EIN 22-2636406

Massachusetts Biomedical Initiatives

IRS 501(c) type
501(c)(3)
Num. employees
6
Year formed
1984
Most recent tax filings
2023-12-01
Description
MBI fosters job creation and healthcare innovation by incubating and supporting startup biomedical companies in Worcester, MA.
Total revenues
$6,363,451
2023
Total expenses
$3,568,461
2023
Total assets
$29,972,322
2023
Num. employees
6
2023

Program areas at Massachusetts Biomedical Initiatives

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.

Grants made by Massachusetts Biomedical Initiatives

GranteeGrant descriptionAmount
Quinsigamond Community College FoundationStem Program$112,500
MassBioEdBiomanufacturing Technician Apprenticeship$33,875

Who funds Massachusetts Biomedical Initiatives

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
T Rowe Price CharitableMultiple$50,000
AmazonSmile FoundationGeneral Support$64

Personnel at Massachusetts Biomedical Initiatives

NameTitleCompensation
Jon WeaverPresident and Chief Executive Officer$255,500
Zu ShenVice President$189,500
Michele CrawfordHealth and Safety Director
Karri FreelandSenior Operations Manager
Chuck CowanFacilities Manager
...and 4 more key personnel

Financials for Massachusetts Biomedical Initiatives

RevenuesFYE 12/2023
Total grants, contributions, etc.$3,524,397
Program services$2,360,773
Investment income and dividends$359,181
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$119,100
Total revenues$6,363,451

Form 990s for Massachusetts Biomedical Initiatives

Fiscal year endingDate received by IRSFormPDF link
2023-122024-08-14990View PDF
2022-122024-01-25990View PDF
2021-122022-11-04990View PDF
2020-122021-10-18990View PDF
2019-122021-02-19990View PDF
...and 10 more Form 990s
Data update history
September 22, 2024
Used new vendors
Identified 1 new vendor, including
June 6, 2024
Posted financials
Added Form 990 for fiscal year 2022
May 23, 2024
Updated personnel
Identified 1 new personnel
September 21, 2023
Updated personnel
Identified 3 new personnel
August 5, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Grantmaking organizationsSocial advocacy organizationsResearch centersCharities
Issues
Science and technology
Characteristics
Political advocacyConducts researchState / local levelReceives government fundingFundraising races, competitions, and tournamentsTax deductible donationsAccepts online donations
General information
Address
17 Briden St
Worcester, MA 01605
Metro area
Worcester, MA-CT
County
Worcester County, MA
Website URL
mbi.bio/ 
Phone
(508) 797-4200
IRS details
EIN
22-2636406
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1984
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
U50: Biological, Life Science Research
NAICS code, primary
813319: Social Advocacy Organizations
Parent/child status
Independent
Free account sign-up

Want updates when Massachusetts Biomedical Initiatives has new information, or want to find more organizations like Massachusetts Biomedical Initiatives?

Create free Cause IQ account