Massachusetts Biomedical Initiatives
Massachusetts Biomedical Initiatives
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About this organization
Mission
Massachusetts Biomedical Initiatives (MBI) is dedicated to job creation and retention throughout Massachusetts by promoting the growth of start-up biomedical companies. MBI is committed to collaborating with the academic, business and government communities to promote Massachusetts as the world leader in the life & health sciences industry.
About
MBI provides company incubation services for biomedical companies including biotechnology, medical device, and bioinformatics. MBI provides flexible laboratory spaces, shared equipment, health and safety services, and business support to help startup companies expand, create jobs, and expand the tax base. MBI operates three incubator locations within Worcester, MA totaling 25,000 sf. MBI is also involved in area economic development including supporting the development of Gateway Park, a mixed-use park focusing on the life science industry and more recently the development of the Worcester Biomanufacturing Park, a business park focused on supporting the growth of the advanced manufacturing cluster in Worcester, MA.
Interesting data from their 2019 990 filing
The filing clearly states the mission of the non-profit as “Mbi is a private, independent economic development organization that serves as a catalyst for life science and healthcare innovation. we help start biomedical companies and create jobs within the biotechnology, medical device, informatics, and biomanufacturing industry by providing secure, clean bench and sink surface, staff trained and fully licensed laboratory space for usage by "seed stage" companies. building and maintaining collaborative affiliations and partnerships are essential to our success.”.
When outlining its functions, they were explained as: “Massachusetts biomedical initiatives (mbi) is dedicated to job creation and innovative healthcare throughout massachusetts by promoting the growth of start-up biomedical companies. mbi is committed to collaborating with the academic, business and government communities to promote massachusetts as the world leader in the life & health sciences industry.”.
- In compliance with legal regulations, the non-profit has reported their state of operation as MA.
- The filing records the non-profit's address for 2019 as 60 PRESCOTT STREET, WORCESTER, MA, 01605.
- As of 2019, the non-profit's form reports a total of 5 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $96,752.
- The organization has 21 independent voting members.
- The organization was formed in 1984.
- The organization pays $674,574 in salary, compensation, and benefits to its employees.
- The organization pays $25,822 in fundraising expenses.