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Life Science Cares, Inc.

 PO Box 425486
 Cambridge, MA 02142
[P] (617) 6375052
[F] --
www.lifesciencecares.org
[email protected]
Sarah MacDonald
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INCORPORATED: 2016
 Printable Profile (Summary / Full)
EIN 81-2435939

LAST UPDATED: 11/27/2017
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

Life Science Cares SM organization is a collective effort of the Life Science industry to eliminate the impact of poverty on our neighbors in the greater Boston area. Through uniting the human and financial resources of Life Science companies and industry leaders, we support service organizations that do the best work in fighting poverty in our community.

We improve lives of our neighbors impacted by poverty by providing human and financial resources to the most efficient and effective service organizations in Greater Boston that work in three areas. Survival, Education and Sustainability.


Mission Statement

Life Science Cares SM organization is a collective effort of the Life Science industry to eliminate the impact of poverty on our neighbors in the greater Boston area. Through uniting the human and financial resources of Life Science companies and industry leaders, we support service organizations that do the best work in fighting poverty in our community.

We improve lives of our neighbors impacted by poverty by providing human and financial resources to the most efficient and effective service organizations in Greater Boston that work in three areas. Survival, Education and Sustainability.



FinancialsMORE »

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $1,000,000.00
Projected Expense $600,000.00

ProgramsMORE »

  • Summer of Service

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown (%)

No data available

Expense Breakdown (%)

No data available

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Life Science Cares SM organization is a collective effort of the Life Science industry to eliminate the impact of poverty on our neighbors in the greater Boston area. Through uniting the human and financial resources of Life Science companies and industry leaders, we support service organizations that do the best work in fighting poverty in our community.

We improve lives of our neighbors impacted by poverty by providing human and financial resources to the most efficient and effective service organizations in Greater Boston that work in three areas. Survival, Education and Sustainability.



Background Statement

We improve lives of our neighbors impacted by poverty by providing human and financial resources to the most efficient and effective service organizations in Greater Boston that work in three areas. Survival, Education and Sustainability.

Survival: Includes organizations doing work in hunger, homelessness, domestic abuse, crime prevention, etc. We believe every person has the right to these basic human needs, and a portion of our effort goes to helping these organizations to assist as many people as possible.

Education: Includes STEM education, college preparation and college success, educational enrichment and inspiration, etc. We believe education is the most effective solution to impacting poverty in the long term, so the largest percentage of our support goes to those service providers who work in this area.

Sustainability: Includes organizations that work in job creation, job training, mentoring, and economic development. We believe that providing support to the best organizations that work to help families and individuals to lift themselves sustainably out of poverty is also an important need for the community.


Impact Statement

Life Science Cares has harnessed the financial and human resources of the life sciences industry in service of our inaugural nonprofit partners in 2017. Working with support from 100+ biopharma & medical device companies, we have granted $80,000 across 8 organizations and followed the financial support with volunteers, strategic and in-kind support and donations of goods.
In the current year, we continue to build our base of support within the industry, and will bring on additional nonprofit partners with another, larger grant-making round.

Needs Statement

Life Science Cares needs broad and deep connections within the life sciences industry. We aim to build a service corps of industry employees and are seeking venues to build awareness of our mission and expand our reach.
We are also seeking nonprofit partners who can think creatively about putting the resources of our industry to work in fighting poverty. 

CEO Statement

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Board Chair Statement

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Geographic Area Served

GREATER BOSTON REGION, MA
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Organization Categories

  1. Philanthropy,Voluntarism & Grantmaking Foundations - Philanthropy/Charity/ Voluntarism Promotion (General)
  2. Education - Educational Services
  3. Human Services - Human Services

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Summer of Service

Volunteer service campaign 
Budget  --
Category  Education, General/Other
Population Served Children and Youth (0 - 19 years) College Aged (18-26 years) Unemployed, Underemployed, Dislocated
Program Short-Term Success  The Summer of Service program drew in 43 individuals representing 15 companies that generously donated 1000 hours of community service through various organizations such as Food for Free, College Bound Dorchester, Possible Project, Year Up, Citizens Schools.  
Program Long-Term Success  The goal of this program is to plug Life Science industry professionals into regularly occurring volunteer opportunities in our community.  
Program Success Monitored By  --
Examples of Program Success 

Testimonial from Industry CEO "I have been doing this ‘public-private partnership thing’ in various capacities for almost my entire career in private industry, running a nonprofit, on behalf of state government, academic and hospital institutions, and in philanthropy. Believe me when I say, what Life Science Cares has accomplished in such a short period of time in galvanizing the civic participation of the ecosystem is nothing short of extraordinary. Your leadership in particular has been significantly accelerative; my hat is off to you. All of us here at the MLSC look forward to working with you and Life Science Cares to deepen the engagement of the industry in the lives of Massachusetts residents and their communities. This is important work, and we are proud to be a part.


 


CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Mr. Rob Perez
CEO Term Start Apr 2016
CEO Email [email protected]
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 1
Number of Part Time Staff 0
Number of Volunteers 0
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 1
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 1
Male: 0
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers --
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Under Development
Nondiscrimination Policy Under Development
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit --
State Registration Yes

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency N/A N/A
Non Management Formal Evaluation and Frequency N/A N/A

Governance


Board Chair Mr. Robert Perez
Board Chair Company Affiliation Vineyard Sound Advisors LLC
Board Chair Term Apr 2016 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Glen Giovannetti Ernst & Young Voting
Timothy Hunt Editas Voting
David Melville Bowdoin Group Voting
Peter Pedro Marsh & McLennan Agency LLC Voting
Robert Perez Vineyard Sound Advisors LLC Voting
Rene Russo Arsanis Voting
Michael Tomsicek Independant Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 5
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 2
Other (if specified): Multiracial
Gender Female: 1
Male: 6
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits --
Board Meeting Attendance % 100%
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation No

Standing Committees

  • Audit, Compliance and Controls
  • Board Governance
  • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts

CEO/Executive Director/Board Comments

Life Science Cares has a robust advisory board of over 100 community members.  This board has no fiduciary responsibility.  

Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown (%)

No data available

Expense Breakdown (%)

No data available

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $1,000,000.00
Projected Expense $600,000.00
Form 990s

2016 990 (short year, covers April 27, 2016 - December 31, 2016)

Audit Documents --
IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 -- --
Total Revenue $597,029 -- --
Total Expenses $42,806 -- --

Prior Three Years Revenue Sources

Fiscal Year 2016 -- --
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 -- --
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $597,029 -- --
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses -- -- --
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind -- -- --
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2016 -- --
Program Expense $36,400 -- --
Administration Expense $6,406 -- --
Fundraising Expense -- -- --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 13.95 -- --
Program Expense/Total Expenses 85% -- --
Fundraising Expense/Contributed Revenue 0% -- --

Prior Three Years Assets and Liabilities

Fiscal Year 2016 -- --
Total Assets $555,122 -- --
Current Assets $555,122 -- --
Long-Term Liabilities $0 -- --
Current Liabilities $899 -- --
Total Net Assets $554,223 -- --

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 -- --
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2016 -- --
Current Ratio: Current Assets/Current Liabilities 617.49 -- --

Long Term Solvency

Fiscal Year 2016 -- --
Long-term Liabilities/Total Assets 0% -- --

CEO/Executive Director/Board Comments

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Foundation Comments

This organization is newer, as such, data per the above short year IRS Form 990 file, covering April 27, 2016 - December 31, 2016 is included in the charts and graphs above. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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