Innovation Foundation Inc
- Assets
- $167.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 17
- Location
- Chicago, IL
- Founding
- 02/2011
- Data as of
- 12/2021
- EIN
- 80-0633175
Organization Overview
Innovation Foundation Inc is located in Chicago, IL. The organization was established in 2011. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Innovation Foundation Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Foundation 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, Innovation Foundation Inc generated $5.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (60.3%) each year. All expenses for the organization totaled $431.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
CHICAGO IDEAS WEEK'S MISSION IS TO PROMOTE AND ENCOURAGE SHARING IDEAS, INSPIRING ACTION, AND IGNITING CHANGE TO POSITIVELY IMPACT THE WORLD. THE PROGRAM ANNUALLY HOSTS CHICAGO IDEAS WEEK WHICH BRINGS TOGETHER SOME OF THE WORLD'S MOST OUTSTANDING SPEAKERS TO PRESENT THEIR IDEAS AND INSPIRE THE INNOVATIONS OF TOMORROW AT VARIOUS SESSIONS ACROSS THE CITY OF CHICAGO. DUE TO THE COVID-19 PANDEMIC, PROGRAM SERVICES ARE EXCLUSIVELY HELD VIRTUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Smith Director | 1 | $50,000 | |
Bradley A Keywell Chairman | 1 | $0 | |
Kim Keywell Director | 1 | $0 | |
Nora Daley Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Harris Theater For Music And Dance Production Services | 12/30/19 | $170,817 |
Fuse Technical Group Event Production | 12/30/19 | $185,680 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $682 |
| Total Program Service Revenue | $0 |
| Membership dues | $5,211 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $5,893 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $252,071 |
| Professional fees and other payments to independent contractors | $77,913 |
| Occupancy, rent, utilities, and maintenance | $700 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $100,537 |
| Total expenses | $431,221 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $88,828 |
| Other assets | $0 |
| Total assets | $167,573 |
| Total liabilities | $5,055 |
| Net assets or fund balances | $162,518 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Innovation Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Ring Family Foundation Chicago, IL PURPOSE: General Operating Support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Cook Workforce Partnership Chicago, IL | $32,171,643 | $83,286,997 |
Project Lead The Way Inc Indianapolis, IN | $104,347,608 | $65,462,690 |
Aspira Inc Of Illinois Chicago, IL | $37,783,687 | $23,094,089 |
Lighthouse Academies Of Northwest Indiana Inc Gary, IN | $25,011,234 | $24,142,982 |
Riverbend Head Start Delegate Inc Alton, IL | $2,230,032 | $11,645,370 |
Edchoice Inc Indianapolis, IN | $20,542,454 | $10,117,129 |
Teachers Treasures Inc Indianapolis, IN | $1,070,406 | $9,359,257 |
Academy For Urban School Leadership Chicago, IL | $9,385,123 | $10,302,671 |
Primo Center For Women And Children Chicago, IL | $5,281,489 | $8,337,109 |
North Chicago Education Fund Chicago, IL | $29,249,144 | $33,611 |
Racine Charter One Inc Racine, WI | $5,378,275 | $6,487,272 |
Rockford Rescue Mission Ministries Rockford, IL | $21,367,986 | $9,020,470 |