2015-06-08T14:03:47-05:00 2014-12-31 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2014-01-01 222693047 MASSACHUSETTS BIOTECHNOLOGY COUNCIL INC MASS 6176745100 300 TECHNOLOGY SQUARE 8TH FLOOR CAMBRIDGE MA 02139 ROBERT COUGHLIN PRESIDENT 6176745100 2015-06-08 1 YEVGENIYA GORLOVSKY-SCHEPP CPA P01485484 5083669100 2015-06-05 2014 2016-02-25 16:41:14Z ROBERT COUGHLIN 300 TECHNOLOGY SQUARE 8TH FLOOR CAMBRIDGE MA 02139 5929542 0 X WWW.MASSBIO.ORG X 1985 MA ATO FOSTER A POSITIVE ENVIRONMENT THAT ENABLES EACH BIOTECHNOLOGY COMPANY TO ACHIEVE ITS FULL POTENTIAL, MAKING MASSACHUSETTS A WORLD RENOWNED CENTER FOR BIOTECHNOLOGY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. 33 32 34 117 0 0 2918790 3032083 2362179 2880376 19636 17083 0 0 5300605 5929542 100000 102700 0 0 2861728 2987895 0 0 0 2318403 2175601 5280131 5266196 20474 663346 6831209 7964128 1037463 1507036 5793746 6457092 TO FOSTER A POSITIVE ENVIRONMENT THAT ENABLES EACH BIOTECHNOLOGY COMPANY TO ACHIEVE ITS FULL POTENTIAL, MAKING MASSACHUSETTS A WORLD RENOWNED CENTER FOR BIOTECHNOLOGY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. 0 0 4547543 102700 2880376 MASSACHUSETTS BIOTECHNOLOGY COUNCIL - COSTS INCURRED TO SUPPORT AND PROVIDE A POSITIVE ENVIRONMENT FOR THE BIOTECHNOLOGY INDUSTRY THROUGH EDUCATION, MEETINGS, AND POLICY FORMATION. 4547543 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 17 0 34 1 0 0 0 0 1 1 0 X 33 32 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X X JOSEPH FAZIO VP FINANCE 6176745100 300 TECHNOLOGY SQUARE 8TH FLOOR CAMBRIDGE MA 02139 ROBERT COUGHLIN PRESIDENT/DIRECTOR 40.00 X X 597062 0 30965 MARK LEUCHTENBERGER DIRECTOR 0.30 X 0 0 0 MICHAEL O'HARA TREASURER 0.50 X X 0 0 0 GLENN BATCHELDER CHAIR 0.50 X X 0 0 0 GEOFFREY F COX DIRECTOR 0.30 X 0 0 0 MARK BAMFORTH DIRECTOR 0.30 X 0 0 0 JEFFREY J ELTON PHD DIRECTOR 0.30 X 0 0 0 SCOTT GILLIS DIRECTOR 0.30 X 0 0 0 EDWIN M KANIA JR DIRECTOR 0.30 X 0 0 0 LAURIE BARTLETT KEATING DIRECTOR 0.30 X 0 0 0 STEVEN RICHTER DIRECTOR 0.30 X 0 0 0 FRANK THOMAS DIRECTOR 0.30 X 0 0 0 LAWRENCE S WITTENBERG DIRECTOR 0.50 X 0 0 0 AMIT SACHDEV DIRECTOR 0.30 X 0 0 0 STEVEN GILMAN DIRECTOR 0.30 X 0 0 0 GEOFF MACKAY IMMEDIATE PAST CHAIR 0.50 X 0 0 0 CHARLES WILSON DIRECTOR 0.30 X 0 0 0 ABBIE CELNIKER VICE CHAIR 0.50 X X 0 0 0 JC GUTIERREZ-RAMOS DIRECTOR 0.30 X 0 0 0 MARGARET CHU-MOYER DIRECTOR 0.30 X 0 0 0 DEANNA PETERSEN DIRECTOR 0.30 X 0 0 0 KATHLEEN TREGONING DIRECTOR 0.30 X 0 0 0 CAREN ARNSTEIN DIRECTOR 0.30 X 0 0 0 JAMES HOYES DIRECTOR 0.30 X 0 0 0 DAVID LUCCHINO CLERK 0.50 X X 0 0 0 RENEE CONNOLLY DIRECTOR 0.30 X 0 0 0 LISA OLSON DIRECTOR 0.30 X 0 0 0 ALICE POMPONIO DIRECTOR 0.30 X 0 0 0 JAMES BURNES