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”
990 • Fiscal year 2023 • EIN 20-5349674
Scores are not available for this record yet.
Assets
Up$45,142,722
Up $657,540 (+1.5%) from 2022
Net Assets
Up$20,478,587
Up $1,625,888 (+8.6%) from 2022
Liabilities
Down$24,664,135
Down $968,348 (-3.8%) from 2022
Revenue
Down$6,583,194
Down $7,268,404 (-52%) from 2022
Expenses
Up$4,957,306
Up $718,145 (+17%) from 2022
Net Income
Down$1,625,888
Down $7,986,549 (-83%) from 2022
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.
The organization's mission is to create, recruit, grow and retain technology and bioscience businesses in northeast kansas with the ultimate vision to build a more modern, resilient and diverse regional economy.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $37,855,935 | $40,051,963 | ▲ $2,196,028 |
| Savings and Temporary Cash Investments | $5,095,376 | $3,741,819 | ▼ $1,353,557 |
| Accounts Receivable | $538,225 | $612,740 | ▲ $74,515 |
| Receivables From Officers Etc | $294,439 | $325,412 | ▲ $30,973 |
| Cash and Non-Interest-Bearing Accounts | $343,608 | $163,690 | ▼ $179,918 |
| Prepaid Expenses and Deferred Charges | $45,702 | $22,019 | ▼ $23,683 |
| Total Assets | $44,485,182 | $45,142,722 | ▲ $657,540 |
| Other Assets Total | $311,897 | $225,079 | ▼ $86,818 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $23,461,315 | $24,016,608 | ▲ $555,293 |
| Accounts Payable and Accrued Expenses | $1,727,490 | $338,634 | ▼ $1,388,856 |
| Deferred Revenue | $112,319 | $169,941 | ▲ $57,622 |
| Other Liabilities | $331,359 | $138,952 | ▼ $192,407 |
| Total Liabilities | $25,632,483 | $24,664,135 | ▼ $968,348 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $18,852,699 | $20,478,587 | ▲ $1,625,888 |
| Total Net Assets Fund Balance | $18,852,699 | $20,478,587 | ▲ $1,625,888 |
| Total Liabilities and Net Assets / Fund Balance | $44,485,182 | $45,142,722 | ▲ $657,540 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $36,042,344 | $5,441,735 | $41,484,079 |
| Other Land Buildings | $3,595,401 | - | $3,595,401 |
| Equipment | $414,218 | $885,892 | $1,300,110 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Adam Courtney | VP Finance | FT | $208,841 | $19,128 | $227,969 |
| E Laverne Epp | President | FT | $168,693 | $12,312 | $181,005 |
| Name | Title |
|---|---|
| Bonnie Lowe | Board Member |
| Craig Owens | Board Member |
| Douglas Girod | Board Member |
| Karen Willey | Board Member |
| Kate Chinn | Board Member |
| Mike Dever | Board Member |
| Robert Simari | Board Member |
| Sarah Plinsky | Board Member |
| Valentino J Stella | Board Member |
| Derek Kwan | Secretary |
| Robert Johnson | Treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Marlan Construction | Construction | 701 E 19TH STREET, Lawrence, KS 66044 | $1,083,747 |
| Mcelroy's INC | Mechanical | 3310 SW TOPEKA BLVD, Topeka, KS 66611 | $180,172 |
| Evergy | Electrical | 818 S KANSAS AVE, Topeka, KS 66601 | $126,041 |
| Ku Facilities Services | Construction | 1246 W CAMPUS RD, Lawrence, KS 66045 | $104,076 |
| Line Item | Amount |
|---|---|
| Other Expenses | $4,008,608 |
| Salaries, Compensation, and Employee Benefits | $948,698 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | $1,473,973 | $2,170 | - | $1,476,143 |
| Depreciation Depletion | $1,118,930 | - | - | $1,118,930 |
| Interest | $1,040,193 | - | - | $1,040,193 |
| Other Salaries and Wages | $367,353 | $106,529 | - | $473,882 |
| Current Officers, Directors, Trustees, and Key Employees | $362,432 | $15,102 | - | $377,534 |
| Insurance | $137,011 | $9,606 | - | $146,617 |
| Advertising | - | $62,678 | - | $62,678 |
| Information Technology | $44,699 | $10,743 | - | $55,442 |
| Payroll Taxes | $45,784 | $7,631 | - | $53,415 |
| Fees for Services Management | $13,925 | $30,443 | - | $44,368 |
| Fees for Services Accounting | - | $44,081 | - | $44,081 |
| Pension Plan Contributions | $37,600 | $6,267 | - | $43,867 |
| Fees for Services Other | - | $16,638 | - | $16,638 |
| All Other Expenses | $10,840 | - | - | $10,840 |
| Other Expenses | - | $8,669 | - | $8,669 |
| Fees for Services Legal | - | $-71 | - | $-71 |
| Travel | - | $-15,920 | - | $-15,920 |
| Total Functional Expenses | $4,652,740 | $304,566 | $0 | $4,957,306 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Officers, Directors, Trustees, and Key Employees | $294,439 | $325,412 | ▲ $30,973 |
| Liability | Amount |
|---|---|
| Contruction Retainage Payable | $81,692 |
| Lease Deposits | $57,260 |
“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”
“Contracts with kaw, inc and lrtc to provide management, property management and client service.”
