Ivory Innovations
- Assets
- $30.1m
- Revenue
- $18.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- Data as of
- 09/2022
- EIN
- 85-3959641
Organization Overview
Ivory Innovations is located in Salt Lake City, UT. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ivory Innovations is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ACCORDANCE WITH REV PROC 93-32, WE PROVIDE HOUSING TO LOW AND VERY LOW INCOME INDIVIDUALS WHOSE INCOME IS 50%, 60% OR 80% OF THE AREA MEADIAN INCOME.
THE IVORY PRIZE IS AN ANNUAL AWARD RECOGNIZING AMBITIOUS, FEASIBLE, AND SCALABLE SOLUTIONS TO HOUSING AFFORDABILITY. THE PRIZE IS DESIGNED TO AWARD INNOVATORS FOR THEIR EFFORTS AND PROVIDE MATERIAL SUPPORT TO ADVANCE THEIR PROJECTS. THE SEARCH COMMITTEE LOOKS FOR SOLUTIONS THAT COMBINE ELEMENTS OF FINANCE, POLICY, AND DESIGN/CONSTRUCTION. INNOVATORS INCLUDE SMALL AND LARGE SCALE COMPANIES, NON-PROFITS, OR GOVERNMENT ENTITIES. THIS ALSO INCLUDES THE HACK-A-HOUSE PROGRAM. HACK-A-HOUSE PATHWAY EDUCATION PROGRAM IS DEDICATED TO CATALYZING HIGH IMPACT INNOVATIONS IN HOUSING AFFORDABILITY WHICH SEEKS TO PROMOTE THE MOST COMPELLING IDEAS IN HOUSING AFFORDABILITY BY WORKING ACROSS SECTORS, PROVIDING MONETARY AWARDS FOR GROUNDBREAKING INNOVATIONS AND LEVERAGING ITS NETWORK AND RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abby Ivory Director | 1 | $0 | |
Clark Ivory Director And President | 2 | $0 | |
Darin Haskell Director And Secretary | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focus Engineering & Surveying | 9/29/22 | $63,438 |
Hadco Construction | 9/29/22 | $350,000 |
Colton Housing Group | 9/29/22 | $100,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,615,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,615,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $187,421 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,502 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $21,572 |
| Printing and publications | $0 |
| Other expenses | $217,442 |
| Total operating and administrative expenses | $495,003 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $495,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,522 |
| Savings and temporary cash investments | $16,355,000 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $4,227,279 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $8,555,000 |
| Other assets | $919,144 |
| Total assets | $30,120,945 |
| Accounts payable and accrued expenses | $9,376 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,376 |
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