INNOVATION WORKS INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- INNOVATION WORKS INC (EIN 25-1588611)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-05-15
- IRS object ID
- 202441369349307664
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-15T11:46:17-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 251467156 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SISTERSON & CO LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 GRANT STREET SUITE 2100 | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 251588611 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INNOVATION WORKS INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | INNO | BusinessNameControlTxt |
| Phone | 4126811520 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | TWO ALLEGHENY CENTER 100 | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15212 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VEN RAJU | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 4126811520 | PhoneNum |
| Signature | 2024-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | VEN | PersonFirstNm |
| Person Last | RAJU | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KIMBERLEY A MILLER | PreparerPersonNm |
| PTIN | P01324554 | PTIN |
| Phone | 4122812025 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | VEN RAJU | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | TWO ALLEGHENY CENTER 100 | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15212 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $18,090,944 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.INNOVATIONWORKS.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1988 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | INNOVATION WORKS' MISSION IS TO INCREASE THE SUCCESS RATE OF THE REGION'S TECHNOLOGY AND TECHNOLOGY ADOPTING COMPANIES THROUGH DIRECT INVESTMENT, BUSINESS ASSISTANCE, AND INFRASTRUCTURE DEVELOPMENT. UNDERLYING IW'S MISSION IS THE BELIEF THAT INNOVATION IS A KEY ENGINE OF GROWTH FOR THE SOUTHWESTERN PENNSYLVANIA REGION. ACTIVITIES UNDERTAKEN BY INNOVATION WORKS IN PURSUIT OF THIS MISSION HAVE RESULTED IN SIGNIFICANT COMMUNITY DEVELOPMENT BENEFITS, INCLUDING CREATION OF JOBS, ATTRACTION OF INVESTMENT, AND INCREASED COMPETITIVE ADVANTAGE FOR COMPANIES LOCATED IN SOUTHWESTERN PENNSYLVANIA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 38 | TotalEmployeeCnt |
| Total Volunteers | 55 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $5,590,473 | PYContributionsGrantsAmt |
| CY Contributions Grants | $12,537,505 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $18,000,352 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,024,660 | CYProgramServiceRevenueAmt |
| PY Investment Income | $481,904 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,234,754 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $1,166 | CYOtherRevenueAmt |
| PY Total Revenue | $24,072,729 | PYTotalRevenueAmt |
| CY Total Revenue | $15,798,085 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $101,727 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $446,560 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,153,863 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,287,904 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $43,105 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,722,953 | PYOtherExpensesAmt |
| CY Other Expenses | $9,132,205 | CYOtherExpensesAmt |
| PY Total Expenses | $10,978,543 | PYTotalExpensesAmt |
| CY Total Expenses | $15,866,669 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $13,094,186 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$68,584 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $48,998,670 | TotalAssetsBOYAmt |
