Institute For Local Innovations Inc is located in New Orleans, LA. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Institute For Local Innovations 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 12/2022, Institute For Local Innovations Inc generated $442.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $442.6k during the year ending 12/2022. While expenses have increased by 8.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE INSTITUTE FOR LOCAL INNOVATIONS ILI IS TO FOSTER AND PROMOTE INNOVATIVE SOLUTIONS AT THE LOCAL LEVEL TO ADDRESS VARIOUS SOCIAL ECONOMIC AND ENVIRONMENTAL CHALLENGES WITHIN COMMUNITIES. ILI AIMS TO EMPOWER LOCAL LEADERS ORGANIZATIONS AND INDIVIDUALS BY PROVIDING THE NECESSARY TOOLS RESOURCES AND SUPPORT TO DEVELOP AND IMPLEMENT EFFECTIVE AND SUSTAINABLE SOLUTIONS. ILI FACILITATES COLLABORATION AND KNOWLEDGE SHARING AMONG STAKEHOLDERS INCLUDING NON-PROFIT ORGANIZATIONS BUSINESSES PHILANTHROPY AND COMMUNITY MEMBERS. ILI'S WORK INVOLVES CONDUCTING RESEARCH ORGANIZING WORKSHOPS AND TRAINING PROGRAMS PROVIDING TECHNICAL ASSISTANCE AND CAPACITY BUILDING AND FACILITATING NETWORKS AND PARTNERSHIPS. ILI AIMS TO ENABLE COMMUNITIES TO TACKLE VARIOUS ISSUES SUCH AS POVERTY INEQUALITY CLIMATE CHANGE URBAN DEVELOPMENT EDUCATION AND PUBLIC HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE FOR LOCAL INNOVATIONS ILI HAS MADE REMARKABLE STRIDES IN EMPOWERING WOMEN-LED NOT-FOR-PROFIT ORGANIZATIONS THROUGH ITS ROBUST CAPACITY-BUILDING INITIATIVES. ILI HAS CONSISTENTLY SUPPORTED THESE ORGANIZATIONS BY PROVIDING COMPREHENSIVE TRAINING PROGRAMS MENTORING AND RESOURCES TAILORED TO THEIR NEEDS. BY ENHANCING THEIR STRATEGIC PLANNING PROJECT MANAGEMENT FUNDRAISING AND LEADERSHIP SKILLS ILI HAS EFFECTIVELY ENABLED THESE WOMEN LEADERS TO ADDRESS SOCIAL AND COMMUNITY CHALLENGES. THROUGH ITS COMMITMENT TO FOSTERING GENDER EQUALITY AND INCLUSIVE DEVELOPMENT ILI HAS CREATED A SUPPORTIVE ECOSYSTEM FOR WOMEN LEADERS FOSTERING COLLABORATION NETWORKING AND KNOWLEDGE SHARING. AS A RESULT WOMEN-LED NOT-FOR-PROFIT ORGANIZATIONS HAVE SIGNIFICANTLY IMPACTED LIVES AND CREATED SUSTAINABLE CHANGE IN THEIR COMMUNITIES.
ILI SUPPORTED THE NEXT GENERATION AND SEASONED STEM ENTREPRENEURS IN COLLABORATION WITH THE VA RESEARCH TECH CENTER AND THE NASA T2X PROGRAM. ILI HAS OFFERED A COMPREHENSIVE RANGE OF RESOURCES THROUGH ITS INITIATIVES INCLUDING MENTORSHIP AND LOGISTICAL SUPPORT FOR 30 COHORT MEMBERS. WE ALSO SERVED AS THOUGHT PARTNERS REGARDING ACCESS TO CUTTING-EDGE TECHNOLOGY AND RESEARCH FACILITIES. BY BRIDGING THE GAP BETWEEN ACADEMIA INDUSTRY AND GOVERNMENT ILI HAS FACILITATED KNOWLEDGE TRANSFER PROMOTED COLLABORATION AND HELPED PUT THESE ENTREPRENEURS ON THE PATH TO TURNING THEIR INNOVATIVE IDEAS INTO SUCCESSFUL VENTURES. ILI'S PARTNERSHIP WITH THE VA RESEARCH TECH CENTER AND THE NASA T2X PROGRAM HAS AMPLIFIED THE IMPACT CREATING A DYNAMIC ECOSYSTEM THAT NURTURES STEM ENTREPRENEURSHIP DRIVES TECHNOLOGICAL ADVANCEMENTS AND FOSTERS ECONOMIC GROWTH.
ILI HAS ACHIEVED SIGNIFICANT ACCOMPLISHMENTS IN SUPPORTING THE DEVELOPMENT OF THE MI RIALITI PLATFORM THAT EMPOWERS COMMUNITY-BASED STAKEHOLDERS TO HAVE AN ACTIVE VOICE IN THE DEVELOPMENT OF THEIR COMMUNITIES THROUGH PLACE-BASED AND MEDIA-ENHANCED STORYTELLING. THIS SUPPORT HAS ENABLED COMMUNITY MEMBERS TO REALIZE THEY CAN ACTIVELY PARTICIPATE IN DECISION-MAKING PROCESSES SHAPING THE DEVELOPMENT AGENDA AND PROMOTING SOCIAL EQUITY. THROUGH PLACE-BASED STORYTELLING AND MEDIA ENHANCEMENTS ILI HAS SUPPORTED THE DEVELOPMENT OF THE MI RIALITI PLATFORM THAT ALLOWS COMMUNITY VOICES TO BE HEARD STRENGTHENING LOCAL IDENTITY FOSTERING COLLABORATION AND DRIVING SUSTAINABLE DEVELOPMENT FROM THE GRASSROOTS LEVEL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Scott Bernstein Director | Trustee | 0.1 | $0 |
Hattie B Dorsey Director | Trustee | 0.1 | $0 |
Kwaku C George Director | Trustee | 0.1 | $0 |
John Eric Nelson Director | Trustee | 0.1 | $0 |
Lance C Buhl Director | Trustee | 0.1 | $0 |
Oliver Jones Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $1,150 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $399,504 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $400,654 |
Total Program Service Revenue | $41,901 |
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 | $442,555 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $388,325 |
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 | $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 | $38,000 |
Advertising and promotion | $3,000 |
Office expenses | $331 |
Information technology | $1,200 |
Royalties | $0 |
Occupancy | $0 |
Travel | $4,000 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $6,500 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $442,555 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $113,433 |
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 | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $113,433 |
Accounts payable and accrued expenses | $0 |
Grants payable | $104,359 |
Deferred revenue | $4,982 |
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 | $4,092 |
Total liabilities | $113,433 |
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 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $113,433 |