Civic Intelligence

Berkshire Innovation Center Inc.

990 • Fiscal year 2022 • EIN 47-1691933

Jul 01, 2021 to Jun 30, 2022 • Filed on May 04, 2023

Organization ProfileWWW.BERKSHIREINNOVATIONCENTER.COM
45 Woodlawn AvenuePittsfield, MA 01201

(413) 449-1100

Siviq Scores

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

Liabilities / Assets

37th percentile

0.09x

Higher debt load relative to assets than 37% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

81st percentile

1.11x

Higher debt load relative to revenue than 81% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

10th percentile

-23%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$141,195

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

38th percentile

-2.9%

Faster asset growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

50th percentile

4.2%

Faster revenue growth than 50% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$12,529,840

Down $379,607 (-2.9%) from 2021

Net Assets

Down

$11,459,636

Down $218,352 (-1.9%) from 2021

Liabilities

Down

$1,070,204

Down $161,255 (-13%) from 2021

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin10th percentile

Revenue

Up

$968,470

Up $39,339 (+4.2%) from 2021

Expenses

Up

$1,186,822

Up $85,124 (+7.7%) from 2021

Net Income

Down

-$218,352

Down $45,785 (-27%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2022

Assets$12,529,840
Liabilities$1,070,204
Net Assets$11,459,636
Open 2022 Filing

Operations Trend

Revenue Growth50th 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

2022

Revenue$968,470
Expenses$1,186,822
Net Income-$218,352
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 4, 2023
Return Version
2021v4.2
Gross Receipts
$968,470
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.

The purpose of the organization is to provide facilities and educational programs that enable and accelerate innovation and growth of existing and startup 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 investments in the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,660,917$12,241,597▼ $419,320
Cash and Non-Interest-Bearing Accounts$206,678$201,101▼ $5,577
Accounts Receivable$23,578$61,470▲ $37,892
Total Assets$12,909,447$12,529,840▼ $379,607
Other Assets Total$18,274$25,672▲ $7,398
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,160,000$1,040,000▼ $120,000
Deferred Revenue$53,185--
Other Liabilities$18,274$25,672▲ $7,398
Accounts Payable and Accrued Expenses-$4,532-
Total Liabilities$1,231,459$1,070,204▼ $161,255
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,677,988$11,459,636▼ $218,352
Total Net Assets Fund Balance$11,677,988$11,459,636▼ $218,352
Total Liabilities and Net Assets / Fund Balance$12,909,447$12,529,840▼ $379,607

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,710,728$725,443$12,436,171
Equipment$530,869$222,083$752,952
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ben SosneExecutive DirectorFT$133,219$7,976$141,195

Board Members and Trustees

NameTitle
B Stephen BoydPresident
Peter StasiowskiVice President
Adrian DionDirector
Alan LebihanDirector
Asish GhoshDirector
Brian JohnsonDirector
David K AllenDirector
Douglas CraneDirector
Ellen KennedyDirector
Giovanna FessendenDirector
James J BrosnanDirector
James KupernikDirector
Jamie BirgeDirector
Julie DiopDirector
Justin MckennonDirector
Peter ReinhartDirector
Philip DoreDirector
Scott LundyDirector
Stephen SheppardDirector
Thomas AdjeiDirector
David ValicentiClerk
Bryon M ShermanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$649,977
Program Service Revenue
$187,759
Investment Income
$0
Other Revenue
$130,734
All Other Contributions
$226,950
Change in Net Assets
$-218,352

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$173,185Fair Market Value (FMV)
Total Noncash Contributions3$173,185-

Audited Revenue Reconciliation

Revenue per Audited Statements
$968,470
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$968,470
Total Revenue per Form 990
$968,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$794,335
Salaries, Compensation, and Employee Benefits$392,487
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$335,456$83,864-$419,320
Other Salaries and Wages$173,919$43,479-$217,398
Current Officers, Directors, Trustees, and Key Employees$114,427$28,607-$143,034
Occupancy$71,341$16,390-$87,731
Office Expenses$55,506$14,291-$69,797
Payroll Taxes$25,644$6,411-$32,055
Insurance$20,122$5,030-$25,152
Fees for Services Accounting-$23,714-$23,714
Advertising$13,162$693-$13,855
All Other Expenses$13,419--$13,419
Fees for Services Other$7,150--$7,150
Fees for Services Legal$1,946--$1,946
Other Expenses$1,598$13,986-$1,598
Travel$381--$381
Total Functional Expenses$950,357$236,465$0$1,186,822

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,186,822
Total Expenses per Audited Statements$1,186,822
Total Expenses per Form 990$1,186,822
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fiduciary Funds Payable$25,672
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 35% controlled entity
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
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

“Form 990 is reviewed by the board of directors and approved before filing the form.”

