Nonprofit · EIN 26-2737088
NORTH SHORE INNOVENTURES INC
Tax-exempt · BEVERLY, MA 01915
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,037,255 | $1,809,010 | -$771,755 | $6,618,962 | $3,826,535 | $2,792,427 |
| June 30, 2024 | 990 | $3,239,257 | $1,671,974 | $1,567,283 | $7,429,445 | $3,722,130 | $3,707,315 |
| June 30, 2023 | 990 | $2,192,702 | $1,626,228 | $566,474 | $3,159,154 | $945,972 | $2,213,182 |
| June 30, 2022 | 990 (amended) | $1,567,904 | $1,579,213 | -$11,309 | $2,900,574 | $1,253,866 | $1,646,708 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $55,456
- of which government grants
- $9,999
- Program service revenue
- $981,776
- Investment income
- $23
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $222,224
- Other salaries and wages
- $114,488
- Salaries, compensation and benefits (total)
- $368,349
- Professional fundraising fees
- $0
- Legal fees
- $3,765
- Accounting fees
- $12,370
- Occupancy
- $749,589
- Travel
- $1,139
- Depreciation
- $554,437
- Program services (functional)
- $1,724,012
- Management and general (functional)
- $42,499
- Fundraising (functional)
- $42,499
Balance sheet and other
- Total assets, start of year
- $7,429,445
- Total assets, end of year
- $6,618,962
- Total liabilities, end of year
- $3,826,535
- Net assets, end of year
- $2,792,427
- Land, buildings and equipment
- $3,319,499
- Net assets without donor restrictions
- -$540,767
- Net assets with donor restrictions
- $3,333,194
- Gross receipts
- $1,037,255
- Employees
- 6
- Volunteers
- 20
- Year formed
- 2008
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chris Ilsley | President & CEO Trustee or director, Officer | 40 | $119,244 |
| Christine Kressirer | Past COO Trustee or director, Officer | 40 | $102,981 |
| Harry McCoy | Chairman Trustee or director, Officer | 2 | $0 |
| Alex Van Adzin | Director Trustee or director | 2 | $0 |
| Bob Barton | Director Trustee or director | 2 | $0 |
| Hemmie Chang | Director Trustee or director | 2 | $0 |
| Martha Farmer | Director Trustee or director | 2 | $0 |
| Mary Grant | Director Trustee or director | 2 | $0 |
| Jean Jacques Yarmoff | Director Trustee or director | 2 | $0 |
| Tom Kinneman | Director Trustee or director | 6 | $0 |
| Nicola Lemay | Director Trustee or director | 2 | $0 |
| David Reibel | Director Trustee or director | 2 | $0 |
| Chad Robinson | Treasurer Officer | 2 | $0 |
| Jack Swig | Clerk Officer | 2 | $0 |
990 for the year ended June 30, 2024: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chris Ilsley | President & CEO Trustee or director, Officer | 40 | $119,244 |
| Jeff DeFrank | Manager of Lab Operations Highest-paid employee | 40 | $105,599 |
| Christine Kressirer | COO Officer | 30 | $98,037 |
| Harry G McCoy | Chairman Trustee or director, Officer | 1 | $0 |
| Chad Robinson | Treasurer Trustee or director, Officer | 2 | $0 |
| Jack Swig | Clerk Trustee or director, Officer | 2 | $0 |
| Alex Van Adzin | Director Trustee or director | 1 | $0 |
| Bob Barton | Director Trustee or director | 1 | $0 |
| Thomas Forest Farb | Director Trustee or director | 1 | $0 |
| Martha Farmer | Director Trustee or director | 1 | $0 |
| Mary Grant | Director Trustee or director | 1 | $0 |
| David Reibel | Director Trustee or director | 1 | $0 |
| Jean-Jacques Yarmoff | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chris Ilsley | President & CEO Trustee or director, Officer | 40 | $113,038 |
| Thomas Kinneman | Past Vice President & COO Trustee or director, Officer | 30 | $83,495 |
| Harry G McCoy | Chairman Trustee or director, Officer | 1 | $0 |
| Chad Robinson | Treasurer Trustee or director, Officer | 2 | $0 |
| Jack Swig | Clerk Trustee or director, Officer | 2 | $0 |
