MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC (EIN 22-2693047)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-11-02
- IRS object ID
- 201843069349301034
- Schema version
- 2017v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-11-02T10:03:27-05:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042571780 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALEXANDER ARONSON FINNING & CO PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 WASHINGTON STREET | AddressLine1Txt |
| City | WESTBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01581 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 222693047 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MASS | BusinessNameControlTxt |
| Phone | 6176745100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 TECHNOLOGY SQUARE 8TH FLOOR | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02139 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT COUGHLIN | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6176745100 | PhoneNum |
| Signature | 2018-11-01 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | YEVGENIYA GORLOVSKY-SCHEPP CPA | PreparerPersonNm |
| PTIN | P01485484 | PTIN |
| Phone | 5083669100 | PhoneNum |
| Preparation | 2018-11-01 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 64.238.141.162 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2018-11-01 | IPDt |
| IP Tm | 11:47:27 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | F4247996A0DFD92197EA51AEF4558D040C319DAA | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | CB2B07AFD6767982BCB28B09646F6ACBACA35001 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2018-06-14 16:35:46Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT COUGHLIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 TECHNOLOGY SQUARE 8TH FLOOR | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02139 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $8,298,114 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MASSBIO.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1985 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 41 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 40 | VotingMembersIndependentCnt |
| Total Employee | 41 | TotalEmployeeCnt |
| Total Volunteers | 241 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,636,822 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,022,914 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,782,236 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,244,079 | CYProgramServiceRevenueAmt |
| PY Investment Income | $19,503 | PYInvestmentIncomeAmt |
| CY Investment Income | $31,121 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $7,438,561 | PYTotalRevenueAmt |
| CY Total Revenue | $8,298,114 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $130,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $830,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,324,467 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,656,653 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,801,457 | PYOtherExpensesAmt |
| CY Other Expenses | $3,472,812 | CYOtherExpensesAmt |
| PY Total Expenses | $6,255,924 | PYTotalExpensesAmt |
| CY Total Expenses | $7,959,465 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,182,637 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $338,649 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $10,240,196 | TotalAssetsBOYAmt |
| Total Assets EOY | $10,972,816 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,544,673 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,938,644 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $8,695,523 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $9,034,172 | NetAssetsOrFundBalancesEOYAmt |
| Mission | 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,941,466 | ExpenseAmt |
| Grant | $830,000 | GrantAmt |
| Revenue | $4,244,079 | RevenueAmt |
| Desc | MASSACHUSETTS BIOTECHNOLOGY COUNCIL - COSTS INCURRED TO SUPPORT AND PROVIDE A POSITIVE ENVIRONMENT FOR THE BIOTECHNOLOGY INDUSTRY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. | Desc |
| Total Program Service Expenses | $6,941,466 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 19 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 41 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | Yes (1) | NondeductibleContributionsInd |
| Nondeductible Contri Discl | Yes (1) | NondeductibleContriDisclInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 41 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 40 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOSEPH FAZIO VP FINANCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6176745100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 TECHNOLOGY SQUARE 8TH FLOOR | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02139 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (48 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ROBERT COUGHLIN | |||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | Yes (X) | $678,736 | $0 | $95,378 | |
| MARK LEUCHTENBERGER | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL O'HARA | |||||||
| TREASURER | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| GLENN BATCHELDER | |||||||
| IMMEDIATE PAST CHAIR | 0.50 | Yes (X) | $0 | $0 | $0 | ||
| GEOFFREY F COX | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MARK BAMFORTH | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| JEFFREY J ELTON PHD | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| SCOTT GILLIS | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| LAURIE BARTLETT KEATING | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| STEVEN RICHTER | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| LAWRENCE S WITTENBERG | |||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | ||
| AMIT SACHDEV | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| GEOFF MACKAY | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| ABBIE CELNIKER | |||||||
