2024-11-15T13:02:27-06:00 2023-12-31 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2023-01-03 921555633 BLACKBIRD LABORATORIES INC BLAC 2029425355 101 WEST DICKMAN ST 100 BALTIMORE MD 21230 MATT TREMBLAY CEO 2029425355 2024-11-15 1 1 JULIA FLANNERY P00928918 4102469300 2024-11-15 2023 2024-10-15 13:58:12Z X X MATT TREMBLAY 101 WEST DICKMAN ST 100 BALTIMORE MD 21230 88179453 0 X WWW.BLACKBIRDLAB.ORG X 2023 DE 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. 3 2 12 2 0 0 88178653 0 0 800 88179453 0 0 2305663 0 0 2968971 5274634 82904819 83366299 461480 82904819 X 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. 0 0 4260244 BLACKBIRD LABORATORIES CATALYZES BALTIMORE'S LIFE SCIENCES RESEARCH BY SUPPORTING START-UP FORMATION AND DEVELOPMENT. OUR GOAL IS TO BRIDGE THE GAP BETWEEN PIONEERING ACADEMIC SCIENCE AND INDUSTRY BY PROVIDING CAPITAL, PROGRAM MANAGEMENT, AND STRATEGIC SCIENTIFIC AND BUSINESS INPUT. OUR TEAM OF LIFE SCIENCES PROFESSIONALS SUPPORT THE DEVELOPMENT OF INNOVATIVE BIOTECHNOLOGY COMPANIES BY DE-RISKING INNOVATIVE TECHNOLOGY FOR COMMERCIALIZATION, ATTRACTING INVESTMENT, AND NURTURING BALTIMORE'S POTENTIAL TO BE A LIFE SCIENCES LEADER ON THE NATIONAL STAGE.IN FISCAL YEAR 2023, BLACKBIRD LABORATORIES' NEWLY-FORMED TEAM EVALUATED NEARLY 150 POTENTIAL PROJECTS AND FUNDED SIX NEW RESEARCH COLLABORATIONS WORKING IN CONJUNCTION WITH LEADING INSTITUTIONS SUCH AS JOHNS HOPKINS UNIVERSITY, THE UNIVERSITY OF MARYLAND, AND THE LIEBER INSTITUTE FOR BRAIN DEVELOPMENT, TOTALING NEARLY $4,000,000 IN COMMITTED GRANT FUNDING. THE ULTIMATE GOAL OF THIS GRANT FUNDING IS TO COLLABORATIVELY DEVELOP PIONEERING THERAPEUTICS RESEARCH INTO SUCCESSFUL SPIN-OUT COMPANIES WHICH WORK TO CLOSE 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 START-UP COMPANIES THAT ARE LAUNCHED TO SHEPHERD THESE PRODUCTS TO MARKET. TO OVERCOME THESE BARRIERS, BLACKBIRD LABORATORIES ACTS AS A BRIDGE BETWEEN THESE START-UP COMPANIES AND VENTURE CAPITAL FIRMS TO HELP ENSURE THAT MEDICAL INNOVATIONS REACH PATIENTS AS QUICKLY AND EFFECTIVELY AS POSSIBLE. BLACKBIRD LABORATORIES ALSO PLANS TO PLAY A CENTRAL ROLE IN CASE-BUILDING AND CORPORATE DEVELOPMENT ACTIVITIES TO HELP IDENTIFY VENTURE FINANCING FOR START-UP COMPANIES BEING SPUN OUT FROM BLACKBIRD LABORATORIES AND PARTNER RESEARCH INSTITUTIONS. A KEY TENET OF BLACKBIRD LABORATORIES' MISSION TO CATALYZE A THRIVING ENTREPRENEURIAL ECOSYSTEM IN BALTIMORE IS THE RETENTION AND DEVELOPMENT OF LOCAL LIFE SCIENCES TALENT. THREE FIFTH-YEAR PHD STUDENTS COMPRISED BLACKBIRD LABORATORIES INAUGURAL FELLOW CLASS WHICH LAUNCHED IN 2023; A PAID PROGRAM WHICH FACILITATES DIRECT EXPOSURE TO ENTREPRENEURSHIP IN THE LIFE SCIENCES INDUSTRY. AS BLACKBIRD LABORATORIES ENTERS ITS SECOND YEAR IN OPERATION, WE INTEND TO CONTINUE 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.WE BELIEVE THAT BALTIMORE IS POISED TO BECOME A MAJOR INNOVATION HUB, AND ALONG WITH A FOCUS ON NURTURING LOCAL TALENT, BLACKBIRD LABORATORIES INTENDS TO CREATE ADDITIONAL WET LAB CAPACITY WITHIN BALTIMORE CITY TO EFFECTIVELY SUPPORT THE SUCCESS OF FLEDGLING BIOTECHNOLOGY COMPANIES AND THEIR RETENTION WITHIN THE MARYLAND ECOSYSTEM. EARLY PLANNING TOWARD SELECTING A PHYSICAL LOCATION HAS BEEN CONDUCTED AND SIGNIFICANT RESOURCES WILL BE DEDICATED TO SUPPORTING THE INCUBATION AND ACCELERATION OF LIFE SCIENCES COMPANIES IN BALTIMORE. 