Civic Intelligence

Launchbio Inc.

990 • Fiscal year 2017 • EIN 47-4851964

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 14, 2018

10210 Campus Point DriveSan Diego, CA 92121

(858) 724-2164

Siviq Scores

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

Liabilities / Assets

61st percentile

0.09x

Higher debt load relative to assets than 61% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

61st percentile

0.08x

Higher debt load relative to revenue than 61% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

90th percentile

44%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

96th percentile

153%

Faster asset growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

96th percentile

195%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Up

$619,265

Up $374,765 (+153%) from 2016

Net Assets

Up

$562,895

Up $318,395 (+130%) from 2016

Liabilities

Up

$56,370

Up $56,370 from 2016

Revenue

Up

$738,210

Up $488,210 (+195%) from 2016

Expenses

Up

$414,815

Up $409,315 (+7442%) from 2016

Net Income

Up

$323,395

Up $78,895 (+32%) from 2016

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2016: $244,500Liabilities 2016: $0Net Assets 2016: $244,5002016Assets 2017: $619,265Liabilities 2017: $56,370Net Assets 2017: $562,8952017Assets 2018: $434,506Liabilities 2018: $84,437Net Assets 2018: $350,0692018Assets 2019: $386,398Liabilities 2019: $178,663Net Assets 2019: $207,7352019Assets 2020: $238,968Liabilities 2020: $46,020Net Assets 2020: $192,9482020Assets 2021: $197,396Liabilities 2021: $32,288Net Assets 2021: $165,1082021Assets 2022: $188,917Liabilities 2022: $49Net Assets 2022: $188,8682022Assets 2023: $409,567Liabilities 2023: $180,933Net Assets 2023: $228,6342023Assets 2024: $341,828Liabilities 2024: $12,677Net Assets 2024: $329,1512024

Highlighted filing

2017

Assets$619,265
Liabilities$56,370
Net Assets$562,895

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $250,000Expenses 2016: $5,500Net Income 2016: $244,5002016Revenue 2017: $738,210Expenses 2017: $414,815Net Income 2017: $323,3952017Revenue 2018: $584,994Expenses 2018: $777,232Net Income 2018: -$192,2382018Revenue 2019: $1,101,547Expenses 2019: $1,243,881Net Income 2019: -$142,3342019Revenue 2020: $684,798Expenses 2020: $699,585Net Income 2020: -$14,7872020Revenue 2021: $424,539Expenses 2021: $452,379Net Income 2021: -$27,8402021Revenue 2022: $510,742Expenses 2022: $497,496Net Income 2022: $13,2462022Revenue 2023: $703,614Expenses 2023: $663,848Net Income 2023: $39,7662023Revenue 2024: $833,268Expenses 2024: $705,500Net Income 2024: $127,7682024

Highlighted filing

2017

Revenue$738,210
Expenses$414,815
Net Income$323,395
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 14, 2018
Return Version
2017v2.2
Gross Receipts
$738,210
Mission and Program Overview

Mission

LaunchBio identifies, counsels, and supports high-growth, high-impact life science and biotechnology companies. Its mission is to build an ecosystem of innovation for the benefit of human health and well-being. LaunchBios impact is measured by its success in connecting entrepreneurs with knowledge, capital and talent including each other not only within geographic regions, but across the nations leading life science hubs.

LaunchBio, Inc.'s mission is to identify, counsel and support high-growth, high-impact life science and biotechnology companies through regional and national collaboration with ecosystem partners. More on Schedule O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$399,250-
Cash and Non-Interest-Bearing Accounts$244,500$220,015▼ $24,485
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$244,500$619,265▲ $374,765
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$56,637-
Other Liabilities-$-267-
Total Liabilities$0$56,370▲ $56,370
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$356,250-
Unrestricted Net Assets$244,500$206,645▼ $37,855
Total Net Assets Fund Balance$244,500$562,895▲ $318,395
Total Liabilities and Net Assets / Fund Balance$244,500$619,265▲ $374,765
Compensation and Service Providers

Board Members and Trustees

NameTitle
Susie HarborthPresident
Richard LinDirector
Ted ChoiDirector
Nancy HongSecretary
Nancy HongTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Joan Siefert RoseConsultant10210 Campus Point Drive, San Diego, CA 92121$200,000
Revenue and Support

Revenue Composition

Contributions and Grants
$738,210
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$738,210
Change in Net Assets
$323,395
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$210,385
Salaries, Compensation, and Employee Benefits$204,430
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$120,000$80,000-$200,000
Advertising$35,718$21,574-$57,292
Travel$8,927$7,537-$16,464
Fees for Services Other$9,625$4,629-$14,254
Fees for Services Accounting$904$11,660-$12,564
Occupancy$10,000--$10,000
Fees for Services Legal$67$8,636-$8,703
Other Salaries and Wages-$3,179-$3,179
Insurance$1,022$1,390-$2,412
Other Expenses$946$1,099-$2,045
Information Technology$921$283-$1,204
Other Employee Benefits-$904-$904
All Other Expenses$495$117-$612
Office Expenses$224$170-$394
Payroll Taxes-$347-$347
Total Functional Expenses$273,290$141,525$0$414,815
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Draft of Form 990 provided to board of directors for review prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

