North Shore InnoVentures Inc (EIN 262737088) - Form 990 Financial Analysis & Trantor Score

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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

2008

Legal Domicile

Principal Officer

Chris Ilsley

Phone

9788670600

Tax Period

2023-07-01 to 2024-06-30

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.

Mission

Operate incubator designed to foster innovation in the life sciences and clean tech.

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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 $1,936,208

Program Service Revenue $1,303,024

Investment Income $25

Other Revenue $0

TOTAL REVENUE $3,239,257

Expense Breakdown

Grants Paid $0

Salaries & Benefits $587,670

Fundraising Expenses $75,182

Program Expenses $1,522,822

Other Expenses $1,084,304

TOTAL EXPENSES $1,671,974

Year-over-Year Comparison

	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%

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

$217,281

Total Directors

$119,244

Key Employees

Highest Compensated

reported

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

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	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

North Shore InnoVentures Inc