The Biotechnology Association Of Alabama
- Assets
- $475.1k
- Revenue
- $482.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Arab, AL
- Founding
- 12/2001
- Data as of
- 12/2023
- EIN
- 63-1192160
Organization Overview
The Biotechnology Association Of Alabama, operating under the name Bio Alabama, is located in Arab, AL. The organization was established in 2001. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Bio Alabama employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bio Alabama 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, Bio Alabama generated $482.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $349.5k during the year ending 12/2023. While expenses have increased by 17.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BIO ALABAMA IS TO PROMOTE BIOTECHNOLOGY INNOVATION BY CREATING A FAVORABLE SCIENTIFIC, BUSINESS AND LEGISLATIVE ENVIRONMENT THAT WILL FACILITATE THE GROWTH OF EMERGING AND EXISTING COMPANIES WHILE ATTRACTING NEW BIOTECHNOLOGY OPPORTUNITIES TO ALABAMA AND TO INCREASE PUBLIC AWARENESS REGARDING THE POTENTIAL IMPACT ON QUALITY-OF-LIFE AND THE STATE'S ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
BIO ALABAMA IS A STATEWIDE ORGANIZATION REPRESENTING ALABAMA'S BIO RELATED INDUSTRIES, RESEARCH SCIENTISTS, CLINICIANS AND BUSINESS PROFESSIONALS WHO ARE WORKING TOGETHER TO FOSTER, DEVELOP AND SUPPORT THE LIFE SCIENCES IN ALABAMA. BIO ALABAMA HOSTS SCIENTIFIC SYMPOSIUMS, NETWORKING OPPORTUNITIES, STUDENT OUTREACH PROGRAMS, LEGISLATIVE RECEPTIONS IN SUPPORT OF OUR MEMBERS AND ALABAMA'S BIOTECHNOLOGY INDUSTRY. OUR EVENTS, PROGRAMS AND MEMBER BENEFITS ARE DESIGNED TO ENHANCE THE PROGRESS OF OUR INDUSTRY AND OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Sturdivant Board Chair | Trustee | 0.2 | $0 |
Amendi Stephens Director | Trustee | 0.2 | $0 |
Bill Dean Director | Trustee | 0.2 | $0 |
C Vivek Lal Director | Trustee | 0.2 | $0 |
Bob Shufflebarger Director | Trustee | 0.2 | $0 |
Carolyn Turner Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $128,845 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,000 |
| 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 | $303,845 |
| Total Program Service Revenue | $177,669 |
| Investment income | $965 |
| 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 | $482,794 |
| 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. | $95,265 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,640 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,853 |
| Advertising and promotion | $3,224 |
| Office expenses | $23,519 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $33,008 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $92,259 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $29 |
| Total functional expenses | $349,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,134 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,000 |
| 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 | $475,134 |
| 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 | $14,829 |
| Total liabilities | $14,829 |
| 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 | $460,305 |
| Total liabilities and net assets/fund balances | $475,134 |