Is it real?
No. The IRS revoked its tax exemption. Latest filing on record: FY2022. IRS ruling in Sep 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
75 cents of each dollar spent went to programs.
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
10 people listed on the 990; $244K paid to officers and key staff.
Daniel Vidana’s $132K as President is at the 37th percentile of top reported officer pay among 2832 $1–10M community 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 · 4 named individuals · Part VII
| Name | FY2022 | FY2021 | FY2020 |
|---|---|---|---|
| Tuni Renaud Schartner | — | $120,209 | $135,442 |
| Daniel Vidana | $132,150 | $124,238 | $109,038 |
| Ashley Mediros | $107,308 | — | — |
| Kevin Wiant | — | — | $51,124 |
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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Fosters innovation through shared spaces, programs, and discussions.
Questions for Innovation Studio INC
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District Hall Boston
District hall is the result of a collaborative public (city of boston)- private partnership that opened in the fall of 2013. District hall is a dedicated civic space which the organization operates under an agreement with the city of boston's initiative to transform 1,000 acres of environment that fosters innovation, collaboration , and…
Providence
In 2019, the organization opened its weekly gathering and district hall space in providence. These programs operate out of the new innovation center, developed by wexford. The organization partnered with cambridge innovation center (cic) to activate the building as cic operates a co-working business in the building and work with other…
Cambridge Thursday Gathering for Innovators and Entrepreneurs
The mission of the cambridge weekly gathering is to provide the interactive forum for the exchange of information, informational resources and connections that they need to start and grow businesses with a view to creating sustainable innovation-driven businesses in the greater boston area.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $713K | $658K |
| Land, buildings, equipmentLn 10c | $104K | $35K |
| Total assetsLn 16 | $1.4M | $969K |
| LiabilitiesLn 26 | $912K | $715K |
| Net assetsLn 32 | $478K | $254K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $281K | $171K | $110K | |
| Other salaries and wagesLn 7 | $815K | $700K | $114K | |
| Pension plan contributionsLn 8 | $15K | $4K | $11K | |
| Other employee benefitsLn 9 | $129K | $115K | $14K | |
| Payroll taxesLn 10 | $97K | $81K | $16K | |
| Management feesLn 11a | $50K | $50K | ||
| Accounting feesLn 11c | $141K | $141K | ||
| Other fees for servicesLn 11g | $146K | $74K | $72K | |
| Advertising and promotionLn 12 | $2K | $420 | $1K | |
| Office expensesLn 13 | $224K | $163K | $61K | |
| Information technologyLn 14 | $72 | $72 | ||
| OccupancyLn 16 | $208K | $193K | $16K | |
| TravelLn 17 | $4K | $709 | $4K | |
| Conferences, conventions and meetingsLn 19 | $65K | $65K | $23 | |
| InterestLn 20 | $4K | $4K | ||
| Depreciation, depletion and amortizationLn 22 | $49K | $49K | ||
| InsuranceLn 23 | $12K | $12K | ||
| Other expenses (24a–d)Ln 24 | $52K | $52K | ||
| Total functional expensesLn 25 | $2.3M | $1.7M | $575K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2022 Latest | $1.7M | $2.3M | −$529K | −$227K | 990 PDF |
| FY2021 Viewing | $2.1M | $2.3M | −$224K | $254K | 990 PDF |
| FY2020 | $4.1M | $4.1M | −$80K | $478K | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $2,069,490 revenue, 12 lines filed
Part VI · Governance 8 of 9 board members independent, no flags
Part VIII · Statement of revenue $2,069,490 across 8 lines filed
Part IX · Statement of functional expenses $2,293,396 across 18 lines filed
Part X · Balance sheet $968,961 assets, 15 lines filed
Part XI · Reconciliation of net assets $254,269 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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