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2031 KINGS HIGHWAY SHREVEPORT, LA 71103 318-716-4190 BRFLA.ORG 2017 ANNUAL REPORT

2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

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Page 1: 2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

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Page 2: 2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

02BUILDING OUR REGION’S FUTURE

BRF CHAIRMAN & PRESIDENT MESSAGE

HONORING HORACE R. LADYMON

John F. George Jr., M.D. BRF President and CEO

Malcolm S. Murchison BRF Board of Directors Chairman

As you will read in this Annual Report, BRF has been busy this year, delivering on its mission to diversify and grow our region’s economy to create a better future for North Louisiana.

Together with our board of 40 dedicated volunteers, administrators, directors and over 3,300 employees, we have grown our employment base, created local jobs, strengthened this region’s entrepreneurship ecosystem, and expanded healthcare offerings and access, to name a few accomplishments.

These accomplishments would not be possible without each of you, our supporters, volunteers and talented staff members. Thank you for your dedication to each achievable goal that sets the stage for continued progress in coming generations.

Last year, we announced our official rebranding as BRF, to mark our evolution as an enterprise to include an expanded and diversified portfolio of high-growth initiatives. This year and for years to come, our mission to diversify and grow our region’s economy will guide us as we grow into our tagline, “Building our Region’s Future.”

Malcolm S. Murchison BRF Board of Directors Chairman

John F. George Jr., M.D. BRF President and CEO

01 BUILDING OUR REGION’S FUTURE

MISSION Diversify and grow our region’s economy.

VISION Operate as a catalyst to expand and develop research, entrepreneurship and high-growth businesses in our region.

VALUES Innovation. Collaboration. Problem Solving. Bold Action.

OUR UNIQUE VALUEBRF delivers innovative, successful and high-growth economic development initiatives by retaining professionals with a broad range of core skills, acquiring project-specific expertise and talent, and nurturing and leveraging its wide array of political and community connections.

A study commissioned by Shreveport community leaders in 1984 sought to determine how “to develop the economy of the Shreveport area to its maximum potential.” Study results included a recommendation to form an organization whose efforts would expand the research and innovation base in North Louisiana to grow the area’s economy.

A $60,000 grant helped to form the Biomedical Research Foundation in 1986.

Horace Ladymon, Chairman of the Board of Beall-Ladymon Corporation with General Offices located in Shreveport, agreed to serve as the Foundation’s first volunteer Chairman of the Board. Under Mr. Ladymon’s leadership, the

Foundation formed a board, filed articles of incorporation, initiated the process of hiring an executive director, and began the significant task of transforming an idea into a working entity.

Mr. Ladymon’s business acumen, belief in the Foundation’s mission, and commitment to the increased well-being of Shreveport and all of North Louisiana established a firm footing for the Foundation’s operations.

The BRF Board recognizes the importance of Mr. Ladymon’s efforts and is pleased to recognize him in perpetuity as a BRF Honorary Board Member.

Horace R. Ladymon First BRF Chairman of the Board, 1986

BRF TODAY

Page 3: 2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

VITAL TO NORTH LOUISIANA CITIZENS AND ECONOMY

UNIVERSITY HEALTH

04BUILDING OUR REGION’S FUTURE

University Health System (UHS) began its year with the announcement of the system’s new Chief Executive Officer, Daniel J. Snyder, who replaced interim CEO Richard Cascio. With three years of transition from a public to a private health system behind it, UHS is moving forward with identified strategic objectives to accomplish over the next five years.

As UHS looks ahead to its long-term goals, it continues to expand service lines, add programs, and increase access to specialized medicine as well as leading technology and treatments offered in partnership with LSU Health Shreveport.

In 2017, the community and state learned exactly how vital this

regional health system is to our economy and to the population it exists to serve. Noted economist Dr. Loren Scott’s UHS economic impact study revealed the hospital system was responsible for a $900 million positive boost to the State’s budget since privatization, and was responsible for a ripple effect that included $1 billion in new local sales, thousands of jobs, and millions in household earnings and local government treasuries.

This impact is also measured in the significant improvements made to patient care in North Louisiana that drastically reduced wait times, expanded lifesaving services, and efficiency gains that created a much-improved patient experience and better patient outcomes.

