Civic Intelligence

Innovation Studio Inc.

990 • Fiscal year 2018 • EIN 45-5191933

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 22, 2019

Organization ProfileWWW.VENCAF.ORG
1 Broadway FL 14Cambridge, MA 02142

(617) 758-4221

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.71x

Higher debt load relative to assets than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.40x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

81st percentile

$139,566

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

4th percentile

-27%

Faster asset growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

38th percentile

-0.3%

Faster revenue growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$979,709

Down $359,120 (-27%) from 2017

Net Assets

Down

$282,788

Down $286,125 (-50%) from 2017

Liabilities

Down

$696,921

Down $72,995 (-9.5%) from 2017

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin16th percentile

Revenue

Down

$1,763,324

Down $6,002 (-0.3%) from 2017

Expenses

Up

$2,049,449

Up $226,791 (+12%) from 2017

Net Income

Down

-$286,125

Down $232,793 (-436%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2012: $122,584Liabilities 2012: $92,5942012Assets 2013: $114,703Liabilities 2013: $210,763Net Assets 2013: -$96,0602013Assets 2014: $885,138Liabilities 2014: $536,283Net Assets 2014: $348,8552014Assets 2015: $1,274,796Liabilities 2015: $961,150Net Assets 2015: $313,6462015Assets 2016: $1,069,822Liabilities 2016: $447,577Net Assets 2016: $622,2452016Assets 2017: $1,338,829Liabilities 2017: $769,916Net Assets 2017: $568,9132017Assets 2018: $979,709Liabilities 2018: $696,921Net Assets 2018: $282,7882018Assets 2019: $1,265,760Liabilities 2019: $704,913Net Assets 2019: $560,8472019Assets 2020: $1,389,900Liabilities 2020: $911,725Net Assets 2020: $478,1752020Assets 2021: $968,961Liabilities 2021: $714,692Net Assets 2021: $254,2692021Assets 2022: $487,657Liabilities 2022: $714,700Net Assets 2022: -$227,0432022

Highlighted filing

2018

Assets$979,709
Liabilities$696,921
Net Assets$282,788
Open 2018 Filing

Operations Trend

Revenue Growth38th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $75,163Expenses 2012: $45,173Net Income 2012: $29,9902012Revenue 2013: $306,083Expenses 2013: $412,133Net Income 2013: -$106,0502013Revenue 2014: $1,699,193Expenses 2014: $1,034,737Net Income 2014: $664,4562014Revenue 2015: $1,378,825Expenses 2015: $1,403,543Net Income 2015: -$24,7182015Revenue 2016: $1,807,552Expenses 2016: $1,498,953Net Income 2016: $308,5992016Revenue 2017: $1,769,326Expenses 2017: $1,822,658Net Income 2017: -$53,3322017Revenue 2018: $1,763,324Expenses 2018: $2,049,449Net Income 2018: -$286,1252018Revenue 2019: $4,793,113Expenses 2019: $4,515,054Net Income 2019: $278,0592019Revenue 2020: $4,064,836Expenses 2020: $4,144,891Net Income 2020: -$80,0552020Revenue 2021: $2,069,490Expenses 2021: $2,293,396Net Income 2021: -$223,9062021Revenue 2022: $1,723,186Expenses 2022: $2,252,650Net Income 2022: -$529,4642022

Highlighted filing

2018

Revenue$1,763,324
Expenses$2,049,449
Net Income-$286,125
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 22, 2019
Return Version
2018v3.1
Gross Receipts
$1,766,159
Mission and Program Overview

Mission

The organization connects innovators to make great things happen. The organization's mission is to educate and connect anyone with an idea to the resources and relationships they need in order to successfully launch and grow businesses. The organization's vision is to change the world by ensuring innovation is for everyone.

