South Dakota Biotechnology Association
- Assets
- $312.5k
- Revenue
- $247.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Sioux Falls, SD
- Founding
- 05/2006
- Data as of
- 12/2022
- EIN
- 37-1518658
Organization Overview
South Dakota Biotechnology Association is located in Sioux Falls, SD. The organization was established in 2006. 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. As of 12/2022, South Dakota Biotechnology Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota 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 12/2022, South Dakota Biotechnology Association generated $247.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $329.5k during the year ending 12/2022. While expenses have increased by 10.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A SOUTH DAKOTA ALLIANCE DEDICATED TO THE DEVELOPMENT OF BIOTECHNOLOGY INDUSTRIES THROUGH EXPANSION OF BIO-BASED RESEARCH, INVESTMENT, EDUCATION, ADVOCACY, FUNDING, EDUCATION, INFRASTRUCTURE DEVELOPMENT, AND PROMOTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDED LEADERSHIP AND VISION WITH A VOICE IN STATE AND NATIONAL FORUMS THROUGH QUARTERLY INDUSTRY UPDATES. THE ANNUAL BIOTECH SUMMIT AND ANNUAL MEETING IS HELD IN THE FALL TO PROVIDE A VENUE FOR PROFESSIONALS TO GATHER, NETWORK, AND LEARN ABOUT ENERGING TECHNOLOGIES IN THE BIOTECH INDUSTRY. BIOTECH INDUSTRY PROFESSIONALS, STUDENTS, FACULTY, VENDORS AND VENTURE CAPITALISTS ATTEND THE SUMMIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eddie Sullivan Advisor | Trustee | 2 | $0 |
Ashley Podhradsky Director | Trustee | 1 | $0 |
Dan Engegretson Director | Trustee | 1 | $0 |
Mel Ustad President | OfficerTrustee | 1 | $0 |
Steve Statz Director | Trustee | 1 | $0 |
Penny Sattgast Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $97,174 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $140,174 |
| Total Program Service Revenue | $107,061 |
| Investment income | $90 |
| 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 | $247,325 |
| 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. | $135,696 |
| 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 | $8,020 |
| Payroll taxes | $11,553 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,783 |
| Fees for services: Lobbying | $32,276 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $51,623 |
| Office expenses | $25,406 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,353 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,103 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $299 |
| Insurance | $2,442 |
| All other expenses | $53 |
| Total functional expenses | $329,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,507 |
| 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 | $17,418 |
| Net Land, buildings, and equipment | $3,001 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,686 |
| Total assets | $312,459 |
| Accounts payable and accrued expenses | $15,065 |
| 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 | $17,686 |
| Total liabilities | $32,751 |
| Net assets without donor restrictions | $279,708 |
| 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 | $312,459 |