2024-08-14T15:02:55-05:00 2023-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2023-01-01 222636406 MASSACHUSETTS BIOMEDICAL INITIATIVES INC MASS 5087974200 17 BRIDEN STREET WORCESTER MA 01605 JON WEAVER PRESIDENT & CEO 5089176471 2024-07-26 1 0 BARBARA E KING P00005629 5087557107 2024-07-26 2023 2024-08-08 14:25:15Z JON WEAVER 17 BRIDEN STREET WORCESTER MA 01605 6384205 0 X WWW.MASSBIOMED.ORG X 1984 MA MASSACHUSETTS BIOMEDICAL INITIATIVES (MBI) IS DEDICATED TO JOB CREATION AND INNOVATIVE HEALTHCARE THROUGHOUT MASSACHUSETTS BY PROMOTING THE GROWTH OF START-UP BIOMEDICAL COMPANIES. MBI IS COMMITTED TO COLLABORATING WITH THE ACADEMIC, BUSINESS AND GOVERNMENT COMMUNITIES TO PROMOTE MASSACHUSETTS AS THE WORLD LEADER IN THE LIFE & HEALTH SCIENCES INDUSTRY. 17 16 6 0 0 0 1953075 3524397 2477782 2360773 263138 359181 56853 119100 4750848 6363451 218750 287500 0 0 872633 951041 0 0 19011 2322013 2329920 3413396 3568461 1337452 2794990 23711563 29972322 6820626 9085090 16890937 20887232 X 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. 0 0 3234827 287500 2479873 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. 3234827 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 6 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X JON WEAVER 5089176471 17 BRIDEN STREET WORCESTER MA 01605 ABRAHAM W HADDAD DMD FACD VICE CHAIRMAN 2.00 X X 0 0 0 ROBERT J ANDERSON CPA CHAIRMAN 2.00 X X 0 0 0 GAIL E RADCLIFFE TRUSTEE 2.00 X 0 0 0 JON WEAVER PRESIDENT & CEO 37.50 X X 246000 0 36560 LINDA MCGOLDRICK TRUSTEE 2.00 X 0 0 0 ALLAN GUO TRUSTEE 2.00 X 0 0 0 CHUCK KUNSCH CLERK 2.00 X X 0 0 0 TIMOTHY JARRY TREASURER 2.00 X X 0 0 0 LIZABETH LEVEILLE TRUSTEE 2.00 X 0 0 0 PAUL WENGENDER TRUSTEE 2.00 X 0 0 0 SHOBHA PARTHASARATHI TRUSTEE 2.00 X 0 0 0 CHRISTOPHER M PALATUCCI PHD TRUSTEE 2.00 X 0 0 0 PHILIP R MORGAN VICE CHAIRMAN 2.00 X X 0 0 0 D DAVIDSON EASSON JR TRUSTEE 2.00 X 0 0 0 DAVID R GRENON TRUSTEE EMERITUS 2.00 X 0 0 0 W BLAINE STINE PHD TRUSTEE 2.00 X 0 0 0 IMRAN NASRULLAH TRUSTEE 2.00 X 0 0 0 ZU SHEN VICE PRESIDENT 37.50 X 190150 0 31233 CHUCK COWAN FACILITIES MANAGER 37.50 X 120650 0 23011 556800 0 90804 3 0 1 0 TIMBERLINE CONSTRUCTION 300 PINE STREET CANTON MA 02021 CONSTRUCTION 4922154 1 2949397 575000 3524397 INNOVATION CENTER 541900 2066404 2066404 TECHNOLOGY CENTER 541900 294369 294369 2360773 359181 359181 20754 20754 0 0 OTHER INCOME 541700 119100 119100 119100 6363451 2479873 0 359181 287500 287500 420725 324609 84145 11971 325282 248509 76773 148965 114442 32133 2390 56069 43075 12094 900 24573 24573 18500 18500 20754 20754 26970 4058 19162 3750 30103 30103 39314 13592 25722 4247 4247 621524 621524 280942 280942 799177 799177 74062 74062 REPAIR & MAINTENANCE 178957 178957 PROPERTY TAXES 81858 81858 SAFETY 50325 50325 MISC EXPENSES 25094 24327 767 53520 53520 3568461 3234827 314623 19011 960276 361782 1565754 2561928 125000 197500 68900 54621 38205 27368 19876365 3668730 12429346 16207635 8021182 9531124 502900 1030364 23711563 29972322 32077 20161 70824 46687 5616541 7351572 1101184 1666670 6820626 9085090 X 16890937 20752232 135000 16890937 20887232 23711563 29972322 2794990 1201305 0 X 0 1 X 0 0 X 1036349 3936407 953729 