Nonprofit · EIN 22-2636406
MASSACHUSETTS BIOMEDICAL INITIATIVES
Tax-exempt · WORCESTER, MA 01605
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $5,595,536 | $4,363,262 | $1,232,274 | $33,310,855 | $9,581,171 | $23,729,684 |
| December 31, 2024 | 990 | $5,329,684 | $4,238,815 | $1,090,869 | $31,324,216 | $9,307,339 | $22,016,877 |
| December 31, 2023 | 990 | $6,363,451 | $3,568,461 | $2,794,990 | $29,972,322 | $9,085,090 | $20,887,232 |
| December 31, 2022 | 990 | $4,750,848 | $3,413,396 | $1,337,452 | $23,711,563 | $6,820,626 | $16,890,937 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $1,019,009
- of which government grants
- $930,857
- Program service revenue
- $3,241,333
- Investment income
- $1,164,041
- Net gain from sales of assets
- $294,442
- Other revenue
- $171,153
Expenses
- Grants and similar amounts paid
- $124,825
- Compensation of officers, directors and key employees
- $472,099
- Other salaries and wages
- $636,402
- Salaries, compensation and benefits (total)
- $1,307,359
- Professional fundraising fees
- $0
- Legal fees
- $38,465
- Accounting fees
- $23,340
- Occupancy
- $773,136
- Depreciation
- $1,034,972
- Program services (functional)
- $3,907,177
- Management and general (functional)
- $327,752
- Fundraising (functional)
- $128,333
Balance sheet and other
- Total assets, start of year
- $31,324,216
- Total assets, end of year
- $33,310,855
- Total liabilities, end of year
- $9,581,171
- Net assets, end of year
- $23,729,684
- Land, buildings and equipment
- $15,395,538
- Publicly traded securities
- $12,209,597
- Net assets without donor restrictions
- $23,384,684
- Net assets with donor restrictions
- $345,000
- Gross receipts
- $9,385,522
- Employees
- 15
- Volunteers
- 0
- Year formed
- 1984
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JON WEAVER | PRESIDENT & CEO Trustee or director, Officer | 40 | $273,496 | $39,176 |
| ZU SHEN | EXECUTIVE VICE PRESIDENT, INCUBATION Key employee | 40 | $205,397 | $31,995 |
| CHARLES COWAN | FACILITIES MANAGER Highest-paid employee | 40 | $117,798 | $20,115 |
| KARRI FREELAND | VP, ADMINISTRATION AND FINANCE Highest-paid employee | 40 | $109,254 | $24,020 |
| CHUCK KUNSCH | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT J ANDERSON CPA | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| LAUREN FOSTER | TRUSTEE Trustee or director | 2 | $0 | $0 |
| LINDA MCGOLDRICK | TRUSTEE Trustee or director | 2 | $0 | $0 |
| ALLAN GUO | TRUSTEE Trustee or director | 2 | $0 | $0 |
| SHOBHA PARTHASARATHI | CLERK Trustee or director, Officer | 2 | $0 | $0 |
| JOHN HALLINAN | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| LIZABETH LEVEILLE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| RAYMOND KNOX | TRUSTEE Trustee or director | 2 | $0 | $0 |
| JOHN FX HEFFERNAN | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER M PALATUCCI PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PHILIP R MORGAN | TRUSTEE EMERITUS Trustee or director | 2 | $0 |
| D DAVIDSON EASSON JR | TRUSTEE Trustee or director | 2 | $0 |
| DAVID R GRENON | TRUSTEE EMERITUS Trustee or director | 2 | $0 |
| W BLAINE STINE PHD | TRUSTEE Trustee or director | 2 | $0 |
| IMRAN NASRULLAH | TRUSTEE Trustee or director | 2 | $0 |
| ABRAHAM W HADDAD DMD FACD | TRUSTEE EMERITUS Trustee or director | 2 | $0 |
| JOHN HESSION | TRUSTEE Trustee or director | 2 | $0 |
990 for the year ended December 31, 2024: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JON WEAVER | PRESIDENT & CEO Trustee or director, Officer | 40 | $264,553 | $37,398 |
| ZU SHEN | VICE PRESIDENT Key employee | 40 | $191,357 | $29,930 |
| CHUCK KUNSCH | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT J ANDERSON CPA | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| LAUREN FOSTER | TRUSTEE Trustee or director | 2 | $0 | $0 |
| LINDA MCGOLDRICK | TRUSTEE Trustee or director | 2 | $0 | $0 |
| ALLAN GUO | TRUSTEE Trustee or director | 2 | $0 | $0 |