03 BUILDING OUR REGION’S FUTURE

In conjunction with leadership of LSU Health Shreveport and University Health System’s new CEO, Daniel J. Snyder, UHS developed the Enterprise Strategy Map (ESM) to provide strategic direction and goals for the system over the next five years; and developed a balanced score card that establishes annual goals for the system in the areas of People, Quality, Service, Finance and Growth.

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Received designation by the Louisiana Department of Health as a “The Gift” Birthing Facility. The Gift designation is an evidence-based program signifying the University Health System’s maternity program supports increased breast-feeding rates and continuous improvement of service quality to enhance patient-centered care.

3Initiated new, world’s smallest, wireless pacemaker technology with the first successful patient operation in June 2017. 4Completed third-party economic impact study, which found University Health System is the largest of all the State’s private partner hospitals, contributing a positive boost of $900 million to the State as well as locally producing $1 billion in new sales, a $400 million boost in household earnings, an average of 2,818 jobs per year, and $18 million to government treasuries from tax collections in the region.

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Performed facility upgrades, renovations, and program and service line expansions related to patient care, including: 2 • Remodeled existing space to

create comprehensive adult and pediatric Infusion Center with expanded hours and days for pediatric patients.

• Installation of Pharmogistics™ medication carousels to improve inventory control, enhance patient safety, and lower cost of providing medications to patients.

• Opened retail pharmacy location in the main hospital to serve employees and patients.

• Created a Surgical Oncology unit with 14 private rooms.

• Invested in new equipment and technology to expand services in Neonatal ICU and Urology at University Health Conway.

• Remodeled and expanded Shreveport’s Gastrointestinal Clinic to accommodate more patients and shorten wait times.

• Expanded OR capacity by creating a new suite in the Cancer Center and main Shreveport hospital.

• Expanded Blood and Marrow Transplant program with opening of a new waiting room, renovation of the family room and reinitiation of Photosynthesis Therapy.

• Initiated Heart Failure Clinic, including dedicated treatment protocols and remote monitoring capabilities.

• Completed master facilities plan for future growth at University Health Conway.

• Developed Rural Health Network out of University Health Conway for the 12 parishes in Northeast Louisiana to provide better access for their patients and increase educational experiences for their staff.

TOP 5 ACCOMPLISHMENTS

University Health System staff in the recently renovated Operating Room suite at University Health Shreveport.

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05 BUILDING OUR REGION’S FUTURE

INTERTECH SCIENCE PARKRECLAIMING BROWNFIELDS, SUPPORTING NEW GROWTH & INNOVATION

06BUILDING OUR REGION’S FUTURE

BRF’s InterTech Science Park, which spans 800 acres in a former industrial area of Shreveport, is home to high-tech companies, highly specialized laboratories, healthcare facilities, startups and more.

Thirty tenants, who represent a diverse range of initiatives related to technology, are supported in part by BRF. The Science Park’s footprint in the Kings Highway/Mansfield Road area of Shreveport expanded again this year as BRF took on the former Sklar & Phillips Oil Company’s 1.85-acre property near BRF’s InterTech 1 headquarters building.

Once home to a prominent oil and gas business, the Sklar & Phillips property was donated to the LSU Health Sciences Foundation and then purchased by BRF for future use in economic development and

technology initiatives. BRF worked with the Louisiana Department of Environmental Quality to remediate the Brownfields site, reclaiming more abandoned industrial square footage in a mission to transform the area into a corridor of growth in technology, research and healthcare.

Other moves within the InterTech Science Park included the repurposing of the former Moonbot Studios space to become the base for IT company Future State.

More than 75 of Future State’s 119 employees are based out of the repurposed space, and even more employees work out of the 11,500-square-foot suite part-time.

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Acquired former Sklar & Phillips Oil Company property at the northeast corner of Kings Highway and Mansfield Road, and worked with environmental consultants and the Louisiana Department of Environmental Quality to remove contaminated soil to remediate the property.

Operated and managed 24 University Health Shreveport facilities with 1,462,341 square feet and the University Health Conway facilities with 383,032 square feet.

Transitioned more than 75 employees into InterTech 1 to host Future State’s IT operations, repurposing the 11,500 square feet on the first floor of the facility, which formerly housed Moonbot Studios.

