Civic Intelligence

Medmates

990EZ • Fiscal year 2019 • EIN 46-2858053

May 01, 2018 to Apr 30, 2019 • Filed on Jan 08, 2020

Box 5680 53 Broad StreetProvidence, RI 02903

(401) 400-5499

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

49th percentile

2.3%

Higher net margin than 49% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

59th percentile

7.0%

Faster asset growth than 59% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-52%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$50,952

Up $3,325 (+7.0%) from 2018

Net Assets

Up

$50,952

Up $3,325 (+7.0%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue

Down

$143,615

Down $152,544 (-52%) from 2018

Expenses

Down

$140,290

Down $133,679 (-49%) from 2018

Net Income

Down

$3,325

Down $18,865 (-85%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2014: $26,944Liabilities 2014: $0Net Assets 2014: $26,9442014Assets 2015: $75,707Liabilities 2015: $0Net Assets 2015: $75,7072015Assets 2016: $83,267Liabilities 2016: $0Net Assets 2016: $83,2672016Assets 2017: $25,437Liabilities 2017: $0Net Assets 2017: $25,4372017Assets 2018: $47,627Liabilities 2018: $0Net Assets 2018: $47,6272018Assets 2019: $50,952Liabilities 2019: $0Net Assets 2019: $50,9522019Assets 2020: $60,944Liabilities 2020: $41,122Net Assets 2020: $19,8222020Assets 2021: $228,555Liabilities 2021: $146,396Net Assets 2021: $82,1592021Assets 2022: $119,673Liabilities 2022: $37,165Net Assets 2022: $82,5082022Assets 2023: $98,004Liabilities 2023: $25,721Net Assets 2023: $72,2832023Assets 2024: $42,269Liabilities 2024: $16,367Net Assets 2024: $25,9022024

Highlighted filing

2019

Assets$50,952
Liabilities$0
Net Assets$50,952

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2014: $54,010Expenses 2014: $27,066Net Income 2014: $26,9442014Revenue 2015: $98,250Expenses 2015: $49,487Net Income 2015: $48,7632015Revenue 2016: $110,486Expenses 2016: $102,926Net Income 2016: $7,5602016Revenue 2017: $186,673Expenses 2017: $244,503Net Income 2017: -$57,8302017Revenue 2018: $296,159Expenses 2018: $273,969Net Income 2018: $22,1902018Revenue 2019: $143,615Expenses 2019: $140,290Net Income 2019: $3,3252019Revenue 2020: $452,799Expenses 2020: $456,359Net Income 2020: -$3,5602020Revenue 2021: $446,723Expenses 2021: $384,386Net Income 2021: $62,3372021Revenue 2022: $686,804Expenses 2022: $697,430Net Income 2022: -$10,6262022Revenue 2023: $661,388Expenses 2023: $671,613Net Income 2023: -$10,2252023Revenue 2024: $544,166Expenses 2024: $590,547Net Income 2024: -$46,3812024

Highlighted filing

2019

Revenue$143,615
Expenses$140,290
Net Income$3,325
Jump To
Filing Snapshot
Filing Period
May 1, 2018 to Apr 30, 2019
Signed
Jan 8, 2020
Return Version
2018v3.1
Gross Receipts
$143,615
Mission and Program Overview

Mission

Medmates is a health-tech industry network group, connecting people and companies to support and accelerate opportunities in rhode island. It includes members from the academic, biotech, diagnostics, government, information, medical device, and pharmaceutical sectors.

Medmates (aka ri bio) is a corporation whose purpose is to support the health care industry by galvanizing collaboration between the health technologies companies, hospitals, universities, sources of capital, and governmental partners to support and accelerate health technology development in rhode island.

