Nevada Health And Bioscience Asset Corporation
- Assets
- $200.5m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Las Vegas, NV
- Founding
- Data as of
- 12/2023
- EIN
- 84-3753195
Organization Overview
Nevada Health And Bioscience Asset Corporation is located in Las Vegas, NV. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2023, Nevada Health And Bioscience Asset Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nevada Health And Bioscience Asset Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED FOR HEALTHCARE RESEARCH, EDUCATION AND CLINICAL PROGRAMMING, AND ASSET DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEVADA HEALTH AND BIOSCIENCE ASSET CORPORATION (NHBAC) WAS INCORPORATED ON MAY 30, 2019, AND RECEIVED IRS APPROVAL FOR TAX-EXEMPT STATUS EFFECTIVE AS OF THE INCORPORATION DATE. CONSTRUCTION OF THE KIRK KERKORIAN MEDICAL EDUCATION BUILDING AT UNLV BEGAN ON OCTOBER 29, 2019, AND THE SCHOOL OPENED IN OCTOBER 2022, SIGNIFICANTLY AHEAD OF THE ORIGINAL COMPLETION DATE SET BY THE NSHE UNLV/NHBC DEVELOPMENT AGREEMENT, WHICH ANTICIPATED A 2025 FINISH. THE BUILDING CONTAINS STATE-OF-THE-ART EDUCATION SPACE, SIMULATION CENTER FACILITATES, DIGITAL MEDICAL LIBRARY, A PREMIER BEAUTIFUL FORUM FOR LARGE STUDENT AND COMMUNITY EVENTS AND MORE, EXEMPLIFYING THE MOST CURRENT ATTRIBUTES IN MEDICAL EDUCATION LEARNING TODAY.NHBC CONTINUES TO SUPPORT UNLV THROUGH (I) THE NOMINAL $1 LEASE/YEAR FOR THE COMPLETED MEDICAL EDUCATION BUILDING; (II) UNLV'S FULL USE OF FURNITURE, FIXTURES, AND EQUIPMENT FUNDED THROUGH CONTRIBUTIONS TO NHBC; (III) PROVIDING STAFFING OVERSIGHT ASSISTANCE TO UNLV FOR COSTS AND PHYSICAL MAINTENANCE OF THE MEDICAL EDUCATION BUILDING; (IV) PROVIDING MEDICAL EDUCATION BUILDING OPTIMIZATION AND ENERGY MANAGEMENT PROJECTS PAID FOR BY NHBC; AND (V) COLLABORATING WITH UNLV ON A WATER SOFTENER PROJECT FOR THE MEDICAL EDUCATION BUILDING WITH DESIGN AND CONSTRUCTION STARTING IN 2024. NBHC WORKED WITH THE EYE CENTER AND UNLV TO START AN OPHTHALMOLOGY RESIDENCY PROGRAM THAT ULTIMATELY WILL BE ABLE TO SUPPORT FELLOWSHIP PROGRAMS. NHBC IS ALSO WORKING WITH UNLV AND OTHER PARTNERS TO PLAN AND DEVELOP OTHER RESIDENCY PROGRAMS INCLUDING THE CHILDREN'S HEART CENTER PEDIATRIC HEART CARDIOLOGISTS TO BEGIN A FELLOWSHIP PROGRAM IN PEDIATRIC CARDIOLOGY. IT WOULD BECOME THE FIRST TYPE OF FELLOWSHIP OFFERED FOR PEDIATRICIANS IN THE STATE OF NEVADA.IN AUGUST 2022, THE NEVADA INTERIM FINANCE COMMITTEE APPROVED STATE ARPA FUNDS TO NHBC FOR A BIOMEDICAL RESEARCH FACILITY. NHBC AND UNLV COLLABORATED ON THE REQUEST AND LAND STRUCTURE THAT RESULTED IN A CAPITAL PROJECT NAMED THE SOUTHERN NEVADA PUBLIC ACADEMIC HEALTH LABORATORY (LAB). THE LAB IS ESTIMATED TO BE 34,000 GROSS SQUARE FEET HOUSING CLINICAL PATHOLOGY LABS AND THE FIRST NEVADA-OPERATED BLOOD BANK. THE LAB WILL SUPPORT UNLV'S FUTURE PATHOLOGY RESIDENCY AND FELLOWSHIP PROGRAM. THE BUILDING COMPLETION IS PLANNED FOR DECEMBER 2026.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kris Engelstad Mcgarry Secretary | OfficerTrustee | 0.5 | $0 |
Lindy Schumacher Treasurer | OfficerTrustee | 0.5 | $0 |
John R Bailey Director | Trustee | 0.1 | $0 |
Marykaye Cashman Director | Trustee | 0.1 | $0 |
Marianne Johnson Director | Trustee | 0.1 | $0 |
Andrew Artusa Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ecg Management Consultants Management Consultants | 12/30/23 | $566,240 |
Fabian Vancott Legal | 12/30/23 | $217,233 |
Nevada Vision Foundation Academis & Medical Support | 12/30/23 | $250,000 |
Blf Atkinson Medical Consultant | 12/30/23 | $212,503 |
Crowe Llp Accountants - Audit | 12/30/23 | $176,072 |
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 | $11,083,348 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,083,348 |
| Total Program Service Revenue | $0 |
| Investment income | $1,322,858 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $207,251 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,613,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $270,400 |
| 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. | $267,800 |
| Compensation of current officers, directors, key employees. | $68,592 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,786 |
| Pension plan accruals and contributions | $9,048 |
| Other employee benefits | $20,566 |
| Payroll taxes | $31,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $232,280 |
| Fees for services: Accounting | $162,028 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $346,367 |
| Advertising and promotion | $5,470 |
| Office expenses | $22,853 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,455 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,390 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,639,071 |
| Insurance | $242,802 |
| All other expenses | $3,884 |
| Total functional expenses | $4,551,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $961,146 |
| Savings and temporary cash investments | $66,993,275 |
| Pledges and grants receivable | $420,730 |
| Accounts receivable, net | $65,030 |
| 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 | $65,558 |
| Net Land, buildings, and equipment | $131,947,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $200,453,008 |
| Accounts payable and accrued expenses | $406,155 |
| Grants payable | $0 |
| Deferred revenue | $35,000,000 |
| 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 | $55,905,892 |
| Total liabilities | $91,312,047 |
| Net assets without donor restrictions | $98,015,769 |
| Net assets with donor restrictions | $11,125,192 |
| 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 | $200,453,008 |
Grants Awarded
Over the last fiscal year, Nevada Health And Bioscience Asset Corporation has awarded $270,400 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE BEHAVIORAL HEALTH ASSOCIATION OF NEVADA PURPOSE: General Charitable Purposes | $20,000 |
NEVADA VISION FOUNDATION PURPOSE: General Charitable Purposes | $250,400 |