| Total Assets EOY | $49,208,659 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,129,667 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $7,710,198 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $45,869,003 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $41,498,461 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE OINNOVATION WORKS' MISSION IS TO INCREASE THE SUCCESS RATE OF THE REGION'S TECHNOLOGY AND TECHNOLOGY ADOPTING COMPANIES THROUGH DIRECT INVESTMENT, BUSINESS ASSISTANCE, AND INFRASTRUCTURE DEVELOPMENT. UNDERLYING IW'S MISSION IS THE BELIEF THAT INNOVATION IS A KEY ENGINE OF GROWTH FOR THE SOUTHWESTERN PENNSYLVANIA REGION. ACTIVITIES UNDERTAKEN BY INNOVATION WORKS IN PURSUIT OF THIS MISSION HAVE RESULTED IN SIGNIFICANT COMMUNITY DEVELOPMENT BENEFITS, INCLUDING CREATION OF JOBS, ATTRACTION OF INVESTMENT, AND INCREASED COMPETITIVE ADVANTAGE FOR COMPANIES LOCATED IN SOUTHWESTERN PENNSYLVANIA. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | Yes (1) | SignificantChangeInd |
| Expense | $12,826,325 | ExpenseAmt |
| Grant | $446,560 | GrantAmt |
| Revenue | $2,025,826 | RevenueAmt |
| Desc | SEE SCHEDULE O | Desc |
| Total Program Service Expenses | $12,826,325 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 51 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 38 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | BF | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (1) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | PA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KELLI MCMURRAY | PersonNm |
| Phone | 4126811520 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | NOVA TOWER 2 TWO ALLEGHENY CENTER | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15212 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| MR RICHARD R LUNAK | |||||||
| PRESIDENT & CEO (THRU 9/22) | 40.00 | Yes (X) | $513,325 | $0 | $52,721 | ||
| MR VEN RAJU | |||||||
| PRESIDENT & CEO (AS OF 10/22) | 40.00 | Yes (X) | $355,029 | $0 | $45,921 | ||
| MR JIM JEN | |||||||
| VP & COO (THRU 2/23) | 40.00 | Yes (X) | $285,880 | $0 | $51,126 | ||
| MR KIRK BOTULA | |||||||
| VP & CSOO (AS OF 3/23) | 40.00 | Yes (X) | $0 | $0 | $0 | ||
| MR ROBERT STARZYNSKI | |||||||
| VP OF BUSINESS DEVELOPMENT, TREASURER | 40.00 | Yes (X) | $216,077 | $0 | $37,555 | ||
| MS MEGAN SHAW | |||||||
| PORTFOLIO EXECUTIVE (THRU 4/23) | 40.00 | $223,885 | $0 | $21,766 | Yes (X) | ||
| MR JEFFERY MCDANIEL | |||||||
| PORTFOLIO EXECUTIVE | 40.00 | $203,468 | $0 | $40,090 | Yes (X) | ||
| MS TERRI GLUECK | |||||||
| VP, COMMUNICATIONS & COMMU | 40.00 | Yes (X) | $198,235 | $0 | $38,391 | ||
| MS KELLEY BENSON | |||||||
| VP HUMAN RESOURCES & INCLU | 40.00 | Yes (X) | $201,004 | $0 | $35,372 | ||
| MR AFSHAN KHAN | |||||||
| PORTFOLIO EXECUTIVE | 40.00 | $184,884 | $0 | $42,628 | Yes (X) | ||
| MR MICHAEL FORMICA | |||||||
| PORTFOLIO EXECUTIVE (THRU 6/23) | 40.00 | $184,876 | $0 | $36,236 | Yes (X) | ||
| MR JAMES WRUBEL | |||||||
| PORTFOLIO EXECUTIVE | 40.00 | $183,224 | $0 | $29,277 | Yes (X) | ||
| MS SUSAN KIJOWSKI | |||||||
| SECRETARY & CONTROLLER (THRU 7/22) | 40.00 | Yes (X) | $159,146 | $0 | $24,259 | ||
| MS KELLI MCMURRAY | |||||||
| SECRETARY & CONTROLLER (AS OF 7/22) | 40.00 | Yes (X) | $130,486 | $0 | $16,547 | ||
| MS CATHERINE MOTT | |||||||
| BOARD CHAIR | 2.50 | $0 | $0 | $0 | Yes (X) | ||
| MR ROBERT A RUTENBAR | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| DR STEVEN REIS | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MS REBECCA DOERGE | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MR JOE FERRARA | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MR TOM JONES | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MS DONNA MYERS | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MR JIMMY WILLIAMS | |||||||
| BOARD MEMBER | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MR WILLIAM SANDERS | |||||||
| BOARD MEMBER (AS OF 6/23) | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| MR JUAN GARRETT | |||||||
| BOARD MEMBER (THRU 12/22) | 0.75 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,039,519 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $471,889 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 16 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BUCHANAN INGERSOLL & ROONEY PC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 GRANT STREET SUITE 200 | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | LEGAL | ServicesDesc |
| Compensation | $249,265 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $10,921,565 | GovernmentGrantsAmt |
| All Other Contributions | $1,615,940 | AllOtherContributionsAmt |
