Civic Intelligence

Phare Bio Inc.

990 • Fiscal year 2023 • EIN 85-1085804

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 06, 2024

303 Congress Street 2nd FloorBoston, MA 02210

(617) 426-5900

Siviq Scores

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

Liabilities / Assets

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

0.04x

Higher debt load relative to revenue than 40% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

86th percentile

38%

Higher net margin than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

98th percentile

$551,782

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 27.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

93rd percentile

82%

Faster asset growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

74th percentile

29%

Faster revenue growth than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,837,494

Up $828,059 (+82%) from 2022

Net Assets

Up

$1,749,359

Up $765,389 (+78%) from 2022

Liabilities

Up

$88,135

Up $62,670 (+246%) from 2022

Revenue

Up

$2,009,513

Up $450,690 (+29%) from 2022

Expenses

Up

$1,249,510

Up $70,846 (+6.0%) from 2022

Net Income

Up

$760,003

Up $379,844 (+100%) 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 2019: $1Liabilities 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $632,271Liabilities 2021: $28,461Net Assets 2021: $603,8102021Assets 2022: $1,009,435Liabilities 2022: $25,465Net Assets 2022: $983,9702022Assets 2023: $1,837,494Liabilities 2023: $88,135Net Assets 2023: $1,749,3592023Assets 2024: $2,586,256Liabilities 2024: $76,903Net Assets 2024: $2,509,3532024

Highlighted filing

2023

Assets$1,837,494
Liabilities$88,135
Net Assets$1,749,359

Operations Trend

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

$3.0M$2.0M$1.0M$0Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $1,057,242Expenses 2021: $453,432Net Income 2021: $603,8102021Revenue 2022: $1,558,823Expenses 2022: $1,178,664Net Income 2022: $380,1592022Revenue 2023: $2,009,513Expenses 2023: $1,249,510Net Income 2023: $760,0032023Revenue 2024: $2,148,132Expenses 2024: $1,461,003Net Income 2024: $687,1292024

Highlighted filing

2023

Revenue$2,009,513
Expenses$1,249,510
Net Income$760,003
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 6, 2024
Return Version
2022v5.0
Gross Receipts
$2,009,513
Mission and Program Overview

Mission

Non profit bio tech research

Phare bio uses ai/deep learning to develop novel antibiotics to tackle antimicrobial resistance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$1,005,384-
Savings and Temporary Cash Investments-$553,421-
Cash and Non-Interest-Bearing Accounts$993,256$275,000▼ $718,256
Prepaid Expenses and Deferred Charges$16,179$3,689▼ $12,490
Total Assets$1,009,435$1,837,494▲ $828,059
Liabilities
Accounts Payable and Accrued Expenses$25,465$88,135▲ $62,670
Total Liabilities$25,465$88,135▲ $62,670
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$983,970$1,749,359▲ $765,389
Total Net Assets Fund Balance$983,970$1,749,359▲ $765,389
Total Liabilities and Net Assets / Fund Balance$1,009,435$1,837,494▲ $828,059
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Akhila KosarajuCEO & PresidentFT$399,282$152,500$551,782

Board Members and Trustees

NameTitle
William FosterChair & Treasurer
James CollinsDirector
Jose-carlos Guttierez-ramosDirector
Robert PlengeDirector
Steve EllisDirector
Susan UrahnDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,007,643
Program Service Revenue
$0
Investment Income
$26
Other Revenue
$1,844
All Other Contributions
$2,007,643
Change in Net Assets
$760,003

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,009,513
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,386
Total Revenue per Audited Statements
$2,014,899
Total Revenue per Form 990
$2,009,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$883,402
Other Expenses$352,916
Grants and Similar Amounts Paid$13,192
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$684,762$120,840-$805,602
Fees for Services Other$122,564$45,252-$167,816
Fees for Services Accounting-$93,273-$93,273
Advertising-$50,701-$50,701
Payroll Taxes$34,441$6,078-$40,519
Other Employee Benefits$31,689$5,592-$37,281
Fees for Services Legal$13,956$3,489-$17,445
Foreign Grants$13,192--$13,192
Travel-$9,818-$9,818
Occupancy-$5,478-$5,478
Office Expenses-$3,875-$3,875
Insurance-$2,149-$2,149
Other Expenses-$510-$510
Conferences and Meetings-$231-$231
Total Functional Expenses$900,604$348,906$0$1,249,510

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,249,510
Total Expenses per Audited Statements$1,249,510
Total Expenses per Form 990$1,249,510
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$13,192

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
North AmericaResearch GrantGrants to Recipients in the Region00$13,192
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
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
Yes
Other officer compensation reviewed
Yes
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

Phare bio's directors, officers, accounting and legal teams will review the 990 prior to filing.

