Civic Intelligence

Michigan Biotechnology Institute

EIN 38-2418381 • 501(c)3 • East Lansing, MI

Profile

Bridging the gap between early-stage innovation and commercial application. Partnering to de-risk, develop and scale-up discoveries into commercially-viable technology packages.

325 E Grand River Ave 275East Lansing, MI 48823

www.mbi.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.00x

Higher debt load relative to assets than 60% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

100th percentile

168%

Higher net margin than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

100th percentile

$521,196

Higher top officer pay than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

26th percentile

-31%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Down

$429,855

Down $196,845 (-31%) from 2023

Liabilities

Down

$41

Down $366 (-90%) from 2023

Net Assets

Down

$429,814

Down $196,479 (-31%) from 2023

Revenue

Down

-$116,776

Down $119,712 (-4077%) from 2023

Expenses

Down

$79,703

Down $15,075 (-16%) from 2023

Net Income

Down

-$196,479

Down $104,637 (-114%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$2.0M$0-$2.0MAssets 2011: $2,964,619Liabilities 2011: $3,965,630Net Assets 2011: -$1,001,0112011Assets 2012: $2,995,259Liabilities 2012: $2,681,056Net Assets 2012: $314,2032012Assets 2013: $3,899,129Liabilities 2013: $2,984,101Net Assets 2013: $915,0282013Assets 2014: $3,917,275Liabilities 2014: $2,407,661Net Assets 2014: $1,509,6142014Assets 2015: $3,092,409Liabilities 2015: $1,938,292Net Assets 2015: $1,154,1172015Assets 2016: $1,310,095Liabilities 2016: $323,046Net Assets 2016: $987,0492016Assets 2017: $2,153,908Liabilities 2017: $586,033Net Assets 2017: $1,567,8752017Assets 2018: $1,742,415Liabilities 2018: $574,338Net Assets 2018: $1,168,0772018Assets 2019: $1,224,594Liabilities 2019: $152,601Net Assets 2019: $1,071,9932019Assets 2020: $861,027Liabilities 2020: $3,115Net Assets 2020: $857,9122020Assets 2021: $770,303Liabilities 2021: $953Net Assets 2021: $769,3502021Assets 2022: $718,619Liabilities 2022: $484Net Assets 2022: $718,1352022Assets 2023: $626,700Liabilities 2023: $407Net Assets 2023: $626,2932023Assets 2024: $429,855Liabilities 2024: $41Net Assets 2024: $429,8142024

Highlighted filing

2024

Assets$429,855
Liabilities$41
Net Assets$429,814

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $5,163,2652011Expenses 2012: $5,748,2932012Revenue 2013: $7,006,501Expenses 2013: $6,405,676Net Income 2013: $600,8252013Revenue 2014: $7,194,346Expenses 2014: $6,599,760Net Income 2014: $594,5862014Revenue 2015: $6,046,928Expenses 2015: $6,402,425Net Income 2015: -$355,4972015Revenue 2016: $4,316,243Expenses 2016: $4,483,311Net Income 2016: -$167,0682016Revenue 2017: $2,097,239Expenses 2017: $1,516,413Net Income 2017: $580,8262017Revenue 2018: $696,635Expenses 2018: $1,096,433Net Income 2018: -$399,7982018Revenue 2019: $814,106Expenses 2019: $910,190Net Income 2019: -$96,0842019Revenue 2020: $253,225Expenses 2020: $467,306Net Income 2020: -$214,0812020Revenue 2021: $17,281Expenses 2021: $105,843Net Income 2021: -$88,5622021Revenue 2022: $47,911Expenses 2022: $99,126Net Income 2022: -$51,2152022Revenue 2023: $2,936Expenses 2023: $94,778Net Income 2023: -$91,8422023Revenue 2024: -$116,776Expenses 2024: $79,703Net Income 2024: -$196,4792024

Highlighted filing

2024

Revenue-$116,776
Expenses$79,703
Net Income-$196,479

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$0.12$0.08$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.00$0.63$0.00$0.09$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.00$0.72$0.05$0.10$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.00$0.77$0.02$0.11$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.00$0.86$0.25$0.47$0.21
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.15$1.07$0.81$0.91$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$0.57$1.17$0.70$1.10$0.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.15$0.59$1.57$2.10$1.52$0.58
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.32$0.99$4.32$4.48$0.17
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.09$1.94$1.15$6.05$6.40$0.36
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.92$2.41$1.51$7.19$6.60$0.59
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.90$2.98$0.92$7.01$6.41$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$2.68$0.31$5.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.96$3.97$1.00$5.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$36,537
Mission and Program Overview

Mission

Bridging the gap between early-stage innovation and commercial application partnering to de-risk, develop and scale-up discoveries into commercially-viable technology packages.