Provided support services for 30 InterTech Science Park tenants who employ almost 3,000 individuals with a total annual payroll of $156,412,000. Other BRF-managed facilities include University Health Conway with 713 employees and Southern Isotopes Baton Rouge with four employees.

Operated and maintained 14 BRF-owned facilities with 357,741 square feet, which are 89 percent occupied.

TOP 5 ACCOMPLISHMENTS

BRF headquarters, InterTech 1 Facility

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EAP WALL OF ENTREPRENEURIAL

ACHIEVEMENT CLASS OF 2016 – 2017

DIVERSIFYING & EQUIPPING OUR ENTREPRENEURSHIP ECOSYSTEM

The Entrepreneurial Accelerator Program (EAP) celebrated three years of launching local startups at its August anniversary event, unveiling 11 new companies to join the Wall of Entrepreneurial Achievement at EAP headquarters.

In three years, the EAP team has screened more than 440 companies and ideas in its mission to grow an entrepreneurship ecosystem and launch successful startups in Northwest Louisiana.

The companies featured on the EAP wall represent marked progress in that mission. Growing the number of sustainable and well-paying jobs, expanding the area’s tax base, and bringing new capital into Caddo Parish are key to diversifying and growing this region’s economy.

Partnering with the Caddo Parish Commission and the City of Shreveport, EAP has been a driving force behind many of the economic projects that have been announced in Northwest Louisiana in 2016 and 2017.

1. CHeKT A single-platform security company combining cloud-based software, intelligent camera technology and the latest hardware integration platforms to address the security industry’s most common and costly problems

2. Cotton Street Farms Shreveport’s first 100-percent organic, hydroponic farming company offering locally grown fresh herbs and vegetables delivered directly to consumers’ homes

3. Crazy Horse Coal Innovative coal and mineral mining technology company using proprietary drilling techniques and leading-edge drilling tools

4. Gorilla Tree Film Co. Northwest Louisiana-based turnkey film studio operating to produce and distribute feature films, with an emphasis on selling to niche markets and providing rental and production services

5. G-Rock Indoor rock climbing facility offering memberships, lessons, equipment and event space in Shreveport

6. Lunisolar Creative Productions Children’s entertainment media company transforming the family entertainment and educational landscape in Northwest Louisiana, offering educational children’s material that appeals to both parents and children of the millennial generation and beyond

7. PA Productionz Shreveport-based professional service film company creating and producing quality film and TV content that is impactful and addresses relevant issues important to women, young adults and the African-American community

8. Pet Education Project (PEP!) An educational initiative to inspire children to properly care for their pets and other animals through responsible pet ownership

9. Planet Aqua Group Aquatic exhibit and entertainment company with the pilot of its chain of LEED-certified aquariums located in Shreveport

10. Red River Range State-of-the-art, indoor shooting and training facility with outdoor archery range and fishing pond located in Shreveport

11. Segue Science Labs Drug discovery and development contract research facility with public/private access to high-tech laboratory space, equipment and expertise

EAP

07 BUILDING OUR REGION’S FUTURE 08BUILDING OUR REGION’S FUTURE

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Screened more than 440 companies and ideas to discuss business plans, growth potential and interest in launching in Northwest Louisiana.

Provided services including market analysis, business plan development, financial analysis and modeling, and more to 185 startup companies in Northwest Louisiana. EAP’s current portfolio is made up of 43 companies, 24 of which have successfully launched and are on the EAP Wall of Entrepreneurial Achievement.

Aided in generating 103 jobs (90 in Caddo Parish) associated with launched EAP startup companies.

Facilitated more than $49 million in capital generated by EAP startups.

Successfully facilitated a public-private partnership between the City of Shreveport and Planet Aqua Group to launch Shreveport’s first aquarium and sustainable seafood restaurant.

TOP 5 ACCOMPLISHMENTS

Top: EAP portfolio company entrepreneurs representing 24 EAP Wall of Entrepreneurial Achievement companies are

pictured with City of Shreveport, Caddo Parish Commission and BRF officials at the EAP third anniversary celebration.

Middle: City and parish officials along with BRF and Entrepreneurial Accelerator Program (EAP) leaders

participate in the annual EAP cake cutting at the program’s third anniversary celebration.

