UNIVERSITY ENTERPRISE LABORATORIES… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

BARBARA NELSON

Phone

6516412800

Tax Period

2023-01-01 to 2023-12-31

UNIVERSITY ENTERPRISE LABORATORIES INC, founded in 2002, is a community nonprofit in the Science & Technology sector that reported $4.1M in total revenue in fiscal year 2023.

Mission

THE MISSION OF THE UNIVERSITY ENTERPRISE LABORATORIES IS TO SUPPORT EARLY-STAGE VENTURES IN LIFE SCIENCES TO GROWTH AND COMMERCIAL SUCCESS THROUGH CONNECTIONS, SERVICES, AND WORLD-CLASS LABORATORY FACILITIES IN MINNESOTA'S ENTREPRENEURSHIP ECOSYSTEM.

Program Service Accomplishments

Program 1

Expenses: $3,895,326 Revenue: $4,004,404

SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A...

SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $70,001

Program Service Revenue $4,053,004

Investment Income $798

Other Revenue $7,067

TOTAL REVENUE $4,130,870

Expense Breakdown

Grants Paid $0

Salaries & Benefits $69,412

Fundraising Expenses $0

Program Expenses $3,895,326

Other Expenses $4,042,386

TOTAL EXPENSES $4,111,798

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,130,870	$3,975,153	+0.0%
Expenses	$4,111,798	$4,218,403	0.0%
Net Income	$19,072	$-243,250	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$67,885

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BERTHELSEN	EXECUTIVE DIRECTOR (TERM. 05/2023)	40.00	Officer	$58,908	$0	$58,908
BRAD LARMIE	EXECUTIVE DIRECTOR	40.00	Officer	$8,977	$0	$8,977
ANDY LAFRENCE	CHAIR	1.00	Officer Director	$0	$0	$0
BARBARA NELSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JESSICA MOGLIKA	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL GIETL	TREASURER	1.00	Officer Director	$0	$0	$0
DENISE HOLLOMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
STEVE MERTENS	PAST CHAIR	1.00	Director	$0	$0	$0
KRISTIN GUILD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT ELDE	DIRECTOR	1.00	Director	$0	$0	$0
STEVE KELLEY	DIRECTOR	1.00	Director	$0	$0	$0
LISA HERRON-OLSON	DIRECTOR	1.00	Director	$0	$0	$0
FRANK JASKULKE	DIRECTOR	1.00	Director	$0	$0	$0
PAT MASCIA	DIRECTOR	1.00	Director	$0	$0	$0
KATHY TUNE	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$4,130,870	$4,111,798	$20,324,135	$19,072
2022	$3,975,153	$4,218,403	$19,666,443	$-243,250
2021	$3,892,703	$4,105,219	$20,128,966	$-212,516
2020	$3,796,390	$4,100,636	$20,642,598	$-304,246
2019	$3,206,518	$3,725,765	$21,226,769	$-519,247
2018	$2,878,531	$2,997,605	$22,856,401	$-119,074

UNIVERSITY ENTERPRISE LABORATORIES INC