Innovation Underwriters Corporation is located in Cambridge, MA. According to its NTEE Classification (W70) the organization is classified as: Leadership Development, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Underwriters Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER BREAKTHROUGH INNOVATIONS IN THE MANAGEMENT OF RISK. THIS NONPROFIT WILL NOT BE CONDUCTING OR ENGAGING OF SELLING OR OFFERING INSURANCE PROTECTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION
BOOKS AND COURSE MATERIALS FOR TUITION PROGRAM
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Charles Sidoti President | OfficerTrustee | 40 | $84,243 |
Roger J Pare Clerk | OfficerTrustee | 1.5 | $0 |
Steve Brandt Director | Trustee | 0.6 | $0 |
Kristin Brief Director | Trustee | 0.6 | $0 |
Nakita Persaud Devlin Director | Trustee | 0.6 | $0 |
Dr Phil Budden Director | Trustee | 0.6 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $3,255 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $316,449 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $319,704 |
Total Program Service Revenue | $13,697 |
Investment income | $0 |
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 | $333,401 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $84,243 |
Compensation of current officers, directors, key employees. | $84,243 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $3,545 |
Fees for services: Management | $0 |
Fees for services: Legal | $14,453 |
Fees for services: Accounting | $1,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $13,150 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,500 |
Advertising and promotion | $19,814 |
Office expenses | $498 |
Information technology | $16,835 |
Royalties | $0 |
Occupancy | $0 |
Travel | $1,181 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,608 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $471 |
All other expenses | $1,169 |
Total functional expenses | $232,500 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $106,200 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $106,200 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $200 |
Retained earnings, endowment, accumulated income, or other funds | $106,000 |
Total liabilities and net assets/fund balances | $106,200 |
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