| Total Contributions | $12,537,505 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN & EQUITY INCOME | 900000 | $2,017,833 | $2,017,833 |
| ROYALTIES | 900000 | $6,827 | $6,827 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,024,660 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,478,907 | TotalRevenueColumnAmt |
| Exclusion | $1,478,907 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,048,706 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,291,277 | SecuritiesAmt |
| Other | $1,582 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$242,571 | SecuritiesAmt |
| Other | -$1,582 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$244,153 | TotalRevenueColumnAmt |
| Exclusion | -$244,153 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS REVENUE | Desc |
| Business | 900000 | BusinessCd |
| Total Revenue Column | $1,166 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,166 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,166 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,798,085 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,025,826 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,234,754 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $446,560 | TotalAmt |
| Program Services | $446,560 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,191,032 | TotalAmt |
| Program Services | $1,488,443 | ProgramServicesAmt |
| Management And General | $685,546 | ManagementAndGeneralAmt |
| Fundraising | $17,043 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,963,379 | TotalAmt |
| Program Services | $2,103,176 | ProgramServicesAmt |
| Management And General | $845,870 | ManagementAndGeneralAmt |
| Fundraising | $14,333 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $421,550 | TotalAmt |
| Program Services | $364,006 | ProgramServicesAmt |
| Management And General | $54,515 | ManagementAndGeneralAmt |
| Fundraising | $3,029 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $439,334 | TotalAmt |
| Program Services | $277,623 | ProgramServicesAmt |
| Management And General | $158,410 | ManagementAndGeneralAmt |
| Fundraising | $3,301 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $272,609 | TotalAmt |
| Program Services | $190,688 | ProgramServicesAmt |
| Management And General | $80,335 | ManagementAndGeneralAmt |
| Fundraising | $1,586 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $438,166 | TotalAmt |
| Program Services | $72,161 | ProgramServicesAmt |
| Management And General | $366,005 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,481 | TotalAmt |
| Management And General | $69,481 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,391 | TotalAmt |
| Program Services | $47,391 | ProgramServicesAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,016 | TotalAmt |
| Management And General | $62,016 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $683,354 | TotalAmt |
| Program Services | $290,855 | ProgramServicesAmt |
| Management And General | $392,499 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,860 | TotalAmt |
| Program Services | $11,975 | ProgramServicesAmt |
| Management And General | $10,885 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,153 | TotalAmt |
| Program Services | $84,409 | ProgramServicesAmt |
| Management And General | $11,530 | ManagementAndGeneralAmt |
| Fundraising | $214 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $179,055 | TotalAmt |
| Program Services | $94,129 | ProgramServicesAmt |
| Management And General | $83,726 | ManagementAndGeneralAmt |
| Fundraising | $1,200 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $602,867 | TotalAmt |
| Program Services | $542,908 | ProgramServicesAmt |
| Management And General | $58,098 | ManagementAndGeneralAmt |
| Fundraising | $1,861 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,178 | TotalAmt |
| Program Services | $28,407 | ProgramServicesAmt |
| Management And General | $10,771 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,720 | TotalAmt |
| Program Services | $13,504 | ProgramServicesAmt |
| Management And General | $10,216 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,348 | TotalAmt |
| Program Services | $3,550 | ProgramServicesAmt |