“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.”
“Class a directors elect class b directors.”
“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.”
“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.”
“The board reviews and approves officers' compensation.”
“All relevant documents are made available to the public upon request in either paper or digital format.”
“The organization's mission is to create, recruit, grow and retain technology and bioscience businesses in northeast kansas with the ultimate vision to build a more modern, resilient and diverse regional economy.”
“In 2022, the bioscience and technology business center (btbc) was able to accomplish its stated goals in multiple areas including opening of its newest building, the 66,000 square foot building phase iii development opened in august of 2022. The park continued its mission to create, recruit, grow, and retain additional high potential companies to the park including its new phase iii building. 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.”
“In september 2023, e. Laverne epp, ku innovation park's long-time leader and executive chair, passed away. Mr. Epp was a visionary leader with a natural talent for bringing people together. He never lost sight of the value of partnerships. An incredible listener and mentor, he was dedicated to ku innovation park's mission and vision, working tirelessly to ensure its success. Mr. Epp's career began in 1976 when he joined a private law practice in newton, kan. Ten years later, he co-founded a development and management company for senior living. Its flagship community, brandon woods, brought mr. Epp to lawrence. In 2001, he was named president of bethel college, his alma mater. His involvement with ku innovation park began in 2006, when he was asked to serve on the lawrence-douglas county bioscience authority board. Upon mr. Epp's passing, the ku innovation park board of directors named adam courtney, the park's chief financial officer, as interim chief executive officer. Mr. Courtney began working at the park in january 2014 as its vice president of finance. During his time at the park, courtney led the financing efforts for the phase iii building, completed in 2022, includes securing funding from the u.s. Economic development agency and the state of kansas. As chief financial officer, he managed the park's financial and accounting duties, and capital structure and partners. He also works collaboratively with park tenant companies in various startup activities, including scaling business operations, writing business and strategic plans, making collaborative connections and raising capital. Mr. Courtney was named ceo in march 2024.”