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

All officers and directors are trained annually on the phare bio inc conflict of interest policy (adopted may 2020) and must acknowledge adherence to the policy. Any conflict of interest disclosures are required and must be updated with any new potential conflicts. The president and board of directors oversee all conflict of interest disclosures and compliance per the phare bio inc conflict of interest policy. Should a potential conflict arise, the board will determine whether a conflict exists and vote on any appropriate actions, be it disciplinary, corrective or otherwise.

Form 990, Part VI, Section B, Line 15

The board, led by the ceo and reviewed by the treasurer, determines all officer compensation by conducting an industry comparables analysis for both salaries and bonuses. Bonuses are approved by the board at the annual board meeting (along with the annual budget, which includes the salary and compensation budget) based on achievement of performance metrics set by the organization and approved by the board. The process described here was last completed in 2023.

Form 990, Part VI, Section C, Line 19

The organization makes its financial statements, policies, and other documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Phare Bio Inc
EIN
85-1085804
Phone
6174265900
Address
303 CONGRESS STREET 2ND FLOOR, BOSTON, MA 02210

Signing Officer

Name
Akhila Kosaraju
Title
CEO and President
Phone
6174265900
Signed
2024-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Akhila Kosaraju
Formed
2020
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
6
Employees
3
Volunteers
6

Preparer

Firm
Cliftonlarsonallen Llp
Address
4 BATTERYMARCH PARK SUITE 100, QUINCY, MA 02169
Preparer
Danielle Nihill
Phone
7819821001
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract services: program service expenses 122,564. Management and general expenses 45,252. Fundraising expenses 0. Total expenses 167,816.

FORM 990, PART XI, LINE 9:

Foreign currency gain/loss 26.

Financial Statement Notes

PART X, LINE 2:

Phare bio, inc. Is organized as a delaware nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under internal revenue code (irc) section 501(a) as an organization described in irc section 501(c)(3), qualify for the charitable contribution deduction under irc sections 170(b)(1)(a)(vi) and has been determined not to be a private foundation under irc sections 509(a)(1). The organization is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the entity is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purpose; however, it was determined that the entity is not subject to unrelated business income tax and have not filed an exempt organization business income tax return (form 990-t) with the irs.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Foreign currency gain/loss 26.

