philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Cure Innovations LLC FY2023 filing

Tax-deductible

Groton, CT501(c)(3)Youth DevelopmentEIN 46-3840398Revenue $437K in FY2023

On file with the IRScurecommons.org93 Shennecossett Rd, 06340-5115 · Groton, CTTax-exempt since Dec 2015Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

The organization was formed to manage Cure innovation commons, an incubator for bioscience and other technologies.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $146K a year · 39% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 16 voting members
Looks good: 14 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
$437K
+40% vs prior year
Spent
$563K
To programs
94%
Net assets
$3.5M
By yearFY2020–FY2024
Revenue
$437K
FY2023▲ +40%
Tap a bar for its year
Revenue by fiscal year
FY2020$367K
FY2021$353K
FY2022$313K
FY2023$437K
FY2024$421K
FY2024$227K
Expenses
$563K
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$435K
FY2021$480K
FY2022$529K
FY2023$563K
FY2024$611K
FY2024$321K
Net assets
$3.5M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.9M
FY2021$3.8M
FY2022$3.6M
FY2023$3.5M
FY2024$3.3M
FY2024$3.2M

From the FY2023 Form 990 (year ending June 2023) · see the original

Give Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2015.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $528K Management & general 6% · $36K

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

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

17 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Kimberly Nash
Operating Di
$100,001Pt VII · Sec A
Stanley Choy
Chair & Trea
$0Pt VII · Sec A
Paul Hughes
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Josh Geballe
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Kimberly Nash’s $105K as Operating Di is at the 89th 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 · 1 named individual · Part VII

NameFY2024FY2023
Kimberly Nash$105,000$100,001

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 Cure Innovations LLC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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 15aNo

Programs and updates

Manages an incubator for bioscience and technology innovation.

Questions for Cure Innovations LLC

Tap to ask. Cure Innovations LLC sees how many people are interested.

Your first name shows with your question. Cure Innovations LLC answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $528K · in their own filed words · FY2022
01

Cure innovations promotes economic development in an economically-depressed area in the state of connecticut through incubator support of fledging bioscience and technology companies and also engages in stem (science, technology, engineering and math) and other educational activities related to bioscience, biopharmaceuticals, healthcare…

$528Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$437K
Ln 12
Other incomeLn 4–11$437K
Money outPt IX
$563K
Ln 25
Programscol B$528K
Managementcol C$36K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$435K
Total assetsLn 16$4.5M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$437K
Total revenueLn 12$437K
Assets in detailPt X, end of year
CashLn 1$435K
Cash and savings togetherLn 1–2$435K
Land, buildings, equipmentLn 10c$4.1M
Total assetsLn 16$4.5M
LiabilitiesLn 26$1.0M
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$408K$435K
Land, buildings, equipmentLn 10c$4.2M$4.1M
Total assetsLn 16$4.6M$4.5M
LiabilitiesLn 26$1.0M$1.0M
Net assetsLn 32$3.6M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$155K$147K$8K
Other employee benefitsLn 9$20K$19K$987
Payroll taxesLn 10$8K$8K$406
Accounting feesLn 11c$19K$18K$940
Other fees for servicesLn 11g$79$79
Advertising and promotionLn 12$5K$4K$233
Office expensesLn 13$10K$10K$435
Information technologyLn 14$7K$7K$374
OccupancyLn 16$67K$56K$11K
Conferences, conventions and meetingsLn 19$324$308$16
InterestLn 20$52K$49K$3K
Depreciation, depletion and amortizationLn 22$144K$137K$7K
Other expenses (24a–d)Ln 24$76K$72K$4K
Total functional expensesLn 25$563K$528K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $421K$611K−$191K$3.3M 990 PDF
FY2023 Viewing $437K$563K−$126K$3.5M 990 PDF
FY2022 $313K$529K−$216K$3.6M 990 PDF
FY2021 $353K$480K−$127K$3.8M 990 PDF
FY2020 $367K$435K−$68K$3.9M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $437,421 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $312,505$437,421
I-12 Total revenuePrior year $312,505$437,421
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $182,018$182,781
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $346,657$380,506
I-18 Total expensesPrior year $528,675$563,287
I-19 Revenue less expensesPrior year −$216,170−$125,866
Part VI · Governance 14 of 16 board members independent, 2 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members14
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $437,421 across 3 lines filed
VIII-6 Net rental income or lossExcluded from tax $417,421$417,421
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $20,000$20,000
VIII-12 Total revenueRelated to mission $20,000 · Excluded from tax $417,421$437,421
Part IX · Statement of functional expenses $563,287 across 13 lines filed
IX-7 Other salaries and wagesPrograms $147,250 · Management $7,750$155,000
IX-9 Other employee benefitsPrograms $18,747 · Management $987$19,734
IX-10 Payroll taxesPrograms $7,641 · Management $406$8,047
IX-11c Accounting feesPrograms $17,858 · Management $940$18,798
IX-11g Other fees for servicesManagement $79$79
IX-12 Advertising and promotionPrograms $4,425 · Management $233$4,658
IX-13 Office expensesPrograms $9,846 · Management $435$10,281
IX-14 Information technologyPrograms $7,098 · Management $374$7,472
IX-16 OccupancyPrograms $55,979 · Management $11,117$67,096
IX-19 Conferences, conventions and meetingsPrograms $308 · Management $16$324
IX-20 InterestPrograms $49,023 · Management $2,580$51,603
IX-22 Depreciation, depletion and amortizationPrograms $137,206 · Management $7,222$144,428
IX-24 Other expenses (24a–d)Programs $72,159 · Management $3,608$75,767
IX-25 Total functional expensesPrograms $527,540 · Management $35,747 · Fundraising $0$563,287
Part X · Balance sheet $4,513,049 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $408,485$435,259
X-4 Accounts receivableStart of year $7,130$19,971
X-9 Prepaid expenses and deferred chargesStart of year $10,825$2,027
X-10c Land, buildings and equipment, netStart of year $4,184,061$4,055,792
X-16 Total assetsStart of year $4,610,501$4,513,049
X-17 Accounts payable and accrued expensesStart of year $28,111$82,013
X-19 Deferred revenueStart of year $23,438$20,511
X-25 Other liabilitiesStart of year $18,392$32,362
X-26 Total liabilitiesStart of year $1,007,640$1,036,054
X-27 Net assets without donor restrictionsStart of year $3,602,861$3,476,995
X-32 Total net assets or fund balancesStart of year $3,602,861$3,476,995
X-33 Total liabilities and net assetsStart of year $4,610,501$4,513,049
Part XI · Reconciliation of net assets $3,476,995 net assets at year end
XI-1 Total revenue$437,421
XI-2 Total expenses$563,287
XI-3 Revenue less expenses−$125,866
XI-4 Net assets at start of year$3,602,861
XI-10 Net assets at end of year$3,476,995

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.