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The structural, thermal, and magnetic behaviors, as well as the martensitic phase transformation and related magnetocaloric response of Ni50Mn35In14.25B0.75 annealed ribbons have been investigated using room-temperature X-ray diffraction (XRD), differential scanning calorimetry (DSC), and magnetization measurements. Ni50Mn35In14.25B0.75 annealed ribbons show a sharper change in magnetization at the martensitic transition, resulting in larger magnetic entropy changes in comparison to bulk Ni50Mn35In14.25B0.75. A drastic shift in the martensitic transformation temperature (TM) of 70 K to higher temperature was observed for the annealed ribbons relative to that of the bulk (TM = 240 K). The results obtained for magnetic, thermal, structural, and magnetocaloric properties of annealed ribbons have been compared to those of the corresponding bulk alloys.