Missouri Innovation Corporation
- Assets
- $84.9k
- Revenue
- $18.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Cape Girardeau, MO
- Founding
- 01/2006
- Data as of
- 06/2021
- EIN
- 42-1612788
Organization Overview
Missouri Innovation Corporation is located in Cape Girardeau, MO. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Missouri Innovation Corporation 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 06/2021, Missouri Innovation Corporation generated $18.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.2%) each year. All expenses for the organization totaled $24.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (34.4%) per year over the past 6 years. 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
THE MISSOURI INNOVATION CORPORATION (MIC) IS A NONPROFIT, 501(C)(3) CORPORATION THAT OPERATES UNDER THE AUSPICES OF SOUTHEAST MISSOURI STATE UNIVERSITY AND SUPPORTS THE MISSION AND ACTIVITIES OF THE DOUGLAS C. GREENE CENTER FOR INNOVATION AND ENTREPRENEURSHIP. THE MIC ESTABLISHED THE SOUTHEAST INNOVATION CENTER IN 2005 TO DEVELOP, GROW AND RETAIN NEW BUSINESSES THAT WILL INCREASE THE NUMBER AND QUALITY OF JOBS IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISSOURI TECHNOLOGY CORPORATION GRANT - PROVIDE BUSINESS CONSULTING AND DEVELOPMENT SERVICES TO INDIVIDUALS AND BUSINESS ORGANIZATIONS IN MISSOURI DURING THE EARLY STAGES OF DEVELOPMENT OF TECHNOLOGY-FOCUSED BUSINESS VENTURES.
IRP LOANS: THE PURPOSE OF THE IRP PROGRAM IS TO ALLEVIATE POVERTY AND INCREASE ECONOMIC ACTIVITY AND EMPLOYMENT IN RURAL COMMUNITIES. UNDER THE IRP PROGRAM, LOANS ARE PROVIDED TO LOCAL ORGANIZATIONS (INTERMEDIARIES) FOR THE ESTABLISHMENT OF REVOLVING LOAN FUNDS. THESE REVOLVING LOAN FUNDS ARE USED TO ASSIST WITH FINANCING BUSINESS AND ECONOMIC DEVELOPMENT ACTIVITY TO CREATE OR RETAIN JOBS IN DISADVANTAGED AND REMOTE COMMUNITIES.
THE RURAL MICRO-ENTREPRENEUR ASSISTANCE PROGRAM PROVIDES RURAL AREAS ACCESS TO CAPITAL TO DEVELOP SMALL BUSINESS OPPORTUNITIES AND CREATE JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Ferguson II Chairman | OfficerTrustee | 0.1 | $0 |
Jim Grebing Vice Chairman | OfficerTrustee | 0.1 | $0 |
Crystal Kaufman Secretary | Officer | 1 | $0 |
Kathy Mangels Past Treasurer | Officer | 5 | $0 |
Carlos Vargas-Aburto CEO | Officer | 3 | $0 |
Brad Sheriff Current Treasurer | Officer | 5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $18,586 |
| Investment income | $0 |
| 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 | $18,586 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $10,012 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,841 |
| Advertising and promotion | $0 |
| Office expenses | $135 |
| Information technology | $2,143 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,972 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $720 |
| Insurance | $2,812 |
| All other expenses | $0 |
| Total functional expenses | $24,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,512 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,316 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,945 |
| Net Land, buildings, and equipment | $1,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $84,934 |
| Accounts payable and accrued expenses | $13,558 |
| 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 | $22,535 |
| Other liabilities | $0 |
| Total liabilities | $36,093 |
| Net assets without donor restrictions | $15,858 |
| Net assets with donor restrictions | $32,983 |
| 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 | $84,934 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Missouri Innovation Corporation has recieved totaling $12,154.
| Awarding Organization | Amount |
|---|---|
Missouri Corporation For Science And Technology Jefferson City, MO PURPOSE: MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATOIN CENTER IN CAPE GIRARDEAU, MO TO PROVIDE DEVELOPMENT ASSISTANCE TO SMALL TECHNOLOGY COMPANIES. | $12,154 |
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Auxiliary Services Foundation Memphis, TN | $24,476,321 | $9,276,607 |
William Rainey Harper College Educational Foundation Palatine, IL | $50,154,930 | $4,699,112 |
College Heights Foundation Inc Bowling Green, KY | $121,076,020 | $12,280,275 |
Northern Kentucky University Foundation Inc Highland Heights, KY | $152,385,239 | $8,696,843 |
Rochelle Zell Jewish High School Deerfield, IL | $17,970,776 | $8,473,073 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Pittsburg State University Foundation Inc Pittsburg, KS | $127,952,768 | $13,650,196 |
Western Kentucky University Foundation Bowling Green, KY | $138,269,164 | $12,431,849 |
East Tennessee State University Foundation Johnson City, TN | $138,793,222 | $16,207,692 |
University Of Central Missouri Foundation Warrensburg, MO | $77,602,876 | $17,903,644 |