Form 990 for tax year 2022
Filed by NORTH CAROLINA BIOTECHNOLOGY CENTER.
Totals
- Total revenue
- $21,886,317
- Total expenses
- $18,520,073
- Contributions and grants received
- $17,737,762
- Grants paid
- $4,402,611
- Program service revenue
- $2,998,349
- Investment income
- $1,096,636
- Other revenue
- $53,570
- Total assets, end of year
- $44,128,955
- Total liabilities, end of year
- $1,032,245
- Net assets or fund balances, end of year
- $43,096,710
- Program services expenses (Part IX)
- $15,403,898
- Management and general expenses
- $3,116,175
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $15,403,898
Program services were 83.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$17,605,175
-
1f · All other contributions, gifts and grants
$132,587
-
2a · Program service revenue: CONFERENCE CENTER
total $918,358 · related or exempt $918,358
-
2b · Program service revenue: LIBRARY RESEARCH FEES
total $727,163 · related or exempt $727,163
-
2c · Program service revenue: INTEREST FROM PROGRAM LOAN
total $701,720 · related or exempt $701,720
-
2d · Program service revenue: DATABASE SEARCHES
total $141,524 · related or exempt $141,524
-
2e · Program service revenue: INTER-LIBRARY LOAN
total $24,774 · related or exempt $24,774
-
2f · All other program service revenue
total $484,810 · related or exempt $484,810
-
3 · Investment income
total $96,762 · excluded $96,762
-
6a · Gross rents
real property $53,570
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $53,570
-
6d · Net rental income or loss
total $53,570 · excluded $53,570
-
7a · Gross sales of assets other than inventory
securities $1,138,270
-
7b · Less cost or other basis and sales expenses
securities $138,396
-
7c · Gain or loss
securities $999,874
-
7d · Net gain or loss
total $999,874 · excluded $999,874
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $4,402,611 · program services $4,402,611
-
5 · Compensation of officers, directors and key employees
total $1,022,958 · program services $556,461 · management and general $466,497
-
7 · Other salaries and wages
total $6,182,675 · program services $5,504,666 · management and general $678,009
-
8 · Pension plan contributions
total $625,967 · program services $535,126 · management and general $90,841
-
9 · Other employee benefits
total $686,748 · program services $558,603 · management and general $128,145
-
10 · Payroll taxes
total $516,851 · program services $441,169 · management and general $75,682
-
11b · Fees: legal
total $57,746 · program services $20,061 · management and general $37,685
-
11c · Fees: accounting
total $79,850 · program services $27,740 · management and general $52,110
-
11d · Fees: lobbying
total $201,229 · program services $91,048 · management and general $110,181
-
11g · Fees: other
total $1,020,067 · program services $1,020,067
-
12 · Advertising and promotion
total $34,290 · program services $34,028 · management and general $262
-
13 · Office expenses
total $1,015,784 · program services $574,363 · management and general $441,421
-
14 · Information technology
total $102,322 · management and general $102,322
-
16 · Occupancy
total $60,829 · program services $60,829
-
17 · Travel
total $821,216 · program services $821,216
-
22 · Depreciation, depletion and amortization
total $657,038 · program services $228,252 · management and general $428,786
-
23 · Insurance
total $51,185 · program services $51,185
-
24a · Other expenses: FACILITIES AND MAINTENA
total $625,594 · program services $253,467 · management and general $372,127
-
24b · Other expenses: GRANTS AND SPONSORSHIPS
