Civic Intelligence

Medmates

990 • Fiscal year 2021 • EIN 46-2858053

May 01, 2020 to Apr 30, 2021 • Filed on Mar 15, 2022

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

93rd percentile

0.64x

Higher debt load relative to assets than 93% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

85th percentile

0.33x

Higher debt load relative to revenue than 85% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

60th percentile

14%

Higher net margin than 60% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

94th percentile

$89,095

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 19.9% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

98th percentile

275%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

44th percentile

-1.3%

Faster revenue growth than 44% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$228,555

Up $167,611 (+275%) from 2020

Net Assets

Up

$82,159

Up $62,337 (+314%) from 2020

Liabilities

Up

$146,396

Up $105,274 (+256%) from 2020

Revenue

Down

$446,723

Down $6,076 (-1.3%) from 2020

Expenses

Down

$384,386

Down $71,973 (-16%) from 2020

Net Income

Up

$62,337

Up $65,897 (+1851%) from 2020

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

2021

Assets$228,555
Liabilities$146,396
Net Assets$82,159

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

2021

Revenue$446,723
Expenses$384,386
Net Income$62,337
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Apr 30, 2021
Signed
Mar 15, 2022
Return Version
2020v4.2
Gross Receipts
$446,723
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$31,000$162,499▲ $131,499
Accounts Receivable$29,944$66,056▲ $36,112
Total Assets$60,944$228,555▲ $167,611
Liabilities
Accounts Payable and Accrued Expenses$41,122$110,025▲ $68,903
Deferred Revenue-$36,371-
Total Liabilities$41,122$146,396▲ $105,274
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,822$77,576▲ $57,754
Net Assets With Donor Restrictions-$4,583-
Total Net Assets Fund Balance$19,822$82,159▲ $62,337
Total Liabilities and Net Assets / Fund Balance$60,944$228,555▲ $167,611
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carol MalyszExecutive DirectorFT$88,208$887$89,095

Board Members and Trustees

NameTitle
Alyssa BossDirector
Brian ButlerDirector
Dom MesserliDirector
Guy AsadorianDirector
Michael ElliottDirector
Michael KatzDirector
Patrice MilosDirector
Margaret FarrellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$373,108
Program Service Revenue
$73,615
Investment Income
$0
Other Revenue
$0
All Other Contributions
$62,500
Change in Net Assets
$62,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$282,666
Salaries, Compensation, and Employee Benefits$101,720
Total Fundraising Expense$6,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$213,093$3,006-$216,099
Current Officers, Directors, Trustees, and Key Employees$79,990$9,411$4,705$94,106
Advertising$9,000$1,540-$10,540
All Other Expenses$2,040$4,395$1,005$7,440
Payroll Taxes$5,718$673$336$6,727
Occupancy$5,400$634$318$6,352
Other Expenses$2,635$2,645-$2,635
Office Expenses$1,252$1,034-$2,286
Insurance$1,467$173$86$1,726
Other Employee Benefits$753$89$45$887
Travel$241--$241
Interest-$202-$202
Total Functional Expenses$354,089$23,802$6,495$384,386
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The board is provided a copy of Form 990 to review prior to filing.

Form 990, Part VI, Section B, line 15A

The executive director's annual compensation is approved by the board and contemporaneously documented in the board meeting minutes.

Form 990, Part VI, Section C, line 19

The organization does not make these documents available to the public.

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
Carol Malysz
Title
Executive Director
Phone
4014005499
Signed
2022-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Malysz
Formed
2013
Legal Domicile
Ri
Voting Board Members
8
Independent Board Members
0
Employees
1
Volunteers
0

Preparer

Firm
Aaronson Lavoie Streitfeld Diaz & Co PC
Address
1604 Broad Street, Cranston, RI 02905
Preparer
Denise M Lavoie CPA
Phone
4012230205
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Curriculum development: Program service expenses 27,968. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,968. Development consulting: Program service expenses 11,250. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,250. Entrepreneur in residence: Program service expenses 90,000. Management and general expenses 385. Fundraising expenses 0. Total expenses 90,385. Legal and professional: Program service expenses 3,680. Management and general expenses 2,621. Fundraising expenses 0. Total expenses 6,301. Program management: Program service expenses 76,100. Management and general expenses 0. Fundraising expenses 0. Total expenses 76,100. Other: Program service expenses 4,095. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,095.

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IRS990/ProgSrvcAccomActy2Grp/Desc0The 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.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Forty 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board is provided a copy of Form 990 to review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The executive director's annual compensation is approved by the board and contemporaneously documented in the board meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization does not make these documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Curriculum development: Program service expenses 27,968. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,968. Development consulting: Program service expenses 11,250. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,250. Entrepreneur in residence: Program service expenses 90,000. Management and general expenses 385. Fundraising expenses 0. Total expenses 90,385. Legal and professional: Program service expenses 3,680. Management and general expenses 2,621. Fundraising expenses 0. Total expenses 6,301. Program management: Program service expenses 76,100. Management and general expenses 0. Fundraising expenses 0. Total expenses 76,100. Other: Program service expenses 4,095. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,095.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, line 11g
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0RI Bio Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0852624313
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Providing education and training for new hires and existing workers.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt053 Broad Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Providence
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002903
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt060944
IRS990/TotalAssetsEOYAmt0228555
IRS990/TotalAssetsGrp/BOYAmt060944
IRS990/TotalAssetsGrp/EOYAmt0228555
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0373108
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06495
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023802
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0354089
IRS990/TotalFunctionalExpensesGrp/TotalAmt0384386
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt041122
IRS990/TotalLiabilitiesEOYAmt0146396
IRS990/TotalLiabilitiesGrp/BOYAmt041122
IRS990/TotalLiabilitiesGrp/EOYAmt0146396
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019822
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt082159
IRS990/TotalOtherCompensationAmt0887
IRS990/TotalOtherProgSrvcExpenseAmt0154401
IRS990/TotalOtherProgSrvcRevenueAmt073615
IRS990/TotalProgramServiceExpensesAmt0354089
IRS990/TotalProgramServiceRevenueAmt073615
IRS990/TotalReportableCompFromOrgAmt088208
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt073615
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0446723
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt060944
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0228555
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0241
IRS990/TravelGrp/TotalAmt0241
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0Box 5680 53 Broad Street
IRS990/USAddress/CityNm0Providence
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002903
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0ri-bio.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Carol Malysz
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum04014005499
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RI Bio
ReturnHeader/Filer/BusinessNameControlTxt0RIBI
ReturnHeader/Filer/EIN0462858053
ReturnHeader/Filer/PhoneNum04014005499
ReturnHeader/Filer/USAddress/AddressLine1Txt0Box 5680 53 Broad Street
ReturnHeader/Filer/USAddress/CityNm0Providence
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002903
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0050495839
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Aaronson Lavoie Streitfeld Diaz & Co PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01604 Broad Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cranston
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002905
ReturnHeader/PreparerPersonGrp/PhoneNum04012230205
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Denise M Lavoie CPA
ReturnHeader/ReturnTs02022-03-15T07:24:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Carol
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Malysz
ReturnHeader/TaxPeriodBeginDt02020-05-01
ReturnHeader/TaxPeriodEndDt02021-04-30
ReturnHeader/TaxYr02020

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