2023-10-26T16:16:19-05:00 2022-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-01-01 222693047 MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC MASS 6176745100 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 KENDALLE BURLIN O'CONNELL ESQ PRESIDENT AND COO 6176745100 2023-10-25 1 KENDALLE BURLIN OCONNELL ESQ XXX-XX-XXXX 0 THOMAS F MULDOON CPA P01561688 5083669100 2023-10-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENDALLE BURLIN O'CONNELL 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 16916817 0 X WWW.MASSBIO.ORG X 1985 MA MASSBIO IS COMMITTED TO ADVANCING MASSACHUSETTS' LEADERSHIP IN THE LIFE SCIENCES TO GROW THE INDUSTRY, ADD VALUE TO THE HEALTH CARE SYSTEM AND IMPROVE PATIENT LIVES. 49 47 60 47 0 0 6208103 6903452 8578566 9847661 28709 165704 0 0 14815378 16916817 0 27811 0 0 4713101 6836920 0 0 0 6339266 9013347 11052367 15878078 3763011 1038739 19701937 31306037 3106500 13671861 16595437 17634176 MASSBIO IS COMMITTED TO ADVANCING MASSACHUSETTS' LEADERSHIP IN THE LIFE SCIENCES TO GROW THE INDUSTRY, ADD VALUE TO THE HEALTH CARE SYSTEM AND IMPROVE PATIENT LIVES. 0 0 9847661 MASSACHUSETTS BIOTECHNOLOGY COUNCIL - COSTS INCURRED TO SUPPORT AND PROVIDE A POSITIVE ENVIRONMENT FOR THE BIOTECHNOLOGY INDUSTRY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 40 0 1 60 1 0 0 0 0 1 1 0 0 0 0 0 X 49 47 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KEVIN KELLY VP FINANCE 6176745100 700 TECHNOLOGY SQUARE 5TH FLOOR CAMBRIDGE MA 02139 JOSEPH BONCORE CEO 40.00 1.00 X X 599933 0 29141 KENDALLE LEE BURLIN OCONNELL PRESIDENT & COO 40.00 1.00 X X 526892 0 21376 PAM RANDHAWA CHAIR 0.50 X X 0 0 0 CHRIS GARABEDIAN VICE CHAIR 0.50 X X 0 0 0 MIKE O'HARA TREASURER 0.50 X X 0 0 0 TAMAR THOMPSON CLERK 0.50 X X 0 0 0 LAWRENCE WITTENBERG COUNSEL 0.50 X 0 0 0 DAVID LUCCHINO PAST CHAIR 0.25 X 0 0 0 CHARLES WILSON DIRECTOR/ PAST CHAIR 0.25 X 0 0 0 UDIT BATRA DIRECTOR 0.25 X 0 0 0 CHERYL BLANCHARD DIRECTOR 0.25 X 0 0 0 MELISSA BRADFORD-KLUG DIRECTOR 0.25 X 0 0 0 TIM CLACKSON DIRECTOR 0.25 X 0 0 0 CHIP CLARK DIRECTOR 0.25 X 0 0 0 SHARON CLOAD DIRECTOR 0.25 X 0 0 0 JASON COLE DIRECTOR 0.25 X 0 0 0 JOHN DUNLOP DIRECTOR 0.25 X 0 0 0 JEFFREY ELTON DIRECTOR 0.25 X 0 0 0 BARBARA FOX DIRECTOR 0.25 X 0 0 0 GARY GILLHEENEY DIRECTOR 0.25 X 0 0 0 LUBA GREENWOOD DIRECTOR 0.25 X 0 0 0 JC GUTIERREZ-RAMOS DIRECTOR 0.25 X 0 0 0 SUSAN HAGER DIRECTOR 0.25 X 0 0 0 MARTIN HEIDECKER DIRECTOR 0.25 X 0 0 0 EDWARD KAYE DIRECTOR 0.25 X 0 0 0 CHRIS LEIBMAN DIRECTOR 0.25 X 0 0 0 LIZABETH LEVEILLE DIRECTOR 0.25 X 0 0 0 LIZ LEWIS DIRECTOR 0.25 X 0 0 0 BILL MCDERMOTT DIRECTOR 0.25 X 0 0 0 DAVID MEEKER DIRECTOR 0.25 X 0 0 0 CHRISTOPHER MURPHY DIRECTOR 0.25 X 0 0 0 GILMORE O'NEILL DIRECTOR 0.25 X 0 0 0 CYNTHIA PERETTIE