| Management And General | $25,798 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,133 | TotalAmt |
| Program Services | $40,789 | ProgramServicesAmt |
| Management And General | $15,830 | ManagementAndGeneralAmt |
| Fundraising | $514 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| INVESTMENT IN PORTFOLIO | $6,341,000 | $6,341,000 | $0 | $0 |
| PROGRAM EXPENSES | $336,073 | $333,884 | $2,189 | $0 |
| SUBSCRIPTIONS AND MEMBE | $24,251 | $17,673 | $6,578 | |
| OFFICE FURNITURE & EQUI | $9,456 | $8,556 | $876 | $24 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,703 | TotalAmt |
| Program Services | $24,638 | ProgramServicesAmt |
| Management And General | $46,065 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,866,669 | TotalAmt |
| Program Services | $12,826,325 | ProgramServicesAmt |
| Management And General | $2,997,239 | ManagementAndGeneralAmt |
| Fundraising | $43,105 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,554,779 | BOYAmt |
| EOY | $17,251,795 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $745,092 | BOYAmt |
| EOY | $1,382,758 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,611 | BOYAmt |
| EOY | $117,556 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $996,427 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $930,436 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,921 | BOYAmt |
| EOY | $65,991 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,546,429 | BOYAmt |
| EOY | $23,782,875 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,927,267 | BOYAmt |
| EOY | $5,461,598 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,394 | BOYAmt |
| EOY | $1,146,086 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,998,670 | BOYAmt |
| EOY | $49,208,659 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,412,698 | BOYAmt |
| EOY | $2,116,827 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,636,348 | BOYAmt |
| EOY | $4,436,210 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,621 | BOYAmt |
| EOY | $1,157,161 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,129,667 | BOYAmt |
| EOY | $7,710,198 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,458,574 | BOYAmt |
| EOY | $40,977,816 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $410,429 | BOYAmt |
| EOY | $520,645 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,869,003 | BOYAmt |
| EOY | $41,498,461 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,998,670 | BOYAmt |
| EOY | $49,208,659 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$68,584 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,985,746 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$2,316,212 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,281,468 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,831,337 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,714,569 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,590,473 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $12,537,505 | CurrentTaxYearAmt |
| Total | $33,955,352 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,281,468 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,831,337 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,714,569 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,590,473 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $12,537,505 | CurrentTaxYearAmt |
| Total | $33,955,352 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $1,090,156 | SubstantialContributorsTotAmt |
| Public Support Total170 | $32,865,196 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $625,552 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $658,510 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $472,475 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $528,037 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,478,907 | CurrentTaxYearAmt |
| Total | $3,763,481 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $18,590 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,600 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year | $1,166 | CurrentTaxYearAmt |
| Total | $23,356 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $37,742,189 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $34,541,421 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.87080 | PublicSupportCY170Pct |
