Ri Bio is located in Providence, RI. The organization was established in 2014. According to its NTEE Classification (H03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. RI Bio is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, RI Bio generated $686.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.7% each year . All expenses for the organization totaled $697.4k during the year ending 12/2022. While expenses have increased by 27.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RI BIO'S MISSION IS TO SERVE AS A CATALYST FOR BIOTECH INDUSTRY ACCELERATION, ADVOCATING FOR BETTER POLICY, EDUCATING A STRONG LIFE SCIENCE WORKFORCE, COLLABORATING WITH LIFE SCIENCES COMPANIES, HOSPITALS, UNIVERSITIES, CAPITAL SOURCES AND GOVERNMENT AGENCIES, SHARING INFORMATION AND EXPERTISE, AND PROMOTING THE ADVANCEMENT OF SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP TRAINING RI BIO, IN COLLABORATION WITH SOPHAYA CONSULTING, PROVIDED EMERGING & ADVANCED LEADERSHIP TRAINING TO 26 INCUMBENT WORKERS. BOTH THE EMERGING AND ADVANCED TRAINING MODULES WERE DESIGNED TO HELP LEADERS EMPOWER AND COACH EMPLOYEES, CREATE A CULTURE OF CREATIVITY AND ADAPTABILITY, AND DEVELOP A MORE PRODUCTIVE WORKPLACE. IN ADDITION TO THE 7 MODULES OFFERED IN EACH SESSION, BOTH PROVIDED PARTICIPANTS WITH ONE-ON-ONE COACHING. PARTICIPANTS WERE ALSO REQUIRED TO COMPLETE A CAPSTONE PROJECT. THERE WERE 15 GRADUATES FROM THE EMERGING AND 11 FROM THE ADVANCED TRAINING CLASSES.
LEADERSHIP TRAINING THE "LEADERSHIP SKILLS FOR CREATING A SUCCESSFUL POST-PANDEMIC FUTURE" TRAINING PROVIDED AN OPPORTUNITY FOR RI BIO LIFE SCIENCES EMPLOYERS AMGEN, CIC, DENISON PHARMACEUTICALS, EPIVAX, LIFESPAN AND RHODE ISLAND QUALITY INSTITUTE, TO FURTHER DEVELOP AND RETAIN LEADERS IN THEIR ORGANIZATIONS. THE TRAINING WAS OFFERED VIRTUALLY AND PROVIDED FLEXIBLE OPTIONS FOR EMPLOYEES TO TAKE 1 OR AS MANY OF THE 6 COURSES WHICH BEST MET THEIR NEEDS AND SCHEDULES. CEU'S WERE AWARDED TO EMPLOYEES FOR EACH COURSE THEY COMPLETED. THERE WERE 19 GRADUATES FROM THE TRAINING.EDA ACTIVITYRI BIO'S ENTREPRENEUR IN RESIDENCE ENGAGED A VARIETY OF LIFE SCIENCE ENTREPRENEURS, TECHNOLOGY COMPANIES, AND SERVICE PROVIDERS WITH THE INTENTION OF HAVING THEM SET UP OPERATIONS IN RHODE ISLAND AND/OR EXPANDING CURRENT OPERATIONS IN THE STATE. THIS INCLUDED 54 CONTACTS, OF WHICH 32 REPRESENTED TECHNOLOGY-FOCUSED ENTERPRISES AND 22 REPRESENTED SERVICE PROVIDERS.
PROJECT MANAGEMENT ESSENTIALS TRAINING THROUGH THE PROJECT MANAGEMENT ESSENTIALS ONLINE COURSE WORK, PARTICIPANTS LEARNED NEW SKILLS THAT INCLUDED THE PROJECT MANAGEMENT PROCESS, INTERPERSONAL COMMUNICATION, MANAGING DAY-TO-DAY PRODUCTIVITY, BUILDING PRODUCTIVE RELATIONSHIPS, NAVIGATING DIFFICULTIES/MANAGING DISRUPTIONS, BUILDING STRONGER TEAMS, GIVING QUALITATIVE FEEDBACK TO MANAGEMENT, EMPLOYING EMPATHY AND ENHANCING EMPLOYEE ENGAGEMENT. THERE WERE 12 GRADUATES FROM THE TRAINING.
