ROXBURY, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)INNOVATION STUDIO INC, founded in 2012, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2022. Revenue decreased 17% compared to the prior year. Expenses of $2.3M exceeded revenue, resulting in a 31% operating deficit.
THE MISSION AT INNOVATION STUDIO IS TO MAKE INNOVATION, ENTREPRENEURSHIP, AND BUSINESS OWNERSHIP ATTAINABLE THROUGH AN EMPOWERING AND INCLUSIVE NETWORK OF COMMUNITY SPACES AND INDIVIDUALIZED PATHWAYS. INNOVATION STUDIO'S VISION IS TO BE THE HOME WHERE ASPIRING INDIVIDUALS ARE ENCOURAGED TO CONFIDENTLY GROW THEIR IDEAS INTO SUCCESSFUL BUSINESSES.
DISTRICT HALL BOSTON & BOSTON SEAPORT PARTNERSHIPS: DISTRICT HALL IS THE RESULT OF A COLLABORATIVE PUBLIC (CITY OF BOSTON), PRIVATE PARTNERSHIP THAT OPENED IN THE FALL OF 2013. DISTRICT HALL IS A...
DISTRICT HALL BOSTON & BOSTON SEAPORT PARTNERSHIPS: DISTRICT HALL IS THE RESULT OF A COLLABORATIVE PUBLIC (CITY OF BOSTON), PRIVATE PARTNERSHIP THAT OPENED IN THE FALL OF 2013. DISTRICT HALL IS A DEDICATED CIVIC SPACE WITH THE GOAL CREATING AN ENVIRONMENT THAT FOSTERS INNOVATION, COLLABORATION, AND ENTREPRENEURSHIP. DISTRICT HALL HAS OPEN WORKSPACE, CLASSROOMS, ASSEMBLY SPACE, FLEXIBLE USE 'POD', AND WRITABLE SURFACES EVERYWHERE. THE ORGANIZATION WORKS WITH MUNICIPALITIES, NON-PROFIT GROUPS, COLLEGE AND UNIVERSITIES, INDUSTRY ASSOCIATIONS, LOCAL NEIGHBORHOOD GROUPS, AND COMPANIES TO MAKE INFORMATIONAL RESOURCES AVAILABLE AND PRESENTS EDUCATIONAL PROGRAMS AND ACTIVITIES THAT ENCOURAGE INNOVATORS TO CONNECT, COLLABORATE AND START A NEW BUSINESS. THESE TYPES OF PROGRAMS THAT HAVE ALREADY BEEN RUN AT DISTRICT HALL INCLUDE HACKATHONS, PITCH COMPETITIONS, PANEL DISCUSSIONS, FIRESIDE CHATS, INTERVIEWS, DEMONSTRATIONS, CONFERENCES, COMPANY MEETINGS, BRAINSTORMING AND COMMUNITY GATHERINGS. AS A RESULT OF THE ORGANIZATION'S SUCCESS WITH DISTRICT HALL, OTHER BOSTON SEAPORT INNOVATION AND WORK SPACES HAVE SOUGHT OUT INNOVATION STUDIO FORMING PARTNERSHIPS TO ACTIVATE THEIR EXISTING INNOVATION SPACES. INNOVATION STUDIO FORMED A PARTNERSHIP WITH WORCESTER POLYTECHNIC INSTITUTE, WHO HAS INNOVATION AND MEETING SPACE IN THE SEAPORT, HELPING TO INCREASE TRAFFIC TO THEIR LOCATION AND BRING AWARENESS TO THEIR PRESENCE IN THE CITY. A PARTNERSHIP WITH ECHELON SEAPORT ALLOWED INNOVATION STUDIO TO DEMONSTRATE HOW TO SUCCESSFULLY RUN THEIR ON-SITE INNOVATION CENTER THAT IS AVAILABLE TO THEIR RESIDENTS AND LOCAL AREA BUSINESSES AND INDIVIDUALS.
BIZ BODEGA AND RHODE ISLAND PROGRAMS: WITH THE INTENTION OF INCREASING SOCIAL AND ECONOMIC MOBILITY FOR RESIDENTS IN PROVIDENCE, INNOVATION STUDIO PARTNERED WITH ONE NEIGHBORHOOD BUILDERS TO OPEN AND...
