NEXTCORPS INC

EIN: 161195028 501(c)(3) Social Science

ROCHESTER, NY

Total Revenue
$13,201,479
Total Expenses
$10,041,666
Total Assets
$44,800,835
Net Assets
$36,547,516
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Organization Details

Formation Year
1987
Legal Domicile
NY
Principal Officer
JAMES S SENALL
Phone
5852142400
Tax Period
2024-07-01 to 2025-06-30

NEXTCORPS INC, founded in 1987, is a mid-sized nonprofit in the Social Science sector that reported $13.2M in total revenue in fiscal year 2024. The organization ran a surplus of $3.2M, a strong 24% operating margin.

Mission

NEXTCORPS IS A NON-PROFIT HELPING INNOVATIVE TECHNOLOGY COMPANIES LAUNCH AND GROW.

Program Service Accomplishments

Program 1
Expenses: $5,260,301 Revenue: $515,743

THIS GROUP OF PROGRAMS IS ACCELERATING OUR REGION'S TRANSFORMATION INTO A TOP TECH HUB IN AMERICA BY CONNECTING ENTREPRENEURS AND BUSINESSES WITH THE SUPPORT THEY NEED TO GROW, INCLUDING EXPERTS...

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THIS GROUP OF PROGRAMS IS ACCELERATING OUR REGION'S TRANSFORMATION INTO A TOP TECH HUB IN AMERICA BY CONNECTING ENTREPRENEURS AND BUSINESSES WITH THE SUPPORT THEY NEED TO GROW, INCLUDING EXPERTS, CAPITAL, CUSTOMERS, AND VETTED PARTNERS AND SUPPLIERS. THIS INCLUDES OPERATING AN INCUBATOR TO HELP FOUNDERS DEVELOP INNOVATIVE TECHNOLOGIES; CLIMATE TECH ACCELERATOR PROGRAMS THAT HELP SPEED THE COMMERCIALIZATION OF CLEAN ENERGY SOLUTIONS; MANUFACTURING ACCELERATOR PROGRAMMING TO HELP SCALE HARDWARE FROM PROTOTYPE TO MASS PRODUCTION IN NEW YORK STATE, AND A NO-CODE SOFTWARE BOOTCAMP THAT TEACHES NON TECHNICAL PEOPLE HOW TO LAUNCH A SOFTWARE BUSINESS, AND RELATED EDUCATIONAL SESSIONS THAT ENGAGED MORE THAN 170 ENTREPRENEURS AND THEIR EMERGING COMPANIES THROUGHOUT THE YEAR.

Program 2
Expenses: $1,875,498 Revenue: $1,079,395

THE MEP CENTER AT NEXTCORPS CONNECTS PRINTER, FOOD AND BEVERAGE, OR PRODUCTION-RELATED COMPANIES LOCATED IN ROCHESTER AND THE FINGER LAKES REGION TO LOCAL AND NATIONAL RESOURCES TO HELP THEM IMPROVE...

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THE MEP CENTER AT NEXTCORPS CONNECTS PRINTER, FOOD AND BEVERAGE, OR PRODUCTION-RELATED COMPANIES LOCATED IN ROCHESTER AND THE FINGER LAKES REGION TO LOCAL AND NATIONAL RESOURCES TO HELP THEM IMPROVE THEIR COMPETITIVENESS AND GROWTH. MORE THAN 90 PROJECTS WERE COMPLETED OVER THE LAST FOUR QUARTERS FOR CLIENTS, RESULTING IN APPROXIMATELY $190 MILLION IN ECONOMIC IMPACT AND 695 JOBS CREATED OR RETAINED (CLIENT REPORTED DATA). ADDITIONALLY, THE CENTER OFFERED ASSISTANCE TO STARTUP COMPANIES THAT ARE IN THE PROCESS OF GETTING THEIR PRODUCTS MANUFACTURED.

