Civic Intelligence

Advanced Regenerative Manufacturing

990 • Fiscal year 2021 • EIN 81-3327581

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

Refreshing map…

400 Commercial StManchester, NH 03101

(603) 666-3905

Siviq Scores

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

Liabilities / Assets

66th percentile

0.35x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

32nd percentile

0.30x

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

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Net Margin

68th percentile

19%

Higher net margin than 68% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$220,748

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Asset Growth

90th percentile

30%

Faster asset growth than 90% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

55th percentile

11%

Faster revenue growth than 55% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$22,637,554

Up $5,214,380 (+30%) from 2020

Net Assets

Up

$14,603,313

Up $5,008,473 (+52%) from 2020

Liabilities

Up

$8,034,241

Up $205,907 (+2.6%) from 2020

Revenue

Up

$26,561,020

Up $2,600,721 (+11%) from 2020

Expenses

Up

$21,552,547

Up $2,003,439 (+10%) from 2020

Net Income

Up

$5,008,473

Up $597,282 (+14%) from 2020

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2017: $1,340,964Liabilities 2017: $1,067,165Net Assets 2017: $273,7992017Assets 2018: $3,623,804Liabilities 2018: $842,081Net Assets 2018: $2,781,7232018Assets 2019: $9,593,362Liabilities 2019: $4,409,713Net Assets 2019: $5,183,6492019Assets 2020: $17,423,174Liabilities 2020: $7,828,334Net Assets 2020: $9,594,8402020Assets 2021: $22,637,554Liabilities 2021: $8,034,241Net Assets 2021: $14,603,3132021Assets 2022: $28,649,661Liabilities 2022: $11,484,704Net Assets 2022: $17,164,9572022Assets 2023: $29,045,430Liabilities 2023: $11,371,178Net Assets 2023: $17,674,2522023Assets 2024: $37,903,038Liabilities 2024: $17,623,664Net Assets 2024: $20,279,3742024

Highlighted filing

2021

Assets$22,637,554
Liabilities$8,034,241
Net Assets$14,603,313

Operations Trend

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

$60M$40M$20M$0Revenue 2017: $2,456,227Expenses 2017: $2,182,428Net Income 2017: $273,7992017Revenue 2018: $5,212,381Expenses 2018: $2,704,457Net Income 2018: $2,507,9242018Revenue 2019: $10,942,647Expenses 2019: $8,540,721Net Income 2019: $2,401,9262019Revenue 2020: $23,960,299Expenses 2020: $19,549,108Net Income 2020: $4,411,1912020Revenue 2021: $26,561,020Expenses 2021: $21,552,547Net Income 2021: $5,008,4732021Revenue 2022: $30,061,391Expenses 2022: $27,499,747Net Income 2022: $2,561,6442022Revenue 2023: $26,819,069Expenses 2023: $26,309,774Net Income 2023: $509,2952023Revenue 2024: $41,521,294Expenses 2024: $38,916,172Net Income 2024: $2,605,1222024

Highlighted filing

2021

Revenue$26,561,020
Expenses$21,552,547
Net Income$5,008,473
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$26,561,020
Mission and Program Overview

Mission

ARMI's mission is to support advanced tissue biofabrication.

ARMI's mission is to support, develop, advance and promote the United States bioeconomy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,170,006$9,272,970▲ $4,102,964
Savings and Temporary Cash Investments$4,920,948$8,079,318▲ $3,158,370
Accounts Receivable$7,019,066$4,481,342▼ $2,537,724
Cash and Non-Interest-Bearing Accounts$76,860$362,019▲ $285,159
Prepaid Expenses and Deferred Charges$233,794$352,893▲ $119,099
Intangible Assets-$89,012-
Total Assets$17,423,174$22,637,554▲ $5,214,380
Other Assets Total$2,500$0▼ $2,500
Liabilities
Accounts Payable and Accrued Expenses$6,992,119$7,014,812▲ $22,693
Deferred Revenue$836,215$1,019,429▲ $183,214
Total Liabilities$7,828,334$8,034,241▲ $205,907
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,594,840$14,603,313▲ $5,008,473
Total Net Assets Fund Balance$9,594,840$14,603,313▲ $5,008,473
Total Liabilities and Net Assets / Fund Balance$17,423,174$22,637,554▲ $5,214,380

