Biomedical Research And Innovation Park
- Assets
- $1.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Monroe, LA
- Founding
- Data as of
- 12/2021
- EIN
- 86-1278770
Organization Overview
Biomedical Research And Innovation Park is located in Monroe, LA. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Biomedical Research And Innovation Park 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE BIOMEDICAL RESEARCH AND INNOVATION PARK IS TO STIMULATE THE ESTABLISHMENT AND GROWTH OF BIOTECHNOLOGY START-UP COMPANIES AND OTHER TECHNOLOGY-BASED BUSINESSES. BY FULFILLING THIS MISSION, THE BIOMEDICAL RESEARCH AND INNOVATION PARK WILL CONTRIBUTE TO ADVANCES IN HEALTH CARE, RURAL HEALTH CARE, PUBLIC HEALTH, BIOTECHNOLOGY AS WELL AS JOB CREATION AND ENHANCED ECONOMIC HEALTH TO THE REGION. THE BIOMEDICAL RESEARCH AND INNOVATION PARK WILL BE AN INTEGRAL PART OF THE VISION OF ULM, VCOM AND THE ECONOMIC DEVELOPMENT VISION OF THE REGION AS WELL AS FACILITATING TECHNOLOGY TRANSFER AND COMMERCIALIZATION BY THE FACULTY AND RESEARCHERS AT AREA UNIVERSITIES AND COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, PHASE 1 OF THE STRATEGIC PLAN WAS COMPLETED THROUGH DEVELOPMENTAL CONSULTING, LLC. ARTICLES OF ORGANIZATION, BYLAWS, FILING FOR 501(C)(3) STATUS WERE ALSO COMPLETED. A BOARD OF DIRECTORS WAS ESTABLISHED AND AN AGREEMENT FOR STAFFING THROUGH THE MONROE CHAMBER WAS EXECUTED, INCLUDING JOB DESCRIPTIONS FOR THE EXECUTIVE DIRECTOR AND STAFF. THE ESTABLISHMENT OF COMMITTEE STRUCTURE AND WORKING WITH LOUISIANA ECONOMIC DEVELOPMENT FOR FUNDING FOR PURCHASING LAND, FUNDING INFRASTRUCTURE AND MARKETING THE PARK WERE AMONG THE ACCOMPLISHMENTS THROUGHOUT THE YEAR AS WELL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Holyfield Chairman | OfficerTrustee | 20 | $0 |
Raymond Armstrong Vice Chairman | OfficerTrustee | 1 | $0 |
Amanda Edge Treasurer | OfficerTrustee | 1 | $0 |
Susan Nicholson Secretary | OfficerTrustee | 15 | $0 |
Virendra Chhikara Executive Dir. | OfficerTrustee | 20 | $0 |
Ronald Berry Board Member | 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 | $1,152,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,152,000 |
| Total Program Service Revenue | $0 |
| 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 | $1,152,000 |
| 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 | $18,000 |
| Fees for services: Legal | $1,115 |
| 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 | $69,058 |
| Advertising and promotion | $0 |
| Office expenses | $886 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $6,586 |
| All other expenses | $0 |
| Total functional expenses | $95,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,056,079 |
| 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 | $1,056,079 |
| 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 | $1,056,079 |
| 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 | $1,056,079 |
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