BLACKBIRD LABORATORIES INC

EIN: 921555633 501(c)(3) Medical Research

BALTIMORE, MD

Total Revenue
$4,297,621
Total Expenses
$8,249,636
Total Assets
$85,463,986
Net Assets
$78,952,804
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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
DE
Principal Officer
MATT TREMBLAY
Phone
2029425355
Tax Period
2024-01-01 to 2024-12-31

BLACKBIRD LABORATORIES INC, founded in 2023, is a community nonprofit in the Medical Research sector that reported $4.3M in total revenue in fiscal year 2024. Revenue fell 95% from the prior year — a significant decline worth monitoring. Expenses of $8.2M exceeded revenue, resulting in a 92% operating deficit.

Mission

BLACKBIRD LABORATORIES IS AN INDEPENDENT NONPROFIT MEDICAL RESEARCH ORGANIZATION BASED IN BALTIMORE THAT IS FOCUSED ON CONDUCTING MEDICAL AND SCIENTIFIC RESEARCH IN CONJUNCTION WITH NONPROFIT HOSPITALS AND ACADEMIC INSTITUTIONS, SPECIFICALLY TO HELP MARYLAND'S UNIVERSITIES AND INVESTIGATORS AMPLIFY THE IMPACT OF THEIR ACADEMIC RESEARCH, BUILD INNOVATIVE COMPANIES, BRING TRANSFORMATIVE TECHNOLOGIES TO LIFE, AND CREATE A THRIVING ENTREPRENEURIAL ECOSYSTEM IN MARYLAND.

Program Service Accomplishments

Program 1
Expenses: $7,199,305 Revenue: $22,571

BLACKBIRD LABORATORIES IS AN INDEPENDENT NONPROFIT MEDICAL RESEARCH ORGANIZATION BASED IN BALTIMORE, MARYLAND, WHICH CONDUCTS LIFE SCIENCES RESEARCH IN THE PURSUIT OF NEW TREATMENTS FOR DISEASES IN...

