Form 990 for tax year 2024
Filed by NORTH CAROLINA BIOTECHNOLOGY CENTER.
Totals
- Total revenue
- $21,049,562
- Total expenses
- $22,423,173
- Contributions and grants received
- $17,346,311
- Grants paid
- $6,640,295
- Program service revenue
- $3,234,385
- Investment income
- $453,692
- Other revenue
- $15,174
- Total assets, end of year
- $42,239,901
- Total liabilities, end of year
- $491,776
- Net assets or fund balances, end of year
- $41,748,125
- Program services expenses (Part IX)
- $18,858,694
- Management and general expenses
- $3,564,479
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $18,858,694
Program services were 84.1% 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)
$17,134,295
-
1f · All other contributions, gifts and grants
$212,016
-
2a · Program service revenue: INTEREST FROM PROGRAM LOAN
total $833,103 · related or exempt $833,103
-
2b · Program service revenue: CONFERENCE CENTER
total $805,813 · related or exempt $805,813
-
2c · Program service revenue: LIBRARY RESEARCH FEES
total $762,488 · related or exempt $762,488
-
2d · Program service revenue: EVENT SPONSORSHIP
total $280,486 · related or exempt $280,486
-
2e · Program service revenue: DATABASE SEARCHES
total $154,591 · related or exempt $154,591
-
2f · All other program service revenue
total $397,904 · related or exempt $397,904
-
3 · Investment income
total $421,236 · excluded $421,236
-
6a · Gross rents
real property $15,174
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $15,174
-
6d · Net rental income or loss
total $15,174 · excluded $15,174
-
7a · Gross sales of assets other than inventory
securities $620,000
-
7b · Less cost or other basis and sales expenses
securities $587,544
-
7c · Gain or loss
securities $32,456
-
7d · Net gain or loss
total $32,456 · excluded $32,456
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $6,640,295 · program services $6,640,295
-
5 · Compensation of officers, directors and key employees
total $931,913 · program services $593,048 · management and general $338,865
-
7 · Other salaries and wages
total $7,079,427 · program services $6,020,801 · management and general $1,058,626
-
8 · Pension plan contributions
total $774,777 · program services $651,531 · management and general $123,246
-
9 · Other employee benefits
total $919,955 · program services $738,448 · management and general $181,507
-
10 · Payroll taxes
total $581,236 · program services $485,861 · management and general $95,375
-
11b · Fees: legal
total $50,928 · program services $15,412 · management and general $35,516
-
11c · Fees: accounting
total $62,209 · program services $18,845 · management and general $43,364
-
11d · Fees: lobbying
total $229,633 · program services $69,506 · management and general $160,127
-
11g · Fees: other
total $1,037,244 · program services $824,784 · management and general $212,460
-
12 · Advertising and promotion
total $147,601 · program services $147,457 · management and general $144
-
13 · Office expenses
total $343,737 · program services $177,409 · management and general $166,328
-
14 · Information technology
total $456,433 · program services $248,555 · management and general $207,878
-
16 · Occupancy
total $47,633 · program services $47,633
-
17 · Travel
total $211,625 · program services $201,910 · management and general $9,715
-
19 · Conferences, conventions and meetings
total $442,769 · program services $440,637 · management and general $2,132
-
22 · Depreciation, depletion and amortization
total $562,229 · program services $170,196 · management and general $392,033
-
23 · Insurance
total $54,478 · program services $16,567 · management and general $37,911
-
24a · Other expenses: CONFERENCE CENTER EXPEN
total $637,322 · program services $585,683 · management and general $51,639
-
24b · Other expenses: FACILITIES & MAINTENANC
total $630,002 · program services $220,680 · management and general $409,322
-
24c · Other expenses: DUES & SUBSCRIPTIONS
total $551,943 · program services $518,909 · management and general $33,034
-
24e · All other expenses
total $29,784 · program services $24,527 · management and general $5,257
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,375,734 · end of year $9,021,308
-
2 · Savings and temporary cash investments
beginning of year $469,100 · end of year $509,128
-
3 · Pledges and grants receivable
beginning of year $1,020,192 · end of year $36,596
-
4 · Accounts receivable
beginning of year $384,419 · end of year $342,511
-
9 · Prepaid expenses and deferred charges
beginning of year $339,385 · end of year $251,399
-
10a · Land, buildings and equipment: cost or other basis
$23,024,918
-
10b · Land, buildings and equipment: accumulated depreciation
$16,088,225
-
10c · Land, buildings and equipment, net
beginning of year $7,202,658 · end of year $6,936,693
-
11 · Investments: publicly traded securities
beginning of year $5,569,112 · end of year $5,815,152
-
12 · Investments: other securities
beginning of year $7,033,012 · end of year $7,269,951
-
13 · Investments: program-related
beginning of year $11,617,304 · end of year $12,013,032
-
15 · Other assets
beginning of year $37,325 · end of year $44,131
-
17 · Accounts payable and accrued expenses
beginning of year $1,326,418 · end of year $491,776
-
27 · Net assets without donor restrictions
beginning of year $42,391,823 · end of year $41,478,125
-
28 · Net assets with donor restrictions
beginning of year $330,000 · end of year $270,000
Mission and programs · 2024
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 $145 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 $8,895,001 · Grants $5,717,065 · Revenue $833,103
-
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 $5,666,182 · Grants $718,297
-
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 $4,228,899 · Grants $136,321 · Revenue $1,746,418
-
GENERAL AND ADMINISTRATIVE GRANTS, LOANS AND CONTRIBUTIONS.
