Bioconnect Iowa
- Assets
- $1.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Des Moines, IA
- Founding
- 10/2013
- Data as of
- 06/2022
- EIN
- 45-3690618
Organization Overview
Bioconnect Iowa is located in Des Moines, IA. The organization was established in 2013. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Bioconnect Iowa employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bioconnect Iowa 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 06/2022, Bioconnect Iowa generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 13.1% per year over the past 3 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.
Since 2018, Bioconnect Iowa has awarded 43 individual grants totaling $2,124,996. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE BIOSCIENCE-BASED ECONOMIC DEVELOPMENT IN THE STATE OF IOWA AND TO FURTHER THE OVERALL DEVELOPMENT AND ECONOMIC WELL-BEING OF THE STATE OF IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SBIR/STTR OUTREACH PROGRAM: BIOCONNECT IOWA MANAGES THIS PROGRAM, FUNDED BY THE IOWA ECONOMIC DEVELOPMENT AUTHORITY (IEDA), WHICH ASSISTS STARTUPS WITH THEIR FEDERAL SOLICITATION APPLICATIONS. AS WELL AS TECHNICAL WRITING ASSISTANCE, BIOCONNECT IOWA PROVIDES SUBSEQUENT MATCHING FUNDS FOR SUCCESSFUL PHASE I SBIR/STTR GRANTEES AND PHASE II SBIR/STTR GRANT APPLICANTS.
IOWA G2M ACCELERATOR PROGRAM: THE IOWA GO-TO-MARKET (G2M) ACCELERATOR PROGRAM PROVIDES "FOLLOW-ON" SUPPORT FOR ENTREPRENEURS WHO HAVE COMPLETED ONE OF THE GROWING NUMBER OF ACCELERATOR PROGRAMS IN THE STATE (OR ARE AT AN EQUIVALENT STAGE FOLLOWING COMPLETION OF A SUCCESSFUL SBIR/STTR PROJECT OR OTHER PROGRAM THAT INCLUDES AN ENTREPRENEURSHIP DEVELOPMENT COMPONENT) BUT WHO NEED ADDITIONAL SUPPORT TO INCREASE THEIR LIKELIHOOD OF COMMERCIAL SUCCESS. THE EIGHT-MONTH PROGRAM ALLOWS YOU TO BUILD ON THE FOUNDATIONAL SKILLS YOU'VE LEARNED AND ADVANCEMENTS YOU'VE MADE IN GROUP AND ONE-ON-ONE SETTINGS. THE THREE ELEMENTS INCLUDED IN THE PROGRAM INCLUDE: 1-ON-1 MENTORSHIP, PRO BONO BUSINESS SUPPORT, AND GROUP WORKSHOPS.
PER IOWA CODE, SECTION 15.107, BIOCONNECT IOWA IS CHARGED WITH RECEIVING AND DISBURSING FUNDS FROM PUBLIC OR PRIVATE SOURCES TO BE USED TO ENHANCE BIOSCIENCE-BASED ECONOMIC DEVELOPMENT IN THE STATE AND TO FURTHER THE OVERALL DEVELOPMENT AND ECONOMIC WELL-BEING OF THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Smith Commercial O | 40 | $150,009 | |
James Register Iiiretired Dec 2021 Past CEO And | Officer | 40 | $150,540 |
Steven Brody CEO And Pres | Officer | 40 | $15,447 |
Matthew Warrens Member | Trustee | 2 | $0 |
Nathan Rasmussen Left March 2022 Member | Trustee | 2 | $0 |
Tim Whipple Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,800,712 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,800,712 |
| Total Program Service Revenue | $0 |
| Investment income | $78 |
| 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 | $1,803,790 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $424,996 |
| 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. | $195,649 |
| Compensation of current officers, directors, key employees. | $146,737 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,081 |
| Pension plan accruals and contributions | $8,123 |
| Other employee benefits | $22,515 |
| Payroll taxes | $37,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,171 |
| Fees for services: Accounting | $19,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,555 |
| Advertising and promotion | $0 |
| Office expenses | $7,190 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,798 |
| Travel | $12,296 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,122 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,820 |
| All other expenses | $283 |
| Total functional expenses | $1,584,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $654,120 |
| Savings and temporary cash investments | $160,134 |
| Pledges and grants receivable | $270,622 |
| Accounts receivable, net | $0 |
| 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 | $43,055 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,127,931 |
| Accounts payable and accrued expenses | $8,013 |
| Grants payable | $0 |
| Deferred revenue | $4,500 |
| 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 | $0 |
| Total liabilities | $12,513 |
| Net assets without donor restrictions | $1,115,418 |
| 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 | $1,127,931 |
Grants Awarded
Over the last fiscal year, Bioconnect Iowa has awarded $424,996 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
NEOVAXSYN INC PURPOSE: SBIR FINANCIAL AWARD | $25,000 |
MTI BIOTECH PURPOSE: SBIR FINANCIAL AWARD | $25,000 |
PARAMETRIC STUDIO INC PURPOSE: SBIR FINANCIAL AWARD | $50,000 |
NISTRON LLC PURPOSE: SBIR FINANCIAL AWARD | $25,000 |
FRUGI BIOTECHNOLOGY INC PURPOSE: SBIR FINANCIAL AWARD | $24,996 |
ZYMOSENSE INC PURPOSE: SBIR FINANCIAL AWARD | $50,000 |