Tennessee Biotechnology Association
- Assets
- $165.4k
- Revenue
- $189.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 62-1776913
Organization Overview
Tennessee Biotechnology Association is located in Nashville, TN. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Biotechnology Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Tennessee Biotechnology Association generated $189.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $136.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE LIFE SCIENCE INDUSTRY THROUGH ADVOCACY & ALIGNMENT WITH ECONOMIC & WORKFORCE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REPRESENTATIVES ATTEND LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL CONFERENCES, SEMINARS AND MEETINGS TO DISCUSS POLICY ISSUES AND OPPORTUNITIES COMMON TO THE BIOTECHNOLOGY AND MEDTECH INDUSTRY.
LIFE SCIENCE TENNESSEE HAS A MISSION TO EDUCATE AND ADVOCATE ON BEHALF OF THE INDUSTRY. ONCE A YEAR, LIFE SCIENCE TENESSEE MEMBERS GATHER ON A SINGLE DAY IN NASHVILLE FOR OUR ANNUAL "DAY ON THE HILL" WHERE MEMBERS MEET ONE-ON-ONE IN THE OFFICES OF STATE LEGISLATORS DISCUSSING THE INDUSTRY, THE OPPORTUNITIES FOR GROWTH OF THE INDUSTRY IN TENNESSEE AS WELL AS POLICY ISSUES OR OPPORTUNITIES THAT ARE IMPORTANT TO INDUSTRY GROWTH. FOR THIS DAY, MATERIALS ARE PRINTED THAT OUTLINE THE LIFE SCIENCE INDUSTRY IN TENNESSEE AND A RECEPTION IS HELD WHERE ALL LEGISLATORS ARE INVITED. IN ADDITION LIFE SCIENCE OF TENNESSEE SPONSORS A A FEDERAL "DAY ON THE HILL".
THE ORGANIZATION SPONSORS TWO OR MORE MEMBERSHIP MEETINGS ANNUALLY AT WHICH MEMBERS DISCUSS ISSUES AND OPPORTUNITIES COMMON TO THE BIOTECHNOLOGY AND MEDTECH INDUSTRY.
THE ORGANIZATION PROVIDES MEMBERS WITH INFORMATION RELEVANT TO THE INDUSTRY THROUGH NEWSLETTERS, ETC. APPROXIMATELY 50 NEWSLETTERS ARE PUBLISHED ANNUALLY. IN ADDITION, LIFE SCIENCE TENNESSEE, INC. OPERATES A MENTOR NETWORK PROGRAM AND LOCAL AND REGIONAL ACADEMIC ALLIANCE EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Perdue Chairman | OfficerTrustee | 5 | $0 |
Jenn Adams Vice Chairman | OfficerTrustee | 5 | $0 |
Kayla Graff Secretary | OfficerTrustee | 5 | $0 |
Hunter Rost Treasurer | OfficerTrustee | 5 | $0 |
Tom Ballard Economic Development Chairman | Trustee | 1 | $0 |
Kelly Mullins Advocacy Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,000 |
| Total Program Service Revenue | $117,997 |
| Investment income | $0 |
| 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 | $189,426 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $75,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $30,340 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $484 |
| Office expenses | $866 |
| Information technology | $1,278 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,080 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $459 |
| All other expenses | $0 |
| Total functional expenses | $136,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,365 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| 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 | $165,365 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $165,365 |
| Total liabilities and net assets/fund balances | $165,365 |