LaunchBio's conflict of interest policy is located in the organization's bylaws. The bylaws require regular and consistent disclosure of all potential conflicts in addition to compliance and enforcement of the policy.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

Form 990 returns are made available to the public upon request.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Corporate documents made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
LaunchBio Inc
EIN
47-4851964
Phone
8587242164
Address
10210 Campus Point Drive, San Diego, CA 92121

Signing Officer

Name
Susie Harborth
Title
President
Signed
2018-06-14
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
For Purpose Law Group
Address
1435 30th Street, San Diego, CA 92102
Preparer
May L Harris Esq
Phone
6197803839
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Gifts in Kind = -$5000

Form 990, Part 1, Line 1 - Significant Activities

FY 2017 represented the first full year of program activities for LaunchBio, Inc., which began monthly educational events for early stage life sciences entrepreneurs in San Diego and created an operations plan for similar educational programs in Durham, North Carolina, with a planned January 2108 start date. LaunchBio also evaluated expansion opportunities in additional markets as the organization grows. The San Diego educational programs were funded in part by a $25,000 competitive economic development grant from the City of San Diego. LaunchBio initiated monthly "lunch and learns" in August on topics such as effective fundraising, communications skills, and commercialization of technology. LaunchBio also formed a partnership with the San Diego Unified School District to offer a week-long career immersion program for students at Clairemont High School and participated in the Life Sciences Summer Institute internship program run by the San Diego Workforce Partnership. LaunchBio secured multi-year sponsorship pledges and individual donations exceeding $700,000 which, including the grant funding, resulted in a nearly 3-fold increase in contributions from the previous fiscal year. The majority of the sponsorships came from North Carolina-based companies in anticipation of educational programs to be held in 2018 at the newly renovated Chesterfield Building in downtown Durham. LaunchBio established a website (www.launchbio.org), social media program, monthly email newsletter, and regular outreach to nonprofit, academic and economic development organizations in San Diego and North Carolina to coordinate activities in support of life science and biotechnology entrepreneurs.

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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0381960
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0738210
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0250000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0988210
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Draft of Form 990 provided to board of directors for review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LaunchBio's conflict of interest policy is located in the organization's bylaws. The bylaws require regular and consistent disclosure of all potential conflicts in addition to compliance and enforcement of the policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 returns are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Corporate documents made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Gifts in Kind = -$5000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FY 2017 represented the first full year of program activities for LaunchBio, Inc., which began monthly educational events for early stage life sciences entrepreneurs in San Diego and created an operations plan for similar educational programs in Durham, North Carolina, with a planned January 2108 start date. LaunchBio also evaluated expansion opportunities in additional markets as the organization grows. The San Diego educational programs were funded in part by a $25,000 competitive economic development grant from the City of San Diego. LaunchBio initiated monthly "lunch and learns" in August on topics such as effective fundraising, communications skills, and commercialization of technology. LaunchBio also formed a partnership with the San Diego Unified School District to offer a week-long career immersion program for students at Clairemont High School and participated in the Life Sciences Summer Institute internship program run by the San Diego Workforce Partnership. LaunchBio secured multi-year sponsorship pledges and individual donations exceeding $700,000 which, including the grant funding, resulted in a nearly 3-fold increase in contributions from the previous fiscal year. The majority of the sponsorships came from North Carolina-based companies in anticipation of educational programs to be held in 2018 at the newly renovated Chesterfield Building in downtown Durham. LaunchBio established a website (www.launchbio.org), social media program, monthly email newsletter, and regular outreach to nonprofit, academic and economic development organizations in San Diego and North Carolina to coordinate activities in support of life science and biotechnology entrepreneurs.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part 1, Line 1 - Significant Activities
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IRS990/SignificantChangeInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0141525
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0273290
IRS990/TotalFunctionalExpensesGrp/TotalAmt0414815
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt056370
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt056370
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0562895
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0244500
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0619265
IRS990/TravelGrp/ManagementAndGeneralAmt07537
IRS990/TravelGrp/ProgramServicesAmt08927
IRS990/TravelGrp/TotalAmt016464
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0244500
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0206645
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.LaunchBio.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Susie Harborth
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LaunchBio Inc
ReturnHeader/Filer/BusinessNameControlTxt0LAUN
ReturnHeader/Filer/EIN0474851964
ReturnHeader/Filer/PhoneNum08587242164
ReturnHeader/Filer/USAddress/AddressLine1Txt010210 Campus Point Drive
ReturnHeader/Filer/USAddress/CityNm0San Diego
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092121
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0452079664
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0For Purpose Law Group
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01435 30th Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0San Diego
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092102
ReturnHeader/PreparerPersonGrp/PhoneNum06197803839
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0May L Harris Esq
ReturnHeader/ReturnTs02018-06-14T15:14:34-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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