BioUtah

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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

2012

Legal Domicile

Principal Officer

Kelvyn H Cullimore

Phone

8018674061

Tax Period

2022-07-01 to 2023-06-30

BioUtah, founded in 2012, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2022. Revenue decreased 10% compared to the prior year. Expenses of $1.2M left a modest 8% surplus.

Mission

BioUtah was created to elevate the stature and influence of Utah's life science community on the national and global stage. The organization serves Utah's medical device, biopharma, natural products and healthcare industries through networking, advocacy and educational programs. BioUtah creates value for its members through events, legislative initiatives and community outreach. BioUtah fosters collaboration within and between industry, government and education to provide growth opportunities through funding, talent acquisition/development and strategic partnerships.

Program Service Accomplishments

Program 1

BioUtah represents Utah's medical device, biopharma, natural products and healthcare industries. BioUtah serves as a contact point for media, government officials, researchers and students and offers...

Program 2

BioUtah presents Utah's life sciences summit which brings together members of the life sciences community such as members of industry, government officials, researchers and students to learn about...

BioUtah presents Utah's life sciences summit which brings together members of the life sciences community such as members of industry, government officials, researchers and students to learn about entrepreneurialism, Utah's regulatory environment, building enterprises in Utah, and the overall state and future of the sector. This years summit had attendees with a broad spectrum of participants from accross the groups we serve.

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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 (2022)

Revenue Breakdown

Contributions & Grants $885,290

Program Service Revenue $451,101

Investment Income $503

Other Revenue $124

TOTAL REVENUE $1,337,018

Expense Breakdown

Grants Paid $0

Salaries & Benefits $557,886

Fundraising Expenses $0

Other Expenses $671,062

TOTAL EXPENSES $1,228,948

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,337,018	$1,486,109	-0.1%
Expenses	$1,228,948	$1,424,782	-0.1%
Net Income	$108,070	$61,327	+0.8%

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

N/A

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

$262,150

Total Directors

Key Employees

$382,150

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rob Etherington	Director	0.20	Director	$0	$0	$0
Michael Olson	Director	0.30	Director	$0	$0	$0
Jay Muse	Director	0.20	Director	$0	$0	$0
Randy Rasmussen	Past Chair	0.40	Director	$0	$0	$0
Myles Greenburg	Vice Chair	0.50	Director	$0	$0	$0
Kelvyn Cullimore	CEO/President	40.00	Officer Key Emp Highest	$262,150	$0	$262,150
Denise Bell	Vice President	40.00	Key Emp	$120,000	$0	$120,000
Chris Gibson	Director	0.20	Director	$0	$0	$0
Richard Hague	Director	0.10	Director	$0	$0	$0
Brad Brown	Past Chair	0.70	Director	$0	$0	$0
Erin Barry	Director	0.20	Director	$0	$0	$0
Andrea Kendell	Board Chair	0.70	Director	$0	$0	$0
Kate Benedict	Director	0.25	Director	$0	$0	$0
Keith Marmer	Director	0.40	Director	$0	$0	$0
Mark Paul	Director	0.30	Director	$0	$0	$0
Nathan Arnim	Director	0.20	Director	$0	$0	$0
Bo Nemelka	Director	0.30	Director	$0	$0	$0
Matt Appel	Treasurer	0.70	Director	$0	$0	$0
JB Henriksen	Treasurer	0.70	Director	$0	$0	$0
Jacey Skinner	Secretary	0.70	Director	$0	$0	$0
Kolby Day	Director	0.15	Director	$0	$0	$0
Jeff Stevens	Director	0.25	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,337,018	$1,228,948	$830,883	$108,070
2022	$1,486,109	$1,424,782	$1,065,676	$61,327
2021	$1,010,338	$903,361	$624,817	$106,977
2020	$748,962	$707,790	$440,751	$41,172
2019	$680,934	$660,667	$423,339	$20,267
2018	$513,539	$597,864	$350,424	$-84,325