Innovation Collaborative Inc

Nonprofit profile at a glance

EIN
471501676
IRS 990 coverage
2014–2019
Forms available
Form 990 2019, Form 990-N 2019
Location
Erie, PA, USA
Phone
8144905295
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$16,510
Expenses
$77,099
Assets
$2,354
Liabilities
$142

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • BETH ZIMMER (MANAGING DIRECTOR): $52,800 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Facilitating, measuring and communicating outcomes for the improvement of northwestern Pennsylvania's entrepreneurial eco-system.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.1%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 3 of 8 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: -367%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 68.5%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -4% per year; rating input score 0; 45th percentile among comparable filings
  • Revenue growth: -31.7% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -41.9% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $65K in reported program spending
  • Leadership: top reported pay $53K · 9 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2014 to 2019
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.