Civic Intelligence

Medmates

990 • Fiscal year 2022 • EIN 46-2858053

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

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

79th percentile

0.31x

Higher debt load relative to assets than 79% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

50th percentile

0.05x

Higher debt load relative to revenue than 50% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Net Margin

32nd percentile

-1.5%

Higher net margin than 32% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

78th percentile

$119,480

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Asset Growth

2nd percentile

-48%

Faster asset growth than 2% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

84th percentile

54%

Faster revenue growth than 84% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$119,673

Down $108,882 (-48%) from 2021

Net Assets

Up

$82,508

Up $349 (+0.4%) from 2021

Liabilities

Down

$37,165

Down $109,231 (-75%) from 2021

Revenue

Up

$686,804

Up $240,081 (+54%) from 2021

Expenses

Up

$697,430

Up $313,044 (+81%) from 2021

Net Income

Down

-$10,626

Down $72,963 (-117%) from 2021

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

2022

Assets$119,673
Liabilities$37,165
Net Assets$82,508

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

2022

Revenue$686,804
Expenses$697,430
Net Income-$10,626
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$686,804
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$49,190$71,553▲ $22,363
Accounts Receivable$48,266$48,120▼ $146
Total Assets$97,456$119,673▲ $22,217
Liabilities
Accounts Payable and Accrued Expenses$24,774$28,617▲ $3,843
Deferred Revenue-$8,548-
Total Liabilities$24,774$37,165▲ $12,391
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$72,682$82,508▲ $9,826
Total Net Assets Fund Balance$72,682$82,508▲ $9,826
Total Liabilities and Net Assets / Fund Balance$97,456$119,673▲ $22,217
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Carol MalyszPresidentFT$119,480$119,480

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$549,163
Program Service Revenue
$137,599
Investment Income
$0
Other Revenue
$42
All Other Contributions
$50,500
Change in Net Assets
$-10,626

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table3$24,300Fair market value
Other Non Cash Contri Table2$19,200Fair market value
Other Non Cash Contri Table1$7,000Fair market value
Total Noncash Contributions6$50,500-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$566,600
Salaries, Compensation, and Employee Benefits$130,830
Total Fundraising Expense$6,547
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$319,320$5,551-$324,871
Current Officers, Directors, Trustees, and Key Employees$33,791$81,405$4,284$119,480
Occupancy$4,713$24,709$1,549$30,971
Advertising$14,910$12,541-$27,451
All Other Expenses$9,612$8,567$50$18,229
Fees for Services Accounting$2,700$12,248-$14,948
Payroll Taxes$2,585$6,816$495$9,896
Other Expenses$12,804$7,085-$7,085
Travel-$3,555-$3,555
Insurance$556$1,265$96$1,917
Other Employee Benefits-$1,381$73$1,454
Information Technology-$1,047-$1,047
Office Expenses-$644-$644
Interest-$327-$327
Total Functional Expenses$500,991$189,892$6,547$697,430
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
Annual disclosure for covered persons
No
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
Yes
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
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Malysz
Formed
2013
Legal Domicile
Ri
Voting Board Members
7
Independent Board Members
7
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 26,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,000. Program management: Program service expenses 273,320. Management and general expenses 4,301. Fundraising expenses 0. Total expenses 277,621. Other: Program service expenses 20,000. Management and general expenses 1,250. Fundraising expenses 0. Total expenses 21,250.

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IRS990/Desc0Leadership 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Project 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.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Bioscience 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.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Leadership 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.
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IRS990/PYRevenuesLessExpensesAmt0-4893
IRS990/PYSalariesCompEmpBnftPaidAmt066353
IRS990/PYTotalExpensesAmt0217214
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0212321
IRS990/ReconcilationRevenueExpnssAmt0-10626
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt028905
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt03
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt12
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt21
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Advertising and marketing
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc1Space
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc2Accounting services
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0Fair market value
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt1Fair market value
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt2Fair market value
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd1X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd2X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt024300
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt119200
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt27000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
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 26,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,000. Program management: Program service expenses 273,320. Management and general expenses 4,301. Fundraising expenses 0. Total expenses 277,621. Other: Program service expenses 20,000. Management and general expenses 1,250. Fundraising expenses 0. Total expenses 21,250.
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/TotalAssetsBOYAmt097456
IRS990/TotalAssetsEOYAmt0119673
IRS990/TotalAssetsGrp/BOYAmt097456
IRS990/TotalAssetsGrp/EOYAmt0119673
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0549163
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06547
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0189892
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0500991
IRS990/TotalFunctionalExpensesGrp/TotalAmt0697430
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024774
IRS990/TotalLiabilitiesEOYAmt037165
IRS990/TotalLiabilitiesGrp/BOYAmt024774
IRS990/TotalLiabilitiesGrp/EOYAmt037165
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt072682
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt082508
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt0133361
IRS990/TotalOtherProgSrvcRevenueAmt037163
IRS990/TotalProgramServiceExpensesAmt0500991
IRS990/TotalProgramServiceRevenueAmt0137599
IRS990/TotalReportableCompFromOrgAmt0119480
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0137641
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0686804
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt097456
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0119673
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03555
IRS990/TravelGrp/TotalAmt03555
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0Box 5680 53 Broad Street
IRS990/USAddress/CityNm0Providence
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002903
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0ri-bio.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Carol Malysz

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