MICHIGAN BIOSCIENCES INDUSTRY ASSOCIATION (EIN 383142021) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

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.

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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%)

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

Financial Distress Indicator

Liquidity & Cash Position

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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

$189,392

Total Directors

$189,392

Key Employees

Highest Compensated

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

MICHIGAN BIOSCIENCES INDUSTRY ASSOCIATION