Cure Innovations Llc

Nonprofit profile at a glance

EIN
463840398
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Groton, CT, USA
Phone
2034702720
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Reported finances

Revenue
$226,991
Expenses
$321,479
Assets
$4,400,629
Liabilities
$1,208,790

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JODIE GILLON (PRESIDENT &)

Highest reported compensation

  • JODIE GILLON (PRESIDENT &): $302,557 total reported compensation
  • KIMBERLY NASH (OPERATING DI): $108,176 total reported compensation
  • STANLEY CHOY (CO CHAIR & T): $38,747 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 organization was formed to manage cure innovation commons, an incubator for bioscience and other technologies.

What it reported doing in 2024

Cure innovations promotes economic development in an economically-depressed area in the state of Connecticut through incubator support of fledging bioscience and technology companies and also engages in stem (science, technology, engineering and math) and other educational activities related to bioscience, biopharmaceuticals, healthcare it, and medical devices research.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 78
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.5%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -41.6%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 13.69; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: -6.6% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -1.1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.5% of spending went to programs
  • Governance: 13 of 14 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $301K in reported program spending
  • Leadership: top reported pay $303K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.