MASSACHUSETTS BIOMEDICAL INITIATIV… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

JON WEAVER

Phone

5087974200

Tax Period

2024-01-01 to 2024-12-31

MASSACHUSETTS BIOMEDICAL INITIATIVES INC, founded in 1984, is a community nonprofit in the Science & Technology sector that reported $5.3M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. The organization ran a surplus of $1.1M, a strong 20% operating margin.

Mission

MASSACHUSETTS BIOMEDICAL INITIATIVES, INC. ("MBI OR THE ORGANIZATION") IS A PRIVATE NON-PROFIT CORPORATION FOCUSING ON BUILDING UP CENTRAL MASSACHUSETTS AS A GLOBAL BIOMANUFACTURING HUB. OUR MISSION OF BEING A PARTNER FOR FOSTERING INNOVATION IN THE LIFE SCIENCES IS FULFILLED THROUGH OUR EFFORTS IN STARTUP INCUBATION, WORKFORCE DEVELOPMENT, ECONOMIC DEVELOPMENT, AND REGIONAL ADVOCACY.

Program Service Accomplishments

Program 1

Expenses: $3,702,566 Revenue: $2,849,740

MBI PROVIDED STARTUP COMPANY INCUBATION SERVICES FOR BIOMEDICAL COMPANIES INCLUDING BIOTECHNOLOGY, MEDICAL DEVICE, AND BIOINFORMATICS. MBI PROVIDES FLEXIBLE AND SCALABLE PRIVATE LABORATORIES, OFFICE SPACE, SHARED EQUIPMENT, HEALTH AND SAFETY TRAINING AND SUPPORT AND SUPPORTIVE BUSINESS PROGRAMS TO HELP STARTUP COMPANIES GROW THEIR TEAM AND RESEARCH, CREATE JOBS, AND EXPAND THE TAX BASE.MBI IS A LEADER OF REGIONAL WORKFORCE DEVELOPMENT EFFORTS THROUGH OUR BIOMANUFACTURING WORKFORCE INITIATIVE, WORKFORCE CHALLENGE, AND INCREASING DIVERSITY IN STEM GRANTS. MBI HELPS WORK BETWEEN INDUSTRY AND ACADEMIA TO FIND EMPLOYMENT GAPS TO HELP CONNECT RESIDENTS INTO THROUGH CERTIFICATE PROGRAMMING. MBI LEADS REGIONAL BIOMANUFACTURING RELATED ECONOMIC DEVELOPMENT EFFORTS INCLUDING THE PROMOTION OF EMERGING BIO-FOOD AND BIO-MATERIAL SECTORS. THIS WORK HELPS CREATE ECONOMIC OPPORTUNITY FOR AREA RESIDENTS, INCREASE THE TAX BASE, AND ACHIEVE FEDERAL PRIORITIES IN PROMOTING DOMESTIC BIOMANUFACTURING, SECURING SUPPLY CHAINS, AND ACHIEVING OUR NATION'S SUSTAINABILITY GOALS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,262,650

Program Service Revenue $2,736,145

Investment Income $1,217,294

Other Revenue $113,595

TOTAL REVENUE $5,329,684

Expense Breakdown

Grants Paid $236,928

Salaries & Benefits $1,040,785

Fundraising Expenses $149,974

Program Expenses $3,702,566

Other Expenses $2,961,102

TOTAL EXPENSES $4,238,815

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,329,684	$6,363,451	-0.2%
Expenses	$4,238,815	$3,568,461	+0.2%
Net Income	$1,090,869	$2,794,990	-0.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$301,951

Total Directors

$301,951

Key Employees

$221,287

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHUCK KUNSCH	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
ROBERT J ANDERSON CPA	CHAIRMAN	2.00	Officer Director	$0	$0	$0
LAUREN FOSTER	TRUSTEE	2.00	Director	$0	$0	$0
JON WEAVER	PRESIDENT & CEO	40.00	Officer Director	$264,553	$37,398	$301,951
LINDA MCGOLDRICK	TRUSTEE	2.00	Director	$0	$0	$0
ALLAN GUO	TRUSTEE	2.00	Director	$0	$0	$0
SHOBHA PARTHASARATHI	CLERK	2.00	Officer Director	$0	$0	$0
JOHN HALLINAN	TREASURER	2.00	Officer Director	$0	$0	$0
LIZABETH LEVEILLE	TRUSTEE	2.00	Director	$0	$0	$0
RAYMOND KNOX	TRUSTEE	2.00	Director	$0	$0	$0
JOE DOHERTY	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTOPHER M PALATUCCI PHD	TRUSTEE	2.00	Director	$0	$0	$0
PHILIP R MORGAN	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
D DAVIDSON EASSON JR	TRUSTEE	2.00	Director	$0	$0	$0
DAVID R GRENON	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
W BLAINE STINE PHD	TRUSTEE	2.00	Director	$0	$0	$0
IMRAN NASRULLAH	TRUSTEE	2.00	Director	$0	$0	$0
ABRAHAM W HADDAD DMD FACD	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
ZU SHEN	VICE PRESIDENT	40.00	Key Emp	$191,357	$29,930	$221,287

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$5,329,684	$4,238,815	$31,324,216	$1,090,869
2023	$6,363,451	$3,568,461	$29,972,322	$2,794,990
2022	$4,750,848	$3,413,396	$23,711,563	$1,337,452
2021	$4,335,258	$2,865,540	$18,513,088	$1,469,718
2020	$5,958,843	$2,219,087	$17,539,609	$3,739,756
2019	$2,816,957	$1,863,460	$12,838,674	$953,497
2018	$1,742,894	$1,646,142	$10,303,267	$96,752

MASSACHUSETTS BIOMEDICAL INITIATIVES INC