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BLACKBIRD LABORATORIES IS AN INDEPENDENT NONPROFIT MEDICAL RESEARCH ORGANIZATION BASED IN BALTIMORE, MARYLAND, WHICH CONDUCTS LIFE SCIENCES RESEARCH IN THE PURSUIT OF NEW TREATMENTS FOR DISEASES IN COLLABORATION WITH NONPROFIT HOSPITALS, ACADEMIC INSTITUTIONS, AND OTHER MEDICAL RESEARCH ORGANIZATIONS. SPECIFICALLY, WE AIM TO HELP MARYLAND'S UNIVERSITIES AND INVESTIGATORS AMPLIFY THE IMPACT OF THEIR ACADEMIC RESEARCH BY BRINGING TRANSFORMATIVE TECHNOLOGIES TO LIFE AND SUPPORTING START-UP FORMATION AND DEVELOPMENT. OUR GOAL IS TO BRIDGE THE GAP BETWEEN PIONEERING SCIENTIFIC RESEARCH AND INDUSTRY BY PROVIDING PROGRAM MANAGEMENT, STRATEGIC SCIENTIFIC AND BUSINESS COLLABORATION, AND FINANCIAL SUPPORT. OUR TEAM OF LIFE SCIENCES PROFESSIONALS FACILITATES THE DEVELOPMENT OF INNOVATIVE BIOTECHNOLOGY COMPANIES BY ADVANCING PROMISING TRANSLATIONAL TECHNOLOGY INTO NEW MEDICINES AND MEDICAL TREATMENTS FOR PATIENTS, ATTRACTING INVESTMENT, AND NURTURING BALTIMORE'S POTENTIAL TO BE A LIFE SCIENCES LEADER ON THE NATIONAL STAGE.IN FISCAL YEAR 2024, THE BLACKBIRD LABORATORIES TEAM EVALUATED OVER 200 POTENTIAL PROJECTS AND ESTABLISHED 4 NEW RESEARCH PROGRAMS FOR A TOTAL OF 9 COLLABORATIVE PROJECTS WITH NONPROFIT HOSPITAL AND ACADEMIC INSTITUTIONS (JOHNS HOPKINS UNIVERSITY AND THE UNIVERSITY OF MARYLAND) AND OTHER MEDICAL RESEARCH ORGANIZATIONS (THE LIEBER INSTITUTE FOR BRAIN DEVELOPMENT). THE ULTIMATE GOAL OF THESE COLLABORATIONS IS TO DEVELOP PIONEERING THERAPEUTICS RESEARCH INTO SUCCESSFUL SPINOUT COMPANIES WORKING TO ADDRESS GAPS IN AVAILABLE TREATMENT OPTIONS FOR PATIENTS. MANY BREAKTHROUGH MEDICINES AND TECHNOLOGIES THAT SERVE THE PUBLIC INTEREST FAIL TO PROGRESS TO MARKET BECAUSE OF A LACK OF FUNDING OR A LACK OF TECHNICAL EXPERTISE TO MANAGE THE STARTUPS LAUNCHED TO SHEPHERD THESE PRODUCTS TO MARKET. TO OVERCOME THESE BARRIERS, BLACKBIRD LABORATORIES ADVISES THESE STARTUP COMPANIES AND CONNECTS THEM WITH VENTURE CAPITAL FIRMS, ULTIMATELY ENSURING THAT MEDICAL INNOVATIONS REACH PATIENTS AS QUICKLY AND EFFECTIVELY AS POSSIBLE. ANOTHER KEY TENET OF BLACKBIRD LABORATORIES' MISSION TO CATALYZE AND MAINTAIN A THRIVING ENTREPRENEURIAL ECOSYSTEM IN BALTIMORE IS THE RETENTION AND ADVANCEMENT OF LOCAL LIFE SCIENCES TALENT. TWO FIFTH-YEAR PHD STUDENTS AND ONE RECENT PHD GRADUATE COMPRISED BLACKBIRD LABORATORIES SECOND VENTURE FELLOWS CLASS - A PAID FELLOWSHIP PROGRAM LAUNCHED IN 2023 TO ENABLE DIRECT EXPOSURE TO ENTREPRENEURSHIP IN THE LIFE SCIENCES INDUSTRY. FURTHER, BLACKBIRD LABORATORIES CONTINUES FOSTERING MENTORSHIP AND TRAINING OPPORTUNITIES BY ORGANIZING AND HOSTING VARIOUS SCIENTIFIC TALKS, PRESENTATIONS, AND OTHER PROGRAMS THAT ARE OPEN TO LOCAL SCIENTISTS AND STUDENTS, AS WELL AS AMPLIFYING THE ECOSYSTEM DEVELOPMENT WORK ALREADY BEING CONDUCTED LOCALLY THROUGH SPONSORSHIP AND COLLABORATION.IN ADDITION TO NURTURING LOCAL TALENT, BLACKBIRD LABORATORIES IS CURRENTLY ESTABLISHING 42,000 SQ FT OF ADDITIONAL WET LAB CAPACITY (BLACKBIRD BIOHUB) WITHIN BALTIMORE CITY. BLACKBIRD BIOHUB WILL NOT ONLY SUPPORT BLACKBIRD LABORATORIES' OWN MEDICAL AND SCIENTIFIC RESEARCH BUT ALSO FOSTER THE SUCCESS OF FLEDGLING BIOTECHNOLOGY COMPANIES BY FACILITATING THEIR RETENTION, IN TURN HELPING TO CREATE A THRIVING ENTREPRENEURIAL ECOSYSTEM FOR LIFE SCIENCES COMPANIES IN BALTIMORE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,203,859
Program Service Revenue $22,571
Investment Income $71,191
Other Revenue $0
TOTAL REVENUE $4,297,621

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,578,205
Fundraising Expenses $0
Program Expenses $7,199,305
Other Expenses $4,671,431
TOTAL EXPENSES $8,249,636

Year-over-Year Comparison

2024 2023 Change
Revenue $4,297,621 $88,179,453 -1.0%
Expenses $8,249,636 $5,274,634 +0.6%
Net Income $-3,952,015 $82,904,819 -1.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
2
Employees
15
Volunteers
2

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
2
$905,004
Total Directors
3
$707,880
Key Employees
2
$876,865
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT TREMBLAY CEO & BOARD MEMBER, TREASURER 32.00
Officer Director
$656,996 $50,884 $707,880
RYLAND SUMNER BOARD CHAIR 1.00
Director
$0 $0 $0
MARK EDWARDS BOARD MEMBER 1.00
Director
$0 $0 $0
EMILY WILKINSON DIR, FIN & OPS, CORP SEC/TREAS 40.00
Officer
$165,810 $31,314 $197,124
ALEKSANDRA BARANCZAK CHIEF PROGRAM OFFICER 38.00
Key Emp
$422,666 $25,489 $448,155
EDWARD CHEROK CHIEF BUSINESS OFFICER 36.00
Key Emp
$411,267 $17,443 $428,710
ANTHONY ACCORSI VENTURE PARTNER 40.00
Highest
$467,278 $23,284 $490,562
MATTHEW LAWLER ENTREPRENEUR-IN-RESIDENCE 40.00
Highest
$230,152 $11,575 $241,727
YIXUAN QIU ASSOCIATE DIRECTOR, RESEARCH PROGRAMS 40.00
Highest
$153,932 $15,303 $169,235
VIRGINA BURGER ENTREPRENEUR-IN-RESIDENCE 40.00
Highest
$235,649 $11,827 $247,476
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
2024 $4,297,621 $8,249,636 $85,463,986 $-3,952,015
2023 $88,179,453 $5,274,634 $83,366,299 $82,904,819
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