Civic Intelligence

Launchbio Inc.

990 • Fiscal year 2022 • EIN 47-4851964

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 24, 2023

10210 Campus Point Drive 150San Diego, CA 92121

(858) 724-2164

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

32nd percentile

0.00x

Higher debt load relative to revenue than 32% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

43rd percentile

2.6%

Higher net margin than 43% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

83rd percentile

$84,000

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

32nd percentile

-4.3%

Faster asset growth than 32% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

63rd percentile

20%

Faster revenue growth than 63% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$188,917

Down $8,479 (-4.3%) from 2021

Net Assets

Up

$188,868

Up $23,760 (+14%) from 2021

Liabilities

Down

$49

Down $32,239 (-100%) from 2021

Revenue

Up

$510,742

Up $86,203 (+20%) from 2021

Expenses

Up

$497,496

Up $45,117 (+10.0%) from 2021

Net Income

Up

$13,246

Up $41,086 (+148%) from 2021

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

2022

Assets$188,917
Liabilities$49
Net Assets$188,868

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

2022

Revenue$510,742
Expenses$497,496
Net Income$13,246
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 24, 2023
Return Version
2022v5.0
Gross Receipts
$510,742
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.

To build an ecosystem of innovation for the benefit of human health and well-being by connecting entrepreneurs with knowledge, capital and talent - including each other - not only within geographical regions, but across the national leading life science hubs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$49,074$131,261▲ $82,187
Pledges and Grants Receivable$143,750$57,250▼ $86,500
Land, Buildings, and Equipment, Net$4,166$0▼ $4,166
Prepaid Expenses and Deferred Charges$406$406→ $0
Total Assets$197,396$188,917▼ $8,479
Liabilities
Accounts Payable and Accrued Expenses$32,288$49▼ $32,239
Total Liabilities$32,288$49▼ $32,239
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-61,139$112,615▲ $173,754
Net Assets With Donor Restrictions$226,247$76,253▼ $149,994
Total Net Assets Fund Balance$165,108$188,868▲ $23,760
Total Liabilities and Net Assets / Fund Balance$197,396$188,917▼ $8,479

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$50,000$50,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Becky BeattieCEOFT$84,000$84,000

Board Members and Trustees

NameTitle
Michael HostetlerPresident
Anton XavierDirector
Kathleen GibsonDirector
Tia WilliamsSecretary
John FreemanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$467,532
Program Service Revenue
$43,201
Investment Income
$9
Other Revenue
$0
All Other Contributions
$467,532
Change in Net Assets
$13,246
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$333,653
Salaries, Compensation, and Employee Benefits$163,843
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$87,548$87,546-$175,094
Current Officers, Directors, Trustees, and Key Employees$42,000$42,000-$84,000
Other Salaries and Wages$33,834$33,833-$67,667
Fees for Services Accounting$21,568$21,567-$43,135
Conferences and Meetings$38,423--$38,423
Travel$11,105$11,104-$22,209
Payroll Taxes$6,088$6,088-$12,176
Depreciation Depletion-$4,166-$4,166
Insurance$424$3,458-$3,882
Office Expenses$947$2,530-$3,477
Fees for Services Legal$1,698$1,698-$3,396
Information Technology-$1,956-$1,956
Other Expenses$25,000$1,000-$1,000
Total Functional Expenses$268,635$228,861$0$497,496
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section B, Line 11B

Draft of form 990 is provided to the board of directors for review prior to filing.

Form 990, Part VI, Section B, Line 12C

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, Section B, Line 15A

Compensation for the ceo is determined by the board of directors after review of compensation studies and consultation with an independent compensation consultant.