Right: Jon Whitehead, Director of Business Development for EAP portfolio company Planet Aqua Group, speaks

at the groundbreaking for the Shreveport Aquarium.

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ORDACONNECTING INDUSTRY, INVESTIGATORS & INSTITUTIONS

CMITLEADING IN PET IMAGING, RESEARCH & RADIOPHARMACEUTICALS

The Office for Research Development and Administration (ORDA) has laid a foundation for advancing clinical and translational research in North Louisiana.

With the right personnel and support for investigators, sponsors and physicians in place, ORDA has successfully executed a number of local research initiatives while providing guidance and administrative assistance for ongoing trials involving University Health Shreveport, LSU Health Shreveport and sponsors.

One of ORDA’s recent initiatives, the BRF Seed Funding Program (BRFSFP), funded three local researchers’ proof-of-concept projects in 2017. More projects are to be funded in the coming year.

ORDA continues to play a significant role in establishing research collaborations with community physicians, startup companies, academic medical centers and research institutions.

The Center for Molecular Imaging and Therapy (CMIT) is comprised of a state-of-the-art Positron Emission Tomography (PET) Imaging Center, molecular imaging research facilities, and radiopharmaceutical production and distribution programs.

CMIT is this region’s connection to an international network of leading investigators, institutions and technology that seeks to use PET imaging in the diagnosis and treatment of today’s most-prevalent diseases.

CMIT made headlines in research and mainstream publications and television media this year thanks to the CMIT team’s focused research in the molecular imaging field that shows promise for better and earlier detection of deadly melanoma.

The CMIT team continues to serve an increasing number of patients with its PET imaging services while participating in clinical trials,

discovering new and effective techniques to target disease, and manufacturing and providing its clients with novel PET radiopharmaceuticals.

10BUILDING OUR REGION’S FUTURE09 BUILDING OUR REGION’S FUTURE

Completed a three-year research project entailing a clinical trial on prostate cancer.

Received accreditation renewal for the PET Imaging Center from the Intersocietal Accreditation Commission (IAC).

Applied and received accreditation for the PET Imaging Center from the American College of Radiology (ACR).

Significantly increased volumes for clinical PET scans year-over-year while improving clinical scheduling operations for patients, and increased production capacity to distribute CMIT’s locally manufactured research radiopharmaceutical doses at 150 percent of last year’s volume.

Initiated a new clinical trial focused on PET scanning of Alzheimer’s Disease patients under the multicenter IDEAS clinical trial led by the Alzheimer’s Association and the Society of Nuclear Medicine, which aims to recruit more than 18,000 patients for PET imaging nationwide.

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TOP 5 ACCOMPLISHMENTS

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Continued to support University Health Shreveport research operations and foster collaborations with LSU Health Shreveport in clinical research.

Developed and promoted relationships with pharmaceutical companies and physician practices in North Louisiana.

Selected and funded at $50,000 three out of 15 proof-of-concept proposals submitted by investigators at LSU Health Shreveport, Louisiana Tech University and University of Louisiana at Monroe through ORDA’s seed funding program in the areas of Neuroscience, Neuroengineering and Aging; and launched ORDA’s second cycle of the BRFSFP in June 2017 to fund more projects in the areas of Neuroscience, Neuroengineering, Neuroinformatics and Aging.

Co-sponsored, facilitated and sponsored area research conferences, symposia and workshops, including the Industry Day 2016 conference hosted by the Center for Cardiovascular Diseases and Sciences of LSU Health Sciences Center Shreveport and the Center for Biomedical Engineering and Rehabilitation Science of Louisiana Tech University; the 32nd Southern Biomedical Engineering national conference in Shreveport, the annual Neuroscience Research Day of the Shreveport chapter of the Society for Neuroscience held at LSU Health Sciences Center in Shreveport; the first Stroke Update Symposium to be held at LSU Health Shreveport; and the Clinical Trials Research Billing Compliance workshop for University Health, BRF and LSU Health Shreveport research staff conducted by national experts.

Assisted an Entrepreneurial Accelerator Program (EAP) startup company in conducting a clinical trial in collaboration with LSU Health Shreveport for testing and validation of their product.

