F3 Innovate
Nonprofit profile at a glance
- EIN
- 933027241
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-N 2023
- Location
- Fresno, CA, USA
- Phone
- 5597101603
- Rating
- 54
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Support N.E.C.
Reported finances
- Revenue
- $869,011
- Expenses
- $773,317
- Assets
- $4,617,689
- Liabilities
- $4,617,810
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- Priscilla Koepke (CEO)
Highest reported compensation
- Priscilla Koepke (CEO): $113,269 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The primary objectives and purposes of this Corporation shall include, but shall not be limited to, advancing the educational, scientific, and economic development goals of the Fresno-Merced Future of Food (F3) Innovation Initiative to facilitate, through various means, research and development in climate-smart food and agricultural technology in order to lessen the burden of state and local government partners and improve the quality of life in Central Valley communities.
What it reported doing in 2024
F3 Innovate is a system of three strategic pillars Talent Programs, Commercialization Engine, and Catalyst Fund supporting agriculture in Californias Central Valley by building the workforce for the next generation of secure food production, driving adoption of agricultural innovation across farms of all sizes, and deploying purpose-built capital to scale proven solutions at industry scale.
Operating model
- Revenue model
- Grant-funded. 89% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 32
- Transparency & Controls: 81
- Accountability: 69
- Sustainability: 59
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 25.4%; rating input score 25
- Program expense ratio: 28.5%; rating input score 29
- Fundraising efficiency: $43.89 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 8 controls in place; rating input score 25
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 11%; rating input score 63; 63rd percentile among comparable filings
- Total-asset coverage ratio: 5.97; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 14.6%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 25.4% of revenue deployed · 28.5% of spending went to programs
- Governance: 13 of 13 board members independent · 2 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $221K in reported program spending
- Leadership: top reported pay $113K · 14 people listed
- Consistency: 20 of 21 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 25/100.
- High — Financial Efficiency: Program expense ratio scored 29/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 24/100.