University Enterprise Laboratories Inc
- Assets
- $20.1m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 1
- Location
- St Paul, MN
- Founding
- 11/2003
- Data as of
- 12/2021
- EIN
- 41-2093194
Organization Overview
University Enterprise Laboratories Inc is located in St Paul, MN. The organization was established in 2003. According to its NTEE Classification (U50) the organization is classified as: Biological & Life Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Enterprise Laboratories Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, University Enterprise Laboratories Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 7.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY ENTRPRISE LABORATORIES (UEL) IS ORGANIZED FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. IT SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS. IT ALSO SUPPORTS STUDENT WORK EXPERIENCE THROUGH INTERNSHIP OPPORTUNITIES, AND TECHNOLOGY TRANSFER WITH THE UNIVERSITY OF MINNESOTA. IT IS ORGANIZED AND WILL CONTINUE TO BE OPERATED TO PROMOTE, ENCOURAGE, AND AID SCIENTIFIC INVESTIGATION, RESEARCH, TECHNOLOGICAL ADVANCEMENT, EDUCATIONAL OPPORTUNITIES, AND ENTREPRENEURSHIP; PROMOTE, ENCOURAGE AND AID IN THE MUTUAL TRANSFER AND APPLICATION OF SCIENTIFIC INVESTIGATION AND RESEARCH, TECHNOLOGICAL ADVANCEMENT, AND EDUCATIONAL OPPORTUNITIES IN COLLABORATION WITH EDUCATIONAL AND RESEARCH INSTITUTIONS, INDUSTRY, BUSINESS, AND GOVERNMENT.
Describe the Organization's Program Activity:
SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Rucker Executive Director | Officer | 40 | $140,137 |
Steve Mertens Chair - Outgoing | OfficerTrustee | 1 | $0 |
Andy Lafrence Chair | OfficerTrustee | 1 | $0 |
Barbara Nelson Vice Chair | OfficerTrustee | 1 | $0 |
Denise Holloman Secretary | OfficerTrustee | 1 | $0 |
Jessica Mogilka Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tapestry Management Llc Management Services | 12/30/21 | $482,483 |
Clover Maintenance Janitorial Services | 12/30/21 | $189,459 |
Harris Mechanical Hvac Repairs/contract | 12/30/21 | $165,605 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $240,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $242,020 |
| Total Program Service Revenue | $3,642,102 |
| Investment income | $3,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,892,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $166,859 |
| Compensation of current officers, directors, key employees. | $41,715 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,720 |
| Fees for services: Management | $132,996 |
| Fees for services: Legal | $9,880 |
| Fees for services: Accounting | $45,695 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $946 |
| Fees for services: Other | $185,921 |
| Advertising and promotion | $200,458 |
| Office expenses | $49,607 |
| Information technology | $34 |
| Royalties | $0 |
| Occupancy | $1,003,350 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $836,601 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $947,008 |
| Insurance | $55,926 |
| All other expenses | $0 |
| Total functional expenses | $4,105,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $526,120 |
| Savings and temporary cash investments | $360,727 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122,071 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,601 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $142,003 |
| Net Land, buildings, and equipment | $18,505,835 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $436,609 |
| Total assets | $20,128,966 |
| Accounts payable and accrued expenses | $138,237 |
| Grants payable | $0 |
| Deferred revenue | $40,845 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,270,630 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $120,564 |
| Total liabilities | $15,570,276 |
| Net assets without donor restrictions | $4,558,690 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $20,128,966 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Enterprise Laboratories Inc has recieved totaling $20.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $20 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Enterprise Laboratories Inc St Paul, MN | $20,128,966 | $3,892,703 |
Freshwater Society St Paul, MN | $5,721,702 | $1,089,251 |
Organization For Human Brain Mapping Inc Roseville, MN | $1,644,281 | $997,465 |
Forward Biolabs Inc Madison, WI | $2,153,879 | $1,288,327 |
Mycological Society Of America The Madison, WI | $2,596,407 | $233,916 |
Wisconsin Turfgrass Association Incorporated Verona, WI | $217,016 | $0 |
Academy Of Clinical Electro Physiology And Wound Mgt Apta Inc La Crosse, WI | $385,391 | $0 |
Wisconsin Technology Innovation Initiative Inc Middleton, WI | $640,559 | $0 |
Diversity Inventory Group Inc Madison, WI | $100,037 | $4,877 |
Sauna Research Institute Minneapolis, MN | $6,520 | $10,000 |