Innovation Hub Foundation

Nonprofit profile at a glance

EIN
920903687
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Provo, UT, USA
Phone
8013550105
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$1,069,184
Expenses
$843,102
Assets
$256,231
Liabilities
$30,149

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Corbin B Church (CEO)

Highest reported compensation

  • Corbin B Church (CEO): $144,000 total reported compensation
  • Kara Church: $72,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To facilitate and promote an environment that spurs inniovation for entrepreneurs.

What it reported doing in 2024

200 Startups Engaged: From first-time founders to serial entrepreneurs, iHub has supported over 200 early-stage companies through programming, community connections, and mentorship. 300 Active Mentors: Utahs top business leaders, investors, and operators have come together to guide and grow the next generation of startups, donating time, insight, and support. Strategic Location in Provo: Positioned between BYU and UVU, iHub serves as a centralized innovation district for founders to learn, connect, and launch. Founders in Residence Program: A unique, low-barrier initiative where entrepreneurs receive workspace, personalized coaching, and access to capital connectionsall at no cost. Free Programming & Workshops: Dozens of educational events, pitch competitions, and accelerator sessions have equipped founders with tools to build sustainable businesses. Community Over Competition: iHub has fostered a culture where founders, funders, and facili

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 86
  • Accountability: 21
  • Sustainability: 46
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.9%; rating input score 79
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.3; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 78.9% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $843K in reported program spending
  • Leadership: top reported pay $144K · 4 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.