Expenses $68,612 · Grants $68,612 · Revenue $654,864
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Rebecca AlexanderREBECCA ALEXANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peyton AndersonPEYTON ANDERSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
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
-
Santo CostaSANTO COSTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James DatinJAMES DATIN
VICE CHAIR AND TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Doug EdgetonDOUG EDGETON
ASSISTANT SECRETARY
- Total calculated
- $446,727
- From this org
- $356,189
- From related orgs
- $0
- Other
- $90,538
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $356,189
- Bonus
- $0
- Other
- $0
- Deferred
- $39,181
- Nontaxable benefits
- $51,357
- Filer's total
- $446,727
-
Neal FowlerNEAL FOWLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Meredith FrigaMEREDITH FRIGA
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Kelly FullerKELLY FULLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Penny Gordon-LarsenPENNY GORDON-LARSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michelle GraingerMICHELLE GRAINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
William Hawkins IIIWILLIAM 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
-
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
-
Merrill MasonMERRILL MASON
SECRETARY
- 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
-
Arthur PappasARTHUR PAPPAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joy Parr DrachJOY PARR DRACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
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
-
Somnath MukhopadhyaySOMNATH MUKHOPADHYAY
DIRECTOR (STARTING 5/24)
- 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
- 2
-
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
-
John LoyackJOHN LOYACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim MinorTIM MINOR
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
-
Shaylah Nunn JonesSHAYLAH NUNN JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michelle LoganMICHELLE LOGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Aswani VoletyASWANI VOLETY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James BullockJAMES BULLOCK
VP FINANCE, ASSISTANT TREASURER
- Total calculated
- $197,473
- From this org
- $160,771
- From related orgs
- $0
- Other
- $36,702
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,771
- Bonus
- $0
- Other
- $0
- Deferred
- $17,685
- Nontaxable benefits
- $19,017
- Filer's total
- $197,473
-
Mary Beth ThomasMARY BETH THOMAS
SR. VP, SCIENCE AND BUSINESS
- Total calculated
- $266,246
- From this org
- $207,477
- From related orgs
- $0
- Other
- $58,769
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $207,477
- Bonus
- $0
- Other
- $0
- Deferred
- $22,822
- Nontaxable benefits
- $35,947
- Filer's total
- $266,246
-
William BullockWILLIAM BULLOCK
SR. VP, STATEWIDE OPERATIONS
- Total calculated
- $266,246
- From this org
- $207,477
- From related orgs
- $0
- Other
- $58,769
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $207,477
- Bonus
- $0
- Other
- $0
- Deferred
- $22,822
- Nontaxable benefits
- $35,947
- Filer's total
- $266,246
-
Mark PhillipsMARK PHILLIPS
VP, STATEWIDE OPERATIONS
- Total calculated
- $220,035
- From this org
- $169,625
- From related orgs
- $0
- Other
- $50,410
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $169,625
- Bonus
- $0
- Other
- $0
- Deferred
- $18,659
- Nontaxable benefits
- $31,751
- Filer's total
- $220,035
-
Robert LindbergROBERT LINDBERG
VP, SCIENCE & TECHONOLGY DEVELOPMENT
- Total calculated
- $218,703
- From this org
- $168,551
- From related orgs
- $0
- Other
- $50,152
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $168,551
- Bonus
- $0
- Other
- $0
- Deferred
- $18,541
- Nontaxable benefits
- $31,611
- Filer's total
- $218,703
-
Laura RowleyLAURA ROWLEY
VP, LIFE SCIENCE ECON DEV
- Total calculated
- $208,716
- From this org
- $161,447
- From related orgs
- $0
- Other
- $47,269
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,447
- Bonus
- $0
- Other
- $0
- Deferred
- $17,759
- Nontaxable benefits
- $29,510
- Filer's total
- $208,716
-
Joseph HendersonJOSEPH HENDERSON
VP, TALENT & CULTURE DEV
- Total calculated
- $208,058
- From this org
- $160,854
- From related orgs
- $0
- Other
- $47,204
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,854
- Bonus
- $0
- Other
- $0
- Deferred
- $17,694
- Nontaxable benefits
- $29,510
- Filer's total
- $208,058
-
Mary Heckt-KissellMARY HECKT-KISSELL
VP, CORPORATE COMMUNICATIONS
- Total calculated
- $207,816
- From this org
- $160,657
- From related orgs
- $0
- Other
- $47,159
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,657
- Bonus
- $0
- Other
- $0
- Deferred
- $17,672
- Nontaxable benefits
- $29,487
- Filer's total
- $207,816
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 · 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
-
$711,065
RESEARCH
-
NORTH CAROLINA STATE UNIVERSITY
$486,254
RESEARCH
-
$451,043
RESEARCH
-
UNC-WILMINGTON
$311,144
RESEARCH
-
$293,627
RESEARCH
-
UNC-CHARLOTTE
$185,280
RESEARCH
-
WILSON ECONOMIC DEVELOPMENT COUNCIL
$100,000
RESEARCH
-
EAST CAROLINA UNIVERSITY
$61,697
RESEARCH
-
UNC-ASHEVILLE
$57,632
RESEARCH
-
$54,522
RESEARCH
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611289349301901
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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