Innovative Industries Inc
- Assets
- $2.4m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 168
- Location
- Creston, IA
- Founding
- 04/1969
- Data as of
- 06/2023
- EIN
- 23-7023634
Organization Overview
Innovative Industries Inc is located in Creston, IA. The organization was established in 1969. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2023, Innovative Industries Inc employed 168 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Industries Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Innovative Industries Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $4.7m during the year ending 06/2023. While expenses have increased by 3.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST PERSONS WITH DISABILITIES TO IDENTIFY, DEVELOP AND ACHIEVE THEIR INDIVIDUAL LIFE GOALS BY PROVIDING VOCATIONAL AND COMMUNITY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ASSIST PERSONS WITH DISABILITIES TO IDENTIFY DEVELOP AND ACHIEVE THEIR INDIVIDUAL LIFE GOALS BY PROVIDING VACATIONAL AND COMMUNITY SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Baier Member | Trustee | 1 | $0 |
Dena Chapman President | OfficerTrustee | 1 | $0 |
Barb Coenen Secretary | OfficerTrustee | 1 | $0 |
Margy Gammell Member | Trustee | 1 | $0 |
Dennis Hopkins Member | Trustee | 1 | $0 |
Jean Kinyon Vice Preside | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,853 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,853 |
| Total Program Service Revenue | $4,737,434 |
| Investment income | $2,889 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,860,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,612,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $485,113 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $444,722 |
| Advertising and promotion | $7,364 |
| Office expenses | $16,865 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $258,302 |
| Travel | $86,787 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,210 |
| Interest | $3,876 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,972 |
| Insurance | $55,012 |
| All other expenses | $32,896 |
| Total functional expenses | $4,683,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,208,997 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $377,313 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $90,605 |
| Prepaid expenses and deferred charges | $56,706 |
| Net Land, buildings, and equipment | $103,532 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $586,382 |
| Other assets | $0 |
| Total assets | $2,423,535 |
| Accounts payable and accrued expenses | $709,059 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $131,495 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $586,382 |
| Total liabilities | $1,426,936 |
| Net assets without donor restrictions | $996,599 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,423,535 |