Civic Intelligence

Berkshire Innovation Center Inc.

990 • Fiscal year 2017 • EIN 47-1691933

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 06, 2017

Organization ProfileWWW.THE-BIC.ORG
66 Allen StreetPittsfield, MA 01201

(508) 366-4859

Siviq Scores

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

Liabilities / Assets

98th percentile

2.81x

Higher debt load relative to assets than 98% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

2.02x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

9th percentile

-44%

Higher net margin than 9% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

7th percentile

-56%

Faster asset growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

16th percentile

-32%

Faster revenue growth than 16% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$115,148

Down $146,954 (-56%) from 2016

Net Assets

Down

-$208,478

Down $70,580 (-51%) from 2016

Liabilities

Down

$323,626

Down $76,374 (-19%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin9th percentile

Revenue

Down

$160,333

Down $75,248 (-32%) from 2016

Expenses

Down

$230,913

Down $48,488 (-17%) from 2016

Net Income

Down

-$70,580

Down $26,760 (-61%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2015: $218,422Liabilities 2015: $0Net Assets 2015: $218,4222015Assets 2016: $262,102Liabilities 2016: $400,000Net Assets 2016: -$137,8982016Assets 2017: $115,148Liabilities 2017: $323,626Net Assets 2017: -$208,4782017Assets 2018: $392,462Liabilities 2018: $555,789Net Assets 2018: -$163,3272018Assets 2019: $9,997,843Liabilities 2019: $3,906,062Net Assets 2019: $6,091,7812019Assets 2020: $13,340,795Liabilities 2020: $1,490,240Net Assets 2020: $11,850,5552020Assets 2021: $12,909,447Liabilities 2021: $1,231,459Net Assets 2021: $11,677,9882021Assets 2022: $12,529,840Liabilities 2022: $1,070,204Net Assets 2022: $11,459,6362022Assets 2023: $12,612,867Liabilities 2023: $1,226,387Net Assets 2023: $11,386,4802023Assets 2024: $12,589,808Liabilities 2024: $1,452,318Net Assets 2024: $11,137,4902024

Highlighted filing

2017

Assets$115,148
Liabilities$323,626
Net Assets-$208,478
Open 2017 Filing

Operations Trend

Revenue Growth16th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $447,915Expenses 2015: $229,493Net Income 2015: $218,4222015Revenue 2016: $235,581Expenses 2016: $279,401Net Income 2016: -$43,8202016Revenue 2017: $160,333Expenses 2017: $230,913Net Income 2017: -$70,5802017Revenue 2018: $223,732Expenses 2018: $178,581Net Income 2018: $45,1512018Revenue 2019: $6,373,333Expenses 2019: $118,225Net Income 2019: $6,255,1082019Revenue 2020: $6,424,153Expenses 2020: $665,379Net Income 2020: $5,758,7742020Revenue 2021: $929,131Expenses 2021: $1,101,698Net Income 2021: -$172,5672021Revenue 2022: $968,470Expenses 2022: $1,186,822Net Income 2022: -$218,3522022Revenue 2023: $1,489,523Expenses 2023: $1,562,679Net Income 2023: -$73,1562023Revenue 2024: $1,868,352Expenses 2024: $2,117,342Net Income 2024: -$248,9902024

Highlighted filing

2017

Revenue$160,333
Expenses$230,913
Net Income-$70,580
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 6, 2017
Return Version
2016v3.0
Gross Receipts
$160,333
Mission and Program Overview

Mission

The corporation is organized to provide facilities and educational programs that enable and accelerate innovation and growth of existing businesses in the berkshire county, massachusetts area, particularly small to medium sized manufacturing companies, with the objective of spurring economic growth, developing a skilled workforce and increasing jobs and investment in the region through the development and operation of: (a) a state-of-the-art scientific, high technology research and business incubator facility (b) education programs to provide students and the local business community with the training, knowledge, experience and scientific skills necessary to succeed in an increasingly technology driven economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$260,958$99,432▼ $161,526
Land, Buildings, and Equipment, Net$1,144$686▼ $458
Total Assets$262,102$115,148▼ $146,954
Other Assets Total-$15,030-
Liabilities
Other Liabilities$400,000$315,030▼ $84,970
Accounts Payable and Accrued Expenses-$8,596-
Total Liabilities$400,000$323,626▼ $76,374
Net Assets / Fund Balance
Unrestricted Net Assets$-137,898$-208,478▼ $70,580
Total Net Assets Fund Balance$-137,898$-208,478▼ $70,580
Total Liabilities and Net Assets / Fund Balance$262,102$115,148▼ $146,954

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$686$1,322$2,008
Other Assets Org$15,030--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
B Stephen BoydChairman
Donald RocheloVice Chairma
David K AllenDirector
Douglas CraneDirector
James Castracane PhdDirector
James D CapistranDirector
James E Spencer JrDirector
James J BrosnanDirector
Monica JoslynDirector
Nick GrizeyDirector
Peter StasiowskiDirector
Philip DoreDirector
R James GalipeauDirector
Robert a MalloyDirector
Scott LundyDirector
Stephen ShepardDirector
Thomas DuntonDirector
Thomas SommerDirector
William MulhollandDirector
David ValicentiClerk
Bryon M Sherman CPATreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
New England Expansion StrategiesConsulting17 PICCADILLY WAY, Westborough, MA 01581$186,623
Revenue and Support