| Public Support PY170 | 0.87680 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $0 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | Yes (1) | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $47,391 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $47,391 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II-B, LINE 1: | FormAndLineReferenceDesc |
| Explanation | LOBBYING ACTIVITIES INCLUDE DIRECT CONTACT WITH LEGISLATORS, THEIR STAFF, GOVERNMENT OFFICIALS OR A LEGISLATIVE BODY. | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $879,958 | OtherCostOrOtherBasisAmt |
| Depreciation | $813,967 | DepreciationAmt |
| Book Value | $65,991 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $94,460 | OtherCostOrOtherBasisAmt |
| Depreciation | $94,460 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,009 | OtherCostOrOtherBasisAmt |
| Depreciation | $22,009 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $65,991 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| RIVERFRONT VENTURES | $4,456,896 | F |
| IW MANAGEMENT COMPANY | $131,915 | F |
| COGNITION THERAPEUTICS | $457,343 | F |
| RIVERFRONT VENTURES II | $406,444 | F |
| IW MANAGEMENT COMPANY II | $9,000 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $5,461,598 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LEASE LIABILITY | Desc |
| Amt | $1,157,161 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,157,161 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION ON INCOME TAXES CLARIFIES RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE RELATING TO UNCERTAIN TAX POSITIONS. IW EVALUATES UNCERTAIN TAX POSITIONS FOR RECOGNITION BY DETERMINING WHETHER EVIDENCE INDICATES IT IS MORE LIKELY THAN NOT THAT A POSITION WILL BE SUSTAINED IF EXAMINED BY TAXING AUTHORITIES. AS OF JUNE 30, 2023, IW IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS. IW'S TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2020 AND BEYOND REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| ENCOTECH INC | |||||||||
| P O BOX 305 | EIGHTY FOUR | PA | 15330 | 251504102 | $5,728 | $0 | CASH | N/A | INNOVATION ADOPTION PROGRAM ($5,728) |
| EXPRESSIVE PAINIMATION CO | |||||||||
| 5437 AYLESBORO AVE | PITTSBURGH | PA | 15217 | 372028832 | $25,000 | $0 | CASH | N/A | EMERGING TECHNOLOGY ASSISTANCE PROGRAM ($25,000) |
| GLASSAUTOMATIC INC DBA ROLF GLASS | |||||||||
| 402 EAST MAIN STREET | MT PLEASANT | PA | 15666 | 222387913 | $25,000 | $0 | CASH | N/A | EMERGING TECHNOLOGY ASSISTANCE PROGRAM ($25,000) |
| JE WEINEL DBA ROCK-N-RESCUE | |||||||||
| 300 DELWOOD RD | BUTLER | PA | 16001 | 251425966 | $6,000 | $0 | CASH | N/A | INNOVATION ADOPTION PROGRAM ($6,000) |
| KENSON PLASTICS INC | |||||||||
| 2835 DARLINGTON ROAD | BEAVER FALLS | PA | 15010 | 251416722 | $22,500 | $0 | CASH | N/A | INNOVATION ADOPTION PROGRAM ($20,000) INTERN PROGRAM ($2,500) |
| MAKE IT HOME SAFE LLC | |||||||||
| 100 SOUTH COMMONS SUITE 102 | PITTSBURGH | PA | 15212 | 851683627 | $50,000 | $0 | CASH | N/A | AWARD, UPPRIZE ($50,000) |
| MEERKAT VILLAGE LLC | |||||||||
| 1815 WIGHTMAN ST | PITTSBURGH | PA | 15217 | 872344686 | $100,000 | $0 | CASH | N/A | AWARD, UPPRIZE ($100,000) |
| PRECISION NEUROSCOPICS | |||||||||
| 4620 HENRY ST | PITTSBURGH | PA | 15213 | 854321102 | $150,000 | $0 | CASH | N/A | AWARD, UPPRIZE ($150,000) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Org | 8 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | INNOVATION WORKS' EMPLOYEES WORK DIRECTLY WITH GRANTEES THROUGHOUT THE LIFE OF THE GRANT. FINAL FINANCIAL AND PROGRESS REPORTS ARE ALSO REQUIRED TO BE SUBMITTED BY EACH GRANTEE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MR RICHARD R LUNAK | ||||||||||||||
| PRESIDENT & CEO (THRU 9/22) | $340,568 | $0 | $172,097 | $0 | $660 | $0 | $36,600 | $0 | $16,397 | $0 | $566,322 | $0 | $0 | $0 |
| MR VEN RAJU | ||||||||||||||
| PRESIDENT & CEO (AS OF 10/22) | $290,118 | $0 | $64,911 | $0 | $0 | $0 | $35,542 | $0 | $10,655 | $0 | $401,226 | $0 | $0 | $0 |
| MR JIM JEN | ||||||||||||||
| VP & COO (THRU 2/23) | $229,916 | $0 | $55,301 | $0 | $663 | $0 | $28,051 | $0 | $23,351 | $0 | $337,282 | $0 | $0 | $0 |
