Nonprofit · EIN 36-4619281
UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION
Tax-exempt · ALBANY, NY 12222
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $5,479,603 | $8,196,926 | -$2,717,323 | $36,358,849 | $1,505,311 | $34,853,538 |
| June 30, 2024 | 990 | $6,612,898 | $7,862,193 | -$1,249,295 | $39,269,548 | $1,698,687 | $37,570,861 |
| June 30, 2023 | 990 | $6,725,412 | $8,113,665 | -$1,388,253 | $40,703,048 | $1,882,892 | $38,820,156 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $62,383
- of which government grants
- $62,383
- Program service revenue
- $5,215,303
- Investment income
- $201,917
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $11,880
- Accounting fees
- $13,540
- Depreciation
- $3,504,718
Balance sheet and other
- Total assets, start of year
- $39,269,548
- Total assets, end of year
- $36,358,849
- Total liabilities, end of year
- $1,505,311
- Net assets, end of year
- $34,853,538
- Land, buildings and equipment
- $30,238,882
- Net assets without donor restrictions
- $34,853,538
- Gross receipts
- $5,479,603
- Employees
- 0
- Volunteers
- 6
- Year formed
- 2007
- State of legal domicile
- NY
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD MCGINN JR | EXECUTIVE DIRECTOR Officer | 13.13 | $0 | $238,210 | $26,469 |
| FARDIN SANAI | SECRETARY Trustee or director, Officer | 1 | $0 | $18,965 | $0 |
| EDWARD SWYER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GEORGE HEARST | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JEFFREY BLACK | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TODD FOREMAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AMY KNAPP | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HAVIDAN RODRIGUEZ | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN STRAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD MCGINN JR | EXECUTIVE DIRECTOR Officer | 13.13 | $0 | $227,731 | $24,694 |
| FARDIN SANAI | SECRETARY Trustee or director, Officer | 1 | $0 | $18,120 | $0 |
| EDWARD SWYER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GEORGE HEARST | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JEFFREY BLACK | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TODD FOREMAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AMY KNAPP | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HAVIDAN RODRIGUEZ | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN STRAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RICHARD MCGINN JR | EXECUTIVE DIRECTOR Officer | 13.13 | $0 | $224,993 | $24,368 |
| FARDIN SANAI | SECRETARY Trustee or director, Officer | 1 | $0 | $14,846 | $0 |
| EDWARD SWYER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GEORGE HEARST | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JEFFREY BLACK | TREAURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| TODD FOREMAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AMY KNAPP | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HAVIDAN RODRIGUEZ | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN STRAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1400 WASHINGTON AVENUE UAB 226, ALBANY, NY 12222-0001
- In care of
- % THE RESEARCH FOUNDATION
- Principal officer (990 for 2024)
- RICHARD MCGINN JR, 1400 WASHINGTON AVENUE UAB 226, ALBANY, NY 12222
- Signed the 990
- RICHARD MCGINN JR, EXECUTIVE DIRECTOR
- Phone
- (518) 437-5090
- Website
- WWW.UABDC.ORG
- Return prepared by
- BONADIO & CO LLP
Mission
THE PURPOSE OF THE CORPORATION IS TO ACQUIRE REAL PROPERTY AND HOLD TITLE TO SUCH PROPERTY FOR THE PURPOSE OF CREATING A COMMERCIAL LIFE SCIENCE, RESEARCH, AND TECHNOLOGY CLUSTER IN AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP AND RESEARCH CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY. THE LAWFUL PUBLIC OR QUASI-PUBLIC OBJECTIVE WHICH EACH OF THE FOREGOING PURPOSES WILL ACHIEVE SHALL BE TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY BY ACQUIRING AND HOLDING TITLE TO FACILITIES IN WHICH SCIENCE RESEARCH AND SCHOLARLY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES.
Program accomplishments
- REAL ESTATE RENTAL INCOME - ACQUIRE, HOLD AND DEVELOP REAL PROPERTY IN WHICH SCIENCE RESEARCH AND SCHOLARY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE UNIVERSITY AT ALBANY AND SUNY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES.
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-4619281
- Tax-exempt status
- 501(c)(25): Title-holding corporation for multiple parents
- Donations deductible
- No
- Exempt since
- 2010
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S470)
- Assets (IRS master file)
- $36,358,849
- Income (IRS master file)
- $5,479,603
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $5,479,603 | $8,196,926 | $36,358,849 | IRS |
| 990 | June 2024 | $6,612,898 | $7,862,193 | $39,269,548 | IRS |
| 990 | June 2023 | $6,725,412 | $8,113,665 | $40,703,048 | XML |
| 990 | June 2022 | $6,929,199 | $7,892,296 | $42,695,230 | IRS |
| 990 | June 2021 | – | – | – | 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 36-4619281).
Questions about UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION
- What is the EIN of UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION is 36-4619281.
- Is UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(25) since 2010.
- Are donations to UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION 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 UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names RICHARD MCGINN JR.
- Who are the officers and directors of UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 9 people; 0 received compensation from the organization.
- How much revenue does UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $5,479,603, expenses of $8,196,926 and total assets of $36,358,849 at year end.
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All nonprofits in ALBANY · New York · Community improvement and capacity building