Overview
What is Mansfield Bio-Incubator Inc?
Mansfield Bio-Incubator Inc, headquartered at 241 Francis Street, Mansfield, Massachusetts 02048, is a nonprofit organization dedicated to fostering innovation in the realms of biotechnology, medical, and life sciences. With a team of just two individuals, this organization provides rental space for laboratory facilities and related areas, aiming to stimulate groundbreaking research and educational initiatives in these fields. The mission of Mansfield Bio-Incubator Inc is to promote the generation of novel ideas and knowledge, contributing to the advancement of these critical sectors.
Official website here: www.mansfieldbioincubator.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Mansfield Bio-Incubator Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 60%. This indicates that while the organization performs some functions adequately, there are several key areas that need significant improvement, particularly in governance and transparency. The organization scores well in financial oversight and has shown no material diversion of assets, which reflects some level of accountability.
However, the ratings reveal notable weaknesses, including a lack of independent board members, with only 33% of the board being independent. Furthermore, critical policies such as conflict of interest, whistleblower, and document retention are missing, which raises concerns about the organization’s governance practices. Additionally, while the organization posts board meeting minutes, it does not make its tax form available on its website, which is a missed opportunity for transparency.
Financially, the organization maintains a reasonable liabilities to assets ratio and a decent program expense ratio, suggesting that a majority of its expenses go toward its programs. Nevertheless, the overall governance and transparency issues highlighted in the rating suggest that Mansfield Bio-Incubator Inc needs to address these limitations to build trust and reliability with its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Mansfield Bio-Incubator Inc legitimate?
Mansfield Bio-Incubator Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mansfield Bio-Incubator 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: $186,416
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mansfieldbioincubator.com
What is the mission statement of Mansfield Bio-Incubator Inc?
Mansfield Bio-Incubator Inc is dedicated to fostering innovative research and education in the sectors of biotechnology, medical, and life sciences. This mission is accomplished through the provision of laboratory and related space, serving as a catalyst for groundbreaking discoveries and knowledge expansion in these fields. The organization's primary goal is to contribute to the advancement of scientific understanding and technological developments in these disciplines.
Official website here: www.mansfieldbioincubator.com
Who is the CEO of Mansfield Bio-Incubator Inc?
Rustam Yukhananov is the President of Mansfield Bio-Incubator Inc.
Official website here: www.mansfieldbioincubator.com
What is the revenue of Mansfield Bio-Incubator Inc?
Mansfield Bio-Incubator Inc's revenue in 2022 was $1,865,495.
Official website here: www.mansfieldbioincubator.com
Who are the executives of Mansfield Bio-Incubator Inc and what are their salaries?
The average compensation at Mansfield Bio-Incubator Inc during 2022 was $93,208. There are 2 employees and 3 volunteers at Mansfield Bio-Incubator Inc.
Here are 4 key members and their salaries:
- Compensation: $163,682
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $22,734
- Related: $0
- Other: $0
Official website here: www.mansfieldbioincubator.com
Where can I find the form 990 for Mansfield Bio-Incubator Inc?
Mansfield Bio-Incubator Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mansfieldbioincubator.com
Learn more at the official website: www.mansfieldbioincubator.com
Mission Statement of Mansfield Bio-Incubator Inc
Mansfield Bio-Incubator Inc, a distinguished entity, is dedicated to fostering innovation in the realms of biotechnology, medical, and life sciences. Their primary mission is to assist in the generation of groundbreaking research and education within these fields. The organization accomplishes this by providing rental spaces for laboratories and related facilities, serving as a hub for ambitious scientists and researchers to advance their work. Mansfield Bio-Incubator Inc plays a vital role in nurturing the development of new ideas and knowledge, ultimately contributing to advancements in various scientific disciplines.
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Impact
July, 2024
Mansfield Bio-Incubator Inc's impact is centered around fostering innovation and advancement in the fields of biotechnology, medical, and life sciences. By providing rental space for laboratories and related facilities, the organization facilitates the generation of cutting-edge research and educational initiatives in these critical sectors. Through its mission to support innovative research and education, Mansfield Bio-Incubator Inc plays a pivotal role in driving progress and breakthroughs in science research, ultimately contributing to the development of new technologies and solutions that can improve human health and well-being.
This information is meant to be a general summary of Mansfield Bio-Incubator 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.
- Program Service Revenue: $851,058
- Gross Receipts: $1,865,495
Assets and Liabilities:
- Total Assets: $7,697,761
- Total Liabilities: $3,968,637
- Net Assets: $3,729,124
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$851,058
Organization Details
Founding Year
2014
Phone
(888) 490-4443Principal Officer
Rustam Yukhananov
Main Address
241 FRANCIS STREET, MANSFIELD, MA, 02048
NTEE Category
Code: U02 - Science research
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