| CHAIR | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JC GUTIERREZ-RAMOS | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| JAMES HOYES | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| DAVID LUCCHINO | |||||||
| VICE CHAIR | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| RENEE CONNOLLY | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| LISA OLSON | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| ALICE POMPONIO | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| LIZ LEWIS | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| ADELENE PERKINS | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| RICK RUSSELL | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MELISSA BRADFORD-KLUG | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| TIM CLACKSON | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| CHRIS GARABEDIAN | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| ANTONY LOEBEL | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER DE SOUZA | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL PELLINI | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL RUGGIERO | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| KUMAR SRINIVASAN | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| CHARLES WILSON | |||||||
| CLERK | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| LISA ADLER | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| JASON COLE | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| JOHN DUNLOP | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD KAYE | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| PAIGE MAHANEY | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| PAUL MCKENZIE | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| CHANDRA RAMANATHAN | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| PAM RANDHAWA | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| BILL SIBOLD | |||||||
| DIRECTOR | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| STEVEN GILMAN | |||||||
| DIRECTOR (LEFT ON 2017) | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| KATHLEEN TREGONING | |||||||
| DIRECTOR (LEFT ON 2017) | 0.25 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH FAZIO | |||||||
| VP FINANCE | 40.00 | $185,596 | $0 | $31,041 | Yes (X) | ||
| JOHN HALLINAN | |||||||
| CHIEF BUSINESS OFFICER | 40.00 | $295,819 | $0 | $27,836 | Yes (X) | ||
| KENDALLE O'CONNELL | |||||||
| VP MEMBER SERVICES | 40.00 | $202,896 | $0 | $14,772 | Yes (X) | ||
| ZACHARY STANLEY | |||||||
| VP, PUBLIC AFFAIRS | 40.00 | $138,003 | $0 | $7,991 | Yes (X) | ||
| ELIZABETH STEELE | |||||||
| VP, PROGRAMS AND GLOBAL AFFAIRS | 40.00 | $133,392 | $0 | $23,984 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,634,442 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $201,002 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PARK STREET STRATEGIES | |||||
| 15 CLIFTON AVENUE | MARBLEHEAD | MA | 01945 | STATE AND FEDERAL LOBBYIST | $150,000 |
| FREEMAN | |||||
| 275 BODWELL STREET | BOSTON | MA | 02322 | DESIGN, SUPPLY, BUILD PAVILION FOR BIO C | $121,694 |
| MCDERMOTT QUILTY & MILLER LLP | |||||
| 21 CUSTOM HOUSE STREET | BOSTON | MA | 02110 | STATE LOBBYIST | $120,589 |
| CAPITOL COUNSEL LLC | |||||
| 700 13TH STREET | WASHINGTON | DC | 20005 | FEDERAL LOBBYIST | $120,000 |
| SMITH COSTELLO & CRAWFORD | |||||
| 50 CONGRESS STREET 300 | BOSTON | MA | 02109 | STATE LOBBYIST | $120,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 6 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $4,022,914 | MembershipDuesAmt |
| Total Contributions | $4,022,914 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CONSORTIUM REBATES | 900099 | $2,677,940 | $2,677,940 |
| SPONSORSHIP FEES | 900099 | $1,280,676 | $1,280,676 |
| ATTENDANCE FEES | 900099 | $203,150 | $203,150 |
| OTHER PROGRAM REVENUE | 900099 | $82,313 | $82,313 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,244,079 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,121 | TotalRevenueColumnAmt |
| Exclusion | $31,121 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,298,114 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,244,079 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $31,121 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $830,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $774,114 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,304,546 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $78,648 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $313,213 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,132 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,074 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,656 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $220,786 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $278,841 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $195,743 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $288,804 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $600,171 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $220,252 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,346 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $120,910 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,066 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EVENT COSTS | $732,241 |
| CONSULTING | $635,927 |
| DUES AND SUBSCRIPTIONS | $98,995 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,959,465 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $310,527 | BOYAmt |
| EOY | $432,305 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,585,726 | BOYAmt |
| EOY | $8,680,278 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $739,723 | BOYAmt |
| EOY | $1,381,829 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $191,572 | BOYAmt |
| EOY | $199,937 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $851,027 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $645,977 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $248,332 | BOYAmt |
| EOY | $205,050 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $164,316 | BOYAmt |
| EOY | $73,417 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,240,196 | BOYAmt |