DIRECTOR 0.30 X 0 0 0 LIZ LEWIS DIRECTOR 0.30 X 0 0 0 PARIS PANAYIOTOPOULOS DIRECTOR 0.30 X 0 0 0 ADELENE PERKINS DIRECTOR 0.30 X 0 0 0 RICK RUSSELL DIRECTOR 0.30 X 0 0 0 JOSEPH FAZIO VP FINANCE 40.00 X 164480 0 26098 JOHN HEFFERNAN VP POLICY AND EXTERNAL AFF 40.00 X 187488 0 26718 JOHN HALLINAN CHIEF BUSINESS OFFICER 40.00 X 233293 0 26922 KENDALLE O'CONNELL VP MEMBER SERVICES 40.00 X 137745 0 10932 SARAH MACDONALD VP DEVELOPMENT AND COMMUNI 40.00 X 163730 0 26433 1483798 0 148068 9 0 1 0 HEALTH ADVANCES LLC 9 RIVERSIDE ROAD WESTON MA 02493 CONSULTANT - 2020 REPORT 175000 FREEMAN 275 BODWELL STREET BOSTON MA 02322 DESIGN, SUPPLY, BUILD PAVILION FOR BIO C 132215 MCDERMOTT QUILTY & MILLER LLP 21 CUSTOM HOUSE STREET BOSTON MA 02110 STATE LOBBYIST 120727 3 3032083 3032083 CONSORTIUM REBATES 900099 1522834 1522834 SPONSORSHIP FEES 900099 1091988 1091988 ATTENDANCE FEES 900099 180723 180723 OTHER PROGRAM REVENUE 900099 84831 84831 2880376 17083 17083 5929542 2880376 0 17083 102700 628027 1901703 61294 241629 155242 9356 21722 159154 87928 124012 126009 531082 106859 7460 62782 5677 EVENT COSTS 575844 CONSULTING 278409 DUES AND SUBSCRIPTIONS 70210 BAD DEBT 9097 5266196 354747 260577 5687102 6684583 365139 487756 93471 185644 832549 632437 180062 200112 150688 145456 6831209 7964128 317548 278586 506256 996758 213659 231692 1037463 1507036 X 5793746 6457092 5793746 6457092 6831209 7964128 663346 0 X X 0 1 X 1 0 0 0 0 3032083 691929 691929 1000587 -308658 49365 10608 38757 669505 555829 113676 113679 66000 47679 200112 DEFERRED RENT 231692 231692 X 5717296 0 5717296 212246 212246 5929542 5053950 -212246 -212246 5266196 0 5266196 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, 2014. MASSBIO'S FEDERAL INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL JURISDICTION AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION TO MBEF PART XII, LINE 2D - OTHER ADJUSTMENTS: ALLOCATION TO MBEF PART XI, LINE 4B & PART XII, LINE 2D RECONCILIATION OF REVENUES AND EXPENSES FROM FINANCIAL STATEMENTS TO TAX RETURN INCLUDES 212,246 NET ALLOCATION TO MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION. 1 MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION 300 TECHNOLOGY SQUARE 8TH FLOOR CAMBRIDGE MA 02139 223799632 501(C)3 100000 TO FUND GENERAL OPERATIONS. 