The Inovo Institute

Nonprofit profile at a glance

EIN
203817996
IRS 990-EZ coverage
2010–2013
Forms available
Form 990-EZ 2013
Location
Ann Arbor, MI, USA
Phone
7342132100
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$50,805
Expenses
$81,102
Assets
$1,603

Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • LORENZ A SCHMITT (PRESIDENT)

People named in this filing

  • LORENZ A SCHMITT (PRESIDENT)
  • STEVEN R SCHWARTZ (SECRETARY)
  • TIMOTHY L FALEY (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 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To advance economic prosperity and social well-being through education, research, development and the promotion of innovation in all endeavors - for individuals, organizations and the greater community.

What it reported doing in 2013

Providing critical knowledge, tools, processes and community resources that allows innovation to flourish.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Sustainability: 6
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.6%; rating input score 98

Transparency & Controls

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

Sustainability

  • Operating margin: -59.6%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 351.4%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 32.9% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 51st percentile among comparable filings
  • Asset growth: -37.4% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2010 to 2013
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 10/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.