Civic Intelligence

Thames River Innovation Places Inc

EIN 83-0544046 • 501(c)3 • Groton, CT

Profile

Thames river innovation place builds prosperity in the thames river region through authentic innovation, collaboration and diverse partnerships. Our group is an unprecedented alliance of public, private, and nonprofit sectors in the communities of new london and groton in southeastern connecticut. Major institutions are collaborating to design a blueprint for the future of our communities that integrates existing plans an projects with new ideas that leverage and enhance all that is uniques about this place at the mouth of te thames river. Thames river innovation is supported by ctnext.

93 Shennecossett RdGroton, CT 06340-5115

www.thamesriverinnovation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.65x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.09x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

12th percentile

-61%

Higher net margin than 12% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

12th percentile

-82%

Faster asset growth than 12% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

18th percentile

-46%

Faster revenue growth than 18% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$22,949

Down $103,093 (-82%) from 2022

Liabilities

Up

$14,890

Up $9,305 (+167%) from 2022

Net Assets

Down

$8,059

Down $112,398 (-93%) from 2022

Revenue

Down

$162,102

Down $135,771 (-46%) from 2022

Expenses

Down

$261,321

Down $135,566 (-34%) from 2022

Net Income

Down

-$99,219

Down $205 (-0.2%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2019: $487,277Liabilities 2019: $303,838Net Assets 2019: $183,4392019Assets 2020: $469,468Liabilities 2020: $36,673Net Assets 2020: $432,7952020Assets 2021: $232,391Liabilities 2021: $12,920Net Assets 2021: $219,4712021Assets 2022: $126,042Liabilities 2022: $5,585Net Assets 2022: $120,4572022Assets 2023: $22,949Liabilities 2023: $14,890Net Assets 2023: $8,0592023

Highlighted filing

2023

Assets$22,949
Liabilities$14,890
Net Assets$8,059

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2019: $1,468,718Expenses 2019: $1,285,279Net Income 2019: $183,4392019Revenue 2020: $694,093Expenses 2020: $444,737Net Income 2020: $249,3562020Revenue 2021: $393,663Expenses 2021: $606,987Net Income 2021: -$213,3242021Revenue 2022: $297,873Expenses 2022: $396,887Net Income 2022: -$99,0142022Revenue 2023: $162,102Expenses 2023: $261,321Net Income 2023: -$99,2192023

Highlighted filing

2023

Revenue$162,102
Expenses$261,321
Net Income-$99,219

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$162,102
Mission and Program Overview

Mission

Thames river innovation place builds prosperity in the thames river region through authentic innovation, collaboration, and diverse partnerships. Our group is an unprecedented alliance of public, private, and nonprofit sectors in the communities of new london and groton in southeastern connecticut. Major institutions are collaborating to design a blueprint for the future of our communities that integrates existing plans and projects with new ideas that leverage and enhance all that is unique about this place at the mouth of the thames river. Thames river innovation is supported by ctnext.

Thames river innovation place builds prosperity in the thames river region through authentic innovation, collaboration and diverse partnerships. Our group is an unprecedented alliance of public, private, and nonprofit sectors in the communities of new london and groton in southeastern connecticut. Major institutions are collaborating to design a blueprint for the future of our communities that integrates existing plans an projects with new ideas that leverage and enhance all that is uniques about this place at the mouth of te thames river. Thames river innovation is supported by ctnext.