Program Services

DescriptionGrantsExpenses
IN MARCH, 2018 RI BIO WAS AWARDED A $65,000 GRANT FROM NEW ENGLAND MEDICAL INNOVATION CENTER TO BE DISTRIBUTED QUARTERLY. DURING THE APRIL 30, 2019 FISCAL YEAR RI BIO RECEIVED $45,000. THE GRANT IS USED TOWARD THE SALARY OF THE EXECUTIVE DIRECTOR.$45,000$0
RI BIO WAS AWARDED A GRANT FROM THE RI FOUNDATION IN FEBRUARY, 2019. THIS GRANT IS USED TO PAY PART OF THE SALARY OF THE EXECUTIVE DIRECTOR.$40,000$0
RI BIO WAS AWARDED A GRANT FROM THE RI DEPARTMENT OF LABOR & TRAINING. THE PURPOSE OF THE GRANT WAS TO RECRUIT AND TRAIN MEDICAL TECHNOLOGY STARTUPS. RI BIO HELD 10 NETWORKING AND COMMUNITY BUILDING EVENTS DURING THIS FISCAL YEAR. THEY WERE ALSO INVOLVED WITH THE RECRUITMENT AND ENGAGEMENT OF OVER 44 HEALTH AND WELLNESS VENTURES. THESE VENTURES INCLUDED RECRUITMENT AND ENGAGEMENT OF 9 INDUSTRY PARTNERS, ENGAGEMENT OF 40 INDUSTRY PROFESSIONALS FOR HEALTH AND WELLNESS ADVISORY COUNCIL, 54 EARLY-STAGE AND 8 LATE-STAGE ADVISING VENTURE PARTICIPANTS, AND ASSISTANCE WITH 20 HEALTH AND WELFARE ACCELERATOR APPLICANTS AND 10 ACCELERATOR GRADUATED VENTURES.$35,684$0
RI BIO HELD A LIFE SCIENCES EXPO IN APRIL, 2018 WITH AN ATTENDANCE OF 300 PEOPLE. THIS EVENT BROUGHT TOGETHER COMPANIES FROM SOUTHEASTERN NEW ENGLAND TO SHOWCASE THE INNOVATION, GROWTH, AND DIVERSITY OF THE LIFE SCIENCES INDUSTRY IN THIS AREA. THIS EVENT PROVIDED AN OPPORTUNITY FOR COMPANIES TO FORGE CONNECTIONS WITH OTHERS IN THE LIFE SCIENCES INDUSTRY. SOME OF THE INCOME FROM THIS EXPO WAS RECEIVED IN THE APRIL 30, 2019 FISCAL YEAR.$15,133$0
RI BIO HAS ENTERED INTO A REVENUE PROGRAM WITH BIO BUSINESS SOLUTIONS VENDORS. RI BIO RECEIVES A PERCENTAGE OF SALES WHEN RI BIO MEMBERS PURCHASE PRODUCTS FROM THESE VENDORS.$1,765$0
RI BIO RECEIVED INCOME FROM A SPONSOR OF A LOCAL AFTER HOURS EVENT THEY HELD IN AUGUST, 2018.$836$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
CAROL MALYSZExecutive Director/PresidentFT$71,125$6,992$78,117
DAVID GOLDSMITHBoard ChairPT$0--
MARGARET FARRELLSecretary-$0--
ALAN OSMOLOWSKITreasurer-$0--
MICHAEL KATZDirector-$0--
PATRICE MILOSDirector-$0--
AIDAN PETRIEDirector-$0--
Filing and Contact Details

Filer

Filer Name
Ri Bio
EIN
46-2858053
Phone
4014005499
Address
BOX 5680 53 BROAD STREET, PROVIDENCE, RI 02903

Signing Officer

Name
Alan Osmolowski
Title
Treasurer
Phone
4012725600
Signed
2020-01-08
Discuss with paid preparer
Yes

Preparer

Firm
Blum Shapiro & Company Pc
Address
1 CAPITAL WAY, CRANSTON, RI 02910
Preparer
Alan Osmolowski
Phone
4012725600
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16 - Other Expenses

Description: event expenses. Amount: 5,831. Description: fees. Amount: 799. Description: office expenses. Amount: 716. Description: computer expenses. Amount: 1,861. Description: website expenses. Amount: 13,155. Description: marketing expense. Amount: 3,000. Description: miscellaneous expense. Amount: 48. Description: insurance expense. Amount: 2,325. Description: dues and subscriptions. Amount: 771. Description: bank charges. Amount: 45. Description: meals and entertainment. Amount: 213. Description: travel expenses. Amount: 2,594. Description: payroll service fees. Amount: 1,935. Description: payroll taxes. Amount: 5,876. Description: program expenses. Amount: 15,425. Description: outreach and communications. Amount: 2,144. Total to form 990-ez, line 16: 56,738.

For 990-ez Part V Other Information Question 34

Effective december 17, 2018 medmates changed its name to ri bio. On march 11, 2019 the executive director mailed a letter to the irs reporting the name change and a change of address. A copy of the articles of amendment reflecting the name change as well as the amended annual report from the ri secretary of state were included with the correspondence to the irs.

Raw XML Appendix161 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.

