Edison Biotechnology Center Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE MISSION OF OHIO LIFE SCIENCES FOUNDATION IS TO ACCELERATE BIOSCIENCE DISCOVERY, INNOVATION AND COMMERCIALIZATION OF GLOBAL VALUE, DRIVING ECONOMIC GROWTH, COMPANY ATTRACTION, IMPROVING WORKFORCE TRAINING AND IMPROVED QUALITY OF LIFE IN OHIO
- Income
- $2.5 million
- Spending
- $2.1 million
- Spent on programs
- 92%
- Reserves
- 2.9 months of spending
- Largest source of income
- government grants, 100%
- Employees
- 0
- Volunteers
- 8
- Highest pay
- $458,729, president & ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 65 out of 100. Higher than 38% of charities in its peer group (health care, $1m to $10m).
Reserves
10 of 35Spendable reserves would cover 2.9 months of spending.
Debt
10 of 20It owes 48% of what it owns.
Living within its means
15 of 15Income exceeded spending by 18% of income.
Income trend
15 of 15Income rose 452% on the year before.
Spending floor
15 of 1592% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 94 out of 100. Higher than 56% of charities in its peer group (health care, $1m to $10m).
Independent board
25 of 257 of 8 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
9 of 15Its accounts were reviewed or compiled by an independent accountant, but not audited.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $1.9 million spent. MEMBERSHIP FOR BIOSCIENCE COMMUNITY AND EDUCATION/DEVELOPMENTOHIO LIFE SCIENCES FOUNDATION REPRESENTS MEMBERSHIP THROUGH VARIOUS BIOSCIENCE COMMUNITY EVENTS, AND EDUCATION AND TRAINING EVENTS. THEY INCLUDE: AN ANNUAL CONFERENCE, WHICH BRINGS TOGETHER BIOMEDICAL COMPANY REPRESENTATIVES, ENTREPRENEURS, INVESTORS, SUPPLIERS, SERVICE PROVIDERS AND LOCAL AND STATE GOVERNMENT OFFICIALS FOR EDUCATION AND NETWORKING TO ENHANCE ECONOMIC DEVELOPMENT OPPORTUNITIES; ANNUAL PRESENCE AT INDUSTRY MEETINGS SUCH AS THE BIO CONVENTION (BIOTECH, PHARMA, DIAGNOSTICS, MEDICAL DEVICES AND AG-BIO), THE ADVAMED CONVENTION AND ANNUAL CONFERENCE (MEDICAL DEVICE AND DIAGNOSTICS) WHERE THE LATEST INDUSTRY TOPICS ARE DISCUSSED AND MEETINGS OCCUR WITH INDUSTRY FOR POSSIBLE ECONOMIC DEVELOPMENT OPPORTUNITIES FOR OHIO; REGULATORY FORUM ON CURRENT FDA ISSUES THAT ARE APPROPRIATE FOR THE BIOSCIENCE INDUSTRY; STATEWIDE SUPPLIER EXPO, A CEO UNPLUGGED SERIES; REGIONAL CAREER FAIRS TO MATCH TALENT WITH GROWING OHIO BIOSCIENCE COMPANIES; SPRING/SUMMER NETWORKING SOCIALS IN CLEVELAND, COLUMBUS AND CINCINNATI; AND SEVERAL EDUCATIONAL WEBINARS. THROUGH ITS STATEWIDE MEMBERSHIP, RELATIONS WITH THE EDUCATIONAL AND RESEARCH COMMUNITY, THE STATE OF OHIO GOVERNMENT AND ITS PROFESSIONAL NETWORK, OHIO LIFE SCIENCES FOUNDATION ENCOURAGES AND FOSTERS PARTNERSHIPS BETWEEN COMPANIES, RESEARCH INSTITUTIONS, PROFESSIONAL SERVICE PROVIDERS AND OTHER INTERMEDIARIES TO HELP IMPROVE THE ECONOMIC CLIMATE IN THE STATE OF OHIO AND TO IMPROVE THE PUBLIC HEALTH.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 1992.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.