INNOVATION STUDIO INC

EIN: 455191933 501(c)(3) Community Improvement

ROXBURY, MA

Total Revenue
$1,723,186
Total Expenses
$2,252,650
Total Assets
$487,657
Net Assets
$-227,043
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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
2012
Legal Domicile
MA
Principal Officer
DANIEL VIDANA
Phone
8572541857
Tax Period
2022-01-01 to 2022-12-31

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.

Mission

ENHANCES AND ACCELERATES THE INNOVATION PROCESS THROUGH SPACES, PROGRAMS, AND CONVERSATIONS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $420,389
Program Service Revenue $914,597
Investment Income $12
Other Revenue $388,188
TOTAL REVENUE $1,723,186

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,375,380
Fundraising Expenses $0
Program Expenses $1,540,425
Other Expenses $877,270
TOTAL EXPENSES $2,252,650

Year-over-Year Comparison

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%
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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Governance

Voting Members
12
Independent Members
12
Employees
21
Volunteers
50

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
5
$158,094
Total Directors
14
$158,094
Key Employees
0
$0
Highest Compensated
1
reported
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
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
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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