Path#Value
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0CAROL MALYSZ
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5PATRICE MILOS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm6AIDAN PETRIE
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0EXECUTIVE DIRECTOR/PRESIDENT
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4DIRECTOR
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501cInd0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt056738
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0MEDMATES (AKA RI BIO) IS A CORPORATION WHOSE PURPOSE IS TO SUPPORT THE HEALTH CARE INDUSTRY BY GALVANIZING COLLABORATION BETWEEN THE HEALTH TECHNOLOGIES COMPANIES, HOSPITALS, UNIVERSITIES, SOURCES OF CAPITAL, AND GOVERNMENTAL PARTNERS TO SUPPORT AND ACCELERATE HEALTH TECHNOLOGY DEVELOPMENT IN RHODE ISLAND.
IRS990EZ/PrintingPublicationsPostageAmt0155
IRS990EZ/ProgramServiceRevenueAmt017734
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0RI BIO WAS AWARDED A GRANT FROM THE RI FOUNDATION IN FEBRUARY, 2019. THIS GRANT IS USED TO PAY PART OF THE SALARY OF THE EXECUTIVE DIRECTOR.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1RI BIO WAS AWARDED A GRANT FROM THE RI DEPARTMENT OF LABOR & TRAINING. THE PURPOSE OF THE GRANT WAS TO RECRUIT AND TRAIN MEDICAL TECHNOLOGY STARTUPS. RI BIO HELD 10 NETWORKING AND COMMUNITY BUILDING EVENTS DURING THIS FISCAL YEAR. THEY WERE ALSO INVOLVED WITH THE RECRUITMENT AND ENGAGEMENT OF OVER 44 HEALTH AND WELLNESS VENTURES. THESE VENTURES INCLUDED RECRUITMENT AND ENGAGEMENT OF 9 INDUSTRY PARTNERS, ENGAGEMENT OF 40 INDUSTRY PROFESSIONALS FOR HEALTH AND WELLNESS ADVISORY COUNCIL, 54 EARLY-STAGE AND 8 LATE-STAGE ADVISING VENTURE PARTICIPANTS, AND ASSISTANCE WITH 20 HEALTH AND WELFARE ACCELERATOR APPLICANTS AND 10 ACCELERATOR GRADUATED VENTURES.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2IN MARCH, 2018 RI BIO WAS AWARDED A $65,000 GRANT FROM NEW ENGLAND MEDICAL INNOVATION CENTER TO BE DISTRIBUTED QUARTERLY. DURING THE APRIL 30, 2019 FISCAL YEAR RI BIO RECEIVED $45,000. THE GRANT IS USED TOWARD THE SALARY OF THE EXECUTIVE DIRECTOR.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt3RI BIO HELD A LIFE SCIENCES EXPO IN APRIL, 2018 WITH AN ATTENDANCE OF 300 PEOPLE. THIS EVENT BROUGHT TOGETHER COMPANIES FROM SOUTHEASTERN NEW ENGLAND TO SHOWCASE THE INNOVATION, GROWTH, AND DIVERSITY OF THE LIFE SCIENCES INDUSTRY IN THIS AREA. THIS EVENT PROVIDED AN OPPORTUNITY FOR COMPANIES TO FORGE CONNECTIONS WITH OTHERS IN THE LIFE SCIENCES INDUSTRY. SOME OF THE INCOME FROM THIS EXPO WAS RECEIVED IN THE APRIL 30, 2019 FISCAL YEAR.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt4RI BIO HAS ENTERED INTO A REVENUE PROGRAM WITH BIO BUSINESS SOLUTIONS VENDORS. RI BIO RECEIVES A PERCENTAGE OF SALES WHEN RI BIO MEMBERS PURCHASE PRODUCTS FROM THESE VENDORS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt5RI BIO RECEIVED INCOME FROM A SPONSOR OF A LOCAL AFTER HOURS EVENT THEY HELD IN AUGUST, 2018.
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: EVENT EXPENSES. AMOUNT: 5,831. DESCRIPTION: FEES. AMOUNT: 799. DESCRIPTION: OFFICE EXPENSES. AMOUNT: 716. DESCRIPTION: COMPUTER EXPENSES. AMOUNT: 1,861. DESCRIPTION: WEBSITE EXPENSES. AMOUNT: 13,155. DESCRIPTION: MARKETING EXPENSE. AMOUNT: 3,000. DESCRIPTION: MISCELLANEOUS EXPENSE. AMOUNT: 48. DESCRIPTION: INSURANCE EXPENSE. AMOUNT: 2,325. DESCRIPTION: DUES AND SUBSCRIPTIONS. AMOUNT: 771. DESCRIPTION: BANK CHARGES. AMOUNT: 45. DESCRIPTION: MEALS AND ENTERTAINMENT. AMOUNT: 213. DESCRIPTION: TRAVEL EXPENSES. AMOUNT: 2,594. DESCRIPTION: PAYROLL SERVICE FEES. AMOUNT: 1,935. DESCRIPTION: PAYROLL TAXES. AMOUNT: 5,876. DESCRIPTION: PROGRAM EXPENSES. AMOUNT: 15,425. DESCRIPTION: OUTREACH AND COMMUNICATIONS. AMOUNT: 2,144. TOTAL TO FORM 990-EZ, LINE 16: 56,738.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EFFECTIVE DECEMBER 17, 2018 MEDMATES CHANGED ITS NAME TO RI BIO. ON MARCH 11, 2019 THE EXECUTIVE DIRECTOR MAILED A LETTER TO THE IRS REPORTING THE NAME CHANGE AND A CHANGE OF ADDRESS. A COPY OF THE ARTICLES OF AMENDMENT REFLECTING THE NAME CHANGE AS WELL AS THE AMENDED ANNUAL REPORT FROM THE RI SECRETARY OF STATE WERE INCLUDED WITH THE CORRESPONDENCE TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FOR 990-EZ PART V OTHER INFORMATION QUESTION 34
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
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ReturnHeader/FilingSecurityInformation/IPTm009:23:03
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ReturnHeader/ReturnTs02020-01-08T15:18:45-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02018-05-01
ReturnHeader/TaxPeriodEndDt02019-04-30
ReturnHeader/TaxYr02018

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