Program 3
Expenses: $1,798,706 Revenue: $115,981

A GLOBAL ACCELERATOR PROGRAM, COMPETITION, AND INVESTMENT MECHANISM THAT IMPROVES THE INVESTMENT READINESS AND COMMERCIALIZATION TRAJECTORY OF STARTUPS THAT ARE DEVELOPING DEEP TECH ENABLED BY...

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A GLOBAL ACCELERATOR PROGRAM, COMPETITION, AND INVESTMENT MECHANISM THAT IMPROVES THE INVESTMENT READINESS AND COMMERCIALIZATION TRAJECTORY OF STARTUPS THAT ARE DEVELOPING DEEP TECH ENABLED BY OPTICS, PHOTONICS, OR IMAGING. COMPANIES ACCEPTED INTO LUMINATE ARE SOLVING PRESSING PROBLEMS IN ALMOST EVERY INDUSTRY, FROM AUGMENTED/VIRTUAL REALITY, AUTONOMOUS VEHICLES AND LIFE SCIENCES, TO QUANTUM COMPUTING, SECURITY, AGTECH, AND MUCH MORE. BY GRANT DESIGN, THE PROGRAM SURPLUS IS APPLIED AS INVESTMENT IN PROMISING PARTICIPANTS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,315,962
Program Service Revenue $1,711,119
Investment Income $174,398
Other Revenue $0
TOTAL REVENUE $13,201,479

Expense Breakdown

Grants Paid $826,667
Salaries & Benefits $4,203,822
Fundraising Expenses $0
Program Expenses $8,934,505
Other Expenses $5,011,177
TOTAL EXPENSES $10,041,666

Year-over-Year Comparison

2024 2023 Change
Revenue $13,201,479 $13,633,546 0.0%
Expenses $10,041,666 $11,235,051 -0.1%
Net Income $3,159,813 $2,398,495 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
12
Employees
N/A
Volunteers
25

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$649,851
Total Directors
15
$1,693,459
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THERESA B MAZZULLO DIRECTOR 0.50
Director
$0 $55,233 $367,857
CHRISTINE B WHITMAN DIRECTOR - THRU NOV 2024 0.50
Director
$0 $0 $0
LORI GREEN DIRECTOR, VICE CHAIR & SEC 0.50
Officer Director
$0 $0 $0
PETER G ROBINSON DIRECTOR & CHAIRMAN 0.50
Officer Director
$0 $132,020 $649,851
JAMES S SENALL DIRECTOR & PRESIDENT 40.00
Officer Director
$0 $0 $0
ARUNAS CHESONIS DIRECTOR 0.50
Director
$0 $0 $0
DANA MILLER DIRECTOR 0.50
Director
$0 $0 $0
JAY POPLI DIRECTOR & TREASURER 0.50
Officer Director
$0 $0 $0
RYNE RAFFAELLE DIRECTOR 0.50
Director
$0 $0 $0
JOE WESLEY DIRECTOR - THRU FEB 2025 0.50
Director
$0 $0 $0
ANA LISS DIRECTOR 0.50
Director
$0 $0 $0
DAN BURNS DIRECTOR 0.50
Director
$0 $0 $0
STEVE DEWHURST DIRECTOR 0.50
Director
$0 $52,857 $675,751
JEFFREY QUAIN DIRECTOR 0.50
Director
$0 $0 $0
TIMOTHY THANEY DIRECTOR 0.50
Director
$0 $0 $0
JOHN F MAGEE CFO 40.00
Officer
$0 $0 $0
SUJATHA RAMANUJAN MANAGING DIRECTOR, LUMINAT 40.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $13,201,479 $10,041,666 $44,800,835 $3,159,813
2024 $13,633,546 $11,235,051 $40,617,824 $2,398,495
2023 $14,656,839 $12,013,233 $36,635,804 $2,643,606
2022 $13,022,284 $9,944,756 $34,895,664 $3,077,528
2021 $13,616,302 $9,500,970 $28,231,131 $4,115,332
2020 $10,249,202 $8,275,835 $26,831,605 $1,973,367
2019 $10,775,735 $8,320,156 $22,367,149 $2,455,579
2018 $17,942,048 $7,384,198 $30,500,522 $10,557,850
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