Missouri Innovation Center Inc
- Assets
- $915.9k
- Revenue
- $657.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, MO
- Founding
- 03/1986
- Data as of
- 06/2021
- EIN
- 43-1350262
Organization Overview
Missouri Innovation Center Inc is located in Columbia, MO. The organization was established in 1986. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Missouri Innovation Center 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 06/2021, Missouri Innovation Center Inc generated $657.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $700.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CHAMPION ENTREPRENEURSHIP IN ORDER TO BRING WEALTH AND JOBS TO THE COMMUNITY AND STATE
Describe the Organization's Program Activity:
VENTURE DEVELOPMENT AND SERVICE OUTPUT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Turpin President & CEO | 30 | $29,750 | |
David Keller Chairman | OfficerTrustee | 1 | $0 |
Mark Gingrich Treasurer | OfficerTrustee | 1 | $0 |
Jeff Lashley Vice Chair/ Sec | OfficerTrustee | 1 | $0 |
Eugene Gerke Director | Trustee | 1 | $0 |
Brant Bukowsky Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,670 |
| Investment income | $1,283 |
| 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 | $657,090 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $291,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,907 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,641 |
| Office expenses | $83,408 |
| Information technology | $3,051 |
| Royalties | $0 |
| Occupancy | $236,265 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,550 |
| All other expenses | $0 |
| Total functional expenses | $700,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $884,955 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,004 |
| 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 | $8,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,760 |
| Total assets | $915,936 |
| Accounts payable and accrued expenses | $70,437 |
| 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 | $61,000 |
| Other liabilities | $56,899 |
| Total liabilities | $188,336 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $727,600 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Missouri Innovation Center Inc has recieved totaling $159,860.
| Awarding Organization | Amount |
|---|---|
Missouri Corporation For Science And Technology Jefferson City, MO PURPOSE: MTC GRANTED FUNDING FOR THE OPERATION OF AN INNOVATION CENTER IN COLUMBIA, MO | $159,860 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
Dairy Promotion Inc Kansas City, KS | $585,537 | $75,669,129 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |
Apics Inc Chicago, IL | $42,029,595 | $30,789,675 |