4260244 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 33 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 MD X EMILY WILKINSON 2029425355 101 WEST DICKMAN ST 100 BALTIMORE MD 21230 MATT TREMBLAY CEO & BOARD MEMBER, TREASURER 40.00 X X 618469 0 25634 RYLAND SUMNER BOARD CHAIR 1.00 X 0 0 0 MARK EDWARDS BOARD MEMBER 1.00 X 0 0 0 JESSICA NGUYEN CHIEF OF STAFF, SECRETARY 40.00 X 115417 0 7426 EDWARD CHEROK JR CHIEF BUSINESS OFFICER 40.00 X 373479 0 8549 ALEKSANDRA BARANCZAK CHIEF PROGRAM OFFICER 40.00 X 272273 0 9656 ANTHONY ACCORSI VENTURE PARTNER 40.00 X 227692 0 5843 MATTHEW LAWLER ENTREPRENEUR-IN-RESIDENCE 40.00 X 137265 0 3107 1744595 0 60215 6 0 1 0 ARNOLD AND PORTER KAYE SCHOLER LLP PO BOX 719451 PHILADELPHIA PA 19171 LEGAL 245046 BEACON HILL STAFFING GROUP LLC 152 BOWDOIN STREET BOSTON MA 02108 STAFFING 115522 2 88178653 88178653 OTHER INCOME 900099 800 800 800 88179453 0 0 800 766944 601706 165238 1390908 1103476 287432 26517 22372 4145 16886 8843 8043 104408 79138 25270 290758 194191 96567 126498 126498 28049 28049 158473 158420 53 33063 15640 17423 115983 41508 74475 58428 58428 73638 64689 8949 19043 19010 33 5906 5906 5035 5035 SCIENTIFIC PROGRAM 1951251 1951251 RECRUITMENT & ONBOARDIN 102846 102846 5274634 4260244 1014390 0 2421150 80094653 500000 60357 75286 5906 0 69380 0 220759 0 83366299 233931 0 227549 0 461480 X 2810166 80094653 0 82904819 0 83366299 82904819 0 X 0 1 X 1 0 X 88178653 88178653 88178653 88178653 86415064 1763589 800 800 88179453 X PART II, SHORT YEAR EXPLANATION: THE ORGANIZATION BEGAN OPERATIONS ON JANUARY 3, 2023. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12330 1409 10921 62956 4497 58459 69380 LEASE LIABILITIES 227549 227549 X 88179453 0 88179453 0 88179453 5274634 0 5274634 0 5274634 PART X, LINE 2: THE ORGANIZATION ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE ORGANIZATIONS TAX POSITIONS, AND HAS CONCLUDED THAT THE ORGANIZATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. X X X 0 0 0 0 0 0 0 1 0 MATT TREMBLAY CEO & BOARD MEMBER, TREASURER 582264 0 0 0 36205 0 6771 0 18863 0 644103 0 0 0 EDWARD CHEROK JR CHIEF BUSINESS OFFICER 242709 0 97500 0 33270 0 8260 0 289 0 382028 0 0 0 ALEKSANDRA BARANCZAK CHIEF PROGRAM OFFICER 197259 0 67500 0 7514 0 5719 0 3937 0 281929 0 0 0 ANTHONY ACCORSI VENTURE PARTNER 155974 0 71718 0 0 0 2333 0 3510 0 233535 0 0 0 PART I, LINE 7 DISCRETIONARY BONUSES WERE PAID IN 2023. MATT TREMBLAY CEO AND BOARD MEMBER PURCHASE OF A PRINCIPAL RESIDENCE X 500000 500000 0 1 1 500000 FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 WILL BE PROVIDED TO BLACKBIRD LEADERSHIP AS WELL AS THE BOARD OF DIRECTORS FOR COMMENT AND REVIEW PRIOR TO FILING. BLACKBIRD LEADERSHIP IS AN INTEGRAL PART OF PREPARING THE 990 FORM ALONGSIDE THE 990 PREPARERS. FORM 990, PART VI, SECTION B, LINE 12C THE INSTITUTE HAS A CONFLICT OF INTEREST POLICY THAT REQUIRES DIRECTORS, OFFICERS, KEY EMPLOYEES AND OTHER DESIGNATED INDIVIDUALS TO DISCLOSE IF THEY HAVE A PERSONAL INTEREST OR RELATIONSHIP IN A TRANSACTION INVOLVING THE INSTITUTE, WHETHER DIRECTLY OR INDIRECTLY THROUGH A FAMILY MEMBER, CONTROLLED ENTITY OR BUSINESS OR INVESTMENT RELATIONSHIP. ANY INDIVIDUAL WITH A PERSONAL INTEREST OR RELATIONSHIP IN A TRANSACTION INVOLVING THE INSTITUTE MUST BE RECUSED FROM THE DISCUSSIONS AND APPROVAL FOR THAT TRANSACTION. THE TRANSACTION MUST BE REVIEWED BY DISINTERESTED PERSONS WHO DO NOT HAVE A PERSONAL INTEREST IN THE TRANSACTION UNDER REVIEW, AND SUCH DISINTERESTED PERSONS MAY APPROVE THE TRANSACTION AFTER DETERMINING THAT THE TERMS ARE FAIR AND REASONABLE TO THE INSTITUTE. THE INSTITUTE MAY ALSO CONSIDER WHETHER THERE ARE ALTERNATIVE TRANSACTIONS OR ARRANGEMENTS THAT ARE REASONABLY AVAILABLE UNDER THE CIRCUMSTANCES THAT DO NOT PRESENT A POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 INDUSTRY DATA WAS UTILIZED TO DETERMINE COMPENSATION BENCHMARKS FOR THE CEO AND OTHER KEY EMPLOYEES. EXTERNAL CONSULTANTS, SUCH AS A FRACTIONAL CFO AND HUMAN RESOURCES PROFESSIONALS, WERE INCLUDED IN THE PROCESS TO DETERMINE APPROPRIATE AND REASONABLE COMPENSATION PACKAGES AND PRACTICES. THE CEO'S COMPENSATION WAS REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).