Form 990 for tax year 2022
Filed by MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC.
Totals
- Total revenue
- $16,916,817
- Total expenses
- $15,878,078
- Contributions and grants received
- $6,903,452
- Grants paid
- $27,811
- Program service revenue
- $9,847,661
- Investment income
- $165,704
- Other revenue
- $0
- Total assets, end of year
- $31,306,037
- Total liabilities, end of year
- $13,671,861
- Net assets or fund balances, end of year
- $17,634,176
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$6,458,452
-
1f · All other contributions, gifts and grants
$445,000
-
2a · Program service revenue: CONSORTIUM REBATES
total $7,267,226 · related or exempt $7,267,226
-
2b · Program service revenue: SPONSORSHIP FEES
total $1,660,769 · related or exempt $1,660,769
-
2c · Program service revenue: ATTENDANCE FEES
total $818,326 · related or exempt $818,326
-
2d · Program service revenue: OTHER PROGRAM REVENUE
total $101,340 · related or exempt $101,340
-
3 · Investment income
total $165,704 · excluded $165,704
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $27,811
-
5 · Compensation of officers, directors and key employees
total $1,177,342
-
7 · Other salaries and wages
total $4,597,324
-
8 · Pension plan contributions
total $158,224
-
9 · Other employee benefits
total $548,333
-
10 · Payroll taxes
total $355,697
-
11b · Fees: legal
total $8,159
-
11c · Fees: accounting
total $29,350
-
11g · Fees: other
total $2,113,452
-
12 · Advertising and promotion
total $251,592
-
13 · Office expenses
total $429,475
-
14 · Information technology
total $634,626
-
16 · Occupancy
total $2,196,248
-
17 · Travel
total $579,555
-
19 · Conferences, conventions and meetings
total $5,418
-
22 · Depreciation, depletion and amortization
total $824,343
-
24a · Other expenses: EVENT COSTS
total $1,173,717
-
24b · Other expenses: BAD DEBT
total $444,074
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $253,034
-
24d · Other expenses: MEALS AND ENTERTAINMENT
total $38,940
-
24e · All other expenses
total $31,364
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $426,288 · end of year $380,100
-
2 · Savings and temporary cash investments
beginning of year $12,764,284 · end of year $15,439,962
-
4 · Accounts receivable
beginning of year $2,167,977 · end of year $2,803,423
-
9 · Prepaid expenses and deferred charges
beginning of year $180,576 · end of year $405,711
-
10a · Land, buildings and equipment: cost or other basis
$5,308,355
-
10b · Land, buildings and equipment: accumulated depreciation
$2,171,227
-
10c · Land, buildings and equipment, net
beginning of year $3,807,842 · end of year $3,137,128
-
15 · Other assets
beginning of year $354,970 · end of year $9,139,713
-
17 · Accounts payable and accrued expenses
beginning of year $460,387 · end of year $1,052,249
-
19 · Deferred revenue
beginning of year $1,721,284 · end of year $2,456,721
-
25 · Other liabilities
beginning of year $924,829 · end of year $10,162,891
-
27 · Net assets without donor restrictions
beginning of year $15,624,496 · end of year $17,186,727
-
28 · Net assets with donor restrictions
beginning of year $970,941 · end of year $447,449
Mission and programs · 2022
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.
-
MASSACHUSETTS BIOTECHNOLOGY COUNCIL - COSTS INCURRED TO SUPPORT AND PROVIDE A POSITIVE ENVIRONMENT FOR THE BIOTECHNOLOGY INDUSTRY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION.
Revenue $9,847,661
As filed on the 2022 return.