Bridging the gap between early-stage innovation and commercial (continued in sch o) application. Partnering to de-risk, develop and scale-up discoveries into commercially-viable technology packages.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$537,868$321,837▼ $216,031
Savings and Temporary Cash Investments$73,643$94,161▲ $20,518
Accounts Receivable$14,655$12,857▼ $1,798
Prepaid Expenses and Deferred Charges$534$1,000▲ $466
Total Assets$626,700$429,855▼ $196,845
Liabilities
Accounts Payable and Accrued Expenses$407$41▼ $366
Total Liabilities$407$41▼ $366
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$626,293$429,814▼ $196,479
Total Net Assets Fund Balance$626,293$429,814▼ $196,479
Total Liabilities and Net Assets / Fund Balance$626,700$429,855▼ $196,845

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David WashburnPresident & Chair
Rebekah SkrzyniarzDirector of Finance
Allen JulianSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-153,313
Other Revenue
$36,537
Change in Net Assets
$-196,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$79,703
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$78,052--$78,052
Information Technology$1,068$36-$1,104
Fees for Services Other-$547-$547
Total Functional Expenses$79,120$583$0$79,703
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Business relationships certain listed officers and board members also serve as officers and board members of a related entity.

Form 990, Part VI, Section A, Line 6

Classes of members or stockholders 100% of mbi's stock is held by the michigan state university research foundation.

Form 990, Part VI, Section A, Line 7A

Election of members and their rights members of the michigan state university research foundation's board of directors are also members of mbi's board and therefore michigan state university research foundation (stockholder) is involved in the decision-making process.

Form 990, Part VI, Section A, Line 7B

Decisions subject to approval of members members of the michigan state university research foundation's board of directors are also members of mbi's board and therefore michigan state university research foundation (stockholder) is involved in the decision making process.

Form 990, Part VI, Section B, Line 11B

Organization's process to review form 990 the form 990 was prepared by a national independent accounting firm in conjunction with the organization's internal finance department. A draft of the return is reviewed by the director of finance, president, and internal accounting personnel. Following the review and approval the form 990 was provided to each of the other voting members of the board of directors prior to the filing.

Form 990, Part VI, Section B, Line 12C

Enforcement of conflicts policy conflict of interest form is filled out at the beginning of each calendar year and reviewed.

Form 990, Part VI, Section B, Line 15

Compensation process for top official (line 15a) the annual (fiscal year) process for determining compensation for the organization's president begins by analyzing compensation data from the most current national published compensation surveys and irs form 990 data. Compensation data are analyzed from defined peer groups comparable to michigan state university research foundation in size and complexity. For executive positions, data from other industries are included for market comparison purposes. The compensation data sources are used to analyze msu officers' pay levels and to determine if any adjustments need to be made. Compensation is approved by the board chair, board vice chair, and board president. This process was completed by a related tax-exempt entity, michigan state university research foundation. Compensation process for officers (line 15b) the annual (fiscal year) process for determining compensation for the organization's management team and remaining staff begins by analyzing compensation data from the most current national published compensation surveys and irs form 990 data. Compensation data are analyzed from defined peer groups comparable to msu foundation in size and complexity. For executive positions, data from other industries are included for market comparison purposes. The compensation data sources are used to analyze michigan state university research foundation's officers' pay levels and to determine if any adjustments need to be made. Compenation is approved by the board chair. The organizations salary budget is approved by the board of directors and documented in the board minutes. This process was completed by a related tax-exempt entity, michigan state university research foundation.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Michigan Biotechnology Institute
EIN
38-2418381
Phone
5173539268
Address
325 E GRAND RIVER AVE 275, EAST LANSING, MI 48823

Signing Officer

Name
David Washburn
Title
President
Phone
5173539268
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Washburn
Formed
1981
Legal Domicile
Mi
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
1

Preparer

Firm
Grant Thornton Advisors LLC
Address
171 N CLARK ST STE 200, CHICAGO, IL 60601
Preparer
Bridget T Roche
Phone
3128560200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Fin 48 footnote mbi is exempt from federal income taxes under section 501(c)(3) of the internal revenue code ('code'). Accordingly, no provision for income taxes is included on the accompanying consolidated statement of activities and changes in net assets.