| MR ROBERT STARZYNSKI | ||||||||||||||
| VP OF BUSINESS DEVELOPMENT, TREASURE | $170,755 | $0 | $44,744 | $0 | $578 | $0 | $21,100 | $0 | $16,731 | $0 | $253,908 | $0 | $0 | $0 |
| MS MEGAN SHAW | ||||||||||||||
| PORTFOLIO EXECUTIVE (THRU 4/23) | $184,187 | $0 | $39,098 | $0 | $600 | $0 | $21,766 | $0 | $276 | $0 | $245,927 | $0 | $0 | $0 |
| MR JEFFERY MCDANIEL | ||||||||||||||
| PORTFOLIO EXECUTIVE | $169,024 | $0 | $34,444 | $0 | $0 | $0 | $20,950 | $0 | $19,416 | $0 | $243,834 | $0 | $0 | $0 |
| MS TERRI GLUECK | ||||||||||||||
| VP, COMMUNICATIONS & COMMU | $155,396 | $0 | $42,311 | $0 | $528 | $0 | $19,136 | $0 | $19,531 | $0 | $236,902 | $0 | $0 | $0 |
| MS KELLEY BENSON | ||||||||||||||
| VP HUMAN RESOURCES & INCLU | $157,154 | $0 | $43,313 | $0 | $537 | $0 | $19,457 | $0 | $16,192 | $0 | $236,653 | $0 | $0 | $0 |
| MR AFSHAN KHAN | ||||||||||||||
| PORTFOLIO EXECUTIVE | $153,200 | $0 | $31,161 | $0 | $523 | $0 | $18,997 | $0 | $23,907 | $0 | $227,788 | $0 | $0 | $0 |
| MR MICHAEL FORMICA | ||||||||||||||
| PORTFOLIO EXECUTIVE (THRU 6/23) | $153,192 | $0 | $31,161 | $0 | $523 | $0 | $12,604 | $0 | $23,907 | $0 | $221,387 | $0 | $0 | $0 |
| MR JAMES WRUBEL | ||||||||||||||
| PORTFOLIO EXECUTIVE | $151,232 | $0 | $31,464 | $0 | $528 | $0 | $19,181 | $0 | $10,372 | $0 | $212,777 | $0 | $0 | $0 |
| MS SUSAN KIJOWSKI | ||||||||||||||
| SECRETARY & CONTROLLER (THRU 7/22) | $115,348 | $0 | $43,450 | $0 | $348 | $0 | $12,604 | $0 | $11,839 | $0 | $183,589 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 2 | ADDED: ROBOTICS FACTORY - THE ROBOTICS FACTORY INCLUDES THREE PROGRAMS: THE CREATE PROGRAM WILL DRIVE INNOVATION TO MEET INDUSTRY DEMANDS BY BRINGING ENTREPRENEURS, TECHNOLOGY EXPERTS, AND RESEARCHERS TOGETHER WITH SPECIFIC INDUSTRY EXPERTS TO DEFINE EXISTING AND EMERGING PROBLEMS AND IDENTIFY SOLUTIONS; THE ACCELERATE PROGRAM IS AN OPPORTUNITY FOR UP TO SIX PRE-SEED ROBOTICS STARTUPS EACH YEAR TO RECEIVE FUNDING FROM IW, MENTORSHIP, AND RESOURCES TO TAKE THEIR COMPANY TO THE NEXT STAGE OF GROWTH; AND THE SCALE PROGRAM PROVIDES EXPERTISE IN PRODUCT PROTOTYPING AND SERVICES TO HELP STARTUPS DEVELOP PRODUCTION-READY PRODUCTS. |
| FORM 990, PART III, LINE 3 | REMOVED: CORPORATE SERVICES - OUR CORPORATE PROGRAM HELPS STARTUPS AND LARGE CORPORATIONS TO WORK MORE EFFECTIVELY TOGETHER BY FACILITATING CONNECTIONS, UNCOVERING OPPORTUNTIES TO COLLABORATE, AND OFFERING EDUCATIONAL TRAINING AND WORKSHOPS. THE GOAL IS TO AID STARTUPS IN ATTRACTING FIRST CUSTOMERS AND CORPORATIONS IN ACCELERATING THEIR INNOVATION OBJECTIVES. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE SOLE MEMBER OF INNOVATION WORKS, INC. IS MPC CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MPC CORPORATION SHALL HAVE THE RIGHT TO APPROVE CANDIDATES NOMINATED BY THE BOARD OF DIRECTORS OF INNOVATION WORKS, INC. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE CONTROLLER IN DETAIL. A COPY OF FORM 990 IS THEN PROVIDED TO THE ORGANIZATION'S EXECUTIVE AND AUDIT COMMITTEES OF THE BOARD OF DIRECTORS FOR THEIR REVIEW. COMMENTS/QUESTIONS ARE DIRECTED TO THE BOARD CHAIRMAN OR PRESIDENT AND CEO. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION REQUIRES EACH BOARD MEMBER, OFFICER, AND STAFF TO ANNUALLY COMPLETE A CONFLICT OF INTEREST AND FINANCIAL DISCLOSURE FORM AND DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL, OR BUSINESS RELATIONSHIP THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION'S COMPENSATION FOR THE OFFICERS AND KEY POSITIONS IS REVIEWED EVERY TWO YEARS BY AN INDEPENDENT COMPENSATION CONSULTANT. THE COMPENSATION COMMITTEE CONSIDERS THE INFORMATION PROVIDED BY THE COMPENSATION CONSULTANT TO DETERMINE EMPLOYEE COMPENSATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | DIFFERENCE FOR CASH BASIS & ACCRUAL BASIS CONTRIBUTIONS ON LINE 1 -2,316,212. |
