2020-10-27T12:54:30-05:00 2019-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-01-01 222693047 MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC MASS 6176745100 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 ROBERT COUGHLIN PRESIDENT 6176745100 2020-10-21 1 THOMAS F MULDOON CPA P01561688 5083669100 2020-10-21 40.70.31.102 2020-10-21 16:34:14 ED P 2A9010E3A6A0BB3B06F86C59D67A72AD6F64F0F5 67FD54DCEB6CBC14265FA3262D2D1D14C69EA041 2019 2021-04-22 16:20:28Z ROBERT COUGHLIN 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 11604426 0 X WWW.MASSBIO.ORG X 1985 MA MASSBIO IS COMMITTED TO ADVANCING MASSACHUSETTS' LEADERSHIP IN THE LIFE SCIENCES TO GROW THE INDUSTRY, ADD VALUE TO THE HEALTH CARE SYSTEM AND IMPROVE PATIENT LIVES. 47 46 51 441 0 0 4462294 4911697 5978418 6562633 90780 130096 0 0 10531492 11604426 210000 100000 0 0 4707113 5645838 0 0 0 5153018 4937592 10070131 10683430 461361 920996 11726238 16265468 2230705 5848939 9495533 10416529 MASSBIO IS COMMITTED TO ADVANCING MASSACHUSETTS' LEADERSHIP IN THE LIFE SCIENCES TO GROW THE INDUSTRY, ADD VALUE TO THE HEALTH CARE SYSTEM AND IMPROVE PATIENT LIVES. 0 0 6562633 100000 6562633 MASSACHUSETTS BIOTECHNOLOGY COUNCIL - COSTS INCURRED TO SUPPORT AND PROVIDE A POSITIVE ENVIRONMENT FOR THE BIOTECHNOLOGY INDUSTRY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. 6562633 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 31 0 1 51 1 0 0 0 0 1 1 0 0 0 X 47 46 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KRISTINE KELLY VP FINANCE 6176745100 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 ROBERT COUGHLIN PRESIDENT/CEO 40.00 1.00 X X 818945 0 338224 MARK LEUCHTENBERGER DIRECTOR 0.25 X 0 0 0 MICHAEL O'HARA TREASURER 0.50 X X 0 0 0 MARK BAMFORTH DIRECTOR 0.25 X 0 0 0 JEFFREY J ELTON PHD DIRECTOR 0.25 X 0 0 0 SCOTT GILLIS DIRECTOR 0.25 X 0 0 0 LAURIE BARTLETT KEATING DIRECTOR 0.25 X 0 0 0 STEVEN RICHTER DIRECTOR 0.25 X 0 0 0 LAWRENCE S WITTENBERG DIRECTOR 0.50 X 0 0 0 AMIT SACHDEV DIRECTOR 0.25 X 0 0 0 ABBIE CELNIKER IMMEDIATE PAST CHAIR 0.50 X X 0 0 0 JC GUTIERREZ-RAMOS DIRECTOR 0.25 X 0 0 0 DAVID LUCCHINO CHAIR 0.50 X X 0 0 0 LISA OLSON DIRECTOR 0.25 X 0 0 0 ALICE POMPONIO DIRECTOR 0.25 X 0 0 0 LIZ LEWIS DIRECTOR 0.25 X 0 0 0 ADELENE PERKINS DIRECTOR 0.25 X 0 0 0 RICK RUSSELL DIRECTOR 0.25 X 0 0 0 MELISSA BRADFORD-KLUG DIRECTOR 0.25 X 0 0 0 TIM CLACKSON DIRECTOR 0.25 X 0 0 0 CHRIS GARABEDIAN DIRECTOR 0.25 X 0 0 0 CHRISTOPHER DE SOUZA DIRECTOR 0.25 X 0 0 0 KUMAR SRINIVASAN DIRECTOR 0.25 X 0 0 0 CHARLES WILSON VICE CHAIR 0.50 X X 0 0 0 LISA ADLER DIRECTOR 0.25 X 0 0 0 JASON COLE DIRECTOR 0.25 X 0 0 0 JOHN DUNLOP DIRECTOR 0.25 X 0 0 0 EDWARD KAYE DIRECTOR 0.25 X 0 0 0 CHANDRA RAMANATHAN DIRECTOR 0.25 X 0 0 0 PAM RANDHAWA CLERK 0.50 X X 0 0 0 BILL SIBOLD DIRECTOR 0.25 X 0 0 0 TAMAR THOMPSON DIRECTOR 0.25 X 0 0 0 BARBARA SOSNOWSKI DIRECTOR 0.25 X 0 0 0 IOANNIS SAPOUNTZIS DIRECTOR 0.25 X 0 0 0 ERIC RASMUSSEN DIRECTOR 0.25 X 0 0 0 GILMORE O'NEIL DIRECTOR 0.25 X 0 0 0 KATHRYN PAYNE DIRECTOR 0.25 X 0 0 0 JOEL MARCUS DIRECTOR 0.25 X 0 0 0 LUBA GREENWOOD DIRECTOR 0.25 X 0 0 0 GARY GILLHEENEY DIRECTOR 0.25 X 0 0 0 TROY COX DIRECTOR 0.25 X 0 0 0 CHERYL BLANCHARD DIRECTOR 0.25 X 0 0 0 BILL MCDERMOTT DIRECTOR 0.25 X 0 0 0 CHRIS LEIBMAN DIRECTOR 0.25 X 0 0 0 CHRISTOPHER MURPHY DIRECTOR 0.25 X 0 0 0 DAVID MEEKER DIRECTOR 0.25 X 0 0 0 KERRY WENTWORTH DIRECTOR 0.25 X 0 0 0 LIZABETH LEVEILLE DIRECTOR 0.25 X 0 0 0 ROBERT GOTTLIEB DIRECTOR 0.25 X 0 0 0 UDIT BATRA DIRECTOR 0.25 X 0 0 0 JOSEPH FAZIO VP FINANCE 40.00 X 207696 0 34095 JOHN HALLINAN CHIEF BUSINESS OFFICER 40.00 X 320674 0 29977 KENDALLE O'CONNELL CHIEF OPERATING OFFICER 40.00 X 266620 0 18321 JOHN TAGLIMONTE ENTREPREUER IN RESIDENCE 40.00 X 239610 0 36167 JASON CORDEIRO VICE PRESIDENT CONSORTIUM OPERATIONS 40.00 X 187621 0 33923 2041166 0 490707 12 0 1 0 DELOITTE AND TOUCHE LLP 200 BERKELEY STREET 10TH FLOOR BOSTON MA 02116 DIGITAL HEALTH STRATEGIC REPORT 215000 PARK STREET STRATEGIES 30 ROWES WHARF 600 BOSTON MA 02110 STATE AND FEDERAL LOBBYIST 150000 FOLEY HOAG LLP 155 SEAPORT WEST BOSTON MA 02210 STATE POLICY LEGAL COUNSEL 126268 MC DERMOTT QUALITY & MILELR LLP 28 STATE STREET 802 BOSTON MA 02109 STATE LOBBYIST 120828 CAPITOL COUNSEL LLC 700 13TH STREET NW SECOND FLOOR WASHINGTON DC 20005 FEDERAL LOBBYIST 120000 11 4911697 4911697 CONSORTIUM REBATES 900099 4550155 4550155 SPONSORSHIP FEES 900099 1598977 1598977 ATTENDANCE FEES 900099 321460 321460 OTHER PROGRAM REVENUE 900099 92041 92041 6562633 130096 130096 11604426 6562633 0 130096 X 100000 1157170 3596881 118975 432943 339869 53146 31498 1286553 248796 234448 475017 924343 145920 15164 165862 EVENT COSTS 1056252 DUES AND SUBSCRIPTIONS 160978 MEALS AND ENTERTAINMENT 72501 MISCELLANEOUS 63614 3500 10683430 361535 327490 9554736 11046155 1151590 1702763 223272 334616 1252573 725362 293655 527211 141450 2327233 11726238 16265468 747574 3505402 1338688 1956632 144443 386905 2230705 5848939 X 9495533 10416529 9495533 10416529 11726238 16265468 920996 0 X X 0 1 X 1 0 0 0 0 4911697 1281016 1281016 1393939 -112923 53774 50861 2913 988334 550797 437537 210465 123704 86761 527211 DUE FROM RELATED PARTY 228615 CONSTRUCTION IN PROCESS 2098618 2327233 DEFERRED RENT 386905 