Civic Intelligence

The Biosimilars Forum

990 • Fiscal year 2020 • EIN 81-0762544

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 10, 2021

20855 Saber Jet PlaceAshburn, VA 20147

(703) 855-1301

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.67x

Higher debt load relative to assets than 92% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

90th percentile

0.83x

Higher debt load relative to revenue than 90% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

26%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,761,526

Up $343,443 (+14%) from 2019

Net Assets

Up

$899,447

Up $289,531 (+47%) from 2019

Liabilities

Up

$1,862,079

Up $53,912 (+3.0%) from 2019

Revenue

Up

$2,242,189

Up $464,195 (+26%) from 2019

Expenses

Down

$1,952,658

Down $97,454 (-4.8%) from 2019

Net Income

Up

$289,531

Up $561,649 (+206%) from 2019

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2015: $2,712,461Liabilities 2015: $2,029,850Net Assets 2015: $682,6112015Assets 2016: $2,343,073Liabilities 2016: $1,669,164Net Assets 2016: $673,9092016Assets 2017: $2,276,847Liabilities 2017: $1,725,840Net Assets 2017: $551,0072017Assets 2018: $2,282,034Liabilities 2018: $1,400,000Net Assets 2018: $882,0342018Assets 2019: $2,418,083Liabilities 2019: $1,808,167Net Assets 2019: $609,9162019Assets 2020: $2,761,526Liabilities 2020: $1,862,079Net Assets 2020: $899,4472020Assets 2021: $2,503,713Liabilities 2021: $1,801,055Net Assets 2021: $702,6582021Assets 2022: $2,588,857Liabilities 2022: $2,200,420Net Assets 2022: $388,4372022Assets 2023: $2,473,451Liabilities 2023: $2,235,005Net Assets 2023: $238,4462023Assets 2024: $2,722,624Liabilities 2024: $2,347,505Net Assets 2024: $375,1192024

Highlighted filing

2020

Assets$2,761,526
Liabilities$1,862,079
Net Assets$899,447

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,687,500Expenses 2015: $1,004,889Net Income 2015: $682,6112015Revenue 2016: $1,750,000Expenses 2016: $1,758,702Net Income 2016: -$8,7022016Revenue 2017: $1,575,000Expenses 2017: $1,697,902Net Income 2017: -$122,9022017Revenue 2018: $1,437,020Expenses 2018: $1,105,993Net Income 2018: $331,0272018Revenue 2019: $1,777,994Expenses 2019: $2,050,112Net Income 2019: -$272,1182019Revenue 2020: $2,242,189Expenses 2020: $1,952,658Net Income 2020: $289,5312020Revenue 2021: $2,082,865Expenses 2021: $2,279,654Net Income 2021: -$196,7892021Revenue 2022: $2,105,000Expenses 2022: $2,419,221Net Income 2022: -$314,2212022Revenue 2023: $2,280,500Expenses 2023: $2,430,491Net Income 2023: -$149,9912023Revenue 2024: $2,117,500Expenses 2024: $1,980,827Net Income 2024: $136,6732024

Highlighted filing

2020

Revenue$2,242,189
Expenses$1,952,658
Net Income$289,531
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 10, 2021
Return Version
2020v4.0
Gross Receipts
$2,242,189
Mission and Program Overview

Mission

The biosimilars forum was incorporated in washington, dc, as a nonprofit organization to advance biosimilars in the united states with the intent of expanding access and availability of biological medicines, and improving health care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,609,000$1,562,000▼ $47,000
Cash and Non-Interest-Bearing Accounts$809,083$1,199,526▲ $390,443
Total Assets$2,418,083$2,761,526▲ $343,443
Liabilities
Deferred Revenue$1,800,000$1,766,667▼ $33,333
Accounts Payable and Accrued Expenses$8,167$95,412▲ $87,245
Total Liabilities$1,808,167$1,862,079▲ $53,912
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$609,916$899,447▲ $289,531
Total Net Assets Fund Balance$609,916$899,447▲ $289,531
Total Liabilities and Net Assets / Fund Balance$2,418,083$2,761,526▲ $343,443
Compensation and Service Providers