DIRECTOR 0.25 X 0 0 0 ADELENE PERKINS DIRECTOR 0.25 X 0 0 0 ALICE POMPONIO DIRECTOR 0.25 X 0 0 0 CHANDRA RAMANATHAN DIRECTOR 0.25 X 0 0 0 ERIC RASMUSSEN DIRECTOR 0.25 X 0 0 0 RICK RUSSELL DIRECTOR 0.25 X 0 0 0 AMIT SACHDEV DIRECTOR 0.25 X 0 0 0 BILL SIBOLD DIRECTOR 0.25 X 0 0 0 KUMAR SRINIVASAN DIRECTOR 0.25 X 0 0 0 REHAN VERJEE DIRECTOR 0.25 X 0 0 0 KERRY WENTWORTH DIRECTOR 0.25 X 0 0 0 ROBERT GOTTLIEB DIRECTOR 0.25 X 0 0 0 MICHAL PREMINGER DIRECTOR 0.25 X 0 0 0 EILEEN ELLIOT DIRECTOR 0.25 X 0 0 0 CHRIS ROUND DIRECTOR 0.25 X 0 0 0 ROBERT COUGHLIN DIRECTOR 0.25 X 0 0 0 ALAN EISENBERG DIRECTOR 0.25 X 0 0 0 ZACHARY A STANLEY VP OF POLICY 40.00 X 292527 0 32704 JASON M CORDEIRO VP OF OPERATIONS 40.00 X 286582 0 29936 GAURI R NAIR VP OF INNOVATION 40.00 X 248305 0 23294 BENJAMIN M BRADFORD VP OF MEMBERSHIP 40.00 X 242571 0 29954 KEVIN KELLY VP OF FINANCE 40.00 X 214858 0 11610 2411668 0 178015 21 0 1 0 SEBASTIANS 580 MAIN STREET SUITE 1 BOLTON MA 01740 FOOD & BEVERAGE SERVICES 432273 CAPITAL COUNSEL LLC 700 13TH STREET NW STE 200 WASHINGTON DC 20005 CONSULTING SERVICES 225000 MIDNIGHT BRUNCH LLC 74 G STREET DRACUT MA 01826 VIDEO PRODUCTION SERVICES 176667 JOHN HEFFERNAN 15 CLIFTON AVENUE MARBLEHEAD MA 01945 CONSULTING SERVICES 150000 FOLEY HOAG LLP 155 SEAPORT BLVD BOSTON MA 02110 CONSULTING LOBBYING SERVICES 122285 7 6458452 445000 6903452 CONSORTIUM REBATES 813910 7267226 7267226 SPONSORSHIP FEES 813910 1660769 1660769 ATTENDANCE FEES 813910 818326 818326 OTHER PROGRAM REVENUE 813910 101340 101340 9847661 165704 165704 16916817 9847661 0 165704 X 27811 1177342 4597324 158224 548333 355697 8159 29350 2113452 251592 429475 634626 2196248 579555 5418 824343 EVENT COSTS 1173717 BAD DEBT 444074 DUES AND SUBSCRIPTIONS 253034 MEALS AND ENTERTAINMENT 38940 31364 15878078 426288 380100 12764284 15439962 2167977 2803423 180576 405711 5308355 2171227 3807842 3137128 354970 9139713 19701937 31306037 460387 1052249 1721284 2456721 924829 10162891 3106500 13671861 X 15624496 17186727 970941 447449 16595437 17634176 19701937 31306037 1038739 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 6458452 2964997 2964997 2012204 952793 3395158 878058 2517100 1137433 880995 256438 775764 412174 363590 3137128 DUE FROM RELATED PARTY 46355 RIGHT-OF-USE ASSET- OPERATING LEASE 9093358 9139713 REFUNDABLE ADVANCES 426255 CURRENT PORTION OF OPERATING LEASE OBLIGATIONS 9736636 10162891 X 16555954 0 16555954 360863 360863 16916817 15517215 -360863 -360863 15878078 0 15878078 PART X, LINE 2: MASSBIO ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MASSBIO HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT DECEMBER 31, 2022. MASSBIO'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: DUES ALLOCATION TO MBEF 360,863. PART