| Alex Van Adzin | Director Trustee or director | 1 | $0 |
| Bob Barton | Director Trustee or director | 1 | $0 |
| Thomas Forest Farb | Director Trustee or director | 1 | $0 |
| Martha Farmer | Director Trustee or director | 1 | $0 |
| Mary Grant | Director Trustee or director | 1 | $0 |
| David Reibel | Director Trustee or director | 1 | $0 |
| Jean-Jacques Yarmoff | Director Trustee or director | 1 | $0 |
| Christine Kressirer | COO Officer | 30 | $0 |
990 for the year ended June 30, 2022: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chris Ilsley | President & CEO Trustee or director, Officer | 40 | $110,025 |
| Thomas Kinneman | Vice President & COO Trustee or director, Officer | 30 | $56,265 |
| Harry G McCoy | Chairman Trustee or director, Officer | 1 | $0 |
| Alex Van Adzin | Director Trustee or director | 1 | $0 |
| Bob Barton | Director Trustee or director | 1 | $0 |
| Thomas Forest Farb | Director Trustee or director | 1 | $0 |
| Martha Farmer | Director Trustee or director | 1 | $0 |
| Mary Grant | Director Trustee or director | 1 | $0 |
| David Reibel | Director Trustee or director | 1 | $0 |
| Jean-Jacques Yarmoff | Director Trustee or director | 1 | $0 |
| Chad Robinson | Treasurer Officer | 2 | $0 |
| Jack Swig | Clerk Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 100 CUMMINGS CTR STE 451C, BEVERLY, MA 01915-6132
- In care of
- % MARTHA C FARMER
- Principal officer (990 for 2024)
- Chris Ilsley, 100 Cummings Center 451-C, Beverly, MA 01915
- Signed the 990
- Chris Ilsley, President & CEO
- Phone
- (978) 867-0600
- Website
- www.nsiv.org
- Return prepared by
- Berry Dunn McNeil & Parker LLC
Mission
Operate a non-profit business incubator designed to foster innovation in the life sciences and clean tech and thus support economic development.
Program accomplishments
- 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.Expenses $1,371,030 · revenue $792,626
- The 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.Expenses $352,982 · revenue $189,150
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 26-2737088
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2009
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $6,618,962
- Income (IRS master file)
- $1,037,255
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,037,255 | $1,809,010 | $6,618,962 | IRS |
| 990 | June 2024 | $3,239,257 | $1,671,974 | $7,429,445 | IRS |
| 990 | June 2023 | $2,192,702 | $1,626,228 | $3,159,154 | XML |
| 990 | June 2022 | $1,567,904 | $1,579,213 | $2,900,574 | XML |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-2737088).
Questions about NORTH SHORE INNOVENTURES INC
- What is the EIN of NORTH SHORE INNOVENTURES INC?
- The employer identification number (EIN) of NORTH SHORE INNOVENTURES INC is 26-2737088.
- Is NORTH SHORE INNOVENTURES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
- Are donations to NORTH SHORE INNOVENTURES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NORTH SHORE INNOVENTURES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORTH SHORE INNOVENTURES INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORTH SHORE INNOVENTURES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of NORTH SHORE INNOVENTURES INC?
- The 990 for the year ended June 30, 2025 names Chris Ilsley.
- Who are the officers and directors of NORTH SHORE INNOVENTURES INC?
- The 990 for the year ended June 30, 2025 lists 14 people; 2 received compensation from the organization, the highest $119,244 (Chris Ilsley, President & CEO).
- How much revenue does NORTH SHORE INNOVENTURES INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,037,255, expenses of $1,809,010 and total assets of $6,618,962 at year end.
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