Overview
What is North Carolina Biotechnology Center?
The North Carolina Biotechnology Center is a key nonprofit organization based in Research Triangle Park, North Carolina, with a workforce of 79 employees. The organization's mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, businesses, education, and strategic policy statewide. The North Carolina Biotechnology Center achieves this through various programs, including the Science and Technology Development Program and the Emerging Companies Development Program. The Science and Technology Development Program aims to strengthen North Carolina's infrastructure for life science research by providing grants to state universities, colleges, and nonprofit institutions. This program has supported these institutions with over $143 million since 1984. The Emerging Companies Development Program, another significant program, assists North Carolina life science companies by offering funding, technology assessment, strategic partnerships, business plan advice, networking and career transition support, information on venture capital, and available laboratory space, as well as professional referrals. The loan program within this program provides loans to early-stage companies to support their inception, research, and growth.
Official website here: www.ncbiotech.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%
The North Carolina Biotechnology Center has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 96% overall, the organization demonstrates strong governance practices, including a board comprised of 97% independent members and comprehensive policies for conflict of interest, whistleblower protections, and document retention.
Financially, the center shows a robust program expense ratio of 83.05%, reflecting a commitment to allocating resources towards its mission-related activities. Its liabilities to assets ratio stands at a low 2.33%, suggesting a solid financial footing and minimal risk in terms of financial obligations. The organization also scores full points in several areas such as audit oversight and material diversion of assets, indicating a strong ethical framework.
While the center's ratings are impressive, potential donors and supporters should continue to monitor its performance and impact over time. Overall, the North Carolina Biotechnology Center demonstrates a strong commitment to transparency and effective resource management, positioning itself as a leader in the biotech sector.
This AI summary has been generated from information found on Charity Navigator.
Is North Carolina Biotechnology Center legitimate?
North Carolina Biotechnology Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Carolina Biotechnology Center 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: $848,998
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,250,810
For more financial information, click here
Official website here: www.ncbiotech.org
What is the mission statement of North Carolina Biotechnology Center?
The North Carolina Biotechnology Center supports the biotechnology industry in the state through various programs and services, primarily by awarding grants and loans. Its Science and Technology Development Program aims to enhance the research capabilities of academic and nonprofit research institutions, providing essential infrastructure for scientific advances leading to new products and applications. The Emerging Companies Development Program, on the other hand, strengthens and supports North Carolina life science companies, offering funding, strategic partnerships, business plan advice, and other resources to help these companies incept, research, and grow. Since its inception in 1984, the Science and Technology Development Program has provided over $143 million in support. The Emerging Companies Development Program's loan program specifically provides loans to early-stage life science companies.
Official website here: www.ncbiotech.org
Who is the CEO of North Carolina Biotechnology Center?
Douglas L Edgeton is the Chair of North Carolina Biotechnology Center. The CEO's salary of North Carolina Biotechnology Center is $321,360 and their total compensation is $368,254.
Official website here: www.ncbiotech.org
What is the revenue of North Carolina Biotechnology Center?
North Carolina Biotechnology Center's revenue in 2022 was $19,911,762.
Official website here: www.ncbiotech.org
Who are the executives of North Carolina Biotechnology Center and what are their salaries?
The average compensation at North Carolina Biotechnology Center during 2022 was $77,213. There are 79 employees and 39 volunteers at North Carolina Biotechnology Center.
Here are 48 key members and their salaries (North Carolina Biotechnology Center's CEO's salary is $321,360 and their total compensation is $368,254):
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Official website here: www.ncbiotech.org
Where can I find the form 990 for North Carolina Biotechnology Center?
North Carolina Biotechnology Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ncbiotech.org
Learn more at the official website: www.ncbiotech.org
Mission Statement of North Carolina Biotechnology Center
The North Carolina Biotechnology Center, a key player in the biotechnology sector, is dedicated to generating long-term economic and societal benefits for North Carolina. The organization primarily supports biotechnology research, business, education, and strategic policy initiatives throughout the state.
To accomplish its mission, the North Carolina Biotechnology Center provides grants and loans related to specific programs and offers various services to grow and advance the biotechnology industry in the region. The commercialization program is a significant part of the organization, combining science and technology development and emerging company development into one cohesive effort.
The Science and Technology Development Program is a fundamental program of the North Carolina Biotechnology Center, which aims to strengthen the state's infrastructure for life science research. This infrastructure is essential for scientific advances leading to new products and applications. 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. The primary means of support is through grants, and 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 another major program of the North Carolina Biotechnology Center. Its goal 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, as well as professional referrals. The loan program specifically provides loans to early-stage companies, designed to support life science company inception, research, and growth.
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Impact
October, 2024
The North Carolina Biotechnology Center has a significant impact on the state's economy and society by fostering innovation and support in the biotechnology sector. Its programs are designed to strengthen North Carolina’s infrastructure for life science research, which is crucial for scientific advancements that lead to new products and applications.
Through the Science and Technology Development Program, the Center has invested over $143 million since 1984 in grants that enhance research and intellectual capabilities at academic institutions and research organizations across the state. This funding assists universities and colleges in conducting impactful research and public service initiatives.
Additionally, the Emerging Companies Development Program plays a vital role in supporting life sciences companies in North Carolina. By offering funding, technology assessments, strategic partnerships, and business development resources, the Center helps these companies navigate the challenges of inception and growth. Notably, the loan program provides early-stage companies with crucial financial support to drive research and operational success.
Overall, the North Carolina Biotechnology Center is instrumental in driving economic development, fostering innovation in biotechnology, and enhancing educational opportunities in the state, ultimately benefiting residents and businesses alike.
This information is meant to be a general summary of North Carolina Biotechnology Center. 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 2022.
- Investment Income: $148,054
- Program Service Revenue: $2,389,551
- Gross Receipts: $26,150,286
Assets and Liabilities:
- Total Assets: $40,603,397
- Total Liabilities: $910,241
- Net Assets: $39,693,156
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST FROM PROGRAM LOAN
Revenue
$712,578
CONFERENCE CENTER
Revenue
$613,728
LIBRARY RESEARCH FEES
Revenue
$554,061
DATABASE SEARCHES
Revenue
$106,947
INTER-LIBRARY LOAN
Revenue
$27,229
Organization Details
Founding Year
1984
Phone
(919) 541-9366Principal Officer
Douglas L Edgeton
Main Address
PO BOX 13547, RESEARCH TRIANGLE PARK, NC, 27709
Website
www.ncbiotech.orgNTEE Category
Code: U500 - Science research
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