I2e Inc

Organization Overview

I2e Inc is located in Oklahoma City, OK. The organization was established in 1998. 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. As of 06/2022, I2e Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I2e 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 06/2022, I2e Inc generated $9.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $6.5m during the year ending 06/2022. While expenses have increased by 10.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

OUR MISSION IS NURTURING ENTREPRENEURS AND BUILDING HIGH-GROWTH COMPANIES IN OKLAHOMA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION MANAGES AND OPERATES THE OKLAHOMA TECHNOLOGY COMMERCIALIZATION CENTER ("OTCC"), A PROGRAM OF THE OKLAHOMA CENTER FOR THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY ("OCAST") UNDER AN ANNUAL CONTRACT. THE OTCC PROGRAM AND CONTRACT WERE ORGANIZED TO HELP SPUR ECONOMIC GROWTH IN THE STATE BY PROMOTING AND ASSISTING OKLAHOMA-BASED TECHNOLOGY COMPANIES. THE ORGANIZATION PERFORMS CERTAIN BUSINESS, RESEARCH, AND PLANNING SERVICES FOR SMALL COMPANIES IN THE AREAS OF MARKETING, DEVELOPMENT, AND FINANCE.


I2E SEED CAPITAL COMPANY, LLC MANAGES THE OKLAHOMA SEED CAPITAL FUND, LLC (OSCF), A SERIES OF INVESTMENT FUNDS PROVIDING SEED AND START-UP STAGE EQUITY FINANCING TO SMALL HIGH-GROWTH, TECHNOLOGY-BASED COMPANIES. IT IS AN INNOVATIVE PUBLIC-PRIVATE PARTNERSHIP, DEVELOPED BY OCAST IN PARTNERSHIP WITH I2E, THE OKLAHOMA DEPARTMENT FINANCE AUTHORITY (ODFA) AND THE OKLAHOMA CAPITAL INVESTMENT BOARD (OCIB) INVOLVED AS CO-INVESTORS IN THE FUND'S FIRST SERIES. THE FUND IS AIMED AT HELPING TECHNOLOGY-BASED FIRMS ACCESS THE CAPITAL THEY NEED TO GROW AND CREATE JOBS. CO-INVESTMENT BY ONE OR MORE INVESTORS IS REQUIRED AND BUSINESSES MUST BE LOCATED IN THE STATE OF OKLAHOMA. DURING THE TAX YEAR, I2E SEED CAPITAL, LLC CONTRACTED WITH I2E MANAGEMENT COMPANY, INC. TO PROVIDE MANAGEMENT SERVICES FOR THE FUND. ACCELERATE OKLAHOMA FUNDS: ACCELERATE OKLAHOMA AND ITS SUBSIDIARIES WERE CREATED TO FACILITATE MANAGEMENT OF FEDERAL FUNDS MADE AVAILABLE TO THE OKLAHOMA DEPARTMENT OF COMMERCE (ODOC) BY THE U.S. TREASURY FOR THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) PROGRAM. THE ORGANIZATION'S CONTRACT, AS AMENDED, WITH ODOC IN THE AMOUNT OF $13,227,911 HAD A FUNDING PERIOD OF MAY 1, 2011 THROUGH MARCH 31, 2017. ON MARCH 31, 2017, THE FEDERAL SSBCI PROGRAM ENDED. PER THE FIRST AMENDMENT TO THE ORIGINAL ALLOCATION AGREEMENT EXECUTED OCTOBER 18, 2012, ANY REPAYMENT OF INVESTED FUNDS, PRINCIPAL AND ANY INVESTMENT GAINS, SHALL REMAIN WITH ACCELERATE OKLAHOMA AND BE USED TO MAINTAIN, MANAGE, AND REINVEST CONSISTENT WITH THE INVESTMENT PLANS SET FORTH IN THE ORIGINAL ALLOCATION AGREEMENT. A SECOND AMENDMENT TO THE ORIGINAL ALLOCATION AGREEMENT, DATED JANUARY 10, 2017, ALLOWS I2E TO CHARGE A FEE FOR MANAGEMENT SERVICES AND TO EARN A CARRIED INTEREST ON ANY PROGRAM INCOME IN THE FORM OF INVESTMENT GAIN ON FUNDS INVESTED. THE ORGANIZATION IS THE SOLE MEMBER OF ACCELERATE OKLAHOMA AND ACCELERATE OKLAHOMA IS THE SOLE MEMBER OF EACH OF ITS SUBSIDIARIES. EACH OF THESE ENTITIES ARE DISREGARDED FOR INCOME TAX PURPOSES AND, AS SUCH, ALL ACTIVITY WILL ULTIMATELY PASS TO THE SOLE MEMBER, THE ORGANIZATION. DURING THE TAX YEAR, I2E CONTRACTED WITH I2E MANAGEMENT COMPANY, INC. TO PROVIDE MANAGEMENT SERVICES FOR I2E ACCELERATE OKLAHOMA, LLC. THE I2E ANGEL SIDECAR FUND, LLC AND I2E GROWOK FUND, LLC WERE MERGED INTO I2E ACCELERATE OKLAHOMA, LL ON JUNE 28, 2019. THE I2E STARTOK FUND, LLC WAS MERGED INTO I2E ACCELERATE OKLAHOMA, LLC ON JULY 18, 2019. ACT TULSA ACCELERATOR IN JANUARY 2021, THE ORGANIZATION PARTNERED WITH ACT HOUSE, INC., A NOT-FOR-PROFIT ORGANIZATION LOCATED IN TALLAHASSEE, FLORIDA, TO DEVELOP ACT TULSA. ACT TULSA IS AN ACCELERATOR PROGRAM FUNDED THROUGH CONTRIBUTIONS THAT IS AIMED AT CULTIVATING AND DRIVING INNOVATION OF BLACK, INDIGENOUS AND PEOPLE OF COLOR (BIPOC) FOUNDERS LOCATED IN TULSA AND BEYOND BY EQUIPPING THEM WITH SKILLS, TOOLS, AND A NETWORK TO ACCELERATE THE FOUNDATIONAL GROWTH OF THEIR COMPANIES.


