BRF
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
BRF does not meet the following 2 Standards for Charity Accountability:
Standard 9 (Fund Raising Expense Ratio)
Spending should be no more than 35% of related contributions on fund raising. Related contributions include donations, legacies, and other gifts received as a result of fund raising efforts.
BRF does not meet this standard because:
Standard 18 (Privacy for Written Appeals & Internet Privacy)
Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.
BRF does not meet this standard because:
At the time of initial assessment, the Foundation did not feature on its website any information concerning its privacy policies.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 1, 3, 4, 5, 6, 7, 13, 14, 15, 19
BRF meets the remaining 8 Standards for Charity Accountability.
Stated Purpose:
Diversify and grow our region’s economy.
Year, State Incorporated:
1986, LA
Also Known As:
Biomedical Research Foundation of Northwest Louisiana
BRF was formed in 1986 as the result of an economic development study commissioned by the Shreveport Chamber of Commerce following Shreveport’s economic downturn in the 1980s. Originally known as the Biomedical Research Foundation of Northwest Louisiana, BRF was created as an economic development organization with the mission to diversify and grow the region’s economy.
BRF’s initial efforts focused on developing the biomedical and life sciences industries, including support of LSU Health Sciences Center Shreveport.
Beginning in 2013, BRF’s economic development activities began to expand into initiatives focusing on entrepreneurship, angel investing, digital media, business recruitment and more. Across its various initiatives, BRF’s economic development focus is on starting new businesses, recruiting new businesses and retaining current businesses.
For the year ended September 30, 2023, BRF's program expenses were:
| Real Estate Management and Development | $7,119,229 |
| Center for Molecular Imaging and Therapy | $5,244,530 |
| Digital Media Institute | $1,439,447 |
| Entrepreneurial Accelerator Program | $1,273,109 |
| Shreveport Next | $443,369 |
| Office of Research, Development and Administration | $160,167 |
| Other Sponsored Projects | $136,979 |
| Total Program Expenses | $15,816,830 |
Chief Executive
John George
Chair of the Board
Mr. Graham Walker
Chair's Profession / Business Affiliation
Board Size
Not disclosed
Paid Staff Size
77
Method(s) Used:
Internet, Planned giving arrangements
Tax status information not available.
The following information is based on BRF's audited financial statements - consolidated for the year ended September 30, 2023.
Source of Funds
| Rental revenues | $15,078,127 |
| Patient service revenue | $2,981,830 |
| Local government operating revenue | $2,863,246 |
| Interest revenues | $1,096,234 |
| Support - philanthropic | $720,145 |
| Tuition revenues | $555,624 |
| Radiopharmaceutical sales | $535,570 |
| Other revenues | $451,966 |
| Government grants and contracts | $179,967 |
| Investment revenues or losses | $-1,407,786 |
| Total Income | $23,054,923 |
Programs: 76% Fundraising: 2% Administrative: 23%
| Total Income | $23,054,923 |
| Total expenses: | $20,939,244 |
| Program expenses | $15,816,830 |
| Fundraising expenses | $328,907 |
| Administrative expenses | $4,793,507 |
| Other expenses | $0 |
| Income in Excess of Expenses | $2,115,679 |
| Beginning Net Assets | $60,529,789 |
| Other Changes In Net Assets | $-40,831 |
| Ending Net Assets | $62,604,637 |
| Total Liabilities | $47,110,190 |
| Total Assets | $109,714,827 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Serving Northeast and Central Louisiana and the Ark-La-Tex