Inversant Inc
- Assets
- $1.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Boston, MA
- Founding
- 03/2010
- Data as of
- 12/2021
- EIN
- 27-1462229
Organization Overview
Inversant Inc is located in Boston, MA. The organization was established in 2010. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 12/2021, Inversant Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inversant Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Inversant Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Inversant Inc has awarded 39 individual grants totaling $794,556. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INVERSANT'S MISSION IS TO ENSURE THAT THROUGH PARENTAL ENGAGEMENT EVERY LOW-TO-MODERATE INCOME FAMILY HAS THE RESOURCES AND UNDERSTANDING THEY NEED TO ACHIEVE THEIR GOALS FOR HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, INVERSANT INCREASED THE TOTAL NUMBER OF FAMILIES SERVED FROM 2,000 TO 2,115, CELEBRATING 115 ACCOMPLISHED 2021 HIGH SCHOOL GRADUATES 115 FAMILIES RECEIVED $73,900 IN SAVINGS MATCH DISTRIBUTIONS AND SCHOLARSHIPS. OVER THE COURSE OF 2021, INVERSANT ENGAGED 9,257 PEOPLE, EXCEEDING OUR ANTICIPATED TARGET. WE ACCOMPLISHED THIS BY SUCCESSFULLY BUILDING A NEW DIGITAL INFRASTRUCTURE TO BRING COMPREHENSIVE FINANCIAL AID AND COLLEGE ACCESS EDUCATION TO FAMILIES VIRTUALLY. BY SEGMENTING PROGRAMMING INTO FOCUSED LEARNING OPPORTUNITIES INDIVIDUALS WERE ABLE TO FOCUS ON THE TOPICS THAT CONCERN THEM MOST AND ACCESS MATERIAL AT THEIR OWN PACE. 75 STUDENTS APPLIED FOR SCHOLARSHIPS AND 30 STUDENTS WERE ELIGIBLE AND WERE AWARDED A TOTAL OF $35,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Hancock CEO | Officer | 40 | $150,673 |
Sally Currier Secretary | OfficerTrustee | 2 | $0 |
Benjamin Hildreth Treasurer | OfficerTrustee | 2 | $0 |
Charles Desmond Chair | Officer | 2 | $0 |
Robert J Hildreth Director | Trustee | 2 | $0 |
Robert Cashman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $260,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $625,145 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $885,465 |
| Total Program Service Revenue | $0 |
| Investment income | $65 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,077,205 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,065 |
| Grants and other assistance to domestic individuals. | $37,778 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $166,980 |
| Compensation of current officers, directors, key employees. | $55,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $501,391 |
| Pension plan accruals and contributions | $8,575 |
| Other employee benefits | $32,932 |
| Payroll taxes | $53,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $122,382 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $52,198 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $481,969 |
| Advertising and promotion | $10,056 |
| Office expenses | $30,067 |
| Information technology | $40,658 |
| Royalties | $0 |
| Occupancy | $86,576 |
| Travel | $366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,342 |
| Interest | $8,076 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,887 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,712,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,602 |
| Savings and temporary cash investments | $8,639 |
| Pledges and grants receivable | $630,756 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,482 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,055 |
| Total assets | $1,260,534 |
| Accounts payable and accrued expenses | $146,344 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $499,900 |
| Other liabilities | $0 |
| Total liabilities | $646,244 |
| Net assets without donor restrictions | -$2,253 |
| Net assets with donor restrictions | $616,543 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,260,534 |
Grants Awarded
Over the last fiscal year, Inversant Inc has awarded $414,384 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: TO FUND PARTNER PROGRAM | $50,646 |
Boston, MA PURPOSE: TO FUND PARTNER PROGRAM | $50,646 |
Boston, MA PURPOSE: TO FUND PARTNER PROGRAM | $50,646 |
Boston, MA PURPOSE: TO FUND PARTNER PROGRAM | $50,646 |
SALEM PUBLIC SCHOOLS PURPOSE: TO FUND PARTNER PROGRAM | $36,405 |
SALEM PUBLIC SCHOOLS PURPOSE: TO FUND PARTNER PROGRAM | $36,405 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Inversant Inc has recieved totaling $392,500.
| Awarding Organization | Amount |
|---|---|
Hildreth Stewart Charitable Foundation Boston, MA PURPOSE: GENERAL USE | $250,000 |
Mabel Louise Riley Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING | $50,000 |
Oneworld Boston Inc Woburn, MA PURPOSE: COMMUNITY ENRICHMENT PROGRAMS | $46,000 |
Amelia Peabody Foundation Wellesley, MA PURPOSE: INVERSANT: BREAKING BARRIERS TO COLLEGE ACCESS | $20,000 |
Metro Credit Union Chelsea, MA PURPOSE: DONATION | $15,000 |
Marion L Decrow Foundation Boston, MA PURPOSE: GENERAL | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Good Sports Inc Braintree, MA | $15,718,989 | $17,640,081 |
Vermont Permanency Initiative Inc Plymouth, NH | $11,154,700 | $16,308,251 |
Exploration School Inc Norwood, MA | $30,976,539 | $12,294,773 |
West Side Center For Community Life Inc New York, NY | $9,114,399 | $14,422,692 |
Camp Harbor View Foundation Inc Boston, MA | $69,208,202 | $14,199,041 |
Utec Inc Lowell, MA | $20,133,809 | $14,604,530 |
Shira Association Inc Brooklyn, NY | $274,073 | $8,368,956 |
Chdfs Inc New York, NY | $4,427,558 | $6,216,072 |
Metropolitan Development Center Inc Brooklyn, NY | $2,978,131 | $7,487,789 |
Childrens Workshop Foundation Central Falls, RI | $4,705,230 | $8,734,108 |
Exalt Youth New York, NY | $8,260,540 | $8,836,761 |
Nyc Kids Rise Inc Long Island City, NY | $4,984,268 | $4,157,127 |