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,166,505$1,811,372$6,977,877
Leasehold Improvements$4,106,465$47,144$4,153,609
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard McFarlandChief Regulatory OfficerFT$197,196$23,552$220,748
Thomas DeyakControllerFT$139,104$32,257$171,361
Paul MailhotChief Membership OfficerFT$129,204$35,332$164,536
Damian HileSr Process Development ScientistFT$128,858$9,773$138,631
Michael PisaniDirector of Technology OperationsFT$121,916$12,511$134,427

Board Members and Trustees

NameTitle
Blake MoretBoard Member
Jim WeinsteinBoard Member
John AbeleBoard Member
Laurie LeshinBoard Member
Martine RothblattBoard Member
Maureen TooheyDeputy Executive Director
Dean KamenExecutive Director
James ScottChief Operating Officer
Brendan DuffyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Nexight Group LLCConsultant1100 Wayne Avenue Suite 1100, Silver Spring, MD 20910$368,901
Stefany ShaheenConsultant19 Shoe String Rd, Canterbury, NH 03224$177,435
-Consultant77 South Street, Portsmouth, NH 03801$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$25,317,444
Program Service Revenue
$1,235,171
Investment Income
$8,405
Other Revenue
$0
All Other Contributions
$943,732
Change in Net Assets
$5,008,473

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table4$55,300Fair Market Value (FMV)
Total Noncash Contributions4$55,300-

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,561,020
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,293,763
Total Revenue per Audited Statements
$36,854,783
Total Revenue per Form 990
$26,561,020
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$13,091,692
Other Expenses$4,920,692
Salaries, Compensation, and Employee Benefits$3,540,163
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$12,072,055
Other Salaries and Wages---$2,988,876
Other Expenses---$1,467,002
Depreciation Depletion---$1,180,084
Foreign Grants---$1,019,637
Occupancy---$891,846
Fees for Services Other---$563,657
Information Technology---$274,093
Other Employee Benefits---$248,999
Payroll Taxes---$233,005
Conferences and Meetings---$214,707
Office Expenses---$194,374
Pension Plan Contributions---$69,283
Travel---$51,750
Fees for Services Accounting---$44,821
Insurance---$38,358
Total Functional Expenses$0$0$0$21,552,547

