North Carolina Biotechnology Center

Analysis

North Carolina Biotechnology Center is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in May 1985, 41 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, North Carolina Biotechnology Center reported income of $21.9m and spending of $18.5m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.0m to $21.9m (+46%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, North Carolina Biotechnology Center sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Simons Laufer Mathematical Sciences Institute ($21.9m), Fine Arts Museums Foundation ($22.0m) and Academy of Natural Sciences of Philadelphia ($21.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $1.0m (5.5% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $44.1m against liabilities of $1.0m, net assets of $43.1m. It reported 81 employees.