total $174,870 · program services $174,870
-
24c · Other expenses: CONTRIBUTIONS EXPENSE/G
total $123,726 · program services $48,136 · management and general $75,590
-
24d · Other expenses: G&A SPONSORSHIPS, AWARD
total $56,517 · management and general $56,517
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,381,292 · end of year $12,739,387
-
2 · Savings and temporary cash investments
beginning of year $8,209,161 · end of year $260,425
-
3 · Pledges and grants receivable
end of year $373,698
-
4 · Accounts receivable
beginning of year $368,081 · end of year $429,658
-
9 · Prepaid expenses and deferred charges
beginning of year $136,398 · end of year $218,746
-
10a · Land, buildings and equipment: cost or other basis
$22,630,478
-
10b · Land, buildings and equipment: accumulated depreciation
$14,971,485
-
10c · Land, buildings and equipment, net
beginning of year $7,398,865 · end of year $7,658,993
-
11 · Investments: publicly traded securities
beginning of year $6,689,588 · end of year $5,811,850
-
12 · Investments: other securities
beginning of year $6,126,101 · end of year $6,651,902
-
13 · Investments: program-related
beginning of year $9,282,697 · end of year $9,964,080
-
15 · Other assets
beginning of year $11,214 · end of year $20,216
-
17 · Accounts payable and accrued expenses
beginning of year $910,241 · end of year $1,032,245
-
27 · Net assets without donor restrictions
beginning of year $39,246,875 · end of year $42,736,710
-
28 · Net assets with donor restrictions
beginning of year $446,281 · end of year $360,000
Mission and programs · 2022
Mission
THE NORTH CAROLINA BIOTECHNOLOGY CENTER AIDS THE BIOTECHNOLOGY-RELATED EFFORTS OF RESEARCHERS, BUSINESSES, STATE AND FEDERAL GOVERNMENTS, AND OTHER AGENCIES PRIMARILY THROUGH AWARDS OF GRANTS AND LOANS RELATED TO SPECIFIC PROGRAMS AND OTHER SERVICES TO GROW [OR ADVANCE] THE INDUSTRY IN NORTH CAROLINA.
Activities or mission (Part I)
TO PROVIDE LONG-TERM ECONOMIC AND SOCIETAL BENEFITS TO NORTH CAROLINA THROUGH SUPPORT OF BIOTECHNOLOGY RESEARCH, BUSINESS, EDUCATION AND STRATEGIC POLICY STATEWIDE.
-
OUR COMMERCIALIZATION PROGRAM COMBINES THE SCIENCE AND TECHNOLOGY DEVELOPMENT AND THE EMERGING COMPANY DEVELOPMENT PROGRAMS INTO ONE. SCIENCE AND TECHNOLOGY DEVELOPMENT PROGRAM IS A FUNDAMENTAL PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER. THE GOAL OF THIS PROGRAM IS TO STRENGTHEN THE STATE'S INFRASTRUCTURE FOR LIFE SCIENCE RESEARCH WHICH IS AN ESSENTIAL PREREQUISITE FOR SCIENTIFIC ADVANCES LEADING TO NEW PRODUCTS AND APPLICATIONS. TO MEET THIS GOAL, THE PROGRAM PROVIDES SERVICES AND SUPPORT TO STATE UNIVERSITIES, COLLEGES, AND NONPROFIT INSTITUTIONS THAT CONTRIBUTE TO LIFE SCIENCE DEVELOPMENT THROUGH RESEARCH, TEACHING, AND PUBLIC SERVICE. SUPPORT IS PRIMARILY PROVIDED IN THE FORM OF GRANTS. SINCE 1984, THE PROGRAM HAS PROVIDED OVER $143 MILLION TO ENHANCE THE RESEARCH AND INTELLECTUAL CAPABILITIES OF THE STATE'S ACADEMIC AND NONPROFIT RESEARCH INSTITUTIONS. THE EMERGING COMPANIES DEVELOPMENT PROGRAM IS THE SECOND LARGEST PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER. THE GOAL OF THIS PROGRAM IS TO STRENGTHEN AND SUPPORT NORTH CAROLINA LIFE SCIENCE COMPANIES WITH FUNDING; TECHNOLOGY ASSESSMENT; STRATEGIC PARTNERSHIPS; BUSINESS PLAN ADVICE; NETWORKING AND CAREER TRANSITION SUPPORT; INFORMATION ON VENTURE CAPITAL AND AVAILABLE LABORATORY SPACE; AND PROFESSIONAL REFERRALS. THE LOAN PROGRAM IN PARTICULAR PROVIDES LOANS TO EARLY STAGE COMPANIES. THESE LOANS ARE DESIGNED TO SUPPORT LIFE SCIENCE COMPANY INCEPTION, RESEARCH, AND GROWTH.