| FORM 990, PART III, LINE 4A: | THE COMPANIES SERVED BY IW IMPACT SOUTHWESTERN PENNSYLVANIA IN SEVERAL WAYS: (1) THEY CREATE JOBS; (2) THEY HELP RETAIN KEY REGIONAL TALENT; (3) THEY ATTRACT INVESTMENT DOLLARS AND TALENT TO THE REGION; AND (4) THEY CREATE A SUSTAINABLE COMPETITIVE ADVANTAGE FOR THE REGION'S COMPANIES. INNOVATION INVESTMENT FUND - THE CORE OF THE INNOVATION WORKS MODEL IS THE INNOVATION INVESTMENT FUND, SOUTHWESTERN PENNSYLVANIA'S LEADING SOURCE FOR SEED-STAGE CAPITAL FOR START UP TECHNOLOGY COMPANIES. INNOVATION WORKS HAS DEVELOPED AN EVALUATION PROCESS THAT IS STRUCTURED TO HELP FACILITATE WISE INVESTMENT DECISION-MAKING WITHIN INNOVATION WORKS. THE PROCESS IS DESIGNED TO LEVERAGE THE KNOWLEDGE OF INDUSTRY CONTACTS, STAFF DOMAIN EXPERTS, BOARD MEMBERS, AND MARKET EXPERTS, AS WELL AS TO GATHER THE OPINIONS AND RECOMMENDATIONS OF THE FOLLOW-ON INVESTMENT COMMUNITY. ALPHALAB - AN INTENSIVE PROGRAM FOR LAUNCHING THE NEXT GENERATION OF SOFTWARE, ENTERTAINMENT TECHNOLOGY HARDWARE, AND INTERNET-RELATED COMPANIES. ALPHALAB PROVIDES FUNDING, FREE OFFICE SPACE, AND EXPERTISE TO HELP COMPANIES RAPIDLY DEVELOP THEIR TECHNOLOGY, GAIN EARLY USER FEEDBACK, DEVELOP GO-TO-MARKET STRATEGIES, AND MOVE TOWARD COMMERCIALIZATION. ALPHALAB GEAR - THIS PROGRAM WAS LAUNCHED IN 2013 AS THE HARDWARE ACCELERATOR PROGRAM BASED ON THE ALPHALAB ACCELERATOR MODEL TO SUPPORT PHYSICAL PRODUCT COMPANIES. PROGRAM COMPONENTS INCLUDE THE SAME CORE PROGRAMMING AS ALPHALAB PLUS PRODUCT DESIGN, MANUFACTURING, SUPPLY CHAIN AND RETAIL DISTRIBUTION. ALPHALAB GEAR COMPANIES ALSO BENEFIT FROM BEING A PART OF THE EXTENDED ALPHALAB NETWORK, LEVERAGING THE ALUMNI AND MENTOR NETWORKS, SOFTWARE/INTERNET EXPERTISE BUILT OVER PRIOR ALPHALAB PROGRAM CYCLES. ALPHALAB HEALTH - THIS PROGRAM WAS LAUNCHED IN SEPTEMBER 2020 AS THE HEALTHCARE AND LIFE SCIENCES ACCELERATOR PROGRAM BASED ON THE ALPHALAB AND ALPHALAB GEAR ACCELERATOR MODELS TO SUPPORT HEALTHCARE COMPANIES. PROGRAM COMPONENTS INCLUDE THE SAME CORE PROGRAMMING AS ALPHALAB PLUS DATA COLLECTION, PROOF-OF-CONCEPT TRIALS, CLINICAL TRIALS, REGULATORY STRATEGY, AND REIMBURSEMENT AND REVENUE MODELS. ALPHALAB HEALTH COMPANIES ALSO BENEFIT FROM BEING A PART OF THE EXTENDED ALPHALAB AND ALPHALAB GEAR NETWORKS, LEVERAGING THE ALUMNI AND MENTOR NETWORK. ADDITIONALLY, BENEFITTING FROM THE EXTENDED NETWORK PROVIDED THROUGH THE COLLABORATION WITH ALLEGHENY HEALTH NETWORK. ROBOTICS FACTORY - THE ROBOTICS FACTORY INCLUDES THREE PROGRAMS: THE CREATE PROGRAM WILL DRIVE INNOVATION TO MEET INDUSTRY DEMANDS BY BRINGING ENTREPRENEURS, TECHNOLOGY EXPERTS, AND RESEARCHERS TOGETHER WITH SPECIFIC INDUSTRY EXPERTS TO DEFINE EXISTING AND EMERGING PROBLEMS AND IDENTIFY SOLUTIONS; THE ACCELERATE PROGRAM IS AN OPPORTUNITY FOR UP TO SIX PRE-SEED ROBOTICS STARTUPS EACH YEAR TO RECEIVE FUNDING FROM IW, MENTORSHIP, AND RESOURCES TO TAKE THEIR COMPANY TO THE NEXT STAGE OF GROWTH; AND THE SCALE PROGRAM PROVIDES EXPERTISE IN PRODUCT PROTOTYPING AND SERVICES TO HELP STARTUPS DEVELOP PRODUCTION-READY PRODUCTS. UNIVERSITY GRANTS (UIG) - IW WORKS IN PARTNERSHIP WITH WORLD-RENOWNED UNIVERSITIES IN THE PITTSBURGH REGION TO IDENTIFY AND CULTIVATE RESEARCH IDEAS THAT HAVE VIABLE MARKETS, AND PROVIDE FUNDING TO HELP ACCELERATE COMMERCIALIZATION. INTERNSHIP PROGRAM - THROUGH OUR ONGOING RELATIONSHIPS WITH AREA UNIVERSITIES, IW IDENTIFIES HIGH-CALIBER MBA AND UNDERGRADUATE STUDENTS WHO SHOW HIGH POTENTIAL IN BUSINESS, ENGINEERING AND OTHER IN-DEMAND FIELDS, FOR PLACEMENT AS INTERNS IN REGIONAL TECHNOLOGY START-UPS AND INNOVATIVE MANUFACTURING COMPANIES. INVESTOR DEVELOPMENT - IN THE CURRENT ENVIRONMENT, ASSISTING COMPANIES WITH RAISING CAPITAL IS ONE OF THE MOST IMPORTANT, AND MOST REQUESTED, SERVICE OFFERINGS THAT INNOVATION WORKS PROVIDES. EVERY COMPANY IN THE INNOVATION WORKS PORTFOLIO, REGARDLESS OF INDUSTRY, STAGE OF GROWTH OR EXPERIENCE OF THE ENTREPRENEUR, HAS FUNDRAISING AS A CONSTANT AND NECESSARY PRIORITY. INVESTOR DEVELOPMENT ASSISTS INNOVATION WORKS PORTFOLIO COMPANIES IN ALL ASPECTS OF THEIR FUNDRAISING EFFORTS. FROM 1999 - 2023, IW'S PORTFOLIO COMPANIES AND ACCELERATOR COMPANIES RAISED $3.53B OF FOLLOW-ON INVESTMENT-MOSTLY FROM SOURCES OUTSIDE OUR REGION. PORTFOLIO EXECUTIVES - ONE OF THE KEYS TO INNOVATION WORKS SUCCESS IS ITS APPROACH TO HELPING COMPANIES BY PROVIDING NOT ONLY CAPITAL, BUT ALSO BUSINESS EXPERTISE. INNOVATION WORKS' PORTFOLIO EXECUTIVES ALSO IDENTIFY AND ASSEMBLE THE ESSENTIAL BUSINESS RESOURCES, SKILLS, ADVICE AND INFORMATION THAT ARE NEEDED BY ITS PORTFOLIO COMPANIES BEYOND WHAT IS PROVIDED BY INNOVATION WORKS INTERNAL RESOURCES. THIS IS AN IMPORTANT ELEMENT