THE ORGANIZATION ALSO OPERATES THE TECHNOLOGY BUSINESS FINANCE PROGRAM ("TBFP"), A PROGRAM OF OCAST, UNDER AN ANNUAL CONTRACT. TBFP'S PRIMARY MISSION IS TO PROVIDE EARLY STAGE, PROOF-OF-CONCEPT FUNDING TO QUALIFIED OKLAHOMA COMPANIES THAT ARE COMMERCIALIZING NEW PRODUCTS, SERVICES AND PROCESSES FOR THE PURPOSE OF EXPANDING AND DIVERSIFYING THE STATE'S ECONOMY AND PROVIDING HIGHER QUALITY JOBS FOR THE STATE'S CITIZENS.UNDER THE TBFP PROGRAM, THE ORGANIZATION IS RESPONSIBLE FOR RECOMMENDING AND PROVIDING FINANCIAL AWARDS TO QUALIFIED RECIPIENTS AS DEFINED BY ITS CONTRACT WITH OCAST. UPON OCAST'S APPROVAL OF THE AWARD FINANCING AGREEMENTS, THE ORGANIZATION RECEIVES FUNDING FROM OCAST TO BE DISTRIBUTED TO AWARDEES. THE AWARDEES ARE REQUIRED TO REPAY THE FINANCIAL AWARDS IN ACCORDANCE WITH THE TERMS SET FORTH IN THE AWARD AGREEMENT.


LOVE'S ENTREPRENEUR CUP BUSINESS PLAN COMPETITIONTHE BUSINESS PLAN COMPETITION IS FUNDED BY THE LOVE'S CORPORATION AND OTHER SPONSORS THROUGHOUT THE STATE OF OKLAHOMA. STUDENTS INVOLVED IN THE COMPETITION GAIN ACCESS TO NETWORKS OF SUCCESSFUL ENTREPRENEURS, LENDERS AND INVESTORS, TEAM-BUILDING OPPORTUNITIES, BUSINESS PLANNING SKILLS, AND MEDIA EXPOSURE. ONE OF THE GOALS OF THE COMPETITION IS TO ENCOURAGE THE DEVELOPMENT AND COMMERCIALIZATION OF IDEAS AND TECHNOLOGIES BEING DISCOVERED IN OUR UNIVERSITIES. THE DONALD W. REYNOLD'S FOUNDATION PREVIOUSLY SPONSORED THIS COMPETITION. THE REYNOLD'S FOUNDATION SPONSORSHIP ENDED IN FY16. BEGINNING IN FY17, THE LOVE'S CORPORATION AGREED TO BE A MAJOR SPONSOR OF THIS COMPETITION.


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Board, Officers & Key Employees

Name (title)Compensation
Mark Poole
Chairman
$0
Brad Krieger
Vice-Chair
$0
Howard Barnett Jr
Director
$0
Michael Basch
Director
$0
Leslie Batchelor
Director
$0
Michael Carolina
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,575,336
All other contributions, gifts, grants, and similar amounts not included above$885,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,460,336
Total Program Service Revenue$3,005,202
Investment income $18,835
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $4,093,031
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $9,581,488

Peer Organizations

Organization NameAssets
Council For South Texas Economic Progress
Mission, TX
-$269,016
Central Oklahoma Workforce Investment Board Inc
Oklahoma City, OK
$13,560,460
Convention & Visitors Bureau Of Greater Kansas City
Kansas City, MO
$16,167,832
Market Lubbock Economic Development Corporation
Lubbock, TX
$10,379,213
St Louis Economic Development Partnership
Saint Louis, MO
$7,649,513
Corpus Christi Area Convention And Tourist Bureau Inc
Corpus Christi, TX
$7,858,884
Southeast Ark Economic Development Dist Inc
Pine Bluff, AR
$8,494,217
Explore Branson Tourism
Branson, MO
$7,396,641
Whole Foods Market Foundation
Austin, TX
$8,721,152
Wichita Convention & Tourism Bureau
Wichita, KS
$7,116,955
South Central Kansas Economic Development District Inc Sckedd
Bel Aire, KS
$7,056,723
Albuquerque Convention & Visitors Bureau Inc
Albuquerque, NM
$8,800,784
I2e Inc
Oklahoma City, OK
$9,581,488
Economic Development Corporation Of Kansas City Missouri
Kansas City, MO
$6,752,938
Lubbock Economic Development Alliance Inc
Lubbock, TX
$12,728,693
Northwest Arkansas Economic Development District Inc
Harrison, AR
$6,403,027
Region 10 League For Economic Assistance & Planning Inc
Montrose, CO
$4,484,381
Mcallen Economic Development Corporation
Mcallen, TX
$6,280,082
Greater Northwest Kansas Community Foundation
Bird City, KS
$17,466,214
The Economic Development Corporation Of Weslaco
Weslaco, TX
$8,559,382
Edinburg Economic Development Corporation
Edinburg, TX
$10,737,776
Greater Brownsville Incentives Corporation
Brownsville, TX
$8,749,232
Entrepreneur Startup Business Development Corporation
St Louis, MO
$2,347,434
Cen-Tex Certified Development Corporation
Austin, TX
$3,088,394
Greater Houston Partnershipfoundation
Houston, TX
$1,866,671

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