TOP 5 ACCOMPLISHMENTS

LSU Health Shreveport faculty Hyung Nam, Ph.D., right, is a recipient of a grant through ORDA’s Seed Funding Program.

Dr. Rachid Nazih, CMIT site manager, overseeing daily operations in staff, production and equipment maintenance.

Page 7: 2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

12BUILDING OUR REGION’S FUTURE11 BUILDING OUR REGION’S FUTURE

NLAF INVESTING IN NORTH LOUISIANA’S ECONOMIC FUTURE

FUTURE STATE MODERNIZING HEALTHCARE SYSTEMS

The New Louisiana Angel Fund 1 (NLAF 1), in the amount of $2.675 million, is nearing a close as funds are almost fully committed. Since January 2015, 53 accredited angel investors in North Louisiana have taken part in due diligence, pitch presentations and voting to dedicate this fund to 11 North Louisiana-based entrepreneurs and startups.

BRF founded NLAF 1 to fuel the startup ecosystem that is developing locally, and as a means to diversify the region’s economy while providing investors a potential Return on Investment (ROI) and high-growth startup companies the funding needed to launch locally.

Investors whose dollars could have gone to other communities and into other opportunities stayed in North Louisiana and, in some cases, drew more investment in startups from other regions to contribute to the local economy.

With NLAF 1’s investment rounds coming to a close, fundraising for NLAF 2 is in full swing.

Future State is BRF’s newest initiative, formed in 2016.

Along with serving all of University Health Shreveport and Monroe’s IT and Electronic Medical Record (EMR) needs, Future State was set up to seek new business relationships within the healthcare community. Future State supports its mission by providing access to its EPIC Healthcare Platform and expertise to small hospitals, clinics and physician practices, advancing healthcare technology in the

community and the state while contributing to job growth in North Louisiana.

Future State offers its services through its brand, EMR Everywhere, with a goal to provide healthcare entities with an affordable, technologically advanced electronic healthcare system.

Since its recent formation, Future State has been positioning itself to offer its platform to the entire community of North Louisiana and beyond.

11 BUILDING OUR REGION’S FUTURE

Dr. Jim Cardelli, left, of NLAF 1 portfolio company Segue Therapeutics, with Dr. Alana Gray, co-founder of Segue Science Management.

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Committed $2.2 million of the original NLAF 1 $2.675 million raised from 53 accredited investors for investment in North Louisiana-based, high-growth startups.

Since inception, invested in 11 diverse startup companies headquartered in North Louisiana.

NLAF 1 startups created 72 new jobs.

NLAF 1 startups generated $32.9 million in new capital.

Launched NLAF 2 fundraising to secure up to $5 million to be invested in more North Louisiana-based, high-growth startups.

TOP 5 ACCOMPLISHMENTS

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Grew local technology workforce over 10 percent, with 119 jobs and growing.

Increased data security and level of service for University Health System.

Signed new customer in the micro-hospital business, for multiple sites; and generated 20 leads for prospects, including small physician practices, multi-specialty clinics and community hospitals.

Moved all data to the only secure Tier 3 Data Center in the state located in downtown Shreveport; and opened headquarters and operations at BRF’s InterTech 1 facility.

Lowered costs in comparison to legacy state systems and services.

TOP 5 ACCOMPLISHMENTS

Page 8: 2017 ANNUAL REPORT - brfla.org · PDF file17/1/2018 · 2031 3KING0SNSHI3GKWANY0R0SH 20 BRF CHAIRMAN & PRESIDENT MESSAGE HONORING HORACE R. LADYMON John F. George Jr., M.D. BRF President

DMII A SIGNIFICANT STEP FOR DIGITAL MEDIA EDUCATION IN NORTHWEST LOUISIANA

14BUILDING OUR REGION’S FUTURE

The Digital Media Institute at InterTech (DMII) achieved a crucial milestone this year for its future growth when it received accreditation.

To become an accredited institution is to become a major player in the world of higher education. With accreditation comes more opportunities not only for DMII but also for its potential students who now have access to many federal student aid programs that can be used for highly specialized, accelerated education in digital media.

In 2017, DMII also became authorized to accept GI Bill benefits for students. Now, more than ever, a leading-edge digital media education is within reach regionally.

