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Massachusetts Biomedical Initiatives

EIN 22-2636406 · Worcester, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood86 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$5.3 million
Spending
$4.2 million
Spent on programs
87%
Reserves
18.1 months of spending
Largest source of income
fees for its services, 51%
Employees
6
Volunteers
0
Highest pay
$301,951, president & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 86 out of 100. Higher than 69% of charities in its peer group (science, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 18.1 months of spending.

  • Debt

    16 of 20

    It owes 30% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 20% of income.

  • Income trend

    5 of 15

    Income fell 16% on the year before.

  • Spending floor

    15 of 15

    87% of spending went to programs and raising each dollar of donations cost 12 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (science, $1m to $10m).

  • Independent board

    25 of 25

    17 of 18 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $3.7 million spent. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1985.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

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