Inversant INC: FY2021 Nonprofit Profile & Form 990 (EIN 27-1462229)

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

Name	FY2021	FY2020
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.

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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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1 program · $974K · in their own filed words · FY2021

01

In 2021, inversant increased the total number of families served from 2,000 to 2,115, celebrating 115 accomplished 2021 high school graduates 115 families received $73,900 in savings match distributions and scholarships. Over the course of 2021, inversant engaged 9,257 people, exceeding our anticipated target.

$974Kprogram 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

Boys and Girls Clubs of Boston INCMA · FY2020$50,646

Salem Public SchoolsFY2020$36,405

La Vida INCMA · FY2020$11,000

Kipp Academy Lynn Collegiate High SchoolFY2020$5,545

By the numbers

The FY2021 990, line by line.

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1The main four

Money inPt VIII

$1.1M

Ln 12

Gifts and grantsLn 1h$885K

Other incomeLn 4–11$192K

Investment incomeLn 3$65

Money outPt IX

$1.7M

Ln 25

Programscol B$974K

Managementcol C$427K

Fundraisingcol D$311K

Owns and owesPt X

$614K

net assets · Ln 32

Cash and savingsLn 1–2$480K

Total assetsLn 16$1.3M

LiabilitiesLn 26$646K

PeoplePt VI, VII

20

listed · VII A

PaidVII A1

Voting boardVI 1a18

IndependentVI 1b18

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$885K

Government grantsLn 1e$260K

Investment incomeLn 3$65

Other incomeLn 4–11$192K

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$472K

SavingsLn 2$9K

Cash and savings togetherLn 1–2$480K

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$136K

Total assetsLn 16$1.3M

LiabilitiesLn 26$646K

Net assetsLn 32$614K

OperationsPt I, VI

EmployeesI 512

VolunteersI 640

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$437K	$480K
Land, buildings, equipmentLn 10c	$100K	$0
Total assetsLn 16	$1.7M	$1.3M
LiabilitiesLn 26	$406K	$646K
Net assetsLn 32	$1.3M	$614K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$5K	$5K
Grants to domestic individualsLn 2	$38K	$38K
Pay of current officers, directors and key staffLn 5	$167K	$56K	$56K	$56K
Other salaries and wagesLn 7	$501K	$328K	$98K	$76K
Pension plan contributionsLn 8	$9K	$6K	$2K	$1K
Other employee benefitsLn 9	$33K	$22K	$6K	$5K
Payroll taxesLn 10	$54K	$31K	$12K	$10K
Accounting feesLn 11c	$122K		$122K
Professional fundraising feesLn 11e	$52K			$52K
Other fees for servicesLn 11g	$482K	$341K	$68K	$73K
Advertising and promotionLn 12	$10K	$10K
Office expensesLn 13	$30K	$14K	$13K	$3K
Information technologyLn 14	$41K	$29K	$6K	$6K
OccupancyLn 16	$87K	$50K	$20K	$17K
TravelLn 17	$366	$260	$51	$55
Conferences, conventions and meetingsLn 19	$6K	$6K
InterestLn 20	$8K		$8K
Depreciation, depletion and amortizationLn 22	$42K	$24K	$10K	$8K
Other expenses (24a–d)Ln 24	$25K	$15K	$6K	$5K
Total functional expensesLn 25	$1.7M	$974K	$427K	$311K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest	$499K	$1.1M	−$566K	$49K	990 PDF
FY2021 Viewing	$1.1M	$1.7M	−$635K	$614K	990 PDF
FY2020	$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 I · Grants A · Public support J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $1,077,205 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,732,711$885,465

