The Hudson Valley Center for Innovation Inc

Nonprofit profile at a glance

EIN
203579392
IRS 990-EZ coverage
2010–2023
Forms available
Form 990 2022, Form 990-EZ 2023, Form 990-N 2011
Location
White Plains, NY, USA
Phone
9179692502
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$53,910
Expenses
$189,758
Assets
$28,390
Liabilities
$208,852

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

HVCI empowers business growth through planning, advisement and education. HVCI delivers its content through a collective of successful entrepreneurs serving other entrepreneurs at varying stages in their development. The organization employs programs, experiential learning, and a growth mindset to support companies in connecting to their marketplace and increasing revenues

What it reported doing in 2023

Westchester County Launch1000 - This program is designed to help residents evaluate an idea for a new venture, test it with potential customers, and see if it seems likely to succeed. Over 365 Westchester residents have completed this free entrepreneurial training program and most have launched their ventures, including for profit businesses, social enterprises and non-profit organizations.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 82
  • Sustainability: 7
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 64.6%; rating input score 65

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -252%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 7.36; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 17.6%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 64.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $123K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.