Enhances and accelerates the innovation process through spaces, programs, and conversations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$723,551$490,579▼ $232,972
Land, Buildings, and Equipment, Net$299,128$191,348▼ $107,780
Other Notes and Loans Receivable, Net$135,000$90,000▼ $45,000
Accounts Receivable$68,239$88,667▲ $20,428
Prepaid Expenses and Deferred Charges$15,298$14,004▼ $1,294
Total Assets$1,338,829$979,709▼ $359,120
Other Assets Total$97,613$105,111▲ $7,498
Liabilities
Deferred Revenue$515,007$355,492▼ $159,515
Accounts Payable and Accrued Expenses$254,909$341,429▲ $86,520
Total Liabilities$769,916$696,921▼ $72,995
Net Assets / Fund Balance
Unrestricted Net Assets$568,913$282,788▼ $286,125
Total Net Assets Fund Balance$568,913$282,788▼ $286,125
Total Liabilities and Net Assets / Fund Balance$1,338,829$979,709▼ $359,120

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$154,181$307,879$462,060
Leasehold Improvements$37,167$19,712$56,879
Other Assets Org$105,111--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin WiantExecutive Director, BostonFT$120,858$18,708$139,566

Board Members and Trustees

NameTitle
Mitch TysonPresident & Treasurer
Chris MulletDirector
Damon CoxDirector
Melissa JamesDirector
Vinit NijhawanDirector
Susan Windham-bannisterDirector (until 12/31/18)
Travis SheridanDirector (until 12/31/18)
Revenue and Support

Revenue Composition

Contributions and Grants
$769,507
Program Service Revenue
$789,834
Investment Income
$-2,745
Other Revenue
$206,728
All Other Contributions
$769,507
Change in Net Assets
$-286,125

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table3$30,053Fair Market Value
Total Noncash Contributions3$30,053-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,763,324
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$39,870
Total Revenue per Audited Statements
$1,803,194
Total Revenue per Form 990
$1,763,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,155,506
Other Expenses$893,943
Total Fundraising Expense$24,240
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$683,825$114,869$19,615$818,309
Other Employee Benefits$162,350$20,414$3,058$185,822
Current Officers, Directors, Trustees, and Key Employees$139,566--$139,566
All Other Expenses$74,080$61,830$20$135,930
Depreciation Depletion$117,139$309-$117,448
Occupancy$115,341--$115,341
Fees for Services Accounting$43,295$13,791-$57,086
Fees for Services Management$50,000--$50,000
Advertising$23,590$23,565$58$47,213
Other Expenses$37,651$45,501-$37,651
Information Technology$28,397$6,361-$34,758
Conferences and Meetings$17,485$14,620$184$32,289
Fees for Services Other$27,093$445-$27,538
Travel$14,006$2,078$520$16,604
Pension Plan Contributions$8,436$2,588$785$11,809
Insurance$4,722$1,574-$6,296
Office Expenses$4,722$178-$4,900
Fees for Services Legal$343--$343
Total Functional Expenses$1,714,663$310,546$24,240$2,049,449

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,089,319
Expenses per Audited Statements$2,049,449
Total Expenses per Form 990$2,049,449
Expenses Not Reported on Form 990$39,870
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A complete form 990 will be reviewed and approved by the foundation's board members prior to the filing of the return.”

Form 990, Part VI, Section B, Line 12C

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the response of the member and making such further investigation as may be warranted in the circumstances, the board or committee determines that the member has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

Form 990, Part VI, Section B, Line 15A

“Based on comparability data and review by independent persons, the full board of trustees proposes, votes on, and sets the compensation for the executive director. There was contemporaneous substantiation of the deliberation and decision. No other officers are compensated by the organization.”

Form 990, Part VI, Section C, Line 19

“The form 990 and all governing documents, conflict of interest policy, and financial statements are available upon written request.”

Filing and Contact Details

Filer

Filer Name
Venture Cafe Foundation Inc
EIN
45-5191933
Phone
6177584221
Address
1 BROADWAY FL 14, CAMBRIDGE, MA 02142

Signing Officer

Name
Kevin Wiant
Title
Executive Director
Phone
6177584221
Signed
2019-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Wiant
Formed
2012
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
5
Employees
23
Volunteers
70

Preparer

Firm
Cbiz Mhm LLC
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Brenda L Booth
Phone
6177610600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The foundation has identified its tax status as a tax-exempt entity as a tax position; however, the foundation has determined that such tax position does not result in an uncertainty requiring recognition. The foundation is not currently under examination by any taxing jurisdictions. The foundation's federal and state tax returns are generally open for examination for three years following the date filed.”

