Innovate Pgh Partnership
- Assets
- $1.7m
- Revenue
- $719.2k
- Investments
- $0.0
- Employees
- 12
- Location
- Pittsburgh, PA
- Founding
- 07/2012
- Data as of
- 12/2022
- EIN
- 27-1727604
Organization Overview
Innovate Pgh Partnership, operating under the name Avenu & Pgh Innovation District, is located in Pittsburgh, PA. The organization was established in 2012. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Avenu & Pgh Innovation District employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avenu & Pgh Innovation District 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 12/2022, Avenu & Pgh Innovation District generated $719.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 23.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A NEXT GENERATION PUBLIC-PRIVATE PARTNERSHIP - POWERED BY A COALITION OF CIVIC INSTITUTIONS REPRESENTING THE REGION'S UNIVERSITY, BUSINESS, PHILANTHROPIC, AND GOVERNMENT LEADERSHIP - TO ACCELERATE PITTSBURGH'S STATUS AS A GLOBAL INNOVATION CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE INCLUSIVE INNOVATION, RESPONSIBLE NEIGHBORHOOD REVITALIZATION, AND A BROAD-BASED, ENTREPRENEURIAL CULTURE IN PITTSBURGH. IMPLEMENT RECOMMENDATIONS FROM THE 2017, "CAPTURING THE NEXT ECONOMY: PITTSBURGH'S RISE AS A GLOBAL INNOVATION CITY", DEFINE, GROW, AND CONNECT THE PITTSBURGH INNOVATION DISTRICT AND MANAGE THE AVENU WORKSPACES CO-WORKING PLATFORM. IMPROVE THE PIPELINE OF HIGH-GROWTH ENTREPRENEURS. BUILD AND SUPPORT PITTSBURGH'S INNOVATION CLUSTERS. INTENTIONALLY CONECT STARTUP AND INNOVATION ECOSYSTEM PROGRAMMING TO EORKFORCE/UPSKILLING OPPORTUNITIES, NARRATIVE SHIFTING, AND NETWROK DEVELOPMENT EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Evan Facher Chairman | OfficerTrustee | 1 | $0 |
Rick Siger Vice Chairman | OfficerTrustee | 1 | $0 |
Joel Reed Board Member | Trustee | 1 | $0 |
Diamonte Walker Board Member | Trustee | 1 | $0 |
Christine Rogers-Raetsch Board Member | Trustee | 1 | $0 |
Eliza Swan Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Agora Planning Consulting | 12/30/18 | $144,000 |
Tad Hale Transition Lead | 12/30/18 | $104,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,829 |
| All other contributions, gifts, grants, and similar amounts not included above | $406,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $433,473 |
| Total Program Service Revenue | $283,259 |
| Investment income | $184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $719,178 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,623 |
| 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. | $155,009 |
| Compensation of current officers, directors, key employees. | $19,376 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $472,406 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,834 |
| Payroll taxes | $42,876 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $359,990 |
| Advertising and promotion | $22,503 |
| Office expenses | $39,924 |
| Information technology | $18,214 |
| Royalties | $0 |
| Occupancy | $239,615 |
| Travel | $33,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,210 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,245 |
| Insurance | $1,767 |
| All other expenses | $20,130 |
| Total functional expenses | $1,758,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,206 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $772,474 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $374,852 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $328,154 |
| Total assets | $1,715,686 |
| Accounts payable and accrued expenses | $78,127 |
| Grants payable | $0 |
| Deferred revenue | $11,250 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $334,292 |
| Total liabilities | $423,669 |
| Net assets without donor restrictions | $383,223 |
| Net assets with donor restrictions | $908,794 |
| 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 | $1,715,686 |
Grants Awarded
Over the last fiscal year, Innovate Pgh Partnership has awarded $62,623 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OAKLAND BUSINESS IMPROVEMENT DISTRICT PURPOSE: ARGYLE STUDIO MATCH CONTRIBUTION | $10,000 |
POISE FOUNDATION PURPOSE: BLACK TECH NATION PROGRAM SUPPORT | $52,623 |