Civic Intelligence

Bioscience & Technology Business Center Inc

990 • Fiscal year 2021 • EIN 20-5349674

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

2029 Becker DriveLawrence, KS 66044

(785) 832-2110

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.69x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

4.33x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Net Margin

91st percentile

41%

Higher net margin than 91% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$209,192

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Asset Growth

96th percentile

51%

Faster asset growth than 96% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

91st percentile

94%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$30,111,538

Up $10,155,885 (+51%) from 2020

Net Assets

Up

$9,290,262

Up $1,989,741 (+27%) from 2020

Liabilities

Up

$20,821,276

Up $8,166,144 (+65%) from 2020

Revenue

Up

$4,805,721

Up $2,330,635 (+94%) from 2020

Expenses

Down

$2,815,980

Down $129,102 (-4.4%) from 2020

Net Income

Up

$1,989,741

Up $2,459,737 (+523%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $6,454,114Liabilities 2010: $1,304,745Net Assets 2010: $5,149,3692010Assets 2011: $6,457,559Liabilities 2011: $1,143,213Net Assets 2011: $5,314,3462011Assets 2012: $6,668,154Liabilities 2012: $1,157,136Net Assets 2012: $5,511,0182012Assets 2013: $9,876,483Liabilities 2013: $1,846,097Net Assets 2013: $8,030,3862013Assets 2014: $15,412,465Liabilities 2014: $6,843,148Net Assets 2014: $8,569,3172014Assets 2015: $15,207,016Liabilities 2015: $6,659,762Net Assets 2015: $8,547,2542015Assets 2016: $15,101,224Liabilities 2016: $6,488,951Net Assets 2016: $8,612,2732016Assets 2017: $17,130,801Liabilities 2017: $8,595,911Net Assets 2017: $8,534,8902017Assets 2018: $18,599,012Liabilities 2018: $10,436,628Net Assets 2018: $8,162,3842018Assets 2019: $18,288,569Liabilities 2019: $10,518,052Net Assets 2019: $7,770,5172019Assets 2020: $19,955,653Liabilities 2020: $12,655,132Net Assets 2020: $7,300,5212020Assets 2021: $30,111,538Liabilities 2021: $20,821,276Net Assets 2021: $9,290,2622021Assets 2022: $44,485,182Liabilities 2022: $25,632,483Net Assets 2022: $18,852,6992022Assets 2023: $45,142,722Liabilities 2023: $24,664,135Net Assets 2023: $20,478,5872023Assets 2024: $46,536,366Liabilities 2024: $26,374,942Net Assets 2024: $20,161,4242024

Highlighted filing

2021

Assets$30,111,538
Liabilities$20,821,276
Net Assets$9,290,262

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $784,4472010Revenue 2011: $1,333,193Expenses 2011: $1,168,216Net Income 2011: $164,9772011Expenses 2012: $1,619,9682012Revenue 2013: $4,078,825Expenses 2013: $1,559,457Net Income 2013: $2,519,3682013Revenue 2014: $2,645,171Expenses 2014: $2,106,240Net Income 2014: $538,9312014Revenue 2015: $2,382,028Expenses 2015: $2,404,091Net Income 2015: -$22,0632015Revenue 2016: $2,386,758Expenses 2016: $2,321,739Net Income 2016: $65,0192016Revenue 2017: $2,373,667Expenses 2017: $2,451,050Net Income 2017: -$77,3832017Revenue 2018: $2,590,770Expenses 2018: $2,963,276Net Income 2018: -$372,5062018Revenue 2019: $2,701,344Expenses 2019: $3,080,640Net Income 2019: -$379,2962019Revenue 2020: $2,475,086Expenses 2020: $2,945,082Net Income 2020: -$469,9962020Revenue 2021: $4,805,721Expenses 2021: $2,815,980Net Income 2021: $1,989,7412021Revenue 2022: $13,851,598Expenses 2022: $4,239,161Net Income 2022: $9,612,4372022Revenue 2023: $6,583,194Expenses 2023: $4,957,306Net Income 2023: $1,625,8882023Revenue 2024: $4,943,527Expenses 2024: $5,260,690Net Income 2024: -$317,1632024