Raw XML AppendixShowing 400 of 509 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0VENTURE CAFE CAMBRIDGE THURSDAY GATHERING FOR INNOVATORS AND ENTREPRENEURS:THE MISSION OF THE VENTURE CAFE'S WEEKLY GATHERINGS IS TO PROVIDE AN INTERACTIVE FORUM FOR THE EXCHANGE OF INFORMATION, INFORMATIONAL RESOURCES AND CONNECTIONS THAT THEY NEED TO START AND GROW BUSINESSES WITH A VIEW TO CREATING SUSTAINABLE INNOVATION-DRIVEN BUSINESSES IN THE GREATER BOSTON AREA. IT IS GUIDED BY THE BELIEF THAT INNOVATION IS A SOCIAL PROCESS FUELED BY COMMUNITY AND COLLABORATION. THE VENTURE CAFE IS A WEEKLY GATHERING AND SET OF PROGRAMS PRESENTLY SET IN THE 5TH FLOOR CAFE OF THE CAMBRIDGE INNOVATION CENTER (CIC) IN KENDALL SQUARE. THE VENTURE CAFE OCCURS EVERY THURSDAY AFTERNOON FROM 3PM TO 8PM. WITH AN AVERAGE ATTENDANCE OF OVER 500 PEOPLE EACH WEEK, IT IS THE LARGEST CROSS-DISCIPLINARY GATHERING OF THE INNOVATION AND STARTUP COMMUNITIES IN NEW ENGLAND. IT PROVIDES A SPACE AND FORUM FOR, EDUCATIONAL PRESENTATIONS, INTRODUCTION OF NEW BUSINESSES, EXPERIENCE SHARING AND PROBLEM SOLVING WITH A UNIQUE OPERATING MODEL THAT HAS BEEN NOTED AS BEING HIGHLY EFFECTIVE. IN 2018, VENTURE CAFE KENDALL HOSTED OVER 800 EVENTS ATTENDED BY OVER 24,000 PEOPLE. SOME EXAMPLES OF EDUCATIONAL TOPICS COVERED AT VENTURE CAFE ARE:- SKILLS TRAINING IN CROWDFUNDING, FUNDRAISING FROM VCS AND ANGELS, MARKETING, NETWORKING, COMPANY VALUATION, COMPANY CORPORATE STRUCTURING, TEAM BUILDING.- COMPANY PITCH FEEDBACK SESSIONS FOR COMPANIES FROM SUSTAINABILITY MARKET, LIFE SCIENCES MARKET, DEFENSE, ROBOTICS, FOOD, AUGMENTED REALITY AND MORE. - INTERNATIONAL MARKET & PARTNERSHIP OPPORTUNITIES INCLUDING JAPAN, GERMANY, UNITED KINGDOM, SWITZERLAND, FRANCE, RUSSIA, ITALY, MEXICO AND OTHERS.NOTABLY, VENTURE CAFE'S SUCCESS IS WELL KNOWN. IT HAS BECOME A DESTINATION FOR VISITORS FROM ACROSS THE UNITED STATES AND AROUND THE WORLD SEEKING TO LEARN ABOUT AND CONNECT WITH THE GREATER BOSTON'S INNOVATION ECOSYSTEM, AND IN SOME CASES WITH A VIEW TO REPLICATING VENTURE CAFE'S MODEL AT HOME. GROUPS FROM DOZENS OF CITIES AND COUNTRIES HAVE VISITED THE VENTURE CAFE AND AT LEAST 25 NATIONS HAVE HELD NATION-SPECIFIC EVENTS AT THE CAFE. THE VENTURE CAFE THURSDAY GATHERING IS NOW BEING REPLICATED BY OTHER VENTURE CAFE NONPROFIT ENTITIES AS PART OF A GROWING NETWORK. SEPARATELY OPERATED VENTURE CAFE'S HAVE NOW OPENED IN ST. LOUIS IN 2014, ROTTERDAM IN 2015, MIAMI IN 2016, WINSTON SALEM IN 2017, PHILADELPHIA AND TOKYO IN 2018.
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IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT & TREASURER
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IRS990/IRPDocumentCnt011
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0191348
IRS990/LandBldgEquipCostOrOtherBssAmt0518939
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt02835