Board Members and Trustees

NameTitle
Juliana ReedPresident
Al RibeiroDirector
Albert KimDirector
David SandersDirector
Fred VitaleDirector
Joseph ValerianiDirector
Len ArsenaultDirector
Mark LangstonDirector
SARAH D'ORSIEDirector
Tiffany FletcherDirector
Meaghan SmithExecutive Di
Molly BurichSecretary
James CareyTreasurer
Dara CorriganVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Skdknickerbocker LLCBus Con/lobby100 M ST SE STE 750, Washington, DC 20003$952,610
Thorn Run Partners LLCBusiness Con.1150 18TH ST NW SUITE 800, Washington, DC 20036$518,891
MillimanBusiness Con.15800 BLUEMOUND RD SUITE 100, Brookfield, WI 53005$246,751
Revenue and Support

Revenue Composition

Contributions and Grants
$2,242,189
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$289,531
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,952,658
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$836,356
Fees for Services Lobbying---$360,000
Information Technology---$240,000
Fees for Services Management---$235,800
Conferences and Meetings---$220,812
Fees for Services Legal---$40,000
Fees for Services Accounting---$11,740
Travel---$4,797
Insurance---$2,591
Office Expenses---$562
Total Functional Expenses$0$0$0$1,952,658
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$360,000
Total Nondeductible Lobbying and Political Cost$-740,502
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Beginning on october 1, 2020, m. Rose strategy provided administration, public relations, advocacy, strategic planning, trade association activities and board support services. Meaghan smith, executive director, was compensated in the amount of 95,800 by the management company during the year.

Form 990, Page 6, Part VI, Line 6

The organization has two classes of members: founding and regular members. Members have a right to vote on annual appointment to the board of directors. A quorum at a meeting of the members requires attendance (in person or by proxy) of both a majority of the regular members and a majority of the founding members. A majority vote of both the founding and regular members is required to constitute board action.

Form 990, Page 6, Part VI, Line 7A

Initially the founding members of the corporation appointed the board of directors. Subsequently, the regular and founding members each exercised a single vote to elect the members of the board of directors at the annual meeting of the organization.

Form 990, Page 6, Part VI, Line 11B

The form 990 is prepared by outside accountants in conjuction with the biosimiliar forum's third-party cfo and management team. The form 990 is reviewed by the biosimiliars forum president and treasurer, and made available to all directors prior to filing with the internal revenue service.

Form 990, Page 6, Part VI, Line 19

The governing documents are available upon request

Filing and Contact Details

Filer

Filer Name
The Biosimilars Forum
EIN
81-0762544
Phone
7038551301
Address
20855 SABER JET PLACE, ASHBURN, VA 20147

Signing Officer

Name
Meaghan Smith
Title
Executive Director
Phone
7038551301
Signed
2021-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Meaghan Smith
Formed
2015
Legal Domicile
Dc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
58

Preparer

Firm
Kullman CPA LLC
Address
1997 ANNAPOLIS EXCHANGE PKWY SUITE, ANNAPOLIS, MD 21401-3275
Preparer
Stephen J Kullman CPA
Phone
4102669885
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The biosimilars forum was incorporated in washington, dc, as a nonprofit organization to advance biosimilars in the united states with the intent of expanding access and availability of biological medicines, and improving health care.

Form 990, Page 2, Part III, Line 4D

The biosimilars forum provides evidence-based information to inform and support public policies that encourage awareness, access, and adoption of biosimilars.

Form 990, Part IX, Line 11G

Apogee consulting group 90,000 0 0 pbgh - business consulting 7,500 0 0 skdk - business consulting 738,856 0 0 total 836,356 0 0

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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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IRS990/PrincipalOfficerNm0MEAGHAN SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE BIOSIMILARS FORUM PROVIDES EVIDENCE-BASED INFORMATION TO INFORM AND SUPPORT PUBLIC POLICIES THAT ENCOURAGE AWARENESS, ACCESS, AND ADOPTION OF BIOSIMILARS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01777994
IRS990/PYOtherExpensesAmt02050112
IRS990/PYRevenuesLessExpensesAmt0-272118
IRS990/PYTotalExpensesAmt02050112
IRS990/PYTotalRevenueAmt01777994
IRS990/ReconcilationRevenueExpnssAmt0289531
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/AggregateReportedDuesNtcAmt0448438
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/DuesAssessmentsAmt02242189
IRS990ScheduleC/NonDedLbbyngPltclCyovAmt0-1100502
IRS990ScheduleC/NonDeductibleLbbyngPltclCYAmt0360000
IRS990ScheduleC/NonDeductibleLbbyngPltclTotAmt0-740502
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleC/TaxableAmt0-1188940
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BIOSIMILARS FORUM WAS INCORPORATED IN WASHINGTON, DC, AS A NONPROFIT ORGANIZATION TO ADVANCE BIOSIMILARS IN THE UNITED STATES WITH THE INTENT OF EXPANDING ACCESS AND AVAILABILITY OF BIOLOGICAL MEDICINES, AND IMPROVING HEALTH CARE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BIOSIMILARS FORUM PROVIDES EVIDENCE-BASED INFORMATION TO INFORM AND SUPPORT PUBLIC POLICIES THAT ENCOURAGE AWARENESS, ACCESS, AND ADOPTION OF BIOSIMILARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEGINNING ON OCTOBER 1, 2020, M. ROSE STRATEGY PROVIDED ADMINISTRATION, PUBLIC RELATIONS, ADVOCACY, STRATEGIC PLANNING, TRADE ASSOCIATION ACTIVITIES AND BOARD SUPPORT SERVICES. MEAGHAN SMITH, EXECUTIVE DIRECTOR, WAS COMPENSATED IN THE AMOUNT OF 95,800 BY THE MANAGEMENT COMPANY DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS TWO CLASSES OF MEMBERS: FOUNDING AND REGULAR MEMBERS. MEMBERS HAVE A RIGHT TO VOTE ON ANNUAL APPOINTMENT TO THE BOARD OF DIRECTORS. A QUORUM AT A MEETING OF THE MEMBERS REQUIRES ATTENDANCE (IN PERSON OR BY PROXY) OF BOTH A MAJORITY OF THE REGULAR MEMBERS AND A MAJORITY OF THE FOUNDING MEMBERS. A MAJORITY VOTE OF BOTH THE FOUNDING AND REGULAR MEMBERS IS REQUIRED TO CONSTITUTE BOARD ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INITIALLY THE FOUNDING MEMBERS OF THE CORPORATION APPOINTED THE BOARD OF DIRECTORS. SUBSEQUENTLY, THE REGULAR AND FOUNDING MEMBERS EACH EXERCISED A SINGLE VOTE TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS PREPARED BY OUTSIDE ACCOUNTANTS IN CONJUCTION WITH THE BIOSIMILIAR FORUM'S THIRD-PARTY CFO AND MANAGEMENT TEAM. THE FORM 990 IS REVIEWED BY THE BIOSIMILIARS FORUM PRESIDENT AND TREASURER, AND MADE AVAILABLE TO ALL DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7APOGEE CONSULTING GROUP 90,000 0 0 PBGH - BUSINESS CONSULTING 7,500 0 0 SKDK - BUSINESS CONSULTING 738,856 0 0 TOTAL 836,356 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02761526
IRS990/TotalAssetsGrp/BOYAmt02418083
IRS990/TotalAssetsGrp/EOYAmt02761526
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02242189
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01952658
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01808167
IRS990/TotalLiabilitiesEOYAmt01862079
IRS990/TotalLiabilitiesGrp/BOYAmt01808167
IRS990/TotalLiabilitiesGrp/EOYAmt01862079
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0609916
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0899447
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02242189
IRS990/TotalVolunteersCnt058
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02418083
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02761526
IRS990/TravelGrp/TotalAmt04797
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt020855 SABER JET PLACE
IRS990/USAddress/CityNm0ASHBURN
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd020147
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.BIOSIMILARSFORUM.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MEAGHAN SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07038551301
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE BIOSIMILARS FORUM
ReturnHeader/Filer/BusinessNameControlTxt0BIOS
ReturnHeader/Filer/EIN0810762544
ReturnHeader/Filer/PhoneNum07038551301
ReturnHeader/Filer/USAddress/AddressLine1Txt020855 SABER JET PLACE
ReturnHeader/Filer/USAddress/CityNm0ASHBURN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd020147
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274760605
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KULLMAN CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01997 ANNAPOLIS EXCHANGE PKWY SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ANNAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0214013275
ReturnHeader/PreparerPersonGrp/PhoneNum04102669885
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN J KULLMAN CPA
ReturnHeader/ReturnTs02021-11-12T11:50:24-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEAGHAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SMITH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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