Highlighted filing

2021

Revenue$4,805,721
Expenses$2,815,980
Net Income$1,989,741
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$4,805,721
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,824,370$26,760,730▲ $9,936,360
Savings and Temporary Cash Investments$677,306$2,013,330▲ $1,336,024
Accounts Receivable$344,039$615,866▲ $271,827
Receivables From Officers Etc-$254,050-
Cash and Non-Interest-Bearing Accounts$102,188$49,327▼ $52,861
Prepaid Expenses and Deferred Charges$40,805$48,926▲ $8,121
Total Assets$19,955,653$30,111,538▲ $10,155,885
Other Assets Total$1,966,945$369,309▼ $1,597,636
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,815,176$15,274,554▲ $5,459,378
Accounts Payable and Accrued Expenses$1,087,394$3,758,348▲ $2,670,954
Other Liabilities$198,514$1,026,749▲ $828,235
Deferred Revenue$1,554,048$761,625▼ $792,423
Total Liabilities$12,655,132$20,821,276▲ $8,166,144
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,300,521$9,290,262▲ $1,989,741
Total Net Assets Fund Balance$7,300,521$9,290,262▲ $1,989,741
Total Liabilities and Net Assets / Fund Balance$19,955,653$30,111,538▲ $10,155,885

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,930,543$3,748,945$18,679,488
Other Land Buildings$11,742,793-$11,742,793
Equipment$87,394$768,870$856,264
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
E Laverne EppExecutive ChFT$207,219$1,973$209,192
E Laverne EppExecutive Chair-$207,219$1,973$209,192
Adam CourtneyVP FinanceFT$161,765$3,152$164,917
Robert KnappExec VP of CFT$152,133$3,843$155,976
Robert KnappExec VP of Corp Rel-$152,133$3,843$155,976

Board Members and Trustees

NameTitle
Bonnie LoweBoard Member
Brad FinkeldeiBoard Member
Craig OwensBoard Member
Douglas GirodBoard Member
Patrick KellyBoard Member
Robert SimariBoard Member
Sarah PlinskyBoard Member
Valentino J StellaBoard Member
Derek KwanSecretary
Robert JohnsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Law CoConstruction345 RIVERVIEW 3RD FLOOR, Wichita, KS 67203$5,245,267
GouldevansArchitecture706 MASSACHUSETTS, Lawrence, KS 66044$848,427
Marlan ConstructionConstruction701 E 19TH STREET, Lawrence, KS 66044$176,253
Mcelroy's INCMechanical3310 SW TOPEKA BLVD, Topeka, KS 66611$172,597
Revenue and Support

Revenue Composition

Contributions and Grants
$2,835,584
Program Service Revenue
$1,969,776
Investment Income
$1,546
Other Revenue
$-1,185
All Other Contributions
$2,697,184
Change in Net Assets
$1,989,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,829,915
Salaries, Compensation, and Employee Benefits$986,065
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$718,493$3,301-$721,794
Depreciation Depletion$513,622--$513,622
Current Officers, Directors, Trustees, and Key Employees$453,371$58,114-$511,485
Other Salaries and Wages$304,742$57,722-$362,464
Interest$303,185--$303,185
Insurance$108,061$10,208-$118,269
Fees for Services Management$33,523$31,344-$64,867
Payroll Taxes$54,417$9,069-$63,486
Pension Plan Contributions$41,683$6,947-$48,630
Information Technology$24,224$5,650-$29,874
Advertising-$19,373-$19,373
Fees for Services Accounting$16,740--$16,740
Other Expenses$15,833--$15,833
Fees for Services Legal$15,693--$15,693
Fees for Services Other$6,410--$6,410
Travel-$4,255-$4,255
Total Functional Expenses$2,609,997$205,983$0$2,815,980
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$254,050-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contruction Retainage Payable$980,134
Lease Deposits$46,615
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Douglas county government douglas county government county admin trustee employee city of lawrence city of lawrence city manager trustee employee chamber of commerce chamber of commerce ceo trustee employee

Form 990, Page 6, Part VI, Line 3

Contracts with kaw, inc and lrtc to provide management, property management and client service.

Form 990, Page 6, Part VI, Line 6

Btbc has stakeholder members who maintain the four class a director positions and elect the at large board of director members. The stakeholder members are city, county, university of kansas and chamber of commerce who will receive a portion of the net assets upon dissolution. The board of directors approves major decisions.

Form 990, Page 6, Part VI, Line 7A

Class a directors elect class b directors.

Form 990, Page 6, Part VI, Line 8B

The committees of the organization are adviosry in nature and do not have the authority to act on behalf of the governing board.

Form 990, Page 6, Part VI, Line 11B

The return will be reviewed at the next quarterly board meeting. If the filing date falls before the quarterly board meeting, copies are provided to all board members to review, and discussion is conducted via conference calls or e-mails.

