Northwest Innovation Resource Center
- Assets
- $288.0k
- Revenue
- $250.7k
- Investments
- $64.0
- Employees
- 1
- Location
- Bellingham, WA
- Founding
- 12/2010
- Data as of
- 12/2021
- EIN
- 27-3156063
Organization Overview
Northwest Innovation Resource Center is located in Bellingham, WA. The organization was established in 2010. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Innovation Resource Center 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 12/2021, Northwest Innovation Resource Center generated $250.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $305.2k during the year ending 12/2021. While expenses have increased by 13.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NWIRC IS DEDICATED TO CREATING ECONOMIC OPPORTUNITY AND JOBS THROUGH INNOVATION. THE NWIRC ACCELERATES EARLY-STAGE STARTUP COMPANIES AND THEIR RATE OF SUCCESS THROUGH MENTORSHIP, RESOURCES, AND ACCOUNTABILITY. THOUGH THE NWIRC PROVIDES ASSISTANCE TO ALL EARLY-STAGE STARTUP COMPANIES, THEY HAVE PARTICULAR FOCUS ON THE RENEWABLE RESOURCE TECHNOLOGIES AND PRODUCT INVENTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. DEVELOPED AN EXTENSIVE DATA PROGRAM BEGINNING WITH PILOT OF WORKSHOP TO ASSIST ENTREPRENEURS AND SMALL BUSINESS LEADERS TO UTILIZE DATA ANALYTICS FOR OPERATIONAL EFFICIENCIES AND STRATEGIC DIRECTION. 2. CONDUCTED INITIAL BLUETECH/CLEANTECH INNOVATION COHORT TO ASSIST ENTREPRENEURS WITH IDEAS IN THE AREA OF MARITIME OR CLEANTECH VALIDATE THEIR IDEAS AND MOVE FORWARD TO ESTABLISH THEIR BUSINESS. 3. PROGRESSED WITH PLANNING FOR NETWORK OF INNOVATION CENTERS BETWEEN SEATTLE AND BC BORDER. 4. COMPLETED DESIGN THINKING WORKSHOP FOR TAMBARK CREEK ELEMENTARY SCHOOL TO CREATE STRATEGY FOR STEM PROGRAM. 5. CONTINUED SUPPORT OF ENTREPRENEURS IN THE 5 COUNTY REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Buchan Vice Chair | OfficerTrustee | $0 | |
Tom Doughty Chair | OfficerTrustee | $0 | |
Ken Marzocco Secretary/tr | OfficerTrustee | $0 | |
Debbie Ahl Past Chair | OfficerTrustee | $0 | |
Diane Kamionka Executive Di | Officer | $0 | |
Grace Borsari Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $105,436 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,234 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $247,670 |
| Total Program Service Revenue | $1,700 |
| Investment income | $1,295 |
| 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 | $250,665 |
| 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 | $90,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,418 |
| Payroll taxes | $7,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,588 |
| Advertising and promotion | $7,091 |
| Office expenses | $2,212 |
| Information technology | $5,517 |
| Royalties | $0 |
| Occupancy | $47,852 |
| Travel | $404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,424 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,552 |
| Insurance | $2,373 |
| All other expenses | $965 |
| Total functional expenses | $305,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,287 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,250 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $131,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,018 |
| Net Land, buildings, and equipment | $3,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $64 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,253 |
| Total assets | $288,013 |
| Accounts payable and accrued expenses | $78,132 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $167,500 |
| Other liabilities | $4,177 |
| Total liabilities | $249,809 |
| Net assets without donor restrictions | $38,204 |
| 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 | $288,013 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Northwest Innovation Resource Center has recieved totaling $75,059.
| Awarding Organization | Amount |
|---|---|
Becu Foundation Tukwila, WA PURPOSE: MOMENTUM GRANTS | $50,000 |
Credit Unions In The State Of Washington Tukwila, WA PURPOSE: DONATION | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $59 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norton Sound Economic Development Corporation Anchorage, AK | $393,228,467 | $59,416,266 |
Bristol Bay Economic Development Corporation Dillingham, AK | $306,219,768 | $32,445,568 |
Juneau Economic Development Council Juneau, AK | $7,391,243 | $19,704,575 |
Alaska Cabaret Hotel Restaurant & Retailers Association Anchorage, AK | $1,951,463 | $11,915,981 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Bend Visitor & Convention Bureau Bend, OR | $2,809,916 | $4,392,853 |
Visit Spokane Spokane, WA | $4,256,594 | $5,130,887 |
Spruce Root Inc Juneau, AK | $2,965,503 | $3,464,933 |
Angels For Angels Seattle, WA | $2,495,465 | $5,448,539 |
Columbia Pacific Economic Development District Of Oregon St Helens, OR | $1,194,782 | $2,960,651 |
Koyuk Native Store Koyuk, AK | $1,287,215 | $2,898,870 |