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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$31.3M
+4.5% YoY
Annual Giving
$212K
-25.3% YoY
Grant Count
6
+20.0% YoY
Avg Grant Size
$35K
-37.8% YoY
About Massachusetts Biomedical Initiatives Inc
Based on IRS filings
Massachusetts Biomedical Initiatives Inc is a nonprofit organization 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
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $31,324,216 | $29,972,322 | $23,711,563 |
| Revenue | $5,329,684 | $6,363,451 | $4,750,848 |
| Expenses | $4,238,815 | $3,568,461 | $3,413,396 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $1,217,294 | $359,181 | $263,138 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
20 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Quinsigamond Community College ($50,000), Biobuilder Educational Foundation Inc ($50,000), Worcester State University ($40,058).
| Recipient | Purpose | Amount |
|---|---|---|
| QUINSIGAMOND COMMUNITY COLLEGE WORCESTER, MA | STEM PROGRAM | $50,000 |
| WORCESTER STATE UNIVERSITY WORCESTER, MA | STEM PROGRAM | $40,058 |
| BIOBUILDER EDUCATIONAL FOUNDATION INC NEWTON, MA | STEM PROGRAM | $50,000 |
| 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 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHUCK KUNSCH | VICE CHAIRMAN | 2 | — |
| ROBERT J ANDERSON CPA | CHAIRMAN | 2 | — |
| LAUREN FOSTER | TRUSTEE | 2 | — |
| JON WEAVER | PRESIDENT & CEO | 40 | $264,553 |
| LINDA MCGOLDRICK | TRUSTEE | 2 | — |
| ALLAN GUO | TRUSTEE | 2 | — |
| SHOBHA PARTHASARATHI | CLERK | 2 | — |
| JOHN HALLINAN | TREASURER | 2 | — |
| LIZABETH LEVEILLE | TRUSTEE | 2 | — |
| RAYMOND KNOX | TRUSTEE | 2 | — |
| JOE DOHERTY | TRUSTEE | 2 | — |
| CHRISTOPHER M PALATUCCI PHD | TRUSTEE | 2 | — |
| PHILIP R MORGAN | VICE CHAIRMAN | 2 | — |
| D DAVIDSON EASSON JR | TRUSTEE | 2 | — |
| DAVID R GRENON | TRUSTEE EMERITUS | 2 | — |
| W BLAINE STINE PHD | TRUSTEE | 2 | — |
| IMRAN NASRULLAH | TRUSTEE | 2 | — |
| ABRAHAM W HADDAD DMD FACD | TRUSTEE EMERITUS | 2 | — |
| ZU SHEN | VICE PRESIDENT | 40 | $191,357 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Massachusetts Biomedical Initiatives Inc?
Massachusetts Biomedical Initiatives Inc is a nonprofit organization focused on Science & Technology, based in WORCESTER, MA. It holds $31.3M in total assets as of 2024.
How large is Massachusetts Biomedical Initiatives Inc?
As of 2024, Massachusetts Biomedical Initiatives Inc holds $31.3M in total assets with $5.3M in annual revenue. It awarded 6 grants totaling $212K in 2024.
Where does Massachusetts Biomedical Initiatives Inc operate?
Massachusetts Biomedical Initiatives Inc has awarded grants in District of Columbia, Massachusetts.
What size grants does Massachusetts Biomedical Initiatives Inc award?
In 2024, Massachusetts Biomedical Initiatives Inc awarded 6 grants totaling $212K — an average of about $35K per grant, based on its IRS Form 990 filings.
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.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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