Massachusetts Biomedical Initiatives
Massachusetts Biomedical Initiatives: Strong Growth, High Program Spending
EIN: 222636406 · Worcester, MA · NTEE: U500 · Updated: 2026-04-04
Is Massachusetts Biomedical Initiatives Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Massachusetts Biomedical Initiatives directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Massachusetts Biomedical Initiatives
Massachusetts Biomedical Initiatives (EIN: 222636406) is a nonprofit organization based in Worcester, MA, classified under NTEE code U500. The organization reported total revenue of $6.2M and total assets of $31.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Massachusetts Biomedical Initiatives's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Massachusetts Biomedical Initiatives with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Massachusetts Biomedical Initiatives allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, but the 0% compensation from related parties suggests a focus on mission rather than excessive insider payments.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Massachusetts Biomedical Initiatives:
- Consistent revenue growth from $1.7M in 2016 to $6.3M in 2023, demonstrating increasing financial capacity.
- Significant asset growth from $10.2M in 2016 to $29.9M in 2023, indicating strong financial health and investment.
- Low liability-to-asset ratio, with liabilities at $9.0M against assets of $29.9M in 2023, suggesting good financial management.
- High percentage of expenses dedicated to programs (85%), indicating a strong focus on its core mission.
Frequently Asked Questions about Massachusetts Biomedical Initiatives
Is Massachusetts Biomedical Initiatives a legitimate charity?
Based on AI analysis of IRS 990 filings, Massachusetts Biomedical Initiatives (EIN: 222636406) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Massachusetts Biomedical Initiatives spend its money?
Massachusetts Biomedical Initiatives directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Massachusetts Biomedical Initiatives tax-deductible?
Massachusetts Biomedical Initiatives is registered as a tax-exempt nonprofit (EIN: 222636406). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Massachusetts Biomedical Initiatives do?
Massachusetts Biomedical Initiatives is a nonprofit organization in the Science & Technology sector, located in Worcester, Massachusetts. It is classified under NTEE code U500.
How much revenue does Massachusetts Biomedical Initiatives have?
Massachusetts Biomedical Initiatives reported total revenue of $6,194,356. Based on 13 IRS 990 filings on record.
What are Massachusetts Biomedical Initiatives's total assets?
Massachusetts Biomedical Initiatives holds total assets of $31,324,216 as reported in IRS 990 filings.
Where is Massachusetts Biomedical Initiatives located?
Massachusetts Biomedical Initiatives is based in Worcester, Massachusetts.
What is Massachusetts Biomedical Initiatives's EIN?
Massachusetts Biomedical Initiatives's Employer Identification Number (EIN) is 222636406. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Massachusetts Biomedical Initiatives?
Massachusetts Biomedical Initiatives is classified under NTEE code U500 (Science & Technology).
Is Massachusetts Biomedical Initiatives a registered 501(c)(3)?
Yes, Massachusetts Biomedical Initiatives is recognized as a tax-exempt organization by the IRS. EIN: 222636406.
Does Massachusetts Biomedical Initiatives file IRS Form 990?
Yes, Massachusetts Biomedical Initiatives has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Massachusetts Biomedical Initiatives's revenue in 2023?
In the 202312 filing period, Massachusetts Biomedical Initiatives reported total revenue of $6,363,451, total expenses of $3,568,461, and net assets of $29,972,322.
Is Massachusetts Biomedical Initiatives's revenue growing or declining?
Massachusetts Biomedical Initiatives's revenue is growing. Revenue went from $4,750,848 (202212) to $6,363,451 (202312), a +33.9% change. Based on 13 filings on record.
What is Massachusetts Biomedical Initiatives's most recent 990 filing?
The most recent IRS Form 990 filing for Massachusetts Biomedical Initiatives covers tax period 202312. It shows revenue of $6,363,451, expenses of $3,568,461, total assets of $29,972,322, and liabilities of $9,085,090.
How much does Massachusetts Biomedical Initiatives spend on programs vs administration?
Based on IRS 990 analysis, Massachusetts Biomedical Initiatives allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Massachusetts Biomedical Initiatives a trustworthy charity?
Based on AI analysis of IRS 990 data, Massachusetts Biomedical Initiatives appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Massachusetts Biomedical Initiatives's strengths?