Program Services

DescriptionGrantsExpenses
NAVAL MARITIME CONSORTIUM NMC - TRIP'S FIRST PROGRAM TO "SPIN-OUT- AND BECOME ITS OWN ENTITY (501-C3). THE NMC IS AN ACTIVE NETWORK OF MEMBER COMPANIES, COMMUNITY PARTNERS, AND OEMS THAT COLLECTIVELY ADDRESSES CHALLENGES, SHARES SOLUTIONS, AND COLLABORATES TO DEVELOP OPPORTUNITIES WITHIN THE GROWING BLUE TECH INDUSTRIAL SECTOR. OUR PROGRAMS AND GOALS FOCUS ON NAVAL SUBMARINE SHIPBUILDING AND OFFSHORE WIND SUPPLY CHAINS WITHIN AND AROUND NEW ENGLAND.$173,864$173,864
ADMIN$51,002$51,002
WBDC BLUE-STREAM - THE BLUE STREAM PROGRAM HELPS TO SUPPORT ENTREPRENEURIAL AMBITIONS OF THOSE WHO RELOCATE AND FOR WHOM TRADITIONAL JOBS DO NOT PROVIDE AN EFFECTIVE PROFESSIONAL TRAJECTORY BY OFFERING GROUP TRAINING SESSIONS AND INDIVIDUALIZED COACHING LED BY WBDC BUSINESS ADVISORS, AS WELL AS MICROGRANT PROGRAMS TO INVEST IN BUSINESS CREATION AND CAPITAL NECESSITIES. CURRENT CLIENTS INCLUDE SPOUSES OF SERVICE MEMBERS AND EMPLOYEES OF THE DEPARTMENTS OF DEFENSE AND HOMELAND SECURITY, AND GENERAL DYNAMICS.AFTER A SUCCESSFUL SIX-MONTH PILOT PROGRAM, THE WBDC RECEIVED SECOND-PHASE FUNDING FROM TRIP TO CONTINUE ITS BLUE STREAM PROGRAM, A CUSTOMIZED TRAINING PROGRAM FOR MILITARY SPOUSES AND ENTREPRENEURS RELOCATING TO CONNECTICUT.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
KIMBERLY KELLYPresidentPT$22,000-$22,000
CIERRA PATRICKDirector-$0--
PAIGE BRONKSecretary-$0--
MARY ANNE ROOKETreasurer-$0--
SUSAN ADAMSDirector-$0--
MARIE CLAIRE PEAKMANVice Preside-$0--
MATTHEW GILLENDirector-$0--
ROBERT VOLDKMANN PHDDirector-$0--
Filing and Contact Details

Filer

Filer Name
Thames River Innovation Places Inc
EIN
83-0544046
Phone
8603835939
Address
93 SHENNECOSSETT RD, GROTON, CT 06340-5115

Signing Officer

Name
Kimberly Kelly
Title
President
Phone
8603835939
Signed
2024-05-14
Discuss with paid preparer
Yes

Preparer

Firm
Brodeur & Company Cpas Pc
Address
10 SPRINGBROOK RD, OLD SAYBROOK, CT 06475
Preparer
Michael J Michaud
Phone
8603884627
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10

Name: chamber of commerce eastern ct address: 914 hartford turnpike waterford, ct 06385 cash contribution: 72,764 name: naval maritime consortium address: 1084 shennecossett road groton, ct 06340 cash contribution: 101,100 name: women's business dev council address: 300 state street new london, ct 06320 cash contribution: 51,002

Form 990-ez, Part I, Line 16

Expenses admin allocation 181 bookkeeping 855 computer & internet 405 insurance 881 total 2,322

Form 990-ez, Part I, Line 20

Prior period adjustment -13,179

Form 990-ez, Part II, Line 24

Grants receivable 13,179 0 start up costs 1,538 1,538 less accumulated amortization 410 513 total 14,307 1,025

Form 990-ez, Part II, Line 26

Accrued accounting fees 5,585 14,890

Form 990-ez, Part III

Thames river innovation place builds prosperity in the thames river region through authentic innovation, collaboration and diverse partnerships. Our group is an unprecedented alliance of public, private, and nonprofit sectors in the communities of new london and groton in southeastern connecticut. Major institutions are collaborating to design a blueprint for the future of our communities that integrates existing plans an projects with new ideas that leverage and enhance all that is uniques about this place at the mouth of te thames river. Thames river innovation is supported by ctnext.

