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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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