NORTH CAROLINA BIOTECHNOLOGY CENTER

EIN: 561434024 501(c)(3) Science & Technology

DURHAM, NC

Total Revenue
$21,049,562
Total Expenses
$22,423,173
Total Assets
$42,239,901
Net Assets
$41,748,125
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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
1984
Legal Domicile
NC
Principal Officer
DOUGLAS L EDGETON
Phone
9195419366
Tax Period
2024-07-01 to 2025-06-30

NORTH CAROLINA BIOTECHNOLOGY CENTER, founded in 1984, is a mid-sized nonprofit in the Science & Technology sector that reported $21.0M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

TO PROVIDE LONG-TERM ECONOMIC AND SOCIETAL BENEFITS TO NORTH CAROLINA THROUGH SUPPORT OF BIOTECHNOLOGY RESEARCH, BUSINESS, EDUCATION AND STRATEGIC POLICY STATEWIDE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,346,311
Program Service Revenue $3,234,385
Investment Income $453,692
Other Revenue $15,174
TOTAL REVENUE $21,049,562

Expense Breakdown

Grants Paid $6,640,295
Salaries & Benefits $10,287,308
Fundraising Expenses $0
Program Expenses $18,858,694
Other Expenses $5,495,570
TOTAL EXPENSES $22,423,173

Year-over-Year Comparison

2024 2023 Change
Revenue $21,049,562 $23,117,302 -0.1%
Expenses $22,423,173 $24,027,592 -0.1%
Net Income $-1,373,611 $-910,290 +0.5%
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

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Governance

Voting Members
40
Independent Members
39
Employees
95
Volunteers
39

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
5
$644,200
Total Directors
40
$446,727
Key Employees
2
$532,492
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REBECCA ALEXANDER DIRECTOR 1.00
Director
$0 $0 $0
PEYTON ANDERSON SECRETARY 2.00
Officer Director
$0 $0 $0
JOHN ANTHONY ATALA DIRECTOR 1.00
Director
$0 $0 $0
JOHN ATKINS III DIRECTOR 2.00
Director
$0 $0 $0
MICHELLE BERREY DIRECTOR 2.00
Director
$0 $0 $0
SANTO COSTA DIRECTOR 1.00
Director
$0 $0 $0
JAMES DATIN VICE CHAIR AND TREASURER 2.00
Officer Director
$0 $0 $0
DOUG EDGETON ASSISTANT SECRETARY 40.00
Officer Director
$356,189 $90,538 $446,727
NEAL FOWLER DIRECTOR 1.00
Director
$0 $0 $0
MEREDITH FRIGA CHAIR 2.00
Officer Director
$0 $0 $0
KELLY FULLER DIRECTOR 1.00
Director
$0 $0 $0
PENNY GORDON-LARSEN DIRECTOR 1.00
Director
$0 $0 $0
MICHELLE GRAINGER DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM HAWKINS III DIRECTOR 1.00
Director
$0 $0 $0
UNDI HOFFLER DIRECTOR 1.00
Director
$0 $0 $0
DAN JANIES DIRECTOR 1.00
Director
$0 $0 $0
KAREN LEVERT DIRECTOR 2.00
Director
$0 $0 $0
JENNIFER LODGE DIRECTOR 1.00
Director
$0 $0 $0
STEVE LOMMEL DIRECTOR 2.00
Director
$0 $0 $0
MERRILL MASON SECRETARY 2.00
Director
$0 $0 $0
SHEILA MIKHAIL DIRECTOR 1.00
Director
$0 $0 $0
ADAM MONROE DIRECTOR 1.00
Director
$0 $0 $0
ARTHUR PAPPAS DIRECTOR 2.00
Director
$0 $0 $0
JOY PARR DRACH DIRECTOR 2.00
Director
$0 $0 $0
SHARON PAYNTER DIRECTOR 1.00
Director
$0 $0 $0
JOHN RABBY DIRECTOR 2.00
Director
$0 $0 $0
MACHELLE BAKER SANDERS DIRECTOR 1.00
Director
$0 $0 $0
SOMNATH MUKHOPADHYAY DIRECTOR (STARTING 5/24) 1.00
Director
$0 $0 $0
MICHAEL TANNER DIRECTOR 1.00
Director
$0 $0 $0
BEN TEAGUE DIRECTOR 2.00
Director
$0 $0 $0
STEVE TROXLER DIRECTOR 1.00
Director
$0 $0 $0
BHASKAR VENEPALLI DIRECTOR 1.00
Director
$0 $0 $0
THOMAS WALKER DIRECTOR 1.00
Director
$0 $0 $0
JOHN LOYACK DIRECTOR 1.00
Director
$0 $0 $0
TIM MINOR DIRECTOR 1.00
Director
$0 $0 $0
BRAD WILSON DIRECTOR 1.00
Director
$0 $0 $0
BENJAMIN YERXA DIRECTOR 1.00
Director
$0 $0 $0
SHAYLAH NUNN JONES DIRECTOR 1.00
Director
$0 $0 $0
MICHELLE LOGAN DIRECTOR 1.00
Director
$0 $0 $0
ASWANI VOLETY DIRECTOR 1.00
Director
$0 $0 $0
JAMES BULLOCK VP FINANCE, ASSISTANT TREASURER 40.00
Officer
$160,771 $36,702 $197,473
MARY BETH THOMAS SR. VP, SCIENCE AND BUSINESS 40.00
Key Emp
$207,477 $58,769 $266,246
WILLIAM BULLOCK SR. VP, STATEWIDE OPERATIONS 40.00
Key Emp
$207,477 $58,769 $266,246
MARK PHILLIPS VP, STATEWIDE OPERATIONS 40.00
Highest
$169,625 $50,410 $220,035
ROBERT LINDBERG VP, SCIENCE & TECHONOLGY DEVELOPMENT 40.00
Highest
$168,551 $50,152 $218,703
LAURA ROWLEY VP, LIFE SCIENCE ECON DEV 40.00
Highest
$161,447 $47,269 $208,716
JOSEPH HENDERSON VP, TALENT & CULTURE DEV 40.00
Highest
$160,854 $47,204 $208,058
MARY HECKT-KISSELL VP, CORPORATE COMMUNICATIONS 40.00
Highest
$160,657 $47,159 $207,816
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
2025 $21,049,562 $22,423,173 $42,239,901 $-1,373,611
2024 $23,117,302 $24,027,592 $44,048,241 $-910,290
2023 $21,886,317 $18,520,073 $44,128,955 $3,366,244
2022 $19,911,762 $16,365,269 $40,603,397 $3,546,493
2021 $16,619,048 $16,539,413 $36,440,488 $79,635
2020 $15,606,451 $18,189,767 $36,713,001 $-2,583,316
2019 $15,039,030 $17,289,381 $39,746,777 $-2,250,351
2018 $15,831,590 $15,630,408 $42,443,719 $201,182
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