XII, LINE 2D - OTHER ADJUSTMENTS: DUES ALLOCATION TO MBEF -360,863. PART XI, LINE 4B & PART XII, LINE 2D RECONCILIATION OF REVENUES AND EXPENSES FROM FINANCIAL STATEMENTS TO TAX RETURN INCLUDES $360,863 NET DUES ALLOCATION TO MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION. X X X 0 0 0 JOSEPH BONCORE CEO 599933 0 0 0 0 0 0 0 29141 0 629074 0 0 0 KENDALLE LEE BURLIN OCONNELL PRESIDENT & COO 526892 0 0 0 0 0 20500 0 876 0 548268 0 0 0 ZACHARY A STANLEY VP OF POLICY 292527 0 0 0 0 0 20500 0 12204 0 325231 0 0 0 JASON M CORDEIRO VP OF OPERATIONS 286582 0 0 0 0 0 14334 0 15602 0 316518 0 0 0 BENJAMIN M BRADFORD VP OF MEMBERSHIP 242571 0 0 0 0 0 17671 0 12283 0 272525 0 0 0 GAURI R NAIR VP OF INNOVATION 248305 0 0 0 0 0 22245 0 1049 0 271599 0 0 0 KEVIN KELLY VP OF FINANCE 214858 0 0 0 0 0 9415 0 2195 0 226468 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC IS A MEMBERSHIP ORGANIZATION. MEMBERS ARE REQUIRED TO MAKE ANNUAL PAYMENTS FOR THEIR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS WHO HAVE PAID THEIR ANNUAL MEMBERSHIP FEES ARE ENTITLED TO ONE VOTE. BOARD MEMBERS ARE NOMINATED BY THEIR PEERS AND ARE VOTED BY MEMBERS DURING THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B MASSBIO'S BOARD TREASURER REVIEWS THE ORGANIZATION'S 990 AND PROVIDED HIS/HER RECOMMENDATION TO MASSBIO'S EXECUTIVE COMMITTEE FOR APPROVAL. COPIES TO THE 990 ARE AVAILABLE TO THE EXEC. COMMITTEE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ALL MASSBIO BOARD MEMBERS AND STAFF ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST FORM ANNUALLY. MANAGEMENT TRACKS FORM SIGNING TO INSURE FULL COMPLIANCE. RELATED PARTY TRANSACTIONS ARE COMPILED AND DISCLOSED IN THE AUDITED FINANCIALS AND FORM 990 WHICH ARE REVIEWED BY THE BOARD OR BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT COMPENSATION: THE EXECUTIVE COMMITTEE OF THE BOARD EMPLOYED AN EXECUTIVE COMPENSATION CONSULTANT IN 2019 TO EVALUATE MASSBIO CEO COMPENSATION AND TO RECOMMEND CHANGES BASED ON THEIR WORK. THAT STUDY RECOMMENDED CERTAIN CHANGES TO CEO COMPENSATION BASED ON COMPARABLE ORGANIZATIONS' COMPENSATION PRACTICES. MASSBIO ADOPTED THE RECOMMENDED CHANGES FOR 2019 AND 2020. FORM 990, PART VI, SECTION C, LINE 19 MASSBIO MAKES ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 2,113,452. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED IN 2022. MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC 255 MAIN STREET 8TH FLOOR CAMBRIDGE MA 02142 223799632 TO ENCOURAGE GROWTH OF BIOTECHNOLOGY EDUCATION IN MASSACHUSETTS SCHOOLS. MA 501(C)(3) LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC B 360863 GRANTS TO MASSBIO ED MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC Q 1095898 REIMBURSE FOR MA BIO ED PAYROLL