Bioscience & Technology Business Center INC

Not tax-deductible

Lawrence, KS501(c)(6)Community DevelopmentEIN 20-5349674Revenue $4.9M in FY2024

On file with the IRSkuinnovationpark.com2029 Becker Dr, 66047-1620 · Lawrence, KSTax-exempt since May 2008

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Bioscience & Technology Business Center, INC.'s mission is to foster the development and growth of the life science and Technology industries in the local area.

92¢ of each $1 spent went to programs.
Run by 9 volunteers and 13 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $2.5M a year · 38% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$294K
to officers and key staff · 6% of spending
Top officer’s pay higher than 85% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$26.4M
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.9M
-25% vs prior year
Spent
$5.3M
To programs
92%
Net assets
$20.2M
By yearFY2020–FY2024
Revenue
$4.9M
FY2024▼ -25%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5M
FY2021$4.8M
FY2022$13.9M
FY2023$6.6M
FY2024$4.9M
Expenses
$5.3M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$2.8M
FY2022$4.2M
FY2023$5.0M
FY2024$5.3M
Net assets
$20.2M
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.3M
FY2021$9.3M
FY2022$18.9M
FY2023$20.5M
FY2024$20.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $4.9M Management & general 8% · $405K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $294K paid to officers and key staff.

Part VII, Section A · reportable compensation
VP Finance
$294,162Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Co- Founder
$0Pt VII · Sec A

Adam Courtney’s $294K as VP Finance is at the 85th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Adam Courtney$294,162$208,841$190,089$161,765$164,092
E Laverne Epp—$168,693$215,417$207,219$191,339
Robert Knapp——$54,573$152,133$35,865
G R Underwood————$118,027

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Bioscience & Technology Business Center INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Helps local life science and technology businesses grow.

Provided by the organization

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1 program · in their own filed words · FY2024
01

