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Nonprofit · EIN 46-5632420

INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC

Tax-exempt · UNION, NJ 07083

Financials

$911K$813K2023$953K$923K2024
Revenue Expenses · by fiscal year end
Financials of INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$952,664$923,330$29,334$1,656,608$536,098$1,120,510
December 31, 2023990$911,287$812,815$98,472$1,180,161$56,185$1,123,976
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$501,513
of which government grants
$28,654
Program service revenue
$423,880
Investment income
$27,271
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$468,942
Other salaries and wages
$134,835
Salaries, compensation and benefits (total)
$687,839
Professional fundraising fees
$0
Accounting fees
$47,250
Travel
$18,545
Depreciation
$8,244
Program services (functional)
$764,594
Management and general (functional)
$158,736

Balance sheet and other

Total assets, start of year
$1,180,161
Total assets, end of year
$1,656,608
Total liabilities, end of year
$536,098
Net assets, end of year
$1,120,510
Land, buildings and equipment
$6,538
Net assets without donor restrictions
$1,120,510
Gross receipts
$952,664
Employees
5
Volunteers
6
Year formed
2014
State of legal domicile
NJ

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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
ROBERT MCLAUGHLINVICE PRESIDENT OF RESEARCH
Officer
40$155,000$12,162
TOM RICHARDSONPRESIDENT
Officer
40$134,123$17,481
AJAY KUMARVICE PRESIDENT
Highest-paid employee
40$150,000$164
KEITH A BOSTIAN PHDPRESIDENT/CEO
Trustee or director, Officer
8$0$0
PAMELA DEMAINTRUSTEE
Trustee or director
0.5$0$0
WILLIAM HANLONTRUSTEE
Trustee or director
0.5$0$0
LISA DEBERARDINETRUSTEE
Trustee or director
0.5$0$0
SANDRA POWELL-ELLIOTTTRUSTEE
Trustee or director
0.5$0$0
ANDREW BRANNENTRUSTEE
Trustee or director
0.5$0$0
990 for the year ended December 31, 2023: 9 people
NameTitleHours / weekCompensationOther / benefits
ROBERT MCLAUGHLINVICE PRESIDENT OF RESEARCH
Officer
40$155,000$665
AJAY KUMARVICE PRESIDENT
Highest-paid employee
40$150,000$143
TOM RICHARDSONPRESIDENT
Officer
40$95,607$12,450
KEITH A BOSTIAN PHDPRESIDENT/CEO
Trustee or director, Officer
8$0$0
PAMELA DEMAINTRUSTEE
Trustee or director
0.5$0$0
WILLIAM HANLONTRUSTEE
Trustee or director
0.5$0$0
LISA DEBERARDINETRUSTEE
Trustee or director
0.5$0$0
SANDRA POWELL-ELLIOTTTRUSTEE
Trustee or director
0.5$0$0
ANDREW BRANNENTRUSTEE
Trustee or director
0.5$0$0

Address and contacts

Address (IRS master file)
1000 MORRIS AVENUE STEM BUILDING, UNION, NJ 07083-7133
In care of
% STEM BLDG 5-13
Principal officer (990 for 2024)
DR KEITH BOSTIAN, 1000 MORRIS AVENUE STEM BUILDING, UNION, NJ 07083
Signed the 990
DR KEITH BOSTIAN, CEO
Phone
(908) 737-1922
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

THE MISSION OF THE INSTITUTE AS A GATEWAY FOR INTEGRATING THE EXTRAORDINARY ACADEMIC, INDUSTRIAL AND ENTREPRENEURIAL RESOURCES OF THE NEW YORK/NEW JERSEY METROPOLITAN AREA INTO A DYNAMIC RAPID-RESPONSE ENTERPRISE FOR ADVANCING BASIC AND TRANSLATIONAL RESEARCH AND ENTREPRENEURISM IN THE LIFE SCIENCES. IT IS STRUCTURED AS A NON-PROFIT, AUTONOMOUS LIFE SCIENCE RESEARCH INSTITUTE LOCATED ON THE CAMPUS OF KEAN UNIVERSITY, IN UNION, NEW JERSEY, GOVERNED BY A BOARD OF DIRECTORS.

990 for the year ended December 31, 2024

Program accomplishments

  • BY DESIGN, THE INSTITUTE IS MULTIDIMENSIONAL, MULTIDISCIPLINARY, AND COLLABORATIVE. THE GOAL IS TO ACCELERATE TRANSLATION OF SCIENCE AND TECHNOLOGICAL ADVANCES INTO INNOVATIVE AND PRACTICAL SOLUTIONS, WHICH WILL CONTRIBUTE TO ECONOMIC DEVELOPMENT, HIGH-SKILL MANUFACTURING AND WEALTH CREATION, WHILE FEEDING BACK TO CATALYZE THE CREATION OF AN EFFICIENT AND EFFECTIVE RESOURCE AND PROVIDE TRAINING AND EXPERIENCE IN ENTREPRENEURSHIP.
    Expenses $764,594 · revenue $423,880

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Check at the IRS
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
46-5632420
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
2014
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Medical research (H99)
Assets (IRS master file)
$1,587,090
Income (IRS master file)
$1,209,748

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$952,664$923,330$1,656,608XML
990December 2023$911,287$812,815$1,180,161XML
990December 2022$1,059,927$798,575$1,079,920IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 46-5632420).

Questions about INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC

What is the EIN of INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC?
The employer identification number (EIN) of INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC is 46-5632420.
Is INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
Are donations to INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC 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 INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC?
The 990 for the year ended December 31, 2024 names DR KEITH BOSTIAN.
Who are the officers and directors of INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC?
The 990 for the year ended December 31, 2024 lists 9 people; 3 received compensation from the organization, the highest $155,000 (ROBERT MCLAUGHLIN, VICE PRESIDENT OF RESEARCH).
How much revenue does INSTITUTE FOR LIFE SCIENCE ENTREPRENEURSHIP INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $952,664, expenses of $923,330 and total assets of $1,656,608 at year end.

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