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Nonprofiteer
← BIOSCIENCE & TECHNOLOGY BUSINESS CENTER INC

Form 990 for tax year 2023

Filed by BIOSCIENCE & TECHNOLOGY BUSINESS CENTER INC.

Totals

Total revenue
$6,583,194
Total expenses
$4,957,306
Contributions and grants received
$3,841,220
Grants paid
$0
Program service revenue
$2,646,787
Investment income
$100,780
Other revenue
-$5,593
Total assets, end of year
$45,142,722
Total liabilities, end of year
$24,664,135
Net assets or fund balances, end of year
$20,478,587
Program services expenses (Part IX)
$4,652,740
Management and general expenses
$304,566
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 93.9% 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)

    $286,239

  • 1f · All other contributions, gifts and grants

    $3,554,981

  • 2a · Program service revenue: RENTAL INCOME

    total $2,344,004 · related or exempt $2,344,004

  • 2b · Program service revenue: ADVISORY SERVICE

    total $180,154 · related or exempt $180,154

  • 2c · Program service revenue: MANAGEMENT FEE INCOME

    total $76,500 · related or exempt $76,500

  • 2d · Program service revenue: INTERNET AND PHONE INCOME

    total $37,329 · related or exempt $37,329

  • 2e · Program service revenue: CONTRACTUAL SERVICE

    total $8,800 · related or exempt $8,800

  • 3 · Investment income

    total $100,780 · excluded $100,780

  • 11a · Other revenue: REIMBURSED EXPENSES

    total -$5,593 · related or exempt -$5,593

  • 11e · Other revenue, total

    -$5,593

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $377,534 · program services $362,432 · management and general $15,102

  • 7 · Other salaries and wages

    total $473,882 · program services $367,353 · management and general $106,529

  • 8 · Pension plan contributions

    total $43,867 · program services $37,600 · management and general $6,267

  • 10 · Payroll taxes

    total $53,415 · program services $45,784 · management and general $7,631

  • 11a · Fees: management

    total $44,368 · program services $13,925 · management and general $30,443

  • 11b · Fees: legal

    total -$71 · management and general -$71

  • 11c · Fees: accounting

    total $44,081 · management and general $44,081

  • 11g · Fees: other

    total $16,638 · management and general $16,638

  • 12 · Advertising and promotion

    total $62,678 · management and general $62,678

  • 14 · Information technology

    total $55,442 · program services $44,699 · management and general $10,743

  • 16 · Occupancy

    total $1,476,143 · program services $1,473,973 · management and general $2,170

  • 17 · Travel

    total -$15,920 · management and general -$15,920

  • 20 · Interest

    total $1,040,193 · program services $1,040,193

  • 22 · Depreciation, depletion and amortization

    total $1,118,930 · program services $1,118,930

  • 23 · Insurance

    total $146,617 · program services $137,011 · management and general $9,606

  • 24a · Other expenses: MEALS AND ENTERTAINMENT

    total $8,669 · management and general $8,669

  • 24e · All other expenses

    total $10,840 · program services $10,840

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $343,608 · end of year $163,690

  • 2 · Savings and temporary cash investments

    beginning of year $5,095,376 · end of year $3,741,819

  • 4 · Accounts receivable

    beginning of year $538,225 · end of year $612,740

  • 5 · Loans and receivables from officers and key people

    beginning of year $294,439 · end of year $325,412

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,702 · end of year $22,019

  • 10a · Land, buildings and equipment: cost or other basis

    $46,379,590

  • 10b · Land, buildings and equipment: accumulated depreciation

    $6,327,627

  • 10c · Land, buildings and equipment, net

    beginning of year $37,855,935 · end of year $40,051,963

  • 15 · Other assets

    beginning of year $311,897 · end of year $225,079

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,727,490 · end of year $338,634

  • 19 · Deferred revenue

    beginning of year $112,319 · end of year $169,941

  • 23 · Secured mortgages and notes payable

    beginning of year $23,461,315 · end of year $24,016,608

  • 25 · Other liabilities

    beginning of year $331,359 · end of year $138,952

  • 27 · Net assets without donor restrictions

    beginning of year $18,852,699 · end of year $20,478,587

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO CREATE, RECRUIT, GROW AND RETAIN TECHNOLOGY AND BIOSCIENCE BUSINESSES IN NORTHEAST KANSAS WITH THE ULTIMATE VISION TO BUILD A MORE MODERN, RESILIENT AND DIVERSE REGIONAL ECONOMY.

  • IN 2022, THE BIOSCIENCE AND TECHNOLOGY BUSINESS CENTER (BTBC) WAS ABLE TO ACCOMPLISH ITS STATED GOALS IN MULTIPLE AREAS INCLUDING OPENING OF ITS NEWEST BUILDING, THE 66,000 SQUARE FOOT BUILDING PHASE III DEVELOPMENT OPENED IN AUGUST OF 2022. THE PARK CONTINUED ITS MISSION TO CREATE, RECRUIT, GROW, AND RETAIN ADDITIONAL HIGH POTENTIAL COMPANIES TO THE PARK INCLUDING ITS NEW PHASE III BUILDING. IT WILL GENERATE SPACE FOR AN ADDITIONAL 12-18 COMPANIES WITH 200-250 JOBS. THE ORGANIZATION STRIVES TO SERVE AS THE LEAD BUSINESS AND ECONOMIC DEVELOPMENT CONTACT FOR LIFE SCIENCES AND TECHNOLOGY COMPANIES INTERESTED IN DOING BUSINESS IN THE LAWRENCE AND DOUGLAS COUNTY REGION. THE PARK SEEKS TO SERVE THE NEEDS OF LIFE SCIENCES AND TECHNOLOGY COMPANIES BY PROVIDING 1) SPECIALIZED LABORATORY AND OFFICE SPACE ON THE UNIVERSITY OF KANSAS WEST CAMPUS, 2) BUSINESS DEVELOPMENT SERVICES, 3) COLLABORATIVE RESEARCH PROJECTS WITH THE UNIVERSITY OF KANSAS, 4) RECRUITMENT AND RELOCATION ASSISTANCE, 5) ACCESS TO CAPITAL, AND 6) ACCESS TO THE VAST BTBC NETWORK OF RESOURCES.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adam Courtney

    VP FINANCE

    Total calculated
    $227,969
    From this org
    $208,841
    From related orgs
    $0
    Other
    $19,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,841
    Bonus
    not reported
    Other
    not reported
    Deferred
    $12,530
    Nontaxable benefits
    $6,598
    Filer's total
    $227,969

  • Kate Chinn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Dever

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Douglas Girod

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Karen Willey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Johnson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Derek Kwan

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Valentino J Stella

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Simari

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Lowe

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Craig Owens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Plinsky

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • E Laverne Epp

    PRESIDENT

    Total calculated
    $181,005
    From this org
    $168,693
    From related orgs
    $0
    Other
    $12,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,693
    Bonus
    not reported
    Other
    not reported
    Deferred
    $10,122
    Nontaxable benefits
    $2,190
    Filer's total
    $181,005

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 · 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

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • KAW INC

    C CORP · MANAGEMENT · KS · 100% owned · share of income $98,676 · share of assets $1,197,148

Provenance

Return type
form_990
Tax year
2023
Filed
2 October 2024
IRS schema version
2023v5.0
Source object
202442829349300249

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