NEW HAVEN INNOVATION LABS INC

EIN: 873267187 501(c)(3) Community Improvement

NEW HAVEN, CT

Total Revenue
$978,044
Total Expenses
$978,044
Total Assets
$169,540
Net Assets
N/A
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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
2021
Legal Domicile
CT
Principal Officer
MARGARET P MASON
Phone
2035629901
Tax Period
2024-01-01 to 2024-12-31

NEW HAVEN INNOVATION LABS INC, founded in 2021, is a small nonprofit in the Community Improvement sector that reported $978K in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

TO PROMOTE, SUPPORT AND FURTHER THE ECONOMIC HEALTH AND DEVELOPMENT OF THE CITY OF NEW HAVEN AND ITS REGIONS THEREBY RELIEVING GOVERNMENTAL BURDENS, TO ADVANCE SCIENCE BY ENGAGING IN EFFORTS TO SUPPORT BIOMEDICAL AND OTHER SCIENTIFIC RESEARCH AND TO BENEFIT ITS SOLE MEMBER THE JOHN B. PIERCE LABORATORY, INC. ( A 501(C)(3) ORGANIZATION). THE CORPORATION'S ACTIVITIES INCLUDE OPERATING AN INCUBATOR FACILITY FOR START-UP AND FLEDGLING COMPANIES ENGAGED IN BIO-SCIENTIFIC RESEARCH AND SUPPORTING SUCH RESEARCH, ENGAGING IN OTHER ACTIVITIES THAT SUPPORT JOB CREATION, PROMOTING COLLABORATION AND SHARING OF KNOWLEDGE AMONG SCIENTISTS AND ADVANCING EDUCATION AND TRAINING TO LOCAL STUDENTS IN BIOSCIENCE AND 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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $978,044
Investment Income $0
Other Revenue $0
TOTAL REVENUE $978,044

Expense Breakdown

Grants Paid $542,268
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $542,268
Other Expenses $435,776
TOTAL EXPENSES $978,044

Year-over-Year Comparison

2024 2023 Change
Revenue $978,044 $753,321 +0.3%
Expenses $978,044 $973,645 +0.0%
Net Income $0 $-220,324 -1.0%
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

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Governance

Voting Members
3
Independent Members
1
Employees
N/A
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
0
$0
Total Directors
5
$636,428
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN GEIBEL PAST DIRECTOR 2.00
Director
$0 $29,031 $220,837
MARGARET MASON DIRECTOR 2.00
Director
$0 $0 $13,932
MICHELE SOLOMON DIRECTOR 2.00
Director
$0 $56,728 $234,829
KEVIN MYATT DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER VENDOLA PAST DIRECTOR 2.00
Director
$0 $13,677 $166,830
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 $978,044 $978,044 $169,540 No data
2023 $753,321 $973,645 $280,064 $-220,324
2022 $408,452 $269,130 $344,717 $139,322
2021 $85,179 $4,177 $131,557 $81,002
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