St Petersburg Innovation District Inc

Organization Overview

St Petersburg Innovation District Inc is located in St Petersburg, FL. The organization was established in 2018. 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. As of 12/2023, St Petersburg Innovation District Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Petersburg Innovation District Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2023, St Petersburg Innovation District Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 49.8% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 48.5% per year over the past 5 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

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE ST. PETERSBURG INNOVATION DISTRICT IS TO DEVELOP ST.PETERSBURG INTO AN ENVIRONMENT THAT FOSTERS JOB GROWTH, ECONOMIC DEVELOPMENT, LEARNING AND INSPIRATION BY BRINGING INNOVATIVE PEOPLE AND ORGANIZATIONS TOGETHER. OUR VISION IS TO HARNESS THE POTENTIAL OF PEOPLE, INSTITUTIONS AND BUSINESSES IN THE ST. PETERSBURG INNOVATION DISTRICT TO GENERATE COLLABORATIVE SOLUTIONS THAT WILL BENEFIT THE WORLD

Describe the Organization's Program Activity:

Part 3 - Line 4a

FACILITATE GREATER INCLUSIONARY COLLABORATION IN SEARCH OF INNOVATION. THE PURPOSE OF THIS ACTIVITY IS TO INCREASE MULTI-SECTOR, CROSS DISCIPLINE COLLABORATION BY INTRODUCING PEOPLE TO EACH OTHER AND THE RESEARCH OR WORK BEING PERFORMED. THESE COLLABORATIONS INCLUDE ORGANIZATIONAL TOURS, NETWORKING EVENTS, STEM ACTIVITIES AND SPEAKERS OR PANEL DISCUSSIONS. THE EXPECTATION IS THAT BY INCREASING COLLABORATION WE ARE ABLE TO FIND CREATIVE SOLUTIONS TO ADDRESS COMMUNITY ISSUES AND GENERATE EMPLOYMENT OPPORTUNITIES FOR NEWCOMERS TO THE CITY AND CITIZENS IN SURROUNDING NEIGHBORHOODS. COLLABORATIONS ARE TRACKED AND SUCCESSES SHARED WITH THE BROADER COMMUNITY IN THE WEBSITE, E-NEWSLETTER AND SOCIAL MEDIA. THIS ACTIVITY IS IMPORTANT TO THE PURPOSE OF THE ORGANIZATION BECAUSE IT IS HOW WE FOSTER LEARNING AND INSPIRATION THAT CAN IN TURN SUPPORT JOB GROWTH AND ECONOMIC DEVELOPMENT. THIS ACTIVITY IS ONGOING AND OCCURS PREDOMINATELY IN THE DISTRICT, WITH SOME EVENTS EXTENDING INTO THE GREATER ST. PETERSBURG AREA. THE ACTIVITY IS GUIDED BY THE ORGANIZATION'S BOARD OF DIRECTORS, COORDINATED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR, AND PERFORMED BY INDIVIDUALS WITHIN THE MEMBER ORGANIZATIONS.


ATTRACT NEW, DIVERSE AND INTELLECTUAL CAPACITY. THE PURPOSE OF THIS ACTIVITY IS TO FUEL THE ECONOMIC GROWTH OF ST. PETERSBURG. THIS IS ACCOMPLISHED BY ENHANCING THE RESEARCH AND EDUCATION CAPABILITIES, ASSISTING IN THE RECRUITMENT AND DIVERSIFICATION OF THE EMPLOYMENT BASE, AND ASSISTING IN THE ATTRACTION OR INCUBATION OF NEW BUSINESSES. THIS ACTIVITY INCLUDES ENCOURAGING NEW RESEARCH PROJECTS, PROVIDING SUPPORT FOR COMPANIES LOOKING TO RELOCATE, AND ASSISTING IN THE EXPANSION OF INCUBATOR ORGANIZATIONS. THIS ACTIVITY IS IMPORTANT FOR THE ORGANIZATION TO ENABLE JOB GROWTH THROUGH THE ADDITION OF NEW EMPLOYERS AND EXPANSION OF EXISTING EMPLOYERS. THIS ACTIVITY IS ONGOING AND OCCURS PREDOMINATELY IN THE DISTRICT, WITH SOME EVENTS EXTENDING INTO THE GREATER ST. PETERSBURG AREA. THE ACTIVITY IS GUIDED BY THE ORGANIZATION'S BOARD OF DIRECTORS, COORDINATED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR, AND PERFORMED BY INDIVIDUALS WITHIN THE MEMBER ORGANIZATIONS.


CREATE A SENSE OF PLACE. THE PURPOSE OF THIS ACTIVITY IS TO PHYSICALLY CONNECT THE ORGANIZATIONS AND SPACES IN THE ORGANIZATION TO SUPPORT COLLABORATION AND ATTRACT BUSINESSES AND TALENT. THIS ACTIVITY INCLUDES INSTALLING NEW DIRECTIONAL SIGNAGE, REDESIGNING STREETS TO ACCOMODATE WALKERS AND BIKERS, AND ENCOURAGING THE OPENING OF AMENITIES SUCH AS COFFEE SHOPS AND COLLABORATIVE SPACES. THIS ACTIVITY BEGAN IN 2015 WITH A STUDY CONDUCTED BY THE CITY OF ST. PETERSBURG. THE CITY OF ST. PETERSBURG IS FUNDING AND MANAGING THE NEW SIGNAGE AND STREET REDESIGN PROJECT. THE ORGANIZATION'S BOARD OF DIRECTORS IS GUIDING THE DISCUSSION OF NEW AMENITIES IN COORDINATION WITH THE CITY OF ST. PETERSBURG, COORDINATED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR.


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Board, Officers & Key Employees

Name (title)Compensation
Rob Kapusta
Board Member
$0
Latasha Barnes
President
$0
Julie Rocco
Secretary/treasurer
$0
Jackie Skryd
Board Member
$0
Katrina Mason
Board Member
$0
Tom Frazer
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$172,500
Fundraising events$0
Related organizations$0
Government grants $50,000
All other contributions, gifts, grants, and similar amounts not included above$2,005
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$224,505
Total Program Service Revenue$831,261
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 $1,055,766

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