Form 990, Page 6, Part VI, Line 12C

Annually, the board and staff disclose any possible conflicts and in the event of a conflict, btbc personnel are obligated to disclose the situation and recuse themselves from any further consideration of the matter until conflict is resolved.

Form 990, Page 6, Part VI, Line 15A

The board reviews and approves officers' compensation.

Form 990, Page 6, Part VI, Line 19

All relevant documents are made available to the public upon request in either paper or digital format.

Filing and Contact Details

Filer

Filer Name
Bioscience & Technology Business
EIN
20-5349674
Phone
7858322110
Address
2029 BECKER DRIVE, LAWRENCE, KS 66044
Doing Business As
Ku Innovation Park

Signing Officer

Name
Adam Courtney
Title
VP Finance
Phone
7858322110
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
E Laverne Epp
Formed
2006
Legal Domicile
Ks
Voting Board Members
11
Independent Board Members
11
Employees
13
Volunteers
9

Preparer

Firm
Ssc Advisors Inc
Address
3320 CLINTON PARKWAY COURT SUITE 1, LAWRENCE, KS 66047
Preparer
Michele C Hammann CPA
Phone
7858384484
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

In 2021, the bioscience and technology business center (btbc) was able to accomplish its stated goals in multiple areas including transitioning the branding of the organization to ku innovation park. The btbc will operate under the dba ku innovation park, but does not plan to change its legal name. The park continued its mission to create, recruit, grow, and retain additional highpotential companies to the park including its new phase iii building. The phase iii development will be a 66,000 square foot building. Btbc received a 7.8mm eda grant for phase iii in october, 2020 and construction began in q1 2021 with an anticipated completion date of q3 2022. It will generate space for an additional 12-18 companies with 200-250 jobs. The organization strives to serve as the lead business and economic development contact for life sciences and technology companies interested in doing business in the lawrence and douglas county region. The park seeks to serve the needs of life sciences and technology companies by providing 1) specialized laboratory and office space on the university of kansas west campus, 2) business development services, 3) collaborative research projects with the university of kansas, 4) recruitment and relocation assistance, 5) access to capital, and 6) access to the vast btbc network of resources.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is exempt from income taxes under section 501(c)(6) of the internal revenue code as provided by a determination letter received from the internal revenue service. The organization's income tax returns are subject to review and examination by federal authorities. The organization is not aware of any activities that are subject to tax on unrelated business income or excise or other taxes.