Form 990, Part VI, Section C, Line 18

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

Form 990, Part VI, Section C, Line 19

Corporate documents are 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 150, SAN DIEGO, CA 92121

Signing Officer

Name
Becky Beattie
Title
Chief Executive Officer
Phone
8587242164
Signed
2023-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hostetler
Formed
2015
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
0

Preparer

Firm
Steward Ingram & Cooper Pllc
Address
PO BOX 41168, RALEIGH, NC 27629
Preparer
Stephanie B Holt CPA
Phone
9198720866
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Line 1 - Significant Activities

In the first 6 months of 2022 (january june), launchbio produced 4 national webinars on topics ranging from financial strategies to scientific innovation. And 706 bio-innovators registered. We live-streamed 1 let's talk about discussion to elevate the topic of diversity and inclusion in the life sciences. There were 80 registrants for this virtual program. We presented 2 invest in cures disease foundation forums in-person. The first in durham, followed by a second in dallas to coincide with the grand opening of biolabs ntx. Combined, there were 241 registrations with an 87% attendance rate. When it felt safe to do so, we hosted 2 larger than life science events. In san diego 'hypergrowth' featured insight into the area's explosive startup growth and offered the opportunity to dialogue with the city of san diego. In durham, 'closing the deal' broke down every step in the due diligence process. Combined, 171 innovators registered. Our 1 founders circlepeer discussion explored 'mistakes to avoid with vcs'. The topic attracted 52 founders and executives in durham. During the second 6 months of 2022 (july december), launchbio produced 13 total events consisting of 701 virtual attendees and 249 in-person attendees. Topics ranged from hyper-growth in growing regions, to opportunities in the cultured meats sector, funding strategies and private company compensation reports. We held our first larger than life science in new haven ct discussing hiring trends and strategies for companies coming out of the university system. We held our first founders circle n philadelphia and first investor connect event in dallas there are 15,892 bio-innovators on our list. Of our total audience, 35% are entrepreneurs. In addition to email, we have 1,367 twitter followers and 1,924 linkedin followers. Linkedin earned 21,901 impressions with a 4.1% growth rate. Twitter earned 16,444 impressions with a 5.3% growth rate. All of our webinars are recorded, uploaded to vimeo and archived on our website and over the course of 2022 our content has been viewed 814 times. Launchbio is committed to being the industry leader in connecting, educating and supporting life science innovators across the country. Maintaining quality control and brand recognition is a top priority as we differentiate ourselves from competitors and continue to engage our audience and provide meaningful interactions.

Form 990, Part IX, Line 11G

Payroll processing fees: program service expenses 388. Management and general expenses 387. Fundraising expenses 0. Total expenses 775. Contracted staff: program service expenses 51,915. Management and general expenses 51,915. Fundraising expenses 0. Total expenses 103,830. Contracted marketing & public relations: program service expenses 30,995. Management and general expenses 30,994. Fundraising expenses 0. Total expenses 61,989. Other professional fees: program service expenses 4,250. Management and general expenses 4,250. Fundraising expenses 0. Total expenses 8,500.