Form 990-ez, Part III, Line 28

Naval maritime consortium nmc - trip's first program to "spin-out- and become its own entity (501-c3). The nmc is an active network of member companies, community partners, and oems that collectively addresses challenges, shares solutions, and collaborates to develop opportunities within the growing blue tech industrial sector. Our programs and goals focus on naval submarine shipbuilding and offshore wind supply chains within and around new england.

Form 990-ez, Part III, Line 29

Wbdc blue-stream - the blue stream program helps to support entrepreneurial ambitions of those who relocate and for whom traditional jobs do not provide an effective professional trajectory by offering group training sessions and individualized coaching led by wbdc business advisors, as well as microgrant programs to invest in business creation and capital necessities. Current clients include spouses of service members and employees of the departments of defense and homeland security, and general dynamics.after a successful six-month pilot program, the wbdc received second-phase funding from trip to continue its blue stream program, a customized training program for military spouses and entrepreneurs relocating to connecticut.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACCRUED ACCOUNTING FEES 5,585 14,890
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THAMES RIVER INNOVATION PLACE BUILDS PROSPERITY IN THE THAMES RIVER REGION THROUGH AUTHENTIC INNOVATION, COLLABORATION AND DIVERSE PARTNERSHIPS. OUR GROUP IS AN UNPRECEDENTED ALLIANCE OF PUBLIC, PRIVATE, AND NONPROFIT SECTORS IN THE COMMUNITIES OF NEW LONDON AND GROTON IN SOUTHEASTERN CONNECTICUT. MAJOR INSTITUTIONS ARE COLLABORATING TO DESIGN A BLUEPRINT FOR THE FUTURE OF OUR COMMUNITIES THAT INTEGRATES EXISTING PLANS AN PROJECTS WITH NEW IDEAS THAT LEVERAGE AND ENHANCE ALL THAT IS UNIQUES ABOUT THIS PLACE AT THE MOUTH OF TE THAMES RIVER. THAMES RIVER INNOVATION IS SUPPORTED BY CTNEXT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NAVAL MARITIME CONSORTIUM NMC - TRIP'S FIRST PROGRAM TO "SPIN-OUT- AND BECOME ITS OWN ENTITY (501-C3). THE NMC IS AN ACTIVE NETWORK OF MEMBER COMPANIES, COMMUNITY PARTNERS, AND OEMS THAT COLLECTIVELY ADDRESSES CHALLENGES, SHARES SOLUTIONS, AND COLLABORATES TO DEVELOP OPPORTUNITIES WITHIN THE GROWING BLUE TECH INDUSTRIAL SECTOR. OUR PROGRAMS AND GOALS FOCUS ON NAVAL SUBMARINE SHIPBUILDING AND OFFSHORE WIND SUPPLY CHAINS WITHIN AND AROUND NEW ENGLAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7WBDC BLUE-STREAM - THE BLUE STREAM PROGRAM HELPS TO SUPPORT ENTREPRENEURIAL AMBITIONS OF THOSE WHO RELOCATE AND FOR WHOM TRADITIONAL JOBS DO NOT PROVIDE AN EFFECTIVE PROFESSIONAL TRAJECTORY BY OFFERING GROUP TRAINING SESSIONS AND INDIVIDUALIZED COACHING LED BY WBDC BUSINESS ADVISORS, AS WELL AS MICROGRANT PROGRAMS TO INVEST IN BUSINESS CREATION AND CAPITAL NECESSITIES. CURRENT CLIENTS INCLUDE SPOUSES OF SERVICE MEMBERS AND EMPLOYEES OF THE DEPARTMENTS OF DEFENSE AND HOMELAND SECURITY, AND GENERAL DYNAMICS.AFTER A SUCCESSFUL SIX-MONTH PILOT PROGRAM, THE WBDC RECEIVED SECOND-PHASE FUNDING FROM TRIP TO CONTINUE ITS BLUE STREAM PROGRAM, A CUSTOMIZED TRAINING PROGRAM FOR MILITARY SPOUSES AND ENTREPRENEURS RELOCATING TO CONNECTICUT.
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