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 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

THE NORTH CAROLINA BIOTECHNOLOGY CENTER AIDS THE BIOTECHNOLOGY-RELATED EFFORTS OF RESEARCHERS, BUSINESSES, STATE AND FEDERAL GOVERNMENTS, AND OTHER AGENCIES PRIMARILY THROUGH AWARDS OF GRANTS AND LOANS RELATED TO SPECIFIC PROGRAMS AND OTHER SERVICES TO GROW [OR ADVANCE] THE INDUSTRY IN NORTH CAROLINA.

Program Service Accomplishments

Program 1
Expenses: $8,895,001 Revenue: $833,103

OUR COMMERCIALIZATION PROGRAM COMBINES THE SCIENCE AND TECHNOLOGY DEVELOPMENT AND THE EMERGING COMPANY DEVELOPMENT PROGRAMS INTO ONE. SCIENCE AND TECHNOLOGY DEVELOPMENT PROGRAM IS A FUNDAMENTAL...

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OUR COMMERCIALIZATION PROGRAM COMBINES THE SCIENCE AND TECHNOLOGY DEVELOPMENT AND THE EMERGING COMPANY DEVELOPMENT PROGRAMS INTO ONE. SCIENCE AND TECHNOLOGY DEVELOPMENT PROGRAM IS A FUNDAMENTAL PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER. THE GOAL OF THIS PROGRAM IS TO STRENGTHEN THE STATE'S INFRASTRUCTURE FOR LIFE SCIENCE RESEARCH WHICH IS AN ESSENTIAL PREREQUISITE FOR SCIENTIFIC ADVANCES LEADING TO NEW PRODUCTS AND APPLICATIONS. TO MEET THIS GOAL, 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. SUPPORT IS PRIMARILY PROVIDED IN THE FORM OF GRANTS. SINCE 1984, THE PROGRAM HAS PROVIDED OVER $145 MILLION TO ENHANCE THE RESEARCH AND INTELLECTUAL CAPABILITIES OF THE STATE'S ACADEMIC AND NONPROFIT RESEARCH INSTITUTIONS. THE EMERGING COMPANIES DEVELOPMENT PROGRAM IS THE SECOND LARGEST PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER. THE GOAL OF THIS PROGRAM 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; AND PROFESSIONAL REFERRALS. THE LOAN PROGRAM IN PARTICULAR PROVIDES LOANS TO EARLY STAGE COMPANIES. THESE LOANS ARE DESIGNED TO SUPPORT LIFE SCIENCE COMPANY INCEPTION, RESEARCH, AND GROWTH.

Program 2
Expenses: $5,666,182

THE ECONOMIC DEVELOPMENT PROGRAM NOW INCLUDES STATEWIDE DEVELOPMENT, AG SECTOR AND LIFE SCIENCE DEVELOPMENT PROGRAMS. THE AGRICULTURAL SECTOR DEVELOPMENT PROGRAM IS A PROGRAM OF THE NORTH CAROLINA...

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THE ECONOMIC DEVELOPMENT PROGRAM NOW INCLUDES STATEWIDE DEVELOPMENT, AG SECTOR AND LIFE SCIENCE DEVELOPMENT PROGRAMS. THE AGRICULTURAL SECTOR DEVELOPMENT PROGRAM IS A PROGRAM OF THE NORTH CAROLINA BIOTECHNOLOGY CENTER FOCUSED ON THE LARGEST INDUSTRY SECTOR IN THE STATE - AGRICULTURE. THE CORE FOCUS OF THE PROGRAM IS TO SUPPORT THE LARGEST GLOBAL ECONOMIC CLUSTER OF AGRICULTURE BIOTECHNOLOGY IN ITS CONTINUED GROWTH AND CONTRIBUTION. THE AGRICULTURE BIOTECHNOLOGY PROGRAM FOSTERS A DYNAMIC AGRICULTURE COMMUNITY, IMPROVES TECHNOLOGY AND VALUE, AND ATTRACTS AND SUSTAINS JOBS IN AGRICULTURE TO THE STATE. SINCE 2010, MANY COMPANIES SUPPORTING THOUSANDS OF JOBS HAVE BEEN IDENTIFIED AND ENGAGED BY THE PROGRAM.

Program 3
Expenses: $4,228,899 Revenue: $1,746,418

THE SECTOR DEVELOPMENT PROGRAM INCLUDES THE EMERGING SECTOR DEVELOPMENT, CONFERENCE CENTER AT NC BIOTECH AND LIFE SCIENCE INTELLIGENCE PROGRAMS. THE CONFERENCE CENTER IS AN EVENT AND MEETING SPACE...

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THE SECTOR DEVELOPMENT PROGRAM INCLUDES THE EMERGING SECTOR DEVELOPMENT, CONFERENCE CENTER AT NC BIOTECH AND LIFE SCIENCE INTELLIGENCE PROGRAMS. THE CONFERENCE CENTER IS AN EVENT AND MEETING SPACE SOLUTION FOR NUMEROUS LIFE SCIENCE COMPANIES, ORGANIZATIONS AND EDUCATIONAL INSTITUTIONS. IT INCLUDES MEETING AND CATERING SERVICES AND CO-WORKING SPACES. IN ADDITION TO MARKET INTELLIGENCE, THE LSI TEAM IS RESPONSIBLE FOR NETWORK SECURITY AND IT SUPPORT, TECHNICAL SUPPORT FOR THE CENTER'S WEBSITE, CORPORATE RECORD RETENTION AND HISTORICAL ARCHIVES, MANAGEMENT OF THE CENTER'S CLIENT RELATIONSHIP MANAGEMENT SYSTEM, CENTER-WIDE IMPACT MEASUREMENTS, AND PROJECT MANAGEMENT.

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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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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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