INNOVATION STUDIO INC

As filed

Subsection

03

Street

2300 WASHINGTON STREET 2ND FLOOR

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2022

• DISTRICT HALL BOSTON & BOSTON SEAPORT PARTNERSHIPS: DISTRICT HALL IS THE RESULT OF A COLLABORATIVE PUBLIC (CITY OF BOSTON), PRIVATE PARTNERSHIP THAT OPENED IN THE FALL OF 2013. DISTRICT HALL IS A DEDICATED CIVIC SPACE WITH THE GOAL CREATING AN ENVIRONMENT THAT FOSTERS INNOVATION, COLLABORATION, AND ENTREPRENEURSHIP. DISTRICT HALL HAS OPEN WORKSPACE, CLASSROOMS, ASSEMBLY SPACE, FLEXIBLE USE 'POD', AND WRITABLE SURFACES EVERYWHERE. THE ORGANIZATION WORKS WITH MUNICIPALITIES, NON-PROFIT GROUPS, COLLEGE AND UNIVERSITIES, INDUSTRY ASSOCIATIONS, LOCAL NEIGHBORHOOD GROUPS, AND COMPANIES TO MAKE INFORMATIONAL RESOURCES AVAILABLE AND PRESENTS EDUCATIONAL PROGRAMS AND ACTIVITIES THAT ENCOURAGE INNOVATORS TO CONNECT, COLLABORATE AND START A NEW BUSINESS. THESE TYPES OF PROGRAMS THAT HAVE ALREADY BEEN RUN AT DISTRICT HALL INCLUDE HACKATHONS, PITCH COMPETITIONS, PANEL DISCUSSIONS, FIRESIDE CHATS, INTERVIEWS, DEMONSTRATIONS, CONFERENCES, COMPANY MEETINGS, BRAINSTORMING AND COMMUNITY GATHERINGS. AS A RESULT OF THE ORGANIZATION'S SUCCESS WITH DISTRICT HALL, OTHER BOSTON SEAPORT INNOVATION AND WORK SPACES HAVE SOUGHT OUT INNOVATION STUDIO FORMING PARTNERSHIPS TO ACTIVATE THEIR EXISTING INNOVATION SPACES. INNOVATION STUDIO FORMED A PARTNERSHIP WITH WORCESTER POLYTECHNIC INSTITUTE, WHO HAS INNOVATION AND MEETING SPACE IN THE SEAPORT, HELPING TO INCREASE TRAFFIC TO THEIR LOCATION AND BRING AWARENESS TO THEIR PRESENCE IN THE CITY. A PARTNERSHIP WITH ECHELON SEAPORT ALLOWED INNOVATION STUDIO TO DEMONSTRATE HOW TO SUCCESSFULLY RUN THEIR ON-SITE INNOVATION CENTER THAT IS AVAILABLE TO THEIR RESIDENTS AND LOCAL AREA BUSINESSES AND INDIVIDUALS.

  Expenses $770,769 · Revenue $877,568

• 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 $365,728

• 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 $64,792 · Revenue $7,318

• 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 $339,136

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2022

As listed in Part VII of the 2022 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us. Earlier years are each on their own filing page.

Filings

• 2022

  Revenue

  $1,723,186

  Expenses

  $2,252,650

  Contributions

  $420,389

  Grants paid

  $0

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $2,069,490

  Expenses

  $2,293,396

  Assets (EOY)

  $968,961

• 2020 · 990

  Revenue

  $4,064,836

  Expenses

  $4,144,891

  Assets (EOY)

  $1,389,900

• 2018 · 990

  Revenue

  $1,763,324

  Expenses

  $2,049,449

  Assets (EOY)

  $979,709

• 2017 · 990

  Revenue

  $1,769,326

  Expenses

  $1,822,658

  Assets (EOY)

  $1,338,829

• 2016 · 990

  Revenue

  $1,807,552

  Expenses

  $1,498,953

  Assets (EOY)

  $1,069,822

• 2015 · 990

  Revenue

  $1,378,825

  Expenses

  $1,403,543

  Assets (EOY)

  $1,274,796

• 2014 · 990

  Revenue

  $1,699,193

  Expenses

  $1,034,737

  Assets (EOY)

  $885,138

• 2013 · 990

  Revenue

  $306,083

  Expenses

  $412,133

  Assets (EOY)

  $114,703

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

• OLNEYVILLE HOUSING CORP

  $114,600

  2022 · PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY

• THE RHODE ISLAND COMMUNITY FOUNDATION

  $91,000

  2024 · ES - ECONOMIC SECURITY (PRIMARY)

• OLNEYVILLE HOUSING CORP

  $22,851

  2023 · PROMOTE EQUITY, PUBLIC HEALTH AND COMMUNITY SAFETY

• BOSTON FOUNDATION INC

  $20,000

  2023 · Economic Development

• BOSTON FOUNDATION INC

  $10,000

  2022 · Operating Support/Annual Fund

• FIDELITY INVESTMENTS CHARITABLE GIFT FUND

  $10,000

  2023 · For grant recipient's exempt purposes

• THE RHODE ISLAND COMMUNITY FOUNDATION

  $7,500

  2023 · ECONOMIC SECURITY

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