1953075 2949397 10828957 1036349 3936407 953729 1953075 2949397 10828957 8005922 2823035 492241 478503 736905 261946 359181 2328776 5305 26381 59363 56853 119100 267002 13424735 9086093 0.21030 0.32980 X MASSACHUSETTS BIOMEDICAL INITIATIVES, INC. IS A PRIVATE, INDEPENDENT ECONOMIC DEVELOPMENT ORGANIZATION THAT SERVES AS A CATALYST FOR LIFE SCIENCE AND HEALTHCARE INNOVATION. THE ORGANIZATION HELPS START BIOMEDICAL COMPANIES AND CREATE JOBS WITHIN THE BIOTECHNOLOGY, MEDICAL DEVICE, INFORMATICS, AND BIOMANUFACTURING INDUSTRY BY PROVIDING SECURE, CLEAN BENCH AND SINK SURFACE, STAFF TRAINED AND FULLY LICENSED LABORATORY SPACE FOR USAGE BY "SEED STAGE" COMPANIES. BUILDING AND MAINTAINING COLLABORATIVE AFFILIATIONS AND PARTNERSHIPS ARE ESSENTIAL TO OUR SUCCESS. THE ORGANIZATION NORMALLY MEETS THE 33 1/3 PUBLIC SUPPORT TEST. THERE ARE APPROXIMATELY 22 TRUSTEES OF THE ORGANIZATION CONSISTING OF LOCAL PROFESSIONALS, CIVIC AND COMMUNITY LEADERS. DURING THE YEAR ENDED DECEMBER 31, 2020, THE ORGANIZATION RECEIVED A GRANT FOR CAPITAL IMPROVEMENTS OF APPROXIMATELY $3 MILLION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1169769 1169769 18053773 3236886 14816887 571955 395028 176927 80868 36816 44052 16207635 RENTAL DEPOSITS 125217 RECOVERABLE GRANT 500000 OPERATING LEASE LIABILITIES 1041453 1666670 7544002 1201305 1201305 6342697 20754 20754 6363451 3547707 0 3547707 20754 20754 3568461 1 QUINSIGAMOND COMMUNITY COLLEGE 670 W BOYLSTON ST WORCESTER MA 01606 042897624 501(C)(3) 112500 0 STEM PROGRAM WORCESTER STATE UNIVERSITY 486 CHANDLER STREET WORCESTER MA 01602 042760551 501(C)(3) 62500 0 STEM PROGRAM SMALL BUSINESS ADMINISTRATION 409 3RD STREET SW WASHINGTON DC 20416 720564834 501(C)(3) 50000 0 GRANT PARTNERSHIP MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION 255 MAIN STREET CAMBRIDGE MA 02142 223799632 501(C)(3) 33875 0 BIOMANUFACTURING TECHNICIAN APPRENTICESHIP MASSACHUSETTS LIFE SCIENCES CENTER 1075 MAIN STREET 100 WALTHAM MA 02451 25000 0 MASSNEXTGEN PROGRAM GRANT X 0 0 0 1 0 0 0 0 0 JON WEAVER PRESIDENT & CEO 246000 0 0 0 0 0 14760 0 21800 0 282560 0 0 0 ZU SHEN VICE PRESIDENT 190150 0 0 0 0 0 9433 0 21800 0 221383 0 0 0 PART I, LINE 5 THERE IS DISCRETIONARY BONUS RECOMMENDED AND APPROVED BY THE BOARD FOR THE PRESIDENT BASED ON THE ORGANIZATION'S OVERALL PERFORMANCE FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PRESENTED TO THE ORGANIZATION'S BOARD OF DIRECTORS AND REVIEWED BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD MUST FILL OUT A CONFLICT OF INTEREST FORM WHEN THEY JOIN THE BOARD AND ITS UPDATED YEARLY. FORM 990, PART VI, SECTION B, LINE 15A MEMBERS OF THE BOARD OF TRUSTEES CAN NOMINATE CANDIDATES FOR A VOTE TO REJECT OR ACCEPT THE CANDIDATE. SHOULD NO CANDIDATES BE NOMINATED AND ACCEPTED, THE BOARD WILL FORM A SUB-COMMITTEE TO FIND A NEW CHIEF EXECUTIVE. THE SUB-COMMITTEE MAY EMPLOY A SEARCH CONSULTANT TO ASSIST WITH A BROAD SEARCH. INTERVIEWS WOULD BE CONDUCTED BY THE SUB-COMMITTEE. THE SUB-COMMITTEE THEN RECOMMENDS A CANDIDATE TO THE FULL BOARD OF TRUSTEES WHO VOTES TO REJECT OR ACCEPT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANZIATION'S FORM 990 IS FILED WITH THE PUBLIC CHARITIES REPORT.