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IRS990/MissionDesc0BIOSCIENCE & TECHNOLOGY BUSINESS CENTER, INC.'S MISSION IS TO FOSTER THE DEVELOPMENT AND GROWTH OF THE LIFE SCIENCE AND TECHNOLOGY INDUSTRIES IN THE LOCAL AREA.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRUCTION RETAINAGE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AS PROVIDED BY A DETERMINATION LETTER RECEIVED FROM THE INTERNAL REVENUE SERVICE. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ROBERT KNAPP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE CHAIR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VP FINANCE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2EXEC VP OF CORP REL
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN 2021, THE BIOSCIENCE AND TECHNOLOGY BUSINESS CENTER (BTBC) WAS ABLE TO ACCOMPLISH ITS STATED GOALS IN MULTIPLE AREAS INCLUDING TRANSITIONING THE BRANDING OF THE ORGANIZATION TO KU INNOVATION PARK. THE BTBC WILL OPERATE UNDER THE DBA KU INNOVATION PARK, BUT DOES NOT PLAN TO CHANGE ITS LEGAL NAME. THE PARK CONTINUED ITS MISSION TO CREATE, RECRUIT, GROW, AND RETAIN ADDITIONAL HIGHPOTENTIAL COMPANIES TO THE PARK INCLUDING ITS NEW PHASE III BUILDING. THE PHASE III DEVELOPMENT WILL BE A 66,000 SQUARE FOOT BUILDING. BTBC RECEIVED A 7.8MM EDA GRANT FOR PHASE III IN OCTOBER, 2020 AND CONSTRUCTION BEGAN IN Q1 2021 WITH AN ANTICIPATED COMPLETION DATE OF Q3 2022. IT WILL GENERATE SPACE FOR AN ADDITIONAL 12-18 COMPANIES WITH 200-250 JOBS. THE ORGANIZATION STRIVES TO SERVE AS THE LEAD BUSINESS AND ECONOMIC DEVELOPMENT CONTACT FOR LIFE SCIENCES AND TECHNOLOGY COMPANIES INTERESTED IN DOING BUSINESS IN THE LAWRENCE AND DOUGLAS COUNTY REGION. THE PARK SEEKS TO SERVE THE NEEDS OF LIFE SCIENCES AND TECHNOLOGY COMPANIES BY PROVIDING 1) SPECIALIZED LABORATORY AND OFFICE SPACE ON THE UNIVERSITY OF KANSAS WEST CAMPUS, 2) BUSINESS DEVELOPMENT SERVICES, 3) COLLABORATIVE RESEARCH PROJECTS WITH THE UNIVERSITY OF KANSAS, 4) RECRUITMENT AND RELOCATION ASSISTANCE, 5) ACCESS TO CAPITAL, AND 6) ACCESS TO THE VAST BTBC NETWORK OF RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOUGLAS COUNTY GOVERNMENT DOUGLAS COUNTY GOVERNMENT COUNTY ADMIN TRUSTEE EMPLOYEE CITY OF LAWRENCE CITY OF LAWRENCE CITY MANAGER TRUSTEE EMPLOYEE CHAMBER OF COMMERCE CHAMBER OF COMMERCE CEO TRUSTEE EMPLOYEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRACTS WITH KAW, INC AND LRTC TO PROVIDE MANAGEMENT, PROPERTY MANAGEMENT AND CLIENT SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BTBC HAS STAKEHOLDER MEMBERS WHO MAINTAIN THE FOUR CLASS A DIRECTOR POSITIONS AND ELECT THE AT LARGE BOARD OF DIRECTOR MEMBERS. THE STAKEHOLDER MEMBERS ARE CITY, COUNTY, UNIVERSITY OF KANSAS AND CHAMBER OF COMMERCE WHO WILL RECEIVE A PORTION OF THE NET ASSETS UPON DISSOLUTION. THE BOARD OF DIRECTORS APPROVES MAJOR DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CLASS A DIRECTORS ELECT CLASS B DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE COMMITTEES OF THE ORGANIZATION ARE ADVIOSRY IN NATURE AND DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE RETURN WILL BE REVIEWED AT THE NEXT QUARTERLY BOARD MEETING. IF THE FILING DATE FALLS BEFORE THE QUARTERLY BOARD MEETING, COPIES ARE PROVIDED TO ALL BOARD MEMBERS TO REVIEW, AND DISCUSSION IS CONDUCTED VIA CONFERENCE CALLS OR E-MAILS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ANNUALLY, THE BOARD AND STAFF DISCLOSE ANY POSSIBLE CONFLICTS AND IN THE EVENT OF A CONFLICT, BTBC PERSONNEL ARE OBLIGATED TO DISCLOSE THE SITUATION AND RECUSE THEMSELVES FROM ANY FURTHER CONSIDERATION OF THE MATTER UNTIL CONFLICT IS RESOLVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE BOARD REVIEWS AND APPROVES OFFICERS' COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ALL RELEVANT DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST IN EITHER PAPER OR DIGITAL FORMAT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.5$26.4$20.2$4.94$5.26$0.32
2023Detailed filing. Detailed filing data is available for this year.$45.1$24.7$20.5$6.58$4.96$1.63
2022Detailed filing. Detailed filing data is available for this year.$44.5$25.6$18.9$13.9$4.24$9.61
2021Detailed filing. Detailed filing data is available for this year.$30.1$20.8$9.29$4.81$2.82$1.99
2020Detailed filing. Detailed filing data is available for this year.$20.0$12.7$7.30$2.48$2.95$0.47
2019Detailed filing. Detailed filing data is available for this year.$18.3$10.5$7.77$2.70$3.08$0.38
2018Detailed filing. Detailed filing data is available for this year.$18.6$10.4$8.16$2.59$2.96$0.37
2017Detailed filing. Detailed filing data is available for this year.$17.1$8.60$8.53$2.37$2.45$0.08
2016Detailed filing. Detailed filing data is available for this year.$15.1$6.49$8.61$2.39$2.32$0.07
2015Detailed filing. Detailed filing data is available for this year.$15.2$6.66$8.55$2.38$2.40$0.02
2014Detailed filing. Detailed filing data is available for this year.$15.4$6.84$8.57$2.65$2.11$0.54
2013Detailed filing. Detailed filing data is available for this year.$9.88$1.85$8.03$4.08$1.56$2.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.67$1.16$5.51$1.62
2011Summary only. Only limited summary data is available for this year.$6.46$1.14$5.31$1.33$1.17$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.45$1.30$5.15$0.78