North Carolina Center of Innovation Network

Nonprofit profile at a glance

EIN
270538783
IRS 990-EZ coverage
2018–2018
Forms available
Form 990 2017, Form 990-EZ 2018
Location
Greensboro, NC, USA
Phone
3363759232
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$14,183
Expenses
$21,166
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • JOHN HARDIN (PRESIDENT)

People named in this filing

  • JOHN HARDIN (PRESIDENT)
  • GINGER ROTHROCK (BOARD DIRECTOR)
  • JOHN MERRILL (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The North Carolina center of innovation network (nc coin) serves as a virtual center of innovation for businesses, researchers, entrepreneurs, students and institutions. Nc coin provides relevant resources to its constituents and members and brings people together in open forums, educational seminars, and unique conversations, with a focus on promoting economic development.

What it reported doing in 2018

Develop a portfolio of high value innovation projects in coin's focus areas that result in commercial transactions and enable coin to become self-sustaining: - establish collaborations with nc universities to open doors for industry to gain access to researchers and resident research and "ip" (intellectual property) and to enable coin to "outsource" services. - develop partnerships with companies and establish relationships with product developers, marketing, business development, and business managers to learn about and document market wants and needs and to promote coin's model. - build relationships/agreements with companies and universities that enable the creation of a commercialization pipeline built on university research. - seek funding in support of projects from public and private sources.

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Sustainability: 13
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.6%; rating input score 69
  • Program expense ratio: 46%; rating input score 46

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -49.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -22.6% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -27.4% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 68.6% of revenue deployed · 46% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $10K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 46/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.