Beverly, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)North Shore InnoVentures Inc, founded in 2008, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 48% operating margin.
Operate a non-profit business incubator designed to foster innovation in the life sciences and clean tech and thus support economic development.
By the end of 2024, there were 12 Biotech member companies and 24 graduates. Approximately 86 people were employed by the member companies and 620 by the graduates for a total of 706 jobs created...
By the end of 2024, there were 12 Biotech member companies and 24 graduates. Approximately 86 people were employed by the member companies and 620 by the graduates for a total of 706 jobs created. The biotech companies in the incubator also trained 8 interns in the past year. Reduced operations and space reductions by member companies due to COVID along with the costs related to the buildout in FY 2017 such as increased rent, utilities, insurance, depreciation and debt service caused expenses to grow along with revenues resulting in a continued operating loss. Cash flow is more favorable as depreciation represents a large part of the operating loss. An increase in lab space completed in 3Q 2021 has resulted in increased memberships which are expected to offset the increased expenses going forward. No grants were provided by NSIV.
The Cleantech Incubation Program supported 4 companies during the fiscal year. There were a total of fourteen graduates by year end. At the close of 2024, the cleantech companies in the incubator...
The Cleantech Incubation Program supported 4 companies during the fiscal year. There were a total of fourteen graduates by year end. At the close of 2024, the cleantech companies in the incubator employed 24 people and the cleantech graduates employed 273 people for a total of 297 jobs created. The cleantech companies in the incubator trained five interns. Two of the cleantech companies in the program used office and lab space in the incubator routinely; the two others are in the virtual incubation program and utilize our sponsored services and mentoring sessions. Corporate sponsors and a grant from the Mass Clean Energy Center were especially important to helping keep revenues in balance with expenses. The increased lab space completed in Q3 2021 has resulted in increased memberships and space utilization. No grants were provided by NSIV.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $3,239,257 | $2,192,702 | +0.5% |
| Expenses | $1,671,974 | $1,626,228 | +0.0% |
| Net Income | $1,567,283 | $566,474 | +1.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Chris Ilsley | President & CEO | 40.00 |
Officer
Director
|
$119,244 | $0 | $119,244 |
| Harry G McCoy | Chairman | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Chad Robinson | Treasurer | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Jack Swig | Clerk | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Alex Van Adzin | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Bob Barton | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Thomas Forest Farb | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Martha Farmer | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Mary Grant | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| David Reibel | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Jean-Jacques Yarmoff | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Christine Kressirer | COO | 30.00 |
Officer
|
$98,037 | $0 | $98,037 |
| Jeff DeFrank | Manager of Lab Operations | 40.00 |
Highest
|
$105,599 | $0 | $105,599 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $3,239,257 | $1,671,974 | $7,429,445 | $1,567,283 |
| 2023 | $2,192,702 | $1,626,228 | $3,159,154 | $566,474 |
| 2022 | $1,567,904 | $1,579,213 | $2,900,574 | $-11,309 |
| 2022 | $1,641,872 | $1,571,506 | $2,957,587 | $70,366 |
| 2021 | $2,186,020 | $1,369,807 | $2,743,433 | $816,213 |
| 2020 | $1,051,347 | $1,249,471 | $1,354,236 | $-198,124 |
| 2019 | $1,011,237 | $1,314,311 | $1,319,155 | $-303,074 |
| 2018 | $881,835 | $1,314,350 | $1,739,088 | $-432,515 |
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