Miami-Dade Innovation Authority
Legal name: Miami-dade Innovation Authority Inc
Nonprofit profile at a glance
- EIN
- 884268165
- IRS 990 coverage
- 2023–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2022
- Location
- Miami, FL, USA
- Phone
- 7865511238
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Science and Technology N.E.C.
Reported finances
- Revenue
- $193,502
- Expenses
- $1,270,341
- Assets
- $7,021,965
- Liabilities
- $55,384
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- LEIGH-ANN BUCHANAN (PRESIDENT)
Highest reported compensation
- LEIGH-ANN BUCHANAN (PRESIDENT): $254,850 total reported compensation
- CONNIE DIANNE LEWIN (MANAGING DIRECTOR): $167,138 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to scale innovative solutions for people most affected by critical public challenges, improve economic and social outcomes, and make Miami-Dade County a world class capital for high growth technology companies.
What it reported doing in 2024
The public innovation challenge is a competitive open call designed to de-risk capital investment in startups with market ready solutions that address pressing local issues.through partnerships with regional economic engines, we create a continuous flywheel that accelerates the pace of discovery and commercialization of technology within the public sector.structured around a strategic investment to defray the cost of a product or solution pilot test, it helps clear the pathway to revenue and growth for winning companies.
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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 84
- Accountability: 100
- Sustainability: 30
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 83.9%; rating input score 84
- Fundraising efficiency: $8.66 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -556.5%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 5.53; rating input score 81; 81st percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
- Officer compensation ratio: 33.2%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 55% per year; rating input score 100; 96th percentile among comparable filings
- Revenue growth: -191.4% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: -14.2% per year; rating input score 0; 4th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 100% of revenue deployed · 83.9% of spending went to programs
- Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.1M in reported program spending
- Leadership: top reported pay $255K · 12 people listed · 4 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 2 filing years from 2023 to 2024
- 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.
- Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
- High — Sustainability: Operating margin scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 9/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 47/100.