Overview
What is Massachusetts Biotechnology Council Inc?
Massachusetts Biotechnology Council Inc, situated in Cambridge, Massachusetts, is a renowned nonprofit organization with a mission to foster a favorable environment for the biotechnology industry. With a team of 60 dedicated individuals, they aim to promote Massachusetts as a leading player in the life sciences sector. Through education, meetings, and policy formation, MASSBIO strives to expand the industry, enrich the healthcare system, and ultimately enhance patient lives.
Official website here: www.massbio.org
What are the reviews and ratings of this charity?
The Massachusetts Biotechnology Council Inc is currently not rated by Charity Navigator due to its status as a non-501(c)(3) organization. Charity Navigator ratings are typically based on beacons such as Accountability & Finance, and Impact & Measurement, which cannot be applied here. The absence of a rating should not be interpreted as either a positive or negative assessment of the organization.
The organization is independently operated, not affiliated with any national or regional entity, and its operational data such as total revenue, expenses, and key personnel salaries are not available through Charity Navigator. This limitation makes it challenging to evaluate their financial health or operational effectiveness using standard metrics.
Since the Massachusetts Biotechnology Council Inc is not a 501(c)(3), it is not subject to assessments under various methodologies including Culture & Community, Leadership & Adaptability. Consequently, little detailed information about the organization’s operations and impact is accessible through Charity Navigator. There are no user reviews available on GreatNonprofits to provide more insight from individual perspectives.
Is Massachusetts Biotechnology Council Inc legitimate?
Massachusetts Biotechnology Council Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Massachusetts Biotechnology Council Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,177,342
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,597,324
For more financial information, click here
Official website here: www.massbio.org
What is the mission statement of Massachusetts Biotechnology Council Inc?
The Massachusetts Biotechnology Council Inc is dedicated to promoting Massachusetts' position at the forefront of the life sciences industry. Their commitment extends to growing the industry, enhancing the healthcare system, and improving patient lives. The Council focuses on education, meetings, and policy formation to create a favorable environment for the biotechnology sector. Their actions aim to add value to the healthcare system and positively impact patient outcomes.
Official website here: www.massbio.org
Who is the CEO of Massachusetts Biotechnology Council Inc?
Kendalle Burlin O'Connell is the Principal Officer of Massachusetts Biotechnology Council Inc. The CEO's salary of Massachusetts Biotechnology Council Inc is $599,933 and their total compensation is $629,074.
Official website here: www.massbio.org
What is the revenue of Massachusetts Biotechnology Council Inc?
Massachusetts Biotechnology Council Inc's revenue in 2022 was $16,916,817.
Official website here: www.massbio.org
Who are the executives of Massachusetts Biotechnology Council Inc and what are their salaries?
The average compensation at Massachusetts Biotechnology Council Inc during 2022 was $96,244. There are 60 employees and 47 volunteers at Massachusetts Biotechnology Council Inc.
Here are 54 key members and their salaries (Massachusetts Biotechnology Council Inc's CEO's salary is $599,933 and their total compensation is $629,074):
- Compensation: $599,933
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- Compensation: $214,858
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- Other: $11,610
Official website here: www.massbio.org
Where can I find the form 990 for Massachusetts Biotechnology Council Inc?
Massachusetts Biotechnology Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.massbio.org
Learn more at the official website: www.massbio.org
Mission Statement of Massachusetts Biotechnology Council Inc
Massachusetts Biotechnology Council Inc, also known as MASSBIO, is a dedicated organization that is committed to championing Massachusetts' prominence in the life sciences sector. By fostering an environment conducive to growth, MASSBIO strives to expand the industry, enhance the healthcare system, and ultimately improve patient lives. The Council's unwavering mission is to propel Massachusetts into a leading position in the life sciences field.
MASSBIO's efforts focus on several key areas. First and foremost, it invests in education, organizing events, and shaping policy to support the biotechnology industry. Through these initiatives, the Council fosters an ecosystem that encourages innovation, collaboration, and progress within the sector. Additionally, MASSBIO's work adds value to the healthcare system by advocating for policies that benefit patients and the industry as a whole. Lastly, the organization's commitment extends to directly improving patient lives by promoting advancements in the life sciences field.
MASSBIO's influence is felt in various ways. It provides a platform for industry professionals to connect, collaborate, and learn from one another, fostering a vibrant community within the life sciences sector. Furthermore, the organization's advocacy efforts shape policies that support the growth and development of the industry, ensuring that Massachusetts remains a hub for life sciences innovation. In summary, Massachusetts Biotechnology Council Inc is a vital catalyst for the life sciences industry in Massachusetts, driving growth, adding value to the healthcare system, and ultimately, improving patient lives.
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Impact
October, 2024
The Massachusetts Biotechnology Council Inc (MassBio) plays a crucial role in enhancing the biotechnology sector in Massachusetts. By fostering an environment conducive to innovation and growth, MassBio is dedicated to maintaining the state's leadership in the life sciences. Their efforts focus on creating educational opportunities, hosting meetings, and shaping policies that positively impact the biotechnology landscape.
Through these initiatives, MassBio not only supports industry growth but also aims to add value to the healthcare system and improve patient outcomes. By bringing together stakeholders, promoting collaboration, and advocating for the industry, MassBio contributes significantly to community improvement and strengthens Massachusetts' position as a global hub for biotechnology. This synergy ultimately leads to advancements in healthcare and better quality of life for patients.
This information is meant to be a general summary of Massachusetts Biotechnology Council Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $165,704
- Program Service Revenue: $9,847,661
- Gross Receipts: $16,916,817
Assets and Liabilities:
- Total Assets: $31,306,037
- Total Liabilities: $13,671,861
- Net Assets: $17,634,176
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSORTIUM REBATES
Revenue
$7,267,226
SPONSORSHIP FEES
Revenue
$1,660,769
ATTENDANCE FEES
Revenue
$818,326
OTHER PROGRAM REVENUE
Revenue
$101,340
Organization Details
Founding Year
1985
Phone
(617) 674-5100Principal Officer
Kendalle Burlin O'Connell
Main Address
700 TECHNOLOGY SQUARE 5TH FLOOR, CAMBRIDGE, MA, 02139
Website
www.massbio.orgNTEE Category
Code: S41 - Community improvement
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