Overview
What is North Shore Innoventures Inc?
North Shore Innoventures Inc is a non-profit organization based in Beverly, Massachusetts, primarily dedicated to promoting innovation in the life sciences and clean tech sectors. By the end of 2022, they had 17 active member biotech companies and 23 graduated ones, collectively creating 367 jobs. The member companies employed approximately 60 people, while the graduates employed 307. North Shore Innoventures Inc also offered internship opportunities for 11 individuals in the past year. Despite increased expenses due to reduced operations during COVID-19 and costs associated with building renovations in 2017, they continue to operate a business incubator, aiming to foster innovation and support economic development in the life sciences and clean tech industries.
Official website here: www.nsiv.org
Is North Shore Innoventures Inc legitimate?
North Shore Innoventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Shore Innoventures Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $166,290
Professional Fundraising Fees: $0
Other Salaries and Wages: $253,854
For more financial information, click here
What is the mission statement of North Shore Innoventures Inc?
North Shore Innoventures Inc is dedicated to promoting innovation in the life sciences and clean tech sectors. Their mission is to operate a non-profit business incubator that fosters such innovation, thereby contributing to economic development. By the end of 2022, they had supported 17 biotech member companies and 23 graduates, creating a total of 367 jobs through these companies and their graduates. Despite facing operational challenges and increased expenses, they have been able to attract more member companies, which is expected to offset these costs going forward. Notably, they have not received any grants from North Shore Innoventures Inc.
Official website here: www.nsiv.org
Who is the CEO of North Shore Innoventures Inc?
Chris Ilsley is the President & Ceo of North Shore Innoventures Inc. The CEO's salary of North Shore Innoventures Inc is $110,025 and their total compensation is $110,025.
Official website here: www.nsiv.org
What is the revenue of North Shore Innoventures Inc?
Who are the executives of North Shore Innoventures Inc and what are their salaries?
The average compensation at North Shore Innoventures Inc during 2022 was $70,024. There are 6 employees and 40 volunteers at North Shore Innoventures Inc.
Here are 12 key members and their salaries (North Shore Innoventures Inc's CEO's salary is $110,025 and their total compensation is $110,025):
- Chris Ilsley (President & Ceo) [Trustee/Director]
- Thomas Kinneman (Vice President & Coo) [Trustee/Director]
- Harry G Mccoy (Chairman) [Trustee/Director]
- Alex Van Adzin (Director)
- Bob Barton (Director)
- Thomas Forest Farb (Director)
- Martha Farmer (Director)
- Mary Grant (Director)
- David Reibel (Director)
- Jean-Jacques Yarmoff (Director)
- Chad Robinson (Treasurer)
- Jack Swig (Clerk)
Official website here: www.nsiv.org
Where can I find the form 990 for North Shore Innoventures Inc?
The North Shore Innoventures Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.nsiv.org
Learn more at the official website: www.nsiv.org
Mission Statement of North Shore Innoventures Inc
North Shore Innoventures Inc, a non-profit organization, is dedicated to fostering innovation in the life sciences and clean tech sectors. Operating as a business incubator, its mission is to support economic development by nurturing innovative companies in these fields. By the end of 2022, the incubator had 17 biotech member companies and 23 graduates, collectively employing approximately 367 individuals, with 60 working directly for the member companies and 307 for the graduates. The incubator also provided training opportunities for 11 interns in the past year. Despite facing operational challenges, including increased expenses due to COVID-19 and costs related to facility renovations, the incubator continues to strive for growth, with an increase in lab space expected to attract more members and offset costs. However, it's worth noting that North Shore Innoventures Inc did not receive any grants to support its operations.
Impact
This information is meant to be a general summary of North Shore Innoventures Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Tuesday, June 18, 2024
North Shore Innoventures Inc, through its operation of an incubator designed to foster innovation in the life sciences and clean tech industries, has had a significant impact on job creation and skills development. By the end of 2022, the incubator had supported 17 biotech member companies and 23 graduates, resulting in the creation of 367 jobs through direct employment. Additionally, the biotech companies within the incubator have provided training opportunities to 11 interns, contributing to the growth of talent in these specialized fields. Despite challenges such as the impact of COVID-19 and increased operational costs, the incubator's expansion in lab space has led to greater membership levels, positioning it to offset rising expenses and continue supporting innovation and economic development in the region.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Service Fees
Revenue
$789,156
Organization Details
Founding Year
2008
Phone
(978) 867-0600
Principal Officer
Chris Ilsley
Main Address
100 Cummings Center 451-C, Beverly, MA, 01915
Website
www.nsiv.org
NTEE Category
Code: C00 - Environment
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