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Organizations Community Improvement & Capacity Building University at Albany Bioscience Development Corporation

University at Albany Bioscience Development Corporation

Fiscal year ending 2023. Filed on May 9, 2024.

1400 Washington Avenue Uab 226
Albany, New York 12222

University at Albany Bioscience Development Corporation (EIN: 36-4619281) has filed an IRS Form 990 between fiscal years 2021 and 2023. In its fiscal year 2023 IRS Form 990 filing, University at Albany Bioscience Development Corporation, a 501(c)(25) multi-parent title-holding organization, reported compensation for 1 employee. Among the employees shown here, the average compensation is $249,361. The highest compensated employee at University at Albany Bioscience Development Corporation is Richard McGinn Jr with fiscal year 2023 compensation of $249,361.

Revenue, expenses, and employee compensation

Revenue

$6,725,412

Expenses

$8,113,665

Employee compensation

$0
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Richard McGinn Jr
Executive Director
$249,361
$0 $224,993 $24,368

Benchmark Employee Compensation

Non-Employee Board Members

Fardin Sanai
Secretary
$14,846
$0 $14,846 No other comp
Jeffrey Black
Treasurer
No compensation reported
Brian Straughter
Director
No compensation reported
George Hearst
Vice President
No compensation reported
Edward Swyer
President
No compensation reported
Havidan Rodriguez
Director
No compensation reported
Amy Knapp
Director
No compensation reported
Todd Foreman
Director
No compensation reported

Contractors

Aramark Facility Services
Facility Management
$2,961,448
The University at Albany Foundation
Management
$366,402

Mission Statement

THE PURPOSE OF THE CORPORATION IS TO ACQUIRE REAL PROPERTY AND HOLD TITLE TO SUCH PROPERTY FOR THE PURPOSE OF CREATING A COMMERCIAL LIFE SCIENCE, RESEARCH, AND TECHNOLOGY CLUSTER IN AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP AND RESEARCH CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY. THE LAWFUL PUBLIC OR QUASI-PUBLIC OBJECTIVE WHICH EACH OF THE FOREGOING PURPOSES WILL ACHIEVE SHALL BE TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY BY ACQUIRING AND HOLDING TITLE TO FACILITIES IN WHICH SCIENCE RESEARCH AND SCHOLARLY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES.

Revisions to this organization profile

May 9, 2024:
2023 University at Albany Bioscience Development Corporation 990 filed
May 10, 2023:
2022 University at Albany Bioscience Development Corporation 990 filed
May 9, 2022:
2021 University at Albany Bioscience Development Corporation 990 filed

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