*7840 Roswell Road, Building 300, Suite 325, Atlanta, GA 30350, Telephone: 770-396-3898, FAX: 770-396-3790, www.council.org.

13 BUILDING OUR REGION’S FUTURE

Became nationally accredited by the commission of the Council on Occupational Education*, placing DMII on the national stage as a high-quality school that exceeds national standards and has accountability for operations and student outcomes.

Became fully authorized to accept Title IV Federal Financial Student Aid by the U.S. Department of Education, allowing students to complete the FAFSA and use Pell grants and federal direct loans to help pay for their tuition.

Became authorized to accept the GI Bill, allowing veterans and their families the ability to use their benefits.

Participated in regional and national events, including Dallas Fan Expo, Geek’d Con Shreveport, SBC Animae Fest, COE Accreditation Conference, Federal Student Aid training, the National Game Developers Conference, and the National SIGGRAPH Conference.

Expanded community outreach through two separate week-long summer camps at maximum capacity and through involvement in highly visible community projects spanning the entertainment, attractions, architecture and cyber security industries, as well as several industrial companies.

TOP 5 ACCOMPLISHMENTS

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In reflecting back on 20 years of the Science and Medicine Academic Research Training (SMART) Program, the program’s coordinators received testimonials from past students who went on to pursue education in the sciences and achieved careers in related fields.

With the foundation of real laboratory experience and learning, SMART graduates have attended such prestigious institutions as Yale and Princeton, the Massachusetts Institute of Technology and, locally, Louisiana State University Shreveport.

SMART graduates have established

careers in the fields of biomedical engineering, pediatrics, biology, medicine and more. SMART welcomed its twenty-first class in April.

Another of BRF’s EdVentures initiatives, Biotech Magnet Academy, grew enrollment while bucking trends for minorities in science.

Half of the academy’s students in 2016–2017 were African-American females, an impressive metric considering current studies which show that the demographic makes up just two percent of the science and engineering employment base.

EdVentures’ SMART Program held its annual graduation luncheon where the program marked its 200th student to have gone through SMART, an 11-month intensive research-immersion training program in which students are paired with LSU Health scientists during their senior year in high school.

Biotech Magnet Academy students earned $746,418 in scholarships to pursue higher education under the direction of program administrators.

TOP 5 ACCOMPLISHMENTS

Although over 70 percent of Biotech Magnet Academy students are first-generation college bound, 97 percent of its 2017 graduates are attending a higher-education institution.

Biotech Magnet Academy students attended a BRF-sponsored field trip to see the biographical drama “Hidden Figures,” which highlighted African-American women’s roles in science. Biotech Magnet Academy’s enrollment for 2016 – 2017 was 50 percent African-American females.

The FRC Robotics Team at Southwood High School competed in qualifying rounds at the FIRST (For Inspiration and Recognition of Science and Technology) Bayou Regional Tournament.

SMART & EDVENTURESBUILDING A FOUNDATION FOR THE SCIENCES

A Digital Media Institute at InterTech (DMII) student works on a project in the

institute’s Animation, Visual Effects and Interactive

Content program.

Top: SMART Program’s graduating class of 2017

Bottom: Alicia Smith, SMART Program graduate

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16BUILDING OUR REGION’S FUTURE15 BUILDING OUR REGION’S FUTURE

ASSETS FYE 2016 FYE 2015

Cash and Other Current Assets 373,859,580 303,807,114

Plant Assets, Net and Long-Term Investments 85,101,302 78,402,219

TOTAL ASSETS $458,960,882 $382,209,333

LIABILITIES

Accounts Payable and Other Current Liabilities 170,109,107 130,165,772

Notes Payable 12,483,213 11,031,616

Deferred Revenue 203,340,235 181,824,688

TOTAL LIABILITIES 385,932,555 323,022,076

NET ASSETS

Unrestricted 70,697,126 57,013,940

Temporarily and Permanently Restricted 2,331,201 2,173,317

TOTAL NET ASSETS 73,028,327 59,187,257

TOTAL LIABILITIES AND NET ASSETS $458,960,882 $382,209,333

The 2016 and 2015 financial statements are presented in accordance with Generally Accepted Accounting Principles (GAAP) and were audited by Postlethwaite & Netterville, APAC.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AT SEPTEMBER 30, 2016 AND 2015