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE VENTURE CAFE FOUNDATION CONNECTS INNOVATORS TO MAKE GREAT THINGS HAPPEN. WE BELIEVE ANYONE WITH AN IDEA HAS THE POTENTIAL TO BE AN INNOVATOR, AND THAT INNOVATION IS PRESENT EVERYWHERE. OUR VISION IS TO CREATE A NETWORK OF EMPOWERED INDIVIDUALS AND COMMUNITIES WHO FEEL CONFIDENT IN THEIR IDEAS AND HAVE THE RESOURCES TO ACHIEVE THEM. BY PROVIDING SPACES, PROGRAMS, AND CONNECTIONS, WE CAN STRENGTHEN OUR LOCAL AND GLOBAL COMMUNITIES TO TACKLE PROBLEMS WITH CREATIVE SOLUTIONS. OUR MISSION IS TO BROADEN, CONNECT, AND SUPPORT AN INCLUSIVE INNOVATION COMMUNITY THROUGH A PUBLIC NETWORK OF SPACES AND PROGRAMS TO HELP ANYONE WITH AN IDEA HAVE THE OPPORTUNITY TO SUCCEED. VENTURE CAFE HAS BEEN OPERATING SITES AND PROGRAMS IN GREATER BOSTON TO ACHIEVE ITS MISSION SINCE 2010. WE HAVE A STRONG RECORD OF PROVIDING VALUE TO THE INNOVATION COMMUNITY. WE TRACK QUANTITATIVE AS WELL AS QUALITATIVE IMPACT OF OUR PROGRAMS.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc0SERVICE PROVIDERS
IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/Desc2LICENSE & FILING FEES
IRS990/OtherExpensesGrp/Desc3KITCHEN SUPPLIES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16000
IRS990/ProgSrvcAccomActy2Grp/Desc0DISTRICT HALL: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 WHICH VENTURE CAFE FOUNDATION OPERATES UNDER AN AGREEMENT WITH THE CITY OF BOSTON. THE INNOVATION DISTRICT IS THE CITY OF BOSTON'S INITIATIVE TO TRANSFORM 1,000 ACRES OF UNDERUTILIZED WATERFRONT PARCELS IN SOUTH BOSTON INTO AN URBAN ENVIRONMENT THAT FOSTERS INNOVATION, COLLABORATION, AND ENTREPRENEURSHIP. AS A RESULT OF VENTURE CAFE'S SUCCESS IN MANAGING THE INNOVATION CONVERSATION AND EDUCATIONAL PROGRAMS IN CAMBRIDGE, THE CITY OF BOSTON ASKED IT TO RUN PROGRAMMING AND OPERATIONS OF THE DISTRICT HALL. DISTRICT HALL HAS OPEN WORKSPACE, CLASSROOMS, ASSEMBLY SPACE, FLEXIBLE USE 'PODS', AND WRITABLE SURFACES EVERYWHERE. VENTURE CAFE WORKS WITH MUNICIPALITIES, NON-PROFIT GROUPS, COLLEGES AND UNIVERSITIES, INDUSTRY ASSOCIATIONS, LOCAL NEIGHBORHOOD GROUPS, AND COMPANIES TO MAKE AVAILABLE INFORMATIONAL RESOURCES AND PRESENT EDUCATIONAL PROGRAMS AND ACTIVITIES THAT ENCOURAGE INNOVATORS TO CONNECT, COLLABORATE AND TO START NEW BUSINESSES. THE 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. CITY OF BOSTON PARTNER PROGRAMS ON ACCESS TO CAPITAL MARKETS AND OPPORTUNITIES IN NEW URBAN MECHANICS PROGRAMMING. THE ACCESS TO CAPITAL MARKETS WORKSHOP WAS AIMED AT ENTREPRENEURS, STARTUPS, AND GROWING SMALL BUSINESSES THAT ARE NAVIGATING THE COMPLEX WORLD OF CAPITAL ACCESS, AND INCLUDED PRESENTATIONS ON EQUITY FINANCING, BANK FINANCING, AND OTHER EARLY STAGE CAPITAL ALTERNATIVES.IN 2018 OUR DISTRICT HALL TEAM WORKED WITH HUNDREDS OF GROUPS TO PRODUCE INNOVATION AND ENTREPRENEURSHIP FOCUSED PROGRAMS. SOME OF THE METRICS THAT WE TRACK FOR THE VENTURE CAFE ARE: -HOSTED OVER 1000 EVENTS.-OVER 90,000 PEOPLE ATTENDED THE EVENTS AND USED THE LOUNGE. -DISTRICT HALL HAS OVER $1M IN SPARE RENTAL VALUE TO THE INNOVATION COMMUNITY THROUGH DISCOUNTS AND EVENT SPONSORSHIPS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0799555
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0858757
