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Nonprofiteer
← SOUTHERN WINDSOR COUNTY INCUBATOR INC

Form 990 for tax year 2023

Filed by SOUTHERN WINDSOR COUNTY INCUBATOR INC.

Totals

Total revenue
$824,335
Total expenses
$636,744
Contributions and grants received
$808,587
Grants paid
$83,303
Program service revenue
$15,677
Investment income
$71
Other revenue
$0
Total assets, end of year
$331,699
Total liabilities, end of year
$37,754
Net assets or fund balances, end of year
$293,945
Program services expenses (Part IX)
$248,771
Management and general expenses
$387,973
Fundraising expenses
$0
Program service expenses (Part III)
$248,771

Program services were 39.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $715,037

  • 1f · All other contributions, gifts and grants

    $93,550

  • 2a · Program service revenue: WORKSPACE FEES

    total $14,277 · related or exempt $14,277

  • 2b · Program service revenue: OTHER

    total $1,400 · related or exempt $1,400

  • 3 · Investment income

    total $71 · excluded $71

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $83,303 · program services $83,303

  • 5 · Compensation of officers, directors and key employees

    total $122,981 · management and general $122,981

  • 7 · Other salaries and wages

    total $174,582 · management and general $174,582

  • 8 · Pension plan contributions

    total $13,869 · management and general $13,869

  • 9 · Other employee benefits

    total $2,712 · management and general $2,712

  • 10 · Payroll taxes

    total $23,173 · management and general $23,173

  • 11b · Fees: legal

    total $3,070 · program services $3,070

  • 11c · Fees: accounting

    total $30,499 · program services $30,499

  • 11g · Fees: other

    total $16,502 · program services $16,502

  • 12 · Advertising and promotion

    total $6,027 · program services $6,027

  • 13 · Office expenses

    total $240 · program services $240

  • 14 · Information technology

    total $4,998 · program services $4,998

  • 16 · Occupancy

    total $44,371 · management and general $44,371

  • 17 · Travel

    total $27,446 · program services $27,446

  • 22 · Depreciation, depletion and amortization

    total $9,441 · program services $9,303 · management and general $138

  • 23 · Insurance

    total $3,389 · program services $3,389

  • 24a · Other expenses: SUPPLIES

    total $40,719 · program services $35,427 · management and general $5,292

  • 24b · Other expenses: CUSTODIAL

    total $10,615 · program services $10,615

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $10,082 · program services $10,082

  • 24d · Other expenses: PROGRAM EXPENSES

    total $6,017 · program services $6,017

  • 24e · All other expenses

    total $2,708 · program services $1,853 · management and general $855

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $119,544 · end of year $288,383

  • 10a · Land, buildings and equipment: cost or other basis

    $59,687

  • 10b · Land, buildings and equipment: accumulated depreciation

    $17,247

  • 10c · Land, buildings and equipment, net

    beginning of year $14,589 · end of year $42,440

  • 15 · Other assets

    beginning of year $2,622 · end of year $876

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,401 · end of year $12,754

  • 24 · Unsecured notes and loans payable

    beginning of year $25,000 · end of year $25,000

  • 27 · Net assets without donor restrictions

    beginning of year $106,354 · end of year $293,945

Mission and programs · 2023

Mission

SOUTHERN WINDSOR COUNTY INCUBATOR DBA BLACK RIVER INNOVATION CAMPUS ACTIVATES THRIVING COMMUNITIES THROUGH STEAM EDUCATION, STARTUP INCUBATION AND ACCELERATION, AND COLLABORATIVE INITIATIVES

  • ACTUATOR ENTREPRENEURSHIP PROGRAM - IN 2023, WE REDEVELOPED OUR ACTUATOR ENTREPRENEURSHIP PROGRAM TO FUNCTION IN A HYBRID ENVIRONMENT. ONE COHORT OF 7 COMPANIES WAS HOSTED FROM SEPTEMBER TO DECEMBER. OF THESE COMPANIES, THREE CONTINUE TO DEVELOP THEIR COMPANIES WITHIN RURAL VERMONT AND ARE EXPECTED TO LAUNCH NEW PRODUCTS IN 2025.

    Expenses $66,876 · Revenue $15,677

  • STEAM EDUCATION PROGRAMS - IN 2023, BRIC PREPARED TO HIRE ITS FIRST FULL TIME DIRECTOR OF STEAM PROGRAMS. THIS POSITION IS DESIGNED TO BUILD ON 2020-2023 IN-SCHOOL AND SUMMER CAMP COMPUTER SCIENCE PROGRAMS AND WILL ASSIST IN CURRICULA DEVELOPMENT, AFTERSCHOOL AND SUMMER CAMPS, AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES. SPRINGFIELD WAS SELECTED TO BE IN THE SECOND COMPUTER SCIENCE FOR ALL (CSFORALL) COHORT ALONGSIDE MAJOR CITIES THROUGHOUT THE UNITED STATES. THE INTENT OF THE CSFORALL PROGRAM IS TO DEVELOP A COHORT OF TOWN COMPUTER SCIENCE STAKEHOLDERS TO BUILD PROGRAMS WITHIN AREA SCHOOLS AND AMONG COMMUNITY STAKEHOLDERS. BRIC ACTS AS THE FISCAL SPONSOR FOR THIS COALITION.

    Expenses $44,882

  • TECH-BASED ECONOMIC DEVELOPMENT - IN 2023, BRIC SUBMITTED A DEPARTMENT OF LABOR WORKING OPPORTUNITIES FOR RURAL COMMUNITIES GRANT AND BEGAN TO STRENGTHEN ITS WORKFORCE DEVELOPMENT PROGRAM OFFERINGS. TOGETHER WITH AREA WORKFORCE PARTNERS, BRIC BEGAN TO IDENTIFY EXISTING AND EMERGING TECHNOLOGY WORKFORCE AND OCCUPATION OPPORTUNITIES. THE ORGANIZATION WILL CONTINUE TO WORK WITH THESE PARTNERS IN 2024 TO BUILD PATHWAYS TO EMERGING HIGH WAGE JOBS IN THE REGION.

    Expenses $137,013 · Grants $83,303

As filed on the 2023 return.

Listed in Part VII

  • Peter Andrews

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Bob Flint

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Matt Dunne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Heather Frahm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Patrick Bradley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Sam Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Curran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Lorie Loeb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Josh Dufresne

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lyza Danger Gardner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Colin Polidor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Vin Fusca

    EXECUTIVE DIRECTOR

    Total calculated
    $64,839
    From this org
    $61,046
    From related orgs
    $0
    Other
    $3,793
    Hours/week
    40

  • Marguerite Dibble

    EXECUTIVE DIRECTOR

    Total calculated
    $61,935
    From this org
    $61,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403199349305645

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