SUPPORT AND REVENUE FYE 2016 FYE 2015

Philanthropic Support 847,663 650,110

Grants, Rental, Operation and Other Revenue 601,339,179 563,024,338

TOTAL SUPPORT AND REVENUE $602,186,842 $563,374,448

PROGRAM SERVICES

University Health and Related 570,538,330 533,435,679

Other 13,791,705 13,856,483

SUPPORT SERVICES 4,081,558 3,233,334

TOTAL EXPENSES 588,411,591 550,525,496

Excess of Revenues and Support over Expenses 13,775,251 13,148,952

Changes in Value of Derivative 65,819 (160,673)

CHANGE IN NET ASSETS 13,841,070 12,988,279

NET ASSETS, BEGINNING OF YEAR 59,187,257 46,198,978

NET ASSETS, END OF YEAR $73,028,327 $59,187,257

CONSOLIDATED STATEMENTS OF ACTIVITY FOR THE YEARS ENDED SEPTEMBER 30, 2016 AND 2015

EXPENDITURES(Excluding University Health)

FINANCIALS FINANCIALS

EXPENSES

LIABILITIES AND NET ASSETS

THE FOUNDATION DOLLAR

PROGRAM SERVICES(Excluding University Health)

THE FOUNDATION DOLLAR

77%Program Services 7.3% DMII

6.2% EAP 3.4% ORDA

40.2% CMIT42%

InterTech

0.9% Other

23%Administrative

Overhead

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18BUILDING OUR REGION’S FUTURE17 BUILDING OUR REGION’S FUTURE

2017 BRF BOARD OFFICERSMalcolm S. Murchison Chairman of the Board

Arthur Thompson Vice Chairman

Lennis S. Elston Treasurer

Willie C. White III Secretary

2017 BRF BOARD OF DIRECTORSArlena Acree

Kristen Brown

Lennis S. Elston

John F. George Jr.

John B. Hussey

Curtis R. Joseph Jr.

Bernard Kimble

Billy Montgomery

Bonnie Moore

Terry E. Moore

Malcolm S. Murchison

Linda C. Sell

Arthur Thompson

W. Juan Watkins

Willie C. White III

HONORARY MEMBERSSenator J. Bennett Johnston Jr.

Horace R. Ladymon

Virginia K. Shehee Chair Emerita, deceased

2017 BRF MANAGEMENTJohn F. George Jr. President and CEO

James D. Dean Executive Vice President and COO/CFO

Jay D. Meyers Vice President of External Affairs

Vassia Roulia Vice President for Research Development and Administration

Hilary Aldama Wooley Corporate Counsel

Daniel J. Snyder Chief Executive Officer University Health System

Marcus Hobgood Chief Executive Officer Future State

Pradeep Garg Executive Director, Center for Molecular Imaging and Therapy

John J. Miralles Executive Director, Digital Media Institute at InterTech

David R. Smith Executive Director Entrepreneurial Accelerator Program

2017 UNIVERSITY HEALTH SYSTEM BOARD OF MANAGERSStephen F. Skrivanos Chairman

Don Jones Vice Chairman

Terry E. Moore Secretary

Burnadine Moss Anderson

Winzer R. Andrews Sr.

Larry C. Daniels

Charles J. Fox III

John F. George Jr.

Amanda Grey

Linda Holyfield

Lester Wayne Johnson

Claude B. Minor Jr.

Daniel J. Snyder

Lloyd L. Thompson

2017 UNIVERSITY HEALTH SHREVEPORT GOVERNING BOARD OF DIRECTORSFrank Williams Chairman

Dean Griffen Vice Chairman

Billy Montgomery Secretary

Charles J. Fox III

Miles Hitchcock

Barbara Pendleton

Mark Randolph

Wanda Thomas

2017 UNIVERSITY HEALTH CONWAY GOVERNING BOARD OF DIRECTORSLester Wayne Johnson Chairman

Corine Barral-Sutton Vice Chairman

Carolyn Myrick Secretary

Diana Gentry Breen

Thomas G. Eddleman

Alberta Brown Green

Claude B. Minor Jr.

D. Milton Moore III

Jonathan Phillips

BRF BOARDAND MANAGEMENT

UNIVERSITY HEALTH BOARD