Rocky Mountain Innovation Initiative Inc
- Assets
- $7.9m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 28
- Location
- Fort Collins, CO
- Founding
- 09/2009
- Data as of
- 12/2022
- EIN
- 77-0707779
Organization Overview
Rocky Mountain Innovation Initiative Inc, operating under the name Innosphere Ventures, is located in Fort Collins, CO. The organization was established in 2009. 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 12/2022, Innosphere Ventures employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innosphere Ventures 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, Innosphere Ventures generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 11.4% per year over the past 8 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
TO ACCELERATE THE SUCCESS OF STARTUP COMPANIES AND TO PROMOTE AN ENTREPRENEURIAL CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKY MOUNTAIN INNOSPHERE SERVES AS A BUSINESS INCUBATOR FOR STARTUPCOMPANIES. INCUBATED COMPANIES ARE PROVIDED ASSISTANCE IN RAISINGCAPITAL, HELP IN ASSEMBLING SOLID MANAGEMENT TEAMS, STRATEGIC CORPORATEPARTNER DEVELOPMENT, RELATIONSHIPS WITH TEST AND DEMONSTRATIONFACILITIES, DISCOUNTED PROFESSIONAL SERVICE PROVIDERS, AND MANYEDUCATIONAL AND NETWORKING OPPORTUNITIES.
THE INCUBATION PROGRAM ACCELERATES THE SUCCESS OF HIGH IMPACT SCIENCE AND TECHNOLOGY BASED START UP AND SCALE UP COMPANIES IN COLORADO. IT FOCUSES ON ENSURING COMPANIES ARE INVESTOR READY, CONNECTING TO ENTREPRENEURS WITH EXPERIENCED ADVISORS, MAKING INTRODUCTIONS TO CORPORATE PARTNERS, EXIT PLANNING AND ACCELERATING TOP LINE REVENUE GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Robinson Board Secretary | Trustee | 2 | $0 |
John Leonard Board Chair | OfficerTrustee | 2 | $0 |
Alan Rudolph Board Member | Trustee | 2 | $0 |
Jennifer Pinsonneault Board Member | Trustee | 2 | $0 |
Jeremy Held Board Member | Trustee | 2 | $0 |
Seonah Kendall Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tribe Development Real Estate Development | 12/30/22 | $135,978 |
Anderson Consulting Project Management | 12/30/22 | $108,285 |
Neenan Archistruction Design And Construction | 12/30/22 | $739,683 |
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 | $3,393,321 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,393,321 |
| Total Program Service Revenue | $292,582 |
| Investment income | $1,011 |
| 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 | $3,866,520 |
| 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. | $176,609 |
| Compensation of current officers, directors, key employees. | $42,386 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $690,004 |
| Pension plan accruals and contributions | $18,376 |
| Other employee benefits | $124,763 |
| Payroll taxes | $75,279 |
| Fees for services: Management | $65,000 |
| Fees for services: Legal | $545 |
| Fees for services: Accounting | $60,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $345,007 |
| Advertising and promotion | $111,914 |
| Office expenses | $15,179 |
| Information technology | $25,450 |
| Royalties | $0 |
| Occupancy | $33,539 |
| Travel | $35,257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,841 |
| Interest | $4,402 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,755 |
| Insurance | $5,284 |
| All other expenses | $0 |
| Total functional expenses | $2,062,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,291,316 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,272 |
| 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 | $1,305,285 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $55,410 |
| Other assets | $5,069,201 |
| Total assets | $7,857,484 |
| Accounts payable and accrued expenses | $148,322 |
| 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 | $148,322 |
| Net assets without donor restrictions | $7,709,162 |
| 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 | $7,857,484 |