In 2024, the bioscience and technology business center (BTBC), doing business as ku innovation park (the park), continued its efforts to create, recruit, grow, and retain technology and bioscience companies in northeast kansas, with the goal of building a more modern, resilient, and diverse regional economy.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$200K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.9M
Ln 12
Fees for servicesLn 2g$3.4M
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$116K
Money outPt IX
$5.3M
Ln 25
Programscol B$4.9M
Managementcol C$405K
Owns and owesPt X
$20.2M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$46.5M
LiabilitiesLn 26$26.4M
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$481K
Fees for servicesLn 2g$3.4M
Investment incomeLn 3$116K
Other incomeLn 4–11$35K
Total revenueLn 12$4.9M
Assets in detailPt X, end of year
CashLn 1$529K
SavingsLn 2$3.4M
Cash and savings togetherLn 1–2$3.9M
Land, buildings, equipmentLn 10c$40.8M
Other assetsLn 15$234K
Total assetsLn 16$46.5M
LiabilitiesLn 26$26.4M
Net assetsLn 32$20.2M
OperationsPt I, VI
EmployeesI 513
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.9M$3.9M
Land, buildings, equipmentLn 10c$40.1M$40.8M
Total assetsLn 16$45.1M$46.5M
LiabilitiesLn 26$24.7M$26.4M
Net assetsLn 32$20.5M$20.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$268K$257K$11K
Other salaries and wagesLn 7$514K$413K$101K
Pension plan contributionsLn 8$32K$28K$5K
Payroll taxesLn 10$48K$42K$7K
Management feesLn 11a$104K$29K$76K
Other fees for servicesLn 11g$103K$103K
Advertising and promotionLn 12$87K$87K
Information technologyLn 14$22K$17K$5K
OccupancyLn 16$1.5M$1.5M
InterestLn 20$1.2M$1.2M
Depreciation, depletion and amortizationLn 22$1.2M$1.2M
InsuranceLn 23$99K$92K$6K
Other expenses (24a–d)Ln 24$26K$21K$5K
Total functional expensesLn 25$5.3M$4.9M$405K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.9M$5.3M−$317K$20.2M 990 PDF
FY2023 $6.6M$5.0M$1.6M$20.5M 990 PDF
FY2022 $13.9M$4.2M$9.6M$18.9M 990 PDF
FY2021 $4.8M$2.8M$2.0M$9.3M 990 PDF
FY2020 $2.5M$2.9M−$470K$7.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $4,943,527 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,841,220$1,383,446
I-9 Program service revenuePrior year $2,646,787$3,408,991
I-10 Investment incomePrior year $100,780$116,277
I-11 Other revenuePrior year −$5,593$34,813
I-12 Total revenuePrior year $6,583,194$4,943,527
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $948,698$862,905
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,008,608$4,397,785
I-18 Total expensesPrior year $4,957,306$5,260,690
I-19 Revenue less expensesPrior year $1,625,888−$317,163
Part VI · Governance 11 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,943,527 across 7 lines filed
VIII-1e Government grants$480,946
VIII-1f All other contributions, gifts and grants$902,500
VIII-1h Total contributions, gifts and grants$1,383,446
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,408,991$3,408,991
VIII-3 Investment incomeExcluded from tax $116,277$116,277
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $34,813$34,813
VIII-12 Total revenueRelated to mission $3,443,804 · Excluded from tax $116,277$4,943,527
Part IX · Statement of functional expenses $5,260,690 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $257,412 · Management $10,726$268,138
IX-7 Other salaries and wagesPrograms $412,883 · Management $101,030$513,913
IX-8 Pension plan contributionsPrograms $27,753 · Management $4,627$32,380
IX-10 Payroll taxesPrograms $41,547 · Management $6,927$48,474
IX-11a Management feesPrograms $28,571 · Management $75,761$104,332
IX-11g Other fees for servicesManagement $103,018$103,018
IX-12 Advertising and promotionManagement $86,770$86,770
IX-14 Information technologyPrograms $17,162 · Management $5,162$22,324
IX-16 OccupancyPrograms $1,545,115$1,545,115
IX-20 InterestPrograms $1,169,091$1,169,091
IX-22 Depreciation, depletion and amortizationPrograms $1,242,606$1,242,606
IX-23 InsurancePrograms $92,086 · Management $6,454$98,540
IX-24 Other expenses (24a–d)Programs $21,183 · Management $4,806$25,989
IX-25 Total functional expensesPrograms $4,855,409 · Management $405,281 · Fundraising $0$5,260,690
Part X · Balance sheet $46,536,366 assets, 14 lines filed
Asset lines not itemized here account for $331,412; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $163,690$528,525
X-2 Savings and temporary cash investmentsStart of year $3,741,819$3,403,424
X-4 Accounts receivableStart of year $612,740$1,194,588
X-9 Prepaid expenses and deferred chargesStart of year $22,019$7,641
X-10c Land, buildings and equipment, netStart of year $40,051,963$40,836,902
X-15 Other assetsStart of year $225,079$233,874
X-16 Total assetsStart of year $45,142,722$46,536,366
X-17 Accounts payable and accrued expensesStart of year $338,634$267,292
X-19 Deferred revenueStart of year $169,941$2,742,016
X-25 Other liabilitiesStart of year $138,952$46,774
X-26 Total liabilitiesStart of year $24,664,135$26,374,942
X-27 Net assets without donor restrictionsStart of year $20,478,587$20,161,424
X-32 Total net assets or fund balancesStart of year $20,478,587$20,161,424
X-33 Total liabilities and net assetsStart of year $45,142,722$46,536,366
Part XI · Reconciliation of net assets $20,161,424 net assets at year end
XI-1 Total revenue$4,943,527
XI-2 Total expenses$5,260,690
XI-3 Revenue less expenses−$317,163
XI-4 Net assets at start of year$20,478,587
XI-10 Net assets at end of year$20,161,424

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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