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Inversant INC FY2020 filing

IRS exemption revoked

Lynn, MA501(c)(3)Youth Development EIN 27-1462229Revenue $2.7M in FY2020

On file with the IRSinversant.org120 Munroe Street, 01901-0000 · Lynn, MATax-exempt since Mar 2010Publicly supported charity — 170(b)(1)(A)(vi)

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Inversant's mission is to ensure that through parental engagement every low-to-moderate income family has the resources and understanding they need to achieve their goals for higher education.

66¢ of each $1 spent went to programs.
$508K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $29K a year · 2% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$508K
to officers and key staff · 31% of spending
Concern: pay to officers and key staff is 31% of spending; over 30%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $65K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$406K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
Spent
$1.6M
To programs
66%
Net assets
$1.3M
By yearFY2020–FY2022
Revenue
$2.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$1.1M
FY2022$499K
Expenses
$1.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.7M
FY2022$1.1M
Net assets
$1.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$614K
FY2022$49K

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2026
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022. IRS ruling in Mar 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $1.1M Management & general 15% · $240K Fundraising 19% · $304K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

42 people listed on the 990; $508K paid to officers and key staff.

Part VII, Section A · reportable compensation
Heidi Hanckock
Director of Advancement
$152,546Pt VII · Sec A
Heidi Hanckock
Director of Advancement
$152,546Pt VII · Sec A
$101,500Pt VII · Sec A
$101,500Pt VII · Sec A
Stacy Scott
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Heidi Hancock’s $151K as CEO is at the 98th percentile of top reported officer pay among 1993 $100K–1M youth development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2021FY2020
Heidi Hanckock—$152,546
Heidi Hancock$150,673—
Charles Desmond—$101,500

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Inversant INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers low-income families with resources and understanding for higher education goals through parental engagement.

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Provided by the organization

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2 programs · $2.1M · in their own filed words · FY2020
01

In 2020, inversant increased the total number of families served from 1,800 to 2,000, celebrating 164 accomplished 2020 high school graduates from 159 inversant families in eight boston-area cities. 145 families received $103,296 in savings match distributions.

$1.1Mprogram expense
02

In 2020, inversant increased the total number of families served from 1,800 to 2,000, celebrating 164 accomplished 2020 high school graduates from 159 inversant families in eight boston-area cities. 145 families received $103,296 in savings match distributions.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Boston Foundation INCFY2024$65K
Total grants receivedfrom 1 funder$65K
Grants paid · 14 grants · $454K · 2020–2022
Unitemized GrantFY2022$52,196
Unitemized GrantFY2022$6,000
Unitemized GrantFY2021$36,000
Salem Public SchoolsFY2021$5,065
Unitemized GrantFY2020$73,815
Unitemized GrantFY2020$73,815
Boys and Girls Clubs of Boston INCMA · FY2020$50,646
Boys and Girls Clubs of Boston INCMA · FY2020$50,646
Salem Public SchoolsFY2020$36,405
Salem Public SchoolsFY2020$36,405
La Vida INCMA · FY2020$11,000
La Vida INCMA · FY2020$11,000
Kipp Academy Lynn Collegiate High SchoolFY2020$5,545
Kipp Academy Lynn Collegiate High SchoolFY2020$5,545

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.7M
Ln 12
Gifts and grantsLn 1h$2.7M
Investment incomeLn 3$14
Money outPt IX
$1.6M
Ln 25
Programscol B$1.1M
Managementcol C$240K
Fundraisingcol D$304K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$437K
Total assetsLn 16$1.7M
LiabilitiesLn 26$406K
PeoplePt VI, VII
42
listed · VII A
PaidVII A4
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.7M
Investment incomeLn 3$14
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$437K
Total assetsLn 16$1.7M
LiabilitiesLn 26$406K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 512
VolunteersI 640
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $499K$1.1M−$566K$49K 990 PDF
FY2021 $1.1M$1.7M−$635K$614K 990 PDF
FY2020 Viewing $2.7M$1.6M$1.1M$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2020 990 (1 part)
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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