| SHOBHA PARTHASARATHI | CLERK Trustee or director, Officer | 2 | $0 | $0 |
| JOHN HALLINAN | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| LIZABETH LEVEILLE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| RAYMOND KNOX | TRUSTEE Trustee or director | 2 | $0 | $0 |
| JOE DOHERTY | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER M PALATUCCI PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| PHILIP R MORGAN | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| D DAVIDSON EASSON JR | TRUSTEE Trustee or director | 2 | $0 | $0 |
| DAVID R GRENON | TRUSTEE EMERITUS Trustee or director | 2 | $0 | $0 |
| W BLAINE STINE PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| IMRAN NASRULLAH | TRUSTEE Trustee or director | 2 | $0 | $0 |
| ABRAHAM W HADDAD DMD FACD | TRUSTEE EMERITUS Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JON WEAVER | PRESIDENT & CEO Trustee or director, Officer | 37.5 | $246,000 | $36,560 |
| ZU SHEN | VICE PRESIDENT Key employee | 37.5 | $190,150 | $31,233 |
| CHUCK COWAN | FACILITIES MANAGER Highest-paid employee | 37.5 | $120,650 | $23,011 |
| ABRAHAM W HADDAD DMD FACD | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| ROBERT J ANDERSON CPA | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| GAIL E RADCLIFFE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| LINDA MCGOLDRICK | TRUSTEE Trustee or director | 2 | $0 | $0 |
| ALLAN GUO | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHUCK KUNSCH | CLERK Trustee or director, Officer | 2 | $0 | $0 |
| TIMOTHY JARRY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| LIZABETH LEVEILLE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| PAUL WENGENDER | TRUSTEE Trustee or director | 2 | $0 | $0 |
| SHOBHA PARTHASARATHI | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER M PALATUCCI PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| PHILIP R MORGAN | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| D DAVIDSON EASSON JR | TRUSTEE Trustee or director | 2 | $0 | $0 |
| DAVID R GRENON | TRUSTEE EMERITUS Trustee or director | 2 | $0 | $0 |
| W BLAINE STINE PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| IMRAN NASRULLAH | TRUSTEE Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2022: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JON WEAVER | PRESIDENT & CEO Trustee or director, Officer | 37.5 | $255,500 | $37,210 |
| ZU SHEN | VICE PRESIDENT Key employee | 37.5 | $189,500 | $30,890 |
| ABRAHAM W HADDAD DMD FACD | VICE CHAIRMAN Trustee or director | 2 | $0 | $0 |
| ROBERT J ANDERSON CPA | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| GAIL E RADCLIFFE PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| LINDA MCGOLDRICK | TRUSTEE Trustee or director | 2 | $0 | $0 |
| ALLAN GUO | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHUCK KUNSCH | CLERK Trustee or director, Officer | 2 | $0 | $0 |
| TIMOTHY M JARRYCFACPA | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| LIZABETH LEVEILLE | TRUSTEE Trustee or director | 2 | $0 | $0 |
| TRAVIS MCCREADY | TRUSTEE Trustee or director | 2 | $0 | $0 |
| SHOBA PARTHASARATHI | TRUSTEE Trustee or director | 2 | $0 | $0 |
| PAUL WENGENDER | TRUSTEE Trustee or director | 2 | $0 | $0 |
| CHRISTOPHER M PALATUCCI PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| PHILIP R MORGAN | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| D DAVIDSON EASSON JR | TRUSTEE Trustee or director | 2 | $0 | $0 |
| DAVID R GRENON | TRUSTEE EMERITUS Trustee or director | 2 | $0 | $0 |
| W BLAINE STINE PHD | TRUSTEE Trustee or director | 2 | $0 | $0 |
| IMRAN NASRULLAH | TRUSTEE Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 17 BRIDEN STREET, WORCESTER, MA 01605-2662
- Principal officer (990 for 2025)
- JON WEAVER, 17 BRIDEN STREET, WORCESTER, MA 01605
- Signed the 990
- JON WEAVER, PRESIDENT & CEO
- Phone
- (508) 797-4200
- Website
- WWW.MASSBIOMED.ORG
- Return prepared by
- BOLLUS LYNCH LLP
Mission
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.
