Innovators Network Foundation

Nonprofit profile at a glance

EIN
271413020
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2023312130
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$986,338
Expenses
$1,389,078
Assets
$585,809
Liabilities
$175,251

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MORGAN REED (President)
  • CHELSEA THOMAS (Executive Director)

Highest reported compensation

  • MORGAN REED (President): $745,936 total reported compensation
  • CHELSEA THOMAS (Executive Director): $479,158 total reported compensation
  • RENE ADAM (CFO): $408,905 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 support the creation and advancement of high-growth innovative technology and research

What it reported doing in 2024

Competition/Anti-Trust -

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 32
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -40.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 31.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 9.7% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 36% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $746K · 4 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.