Overview
What is Michigan Biotechnology Institute?
The Michigan Biotechnology Institute is a private, non-profit organization situated in East Lansing, Michigan. Its primary mission is to address agricultural, industrial, and environmental market needs by developing and commercializing promising biobased technologies. The institute collaborates with universities, governments, foundations, and companies to accelerate the commercialization of these technologies, aiming to create significant societal benefits. The Michigan Biotechnology Institute bridges the gap between early-stage innovation and commercial application, de-risking, developing, and scaling up discoveries into commercially viable technology packages. By providing business and technical expertise, the institute ultimately demonstrates techno-economic viability at pilot scale, preparing the technologies for transition to commercial partners.
Official website here: www.msufoundation.org/mbi
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
The Michigan Biotechnology Institute has earned a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. This rating is entirely based on the organization's performance in the Accountability & Finance category, which scored 76%. Highlights include a perfect score for material diversion of assets, meaning the institute has not misallocated resources, and a favorable liabilities to assets ratio of just 0.06%.
The organization demonstrates strong governance with comprehensive policies in place, including conflict of interest and whistleblower policies, both of which received full points. Additionally, the program expense ratio is commendable at 69.09%, reflecting a significant portion of its expenses directed toward its mission-related activities. However, the salary of key personnel, such as the president and chair, is relatively high, which could be a consideration for potential donors.
While the Michigan Biotechnology Institute shows robust financial practices and transparency, potential supporters might want to weigh the executive compensation against the overall impact of the organization. Overall, the nonprofit stands on a strong foundation of accountability, but it may benefit from communicating its value and effectiveness more clearly to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Michigan Biotechnology Institute legitimate?
Michigan Biotechnology Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Michigan Biotechnology Institute 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.msufoundation.org/mbi
What is the mission statement of Michigan Biotechnology Institute?
The Michigan Biotechnology Institute's mission is to bridge the gap between early-stage innovations and commercial applications. They achieve this by partnering with various entities to de-risk, develop, and scale up discoveries into commercially viable technology packages. The institute's goal is to create meaningful societal benefits by collaborating with universities, governments, foundations, and companies to accelerate the commercialization of biobased technologies. By providing business and technical expertise, Michigan Biotechnology Institute helps develop and de-risk early-stage biobased technologies, ultimately demonstrating techno-economic viability at pilot scale and preparing them for transition to commercial partners.
Official website here: www.msufoundation.org/mbi
Who is the CEO of Michigan Biotechnology Institute?
David Washburn is the President & Chair of Michigan Biotechnology Institute.
Official website here: www.msufoundation.org/mbi
What is the revenue of Michigan Biotechnology Institute?
Michigan Biotechnology Institute's revenue in 2022 was $47,911.
Official website here: www.msufoundation.org/mbi
Who are the executives of Michigan Biotechnology Institute and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $391,066
- Other: $56,480
- Compensation: $0
- Related: $146,282
- Other: $34,514
Official website here: www.msufoundation.org/mbi
Where can I find the form 990 for Michigan Biotechnology Institute?
Michigan Biotechnology Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.msufoundation.org/mbi
Learn more at the official website: www.msufoundation.org/mbi
Mission Statement of Michigan Biotechnology Institute
Michigan Biotechnology Institute, as a private, not-for-profit organization, is dedicated to bridging the gap between early-stage innovation and commercial application. Their mission revolves around partnering with universities, governments, foundations, and companies to accelerate the commercialization of biobased technologies. By doing so, they aim to create meaningful societal benefits. Michigan Biotechnology Institute provides business and technical expertise to de-risk and develop early-stage biobased technologies, ultimately demonstrating techno-economic viability at a pilot scale. This preparation then enables the technologies to transition to commercial partners, thereby meeting the agricultural, industrial, and environmental market needs. The institute's primary goal is to collaborate with various entities to foster the growth of commercially viable technology packages, contributing to a more sustainable and innovative future.
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Impact
August, 2024
Michigan Biotechnology Institute's impact lies in its crucial role in bridging the gap between early-stage innovation and commercial application. By partnering to de-risk, develop, and scale-up discoveries into commercially viable technology packages, MBI plays a significant role in advancing bio-based technologies for agricultural, industrial, and environmental markets. Through collaborations with universities, governments, foundations, and companies, MBI accelerates the commercialization of bio-based technologies to create meaningful societal benefits. MBI provides essential business and technical expertise to develop and de-risk early-stage technologies, demonstrating their techno-economic viability at pilot scale and preparing them for transition to commercial partners. This impactful work contributes to the advancement of bio-based industries and the overall promotion of sustainable solutions.
This information is meant to be a general summary of Michigan Biotechnology Institute. 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: -$3,241
- Gross Receipts: $51,152
Assets and Liabilities:
- Total Assets: $718,619
- Total Liabilities: $484
- Net Assets: $718,135
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Organization Details
Founding Year
1981
Phone
(517) 353-9268Principal Officer
David Washburn
Main Address
325 E GRAND RIVER AVE 275, EAST LANSING, MI, 48823
Website
www.msufoundation.org/mbiNTEE Category
Code: B43I - Education
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