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$31,846,310
Expenses per Audited Statements$21,552,547
Total Expenses per Form 990$21,552,547
Expenses Not Reported on Form 990$10,293,763
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
DEKA Integrated Solutions CorpManchester, NH501(c)(3)See Part IV$2,937,751
MxD USAChicago, IL501(c)(3)BioFabUSA CARES Act Funded Program (DoD-Directed)$1,077,538
Trailhead Biosystems IncCleveland, OH-See Part IV$930,214
University of Notre DameNotre Dame, IN-Subaward pursuant to our Technology Investment Agreement with the Government$867,700
Washington UniversitySt Louis, MO-Subaward pursuant to our grant with a private foundation$810,223
Arizona State UniversityTempe, AZ501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$482,253
Cornell University - Biomedical EngIthaca, NY501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$411,883
WpiWorcester, MA-Subaward pursuant to our Technology Investment Agreement with the Government$360,709
Georgia Tech Research CorpAtlanta, GA501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$341,877
Terasaki Institute for Biomedical InnovationLos Angeles, CA-Subaward pursuant to our Technology Investment Agreement with the Government$284,485
Sudhin Biopharma CoSuperior, CO-Subaward pursuant to our Technology Investment Agreement with the Government$268,551
NeuriteBirmingham, AL-BioFabUSA CARES Act Funded Program (DoD-Directed)$266,000
Rutgers UniversityPiscataway, NJ-Subaward pursuant to our Technology Investment Agreement with the Government$247,958
Organamet BioMontgomery, AL-Subaward pursuant to our Technology Investment Agreement with the Government$233,697
University of FloridaGainesville, FL-Subaward pursuant to our Technology Investment Agreement with the Government$213,718
University of New HampshireDurham, NH-Subaward pursuant to our Technology Investment Agreement with the Government$179,832
AsymmetrexBoston, MA501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$167,498
Applied BiosensorsSalt Lake City, UT501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$163,827
EpiboneBrooklyn, NY501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$138,359
Southwest Research InstituteSan Antonio, TX-Subaward pursuant to our Technology Investment Agreement with the Government$134,790
Dartmouth CollegeHanover, NH501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$118,330
North Carolina State UniversityRaleigh, NC-Subaward pursuant to our Technology Investment Agreement with the Government$114,661
Axogen CorporationAlachua, FL501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$99,828
Brown UniversityProvidence, RI501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$83,118
Agienic IncTucson, AZ501(c)(3)NextFab Funded Program (HHS-Directed)$54,560
Biogen MA IncCambridge, MA501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$48,024
DEKA Research & Development CorpManchester, NH501(c)(3)NextFab Funded Program (HHS-Directed)$46,115
University of VirginiaCharlottesville, VA-Subaward pursuant to our Technology Investment Agreement with the Government$42,376
Texas A&M Engineering Experiment StationCollege Station, TX-Subaward pursuant to our Technology Investment Agreement with the Government$41,841
Advanced Solutions IncLouisville, KY501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$41,350
Akron BiotechnologyBoca Raton, FL501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$38,036
RoosterBioFrederick, MD-Subaward pursuant to our Technology Investment Agreement with the Government$33,254
Massachusetts Institute of TechnologyCambridge, MA501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$26,225
STEL Technologies LLCAnn Arbor, MI-Subaward pursuant to our Technology Investment Agreement with the Government$24,499
Sentien BiotechnologiesLexington, MA-Subaward pursuant to our Technology Investment Agreement with the Government$20,246
Girl Scouts of the Green and White MntsBedford, NH501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$12,102
SEE Science Center IncManchester, NH-Subaward pursuant to our Technology Investment Agreement with the Government$11,631
INCELL CorporationSan Antonio, TX501(c)(3)Subaward pursuant to our Technology Investment Agreement with the Government$5,947

International Summary

Offices
0
Employees
0
Spending
$1,019,637

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumGrant-00$1,019,637
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
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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 A, line 2

James Scott and Brendan Duffy are employees of DEKA, a company owned by Dean Kamen. Maureen Toohey is a member of the Toohey Law Group.

Form 990, Part VI, Section A, line 6

ARMI is a membership based organization consisting of organizations with interests and/or experience with regenerative medicine and manufacturing in the United States.

Form 990, Part VI, Section B, line 11B

Key members of management review and comment on the 990 and it is distributed to all board members prior to filing with the Internal Revenue Service.

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

The conflict of interest policy is included on ARMI's internal server, and is posted online on its member portal. Any new employees or officers are provided a copy of this when joining ARMI. Any conflicts are to be reported to the Executive Director or ARMI legal counsel.

Form 990, Part VI, Section C, line 19

Upon Request

Form 990, Part VII, Section A:

As part of its startup activities, per its proposal to the government, the Organization (ARMI) does not pay compensation to some of its officers. Instead, these officers are compensated by member organization DEKA, an unrelated third party, through a government cost share agreement between ARMI and DEKA. DEKA does not treat these compensation payments as a charitable contribution to ARMI; therefore, the compensation is not required to be shown on Part VII, Section A, Line 1a.

