Innovation Collaborative
- Assets
- $2.4k
- Revenue
- $16.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Erie, PA
- Founding
- 09/2014
- Data as of
- 06/2020
- EIN
- 47-1501676
Organization Overview
Innovation Collaborative is located in Erie, PA. 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. Innovation Collaborative 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 06/2020, Innovation Collaborative generated $16.5k 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 (39.5%) each year. All expenses for the organization totaled $77.1k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATING, MEASURING AND COMMUNICATING OUTCOMES FOR THE IMPROVEMENT OF NORTHWESTERN PENNSYLVANIA'S ENTREPRENEURIAL ECO-SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITATING, MEASURING AND COMMUNICATING OUTCOMES FOR THE IMPROVEMENT OF NORTHWESTERN PENNSYLVANIA'S ENTREPRENEURIAL ECO-SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Zimmer Managing Director | Trustee | 40 | $52,800 |
Eugene Connell Treasurer | OfficerTrustee | 1 | $0 |
Carl Nicolia Chairman | OfficerTrustee | 1 | $0 |
Johnathan D'silva Board Member | Trustee | 1 | $0 |
Adam Williams Board Member | Trustee | 1 | $0 |
Gary Lee Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,250 |
| Investment income | $2 |
| 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 | $16,510 |
| 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. | $26,281 |
| 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 | $12,539 |
| Advertising and promotion | $391 |
| Office expenses | $4,306 |
| Information technology | $432 |
| Royalties | $0 |
| Occupancy | $690 |
| Travel | $65 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $77,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,354 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,354 |
| Accounts payable and accrued expenses | $142 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $142 |
| 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 | $2,212 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Innovation Collaborative has recieved totaling $136,589.
| Awarding Organization | Amount |
|---|---|
Erie Community Foundation Erie, PA PURPOSE: VARIOUS PROJECTS | $136,589 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Commission Of Fayette County Washington Court House, OH | $10,620,828 | $9,688,038 |
Downtown Cleveland Alliance Cleveland, OH | $4,884,612 | $9,424,862 |
New Jersey Community Development Corporation Inc Paterson, NJ | $38,005,348 | $12,337,768 |
Allegheny Conference On Community Development Pittsburgh, PA | $14,597,444 | $7,655,898 |
Maryland Rural Development Corporation Annapolis, MD | $2,490,801 | $9,297,615 |
Religious Coalition For Emergency Human Needs In Frederick County Frederick, MD | $4,940,518 | $9,853,659 |
Campus Partners For Community Urban Redevelopment Columbus, OH | $180,909,775 | $6,681,454 |
G M N Tri-County Community Action Committee Inc Caldwell, OH | $4,898,315 | $8,954,404 |
Fifth Avenue Association Business Improvement District Inc New York, NY | $1,371,227 | $6,747,998 |
Lakeside Association Lakeside, OH | $18,007,265 | $9,409,090 |
Alloy Development Co Inc Cincinnati, OH | $4,726,609 | $7,810,614 |
Fifth Avenue Committee Incorporated Brooklyn, NY | $7,015,493 | $7,933,714 |