Civic Intelligence

Nucleate Bio Inc.

990 • Fiscal year 2022 • EIN 86-3225994

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

88 Gordon Street 401Brighton, MA 02135

(703) 944-8324

Siviq Scores

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

Liabilities / Assets

85th percentile

0.51x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

0.28x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

68th percentile

18%

Higher net margin than 68% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

96th percentile

159%

Faster asset growth than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

812%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$659,215

Up $404,435 (+159%) from 2021

Net Assets

Up

$319,905

Up $216,884 (+211%) from 2021

Liabilities

Up

$339,310

Up $187,551 (+124%) from 2021

Revenue

Up

$1,199,698

Up $1,068,196 (+812%) from 2021

Expenses

Up

$982,814

Up $954,333 (+3351%) from 2021

Net Income

Up

$216,884

Up $113,863 (+111%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2021: $254,780Liabilities 2021: $151,759Net Assets 2021: $103,0212021Assets 2022: $659,215Liabilities 2022: $339,310Net Assets 2022: $319,9052022Assets 2023: $743,650Liabilities 2023: $229,343Net Assets 2023: $514,3072023Assets 2024: $1,046,905Liabilities 2024: $319,083Net Assets 2024: $727,8222024

Highlighted filing

2022

Assets$659,215
Liabilities$339,310
Net Assets$319,905

Operations Trend

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

$3.0M$2.0M$1.0M$0Revenue 2021: $131,502Expenses 2021: $28,481Net Income 2021: $103,0212021Revenue 2022: $1,199,698Expenses 2022: $982,814Net Income 2022: $216,8842022Revenue 2023: $2,574,023Expenses 2023: $2,379,621Net Income 2023: $194,4022023Revenue 2024: $2,418,388Expenses 2024: $2,204,873Net Income 2024: $213,5152024

Highlighted filing

2022

Revenue$1,199,698
Expenses$982,814
Net Income$216,884
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$1,199,698
Mission and Program Overview

Mission

Empower tomorrow's biotech leaders by educating today's acedemic trainees

To empower tomorrow's biotech leaders by educating today's academic trainees

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$232,280$545,215▲ $312,935
Pledges and Grants Receivable$22,500$114,000▲ $91,500
Total Assets$254,780$659,215▲ $404,435
Liabilities
Deferred Revenue$143,030$328,731▲ $185,701
Accounts Payable and Accrued Expenses$8,729$10,579▲ $1,850
Total Liabilities$151,759$339,310▲ $187,551
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$103,021$219,905▲ $116,884
Net Assets With Donor Restrictions-$100,000-
Total Net Assets Fund Balance$103,021$319,905▲ $216,884
Total Liabilities and Net Assets / Fund Balance$254,780$659,215▲ $404,435
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,189,547
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$10,151
All Other Contributions
$1,189,547
Change in Net Assets
$216,884

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,199,698
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,199,698
Total Revenue per Form 990
$1,199,698
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$917,878
Salaries, Compensation, and Employee Benefits$52,936
Grants and Similar Amounts Paid$12,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$143,721--$143,721
Other Salaries and Wages$34,220$14,666-$48,886
Office Expenses$20,055$28,784-$48,839
Fees for Services Other-$33,242-$33,242
Information Technology$33,198--$33,198
Fees for Services Accounting-$32,311-$32,311
Other Expenses$30,476--$30,476
Occupancy$28,557--$28,557
Advertising$25,075--$25,075
Grants to Domestic Individuals$12,000--$12,000
Payroll Taxes$2,835$1,215-$4,050
Fees for Services Legal-$3,500-$3,500
Total Functional Expenses$869,096$113,718$0$982,814

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$982,814
Total Expenses per Audited Statements$982,814
Total Expenses per Form 990$982,814
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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 B, Line 11B

A copy of the 990 is provided to the organization's governing board prior to being filed for their review.

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

The conflict of interest policy is self monitored by individual board members and has oversight by the board members.

Form 990, Part VI, Section B, Line 15A

The process for determining compensation for the executive director includes review by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Nucleate Bio Inc
EIN
86-3225994
Phone
7039448324
Address
88 GORDON STREET 401, BRIGHTON, MA 02135

Signing Officer

Name
Oliver Dodd
Title
Treasurer
Phone
7039448324
Signed
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Oliver Dodd
Formed
2021
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
0

Preparer

Firm
Whittlesey Pc
Address
14 BOBALA RD, HOLYOKE, MA 01040
Preparer
Thomas Dowling
Phone
4135363970
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No changes to the organization's oversight or selection process during the tax year

