Form 990 for tax year 2023

Totals

Total revenue

$12,613,457

Total expenses

$4,551,119

Contributions and grants received

$11,083,348

Grants paid

$270,400

Program service revenue

$0

Investment income

$1,530,109

Other revenue

$0

Total assets, end of year

$200,453,008

Total liabilities, end of year

$91,312,047

Net assets or fund balances, end of year

$109,140,961

Program services expenses (Part IX)

$4,022,657

Management and general expenses

$334,520

Fundraising expenses

$193,942

Program service expenses (Part III)

$4,022,657

Program services were 88.4% 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.

Mission and programs · 2023

• The Nevada Health and Bioscience Asset Corporation (NHBAC) was incorporated on May 30, 2019, and received IRS approval for tax-exempt status effective as of the incorporation date. Construction of the Kirk Kerkorian Medical Education Building at UNLV began on October 29, 2019, and the school opened in October 2022, significantly ahead of the original completion date set by the NSHE UNLV/NHBC development agreement, which anticipated a 2025 finish. The building contains state-of-the-art education space, simulation center facilitates, digital medical library, a premier beautiful forum for large student and community events and more, exemplifying the most current attributes in medical education learning today.NHBC continues to support UNLV through (i) the nominal $1 lease/year for the completed Medical Education Building; (ii) UNLV's full use of furniture, fixtures, and equipment funded through contributions to NHBC; (iii) providing staffing oversight assistance to UNLV for costs and physical maintenance of the Medical Education Building; (iv) providing Medical Education Building optimization and energy management projects paid for by NHBC; and (v) collaborating with UNLV on a water softener project for the Medical Education Building with design and construction starting in 2024. NBHC worked with the Eye Center and UNLV to start an ophthalmology residency program that ultimately will be able to support fellowship programs. NHBC is also working with UNLV and other partners to plan and develop other residency programs including the Children's Heart Center pediatric heart cardiologists to begin a fellowship program in pediatric cardiology. It would become the first type of fellowship offered for pediatricians in the State of Nevada.In August 2022, the Nevada Interim Finance Committee approved State ARPA funds to NHBC for a Biomedical Research Facility. NHBC and UNLV collaborated on the request and land structure that resulted in a capital project named the Southern Nevada Public Academic Health Laboratory (Lab). The Lab is estimated to be 34,000 gross square feet housing clinical pathology labs and the first Nevada-operated blood bank. The lab will support UNLV's future pathology residency and fellowship program. The building completion is planned for December 2026.

  Expenses $4,022,657 · Grants $270,400

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

Listed in Part VII

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

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

• Nevada Vision Foundation

  $250,400

  General Charitable Purposes

• The Behavioral Health Association of Nevada

  $20,000

  General Charitable Purposes

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.

• Board of Regents of the Nevada System of Higher Education

  501(c)(3) · Education · NV

Provenance

Return type

form_990

Tax year

2023

Filed

15 November 2024

IRS schema version

2023v5.1

Source object

202443209349323279

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