Raw XML Appendix348 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CHAIR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR OF FINANCE
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0METHODS USED TO ESTABLISH COMPENSATION OF PRESIDENT: TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S PRESIDENT, THE RELATED ORGANIZATION UTILIZES THE FOLLOWING: EXECUTIVE COMMITTEE, COMPARABILITY DATA, AN OUTSIDE COMPENSATION CONSULTING FIRM, AND APPROVAL BY THE BOARD OR EXECUTIVE COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUSINESS RELATIONSHIPS CERTAIN LISTED OFFICERS AND BOARD MEMBERS ALSO SERVE AS OFFICERS AND BOARD MEMBERS OF A RELATED ENTITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CLASSES OF MEMBERS OR STOCKHOLDERS 100% OF MBI'S STOCK IS HELD BY THE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTION OF MEMBERS AND THEIR RIGHTS MEMBERS OF THE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION'S BOARD OF DIRECTORS ARE ALSO MEMBERS OF MBI'S BOARD AND THEREFORE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION (STOCKHOLDER) IS INVOLVED IN THE DECISION-MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DECISIONS SUBJECT TO APPROVAL OF MEMBERS MEMBERS OF THE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION'S BOARD OF DIRECTORS ARE ALSO MEMBERS OF MBI'S BOARD AND THEREFORE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION (STOCKHOLDER) IS INVOLVED IN THE DECISION MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY A NATIONAL INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S INTERNAL FINANCE DEPARTMENT. A DRAFT OF THE RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE, PRESIDENT, AND INTERNAL ACCOUNTING PERSONNEL. FOLLOWING THE REVIEW AND APPROVAL THE FORM 990 WAS PROVIDED TO EACH OF THE OTHER VOTING MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ENFORCEMENT OF CONFLICTS POLICY CONFLICT OF INTEREST FORM IS FILLED OUT AT THE BEGINNING OF EACH CALENDAR YEAR AND REVIEWED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION PROCESS FOR TOP OFFICIAL (LINE 15A) THE ANNUAL (FISCAL YEAR) PROCESS FOR DETERMINING COMPENSATION FOR THE ORGANIZATION'S PRESIDENT BEGINS BY ANALYZING COMPENSATION DATA FROM THE MOST CURRENT NATIONAL PUBLISHED COMPENSATION SURVEYS AND IRS FORM 990 DATA. COMPENSATION DATA ARE ANALYZED FROM DEFINED PEER GROUPS COMPARABLE TO MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION IN SIZE AND COMPLEXITY. FOR EXECUTIVE POSITIONS, DATA FROM OTHER INDUSTRIES ARE INCLUDED FOR MARKET COMPARISON PURPOSES. THE COMPENSATION DATA SOURCES ARE USED TO ANALYZE MSU OFFICERS' PAY LEVELS AND TO DETERMINE IF ANY ADJUSTMENTS NEED TO BE MADE. COMPENSATION IS APPROVED BY THE BOARD CHAIR, BOARD VICE CHAIR, AND BOARD PRESIDENT. THIS PROCESS WAS COMPLETED BY A RELATED TAX-EXEMPT ENTITY, MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION. COMPENSATION PROCESS FOR OFFICERS (LINE 15B) THE ANNUAL (FISCAL YEAR) PROCESS FOR DETERMINING COMPENSATION FOR THE ORGANIZATION'S MANAGEMENT TEAM AND REMAINING STAFF BEGINS BY ANALYZING COMPENSATION DATA FROM THE MOST CURRENT NATIONAL PUBLISHED COMPENSATION SURVEYS AND IRS FORM 990 DATA. COMPENSATION DATA ARE ANALYZED FROM DEFINED PEER GROUPS COMPARABLE TO MSU FOUNDATION IN SIZE AND COMPLEXITY. FOR EXECUTIVE POSITIONS, DATA FROM OTHER INDUSTRIES ARE INCLUDED FOR MARKET COMPARISON PURPOSES. THE COMPENSATION DATA SOURCES ARE USED TO ANALYZE MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION'S OFFICERS' PAY LEVELS AND TO DETERMINE IF ANY ADJUSTMENTS NEED TO BE MADE. COMPENATION IS APPROVED BY THE BOARD CHAIR. THE ORGANIZATIONS SALARY BUDGET IS APPROVED BY THE BOARD OF DIRECTORS AND DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS COMPLETED BY A RELATED TAX-EXEMPT ENTITY, MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS DISCLOSURE EXPLANATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRANT THORNTON ADVISORS LLC
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ReturnHeader/PreparerPersonGrp/PhoneNum03128560200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIDGET T ROCHE
ReturnHeader/ReturnTs02025-05-14T10:10:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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