Innovation Center of the Rockies Fka Boulder Innovation Center

Nonprofit profile at a glance

EIN
202159989
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Boulder, CO, USA
Phone
3034442211
Rating confidence
Limited

Official website

Reported finances

Revenue
$233,469
Expenses
$241,646
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • TIM BOUR (EXECUTIVE DIRECTOR (THRU 6/16))
  • ERIC GRICUS (EXECUTIVE DIRECTOR (FROM 7/16))

Highest reported compensation

  • ERIC GRICUS (EXECUTIVE DIRECTOR (FROM 7/16)): $94,000 total reported compensation
  • TIM BOUR (EXECUTIVE DIRECTOR (THRU 6/16)): $46,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Innovation center of the rockies (icr) is one of america's premier entrepreneurial support organizations. With its highly specialized team of mentors and advisors, icr defines a new model for business incubation across key industry sectors holding the most promise for the community, global economies and the environment. Icr blends the resources of business and academia to optimize opportunities for the technologies and companies of the future.

What it reported doing in 2016

The innovation center of the rockies (icr) is a non-profit, virtual incubator that concentrates on supporting high growth start-ups, new company creation and commercialization strategies for technology generated from university research. The icr's university commercialization effort has worked with ~300 research teams resulting in 88+ commercial outcomes and 20 start-ups based on university intellectual property being formed and/or materially assisted. Our current university partners and clients include; the university of Colorado, Colorado school of mines and Colorado state university. The icr program helping early stage companies has touched 1,000+ start-ups and has worked with 110+ companies directly as icr clients. Since 2006, these efforts have resulted in the creation of 623 jobs and innovation center of the rockies clients have attracted $100+ million in new capital boosting economic activity.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 16
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -3.5%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 57.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.5% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -22.1% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $94K · 10 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.