Filing and Contact Details

Filer

Filer Name
Advanced Regenerative Manufacturing
EIN
81-3327581
Phone
6036663905
Address
400 Commercial St, Manchester, NH 03101

Signing Officer

Name
Maureen Toohey
Title
Deputy Executive Director
Phone
6036663905
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Toohey
Formed
2016
Legal Domicile
Nh
Voting Board Members
6
Independent Board Members
6
Employees
44
Volunteers
150

Preparer

Firm
Berry Dunn McNeil & Parker LLC
Address
2211 Congress St, Portland, ME 04102
Preparer
Melissa Magoon CPA
Phone
2077752387
Raw XML AppendixShowing 400 of 916 raw XML fields

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IRS990/Desc0ARMI's primary accomplishments have been the start up and management of two partially-U.S Government funded institutes:1) BioFabUSA - a partially DoD-funded manufacturing USA institute, focused on the manufacturing of engineered tissues and tissue-related technologies and support for related Federal Government activities.2) The Foundry for American BioTechnology (NextFab) - a partially HHS (ASPR Next)-funded institute focused on advancing biotechnology (such as, by way of example, distributed manufacturing technologies and bio security and preparedness). NextFab was established in February 2020.BioFabUSA accomplishes its mission through key activities, such as the following: - It will fund technical projects that address many of the common manufacturing challenges faced by companies in the field of tissue engineering. This will allow tissue engineering companies to focus their time and resources on tissue- or application-specific challenges, moving the entire industry forward more quickly and efficiently. - It will also fund educational/workforce development (EWD) projects that address the industry need for trained employees with a broad base of biomanufacturing skills and specific expertise in tissue engineering. This pressing need constrains the growth of tissue engineering organizations. - In coordination with organizations in the field of regenerative manufacturing, it will develop roadmaps of both technical and EWD needs for the field. These roadmaps will help guide the work of organizations in the field of regenerative manufacturing, and they will help guide the selection of technical and EWD projects. - It will host, sponsor, and participate in conferences and workshops that convene organizations that support regenerative manufacturing. These events will allow for shared learnings related to technical, regulatory, workforce, and financial challenges and solutions. - It will share information about best practices and innovations in the field via various online resources.NextFab accomplishes its mission through key activities, such as the following: - Establish framework for demand-based Advisory Panels to conduct expert seminars and other thought-leadership efforts. - Develop commercial advisory and consulting programs designed to accelerate adoption of advanced technologies. - Provide shared facilities to accelerate advanced technologies.
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IRS990/Form990PartVIISectionAGrp/PersonNm4Laurie Leshin
IRS990/Form990PartVIISectionAGrp/PersonNm5Blake Moret
IRS990/Form990PartVIISectionAGrp/PersonNm6Maureen Toohey
IRS990/Form990PartVIISectionAGrp/PersonNm7James Scott
IRS990/Form990PartVIISectionAGrp/PersonNm8Brendan Duffy
IRS990/Form990PartVIISectionAGrp/PersonNm9Richard McFarland
IRS990/Form990PartVIISectionAGrp/PersonNm10Paul Mailhot
IRS990/Form990PartVIISectionAGrp/PersonNm11Thomas Deyak
IRS990/Form990PartVIISectionAGrp/PersonNm12Damian Hile
IRS990/Form990PartVIISectionAGrp/PersonNm13Michael Pisani
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Deputy Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Chief Operating Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt8Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt9Chief Regulatory Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chief Membership Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Controller
IRS990/Form990PartVIISectionAGrp/TitleTxt12Sr Process Development Scientist
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director of Technology Operations
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IRS990/MissionDesc0ARMI's mission is to support, develop, advance and promote the United States bioeconomy.
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0BioFabUSA CARES Act Funded Program (DoD-Directed)
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0ARMI's monitoring level is dependent on a risk assessment, which is completed on all subawards. Based on this assessment, ARMI performed procedures that included, but were not limited to, the following: o development of a written Statement of Work o periodic conference calls to review progress related to the Statement of Work o review of all deliverables prior to approval of invoices
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1Part III Accounting Method:
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IRS990ScheduleI/RecipientTable/CashGrantAmt3542376
IRS990ScheduleI/RecipientTable/CashGrantAmt36810223

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