Positive indicators for Massachusetts Biomedical Initiatives include: Consistent revenue growth from $1.7M in 2016 to $6.3M in 2023, demonstrating increasing financial capacity.. Significant asset growth from $10.2M in 2016 to $29.9M in 2023, indicating strong financial health and investment.. Low liability-to-asset ratio, with liabilities at $9.0M against assets of $29.9M in 2023, suggesting good financial management.. High percentage of expenses dedicated to programs (85%), indicating a strong focus on its core mission.. These findings are derived from AI analysis of the organization's financial filings.
How does Massachusetts Biomedical Initiatives compensate executives?
Executive compensation is not explicitly detailed in the provided data, but the 0% compensation from related parties suggests a focus on mission rather than excessive insider payments. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has Massachusetts Biomedical Initiatives managed to achieve such consistent and substantial growth in both revenue and assets over the past seven years?
The data shows a steady increase in revenue from $1,776,600 in 2016 to $6,363,451 in 2023, and assets from $10,282,839 to $29,972,322 over the same period. This sustained growth suggests effective strategic planning, successful fundraising, and potentially increasing demand for its services within the biomedical sector.
Given the significant increase in total expenses from $1,693,667 in 2016 to $3,568,461 in 2023, what specific areas within 'programs' have seen the most substantial investment?
While the data indicates a high percentage of spending on programs (85%), the specific breakdown of program investments is not detailed. However, the overall increase in expenses suggests an expansion of services or increased operational costs associated with its growing mission.
Filing History
IRS 990 filing history for Massachusetts Biomedical Initiatives showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Massachusetts Biomedical Initiatives's revenue has grown by 359.1%, moving from $1.4M to $6.4M. Total assets increased by 205% over the same period, from $9.8M to $30.0M. Total functional expenses rose by 116.7%, from $1.6M to $3.6M. In its most recent filing year (2023), Massachusetts Biomedical Initiatives reported a surplus of $2.8M, with revenue exceeding expenses. The organization holds $9.1M in liabilities against $30.0M in assets (debt-to-asset ratio: 30.3%), resulting in net assets of $20.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $6.4M | $3.6M | $30.0M | $9.1M | — | — |
| 2022 | $4.8M | $3.4M | $23.7M | $6.8M | — | View 990 |
| 2021 | $4.3M | $2.9M | $18.5M | $672K | — | View 990 |
| 2020 | $6.0M | $2.2M | $17.5M | $842K | — | — |
| 2019 | $2.8M | $1.9M | $12.8M | $796K | — | View 990 |
| 2018 | $1.7M | $1.6M | $10.3M | $253K | — | View 990 |
| 2017 | $1.9M | $1.6M | $11.4M | $123K | — | — |
| 2016 | $1.8M | $1.7M | $10.3M | $176K | — | View 990 |
| 2015 | $1.6M | $1.7M | $10.4M | $500K | — | View 990 |
| 2014 | $2.1M | $1.8M | $10.8M | $657K | — | View 990 |
| 2013 | $2.0M | $1.8M | $10.8M | $708K | — | View 990 |
| 2012 | $1.8M | $1.3M | $10.8M | $1.4M | — | View 990 |
| 2011 | $1.4M | $1.6M | $9.8M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.4M, expenses of $3.6M, and assets of $30.0M (revenue +33.9% year-over-year).
- 2022: Revenue of $4.8M, expenses of $3.4M, and assets of $23.7M (revenue +9.6% year-over-year).
- 2021: Revenue of $4.3M, expenses of $2.9M, and assets of $18.5M (revenue -27.2% year-over-year).
- 2020: Revenue of $6.0M, expenses of $2.2M, and assets of $17.5M (revenue +111.5% year-over-year).
- 2019: Revenue of $2.8M, expenses of $1.9M, and assets of $12.8M (revenue +61.6% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.6M, and assets of $10.3M (revenue -7.0% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.6M, and assets of $11.4M (revenue +5.5% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.7M, and assets of $10.3M (revenue +11.6% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.7M, and assets of $10.4M (revenue -23.6% year-over-year).
- 2014: Revenue of $2.1M, expenses of $1.8M, and assets of $10.8M (revenue +5.8% year-over-year).
- 2013: Revenue of $2.0M, expenses of $1.8M, and assets of $10.8M (revenue +8.7% year-over-year).
- 2012: Revenue of $1.8M, expenses of $1.3M, and assets of $10.8M (revenue +30.7% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.6M, and assets of $9.8M.
Data Sources and Methodology
This transparency report for Massachusetts Biomedical Initiatives is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.