1 0 FORM 990 SCHEDULE I PART II MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC. (MASSBIO) PRESIDENT AND ONE OTHER MASSBIO BOARD MEMBER SIT ON THE MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. (MBEF) BOARD. ALL MBEF BOARD MEETINGS INCLUDE PRESENTATION OF FINANCIAL STATEMENTS AND DISCUSSION OF PROGRESS IN ACHIEVING MBEF GOALS. MASSBIO'S TOTAL STAKE IN MBEF IS EVALUATED BASED ON THIS BOARD-LEVEL INTERACTION, INCLUDING THE GRANT DOLLARS, THE PERCENTAGE OF DUES THAT IS TURNED OVER TO MBEF, AND THE AMOUNT OF SUPPORT MASSBIO WILL PROVIDE IN PUTTING ON THE GOLF FUND-RAISING EVENT. X X X 0 0 0 ROBERT COUGHLIN PRESIDENT/DIRECTOR 597062 0 0 0 0 0 10400 0 20565 0 628027 0 0 0 JOSEPH FAZIO VP FINANCE 164480 0 0 0 0 0 6421 0 19677 0 190578 0 0 0 JOHN HEFFERNAN VP POLICY AND EXTERNAL AFF 187488 0 0 0 0 0 6856 0 19862 0 214206 0 0 0 JOHN HALLINAN CHIEF BUSINESS OFFICER 233293 0 0 0 0 0 6389 0 20533 0 260215 0 0 0 SARAH MACDONALD VP DEVELOPMENT AND COMMUNI 163730 0 0 0 0 0 6742 0 19691 0 190163 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 A, LINE 8B MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC. DOES NOT RECORD MINUTES FOR ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY OUR AUDIT FIRM BASED ON INFORMATION PROVIDED BY MASSACHUSETTS BIOTECHNOLOGY COUNCIL'S MANAGEMENT. THE MASSBIO VP OF FINANCE REVIEWS THE COMPLETED FORM 990 FOR ACCURACY, AND ANY CORRECTIONS OR CHANGES ARE AGREED UPON AND MADE BY THE AUDIT FIRM. A FINAL REVIEW OF THE FORM 990 IS THEN DONE BY THE PRESIDENT AND THE EXECUTIVE COMMITTEE OF THE BOARD WITH THE VP OF FINANCE. 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 - EXECUTIVE COMMITTEE OF THE BOARD USES THE AVERAGE SALARY FOR BIOTECH PRESIDENT'S AS A GUIDE IN DETERMING SALARY. BONUS COMPENSATION IS BASED ON ACHIEVING ORGANIZATIONAL GOALS. KEY EMPLOYEE COMPENSATION - CEO NEGOTIATES ON BEHALF OF MBC, USING COMPARABLE POSITIONS WITHIN THE BIOTECH INDUSTRY AS A STARTING POINT. 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 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 2014. FORM 990, PART V, LINE 2A NINE MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. EMPLOYEES ARE PAID THROUGH MASSACHUSETTS BIOTECHNOLOGY COUNCIL, INC.'S PAYROLL SERVICE AND THUS ARE INCLUDED IN FORM W-3 FILING. MASSACHUSETTS BIOTECHNOLOGY COUNCIL RECEIVES REIMBURSEMENT FROM MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION, INC. FOR THESE EMPLOYEES. MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC 300 TECHNOLOGY SQUARE CAMBRIDGE MA 02139 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 1 0 1 1 0 1 0 0 MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC B 312246 GRANT TO MASSBIO ED MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC N 159044 REIMBURSE FOR SHARED FACILITIES MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC Q 642282 REIMBURSE FOR MA BIO ED PAYROLL MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC O 55075 REIMBURSE FOR SHARED EMPLOYEES MASSACHUSETTS BIOTECHNOLOGY EDUCATION FOUNDATION INC L 109900 SPONSORSHIP FOR MA BIO GOLF EVENT