CURE INNOVATIONS LLC

EIN: 463840398 501(c)(3) Youth Development

GROTON, CT

Total Revenue
$420,556
Total Expenses
$611,224
Total Assets
$4,431,109
Net Assets
$3,286,327
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
CT
Principal Officer
STANLEY CHOY
Phone
2034702720
Tax Period
2023-07-01 to 2024-06-30

CURE INNOVATIONS LLC, founded in 2013, is a small nonprofit in the Youth Development sector that reported $421K in total revenue in fiscal year 2023. Expenses of $611K exceeded revenue, resulting in a 45% operating deficit.

Mission

THE ORGANIZATION WAS FORMED TO MANAGE CURE INNOVATION COMMONS, AN INCUBATOR FOR BIOSCIENCE AND OTHER TECHNOLOGIES.

Program Service Accomplishments

Program 1
Expenses: $570,464

CURE INNOVATIONS PROMOTES ECONOMIC DEVELOPMENT IN AN ECONOMICALLY-DEPRESSED AREA IN THE STATE OF CONNECTICUT THROUGH INCUBATOR SUPPORT OF FLEDGING BIOSCIENCE AND TECHNOLOGY COMPANIES AND ALSO ENGAGES...

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CURE INNOVATIONS PROMOTES ECONOMIC DEVELOPMENT IN AN ECONOMICALLY-DEPRESSED AREA IN THE STATE OF CONNECTICUT THROUGH INCUBATOR SUPPORT OF FLEDGING BIOSCIENCE AND TECHNOLOGY COMPANIES AND ALSO ENGAGES IN STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATH) AND OTHER EDUCATIONAL ACTIVITIES RELATED TO BIOSCIENCE, BIOPHARMACEUTICALS, HEALTHCARE IT, AND MEDICAL DEVICES RESEARCH.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $420,556
TOTAL REVENUE $420,556

Expense Breakdown

Grants Paid $0
Salaries & Benefits $249,763
Fundraising Expenses $0
Program Expenses $570,464
Other Expenses $361,461
TOTAL EXPENSES $611,224

Year-over-Year Comparison

2023 2022 Change
Revenue $420,556 $437,421 0.0%
Expenses $611,224 $563,287 +0.1%
Net Income $-190,668 $-125,866 +0.5%
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
22
Independent Members
22
Employees
1
Volunteers
N/A

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
3
$80,167
Total Directors
22
$80,167
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAWN HOCEVAR PRESIDENT & 10.00
Officer Director
$0 $0 $41,667
STANLEY CHOY CHAIR & TREA 0.30
Officer Director
$0 $0 $38,500
PAUL HUGHES SECRETARY 0.10
Officer Director
$0 $0 $0
MARK ADAMS DIRECTOR 0.10
Director
$0 $0 $0
ABHIJIT BANERJEE DIRECTOR 0.10
Director
$0 $0 $0
ROBERT BETTIGOLE DIRECTOR 0.10
Director
$0 $0 $0
JEAN-MICHEL BOERS DIRECTOR 0.10
Director
$0 $0 $0
KAT KAYSER-BRICKER DIRECTOR 0.10
Director
$0 $0 $0
SENG H CHENG DIRECTOR 0.10
Director
$0 $0 $0
PAUL FONTEYNE DIRECTOR 0.10
Director
$0 $0 $0
JOSH GEBALLE DIRECTOR 0.10
Director
$0 $0 $0
JODIE GILLON DIRECTOR 0.10
Director
$0 $0 $0
JOHN G HOUSTON DIRECTOR 0.10
Director
$0 $0 $0
RAJA MANGIPUDY DIRECTOR 0.10
Director
$0 $0 $0
DAVID I SCHEER DIRECTOR 0.10
Director
$0 $0 $0
JACKIE SCHUMACHER DIRECTOR 0.10
Director
$0 $0 $0
ERIKA SMITH DIRECTOR 0.10
Director
$0 $0 $0
J DORMER STEPHEN DIRECTOR 0.10
Director
$0 $0 $0
MATT STOREYGARD DIRECTOR 0.10
Director
$0 $0 $0
MIKE STOW DIRECTOR 0.10
Director
$0 $0 $0
CARTER WINSTANLEY DIRECTOR 0.10
Director
$0 $0 $0
KAILE ZAGGER DIRECTOR 0.10
Director
$0 $0 $0
KIMBERLY NASH OPERATING DI 40.00
Highest
$105,000 $0 $105,000
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
2024 $420,556 $611,224 $4,431,109 $-190,668
2023 $437,421 $563,287 $4,513,049 $-125,866
2022 $312,505 $528,675 $4,610,501 $-216,170
2021 $352,861 $479,867 $4,823,325 $-127,006
2020 $366,769 $434,892 $4,881,311 $-68,123
2019 $307,652 $351,889 $4,703,102 $-44,237
2018 $344,688 $391,939 $4,700,811 $-47,251
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