IRS990/ProgSrvcAccomActy3Grp/Desc0ROXBURY 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. SINCE OPENING IN THE FALL OF 2015, ROXBURY INNOVATION CENTER 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 VENTURE CAFE FOUNDATION THAT "INNOVATION IS FOR EVERYONE AND THROUGH PROGRAMMING AT ROXBURY INNOVATION CENTER, WE HAVE CONTINUED THIS MISSION. RIC ALSO PROVIDES A PLACE FOR THE LOCAL INNOVATION COMMUNITY. RIC ALSO PROVIDES A PLACE FOR THE LOCAL INNOVATION COMMUNITY TO GATHER, OBTAIN ADVICE AND CONNECT WITH OTHER RESOURCES FROM AROUND GREATER BOSTON AND THE WORLD THROUGH OUR PITCH NIGHTS AND OTHER PROGRAMMING. VENTURE CAFE ALSO PRODUCES PROGRAMMING TO ACTIVATE AND CONNECT OUR THREE PHYSICAL SPACES TO THE INNOVATION COMMUNITY LOCALLY, NATIONALLY, AND INTERNATIONALLY.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0395251
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt044713
IRS990/ProgSrvcAccomActyOtherGrp/Desc0CORPORATE ENGAGEMENT:THE CORPORATE ENGAGEMENT PROGRAM PROVIDES EXECUTIVES AND BUSINESS DEVELOPMENT PROFESSIONALS FROM LARGER COMPANIES WITH INFORMATION AND EDUCATIONAL RESOURCES ABOUT THE BOSTON AREA WITH A VIEW TO ASSIST THEM IN WORKING WITH LOCAL STARTUPS THROUGH PARTNERSHIPS AND INVESTMENTS. THE PROGRAM ACCELERATES THE ABILITY OF STARTUP COMPANIES TO CONNECT WITH LARGER COMPANIES FOR CUSTOMERS, DISTRIBUTION PARTNERS OR INVESTORS. THE PROGRAM MEMBERS SO FAR HAVE INCLUDED BRITISH TELECOM, NTT DOCOMO (JAPAN), EASTERN BANK, AND VERIZON WIRELESS.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1INNOVATION VISITORS BUREAU (IVB):THE INNOVATION VISITORS BUREAU (IVB) IS A PLATFORM FOR EDUCATING AND CONNECTING INNOVATION PLAYERS WORLDWIDE TO THE MASSACHUSETTS INNOVATION ECOSYSTEM. IVB PROVIDES INFORMATION AND RESOURCES TO FOREIGN AND DOMESTIC INDIVIDUALS AND BUSINESSES ABOUT THE MASSACHUSETTS INNOVATION ECOSYSTEM, FACILITATES OPPORTUNITIES TO VISIT BOSTON AREA INNOVATION-RELATED INSTITUTIONS AND PROVIDES OPPORTUNITIES FOR THEM TO TAKE PART IN LOCAL INNOVATION-RELATED ACTIVITIES. THE GOAL IS TO FOSTER INTERNATIONAL LINKAGES WITH THE MASSACHUSETTS INNOVATION ECONOMY WITH THE AIM OF CREATING CONCRETE, VALUABLE OUTCOMES, SUCH AS INBOUND DIRECT INVESTMENT, STRATEGIC PARTNERSHIPS AND COLLABORATIONS THAT LEAD TO INCREASED EXPORTS OF MASSACHUSETTS PRODUCTS AND SERVICES. IVB ORGANIZES VISITS THAT PROVIDE VISITORS WITH INSIGHT INTO MASSACHUSETTS' INNOVATION ECOSYSTEM. WE BELIEVE THAT INNOVATION IS ONE OF THE MOST PROMISING PATHS TO MAKING THE WORLD BETTER, SO WE SEEK TO INSPIRE OTHER REGIONS BY MASSACHUSETTS' EXAMPLE. THE TYPES OF VISITING DELEGATIONS THAT IVB SERVICES ARE:- COUNTRY, REGIONAL AND LOCAL GOVERNMENT OFFICIALS- UNIVERSITY OFFICIALS AND EDUCATORS- STUDENT DELEGATIONS- INDUSTRY ASSOCIATIONS- CORPORATE GROUPSTOURS HAVE INCLUDED MEMBERS OF NATIONAL PARLIAMENTS, DIRECTORS OF GOVERNMENTAL ECONOMIC DEVELOPMENT AGENCIES, AND CEOS OF COMPANIES.INTERNATIONAL CONSULATES, THE MASS OFFICE OF HOUSING AND ECONOMIC DEVELOPMENT AND THE MASS OFFICE OF INTERNATIONAL TRADE AND INVESTMENT (MOITI) REFER VISITING INNOVATION DELEGATIONS TO IVB FOR THE PURPOSE OF COORDINATING VISITS TO MASSACHUSETTS.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2STARTHUB:THE MOST COMPREHENSIVE ONLINE RESOURCES CENTER FOR BOSTON'S STARTUP AND INNOVATION COMMUNITY, INCLUDING PROGRAMS, EVENT, RESOURCES, JOB, INVESTORS AND MORE. STARTHUB HAD OVER 50,000 USERS OF THE SITE IN 2018.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt040635