“The organization was in the process of completing the required audit at the time of preparation of the 990.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Desc | 0 | IN 2022, THE BIOSCIENCE AND TECHNOLOGY BUSINESS CENTER (BTBC) WAS ABLE TO ACCOMPLISH ITS STATED GOALS IN MULTIPLE AREAS INCLUDING OPENING OF ITS NEWEST BUILDING, THE 66,000 SQUARE FOOT BUILDING PHASE III DEVELOPMENT OPENED IN AUGUST OF 2022. THE PARK CONTINUED ITS MISSION TO CREATE, RECRUIT, GROW, AND RETAIN ADDITIONAL HIGH POTENTIAL COMPANIES TO THE PARK INCLUDING ITS NEW PHASE III BUILDING. 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. |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION'S MISSION IS TO CREATE, RECRUIT, GROW AND RETAIN TECHNOLOGY AND BIOSCIENCE BUSINESSES IN NORTHEAST KANSAS WITH THE ULTIMATE VISION TO BUILD A MORE MODERN, RESILIENT AND DIVERSE REGIONAL ECONOMY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | IN 2022, THE BIOSCIENCE AND TECHNOLOGY BUSINESS CENTER (BTBC) WAS ABLE TO ACCOMPLISH ITS STATED GOALS IN MULTIPLE AREAS INCLUDING OPENING OF ITS NEWEST BUILDING, THE 66,000 SQUARE FOOT BUILDING PHASE III DEVELOPMENT OPENED IN AUGUST OF 2022. THE PARK CONTINUED ITS MISSION TO CREATE, RECRUIT, GROW, AND RETAIN ADDITIONAL HIGH POTENTIAL COMPANIES TO THE PARK INCLUDING ITS NEW PHASE III BUILDING. 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/ExplanationTxt | 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 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | CONTRACTS WITH KAW, INC AND LRTC TO PROVIDE MANAGEMENT, PROPERTY MANAGEMENT AND CLIENT SERVICE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | CLASS A DIRECTORS ELECT CLASS B DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE BOARD REVIEWS AND APPROVES OFFICERS' COMPENSATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | ALL RELEVANT DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST IN EITHER PAPER OR DIGITAL FORMAT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 10 | IN SEPTEMBER 2023, E. LAVERNE EPP, KU INNOVATION PARK'S LONG-TIME LEADER AND EXECUTIVE CHAIR, PASSED AWAY. MR. EPP WAS A VISIONARY LEADER WITH A NATURAL TALENT FOR BRINGING PEOPLE TOGETHER. HE NEVER LOST SIGHT OF THE VALUE OF PARTNERSHIPS. AN INCREDIBLE LISTENER AND MENTOR, HE WAS DEDICATED TO KU INNOVATION PARK'S MISSION AND VISION, WORKING TIRELESSLY TO ENSURE ITS SUCCESS. MR. EPP'S CAREER BEGAN IN 1976 WHEN HE JOINED A PRIVATE LAW PRACTICE IN NEWTON, KAN. TEN YEARS LATER, HE CO-FOUNDED A DEVELOPMENT AND MANAGEMENT COMPANY FOR SENIOR LIVING. ITS FLAGSHIP COMMUNITY, BRANDON WOODS, BROUGHT MR. EPP TO LAWRENCE. IN 2001, HE WAS NAMED PRESIDENT OF BETHEL COLLEGE, HIS ALMA MATER. HIS INVOLVEMENT WITH KU INNOVATION PARK BEGAN IN 2006, WHEN HE WAS ASKED TO SERVE ON THE LAWRENCE-DOUGLAS COUNTY BIOSCIENCE AUTHORITY BOARD. UPON MR. EPP'S PASSING, THE KU INNOVATION PARK BOARD OF DIRECTORS NAMED ADAM COURTNEY, THE PARK'S CHIEF FINANCIAL OFFICER, AS INTERIM CHIEF EXECUTIVE OFFICER. MR. COURTNEY BEGAN WORKING AT THE PARK IN JANUARY 2014 AS ITS VICE PRESIDENT OF FINANCE. DURING HIS TIME AT THE PARK, COURTNEY LED THE FINANCING EFFORTS FOR THE PHASE III BUILDING, COMPLETED IN 2022, INCLUDES SECURING FUNDING FROM THE U.S. ECONOMIC DEVELOPMENT AGENCY AND THE STATE OF KANSAS. AS CHIEF FINANCIAL OFFICER, HE MANAGED THE PARK'S FINANCIAL AND ACCOUNTING DUTIES, AND CAPITAL STRUCTURE AND PARTNERS. HE ALSO WORKS COLLABORATIVELY WITH PARK TENANT COMPANIES IN VARIOUS STARTUP ACTIVITIES, INCLUDING SCALING BUSINESS OPERATIONS, WRITING BUSINESS AND STRATEGIC PLANS, MAKING COLLABORATIVE CONNECTIONS AND RAISING CAPITAL. MR. COURTNEY WAS NAMED CEO IN MARCH 2024. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 11 | THE ORGANIZATION WAS IN THE PROCESS OF COMPLETING THE REQUIRED AUDIT AT THE TIME OF PREPARATION OF THE 990. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 2 |
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Displayed year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.