386905 X 11260607 0 11260607 343819 343819 11604426 10339611 -343819 -343819 10683430 0 10683430 PART X, LINE 2: MASSBIO ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MASSBIO HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT DECEMBER 31, 2019. MASSBIO'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: DUES ALLOCATION TO MBEF 343,819. PART XII, LINE 2D - OTHER ADJUSTMENTS: DUES ALLOCATION TO MBEF -343,819. PART XI, LINE 4B & PART XII, LINE 2D RECONCILIATION OF REVENUES AND EXPENSES FROM FINANCIAL STATEMENTS TO TAX RETURN INCLUDES $343,819 NET DUES ALLOCATION TO MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION. 1 MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION 255 MAIN STREET 8TH FLOOR CAMBRIDGE MA 02142 223799632 501(C)3 100000 TO FUND GENERAL OPERATIONS. 1 FORM 990 SCHEDULE I PART II FOR THE MBEF GRANTS - MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC. (MASSBIO) PRESIDENT AND ONE OTHER MASSBIO BOARD MEMBER SIT ON THE MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. (MBEF) BOARD. ALL MBEF BOARD MEETINGS INCLUDE PRESENTATION OF FINANCIAL STATEMENTS AND DISCUSSION OF PROGRESS IN ACHIEVING MBEF GOALS. MASSBIO'S TOTAL STAKE IN MBEF IS EVALUATED BASED ON THIS BOARD-LEVEL INTERACTION, INCLUDING THE GRANT DOLLARS, THE PERCENTAGE OF DUES THAT IS TURNED OVER TO MBEF, AND THE AMOUNT OF SUPPORT MASSBIO WILL PROVIDE IN PUTTING ON THE GOLF FUND-RAISING EVENT. FOR THE OTHER ONE-TIME GRANT - MASSBIO ASKED THE ORGANIZATION TO PROVIDE A COPY OF THEIR ANNUAL REPORT OUTLINING HOW THIS FUNDING WAS USED AND ANY MAJOR ACCOMPLISHMENTS OR CHALLENGES EXPERIENCED DURING THE GRANT YEAR. X 0 0 X X X 0 1 0 ROBERT COUGHLIN PRESIDENT/CEO 598945 0 220000 0 0 0 311200 0 27024 0 1157169 0 0 0 JOSEPH FAZIO VP FINANCE 175979 0 31717 0 0 0 7729 0 26366 0 241791 0 0 0 JOHN HALLINAN CHIEF BUSINESS OFFICER 278492 0 42182 0 0 0 8454 0 21523 0 350651 0 0 0 KENDALLE O'CONNELL CHIEF OPERATING OFFICER 226120 0 40500 0 0 0 10620 0 7701 0 284941 0 0 0 JOHN TAGLIMONTE ENTREPREUER IN RESIDENCE 208410 0 31200 0 0 0 9568 0 26599 0 275777 0 0 0 JASON CORDEIRO VICE PRESIDENT CONSORTIUM OPERATIONS 162661 0 24960 0 0 0 7405 0 26518 0 221544 0 0 0 PART I, LINE 1A MASSBIO HAS A MEMBERSHIP TO THE UMASS CLUB IN THE NAME OF ROBERT COUGHLIN. THE UMASS CLUB OFFERS MEMBERS FREE SHORT-TERM ACCESS TO OFFICE SPACE, AND ACCESS TO FUNCTION FACILITIES. MASSBIO STAFF USES THE UMASS CLUB OFFICE SPACE TO CONDUCT MASSBIO BUSINESS WHEN SPENDING LARGE BLOCKS OF TIME IN THAT GEOGRAPHIC AREA, AND HAS USED THE FUNCTION SPACE TO HOLD A MASSBIOED EVENT. THE NATURE OF THE DUES IS FOR BUSINESS