OF INNOVATION WORKS VALUE PROPOSITION, BECAUSE ALL EARLY STAGE TECHNOLOGY COMPANIES CAN GREATLY IMPROVE THEIR CHANCES OF SUCCESS IF GIVEN ACCESS TO THE RIGHT EXPERTISE AND ASSISTANCE. STARTABLE - A COMMUNITY- AND SCHOOL-BASED PROGRAM THAT TEACHES THE BUILDING BLOCKS OF ENTREPRENEURSHIP AND CULMINATES IN A BUSINESS PITCH COMPETITION. SCALABLE INNOVATION - SCALABLE INNOVATION PROGRAM EXPANDS OPPORTUNITIES FOR BOTH MANUFACTURERS AND STARTUPS AND HELPS THEM OVERCOME INHERENT CHALLENGES IN SCALING THEIR BUSINESSES. THE PROGRAM HELPS REGIONAL STARTUPS BUILD SUPPLY CHAIN PARTNERSHIPS WITH THE LOCAL MANUFACTURING COMMUNITY. THROUGH THE PROGRAM, MANUFACTURERS CAN FIND NEW CUSTOMERS AND MARKETS. AS A STARTUP GROWS AND BECOMES MORE SUCCESSFUL, THEY WILL BECOME A BIGGER CUSTOMER FOR THE LOCAL MANUFACTURERS WITH WHICH THEY WORK. LIKEWISE, STARTUPS BENEFIT FROM THE EXPERTISE OF EXPERIENCED MANUFACTURERS, WHO CAN HELP OVERCOME ENGINEERING, DESIGN AND OTHER TECHNICAL CHALLENGES SO THE STARTUP CAN REACH COMMERCIAL SUCCESS FASTER, CHEAPER AND MORE RELIABLY. THE SCALABLE INNOVATION PROGRAM HELPS MAKE THE CONNECTIONS AND PROCESSES WORK SMOOTHLY SO BOTH STARTUPS AND THEIR SUPPLIERS BENEFIT. INNOVATION ADOPTION PROGRAM (IAP) - IW PROVIDES FUNDING AND CONNECTS SMALL MANUFACTURERS WITH THE REGION'S CENTERS OF EXCELLENCE TO HELP THEM IMPROVE PRODUCT AND PROCESS ENGINEERING FOR COMPETITIVE ADVANTAGE. EARLY STAGE TECHNOLOGY ASSISTANCE PROGRAM (ETAP) - SIMILAR TO THE UIG PROGRAM, BUT OUTSIDE OF THE UNIVERSITY CONTEXT, IW'S ETAP PROGRAM ATTEMPTS TO ANSWER FUNDAMENTAL QUESTIONS REGARDING THE COMMERCIAL POTENTIAL OF FORMATION-STAGE COMPANIES THAT HAVE REQUESTED ASSISTANCE FROM IW. THROUGH ETAP FUNDING, IW PROVIDES COMPANIES WITH DIRECT INVESTMENT OF UP TO $50,000 AND OFTEN LINKS THE COMPANY WITH A CONSULTANT OR INDUSTRY EXPERT TO ASSIST THE COMPANY IN ANSWERING FUNDAMENTAL BUSINESS QUESTIONS EARLY IN THE LIFE CYCLE, THEREBY ACCELERATING THE COMPANY'S DEVELOPMENT. UPPRIZE - INNOVATION WORKS ASSUMED THE ADMINISTRATION OF THE BNY MELLON UPPRIZE SOCIAL IMPACT CHALLENGE IN 2019. THE UPPRIZE COMPETITION WAS DESIGNED TO IDENTIFY PROMISING TECHNOLOGICAL SOLUTIONS FOR ISSUES AFFECTING MARGINALIZED POPULATIONS AND/OR NON-PROFIT ORGANIZATIONS IN SOUTHWESTERN PA. IN 2013, INNOVATION WORKS, INC. FORMED IW MANAGEMENT COMPANY, LLC FOR THE PURPOSE OF MANAGING RIVERFRONT VENTURES, LLC, A FOR-PROFIT VENTURE CAPITAL FUND WITH COMMITMENTS OF $23.7 MILLION. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| MPC CORPORATION | ||||||||||
| 5000 FORBES AVENUE | PITTSBURGH | PA | 152133890 | 251128244 | RESEARCH AND DEVELOPMENT | PA | 501(C)(3) | 11A - TYPE 1 | N/A | 0 |
| BEN FRANKLIN TECHNOLOGY PARTNERS CORP | ||||||||||
| 116 RESEARCH DRIVE | BETHLEHEM | PA | 180153715 | 201326433 | ECONOMIC DEVELOPMENT | PA | 501(C)(3) | 509(A)(3) | N/A | 0 |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVERFRONT VENTURES LLC | |||||||||||||
| TWO ALLEGHENY CENTER NO 100 | PITTSBURGH | PA | 15212 | 462587754 | VENTURE FUND - INVESTMENTS IN EARLY STAGE TECH COMPANIES | PA | IW MANAGEMENT COMPANY LLC | RELATED | $370,085 | $4,728,128 | 0 | 0 | 0.61610 |
| RIVERFRONT VENTURES II LLC | |||||||||||||
| TWO ALLEGHENY CENTER NO 100 | PITTSBURGH | PA | 15212 | 852568830 | VENTURE FUND - INVESTMENTS IN EARLY STAGE TECH COMPANIES | PA | IW MANAGEMENT COMPANY II LLC | RELATED | $407,472 | 0 | 0 | 0.99170 | |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IW MANAGEMENT COMPANY LLC | ||||||||||||
| TWO ALLEGHENY CENTER NO 100 | PITTSBURGH | PA | 15212 | 462574317 | MANAGE RELATED ENTITY, RIVERFRONT VENTURES, LLC | PA | INNOVATION WORKS INC | C | $111,991 | $1,309,630 | 1.00000 | Yes (1) |
| IW MANAGEMENT COMPANY II LLC | ||||||||||||
| TWO ALLEGHENY CENTER NO 100 | PITTSBURGH | PA | 15212 | 852552038 | MANAGE RELATED ENTITY, RIVERFRONT VENTURES II, LLC | PA | INNOVATION WORKS INC | C | $196,000 | $227,755 | 1.00000 | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| IW MANAGEMENT COMPANY LLC | ||
| R | $21,000 | ACTUAL CASH |
| RIVERFRONT VENTURES LLC | ||
| R | $714,085 | ACTUAL CASH |
| RIVERFRONT VENTURES II LLC | ||
| R | $466,000 | ACTUAL CASH |
| IW MANAGEMENT COMPANY II LLC | ||
| R | $5,000 | ACTUAL CASH |