BIOADVANCE CAPITAL

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

SHAHRAM HEJAZI

Phone

6102300536

Tax Period

2024-07-01 to 2025-06-30

BIOADVANCE CAPITAL, founded in 2002, is a community nonprofit in the Youth Development sector that reported $7.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $5.1M, a strong 65% operating margin.

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 Service Accomplishments

Program 1

Expenses: $1,635,465 Revenue: $4,504,711

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...

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,609,000

Program Service Revenue $3,941,757

Investment Income $1,973,518

Other Revenue $260,830

TOTAL REVENUE $7,785,105

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,053,415

Fundraising Expenses $0

Program Expenses $1,635,465

Other Expenses $632,783

TOTAL EXPENSES $2,686,198

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,785,105	$7,128,753	+0.1%
Expenses	$2,686,198	$2,624,935	+0.0%
Net Income	$5,098,907	$4,503,818	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,037,037

Total Directors

$453,612

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAHRAM HEJAZI	CEO & MANAGING DIRECTOR	32.00	Officer Director	$392,987	$60,625	$453,612
JEN GILBURG	DIRECTOR	0.50	Director	$0	$0	$0
PHILIP GERBINO PHARMD	DIRECTOR	0.50	Director	$0	$0	$0
ROY M ROSIN	DIRECTOR	0.50	Director	$0	$0	$0
LAUREN LENFEST	DIRECTOR	0.50	Director	$0	$0	$0
STEVEN NICHTBERGER MD	DIRECTOR	0.50	Director	$0	$0	$0
BARBARA S SCHILBERG	DIRECTOR	0.50	Director	$0	$0	$0
DR JOHN EPSTEIN	DIRECTOR (EFF 6/13/25)	0.50	Director	$0	$0	$0
DR MARIE LINDNER	DIRECTOR (EFF 6/13/25)	0.50	Director	$0	$0	$0
GREG HARRIMAN	VP AND ASST SECRETARY	24.00	Officer	$240,026	$10,890	$250,916
DAVID SHIN	COO AND SECRETARY	40.00	Officer	$332,509	$0	$332,509
FREDERICK JONES	ADVISORY PARTNER	24.00	Highest	$169,199	$14,030	$183,229
ROBERT DRISCOLL	DIRECTOR OF FINANCE	40.00	Highest	$250,203	$49,744	$299,947
MARNIE MCCOY	PROGRAM DIRECTOR	40.00	Highest	$157,234	$18,773	$176,007

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$7,785,105	$2,686,198	$86,406,908	$5,098,907
2024	$7,128,753	$2,624,935	$81,128,530	$4,503,818
2023	$1,586,292	$2,508,519	$81,948,557	$-922,227
2022	$2,523,586	$2,278,521	$73,104,917	$245,065
2021	$2,931,752	$2,412,456	$80,190,811	$519,296
2020	$12,959,074	$2,328,525	$78,551,910	$10,630,549
2020	$12,959,074	$2,328,525	$78,551,910	$10,630,549
2019	$2,558,906	$2,427,191	$66,045,472	$131,715
2019	$2,558,906	$2,427,191	$66,045,472	$131,715
2018	$2,635,201	$2,254,734	$60,326,743	$380,467