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

“Board members are required to sign the conflict of interest policy annually and disclose any financial interest or relationship with the organization. The board reviews any potential conflicts as well as compliance with the policy.”

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

“Compensation for executive director is set and reviewed by the executive committee and board of directors, comparable salaries are considered and minutes are maintained.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request. The organization's governing documents are also available 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
4134491100
Address
45 WOODLAWN AVENUE, PITTSFIELD, MA 01201

Signing Officer

Name
B Stephen Boyd
Title
President
Phone
4134491100
Signed
2023-05-04
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
7
Volunteers
22

Preparer

Firm
Adelson & Company Pc
Address
100 NORTH STREET, PITTSFIELD, MA 01201
Preparer
David M Irwin CPA
Phone
4134436408
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Management has evaluated significant tax positions against the criteria established by professional standards and believes there are no such tax positions requiring accounting recognition.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt22133219
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02014
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
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IRS990/GoverningBodyVotingMembersCnt022
IRS990/GovernmentGrantsAmt0423027
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0968470
IRS990/GrossRentsGrp/RealAmt0105106
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt022
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt05030
IRS990/InsuranceGrp/ProgramServicesAmt020122
IRS990/InsuranceGrp/TotalAmt025152
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0947526
IRS990/LandBldgEquipBasisNetGrp/BOYAmt012660917
IRS990/LandBldgEquipBasisNetGrp/EOYAmt012241597
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE BERKSHIRE INNOVATION CENTER EXPANDS THE INNOVATION CAPACITY AND GROWTH POTENTIAL OF BUSINESSES BY PROVIDING ADVANCED CAPABILITIES TO MANUFACTURERS IN THE BERKSHIRES REGION - PRIMARILY SMALL AND MEDIUM SIZED COMPANIES (AND STARTUPS) IN LIFE SCIENCES, THE LIFE SCIENCES SUPPLY CHAIN, ADVANCED MANUFACTURING, AND TECHNOLOGY. THE GOAL IS TO ENABLE AND ACCELERATE THE GROWTH OF THE MANUFACTURING SECTOR WITH THE ULTIMATE OBJECTIVE OF SPURRING ECONOMIC GROWTH, JOB CREATION.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt011459636
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0105106
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0105106
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt011459636
IRS990/NoncashContributionsAmt0173185
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt016390
IRS990/OccupancyGrp/ProgramServicesAmt071341
IRS990/OccupancyGrp/TotalAmt087731
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt014291
IRS990/OfficeExpensesGrp/ProgramServicesAmt055506
IRS990/OfficeExpensesGrp/TotalAmt069797
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt018274
IRS990/OtherAssetsTotalGrp/EOYAmt025672
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0PROGRAM AND ADMINISTRAT
IRS990/OtherExpensesGrp/Desc1DIGITAL MEDIA STUDIOS P
IRS990/OtherExpensesGrp/Desc2SPEAKING PROGRAM COSTS
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt055144
IRS990/OtherExpensesGrp/ProgramServicesAmt141800
IRS990/OtherExpensesGrp/ProgramServicesAmt219342
IRS990/OtherExpensesGrp/ProgramServicesAmt31598
IRS990/OtherExpensesGrp/TotalAmt069130
IRS990/OtherExpensesGrp/TotalAmt141800
IRS990/OtherExpensesGrp/TotalAmt219342
IRS990/OtherExpensesGrp/TotalAmt31598
IRS990/OtherLiabilitiesGrp/BOYAmt018274
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt043479
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0173919
IRS990/OtherSalariesAndWagesGrp/TotalAmt0217398
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06411
IRS990/PayrollTaxesGrp/ProgramServicesAmt025644
IRS990/PayrollTaxesGrp/TotalAmt032055
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt142899
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IRS990/PYTotalRevenueAmt0929131
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-218352
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0105106
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0187759
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0649977
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0747633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt06365233
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt06373333
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0223697
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt014359873
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt082028
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt025628
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt010500
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt047660
IRS990ScheduleA/OtherIncome170Grp/TotalAmt083788
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99420
IRS990ScheduleA/PublicSupportPY170Pct00.99580
IRS990ScheduleA/PublicSupportTotal170Amt014359873
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0649977

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,529,840
Liabilities
$1,070,204
Net assets
$11,459,636
Revenue
$968,470
Expenses
$1,186,822
Net income
-$218,352
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