Nonprofit · EIN 46-0481876
BIOADVANCE
Tax-exempt · CONSHOHOCKEN, PA 19428
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $7,785,105 | $2,686,198 | $5,098,907 | $86,406,908 | $6,081,380 | $80,325,528 |
| June 30, 2024 | 990 | $7,128,753 | $2,624,935 | $4,503,818 | $81,128,530 | $3,347,474 | $77,781,056 |
| June 30, 2023 | 990 | $1,586,292 | $2,508,519 | -$922,227 | $81,948,557 | $4,605,680 | $77,342,877 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,609,000
- of which government grants
- $1,609,000
- Program service revenue
- $3,941,757
- Investment income
- $1,973,518
- Royalties
- $255,830
- Net gain from sales of assets
- $234,761
- Other revenue
- $260,830
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,037,037
- Other salaries and wages
- $842,463
- Salaries, compensation and benefits (total)
- $2,053,415
- Professional fundraising fees
- $0
- Legal fees
- $45,390
- Accounting fees
- $49,200
- Occupancy
- $123,260
- Travel
- $4,220
- Depreciation
- $23,100
- Program services (functional)
- $1,635,465
- Management and general (functional)
- $1,050,733
Balance sheet and other
- Total assets, start of year
- $81,128,530
- Total assets, end of year
- $86,406,908
- Total liabilities, end of year
- $6,081,380
- Net assets, end of year
- $80,325,528
- Land, buildings and equipment
- $81,170
- Publicly traded securities
- $26,830,020
- Net assets without donor restrictions
- $80,325,528
- Gross receipts
- $17,058,994
- Employees
- 6
- Volunteers
- 8
- Year formed
- 2002
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHAHRAM HEJAZI | CEO & MANAGING DIRECTOR Trustee or director, Officer | 32 | $392,987 | $60,625 |
| DAVID SHIN | COO AND SECRETARY Officer | 40 | $332,509 | $0 |
| ROBERT DRISCOLL | DIRECTOR OF FINANCE Highest-paid employee | 40 | $250,203 | $49,744 |
| GREG HARRIMAN | VP AND ASST SECRETARY Officer | 24 | $240,026 | $10,890 |
| FREDERICK JONES | ADVISORY PARTNER Highest-paid employee | 24 | $169,199 | $14,030 |
| MARNIE MCCOY | PROGRAM DIRECTOR Highest-paid employee | 40 | $157,234 | $18,773 |
| JEN GILBURG | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| PHILIP GERBINO PHARMD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ROY M ROSIN | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LAUREN LENFEST | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| STEVEN NICHTBERGER MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| BARBARA S SCHILBERG | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DR JOHN EPSTEIN | DIRECTOR (EFF 6/13/25) Trustee or director | 0.5 | $0 | $0 |
| DR MARIE LINDNER | DIRECTOR (EFF 6/13/25) Trustee or director | 0.5 | $0 | $0 |
990 for the year ended June 30, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FREDERICK JONES | VP (SECRETARY THRU 6/1/24) Officer | 40 | $347,954 | $57,289 |
| SHAHRAM HEJAZI | CEO & MANAGING DIRECTOR Trustee or director, Officer | 32 | $346,373 | $58,104 |
| ROBERT DRISCOLL | DIRECTOR OF FINANCE Highest-paid employee | 40 | $225,611 | $45,343 |
| GREG HARRIMAN | VP AND ASST SECRETARY Officer | 24 | $215,100 | $10,143 |
| MARNIE MCCOY | PROGRAM DIRECTOR Highest-paid employee | 40 | $141,121 | $16,830 |
| DAVID SHIN | COO AND SECRETARY (EFF 6/6/24) Officer | 40 | $23,333 | $0 |
| JEN GILBURG | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| PHILIP GERBINO PHARMD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JOHN GILL | DIRECTOR (THRU 2/24) Trustee or director | 0.5 | $0 | $0 |
| ROY M ROSIN | DIRECTOR (EFF 2/24) Trustee or director | 0.5 | $0 | $0 |
| LAUREN LENFEST | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| STEVEN NICHTBERGER MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| BARBARA S SCHILBERG | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| J LARRY JAMISON MD PHD | DIRECTOR (THRU 12/23) Trustee or director | 0.5 | $0 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FREDERICK JONES | VP AND SECRETARY Officer | 40 | $331,836 | $62,513 |
| SHAHRAM HEJAZI | CEO & MANAGING DIRECTOR Trustee or director, Officer | 32 | $329,086 | $57,584 |
