Overview
What is University Enterprise Laboratories Inc?
University Enterprise Laboratories Inc, located in St. Paul, Minnesota, serves as a supportive hub for emerging life science companies. It offers access to advanced laboratory facilities, shared equipment, business and entrepreneurship training, a network of startups, and collaboration opportunities with university-based researchers. The organization's mission is to foster the growth and commercial success of early-stage life science ventures in Minnesota's entrepreneurship ecosystem. Additionally, it supports student work experiences through internship opportunities and facilitates technology transfer with the University of Minnesota. Overall, University Enterprise Laboratories Inc aims to promote scientific investigation, research, technological advancement, educational opportunities, and entrepreneurship, collaborating with educational and research institutions, industry, business, and government.
Official website here: www.uelmn.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81% (Three-Star out of Four Star rating)
University Enterprise Laboratories Inc has received a Three-Star rating from Charity Navigator, reflecting an overall score of 81%. This score is based entirely on their Accountability & Finance metrics, indicating a strong commitment to responsible financial practices and transparent governance. The organization has demonstrated a high level of accountability, with a notable majority of independent board members and a comprehensive set of policies in place.
The financial health of University Enterprise Laboratories Inc is solid, highlighted by a program expense ratio of 94.42%, which suggests that a significant portion of their funds is directed towards their charitable programs. Additionally, they have received full marks for their audit and oversight committee, conflict of interest policies, and document retention practices, which reinforces their commitment to transparency and ethical management.
While the organization exhibits many strengths in governance and financial accountability, potential donors and stakeholders may want to further investigate other aspects of their performance, such as programmatic outcomes and impact measurements, which are not covered in the current rating. Overall, the ratings indicate a well-managed nonprofit with a focus on maintaining integrity in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is University Enterprise Laboratories Inc legitimate?
University Enterprise Laboratories Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Enterprise Laboratories Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $64,479
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.uelmn.org
What is the mission statement of University Enterprise Laboratories Inc?
University Enterprise Laboratories Inc is established for charitable, educational, and scientific purposes, serving as a laboratory-based incubator for emerging life science companies. It offers access to world-class laboratory facilities, shared equipment, business and entrepreneurship training, a community of startups, and collaboration with university-based researchers. The organization supports student work experience through internship opportunities and technology transfer with the University of Minnesota. Its mission is to help early-stage ventures in life sciences grow and achieve commercial success through connections, services, and world-class laboratory facilities within Minnesota's entrepreneurship ecosystem.
Official website here: www.uelmn.org
What is the revenue of University Enterprise Laboratories Inc?
University Enterprise Laboratories Inc's revenue in 2023 was $4,130,870.
Official website here: www.uelmn.org
Who are the executives of University Enterprise Laboratories Inc and what are their salaries?
The average compensation at University Enterprise Laboratories Inc during 2023 was $64,479. There is 1 employee and 11 volunteers at University Enterprise Laboratories Inc.
Here are 15 key members and their salaries:
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Official website here: www.uelmn.org
Where can I find the form 990 for University Enterprise Laboratories Inc?
University Enterprise Laboratories Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.uelmn.org
Learn more at the official website: www.uelmn.org
Mission Statement of University Enterprise Laboratories Inc
University Enterprise Laboratories Inc, a charitable organization, is dedicated to supporting the growth and commercial success of early-stage ventures in the life sciences field. Its mission is to facilitate connections, provide necessary services, and offer access to world-class laboratory facilities. This nonprofit aims to foster an environment conducive to entrepreneurship within Minnesota's thriving life sciences ecosystem. By offering shared equipment, business and entrepreneurship training, and a community of startups, University Enterprise Laboratories Inc empowers emerging life science companies to thrive and make significant strides in their respective fields. Furthermore, the organization collaborates with university-based researchers to facilitate technology transfer and provide valuable internship opportunities for students.
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Impact
July, 2024
University Enterprise Laboratories Inc's impact is significant in supporting early-stage ventures in life sciences to achieve growth and commercial success. By providing access to world-class laboratory facilities, shared equipment, business and entrepreneurship training, a community of startups, and collaboration with university-based researchers, UEL plays a crucial role in fostering innovation and technological advancement in the field of life sciences. Additionally, UEL supports student work experience through internship opportunities and facilitates technology transfer with the University of Minnesota. Through its activities, UEL promotes scientific investigation, research, educational opportunities, and entrepreneurship, contributing to the overall development of Minnesota's entrepreneurship ecosystem and the advancement of science research.
This information is meant to be a general summary of University Enterprise Laboratories Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $798
- Program Service Revenue: $4,053,004
- Gross Receipts: $4,130,870
Assets and Liabilities:
- Total Assets: $19,666,443
- Total Liabilities: $15,351,003
- Net Assets: $4,315,440
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,043,358
MAILBOX RENTALS
Revenue
$6,600
FORFEITED DEPOSITS
Revenue
$3,046
Organization Details
Founding Year
2002
Principal Officer
Barbara Nelson
Website
www.uelmn.orgNTEE Category
Code: U50 - Science research
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