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt114731
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt278774
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt067619
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt16000
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt2130
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0798420
IRS990/PYExcessBenefitTransInd00
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IRS990/PYOtherExpensesAmt0931030
IRS990/PYOtherRevenueAmt0208505
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IRS990/PYRevenuesLessExpensesAmt0-53332
IRS990/PYSalariesCompEmpBnftPaidAmt0877605
IRS990/PYTotalExpensesAmt01822658
IRS990/PYTotalProfFndrsngExpnsAmt012000
IRS990/PYTotalRevenueAmt01769326
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-286125
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt019343
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IRS990ScheduleA/PublicSupportCY509Pct00.66240
IRS990ScheduleA/PublicSupportPY509Pct00.61410
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0105111
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RENT RECEIVABLE
IRS990ScheduleD/RevenueNotReportedAmt039870
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE FOUNDATION HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AS A TAX POSITION; HOWEVER, THE FOUNDATION HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE FOUNDATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE FOUNDATION'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0191348
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0105111
IRS990ScheduleD/TotalExpensesPerForm990Amt02049449
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02089319
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt03
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0PSA VIDEOS
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt030053

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$979,709
Liabilities
$696,921
Net assets
$282,788
Revenue
$1,763,324
Expenses
$2,049,449
Net income
-$286,125
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.49$0.71$0.23$1.72$2.25$0.53
2021Detailed filing. Detailed filing data is available for this year.$0.97$0.71$0.25$2.07$2.29$0.22
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.91$0.48$4.06$4.14$0.08
2019Summary only. Only limited summary data is available for this year.$1.27$0.70$0.56$4.79$4.52$0.28
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.70$0.28$1.76$2.05$0.29
2017Detailed filing. Detailed filing data is available for this year.$1.34$0.77$0.57$1.77$1.82$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.07$0.45$0.62$1.81$1.50$0.31
2015Detailed filing. Detailed filing data is available for this year.$1.27$0.96$0.31$1.38$1.40$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.89$0.54$0.35$1.70$1.03$0.66
2013Detailed filing. Detailed filing data is available for this year.$0.11$0.21$0.10$0.31$0.41$0.11
2012Summary only. Only limited summary data is available for this year.$0.12$0.09$0.08$0.05$0.03