Massachusetts Biomedical Initiatives Inc
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.
Massachusetts Biomedical Initiatives Inc at a glance
In short: Massachusetts Biomedical Initiatives Inc gave $212K across 6 grants in 2024 (avg $35K), mostly in Massachusetts. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $211,928
- -25.3% vs 2023
- Grants made (2024)
- 6
- +20.0% vs 2023
- Average grant
- $35,321
- -37.8% vs 2023
- Median grant
- $32,529
- Total assets
- $31,324,216
- +4.5% vs 2023
- Primary geography
- Massachusetts (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who Massachusetts Biomedical Initiatives Inc funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
The largest 2024 recipient was Quinsigamond Community College ($50K). Together the top 6 received $212K.
Grant Size Distribution
20 grants across all recorded years
The most common grant size was under $50K: 10 grants of 20 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 6 itemized grants.
Cities
How Massachusetts Biomedical Initiatives Inc gives
- Giving fell 25% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $188K (2020) to $284K (2023). In 2024 it made 6 grants totaling $212K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Quinsigamond Community College Worcester, MA | STEM Program | $50,000 |
| Biobuilder Educational Foundation Inc Newton, MA | STEM Program | $50,000 |
| Worcester State University Worcester, MA | STEM Program | $40,058 |
| Massachusetts Biotechnology Education Foundation Cambridge, MA | Biomanufacturing Technician Apprenticeship | $25,000 |
| Massachusetts Life Sciences Center Waltham, MA | Massnextgen Program Grant | $25,000 |
| MCPHS Boston, MA | Certificate in Quality Assurance and Quality Control | $21,870 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $31,324,216 | $5,329,684 | $4,238,815 | $211,928 | 6 | $1,217,294 |
| 2023 | $29,972,322 | $6,363,451 | $3,568,461 | $283,875 | 5 | $359,181 |
| 2022 | $23,711,563 | $4,750,848 | $3,413,396 | $218,750 | 5 | $263,138 |
| 2021 | $18,513,088 | $4,335,258 | $2,865,540 | $281,250 | 2 | $1,325,592 |
| 2020 | $17,539,609 | $5,958,843 | $2,219,087 | $187,500 | 2 | $760,460 |
About Massachusetts Biomedical Initiatives Inc
Based on IRS filings
Massachusetts Biomedical Initiatives Inc is a public charity focused on Science & Technology, based in Worcester, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $31.3M in total assets. In 2024, it awarded 6 grants totaling $212K. Net investment income was $1.2M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Massachusetts Biomedical Initiatives Inc is led by Jon Weaver, President & CEO on every filing since 2020; 2 of 19 officers listed in 2024 are compensated.
Officers on the 2024 filing
Jon Weaver
President & CEO
On filings since 2020
40 hrs/week
$176K (2020) → $265K (2024)
Robert J. Anderson CPA
Chairman
On filings since 2020
2 hrs/week
No compensation reported
Allan Guo
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Christopher M. Palatucci PhD
