SOUTHERN WINDSOR COUNTY INCUBATOR … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

PETER ANDREWS

Phone

8028853061

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN WINDSOR COUNTY INCUBATOR INC DBA BLACK RIVER INNOVATION CAMPUS, founded in 2000, is a small nonprofit in the Community Improvement sector that reported $824K in total revenue in fiscal year 2023. Revenue surged 129% from the prior year, signaling strong growth momentum. The organization ran a surplus of $188K, a strong 23% operating margin.

Mission

SOUTHERN WINDSOR COUNTY INCUBATOR DBA BLACK RIVER INNOVATION CAMPUS ACTIVATES THRIVING COMMUNITIES THROUGH STEAM EDUCATION, STARTUP INCUBATION AND ACCELERATION, AND COLLABORATIVE INITIATIVES

Program Service Accomplishments

Program 1

Expenses: $66,876 Revenue: $15,677

ACTUATOR ENTREPRENEURSHIP PROGRAM - IN 2023, WE REDEVELOPED OUR ACTUATOR ENTREPRENEURSHIP PROGRAM TO FUNCTION IN A HYBRID ENVIRONMENT. ONE COHORT OF 7 COMPANIES WAS HOSTED FROM SEPTEMBER TO DECEMBER. OF THESE COMPANIES, THREE CONTINUE TO DEVELOP THEIR COMPANIES WITHIN RURAL VERMONT AND ARE EXPECTED TO LAUNCH NEW PRODUCTS IN 2025.

Program 2

Expenses: $44,882

STEAM EDUCATION PROGRAMS - IN 2023, BRIC PREPARED TO HIRE ITS FIRST FULL TIME DIRECTOR OF STEAM PROGRAMS. THIS POSITION IS DESIGNED TO BUILD ON 2020-2023 IN-SCHOOL AND SUMMER CAMP COMPUTER SCIENCE...

STEAM EDUCATION PROGRAMS - IN 2023, BRIC PREPARED TO HIRE ITS FIRST FULL TIME DIRECTOR OF STEAM PROGRAMS. THIS POSITION IS DESIGNED TO BUILD ON 2020-2023 IN-SCHOOL AND SUMMER CAMP COMPUTER SCIENCE PROGRAMS AND WILL ASSIST IN CURRICULA DEVELOPMENT, AFTERSCHOOL AND SUMMER CAMPS, AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES. SPRINGFIELD WAS SELECTED TO BE IN THE SECOND COMPUTER SCIENCE FOR ALL (CSFORALL) COHORT ALONGSIDE MAJOR CITIES THROUGHOUT THE UNITED STATES. THE INTENT OF THE CSFORALL PROGRAM IS TO DEVELOP A COHORT OF TOWN COMPUTER SCIENCE STAKEHOLDERS TO BUILD PROGRAMS WITHIN AREA SCHOOLS AND AMONG COMMUNITY STAKEHOLDERS. BRIC ACTS AS THE FISCAL SPONSOR FOR THIS COALITION.

Program 3

Expenses: $137,013

TECH-BASED ECONOMIC DEVELOPMENT - IN 2023, BRIC SUBMITTED A DEPARTMENT OF LABOR WORKING OPPORTUNITIES FOR RURAL COMMUNITIES GRANT AND BEGAN TO STRENGTHEN ITS WORKFORCE DEVELOPMENT PROGRAM OFFERINGS. TOGETHER WITH AREA WORKFORCE PARTNERS, BRIC BEGAN TO IDENTIFY EXISTING AND EMERGING TECHNOLOGY WORKFORCE AND OCCUPATION OPPORTUNITIES. THE ORGANIZATION WILL CONTINUE TO WORK WITH THESE PARTNERS IN 2024 TO BUILD PATHWAYS TO EMERGING HIGH WAGE JOBS IN THE REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $808,587

Program Service Revenue $15,677

Investment Income $71

Other Revenue $0

TOTAL REVENUE $824,335

Expense Breakdown

Grants Paid $83,303

Salaries & Benefits $337,317

Fundraising Expenses $0

Program Expenses $248,771

Other Expenses $216,124

TOTAL EXPENSES $636,744

Year-over-Year Comparison

	2023	2022	Change
Revenue	$824,335	$359,920	+1.3%
Expenses	$636,744	$491,635	+0.3%
Net Income	$187,591	$-131,715	-2.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$126,774

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER ANDREWS	CHAIR	1.00	Officer Director	$0	$0	$0
BOB FLINT	VICE CHAIR	1.50	Officer Director	$0	$0	$0
MATT DUNNE	DIRECTOR	0.25	Director	$0	$0	$0
HEATHER FRAHM	DIRECTOR	0.25	Director	$0	$0	$0
PATRICK BRADLEY	DIRECTOR	0.25	Director	$0	$0	$0
SAM COLEMAN	DIRECTOR	0.25	Director	$0	$0	$0
MARK CURRAN	DIRECTOR	0.25	Director	$0	$0	$0
LORIE LOEB	DIRECTOR	0.25	Director	$0	$0	$0
JOSH DUFRESNE	TREASURER	1.00	Officer Director	$0	$0	$0
LYZA DANGER GARDNER	DIRECTOR	0.25	Director	$0	$0	$0
COLIN POLIDOR	DIRECTOR	0.25	Director	$0	$0	$0
VIN FUSCA	EXECUTIVE DIRECTOR	40.00	Officer	$61,046	$3,793	$64,839
MARGUERITE DIBBLE	EXECUTIVE DIRECTOR	40.00	Officer	$61,935	$0	$61,935

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
2024	No data	No data	No data	No data
2023	$824,335	$636,744	$331,699	$187,591
2022	$359,920	$491,635	$136,755	$-131,715
2021	$675,915	$585,918	$268,695	$89,997
2020	$261,852	$385,852	$173,983	$-124,000
2019	$194,207	$230,045	$299,968	$-35,838

SOUTHERN WINDSOR COUNTY INCUBATOR INC DBA BLACK RIVER INNOVATION CAMPUS