MICHIGAN BIOSCIENCES INDUSTRY ASSOCIATION

EIN: 383142021

ANN ARBOR, MI

Total Revenue
$703,979
Total Expenses
$798,858
Total Assets
$403,951
Net Assets
$377,069
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MI
Principal Officer
STEPHEN RAPUNDALO
Phone
7345279145
Tax Period
2024-01-01 to 2024-12-31

MICHIGAN BIOSCIENCES INDUSTRY ASSOCIATION, founded in 1993, is a small nonprofit that reported $704K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $799K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO DRIVE LIFE SCIENCES INDUSTRY GROWTH IN MICHIGAN BY PROVIDING ITS MEMBERS WITH NETWORKING & EDUCATIONAL OPPORTUNITIES, RECRUITEMENT, AND INFORMATION SERVICES.

Program Service Accomplishments

Program 1

CONFERENCE AND MEETINGS PROVIDE MEMBERS WITH NETWORKING OPPORTUNITIES AND EDUCATION IN THE LIFE SCIENCE INDUSTRY.

Program 2

MEMBERSHIP SUPPORT AND RECOGNITION FOR THE MEMBERS OF THE ORGANIZATION.

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Trantor Score

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

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $698,568
Investment Income $4,761
Other Revenue $650
TOTAL REVENUE $703,979

Expense Breakdown

Grants Paid $0
Salaries & Benefits $432,851
Fundraising Expenses $0
Other Expenses $366,007
TOTAL EXPENSES $798,858

Year-over-Year Comparison

2024 2023 Change
Revenue $703,979 $770,986 -0.1%
Expenses $798,858 $821,369 0.0%
Net Income $-94,879 $-50,383 +0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
4
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
3
$189,392
Total Directors
15
$189,392
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEN MASSEY PHD CHARIMAN 1.00
Officer Director
$0 $0 $0
KEVIN MCLEOD VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
STEPHEN RAPUNDALO PHD PRESIDENT 40.00
Officer Director
$189,392 $0 $189,392
CHRISTY BIGELOW DIRECTOR 1.00
Director
$0 $0 $0
CHUCK BIRD DIRECTOR 1.00
Director
$0 $0 $0
RHONDA DELUCA DIRECTOR 1.00
Director
$0 $0 $0
ROSE GILLESBY DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINA HAAKENSON PHD DIRECTOR 1.00
Director
$0 $0 $0
CHARLES HASEMANN PHD DIRECTOR 1.00
Director
$0 $0 $0
LAURA MALAGON DIRECTOR 1.00
Director
$0 $0 $0
DAVE MORIN DIRECTOR 1.00
Director
$0 $0 $0
KATE REMUS DIRECTOR 1.00
Director
$0 $0 $0
JOHN JH SCHWARZ MD DIRECTOR 1.00
Director
$0 $0 $0
UMA SHARMA PHD DIRECTOR 1.00
Director
$0 $0 $0
ASHLEA SOUFFROU DIRECTOR 1.00
Director
$0 $0 $0
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 $703,979 $798,858 $403,951 $-94,879
2023 $770,986 $821,369 $445,723 $-50,383
2022 $710,410 $685,457 $519,497 $24,953
2021 $631,783 $560,915 $489,894 $70,868
2020 $618,460 $486,919 $391,819 $131,541
2019 $597,651 $606,484 $290,567 $-8,833
2018 $576,280 $559,929 $306,232 $16,351
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