| EOY | $10,972,816 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $298,456 | BOYAmt |
| EOY | $445,591 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,014,930 | BOYAmt |
| EOY | $1,306,851 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $231,287 | BOYAmt |
| EOY | $186,202 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,544,673 | BOYAmt |
| EOY | $1,938,644 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,695,523 | BOYAmt |
| EOY | $9,034,172 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,695,523 | BOYAmt |
| EOY | $9,034,172 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,240,196 | BOYAmt |
| EOY | $10,972,816 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $338,649 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
| Dues Assessments | $4,022,914 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $1,218,166 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $1,218,166 | NonDeductibleLbbyngPltclTotAmt |
| Aggregate Reported Dues Ntc | $1,327,562 | AggregateReportedDuesNtcAmt |
| Taxable | -$109,396 | TaxableAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $53,774 | OtherCostOrOtherBasisAmt |
| Depreciation | $27,109 | DepreciationAmt |
| Book Value | $26,665 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $675,753 | OtherCostOrOtherBasisAmt |
| Depreciation | $507,093 | DepreciationAmt |
| Book Value | $168,660 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $121,500 | OtherCostOrOtherBasisAmt |
| Depreciation | $111,775 | DepreciationAmt |
| Book Value | $9,725 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $205,050 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED RENT | Desc |
| Amt | $186,202 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $186,202 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $8,016,510 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $8,016,510 | RevenueSubtotalAmt |
| Other Revenues Not Included | $281,604 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $281,604 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $8,298,114 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,677,861 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$281,604 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$281,604 | ExpensesNotReportedAmt |
| Expenses Subtotal | $7,959,465 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,959,465 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2017. MASSBIO'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | DUES ALLOCATION TO MBEF |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | DUES ALLOCATION TO MBEF |
| PART XI, LINE 4B & PART XII, LINE 2D | RECONCILIATION OF REVENUES AND EXPENSES FROM FINANCIAL STATEMENTS TO TAX RETURN INCLUDES $281,604 NET DUES ALLOCATION TO MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION | |||||||
| 300 TECHNOLOGY SQUARE 8TH FLOOR | CAMBRIDGE | MA | 02139 | 223799632 | 501(C)3 | $230,000 | TO FUND GENERAL OPERATIONS AND WORKFORCE DEVELOPMENT. |
| LIFE SCIENCE CARES | |||||||
| 800 BOYLSTON ST TOWER 1555 | BOSTON | MA | 02199 | 812435939 | 501(C)3 | $500,000 | TO FUND GENERAL OPERATIONS. |
| TURNPIKE PARTNERSHIP INC | |||||||
| PENNSYLVANIA AVENUE NW 190-612 | WASHINGTONS | DC | 20004 | 813882900 | 501(C)6 | $100,000 | TO FUND GENERAL OPERATIONS. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990 SCHEDULE I PART II | FormAndLineReferenceDesc |
| Explanation | 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 TWO ONE-TIME GRANTS - MASSBIO ASKED EACH 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | 0 | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | 0 | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT COUGHLIN | ||||||||||||||
| PRESIDENT/CEO | $563,772 | $0 | $114,964 | $0 | $0 | $0 | $70,800 | $0 | $24,578 | $0 | $774,114 | $0 | $0 | $0 |
| JOSEPH FAZIO | ||||||||||||||
| VP FINANCE | $161,159 | $0 | $24,437 | $0 | $0 | $0 | $7,222 | $0 | $23,819 | $0 | $216,637 | $0 | $0 | $0 |
| JOHN HALLINAN | ||||||||||||||
| CHIEF BUSINESS OFFICER | $258,319 | $0 | $37,500 | $0 | $0 | $0 | $8,233 | $0 | $19,603 | $0 | $323,655 | $0 | $0 | $0 |
| KENDALLE O'CONNELL | ||||||||||||||
| VP MEMBER SERVICES | $176,505 | $0 | $26,391 | $0 | $0 | $0 | $8,093 | $0 | $6,679 | $0 | $217,668 | $0 | $0 | $0 |
| ELIZABETH STEELE | ||||||||||||||
| VP, PROGRAMS AND GLOBAL AFFAIRS | $120,611 | $0 | $12,781 | $0 | $0 | $0 | $5,412 | $0 | $18,572 | $0 | $157,376 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 - EXECUTIVE COMMITTEE OF THE BOARD USES THE AVERAGE SALARY FOR BIOTECH PRESIDENT'S AS A GUIDE IN DETERMINING SALARY. BONUS COMPENSATION IS BASED ON ACHIEVING ORGANIZATIONAL GOALS. KEY EMPLOYEE COMPENSATION - CEO NEGOTIATES ON BEHALF OF MASSBIO, USING COMPARABLE POSITIONS WITHIN THE BIOTECH INDUSTRY AS A STARTING POINT. |
| 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 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 2017. |
| FORM 990, PART V, LINE 2A | NINE MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. EMPLOYEES ARE PAID THROUGH MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC.'S PAYROLL SERVICE AND THUS ARE INCLUDED IN FORM W-3 FILING. MASSACHUSETTS BIOTECHNOLOGY COUNCIL RECEIVES REIMBURSEMENT FROM MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. FOR THESE EMPLOYEES. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 TECHNOLOGY SQUARE | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02139 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223799632 | EIN |
| Primary Activities | TO ENCOURAGE GROWTH OF BIOTECHNOLOGY EDUCATION IN MASSACHUSETTS SCHOOLS. | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)3 | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC | ||
| B | $511,604 | GRANTS TO MASSBIO ED |
| MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC | ||
| N | $189,290 | REIMBURSE FOR SHARED FACILITIES |
| MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC | ||
| Q | $690,524 | REIMBURSE FOR MA BIO ED PAYROLL |
| MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC | ||
| O | $59,153 | REIMBURSE FOR SHARED EMPLOYEES |