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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/Desc0SEE SCHEDULE OACTIVATOR PROGRAM - THE GOAL OF THE NUCLEATE "ACTIVATOR" PROGRAM IS TO PROVIDE A RIGOROUS AND COMPREHENSIVE EDUCATIONAL EXPERIENCE TO FUTURE BIOTECH ENTREPRENEURS. OUR CORE CURRICULUM CONSISTS OF BI-WEEKLY WORKSHOPS HELD THROUGHOUT THE SPRING, AND CULMINATES IN A FINAL PITCH EVENT WHERE TEAMS SHOWCASE THEIR COMPANIES TO A LARGE AUDIENCE OF INDUSTRY STAKEHOLDERS.THE WORKSHOPS, CREATED IN COLLABORATION WITH OUR WORLD-CLASS ADVISORS, ARE STRUCTURED TO ADDRESS CRITICAL ASPECTS OF EARLY-STAGE LIFE SCIENCE COMPANY FORMATION. TOGETHER, THEY ARE DESIGNED TO PROVIDE A ROADMAP FOR TRANSLATING AND COMMERCIALIZING EARLY-STAGE TECHNOLOGY CONCEPTS.EACH WORKSHOP CONSISTS OF THREE PARTS:1) PRE-WORK - TEAMS PREPARE SLIDES AND DISCUSSION TOPICS AHEAD OF EACH WORKSHOP, WHICH ARE CIRCULATED TO WORKSHOP EXPERTS IN ADVANCE. AT THE END OF THE PROGRAM, THESE SLIDES WILL FORM THE BUILDING BLOCKS OF THEIR FINAL 10-15 MINUTE POLISHED PITCH DECK.2) HANDS-ON FEEDBACK - DURING THE 2-HOUR WORKSHOPS, TEAMS ARE PAIRED WITH EXPERTS RELEVANT TO THEIR TARGETED MARKET AND/OR TECHNOLOGY WHO PROVIDE FEEDBACK ON THE MATERIALS PRESENTED BY THE TEAMS.3) POST-WORK - AFTER EACH WORKSHOP, TEAMS INTEGRATE EXPERT FEEDBACK AND PROVIDE AN ON TOPIC, ONE PARAGRAPH WRITTEN SUMMARY OUTLINING WHAT WAS LEARNED AND WHAT QUESTIONS ARE STILL OUTSTANDIN. THE POST-WORK SUMMARY FROM EACH WORKSHOP WILL FUNCTION AS A BUILDING BLOCK FOR THE FINAL BUSINESS PLAN.BY THE END OF THE PROGRAM, TEAMS WILL LEAVE WITH A POLISHED PITCH DECK, WRITTEN BUSINESS PLAN, FUNDRAISING STRATEGY, AND A NETWORK OF RELEVANT INDUSTRY ADVISORS AND MENTORS. THIS YEAR, OUR CURRICULUM WILL BE MANAGED AND ADMINISTERED THROUGH THE EDUFLOW PLATFORM TO CREATE AN INTEGRATED, UNIFORM, AND SEAMLESS EXPERIENCE FOR PARTICIPANTS
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt032
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt032
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt032
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt032
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt010151
IRS990ScheduleA/OtherIncome509Grp/TotalAmt010151
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt01331168
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01199698
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0131470
IRS990ScheduleA/Total509Grp/TotalAmt01331168
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01209849
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0131502
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01341351
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/ExpensesSubtotalAmt0982814
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01199698
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0982814
IRS990ScheduleD/TotalRevenuePerForm990Amt01199698
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01199698
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0982814
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt012000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FELLOWSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt03
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BOARD PRIOR TO BEING FILED FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS SELF MONITORED BY INDIVIDUAL BOARD MEMBERS AND HAS OVERSIGHT BY THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS FOR DETERMINING COMPENSATION FOR THE EXECUTIVE DIRECTOR INCLUDES REVIEW BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO CHANGES TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0254780
IRS990/TotalAssetsEOYAmt0659215
IRS990/TotalAssetsGrp/BOYAmt0254780
IRS990/TotalAssetsGrp/EOYAmt0659215
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01189547
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113718
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0869096
IRS990/TotalFunctionalExpensesGrp/TotalAmt0982814
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0151759
IRS990/TotalLiabilitiesEOYAmt0339310
IRS990/TotalLiabilitiesGrp/BOYAmt0151759
IRS990/TotalLiabilitiesGrp/EOYAmt0339310
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0103021
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0319905
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0869096
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010151
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01199698
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0254780
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0659215
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0143721
IRS990/TravelGrp/TotalAmt0143721
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt088 GORDON STREET APT 401
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002135
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0NUCLEATE.XYZ
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0OLIVER DODD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07039448324
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NUCLEATE BIO INC
ReturnHeader/Filer/BusinessNameControlTxt0NUCL
ReturnHeader/Filer/EIN0863225994
ReturnHeader/Filer/PhoneNum07039448324
ReturnHeader/Filer/USAddress/AddressLine1Txt088 GORDON STREET 401
ReturnHeader/Filer/USAddress/CityNm0BRIGHTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002135
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060903326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WHITTLESEY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt014 BOBALA RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOLYOKE

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