Rio Bio

Organization Overview

Rio 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. Rio 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 12/2021, Rio Bio generated $212.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $217.2k during the year ending 12/2021. While expenses have increased by 11.3% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

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

THE EMERGING LEADERS TRAINING WAS DEVELOPED TO PROVIDE THE SKILLS TO HELP TECHNICAL LIFE SCIENCES EMPLOYEES ADAPT, PERSEVERE AND CONTINUE TO THRIVE DURING COVID-19 AND BEYOND. PARTICIPANTS INCLUDED ENGINEERS, SCIENTISTS AND DATA MANAGERS WHO HAD THE POTENTIAL FOR MANAGEMENT AND/OR TEAM LEADERSHIP. TRAINING COMPONENTS WERE BASED ON EMPLOYER SURVEYS AND REFLECTED PANDEMIC CHALLENGES, INCLUDING SESSIONS ON BUT NOT LIMITED TO WORKING REMOTELY, BUILDING TEAM COHESION AND EFFECTIVE MEETING MANAGEMENT. THIRTEEN GRADUATED FROM THE SEVEN-WEEK VIRTUAL PROGRAM AND RECEIVED A CERTIFICATE OF COMPLETION UPON GRADUATION.


THE ADVANCED LEADERS TRAINING WAS DESIGNED FOR TECHNICAL LIFE SCIENCES MANAGERS WHO WERE PROMOTED BASED ON THEIR YEARS WITH THE COMPANY AND/OR OUTSTANDING PERFORMANCE BUT WHO HAD NOT NECESSARILY BEEN TRAINED FOR LEADERSHIP. THIS TRAINING WAS INTENDED TO CREATE A CULTURE OF CONTINUOUS IMPROVEMENT, LEARNING AND EMPOWERMENT DURING COVID-19 AND BEYOND. PARTICIPANTS LEARNED HOW TO BE EFFECTIVE CHANGE AGENTS, COLLABORATE ACROSS LINES, MANAGE CHAOS AND CRISIS AND CREATE AN EFFECTIVE AND SUPPORTIVE WORK ENVIRONMENT FOR THOSE WORKING INTERNALLY AND REMOTELY. THIRTEEN GRADUATED FROM THE SEVEN-WEEK VIRTUAL PROGRAM AND RECEIVED A CERTIFICATE OF COMPLETION UPON GRADUATION.


FORTY LIFE SCIENCES ENTREPRENEURS AND CLINICIANS ASSOCIATED WITH THIRTY-FIVE DISTINCT LIFE SCIENCES ORGANIZATIONS WERE ASSISTED THROUGH PRO BONO ADVISORY SERVICES PROVIDED BY RI BIO'S ENTREPRENEUR IN RESIDENCE FROM 10/1/20 4/1/21. ASSISTANCE INCLUDED INTELLECTUAL PROPERTY ANALYSIS, SEED ROUND PITCH REVIEW AND REFINEMENT, PATENT ADVICE AND GRANT SUBMISSION GUIDANCE. IN MARCH 2021, RI BIO LAUNCHED A RI CLINICIAN-ENTREPRENEUR NETWORK (RICEN) WHICH WAS DESIGNED TO CONNECT INNOVATIVE START-UPS WITH ENTREPRENEURIALLY-MINDED PHYSICIANS AND CLINICIANS WHO CAN PROVIDE R&D GUIDANCE, CLINICAL EXPERTISE, AND VALUABLE RELATIONSHIPS. CLINICIANS WITH AN INTEREST IN SERVING IN VARIOUS CAPACITIES, SUCH AS CRITIC, ADVISOR, BOARD MEMBER, OR CLINICAL TRIAL RUNNER, WERE INVITED TO APPLY FOR MEMBERSHIP IN RICEN AND TO BE INTRODUCED TO INNOVATIVE COMPANIES OPERATING IN A RELEVANT FIELD OF MEDICINE. TWENTY-SIX PARTICIPANTS ATTENDED RICEN'S WEBINAR LAUNCH.


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Board, Officers & Key Employees

Name (title)Compensation
Carol Malysz
President
$93,977
Margaret Farrell
Secretary
$0
Michael Katz
Director
$0
Patrice Milos
Director
$0
Michael Elliott
Director
$0
Guy Asadorian
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $139,551
All other contributions, gifts, grants, and similar amounts not included above$4,583
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$144,134
Total Program Service Revenue$68,187
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 $212,321

Grants Recieved

Over the last fiscal year, we have identified 7 grants that Rio Bio has recieved totaling $131,000.

Awarding OrganizationAmount
The Rhode Island Community Foundation

Providence, RI

PURPOSE: ADVANCING THE RHODE ISLAND LIFE SCIENCES ENTREPRENEURIAL ECOSYSTEM

$50,000
The Rhode Island Community Foundation

Providence, RI

PURPOSE: ADVANCING THE RHODE ISLAND LIFE SCIENCES ENTREPRENEURIAL ECOSYSTEM

$50,000
The Rhode Island Community Foundation

Providence, RI

PURPOSE: SUSTAINING RI BIO'S MISSION TO GROW THE LIFE SCIENCES ECONOMY

$10,000
The Rhode Island Community Foundation

Providence, RI

PURPOSE: SUSTAINING RI BIO'S MISSION TO GROW THE LIFE SCIENCES ECONOMY

$10,000
Biotechnology Innovation Organization

Washington, DC

PURPOSE: SPONSORSHIP

$6,000
The Rhode Island Community Foundation

Providence, RI

PURPOSE: BOARD CHAIR/ED COACHING PROGRAM - MINI GRANT

$2,500
View Grant Recipient Profile

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