Program accomplishments
- 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.Expenses $3,907,177 · grants $124,825 · revenue $3,412,486
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2636406
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U500)
- Assets (IRS master file)
- $33,310,855
- Income (IRS master file)
- $9,385,522
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $5,595,536 | $4,363,262 | $33,310,855 | XML |
| 990 | December 2024 | $5,329,684 | $4,238,815 | $31,324,216 | XML |
| 990 | December 2023 | $6,363,451 | $3,568,461 | $29,972,322 | XML |
| 990 | December 2022 | $4,750,848 | $3,413,396 | $23,711,563 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-2636406).
Questions about MASSACHUSETTS BIOMEDICAL INITIATIVES
- What is the EIN of MASSACHUSETTS BIOMEDICAL INITIATIVES?
- The employer identification number (EIN) of MASSACHUSETTS BIOMEDICAL INITIATIVES is 22-2636406.
- Is MASSACHUSETTS BIOMEDICAL INITIATIVES tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to MASSACHUSETTS BIOMEDICAL INITIATIVES tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MASSACHUSETTS BIOMEDICAL INITIATIVES file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MASSACHUSETTS BIOMEDICAL INITIATIVES due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASSACHUSETTS BIOMEDICAL INITIATIVES last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MASSACHUSETTS BIOMEDICAL INITIATIVES?
- The 990 for the year ended December 31, 2025 names JON WEAVER.
- Who are the officers and directors of MASSACHUSETTS BIOMEDICAL INITIATIVES?
- The 990 for the year ended December 31, 2025 lists 22 people; 4 received compensation from the organization, the highest $273,496 (JON WEAVER, PRESIDENT & CEO).
- How much revenue does MASSACHUSETTS BIOMEDICAL INITIATIVES have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $5,595,536, expenses of $4,363,262 and total assets of $33,310,855 at year end.
Other nonprofits in WORCESTER
- INTERNATIONAL EDUCATIONAL DATA MINING SOCIETY INCORPORATED EIN 45-5008719 · last filed 990-EZ for 2025
- INTERNATIONAL SPACE ACADEMY FOUNDATION INCORPORATED EIN 46-2539779 · last filed 990-N for 2024
- WORCESTER EMS RELIEF ASSOCIATION INC EIN 99-3953020 · last filed 990-N for 2025
- UMASS MEMORIAL HEALTH CARE INC EIN 91-2155626 · last filed 990 for 2025
- FALLON COMMUNITY HEALTH PLAN INC EIN 23-7442369 · last filed 990 for 2024
- UMASS MEMORIAL HEALTH CARE INC EIN 04-3358566 · last filed 990 for 2025
- SEVEN HILLS FOUNDATION INC EIN 91-1969322 · last filed 990 for 2025
- WORCESTER POLYTECHNIC INSTITUTE EIN 04-2121659 · last filed 990 for 2025
All nonprofits in WORCESTER · Massachusetts · Science and technology