Revenue Composition

Contributions and Grants
$109,777
Program Service Revenue
$50,556
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,777
Change in Net Assets
$-70,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$187,084--$187,084
Fees for Services Legal-$1,692-$1,692
All Other Expenses$1,109$164-$1,273
Other Expenses$1,187--$1,187
Depreciation Depletion$229$229-$458
Travel$396--$396
Total Functional Expenses$228,828$2,085$0$230,913
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Forgivable Notes Payable$300,000
Berkshire Robotics - Fiduciary Accou$15,030
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The board of directors will review a copy of the form 990 at a regularly scheduled board meeting prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Available upon request and on the website of the office of the massachusetts attorney general”

Filing and Contact Details

Filer

Filer Name
Berkshire Innovation Center Inc
EIN
47-1691933
Phone
5083664859
Address
66 ALLEN STREET, PITTSFIELD, MA 01201

Signing Officer

Name
B Stephen Boyd
Title
Chairman
Phone
5083664859
Signed
2017-12-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
B Stephen Boyd
Formed
2014
Legal Domicile
Ma
Voting Board Members
22
Independent Board Members
22
Employees
0

Preparer

Firm
Smith Watson & Co Llp
Address
85 MAIN ST STE 111, NORTH ADAMS, MA 01247-3429
Preparer
Bryon M Sherman
Phone
4136644650
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is organized to provide facilities and educational programs that enable and accelerate innovation and growth of existing businesses in the berkshire county, massachusetts area, particularly small to medium sized manufacturing companies, with the objective of spurring economic growth, developing a skilled workforce and increasing jobs and investment in the region through the development and operation of: (a) a state-of-the-art scientific, high technology research and business incubator facility (b) education programs to provide students and the local business community with the training, knowledge, experience and scientific skills necessary to succeed in an increasingly technology driven economy.”

Form 990, Page 2, Part III, Line 4A

“Succeed in an increasingly technology driven economy.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FORGIVABLE NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1BERKSHIRE ROBOTICS - FIDUCIARY ACCOU
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED TO PROVIDE FACILITIES AND EDUCATIONAL PROGRAMS THAT ENABLE AND ACCELERATE INNOVATION AND GROWTH OF EXISTING BUSINESSES IN THE BERKSHIRE COUNTY, MASSACHUSETTS AREA, PARTICULARLY SMALL TO MEDIUM SIZED MANUFACTURING COMPANIES, WITH THE OBJECTIVE OF SPURRING ECONOMIC GROWTH, DEVELOPING A SKILLED WORKFORCE AND INCREASING JOBS AND INVESTMENT IN THE REGION THROUGH THE DEVELOPMENT AND OPERATION OF: (A) A STATE-OF-THE-ART SCIENTIFIC, HIGH TECHNOLOGY RESEARCH AND BUSINESS INCUBATOR FACILITY (B) EDUCATION PROGRAMS TO PROVIDE STUDENTS AND THE LOCAL BUSINESS COMMUNITY WITH THE TRAINING, KNOWLEDGE, EXPERIENCE AND SCIENTIFIC SKILLS NECESSARY TO SUCCEED IN AN INCREASINGLY TECHNOLOGY DRIVEN ECONOMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SUCCEED IN AN INCREASINGLY TECHNOLOGY DRIVEN ECONOMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS WILL REVIEW A COPY OF THE FORM 990 AT A REGULARLY SCHEDULED BOARD MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST AND ON THE WEBSITE OF THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt024 GLENDALE ROAD
IRS990/USAddress/CityNm0WEST STOCKBRIDGE
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IRS990/WebsiteAddressTxt0WWW.THE-BIC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0B STEPHEN BOYD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum05083664859
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-12-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BERKSHIRE INNOVATION CENTER INC
ReturnHeader/Filer/BusinessNameControlTxt0BERK
ReturnHeader/Filer/EIN0471691933

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$115,148
Liabilities
$323,626
Net assets
-$208,478
Revenue
$160,333
Expenses
$230,913
Net income
-$70,580
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.6$1.45$11.1$1.87$2.12$0.25
2023Detailed filing. Detailed filing data is available for this year.$12.6$1.23$11.4$1.49$1.56$0.07
2022Detailed filing. Detailed filing data is available for this year.$12.5$1.07$11.5$0.97$1.19$0.22
2021Detailed filing. Detailed filing data is available for this year.$12.9$1.23$11.7$0.93$1.10$0.17
2020Detailed filing. Detailed filing data is available for this year.$13.3$1.49$11.9$6.42$0.67$5.76
2019Detailed filing. Detailed filing data is available for this year.$10.00$3.91$6.09$6.37$0.12$6.26
2018Summary only. Only limited summary data is available for this year.$0.39$0.56$0.16$0.22$0.18$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.12$0.32$0.21$0.16$0.23$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.26$0.40$0.14$0.24$0.28$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.45$0.23$0.22