Massachusetts · Nonprofit
North Shore InnoVentures Inc
North Shore InnoVentures Inc (Massachusetts) receives grants from 6 organizations whose IRS filings report $216,631 to it, the largest being CUMMINGS FOUNDATION GRANTS INC (FKA ONEWORLD BOSTON INC) ($104,000). 3 of them have funded it in more than one year.
- Revenue FY2025
- $1.0M
- Funders on record
- 6
- Grants received
- $217k
- Net assets
- $2.8M
What North Shore InnoVentures Inc does
Mission
Operate a non-profit business incubator designed to foster innovation in the life sciences and clean tech and thus support economic development.
As stated on its FY2025 Form 990.
Programs
By the end of 2025, there were 15 Biotech member companies and 24 graduates. Approximately 90 people were employed by the member companies and 620 by the graduates for a total of 706 jobs created. The biotech companies in the incubator also trained 5 interns in the past year. Reduced operations and space reductions by member companies due to COVID along with the costs related to the buildout in FY 2017 such as increased rent, utilities, insurance, depreciation and debt service caused expenses to grow along with revenues resulting in a continued operating loss. Cash flow is more favorable as depreciation represents a large part of the operating loss. An increase in lab space completed in 3Q 2021 has resulted in increased memberships which are expected to offset the increased expenses going forward. No grants were provided by NSIV.
$1,371,030 spent$792,626 earned by the program80% of program spendingThe Cleantech Incubation Program supported 6 companies during the fiscal year. There were a total of fourteen graduates by year end. At the close of 2025, the cleantech companies in the incubator employed 30 people and the cleantech graduates employed 273 people for a total of 297 jobs created. The cleantech companies in the incubator trained five interns. Two of the cleantech companies in the program used office and lab space in the incubator routinely; the two others are in the virtual incubation program and utilize our sponsored services and mentoring sessions. Corporate sponsors and a grant from the Mass Clean Energy Center were especially important to helping keep revenues in balance with expenses. The increased lab space completed in Q3 2021 has resulted in increased memberships and space utilization. No grants were provided by NSIV.
$352,982 spent$189,150 earned by the program20% of program spending
The 2 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $1,724,012.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2023 to 2024, from $3.2M to $7.4M (+135%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 46% · 2018 7% · 2019 13% · 2020 23% · 2021 70% · 2022 12% · 2023 44% · 2024 58% · 2025 1%. Grants only. Government contracts and fees sit inside program revenue.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 5 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Chris Ilsley
President & CEO
Board chair
Harry McCoy
Chairman
As listed on its FY2025 Form 990.
The chief executive listed changed between the FY2017 and FY2018 filings.
Who funds it, year by year
2017 → 2023: the base held at 2 funders, grant income fell $12k → $4k.
2 of 6 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 3% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of North Shore InnoVentures Inc’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
North Shore InnoVentures Inc leans on a few funders — its largest provides 48% of grant income and the top three 97%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
Largest funder’s share by year: 2017 57% · 2019 100% · 2020 67% · 2021 66% · 2022 100% · 2023 99% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
98% of North Shore InnoVentures Inc's grant income comes from Massachusetts funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $7k arriving through sponsors registered in 2 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Organizations like North Shore InnoVentures Inc
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
95% of spending goes to programs.
Governance
Public support
100%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for North Shore InnoVentures Inc: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds North Shore InnoVentures Inc?
- North Shore InnoVentures Inc (Massachusetts) receives grants from 6 organizations whose IRS filings report $216,631 to it, the largest being CUMMINGS FOUNDATION GRANTS INC (FKA ONEWORLD BOSTON INC) ($104,000). 3 of them have funded it in more than one year.
- How many funders does North Shore InnoVentures Inc have?
- IRS filings report 6 organizations giving $216,631 in grants to North Shore InnoVentures Inc, 3 of which have funded it in more than one year.
- Who is the largest funder of North Shore InnoVentures Inc?
- CUMMINGS FOUNDATION GRANTS INC (FKA ONEWORLD BOSTON INC) is the largest funder on record, with $104,000 in grants. The full list of funders is on this page.
- How can an organization like North Shore InnoVentures Inc find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds North Shore InnoVentures →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 6 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing