Civic Intelligence

The Biosimilars Forum

990 • Fiscal year 2023 • EIN 81-0762544

Jan 01, 2023 to Dec 31, 2023 • Filed on May 23, 2024

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

96th percentile

0.90x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

0.98x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

19th percentile

-6.6%

Higher net margin than 19% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

21st percentile

-4.5%

Faster asset growth than 21% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

51st percentile

8.3%

Faster revenue growth than 51% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$2,473,451

Down $115,406 (-4.5%) from 2022

Net Assets

Down

$238,446

Down $149,991 (-39%) from 2022

Liabilities

Up

$2,235,005

Up $34,585 (+1.6%) from 2022

Revenue

Up

$2,280,500

Up $175,500 (+8.3%) from 2022

Expenses

Up

$2,430,491

Up $11,270 (+0.5%) from 2022

Net Income

Up

-$149,991

Up $164,230 (+52%) from 2022

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

2023

Assets$2,473,451
Liabilities$2,235,005
Net Assets$238,446

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

2023

Revenue$2,280,500
Expenses$2,430,491
Net Income-$149,991
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 23, 2024
Return Version
2023v5.0
Gross Receipts
$2,280,500
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$1,650,000$1,797,500▲ $147,500
Cash and Non-Interest-Bearing Accounts$798,857$660,951▼ $137,906
Prepaid Expenses and Deferred Charges$140,000$15,000▼ $125,000
Total Assets$2,588,857$2,473,451▼ $115,406
Liabilities
Deferred Revenue$2,200,000$2,162,500▼ $37,500
Accounts Payable and Accrued Expenses$420$72,505▲ $72,085
Total Liabilities$2,200,420$2,235,005▲ $34,585
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$388,437$238,446▼ $149,991
Total Net Assets Fund Balance$388,437$238,446▼ $149,991
Total Liabilities and Net Assets / Fund Balance$2,588,857$2,473,451▼ $115,406
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ali LakahaniDirector
David SandersDirector
Gillian WoollettDirector
Harsher SinghDirector
Jon MartinDirector
Michael PennDirector
SARA D'ORSIEDirector
Tom SheaDirector
Len ArensaultDirector (ex
Margaret Davis-ceroneDirector (ex
Juliana ReedExecutive Di
Jim CareyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Thorn Run Partners LLCBusiness Con.1150 18TH ST NW SUITE 800, NW SUITE 900, Washington, DC 20036$459,000
Jreed Health Policy Strategies LLCExecutive Dir.2181 CHADWICK WAY, Mundelein, IL 60060$375,000
King & Spalding LLPReg. Counsel1700 PENNSYLVANIA AVE NW SUITE 900, Washington, DC 20006$292,118
Signal Group Consulting LLCConsulting455 MASSACHUSETTS AVE NW, Washington, DC 20001$284,739
Magnolia InnovationMarket & Policy200 CROSSING BLVD 7TH FLOOR, Bridgewater, NJ 08807$214,292
Revenue and Support

Revenue Composition

Contributions and Grants
$2,280,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$500
Change in Net Assets
$-149,991
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,430,491
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---$987,745
Conferences and Meetings---$520,236
Fees for Services Management---$488,000
Fees for Services Lobbying---$378,500
Travel---$39,364
Fees for Services Accounting---$13,075
Insurance---$2,590
Office Expenses---$981
Total Functional Expenses$0$0$0$2,430,491
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$378,500
Total Nondeductible Lobbying and Political Cost$-898,013
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jreed Health Policy Strategies LLCE.D. OWNS 100%Management FeesNo$375,000
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
Yes
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

Managment delegated to jreed health policy strategies, llc.

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
Executive Director
Phone
7038551301
Signed
2024-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Juliana Reed
Formed
2015
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
11
Employees
0

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, Part IX, Line 11G

Consultants and ed - signal ( 279,439 0 0 consultants and ed - signal ( 5,768 0 0 consultants and ed - king & s 261,500 0 0 consultants and ed - king & s 74,888 0 0 consultants and ed - hall ren 48,212 0 0 consultants and ed - hall ren 144,585 0 0 consultants and ed - magnolia 20,353 0 0 consultants and ed - mculsky 153,000 0 0 total 987,745 0 0

Raw XML Appendix367 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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IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OfficeExpensesGrp/TotalAmt0981
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0140000
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt015000
IRS990/PrincipalOfficerNm0JULIANA REED
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02105000
IRS990/PYOtherExpensesAmt02419221
IRS990/PYRevenuesLessExpensesAmt0-314221
IRS990/PYTotalExpensesAmt02419221
IRS990/PYTotalRevenueAmt02105000
IRS990/ReconcilationRevenueExpnssAmt0-149991
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/AggregateReportedDuesNtcAmt0456000
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/DuesAssessmentsAmt02280000
IRS990ScheduleC/NonDedLbbyngPltclCyovAmt0-1276513
IRS990ScheduleC/NonDeductibleLbbyngPltclCYAmt0378500
IRS990ScheduleC/NonDeductibleLbbyngPltclTotAmt0-898013
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleC/TaxableAmt0-1354013
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JREED HEALTH POLICY STRATEGIES LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0E.D. OWNS 100%
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0375000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT FEES
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/ExplanationTxt1MANAGMENT DELEGATED TO JREED HEALTH POLICY STRATEGIES, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3INITIALLY 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/ExplanationTxt4THE 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/ExplanationTxt5THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTANTS AND ED - SIGNAL ( 279,439 0 0 CONSULTANTS AND ED - SIGNAL ( 5,768 0 0 CONSULTANTS AND ED - KING & S 261,500 0 0 CONSULTANTS AND ED - KING & S 74,888 0 0 CONSULTANTS AND ED - HALL REN 48,212 0 0 CONSULTANTS AND ED - HALL REN 144,585 0 0 CONSULTANTS AND ED - MAGNOLIA 20,353 0 0 CONSULTANTS AND ED - MCULSKY 153,000 0 0 TOTAL 987,745 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02588857
IRS990/TotalAssetsEOYAmt02473451
IRS990/TotalAssetsGrp/BOYAmt02588857
IRS990/TotalAssetsGrp/EOYAmt02473451
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IRS990/TotalContributionsAmt02280500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02430491
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02200420
IRS990/TotalLiabilitiesEOYAmt02235005
IRS990/TotalLiabilitiesGrp/BOYAmt02200420
IRS990/TotalLiabilitiesGrp/EOYAmt02235005
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0388437
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0238446
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02280500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02588857
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02473451
IRS990/TravelGrp/TotalAmt039364
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt020855 SABER JET PLACE
IRS990/USAddress/CityNm0ASHBURN
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd020147
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.BIOSIMILARSFORUM.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JULIANA REED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07038551301
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-23
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/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274760605
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KULLMAN CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0888 BESTGATE ROAD SUITE 316
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ANNAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021401
ReturnHeader/PreparerPersonGrp/PhoneNum04102669885
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN J KULLMAN CPA
ReturnHeader/ReturnTs02024-05-23T16:55:13-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JULIANA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0REED
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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