Convergent Research Inc
- Assets
- $85.5m
- Revenue
- $100.2m
- Investments
- $0.0
- Employees
- 146
- Location
- Cambridge, MA
- Founding
- Data as of
- 12/2023
- EIN
- 88-3013217
Organization Overview
Convergent Research Inc is located in Cambridge, MA. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Convergent Research Inc employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Convergent Research 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 12/2023, Convergent Research Inc generated $100.2m in total revenue. All expenses for the organization totaled $30.2m during the year ending 12/2023. While expenses have increased by 115.4% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A DELAWARE NON-PROFIT, NON-STOCK CORPORATION FORMED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES. IN FURTHERANCE OF SUCH PURPOSES, THE ORGANIZATION WILL FOSTER, SUPPORT, PROMOTE, AND CONDUCT PROGRAMS, PROJECTS, AND ACTIVITIES DESIGNED TO DEVELOP AND ACCELERATE SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND INNOVATION IN THE PUBLIC INTEREST, INCLUDING, WITHOUT LIMITATION, THROUGH INCUBATING RESEARCH PROJECTS AND FACILITATING COLLABORATIONS TO BUILD ESSENTIAL RESEARCH TOOLS AND RESOURCES THAT CAN BE DEPLOYED BROADLY FOR THE PUBLIC BENEFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH: SUPPORTED SCIENTISTS, ENGINEERS, PROJECT MANAGERS AND ADMINISTRATORS IN FOCUSED RESEARCH ORGANIZATIONS DEDICATED TO THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY. PROVIDED SCIENTIFIC AND TECHNOLOGICAL ANALYSIS CAPABILITIES SUCH AS MICROSCOPY AND DNA SEQUENCING, BRAIN CIRCUIT MAPPING, OCEAN-BASED CARBON DIOXIDE REMOVAL, AND OTHER EQUIPMENT TO SUPPORT FOCUSED RESEARCH ORGANIZATION ADVANCEMENTS. PROVIDED LABORATORY AND OFFICE SPACE FOR FOCUSED RESEARCH ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Kalil Board Member | Trustee | 1 | $0 |
Megan Blewett Board Member | Trustee | 1 | $0 |
Cheryl Martin Board Member | Trustee | 1 | $0 |
Morgan Levine Board Member | Trustee | 1 | $0 |
Richard Murray Board Member | Trustee | 1 | $0 |
Adam Marblestone Chief Executive Officer | Officer | 40 | $347,699 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Butterfly Network Co Development Neurotechnology | 12/30/23 | $3,500,000 |
Leaflabs Llc Thor Electroporation | 12/30/23 | $278,380 |
Agency Enterprise Advisory Services | 12/30/23 | $116,646 |
Neha Tembey Design Design Services | 12/30/23 | $107,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,526,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,526,901 |
| Total Program Service Revenue | $303,000 |
| Investment income | $251,340 |
| 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 | $100,177,078 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $425,456 |
| 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. | $737,195 |
| Compensation of current officers, directors, key employees. | $47,861 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,264,642 |
| Pension plan accruals and contributions | $570,138 |
| Other employee benefits | $974,387 |
| Payroll taxes | $801,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $869,695 |
| Fees for services: Accounting | $167,230 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,993,568 |
| Advertising and promotion | $0 |
| Office expenses | $2,919,895 |
| Information technology | $360,559 |
| Royalties | $0 |
| Occupancy | $3,163,572 |
| Travel | $317,222 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $348,925 |
| Interest | $35,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $934,480 |
| Insurance | $65,722 |
| All other expenses | $160,697 |
| Total functional expenses | $30,152,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,547,078 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $39,355,738 |
| 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 | $329,675 |
| Net Land, buildings, and equipment | $4,457,560 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,821,062 |
| Total assets | $85,511,113 |
| Accounts payable and accrued expenses | $1,256,436 |
| 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 | $9,647,657 |
| Total liabilities | $10,904,093 |
| Net assets without donor restrictions | $8,277,237 |
| Net assets with donor restrictions | $66,329,783 |
| 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 | $85,511,113 |