Civic Intelligence

The Biosimilars Forum

990 • Fiscal year 2021 • EIN 81-0762544

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 05, 2022

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

94th percentile

0.72x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

0.86x

Higher debt load relative to revenue than 91% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

10th percentile

-9.4%

Higher net margin than 10% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

7th percentile

-9.3%

Faster asset growth than 7% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

22nd percentile

-7.1%

Faster revenue growth than 22% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$2,503,713

Down $257,813 (-9.3%) from 2020

Net Assets

Down

$702,658

Down $196,789 (-22%) from 2020

Liabilities

Down

$1,801,055

Down $61,024 (-3.3%) from 2020

Revenue

Down

$2,082,865

Down $159,324 (-7.1%) from 2020

Expenses

Up

$2,279,654

Up $326,996 (+17%) from 2020

Net Income

Down

-$196,789

Down $486,320 (-168%) from 2020

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

2021

Assets$2,503,713
Liabilities$1,801,055
Net Assets$702,658

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

2021

Revenue$2,082,865
Expenses$2,279,654
Net Income-$196,789
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 5, 2022
Return Version
2021v4.0
Gross Receipts
$2,082,865
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$1,562,000$1,290,000▼ $272,000
Cash and Non-Interest-Bearing Accounts$1,199,526$1,213,713▲ $14,187
Total Assets$2,761,526$2,503,713▼ $257,813
Liabilities
Deferred Revenue$1,766,667$1,800,000▲ $33,333
Accounts Payable and Accrued Expenses$95,412$1,055▼ $94,357
Total Liabilities$1,862,079$1,801,055▼ $61,024
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$899,447$702,658▼ $196,789
Total Net Assets Fund Balance$899,447$702,658▼ $196,789
Total Liabilities and Net Assets / Fund Balance$2,761,526$2,503,713▼ $257,813
Compensation and Service Providers

Board Members and Trustees

NameTitle
Juliana ReedPresident
Al RibeiroDirector
David SandersDirector
Fred VitaleDirector
Jon MartinDirector
Len ArsenaultDirector
Michael PennDirector
SARA D'ORSIEDirector
Tom NewcomerDirector
Meaghan SmithExecutive Di
Joseph ValerianiSecretary
James CareyTreasurer
Tiffany FletcherVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Signal Group ConsultingConsulting455 MASSACHUSETTS AVE NW, Washington, DC 20001$681,496
Thorn Run Partners LLCBusiness Con.1150 18TH ST NW SUITE 800, Washington, DC 20036$520,450
Wiley Rein LLPLegal2050 M STREET NW, Washington, DC 20036$199,028
National Alliance Of HealthcareResearch1015 18TH STREET NW SUITE 705, Washington, DC 20036$175,000
MillimanBusiness Con.15800 BLUEMOUND RD SUITE 100, Brookfield, WI 53005$106,913
Revenue and Support

Revenue Composition

Contributions and Grants
$2,082,865
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-196,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,279,654
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---$551,250
Fees for Services Management---$470,000
Advertising---$435,000
Fees for Services Lobbying---$390,000
Fees for Services Legal---$259,028
Conferences and Meetings---$150,412
Travel---$10,689
Fees for Services Accounting---$9,213
Insurance---$2,390
Office Expenses---$1,672
Total Functional Expenses$0$0$0$2,279,654
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$390,000
Total Nondeductible Lobbying and Political Cost$-798,940
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 340,000 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
Juliana Reed
Title
President
Phone
7038551301
Signed
2022-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Juliana Reed
Formed
2015
Legal Domicile
Dc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
100

Preparer

Firm
Kullman CPA LLC
Address
888 BESTGATE ROAD SUITE 316, ANNAPOLIS, MD 21401
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 37,500 0 0 pbgh - business consulting 11,250 0 0 nahpc - research & policy 175,000 0 0 signal - strategic consulting 327,500 0 0 total 551,250 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/MissionDesc0THE 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.
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IRS990/OtherWebsiteInd0X
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE BIOSIMILARS FORUM PROVIDES EVIDENCE-BASED INFORMATION TO INFORM AND SUPPORT PUBLIC POLICIES THAT ENCOURAGE AWARENESS, ACCESS, AND ADOPTION OF BIOSIMILARS.
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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 340,000 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 37,500 0 0 PBGH - BUSINESS CONSULTING 11,250 0 0 NAHPC - RESEARCH & POLICY 175,000 0 0 SIGNAL - STRATEGIC CONSULTING 327,500 0 0 TOTAL 551,250 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/USAddress/AddressLine1Txt020855 SABER JET PLACE
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE BIOSIMILARS FORUM
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0888 BESTGATE ROAD SUITE 316
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN J KULLMAN CPA
ReturnHeader/ReturnTs02022-10-12T06:16:06-04:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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