NEED RATHER THAN AS A BENEFIT TO ANY INDIVIDUAL, BUT ONLY AN INDIVIDUAL CAN BECOME A MEMBER. PART I, LINE 4B MASSBIO MAINTAINS A SENIOR EXECUTIVE RETIREMENT PROGRAM (SERP) TO PROVIDE SUPPLEMENTAL RETIREMENT BENEFITS TO ITS PRESIDENT/CEO, ROBERT COUGHLIN. THERE WERE NO DISTRIBUTIONS THROUGH THIS PLAN IN 2019. FORM 990, PART VI, SECTION A, LINE 6 MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC IS A MEMBERSHIP ORGANIZATION. MEMBERS ARE REQUIRED TO MAKE ANNUAL PAYMENTS FOR THEIR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS WHO HAVE PAID THEIR ANNUAL MEMBERSHIP FEES ARE ENTITLED TO ONE VOTE. BOARD MEMBERS ARE NOMINATED BY THEIR PEERS AND ARE VOTED BY MEMBERS DURING THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY OUR AUDIT FIRM BASED ON INFORMATION PROVIDED BY MASSACHUSETTS BIOTECHNOLOGY COUNCIL'S MANAGEMENT. THE MASSBIO VP OF FINANCE REVIEWS THE COMPLETED FORM 990 FOR ACCURACY, AND ANY CORRECTIONS OR CHANGES ARE AGREED UPON AND MADE BY THE AUDIT FIRM. A FINAL REVIEW OF THE FORM 990 IS THEN DONE BY THE PRESIDENT AND THE EXECUTIVE COMMITTEE OF THE BOARD WITH THE VP OF FINANCE. FORM 990, PART VI, SECTION B, LINE 12C ALL MASSBIO BOARD MEMBERS AND STAFF ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST FORM ANNUALLY. MANAGEMENT TRACKS FORM SIGNING TO INSURE FULL COMPLIANCE. RELATED PARTY TRANSACTIONS ARE COMPILED AND DISCLOSED IN THE AUDITED FINANCIALS AND FORM 990 WHICH ARE REVIEWED BY THE BOARD OR BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT COMPENSATION: THE EXECUTIVE COMMITTEE OF THE BOARD EMPLOYED AN EXECUTIVE COMPENSATION CONSULTANT IN 2019 TO EVALUATE MASSBIO CEO COMPENSATION AND TO RECOMMEND CHANGES BASED ON THEIR WORK. THAT STUDY RECOMMENDED CERTAIN CHANGES TO CEO COMPENSATION BASED ON COMPARABLE ORGANIZATIONS' COMPENSATION PRACTICES. MASSBIO ADOPTED THE RECOMMENDED CHANGES FOR 2019 AND 2020. FORM 990, PART VI, SECTION C, LINE 19 MASSBIO MAKES ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 1,286,553. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED IN 2019. MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC 255 MAIN STREET 8TH FLOOR CAMBRIDGE MA 02142 223799632 TO ENCOURAGE GROWTH OF BIOTECHNOLOGY EDUCATION IN MASSACHUSETTS SCHOOLS. MA 501(C)3 LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC B 443819 GRANTS TO MASSBIO ED MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC N 238670 REIMBURSE FOR SHARED FACILITIES MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC Q 743826 REIMBURSE FOR MA BIO ED PAYROLL MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC O 35617 REIMBURSE FOR SHARED EMPLOYEES