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UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION

ALBANY, NY · EIN 364619281 · Form 990 · FY2024 · NTEE S470 · Community Improvement · Medium ($1M-$10M) · uabdc.org
revenue
$5.5M
expenses
$8.2M
net assets
$34.9M
employees
0
volunteers
6
profile · synthesized from sources

University at Albany Bioscience Development Corporation operates a biotech research and development campus in Rensselaer, NY, providing laboratory and office space for university researchers, biotechnology firms, and startup companies. The organization supports scientific innovation by managing state-of-the-art facilities dedicated to cancer research, public health, and biopharmaceutical development. It functions as a hub for academic and commercial bioscience collaboration in the Capital Region.

named programs · 5 · from sources

What they call their work

Bruno Biotechnology Development Center
24,000 sq ft single-tenant facility housing a contract research, development, and manufacturing organization serving the pharmaceutical industry
Cancer Research Center (CRC)
108,000 sq ft state-of-the-art facility housing University at Albany researchers focused on genetic origins of cancer and development of diagnostics and treatments
George Education Center (GEC)
145,000 sq ft building housing the University at Albany’s School of Public Health, featuring classrooms, offices, and a 200-seat auditorium
Isolator Solution Building (ISB)
30,000 sq ft purpose-built facility providing contract modeling services with rapid access to critical lab models for researchers worldwide
Main Laboratory Building (MLB)
235,000 sq ft multi-use laboratory complex offering adaptive research space for growing biotech tenants across four floors
activities · 2 groups

What they do

  • Research Facility Management 3 activities
    • Operates specialized research and laboratory facilities
      Manages multiple research facilities including the 108,000 sq ft Cancer Research Center, the 235,000 sq ft Main Laboratory Building, and the 24,000 sq ft Bruno Biotechnology Development Center, providing laboratory, office, and research support spaces for academic and industry tenants.
    • Owns and operates biotech research campus
      Owns and operates an 80-acre biotech cluster in Rensselaer, NY, hosting the University at Albany's Health Sciences Campus and serving as a hub for bioscience and high technology organizations.
    • Provides contract research and modeling services
      Operates the Isolator Solution Building, a 30,000 sq ft facility offering contract modeling services to support research initiatives for global pharmaceutical and academic clients.
  • Campus Facility Operations and Management 1 activity
    • Operates academic and education facilities
      Operates the George Education Center, a 145,000 sq ft building providing classroom, lecture, office, and meeting spaces for the School of Public Health.
financials · form 990 · fy2024
revenue
Total revenue$5.48M
Contributions & grants$62K1%
Program service revenue$5.22M95%
Investment income$202K4%
Other revenue$0
expenses
Total expenses$8.20M
Program expenses
Admin / overhead
Fundraising
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$36.36M
Cash$5.81M
Investments$0
Liabilities$1.51M
Net assets$34.85M
Liquid reserves8.5 mo
5 years on record · 2020–2024 · YoY revenue -17.1%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 2
NameTitleHours/wkCompensation
RICHARD MCGINN JR EXECUTIVE DIRECTOR 13 $265K
FARDIN SANAI SECRETARY 1 $19K
board members · 7
  • AMY KNAPP — DIRECTOR
  • BRIAN STRAUGHTER — DIRECTOR
  • EDWARD SWYER — PRESIDENT
  • GEORGE HEARST — VICE PRESIDENT
  • HAVIDAN RODRIGUEZ — DIRECTOR
  • JEFFREY BLACK — TREASURER
  • TODD FOREMAN — DIRECTOR
relationships · 1

Who they work with

  • University at Albany Partner — Hosts the University at Albany’s Health Sciences Campus and School of Public Health within UABDC facilities.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Scalable Infrastructure with Support Services
    methodology: scalable_infrastructure_with_support_services
    By providing scalable leased laboratory and office space with high-priority customer service, we enable university, biotechnology, and startup tenants to focus on innovation and growth, because removing infrastructure barriers accelerates research and commercialization.