Raw XML Appendix397 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN THE FIRST 6 MONTHS OF 2022 (JANUARY JUNE), LAUNCHBIO PRODUCED 4 NATIONAL WEBINARS ON TOPICS RANGING FROM FINANCIAL STRATEGIES TO SCIENTIFIC INNOVATION. AND 706 BIO-INNOVATORS REGISTERED. WE LIVE-STREAMED 1 LET'S TALK ABOUT DISCUSSION TO ELEVATE THE TOPIC OF DIVERSITY AND INCLUSION IN THE LIFE SCIENCES. THERE WERE 80 REGISTRANTS FOR THIS VIRTUAL PROGRAM. WE PRESENTED 2 INVEST IN CURES DISEASE FOUNDATION FORUMS IN-PERSON. THE FIRST IN DURHAM, FOLLOWED BY A SECOND IN DALLAS TO COINCIDE WITH THE GRAND OPENING OF BIOLABS NTX. COMBINED, THERE WERE 241 REGISTRATIONS WITH AN 87% ATTENDANCE RATE. WHEN IT FELT SAFE TO DO SO, WE HOSTED 2 LARGER THAN LIFE SCIENCE EVENTS. IN SAN DIEGO 'HYPERGROWTH' FEATURED INSIGHT INTO THE AREA'S EXPLOSIVE STARTUP GROWTH AND OFFERED THE OPPORTUNITY TO DIALOGUE WITH THE CITY OF SAN DIEGO. IN DURHAM, 'CLOSING THE DEAL' BROKE DOWN EVERY STEP IN THE DUE DILIGENCE PROCESS. COMBINED, 171 INNOVATORS REGISTERED. OUR 1 FOUNDERS CIRCLEPEER DISCUSSION EXPLORED 'MISTAKES TO AVOID WITH VCS'. THE TOPIC ATTRACTED 52 FOUNDERS AND EXECUTIVES IN DURHAM. DURING THE SECOND 6 MONTHS OF 2022 (JULY DECEMBER), LAUNCHBIO PRODUCED 13 TOTAL EVENTS CONSISTING OF 701 VIRTUAL ATTENDEES AND 249 IN-PERSON ATTENDEES. TOPICS RANGED FROM HYPER-GROWTH IN GROWING REGIONS, TO OPPORTUNITIES IN THE CULTURED MEATS SECTOR, FUNDING STRATEGIES AND PRIVATE COMPANY COMPENSATION REPORTS. WE HELD OUR FIRST LARGER THAN LIFE SCIENCE IN NEW HAVEN CT DISCUSSING HIRING TRENDS AND STRATEGIES FOR COMPANIES COMING OUT OF THE UNIVERSITY SYSTEM. WE HELD OUR FIRST FOUNDERS CIRCLE N PHILADELPHIA AND FIRST INVESTOR CONNECT EVENT IN DALLAS THERE ARE 15,892 BIO-INNOVATORS ON OUR LIST. OF OUR TOTAL AUDIENCE, 35% ARE ENTREPRENEURS. IN ADDITION TO EMAIL, WE HAVE 1,367 TWITTER FOLLOWERS AND 1,924 LINKEDIN FOLLOWERS. LINKEDIN EARNED 21,901 IMPRESSIONS WITH A 4.1% GROWTH RATE. TWITTER EARNED 16,444 IMPRESSIONS WITH A 5.3% GROWTH RATE. ALL OF OUR WEBINARS ARE RECORDED, UPLOADED TO VIMEO AND ARCHIVED ON OUR WEBSITE AND OVER THE COURSE OF 2022 OUR CONTENT HAS BEEN VIEWED 814 TIMES. LAUNCHBIO IS COMMITTED TO BEING THE INDUSTRY LEADER IN CONNECTING, EDUCATING AND SUPPORTING LIFE SCIENCE INNOVATORS ACROSS THE COUNTRY. MAINTAINING QUALITY CONTROL AND BRAND RECOGNITION IS A TOP PRIORITY AS WE DIFFERENTIATE OURSELVES FROM COMPETITORS AND CONTINUE TO ENGAGE OUR AUDIENCE AND PROVIDE MEANINGFUL INTERACTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DRAFT OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LAUNCHBIO'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/ExplanationTxt3COMPENSATION FOR THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS AFTER REVIEW OF COMPENSATION STUDIES AND CONSULTATION WITH AN INDEPENDENT COMPENSATION CONSULTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 RETURNS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CORPORATE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 388. MANAGEMENT AND GENERAL EXPENSES 387. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 775. CONTRACTED STAFF: PROGRAM SERVICE EXPENSES 51,915. MANAGEMENT AND GENERAL EXPENSES 51,915. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 103,830. CONTRACTED MARKETING & PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 30,995. MANAGEMENT AND GENERAL EXPENSES 30,994. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,989. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 4,250. MANAGEMENT AND GENERAL EXPENSES 4,250. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,500.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART 1, LINE 1 - SIGNIFICANT ACTIVITIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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