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $14$65

I-11 Other revenuePrior year $0$191,675

I-12 Total revenuePrior year $2,732,725$1,077,205

I-13 Grants and similar amounts paidPrior year $179,647$42,843

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $799,080$763,614

I-16a Professional fundraising feesPrior year $50,889$52,198

I-17 Other expensesPrior year $588,403$853,800

I-18 Total expensesPrior year $1,618,019$1,712,455

I-19 Revenue less expensesPrior year $1,114,706−$635,250

Part VI · Governance 18 of 18 board members independent, 1 to look at

VI-1a Voting members of the governing body18

VI-1b Independent voting members18

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

Part VIII · Statement of revenue $1,077,205 across 6 lines filed

VIII-1e Government grants$260,320

VIII-1f All other contributions, gifts and grants$625,145

VIII-1h Total contributions, gifts and grants$885,465

VIII-3 Investment incomeExcluded from tax $65$65

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $191,675$191,675

VIII-12 Total revenueRelated to mission $191,675 · Unrelated business $0 · Excluded from tax $65$1,077,205

Part IX · Statement of functional expenses $1,712,455 across 19 lines filed

IX-1 Grants to domestic organizationsPrograms $5,065$5,065

IX-2 Grants to domestic individualsPrograms $37,778$37,778

IX-5 Pay of current officers, directors and key staffPrograms $55,660 · Management $55,660 · Fundraising $55,660$166,980

IX-7 Other salaries and wagesPrograms $327,623 · Management $98,208 · Fundraising $75,560$501,391

IX-8 Pension plan contributionsPrograms $5,683 · Management $1,645 · Fundraising $1,247$8,575

IX-9 Other employee benefitsPrograms $21,562 · Management $6,433 · Fundraising $4,937$32,932

IX-10 Payroll taxesPrograms $31,076 · Management $12,259 · Fundraising $10,401$53,736

IX-11c Accounting feesManagement $122,382$122,382

IX-11e Professional fundraising feesFundraising $52,198$52,198

IX-11g Other fees for servicesPrograms $341,036 · Management $68,304 · Fundraising $72,629$481,969

IX-12 Advertising and promotionPrograms $10,056$10,056

IX-13 Office expensesPrograms $14,233 · Management $12,955 · Fundraising $2,879$30,067

IX-14 Information technologyPrograms $28,867 · Management $5,692 · Fundraising $6,099$40,658

IX-16 OccupancyPrograms $50,068 · Management $19,750 · Fundraising $16,758$86,576

IX-17 TravelPrograms $260 · Management $51 · Fundraising $55$366

IX-19 Conferences, conventions and meetingsPrograms $6,342$6,342

IX-20 InterestManagement $8,076$8,076

IX-22 Depreciation, depletion and amortizationPrograms $24,223 · Management $9,556 · Fundraising $8,108$41,887

IX-24 Other expenses (24a–d)Programs $14,787 · Management $5,742 · Fundraising $4,892$25,421

IX-25 Total functional expensesPrograms $974,319 · Management $426,713 · Fundraising $311,423$1,712,455

Part X · Balance sheet $1,260,534 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $320,068$471,602

X-2 Savings and temporary cash investmentsStart of year $117,321$8,639

X-3 Pledges and grants receivableStart of year $1,150,443$630,756

X-9 Prepaid expenses and deferred chargesStart of year $26,644$13,482

X-10c Land, buildings and equipment, netStart of year $100,059$0

X-15 Other assetsStart of year $0$136,055

X-16 Total assetsStart of year $1,714,535$1,260,534

X-17 Accounts payable and accrued expensesStart of year $140,933$146,344

X-24 Unsecured notes and loans payableStart of year $149,900$499,900

X-25 Other liabilitiesStart of year $114,800$0

X-26 Total liabilitiesStart of year $405,633$646,244

X-27 Net assets without donor restrictionsStart of year $158,459−$2,253

X-28 Net assets with donor restrictionsStart of year $1,150,443$616,543

X-32 Total net assets or fund balancesStart of year $1,308,902$614,290

X-33 Total liabilities and net assetsStart of year $1,714,535$1,260,534

Part XI · Reconciliation of net assets $614,290 net assets at year end

XI-1 Total revenue$1,077,205

XI-2 Total expenses$1,712,455

XI-3 Revenue less expenses−$635,250

XI-4 Net assets at start of year$1,308,902

XI-9 Other changes in net assets−$59,362

XI-10 Net assets at end of year$614,290

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Inversant INC FY2021 filing

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