BIOSCIENCE ON RAMP TRAINING THIS TRAINING WAS A COLLABORATION WITH RI BIO, THE UNIVERSITY OF RHODE ISLAND PHARMACEUTICAL DEVELOPMENT INSTITUTE (URI PDI) AND SKILLS FOR RHODE ISLAND'S FUTURE, TO PROVIDE PARTICIPANTS WITH BASIC LAB AND BIOTECHNOLOGY SKILLS. IN THESE 2 VIRTUAL TRAINING SESSIONS, PARTICIPANTS LEARNED ABOUT THE LIFE SCIENCES INDUSTRY AND JOB OPPORTUNITIES AS WELL AS BASIC HARD AND SOFT SKILLS REQUIRED TO BE SUCCESSFUL IN THE INDUSTRY. WHILE THE URI PDI PROVIDED TRAINING IN LIFE SCIENCES CONCEPTS AND LAB SKILLS, SKILLS FOR RI'S FUTURE PROVIDED CAREER SERVICES TO HELP THE PARTICIPANTS GAIN EMPLOYMENT IN THE INDUSTRY. THERE WERE 137 GRADUATES FROM BOTH COURSES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Margaret Farrell Secretary | OfficerTrustee | 1 | $0 |
Michael Katz Director | Trustee | 1 | $0 |
Patrice Milos Director | Trustee | 1 | $0 |
Michael Elliott Director | Trustee | 1 | $0 |
Guy Asadorian Director | Trustee | 1 | $0 |
Brian Butler Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $498,663 |
All other contributions, gifts, grants, and similar amounts not included above | $50,500 |
Noncash contributions included in lines 1a–1f | $50,500 |
Total Revenue from Contributions, Gifts, Grants & Similar | $549,163 |
Total Program Service Revenue | $137,599 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $686,804 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $119,480 |
Compensation of current officers, directors, key employees. | $81,405 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $1,454 |
Payroll taxes | $9,896 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $14,948 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $324,871 |
Advertising and promotion | $27,451 |
Office expenses | $644 |
Information technology | $1,047 |
Royalties | $0 |
Occupancy | $30,971 |
Travel | $3,555 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $327 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $1,917 |
All other expenses | $18,229 |
Total functional expenses | $697,430 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $71,553 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $48,120 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $119,673 |
Accounts payable and accrued expenses | $28,617 |
Grants payable | $0 |
Deferred revenue | $8,548 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $37,165 |
Net assets without donor restrictions | $82,508 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $119,673 |
Organization Name | Assets | Revenue |
---|---|---|
Third Sector New England Inc Boston, MA | $129,062,411 | $80,834,257 |
American Academy Of Pain Medicine Ultrasonography Inc North Reading, MA | $15,812 | $1,707,579 |
Ri Bio Providence, RI | $119,673 | $686,804 |
American Physician Scientists Association Inc Westford, MA | $254,610 | $279,598 |
Intrepid Alliance Inc Cambridge, MA | $1,648,182 | $1,499,980 |
National Glaucoma Society Andover, MA | $18,592 | $0 |
Dmm Global Foundation Cambridge, MA | $0 | $3,725 |
Sino-American Pharmaceutical Professionals Association-New Engl Jamaica Plain, MA | $285,390 | $0 |
Biological Photographic Association Inc Attleboro, MA | $310,970 | $0 |
New England Drug Metabolism Discussion Group Holliston, MA | $21,284 | $0 |
International Society For Omega-3 Research Boston, MA | $38,247 | $15,394 |