| ROBERT DRISCOLL | DIRECTOR OF FINANCE Highest-paid employee | 40 | $215,197 | $46,514 |
| GREG HARRIMAN | VP AND ASST SECRETARY Officer | 24 | $194,362 | $5,831 |
| MARNIE MCCOY | PROGRAM DIRECTOR Highest-paid employee | 40 | $135,506 | $16,648 |
| STEPHEN D'ETTORRE | DIRECTOR (THRU 12/22) Trustee or director | 0.5 | $0 | $0 |
| PHILIP GERBINO PHARMD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JOHN GILL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| J LARRY JAMESON MD PHD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LAUREN LENFEST | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| STEVEN NICHTBERGER MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| NEIL FOWLER | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| BARBARA S SCHILBERG | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 101 WEST ELM STREET, CONSHOHOCKEN, PA 19428-2075
- Principal officer (990 for 2024)
- SHAHRAM HEJAZI, 101 WEST ELM STREET 330, CONSHOHOCKEN, PA 19428
- Signed the 990
- SHAHRAM HEJAZI, CEO & MANAGING DIRECTOR
- Phone
- (610) 230-0536
- Website
- WWW.BIOADVANCE.COM
- Return prepared by
- EISNER ADVISORY GROUP LLC
Mission
BIOADVANCE CAPITAL (FORMERLY BIOADVANCE) WAS ESTABLISHED IN 2001 AS ONE OF THE THREE LIFE SCIENCES GREENHOUSES FUNDED WITH A SHARE OF PENNSYLVANIA'S NATIONAL TOBACCO SETTLEMENT REVENUES TO PROMOTE HUMAN HEALTH BY SUPPORTING BIOMEDICAL INNOVATION IN SOUTHEASTERN PENNSYLVANIA. THE ORGANIZATION DEDICATED $25 MILLION OF THE ORIGINAL GRANT FUNDING TO PRE SEED AND EARLY STAGE INVESTMENTS TO HELP ADVANCE TECHNOLOGIES TO THE NEXT STAGE OF DEVELOPMENT. SINCE THE ORIGINAL GRANT FUNDING WAS EXPENDED, BIOADVANCE CAPITAL HAS CONTINUED TO SUPPORT EMERGING LIFE SCIENCES COMPANIES IN SOUTHEASTERN PENNSYLVANIA AND THE SURROUNDING MID ATLANTIC REGION, WITH A FOCUS ON TECHNOLOGIES THAT IMPROVE HUMAN HEALTH.
Program accomplishments
- GREENHOUSE PROGRAM - THE CORNERSTONE OF BIOADVANCE INVESTMENT ACTIVITIES - WAS LAUNCHED TWO MONTHS AFTER RECEIVING THE DCED GRANT. THE PROGRAM FUNDS YOUNG COMPANIES FOR RESEARCH, DEVELOPMENT AND COMMERCIALIZATION ACTIVITIES THAT WILL PROVIDE ENOUGH PROGRESS TO ENABLE THEM TO ATTRACT VENTURE CAPITAL OR AN INDUSTRY PARTNER. INDIVIDUAL COMPANIES ARE ELIGIBLE TO RECEIVE UP TO $5,000,000 WHICH OFTEN IS DISBURSED AS MILESTONES ARE ACHIEVED, UNLESS THE CAP IS INCREASED BY THE BOARD. THE INVESTMENTS ARE IN THE FORM OF EQUITY OR A NOTE THAT CONVERTS INTO EQUITY UPON A SPECIFIED MINIMUM SIZE OF DOLLAR FUNDING.Expenses $1,635,465 · revenue $4,504,711
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 46-0481876
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O055)
- Assets (IRS master file)
- $86,406,908
- Income (IRS master file)
- $17,058,994
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $7,785,105 | $2,686,198 | $86,406,908 | IRS |
| 990 | June 2024 | $7,128,753 | $2,624,935 | $81,128,530 | IRS |
| 990 | June 2023 | $1,586,292 | $2,508,519 | $81,948,557 | XML |
| 990 | June 2022 | $2,523,586 | $2,278,521 | $73,104,917 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-0481876).
Questions about BIOADVANCE
- What is the EIN of BIOADVANCE?
- The employer identification number (EIN) of BIOADVANCE is 46-0481876.
- Is BIOADVANCE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to BIOADVANCE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BIOADVANCE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BIOADVANCE due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BIOADVANCE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of BIOADVANCE?
- The 990 for the year ended June 30, 2025 names SHAHRAM HEJAZI.
- Who are the officers and directors of BIOADVANCE?
- The 990 for the year ended June 30, 2025 lists 14 people; 6 received compensation from the organization, the highest $392,987 (SHAHRAM HEJAZI, CEO & MANAGING DIRECTOR).
- How much revenue does BIOADVANCE have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $7,785,105, expenses of $2,686,198 and total assets of $86,406,908 at year end.
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