Iowa Innovation Corporation in Des Moines, Iowa (IA)
Table of contents:
| Iowa Innovation Corporation | |
| Employer Identification Number (EIN) | 453690618 |
| Name of Organization | Iowa Innovation Corporation |
| Address | 309 Court Ave Ste 222, Des Moines, IA 50309-2259 |
| Subsection | Charitable Organization |
| Ruling Date | 10/2013 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $500,000 to $999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $801,632 |
| Amount of Income | $1,096,234 |
| Form 990 Revenue Amount | $1,096,234 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Management Services for Small Business, Entrepreneurs |
Non-representatives - add comments:
Amount of income in 2013: $1,096,234 (it was $470,583 in 2012)
| Iowa Innovation Corporation: | $1,096,234 |
| Other organizations performing similar types of work: | $127,010 |
Assets in 2013: $801,632 (it was $635,183 in 2012)
| Iowa Innovation Corporation: | $801,632 |
| Other organizations performing similar types of work: | $83,317 |
Expenses in 2012: $365,923
| Iowa Innovation Corporation: | $365,923 |
| Other organizations performing similar types of work: | $154,560 |
Income to expenses ratio in 2012: 3.0
| This organization: | 3.0 |
| Other organizations performing similar types of work: | 1.1 |
Number of employees in 2012: 2
| Iowa Innovation Corporation: | 2 |
| Other organizations performing similar types of work: | 3 |
Grants share in income in 2012: 99.9%
| This organization: | 99.9% |
| Other organizations performing similar types of work: | 40.6% |
Revenue for 2012
Functional expenses for 2012
Support schedule
| Statements Regarding Other IRS Filings and Tax Compliance (for 2012) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2012) | |
| Total revenue | $470,583 |
| Contributions, Gifts, Grants and Other Similar Amounts | $469,928 |
| Program Service Revenue | $0 |
| Other Revenue | |
| Investment income (including dividends, interest, and other similar amounts) | $655 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $0 |
| Statement of Functional Expenses (for 2012) | |
| Total functional expenses | $365,923 |
| Compensation of current officers, directors, trustees, and key employees | $135,000 |
| Other salaries and wages | $88,893 |
| Payroll taxes | $3,023 |
| Professional fundraising services | $0 |
| Other | $139,007 |
| Balance Sheet (for 2012) | |
| Total assets | $635,183 |
| Total liabilities | $530,523 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $530,523 |
| Total net assets or fund balances | $104,660 |
| Retained earnings, endowment, accumulated income, or other funds | $104,660 |
| Reason for Public Charity Status (for 2012) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012) | |
| 2008 - 2012 Total | |
|---|---|
| Total Support | $470,583 |
| Gifts, grants, contributions, and membership fees received | $469,928 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $655 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Craft3 Investment I Llc | PO BOX 826, Ilwaco, WA 98624-0826 | WA | 1995-07 | $18,154,406 |
| 2 | Masschallenge | 21 Dry Dock Ave 6th Flr, Boston, MA 02210-2384 | MA | 2010-04 | $4,959,384 |
| 3 | Small Business Majority Foundation Inc | 4000 Bridgeway Ste 101, Sausalito, CA 94965-1444 | CA | 2010-11 | $4,935,336 |
| 4 | Western North Carolina Regional Economic Development Non-Profit Co | 134 Wright Brothers Way, Fletcher, NC 28732-7808 | NC | 1996-02 | $2,225,305 |
| 5 | Women Venture | 2021 E Hennepin Ave Ste 200, Minneapolis, MN 55413-2724 | MN | 1984-09 | $1,770,287 |
| 6 | Los Angeles Cleantech Incubator | 411 S Hewitt Street, Los Angeles, CA 90013 | CA | 2012-08 | $1,684,863 |
| 7 | Puerto Rico Manufacturing Extension Primex Inc, Primex | Mercantil Plaza Ste 819, San Juan | international | 1996-12 | $1,678,335 |
| 8 | Startx | 2627 Hanover St, Palo Alto, CA 94304-1118 | CA | 2013-06 | $1,657,007 |
| 9 | Rockford Area Strategic Initiatives | 100 Park Ave Ste 100, Rockford, IL 61101-1099 | IL | 2010-06 | $1,367,725 |
| 10 | Commonwise Education Inc | 464 Black Willow Ln, Charlotte, VT 05445-4405 | VT | 2011-09 | $1,303,500 |
| 11 | Iowa Innovation Corporation | 309 Court Ave Ste 222, Des Moines, IA 50309-2259 | IA | 2013-10 | $1,096,234 |
| 12 | Kauffman Laboratories For Enterprise Creation Inc | Enterprise Creation Inc 4801 Rockhi, Kansas City, MO 64110 | MO | 2014-09 | $1,024,080 |
| 13 | Women In Progress Inc | 2205 California St Ne Ste 110, Minneapolis, MN 55418-3353 | MN | 2002-11 | $946,703 |
| 14 | Cedar Valley Growth Fund I Inc | 3835 W 9th St, Waterloo, IA 50702-5913 | IA | 2010-04 | $569,850 |
| 15 | Iowa Community Capital | 915 8th Street Suite 205, Boone, IA 50036 | IA | 2004-03 | $166,355 |
| 16 | West Des Moines Business Incubator | 2829 Westown Pkwy Ste 220, W Des Moines, IA 50266-1314 | IA | 2010-12 | $67,114 |
| 17 | Mid Iowa Development Fund Inc | 1205 North Drive, Polk City, IA 50226 | IA | 1995-11 | $33,437 |
| 18 | Cr Small Business Recovery | PO BOX 2292, Cedar Rapids, IA 52406 | IA | 2010-02 | $0 |
| 19 | Iowa Women-Owned Business Initiative Inc, Ascent | 210 2nd St Se Ste 304, Cedar Rapids, IA 52401-1407 | IA | 2013-07 | $0 |
| 20 | Silk Road Advisors | 8 West 4th St Ste 1, Spencer, IA 51301 | IA | 2014-10 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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