Expenses $6,638,755 · Grants $4,106,812 · Revenue $701,720
-
THE ECONOMIC DEVELOPMENT PROGRAM NOW INCLUDES STATEWIDE DEVELOPMENT, AG SECTOR AND LIFE SCIENCE DEVELOPMENT PROGRAMS. THE AGRICULTURAL SECTOR DEVELOPMENT PROGRAM IS A PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER FOCUSED ON THE LARGEST INDUSTRY SECTOR IN THE STATE - AGRICULTURE. THE CORE FOCUS OF THE PROGRAM IS TO SUPPORT THE LARGEST GLOBAL ECONOMIC CLUSTER OF AGRICULTURE BIOTECHNOLOGY IN ITS CONTINUED GROWTH AND CONTRIBUTION. THE AGRICULTURE BIOTECHNOLOGY PROGRAM FOSTERS A DYNAMIC AGRICULTURE COMMUNITY, IMPROVES TECHNOLOGY AND VALUE, AND ATTRACTS AND SUSTAINS JOBS IN AGRICULTURE TO THE STATE. SINCE 2010, MANY COMPANIES SUPPORTING THOUSANDS OF JOBS HAVE BEEN IDENTIFIED AND ENGAGED BY THE PROGRAM.
Expenses $4,408,204 · Grants $98,766
-
THE SECTOR DEVELOPMENT PROGRAM INCLUDES THE EMERGING SECTOR DEVELOPMENT, CONFERENCE CENTER AT NC BIOTECH AND LIFE SCIENCE INTELLIGENCE PROGRAMS. THE CONFERENCE CENTER IS AN EVENT AND MEETING SPACE SOLUTION FOR NUMEROUS LIFE SCIENCE COMPANIES, ORGANIZATIONS AND EDUCATIONAL INSTITUTIONS. IT INCLUDES MEETING AND CATERING SERVICES AND CO-WORKING SPACES. IN ADDITION TO MARKET INTELLIGENCE, THE LSI TEAM IS RESPONSIBLE FOR NETWORK SECURITY AND IT SUPPORT, TECHNICAL SUPPORT FOR THE CENTER'S WEBSITE, CORPORATE RECORD RETENTION AND HISTORICAL ARCHIVES, MANAGEMENT OF THE CENTER'S CLIENT RELATIONSHIP MANAGEMENT SYSTEM, CENTER-WIDE IMPACT MEASUREMENTS, AND PROJECT MANAGEMENT.
Expenses $4,356,939 · Grants $197,033 · Revenue $2,296,628
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Santo CostaSANTO COSTA
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Meredith FrigaMEREDITH FRIGA
VICE CHAIR AND TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Peyton AndersonPEYTON ANDERSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Merrill MasonMERRILL MASON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Doug EdgetonDOUG EDGETON
ASSISTANT SECRETARY
- Total calculated
- $410,469
- From this org
- $327,787
- From related orgs
- $0
- Other
- $82,682
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $327,787
- Bonus
- $0
- Other
- $0
- Deferred
- $36,057
- Nontaxable benefits
- $46,625
- Filer's total
- $410,469
-
Rebecca AlexanderREBECCA ALEXANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John Anthony AtalaJOHN ANTHONY ATALA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John Atkins IIIJOHN ATKINS III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michelle BerreyMICHELLE BERREY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
George BriggsGEORGE BRIGGS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James DatinJAMES DATIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joy Parr DrachJOY PARR DRACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Neal FowlerNEAL FOWLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kelly FullerKELLY FULLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Penny Gordon-LarsenPENNY GORDON-LARSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frank GraingerFRANK GRAINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Willian Hawkins IIIWILLIAN HAWKINS III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Undi HofflerUNDI HOFFLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dan JaniesDAN JANIES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Moise KhayrallahMOISE KHAYRALLAH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mary KlotmanMARY KLOTMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karen LevertKAREN LEVERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jennifer LodgeJENNIFER LODGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve LommelSTEVE LOMMEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sheila MikhailSHEILA MIKHAIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Adam MonroeADAM MONROE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Hernan NavarroHERNAN NAVARRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Arthur PappasARTHUR PAPPAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sharon PaynterSHARON PAYNTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John RabbyJOHN RABBY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Machelle Baker SandersMACHELLE BAKER SANDERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jose SartarelliJOSE SARTARELLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas StithTHOMAS STITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael TannerMICHAEL TANNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ben TeagueBEN TEAGUE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve TroxlerSTEVE TROXLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bhaskar VenepalliBHASKAR VENEPALLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas WalkerTHOMAS WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brad WilsonBRAD WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Benjamin YerxaBENJAMIN YERXA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James BullockJAMES BULLOCK
VP FINANCE ,ASSISTANT TREASURER FOR BOD
- Total calculated
- $71,904
- From this org
- $64,293
- From related orgs
- $0
- Other
- $7,611
- Hours/week
- 40
-
Mark Stohlman Term 22023MARK STOHLMAN TERM 22023
VP FINANCE ,ASSISTANT TREASURER FOR BOD
- Total calculated
- $188,366
- From this org
- $141,125
- From related orgs
- $0
- Other
- $47,241
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,125
- Bonus
- $0
- Other
- $0
- Deferred
- $15,524
- Nontaxable benefits
- $31,717
- Filer's total
- $188,366
-
Mary Beth ThomasMARY BETH THOMAS
SR VP, SCIENCE AND BUSINESS DEVELOPMENT
- Total calculated
- $242,587
- From this org
- $188,971
- From related orgs
- $0
- Other
- $53,616
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $188,971
- Bonus
- $0
- Other
- $0
- Deferred
- $20,787
- Nontaxable benefits
- $32,829
- Filer's total
- $242,587
-
William BullockWILLIAM BULLOCK
SR VP, STATEWIDE OPERATIONS & ECONOMIC DEVELOPMENT
- Total calculated
- $245,504
- From this org
- $191,599
- From related orgs
- $0
- Other
- $53,905
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,599
- Bonus
- $0
- Other
- $0
- Deferred
- $21,076
- Nontaxable benefits
- $32,829
- Filer's total
- $245,504
-
Mary Hecht-KissellMARY HECHT-KISSELL
VP, CORP COMM
- Total calculated
- $177,518
- From this org
- $136,897
- From related orgs
- $0
- Other
- $40,621
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,897
- Bonus
- $0
- Other
- $0
- Deferred
- $15,059
- Nontaxable benefits
- $25,562
- Filer's total
- $177,518
-
Mark PhillipsMARK PHILLIPS
VP, STATEWIDE OPERATIONS
- Total calculated
- $200,232
- From this org
- $154,521
- From related orgs
- $0
- Other
- $45,711
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,521
- Bonus
- $0
- Other
- $0
- Deferred
- $16,997
- Nontaxable benefits
- $28,714
- Filer's total
- $200,232
-
Robert LindbergROBERT LINDBERG
VP, SCIENCE & TECHONOLGY DEVELOPMENT
- Total calculated
- $202,275
- From this org
- $156,319
- From related orgs
- $0
- Other
- $45,956
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,319
- Bonus
- $0
- Other
- $0
- Deferred
- $17,195
- Nontaxable benefits
- $28,761
- Filer's total
- $202,275
-
Susie CorbettSUSIE CORBETT
VP, IT LSI
- Total calculated
- $203,067
- From this org
- $157,936
- From related orgs
- $0
- Other
- $45,131
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,936
- Bonus
- $0
- Other
- $0
- Deferred
- $17,373
- Nontaxable benefits
- $27,758
- Filer's total
- $203,067
-
Vivian DoellingVIVIAN DOELLING
VP, ECD
- Total calculated
- $202,567
- From this org
- $156,581
- From related orgs
- $0
- Other
- $45,986
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,581
- Bonus
- $0
- Other
- $0
- Deferred
- $17,224
- Nontaxable benefits
- $28,762
- Filer's total
- $202,567
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
NORTH CAROLINA STATE UNIVERSITY
$543,359
RESEARCH
-
$424,925
RESEARCH
-
$285,403
RESEARCH
-
EAST CAROLINA UNIVERSITY
$196,317
RESEARCH
-
$167,683
RESEARCH
-
UNC-WILMINGTON
$157,239
RESEARCH
-
$92,700
RESEARCH
-
UNC GREENSBORO
$74,148
RESEARCH
-
NC CENTRAL UNIVERSITY
$50,000
RESEARCH
-
UNC-CHARLOTTE
$42,750
RESEARCH
The 10 largest by cash amount. The API serves every itemized grant.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
NC BIOSCIENCE VENTURES LLC (TERM 122022)
ECONOMIC DEVELOPMENT · NC · income $0 · assets $0
Directly controlled by NORTH CAROLINA BIOTECHNOLOGY CENTER
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 1 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411249349301101
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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