Organizations Filed Purposes:
Operate a non-profit business incubator designed to foster innovation in the life sciences and clean tech and thus support economic development.
Operate incubator designed to foster innovation in the life sciences and clean tech.
By the end of June 2020 there were 12 Biotech member companies and 16 graduates. Approximately 107 people were employed by the member companies and 159 by the graduates for a total of 266 jobs created. The biotech companies in the incubator also trained 4 interns in the past year. The costs related to the buildout in FY 2017 such as increased rent, utilities, insurance, depreciation and debt service caused expenses to grow somewhat more than revenues resulting in an operating loss. Cash flow is more favorable as depreciation represents essentially all of the operating loss. Increasing sponsorships and memberships are expected to offset the increased expenses going forward. No grants were provided by NSIV.
The Cleantech Incubation Program supported five companies during the fiscal year. There were a total of twelve graduates by year end. At the close of FY 2020, the cleantech companies in the incubator employed 49 people and the ten cleantech graduates employed 163 people for a total of 212 jobs created. The cleantech companies in the incubator trained 3 interns. Three of the cleantech companies in the program used office and lab space in the incubator routinely; the others are in the virtual incubation program and utilize our sponsored services and mentoring sessions. Corporate sponsors and a grant from the Mass Clean Energy Center were especially important to helping keep revenues in balance with expenses. No grants were provided by NSIV.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Chris Ilsley | President & CEO | 40 | $107,064 |
| Thomas Kinneman | Vice President & COO | 40 | $99,365 |
| Jack Swig | Clerk | 2 | $750 |
| Chad Robinson | Treasurer | 2 | $0 |
| Kathleen Barnes Phd | Past Director | 1 | $0 |
| David Baer | Past Director | 1 | $0 |
| Jean-Jacques Yarmoff | Director | 1 | $0 |
| Thomas Forest Farb | Director | 1 | $0 |
| Martha C Farmer | Director | 1 | $0 |
| Mary Grant | Director | 1 | $0 |
| David E Reibel | Director | 1 | $0 |
| Harry G Mccoy | Chairman | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202121379349307052_public.xml