Hudson-Alpha Institute For Biotechnology
- Assets
- $188.6m
- Revenue
- $45.3m
- Investments
- $39.5m
- Employees
- 260
- Location
- Huntsville, AL
- Founding
- 06/2005
- Data as of
- 12/2021
- EIN
- 43-2059317
Organization Overview
Hudson-Alpha Institute For Biotechnology, operating under the name Biotechnology, is located in Huntsville, AL. The organization was established in 2005. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2022, Biotechnology employed 260 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Biotechnology 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, Biotechnology generated $45.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $62.8m during the year ending 12/2021. While expenses have increased by 3.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY MISSION OF THE INSTITUTE WILL BE TO USE THE INCREASINGLY POWERFUL RESEARCH TOOLS BEING DEVELOPED IN THE BIOTECHNOLOGY AREA TO BETTER UNDERSTAND THE CAUSES OF CERTAIN DISEASES AND TO APPLY THE FINDINGS OF SUCH RESEARCH TO HELP DEVELOP NEW AND MORE EFFECTIVE TREATMENTS FOR SUCH DISEASES. THE INSTITUTE'S CHARITABLE MISSION CONTEMPLATES NUMEROUS OTHER ACTIVITIES ALL OF WHICH ARE INTENDED TO HELP FURTHER BIOTECH RESEARCH IN ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES, PROGRAMS, AND COLLABORATIONS FOR THE INSTITUTE TO ACCOMPLISH ITS CHARITABLE OBJECTIVE OF SERVING AS A CATALYST FOR BIOTECHNOLOGY RESEARCH AND DEVELOPEMENT.
ACTIVITIES, PROGRAMS AND COLLABORATIONS FOR THE INSTITUE TO ACCOMPLISH ITS CHARITABLE OBJECTIVE OF CREATING ECONOMIC GROWTH IN BIOTECHNOLOGY RELATED FIELDS
ACTIVITIES, PROGRAMS AND COLLABORATIONS FOR THE INSTITUTE TO ACCOMPLISH ITS CHARITABLE OBJECTIVE OF PROVIDING A VARIETY OF EDUCATIONAL OUTREACH PROGRAMS.
ACTIVITIES, PROGRAMS AND COLLABORATIONS FOR THE INSTITUTE TO ACCOMPLISH ITS CHARITABLE OBJECTIVE OF DEVELOPING, PROVIDING AND ADVANCING GENOMIC MEDICINE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Myers Chief Scient | Officer | 40 | $660,725 |
Gregory Barsh Principal In | Officer | 40 | $348,103 |
Neil Lamb President | Officer | 40 | $343,035 |
Jeremy Schmutz Principal In | Officer | 40 | $305,798 |
Carter Wells VP Econ Deve | Officer | 40 | $309,000 |
Jane Grimwood Principal In | Officer | 40 | $282,027 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Discovery Life Sciences Sequencing | 12/30/22 | $7,411,221 |
Gener8tor Mangement Llc Consulting | 12/30/22 | $400,000 |
Bradley Arant Legal Services | 12/30/22 | $607,528 |
Srm Concrete Llc Building Constr | 12/30/22 | $286,906 |
Corporate Billing Llc Landscaping | 12/30/22 | $164,391 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,405,092 |
| Investment income | $373,674 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $69,571 |
| Net Rental Income | $4,340,684 |
| Net Gain/Loss on Asset Sales | $83,831 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,340,795 |
| Statement of Expenses | |
|---|---|
| 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. | $5,471,705 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,355,199 |
| Pension plan accruals and contributions | $864,540 |
| Other employee benefits | $2,239,871 |
| Payroll taxes | $1,190,220 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $481,871 |
| Fees for services: Accounting | $120,729 |
| Fees for services: Lobbying | $299,292 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,050 |
| Fees for services: Other | $11,951 |
| Advertising and promotion | $90,247 |
| Office expenses | $979,114 |
| Information technology | $2,637,294 |
| Royalties | $0 |
| Occupancy | $8,771,992 |
| Travel | $58,156 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,652,271 |
| Insurance | $270,892 |
| All other expenses | $0 |
| Total functional expenses | $62,805,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,104,584 |
| Savings and temporary cash investments | $22,460,736 |
| Pledges and grants receivable | $14,995,796 |
| Accounts receivable, net | $1,118,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,435,329 |
| Investments—publicly traded securities | $3,020,683 |
| Investments—other securities | $39,512,000 |
| Investments—program-related | $0 |
| Intangible assets | $440,958 |
| Other assets | $885,911 |
| Total assets | $188,566,945 |
| Accounts payable and accrued expenses | $5,871,051 |
| Grants payable | $0 |
| Deferred revenue | $1,798,478 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,269,172 |
| Total liabilities | $11,938,701 |
| Net assets without donor restrictions | $174,652,966 |
| Net assets with donor restrictions | $1,975,278 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $176,628,244 |