NonprofitsInnovation Studio Inc

Community Improvement & Capacity Building

Innovation Studio Inc

ROXBURY, MA

Total revenue

$1.7M

Total expenses

$2.3M

Net assets

Grants received

$855K

29 grants

EIN

455191933

Tax year

2022

Mission

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

Programs

3 programs

Biz bodega and rhode island programs: with the intention of increasing social and economic mobility for residents in providence, innovation studio partnered with one neighborhood builders to open and operate biz bodega, a comprehensive and vibrant business support office for new and growing small businesses located in central providence. Innovation studio provides live and virtual programs to create impactful and inclusive pathways to collaboration. This is achieved by cultivating relationships and providing resources for anyone to successfully launch and grow a business. Innovation studio is committed to equitable availability of resources to residents in providence and rhode island.

Expenses: $366K

Roxbury 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. These neighbors have a higher unemployment rate and a greater wealth income gap from the rest of the city of boston. Since opening in the fall of 2015, ric 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 the organization that "innovation is for everyone- and through programming at ric, the organization has continued this mission. Ric also provides a place for the local community to gather, obtain advice and connect with other resources from around greater boston and the world through pitch nights and other programming. The organization also produces programming to activate and connect the three physical spaces to the innovation community locally, nationally, and internationally.

Expenses: $65K

Massachusetts programs: innovation studio's pathways to entrepreneurship continuum of small business and startup programs provides an individualized approach to innovation. Through business accelerators, 1-2-1 advising services, and networking opportunities entrepreneurs and business owners gain access to the resources and skills they need to be successful.

Expenses: $339K

Financials

FY 2022

Revenue

Contributions & grants$420K
Program service revenue$915K
Investment income$12
Other revenue$388K
Total revenue$1.7M

Expenses

Grants paid
Salaries & benefits$1.4M
Fundraising
Other expenses$877K
Total expenses$2.3M
Total assets$488K
Net assets

People

15 listed

NameRoleCompensation

DANIEL VIDANA

PRESIDENT

Board

$132K

40 hrs/wk

KEVIN WIANT

PAST FINANCE

Board

1 hrs/wk

VINIT NIHJAWAN

VICE CHAIR

Board

1.5 hrs/wk

CHRISTOPHER MULLER

EXTERNAL AFF

Board

1.5 hrs/wk

DAMON COX

MEMBER

Board

1 hrs/wk

MELISSA JAMES

MEMBER (TERM

Board

1 hrs/wk

ZALIKA WINITZER

MEMBER (TERM

Board

1 hrs/wk

CARMEN DIAZ-JUSINO

BOARD CHAIR

Board

1.5 hrs/wk

CHRISTIAN PONCE

TREASURER

Board

1 hrs/wk

ROSANNA GARCIA

MEMBER

Board

1 hrs/wk

HOLLY JAMES

MEMBER

Board

1 hrs/wk

DAVID LUCIER

MEMBER

Board

1 hrs/wk

ANGEL SILVESTRINI

MEMBER

Board

1 hrs/wk

MITCH TYSON

IM. PAST BOA

Board

1 hrs/wk

ASHLEY MEDIROS

VP STRATEGY

Staff

$107K

40 hrs/wk

Grants received

Showing 29 of 29

FromAmountPurposeYear
$91K
ES - ECONOMIC SECURITY (PRIMARY)
2024
$3K
GENERAL OPERATING EXPENSES
2024
$25K
EXEMPT PURPOSE
2023
$25K
PROGRAM/OPERATING SUPPORT
2023
$23K
PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY
2023
$20K
Economic Development
2023
$10K
For grant recipient's exempt purposes
2023
$115K
PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY
2022
$25K
PROGRAM/OPERATING SUPPORT
2022
$10K
CREATE, BUSINESS MODEL DEVELOPMENT PROGRAM
2022
$10K
Operating Support/Annual Fund
2022
$50K
Operating Support/Annual Fund
2021
$17K
For grant recipient's exempt purposes
2021
$17K
For grant recipient's exempt purposes
2021
$50K
Operating Support/Annual Fund
2020
$10K
UNRESTRICTED
2020
$22K
COMPUTER EQUIPMENT AND SUPPLIES TO OPERATE TECHNOLOGY LAB
2019
$15K
PROGRAM ASSISTANCE.
2019
$40K
Economic Development
2017

Funded by

$855K from 15 funders · 29 grants · 2017–2024

Boston Foundation Inc

$170K · 5 grants · 2017–2023

Olneyville Housing Corporation

$137K · 2 grants · 2022–2023

The Rhode Island Community Foundation

$99K · 2 grants · 2023–2024

The Bank of America Charitable Foundation Inc

$75K · 3 grants · 2021–2023

Fidelity Investments Charitable Gift Fund

$44K · 3 grants · 2021–2023

Eastern Bank Foundation

$25K · 1 grant · 2023

Details

EIN455191933
NTEE codeS30
Subsection03
Ruling date2014-09
Formed2012
Employees21
Volunteers50
INNOVATION STUDIO INC — Mission, Financials & Grants Received | Grantivo