Northeast Indiana Innovation Center Inc

Nonprofit profile at a glance

EIN
352097779
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Fort Wayne, IN, USA
Phone
2604076442
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,515,078
Expenses
$2,463,937
Assets
$8,291,411
Liabilities
$739,212

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

Leadership & pay

21 people listed

Executive titles in this filing

  • MIKE FRITSCH (PRESIDENT)
  • TOM KILCOYNE (CEO)

Highest reported compensation

  • MIKE FRITSCH (PRESIDENT): $202,368 total reported compensation

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

Overview

Mission

We are a comprehensive entrepreneurial center whose mission is putting business growth, innovation and entrepreneurship to work for northeast Indiana

What it reported doing in 2024

The northeast Indiana innovation center (niic) is a nationally recognized best in class and comprehensive entrepreneurship resource center dedicated to accelerating the growth and development of innovative businesses and increasing the likelihood of their success. For over 24 years, the niic has fostered an entrepreneurial community that aligns and leverages the four pillars of venture success - capital, talent, workspace and networks. Today, with many knowlegdable workers on our innovation park campus, and with programs throughout northeast Indiana, the niic is the region's largest and most diverse entrepreneurial ecosystem.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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: 83
  • Transparency & Controls: 79
  • Accountability: 94
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: $5.81 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • 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: 89.5%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -62.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 3.37; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.2% of spending went to programs
  • Governance: 17 of 19 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $202K · 21 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 9 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 21/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.