BIZ BODEGA AND RHODE ISLAND PROGRAMS: WITH THE INTENTION OF INCREASING SOCIAL AND ECONOMIC MOBILITY FOR RESIDENTS IN PROVIDENCE, INNOVATION STUDIO PARTNERED WITH ONE NEIGHBORHOOD BUILDERS TO OPEN AND OPERATE BIZ BODEGA, A COMPREHENSIVE AND VIBRANT BUSINESS SUPPORT OFFICE FOR NEW AND GROWING SMALL BUSINESSES LOCATED IN CENTRAL PROVIDENCE. INNOVATION STUDIO PROVIDES LIVE AND VIRTUAL PROGRAMS TO CREATE IMPACTFUL AND INCLUSIVE PATHWAYS TO COLLABORATION. THIS IS ACHIEVED BY CULTIVATING RELATIONSHIPS AND PROVIDING RESOURCES FOR ANYONE TO SUCCESSFULLY LAUNCH AND GROW A BUSINESS. INNOVATION STUDIO IS COMMITTED TO EQUITABLE AVAILABILITY OF RESOURCES TO RESIDENTS IN PROVIDENCE AND RHODE ISLAND.
ROXBURY INNOVATION CENTER (RIC): THE ROXBURY INNOVATION CENTER IS A CIVIC INNOVATION CENTER THAT WILL SUPPORT LOCAL ECONOMIC DEVELOPMENT BY ENCOURAGING INNOVATION AND ENTREPRENEURSHIP FOCUSED ON THE...
ROXBURY INNOVATION CENTER (RIC): THE ROXBURY INNOVATION CENTER IS A CIVIC INNOVATION CENTER THAT WILL SUPPORT LOCAL ECONOMIC DEVELOPMENT BY ENCOURAGING INNOVATION AND ENTREPRENEURSHIP FOCUSED ON THE CITY OF BOSTON NEIGHBORHOODS OF ROXBURY, DORCHESTER AND MATTAPAN. THESE NEIGHBORS HAVE A HIGHER UNEMPLOYMENT RATE AND A GREATER WEALTH INCOME GAP FROM THE REST OF THE CITY OF BOSTON. SINCE OPENING IN THE FALL OF 2015, RIC HAS ACTIVATED PROGRAMS AND EVENTS TO HELP ADULTS AND YOUTH LEARN SMALL BUSINESS/STARTUP AND TECHNICAL SKILLS TO MAKE ENTREPRENEURSHIP AND INNOVATION VIABLE CAREER OPTIONS FOR ALL. IT HAS ALWAYS BEEN THE MISSION OF THE ORGANIZATION THAT "INNOVATION IS FOR EVERYONE- AND THROUGH PROGRAMMING AT RIC, THE ORGANIZATION HAS CONTINUED THIS MISSION. RIC ALSO PROVIDES A PLACE FOR THE LOCAL COMMUNITY TO GATHER, OBTAIN ADVICE AND CONNECT WITH OTHER RESOURCES FROM AROUND GREATER BOSTON AND THE WORLD THROUGH PITCH NIGHTS AND OTHER PROGRAMMING. THE ORGANIZATION ALSO PRODUCES PROGRAMMING TO ACTIVATE AND CONNECT THE THREE PHYSICAL SPACES TO THE INNOVATION COMMUNITY LOCALLY, NATIONALLY, AND INTERNATIONALLY.
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)| 2022 | 2021 | Change | |
|---|---|---|---|
| Revenue | $1,723,186 | $2,069,490 | -0.2% |
| Expenses | $2,252,650 | $2,293,396 | 0.0% |
| Net Income | $-529,464 | $-223,906 | +1.4% |
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 |
|---|---|---|---|---|---|---|
| DANIEL VIDANA | PRESIDENT | 40.00 |
Officer
Director
|
$132,150 | $25,944 | $158,094 |
| MITCH TYSON | IM. PAST BOA | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| KEVIN WIANT | PAST FINANCE | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| VINIT NIHJAWAN | VICE CHAIR | 1.50 |
Officer
Director
|
$0 | $0 | $0 |
| CHRISTOPHER MULLER | EXTERNAL AFF | 1.50 |
Officer
Director
|
$0 | $0 | $0 |
| DAMON COX | MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MELISSA JAMES | MEMBER (TERM | 1.00 |
Director
|
$0 | $0 | $0 |
| ZALIKA WINITZER | MEMBER (TERM | 1.00 |
Director
|
$0 | $0 | $0 |
| CARMEN DIAZ-JUSINO | BOARD CHAIR | 1.50 |
Director
|
$0 | $0 | $0 |
| CHRISTIAN PONCE | TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| ROSANNA GARCIA | MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| HOLLY JAMES | MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID LUCIER | MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| ANGEL SILVESTRINI | MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| ASHLEY MEDIROS | VP STRATEGY | 40.00 |
Highest
|
$107,308 | $24,996 | $132,304 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2022 | $1,723,186 | $2,252,650 | $487,657 | $-529,464 |
| 2021 | $2,069,490 | $2,293,396 | $968,961 | $-223,906 |
| 2020 | $4,064,836 | $4,144,891 | $1,389,900 | $-80,055 |
| 2018 | $1,763,324 | $2,049,449 | $979,709 | $-286,125 |
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