Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $468,500

• 1f · All other contributions, gifts and grants

  $308,910

• 1g · Noncash contributions included above

  $78,313

Functional expenses

Part IX, the statement of functional expenses.

• 11g · Fees: other

  total $205,981 · management and general $205,981

• 12 · Advertising and promotion

  total $43,500 · management and general $43,500

• 13 · Office expenses

  total $184 · management and general $184

• 14 · Information technology

  total $11,999 · management and general $11,999

• 17 · Travel

  total $2,142 · management and general $2,142

• 24a · Other expenses: DUES AND SUBSCRIPTIONS

  total $16 · management and general $16

• 24b · Other expenses: MEALS & ENTERTAINMENT

  total $12 · management and general $12

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $362,095

• 4 · Accounts receivable

  end of year $42,000

• 9 · Prepaid expenses and deferred charges

  end of year $37,971

• 10a · Land, buildings and equipment: cost or other basis

  $63,886

• 10b · Land, buildings and equipment: accumulated depreciation

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $63,886

• 15 · Other assets

  beginning of year $0 · end of year $14,815

• 17 · Accounts payable and accrued expenses

  end of year $7,191

• 27 · Net assets without donor restrictions

  end of year $513,576

The filer's explanations (Part III)

PART I, LINE 3

ALL COMPENSATION IS PAID BY RELATED ORGANIZATION MASSACHUSETTS BIOTECHNOLOGY COUNCIL (MASSBIO). PRESIDENT COMPENSATION: THE EXECUTIVE COMMITTEE OF THE MASSBIO 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.