Trustee
On filings since 2020
2 hrs/week
No compensation reported
D. Davidson Easson Jr.
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Linda McGoldrick
Trustee
On filings since 2020
2 hrs/week
No compensation reported
W. Blaine Stine PhD
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Lizabeth Leveille
Trustee
On filings since 2021
2 hrs/week
No compensation reported
Imran Nasrullah
Trustee
On filings since 2022
2 hrs/week
No compensation reported
Joe Doherty
Trustee
New on the 2024 filing
2 hrs/week
No compensation reported
Lauren Foster
Trustee
New on the 2024 filing
2 hrs/week
No compensation reported
Raymond Knox
Trustee
New on the 2024 filing
2 hrs/week
No compensation reported
Zu Shen
Vice President
On filings since 2020
40 hrs/week
$115K (2020) → $191K (2024)
Abraham W. Haddad Dmd Facd
Trustee Emeritus
Vice Chairman → Trustee Emeritus, 2024
On filings since 2020
2 hrs/week
No compensation reported
Chuck Kunsch
Vice Chairman
Trustee → Clerk, 2022
Clerk → Vice Chairman, 2024
On filings since 2020
2 hrs/week
No compensation reported
David R. Grenon
Trustee Emeritus
On filings since 2020
2 hrs/week
No compensation reported
Philip R. Morgan
Vice Chairman
On filings since 2020
2 hrs/week
No compensation reported
Shobha Parthasarathi
Clerk
Trustee → Clerk, 2024
On filings since 2022
2 hrs/week
No compensation reported
John Hallinan
Treasurer
New on the 2024 filing
2 hrs/week
No compensation reported
Former officers (18)
- Former: Gail E. Radcliffe (2020–2023) — Trustee
- Former: Paul Wengender (2020–2023) — Trustee
- Former: Chuck Cowan (2023) — Facilities Manager
- Former: Timothy Jarry (2023) — Treasurer
- Former: Timothy M. Jarrycfacpa (2020–2022) — Treasurer
- Former: Travis McCready (2020–2022) — Trustee
- Former: Imran Nasrullah Ms JD (2020–2021) — Trustee
- Former: James B. Leary Esq. (2020–2021) — Trustee
- Former: Jean A. King PhD (2020–2021) — Trustee
- Former: Michael F. Collins (2020–2021) — Trustee
- Former: Parth Chakrabarti Ph D. (2020–2021) — Designee
- Former: Robert K. Coughlin (2020–2021) — Trustee
- Former: Shobha Parthasarathi Ph D. (2021) — Trustee
- Former: Craig L. Blais (2020) — Trustee
- Former: Dennis L. Guberski (2020) — Trustee
- Former: Neil McDonough (2020) — Trustee
- Former: Timothy Murray (2020) — Trustee
- Former: Yael Schwartz PhD (2020) — Trustee
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $265K, to Jon Weaver (President & CEO). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Massachusetts Biomedical Initiatives Inc
How much does Massachusetts Biomedical Initiatives Inc give each year?
Massachusetts Biomedical Initiatives Inc gave $212K across 6 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $284K across 5 grants.
What is Massachusetts Biomedical Initiatives Inc's typical grant size?
Massachusetts Biomedical Initiatives Inc's median grant in 2024 was $32,529, and its average grant was $35,321, across 6 grants on its 2024 IRS Form 990.
Where does Massachusetts Biomedical Initiatives Inc give grants?
Massachusetts Biomedical Initiatives Inc gives mostly in Massachusetts: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Worcester, MA (2 grants).
Does Massachusetts Biomedical Initiatives Inc give general operating support?
Not in 2024: none of the 6 grants with a stated purpose on Massachusetts Biomedical Initiatives Inc's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "STEM Program" (3 grants).
Who are Massachusetts Biomedical Initiatives Inc's largest grantees?
Massachusetts Biomedical Initiatives Inc's largest 2024 grantees include Quinsigamond Community College ($50,000), Biobuilder Educational Foundation Inc ($50,000) and Worcester State University ($40,058), according to its 2024 IRS Form 990. Together they received 66% of its itemized 2024 grant dollars.
How large is Massachusetts Biomedical Initiatives Inc?
Massachusetts Biomedical Initiatives Inc reported $31.3M in total assets on its 2024 IRS Form 990. Its revenue that year was $5.3M.
What is Massachusetts Biomedical Initiatives Inc?
Massachusetts Biomedical Initiatives Inc is a public charity focused on Science & Technology, based in Worcester, MA. It holds $31.3M in total assets as of 2024.
What is Massachusetts Biomedical Initiatives Inc's EIN?
Massachusetts Biomedical Initiatives Inc's EIN (Employer Identification Number) is 22-2636406. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS October 18, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 4, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS January 25, 2024)
- Updated Form 990 for fiscal year 2023 (received by the IRS August 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS September 29, 2025)
- IRS filings on file for fiscal years 2020–2024
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