Massachusetts Biotechnology Education Foundation Inc

Nonprofit profile at a glance

EIN
223799632
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6176745100
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$3,420,708
Expenses
$3,790,896
Assets
$1,965,079
Liabilities
$516,338

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • KENDALLE BURLIN O'CONNELL (DIR./ PRES. & CEO OF MASSBIO)
  • SONDRA SCHWARTZ (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • KENDALLE BURLIN O'CONNELL (DIR./ PRES. & CEO OF MASSBIO): $491,070 total reported compensation
  • SONDRA SCHWARTZ (CHIEF EXECUTIVE OFFICER): $246,417 total reported compensation
  • BRIAN SOUZA (VP OPERATIONS & WORKFORCE DEVT.): $187,044 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Massbioed's mission is to build a sustainable life sciences workforce in the region through educational programs that engage and excite teachers, inspire and propel students, and illuminate the pathway from the classroom to career.

What it reported doing in 2024

Biotalent included several different programs focused on understanding, building, and supporting workforce development and career awareness. Activities included: a. Labor market information provide job trend analysis, and a greater understanding of the industry's workforce needs in terms of skills to educators and those in industry. The massbioed publishes the Massachusetts life sciences employment outlook and convenes the life sciences workforce. B. College to career builds a critical bridge between classroom and careers. Industry experts help teachers broaden their students' horizons and encourage an interest in the life sciences. Several modes of interaction are offered, from formal career panels to small group q&a sessions.c. Career hub brings greater life sciences awareness, access, and career services to Massachusetts residents through career awareness workshops and career coaching. D. Apprenticeship program grows and diversifies the workforce, offering streamlined pathways into the industry. The program combines technical training, on-site work experience, and income support. Working with leading life science employers, massbioed has designed three apprenticeships - one for biomanufacturing technicians, one for clinical trial associates, and one for lab support specialists. All three programs enable individuals to obtain foundational knowledge and industry recognized skills, and quickly transition into employment that provides meaningful work, family sustaining wages, and career growth.professional training courses provide technicaland soft skills training and professional development to individuals in the biotech industry. The courses are developed in conjunction with industry professionals.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 62
  • Accountability: 97
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.4%; rating input score 87
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $8.56 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 41.1%; rating input score 41; 14th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.8%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 30.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 12.7% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 10.3% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 87.4% of revenue deployed · 78.8% of spending went to programs
  • Governance: 21 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $491K · 29 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Grant itemization coverage scored 41/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.