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IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISC INCOME - 2022 AMOUNT: $ 1,844.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02007643
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01557143
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01057242
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04622028
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt026
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01844
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01844
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt02492766
IRS990ScheduleA/SubstantialContributorsTotAmt02129262
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02007643
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01557143
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01057242
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04622028
IRS990ScheduleA/TotalSupportAmt04625578
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus1YearAmt01680
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt01680
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/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01249510
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt05360
IRS990ScheduleD/OtherRevenueAmt026
IRS990ScheduleD/RevenueNotReportedAmt05386
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02009513
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PHARE BIO, INC. IS ORGANIZED AS A DELAWARE NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER IRC SECTIONS 170(B)(1)(A)(VI) AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER IRC SECTIONS 509(A)(1). THE ORGANIZATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ENTITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSE; HOWEVER, IT WAS DETERMINED THAT THE ENTITY IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAVE NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FOREIGN CURRENCY GAIN/LOSS 26.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01249510
IRS990ScheduleD/TotalRevenuePerForm990Amt02009513
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02014899
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01249510
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt013192
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0NORTH AMERICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0GRANTS TO RECIPIENTS IN THE REGION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0RESEARCH GRANT
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt013192
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0CHECK
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0MCMASTER UNIVERSITY (THE STOKES LAB)
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0NORTH AMERICA
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt013192
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0PHARE BIO CLOSELY MONITORS GRANT FUNDS OUTSIDE OF THE US WITH QUARTERLY REPORTING, PAYMENTS ONLY UPON DETAILED SCIENTIFIC MILESTONES ACHIEVED, AND CLOSE COLLABORATION WITH THE GRANTEE ORGANIZATION.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1IN EXCHANGE FOR THE FULL AND PROPER PERFORMANCE OF THE RESEARCH UNDER THIS AGREEMENT, ORGANIZATION AGREES TO PAY MCMASTER THE FEES ON THE TIMELINE AND SUBJECT TO THE CONDITIONS (INCLUDING THE DELIVERY OF ANY DELIVERABLES) AS SPECIFIED IN SCHEDULE A. IN THE EVENT OF TERMINATION, THE ORGANIZATION SHALL PAY MCMASTER ANY FEES FOR ANY RESEARCH COMPLETED UP TO AND INCLUDING THE DATE OF SUCH TERMINATION, AND ANY OTHER COSTS DIRECTLY RESULTING FROM SUCH TERMINATION INCLUDING OBLIGATIONS UNDER THE ONTARIO EMPLOYMENT STANDARDS ACT, EXCEPT IN THE EVENT OF A MATERIAL BREACH BY MCMASTER.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2MCMASTER WILL BE PAID A TOTAL FEE OF $30,000 AS THREE PAYMENTS OF $10,000 EACH EVERY 4 MONTHS STARTING 1/15/2022 FOR RESEARCH PERFORMED. IN ADDITION, MCMASTER WILL BE PAID A ONE-TIME $7,500 FEE FOR OVERHEAD AT THE TIME OF THE SECOND PAYMENT
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III ACCOUNTING METHOD:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc2PART III: ACCOUNTING METHOD
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE A: RESEARCH PLAN
IRS990ScheduleF/Total501c3OrgCnt01
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt013192
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0399282
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount0132000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt020500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AKHILA KOSARAJU
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO & PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0551782
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PHARE BIO'S DIRECTORS, OFFICERS, ACCOUNTING AND LEGAL TEAMS WILL REVIEW THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL OFFICERS AND DIRECTORS ARE TRAINED ANNUALLY ON THE PHARE BIO INC CONFLICT OF INTEREST POLICY (ADOPTED MAY 2020) AND MUST ACKNOWLEDGE ADHERENCE TO THE POLICY. ANY CONFLICT OF INTEREST DISCLOSURES ARE REQUIRED AND MUST BE UPDATED WITH ANY NEW POTENTIAL CONFLICTS. THE PRESIDENT AND BOARD OF DIRECTORS OVERSEE ALL CONFLICT OF INTEREST DISCLOSURES AND COMPLIANCE PER THE PHARE BIO INC CONFLICT OF INTEREST POLICY. SHOULD A POTENTIAL CONFLICT ARISE, THE BOARD WILL DETERMINE WHETHER A CONFLICT EXISTS AND VOTE ON ANY APPROPRIATE ACTIONS, BE IT DISCIPLINARY, CORRECTIVE OR OTHERWISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD, LED BY THE CEO AND REVIEWED BY THE TREASURER, DETERMINES ALL OFFICER COMPENSATION BY CONDUCTING AN INDUSTRY COMPARABLES ANALYSIS FOR BOTH SALARIES AND BONUSES. BONUSES ARE APPROVED BY THE BOARD AT THE ANNUAL BOARD MEETING (ALONG WITH THE ANNUAL BUDGET, WHICH INCLUDES THE SALARY AND COMPENSATION BUDGET) BASED ON ACHIEVEMENT OF PERFORMANCE METRICS SET BY THE ORGANIZATION AND APPROVED BY THE BOARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, POLICIES, AND OTHER DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 122,564. MANAGEMENT AND GENERAL EXPENSES 45,252. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 167,816.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FOREIGN CURRENCY GAIN/LOSS 26.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0PHARE BIO INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0PHARE DISCOVERIES LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0612087958
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0SCIENTIFIC RESEARCH
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0303 CONGRESS ST
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BOSTON
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd002210
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/StatesWhereCopyOfReturnIsFldCd1NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01009435
IRS990/TotalAssetsEOYAmt01837494
IRS990/TotalAssetsGrp/BOYAmt01009435
IRS990/TotalAssetsGrp/EOYAmt01837494
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt02007643
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0348906
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0900604

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