 19 Required documents available to the public

Any documents subject to open record requirements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Gencure
EIN
46-2216869
Phone
2107579505
Address
6211 IH 10 WEST, SAN ANTONIO, TX 78201

Signing Officer

Name
John Youngdahl
Title
SVP, CFO
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
TX
Voting Board Members
1
Independent Board Members
0
Employees
35
Volunteers
1

Preparer

Firm
Forvis Mazars LLP
Address
8200 W Interstate 10 Suite 900, San Antonio, TX 78230-3806
Preparer
Robert Ulloa
Phone
2103419400
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 Brief Mission

GenCure enables progress in the field of advanced therapies (also known as cell & gene therapies) by offering process and analytical development, bioproduction; in-process and release testing, while leveraging a unified quality management system. We partner with our users with the end goal of clinical development in mind, supporting development of therapies often originating from academic research institutions.

Form 990, Part III, Line 4A DESCRIPTION OF ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES

GenCure enables progress in the field of advanced therapies (also known as cell & gene therapies) by offering process and analytical development, bioproduction, in-process and release testing, while leveraging a unified quality management system. We partner with our users with the end goal of clinical development in mind, supporting the development of therapies often originating from academic institutions. GenCure's clinical-scale facility opened in March 2020, The bioproduction space is compliant with FDA regulations, EU Annex 1 and PMDA (Grade A, B, C, D). Cleanrooms are sized for a wide range of production volumes and multi-product capabilities, which can meet the need of a variety of research programs. This facility includes 6,700 square feet of cleanroom production space, a 2,500-square-foot development lab, along with office and meeting space. Internally, GenCure utilizes electronic batch records using the MasterControl platform. The automation of the electronic batch record has demonstrated improved efficiency with regards to record completion, review, and approval, while maintaining a high level of compliance for document control. Regarding workforce development, the GenCure team expanded to include personnel from the local area through a partnership with the San Antonio for Growth on the Eastside organization. The GenCure team continues to increase the community support by actively participating in the Step into Stem program sponsored by Texas Research and Technology Foundation which provides mentoring to local students to increase awareness for STEM-based careers. The GenCure team has grown, in terms of personnel and capabilities, to meet the needs of our researchers developing these novel cures for oncology and rare diseases.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Equity transfer between related organizations - 10853399;

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.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1General Manager, Biomanufacturing (effective 01/29/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt2SR. DIRECTOR, PROGRAM MANAGEMENT (through 11/05/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt3SR. DIRECTOR,CUSTOM SOLUTIONS & SALES SUP
IRS990/Form990PartVIISectionAGrp/TitleTxt4SR. DIRECTOR, PROCESS DEV & CELL THERAPIES
IRS990/Form990PartVIISectionAGrp/TitleTxt5VP, GENCURE OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt6SR. DIRECTOR, MFG SCIENCES & TECHNOLOGY
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