Listed in Part VII
-
Joseph BoncoreJOSEPH BONCORE
CEO
- Total calculated
- $629,074
- From this org
- $599,933
- From related orgs
- $0
- Other
- $29,141
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $599,933
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $29,141
- Filer's total
- $629,074
-
Kendalle Lee Burlin OconnellKENDALLE LEE BURLIN OCONNELL
PRESIDENT & COO
- Total calculated
- $548,268
- From this org
- $526,892
- From related orgs
- $0
- Other
- $21,376
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $526,892
- Bonus
- $0
- Other
- $0
- Deferred
- $20,500
- Nontaxable benefits
- $876
- Filer's total
- $548,268
-
Pam RandhawaPAM RANDHAWA
CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Chris GarabedianCHRIS GARABEDIAN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike O'HaraMIKE O'HARA
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Tamar ThompsonTAMAR THOMPSON
CLERK
- Total calculated
- $0
- Hours/week
- 0.5
-
Lawrence WittenbergLAWRENCE WITTENBERG
COUNSEL
- Total calculated
- $0
- Hours/week
- 0.5
-
David LucchinoDAVID LUCCHINO
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.25
-
Charles WilsonCHARLES WILSON
DIRECTOR/ PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.25
-
Udit BatraUDIT BATRA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Cheryl BlanchardCHERYL BLANCHARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Melissa Bradford-KlugMELISSA BRADFORD-KLUG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Tim ClacksonTIM CLACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Chip ClarkCHIP CLARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Sharon CloadSHARON CLOAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Jason ColeJASON COLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
John DunlopJOHN DUNLOP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Jeffrey EltonJEFFREY ELTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Barbara FoxBARBARA FOX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Gary GillheeneyGARY GILLHEENEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Luba GreenwoodLUBA GREENWOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Jc Gutierrez-RamosJC GUTIERREZ-RAMOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Susan HagerSUSAN HAGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Martin HeideckerMARTIN HEIDECKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Edward KayeEDWARD KAYE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Chris LeibmanCHRIS LEIBMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Lizabeth LeveilleLIZABETH LEVEILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Liz LewisLIZ LEWIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Bill McDermottBILL MCDERMOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
David MeekerDAVID MEEKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Christopher MurphyCHRISTOPHER MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Gilmore O'NeillGILMORE O'NEILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Cynthia PerettieCYNTHIA PERETTIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Adelene PerkinsADELENE PERKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Alice PomponioALICE POMPONIO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Chandra RamanathanCHANDRA RAMANATHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Eric RasmussenERIC RASMUSSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Rick RussellRICK RUSSELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Amit SachdevAMIT SACHDEV
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Bill SiboldBILL SIBOLD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Kumar SrinivasanKUMAR SRINIVASAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Rehan VerjeeREHAN VERJEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Kerry WentworthKERRY WENTWORTH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Robert GottliebROBERT GOTTLIEB
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Michal PremingerMICHAL PREMINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Eileen ElliotEILEEN ELLIOT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Chris RoundCHRIS ROUND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Robert CoughlinROBERT COUGHLIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Alan EisenbergALAN EISENBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Zachary A StanleyZACHARY A STANLEY
VP OF POLICY
- Total calculated
- $325,231
- From this org
- $292,527
- From related orgs
- $0
- Other
- $32,704
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $292,527
- Bonus
- $0
- Other
- $0
- Deferred
- $20,500
- Nontaxable benefits
- $12,204
- Filer's total
- $325,231
-
Jason M CordeiroJASON M CORDEIRO
VP OF OPERATIONS
- Total calculated
- $316,518
- From this org
- $286,582
- From related orgs
- $0
- Other
- $29,936
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $286,582
- Bonus
- $0
- Other
- $0
- Deferred
- $14,334
- Nontaxable benefits
- $15,602
- Filer's total
- $316,518
-
Gauri R NairGAURI R NAIR
VP OF INNOVATION
- Total calculated
- $271,599
- From this org
- $248,305
- From related orgs
- $0
- Other
- $23,294
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $248,305
- Bonus
- $0
- Other
- $0
- Deferred
- $22,245
- Nontaxable benefits
- $1,049
- Filer's total
- $271,599
-
Benjamin M BradfordBENJAMIN M BRADFORD
VP OF MEMBERSHIP
- Total calculated
- $272,525
- From this org
- $242,571
- From related orgs
- $0
- Other
- $29,954
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $242,571
- Bonus
- $0
- Other
- $0
- Deferred
- $17,671
- Nontaxable benefits
- $12,283
- Filer's total
- $272,525
-
Kevin KellyKEVIN KELLY
VP OF FINANCE
- Total calculated
- $226,468
- From this org
- $214,858
- From related orgs
- $0
- Other
- $11,610
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $214,858
- Bonus
- $0
- Other
- $0
- Deferred
- $9,415
- Nontaxable benefits
- $2,195
- Filer's total
- $226,468
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC
501(C)(3) · TO ENCOURAGE GROWTH OF BIOTECHNOLOGY EDUCATION IN MASSACHUSETTS SCHOOLS. · MA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202342999349300449
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