Rocky Mountain Innovation Initiative Inc
- Assets
- $6.6m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 27
- Location
- Fort Collins, CO
- Founding
- 09/2009
- Data as of
- 12/2021
- EIN
- 77-0707779
Organization Overview
Rocky Mountain Innovation Initiative Inc, operating under the name Rocky Mountain Innosphere, is located in Fort Collins, CO. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Rocky Mountain Innosphere employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rocky Mountain Innosphere 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, Rocky Mountain Innosphere generated $6.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.7% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE THE SUCCESS OF STARTUP COMPANIES AND TO PROMOTE AN ENTREPRENEURIAL CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKY MOUNTAIN INNOSPHERE SERVES AS A BUSINESS INCUBATOR FOR STARTUPCOMPANIES. INCUBATED COMPANIES ARE PROVIDED ASSISTANCE IN RAISINGCAPITAL, HELP IN ASSEMBLING SOLID MANAGEMENT TEAMS, STRATEGIC CORPORATEPARTNER DEVELOPMENT, RELATIONSHIPS WITH TEST AND DEMONSTRATIONFACILITIES, DISCOUNTED PROFESSIONAL SERVICE PROVIDERS, AND MANYEDUCATIONAL AND NETWORKING OPPORTUNITIES.
THE INCUBATION PROGRAM ACCELERATES THE SUCCESS OF HIGH IMPACT SCIENCE AND TECHNOLOGY BASED START UP AND SCALE UP COMPANIES IN COLORADO. IT FOCUSES ON ENSURING COMPANIES ARE INVESTOR READY, CONNECTING TO ENTREPRENEURS WITH EXPERIENCED ADVISORS, MAKING INTRODUCTIONS TO CORPORATE PARTNERS, EXIT PLANNING AND ACCELERATING TOP LINE REVENUE GROWTH.
INNOSPHERE SECURED FUNDING FROM THE US EDA TO SUPPORT THE FORMATION OF ITS SECOND VENTURE CAPITAL FUND. THOSE FUNDS COMBINED WITH SOME RESIDUAL FUND I MANAGEMENT FEE PROVIDED THE FUNDING FOR THIS PROGRAM.
NOCO BIO CLUSTER AND MEDTECH FOUNDER PROGRAM. NOCO BIO ADVANCES PROGRAMS FOR BIOSCIENCE AND LIFE SCIENCE STARTUPS THAT CREATE MEANINGFUL OUTREACH AND CONTENT THAT PROMOTES NORTHERN COLORADO AS A HOTBED FOR LIFE SCIENCE AND DIGITAL HEALTH ACTIVITY AND HELPS COMPANIES SIGNIFICANTLY GROW BY ASSISTING IN THEIR FUNDRAISING. MEDTECH FOUNDER PROGRAM WAS SPECIFICIALLY DESIGNED FOR FOUNDERS SEEKING EXPERT HELP IN DRIVING THEIR MEDTECH INNOVATION TO MARKET, OFFERING ONE ON ONE SUPPORT TO ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Freeman CEO | Officer | 40 | $191,919 |
John Leonard Board Chair | OfficerTrustee | 2 | $0 |
Brian Robinson Board Secretary | Trustee | 2 | $0 |
Jeremy Held Board Member | Trustee | 2 | $0 |
Patrick Kanouff Board Member | Trustee | 1 | $0 |
Seonah Kendall Board Member | Trustee | 2 | $0 |
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 | $6,155,030 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,155,030 |
| Total Program Service Revenue | $524,590 |
| Investment income | $17,672 |
| 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 | $6,899,979 |
| 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. | $208,119 |
| Compensation of current officers, directors, key employees. | $49,949 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $264,937 |
| Pension plan accruals and contributions | $18,439 |
| Other employee benefits | $62,458 |
| Payroll taxes | $57,183 |
| Fees for services: Management | $178,662 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $64,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $449 |
| Advertising and promotion | $49,290 |
| Office expenses | $11,051 |
| Information technology | $34,976 |
| Royalties | $0 |
| Occupancy | $34,212 |
| Travel | $14,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,341 |
| Interest | $11,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,224 |
| Insurance | $4,501 |
| All other expenses | $0 |
| Total functional expenses | $1,030,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $660,120 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $634,217 |
| 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 | $1,313,041 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $55,410 |
| Other assets | $3,929,307 |
| Total assets | $6,592,095 |
| Accounts payable and accrued expenses | $304,640 |
| 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 | $225,000 |
| Other liabilities | $155,589 |
| Total liabilities | $685,229 |
| Net assets without donor restrictions | $5,906,866 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,592,095 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rocky Mountain Innovation Initiative Inc has recieved totaling $15,005.
| Awarding Organization | Amount |
|---|---|
Nebraska Community Foundation Lincoln, NE PURPOSE: GENERAL SUPPORT | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Visit Salt Lake Salt Lake City, UT | $7,092,794 | $14,927,768 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Cplc Nevada Inc Phoenix, AZ | $8,204,824 | $6,300,794 |
Wichita Convention & Tourism Bureau Wichita, KS | $3,697,930 | $5,439,635 |
South Central Kansas Economic Development District Inc Sckedd Bel Aire, KS | $6,963,572 | $7,360,259 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
I2e Inc Oklahoma City, OK | $27,869,803 | $5,344,576 |
Partnership For Economic Innovation Tempe, AZ | $1,809,665 | $4,093,737 |
Albuquerque Convention & Visitors Bureau Inc Albuquerque, NM | $3,028,509 | $4,018,411 |