Berkshire Innovation Center Inc
Nonprofit profile at a glance
- EIN
- 471691933
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024, Form 990-T 2023
- Location
- Pittsfield, MA, USA
- Phone
- 4134491100
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Alliance/Advocacy Organizations
Reported finances
- Revenue
- $1,547,086
- Expenses
- $2,012,437
- Assets
- $11,749,190
- Liabilities
- $1,077,051
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- BEN SOSNE (EXECUTIVE DIRECTOR)
Highest reported compensation
- BEN SOSNE (EXECUTIVE DIRECTOR): $169,086 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The berkshire innovation center expands the innovation capacity and growth potential of businesses by providing advanced capabilities to manufacturers in the berkshires region - primarily small and medium sized companies (and startups) in life sciences, the life sciences supply chain, advanced manufacturing, and technology. The goal is to enable and accelerate the growth of the manufacturing sector with the ultimate objective of spurring economic growth, job creation.
What it reported doing in 2024
The corporation is organized to provide facilities and educational programs that enable and accelerate innovation and growth of existing business in the berkshire county, Massachusetts area, particularly small to medium sized manufacturing companies, with the object of spurring economic growth, developing a skilled workforce and increasing jobs and investment in the region through the development and operations of: 1.) a state-of-the-art scientific, high technology research and business incubator facility and 2.) education programs to provide students and local buiness community with the training, knowledge, experience and scientific skills necessary to succeed in an increasingly technology driven economy.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 79
- Accountability: 100
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 83.5%; rating input score 83
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -30.1%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 5.84; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
- Officer compensation ratio: 8.4%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 21.6% per year; rating input score 100; 84th percentile among comparable filings
- Revenue growth: 3.9% per year; rating input score 100; 37th percentile among comparable filings
- Asset growth: 17% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
- Governance: 18 of 18 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.7M in reported program spending
- Leadership: top reported pay $169K · 19 people listed · 3 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 6/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 44/100.