Innovate Birmingham
- Assets
- $219.8k
- Revenue
- $343.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Birmingham, AL
- Founding
- 07/2017
- Data as of
- 12/2022
- EIN
- 81-5327975
Organization Overview
Innovate Birmingham is located in Birmingham, AL. The organization was established in 2017. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2022, Innovate Birmingham employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovate Birmingham 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, Innovate Birmingham generated $343.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $554.6k during the year ending 12/2022. 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
INNOVATE BIRMINGHAM IS A NONPROFIT ORGANIZATION WORKING TO PROMOTE ECONOMIC MOBILITY AND FILL THE TECH TALENT GAP IN CENTRAL ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2016, FOLLOWING THE AWARD OF THE US DEPARTMENT OF LABOR'S AMERICA'SPROMISE GRANT (LED BY THE UNIVERSITY OF ALABAMA AT BIRMINGHAM (UAB)), ACOALITION OF OVER 15 COMMUNITY PARTNERS AND 30 EMPLOYERS CAME TOGETHER TOSOLVE TWO PROBLEMS: (1) MEET THE DEMAND OF AN IT WORKFORCE GROWING AT THESECOND-FASTEST PACE IN THE COUNTRY; (2) HARNESS THE POTENTIAL OF UNDER- ANDUNEMPLOYED RESIDENTS IN CENTRAL ALABAMA. INNOVATE BIRMINGHAM AND OUR PARTNERS ARE DRIVEN BY A SHARED BELIEF: TALENT IS DISTRIBUTED EQUALLY IN OUR COMMUNITY BUT OPPORTUNITY IS NOT. OUR PROGRAMS ARE DESIGNED TO ADDRESS THIS CHALLENGE BY IDENTIFYING TALENT NEEDS WITH EMPLOYERS; CONNECTING WITH AREA RESIDENTS WHO ARE DISCONNECTED FROM THE LABOR MARKET; AND PROVIDING HOLISTIC SUPPORT, PROFESSIONAL DEVELOPMENT, AND TRAINING FOR OUR STUDENTS.AS A DEMAND-DRIVEN NONPROFIT ORGANIZATION, OUR PROGRAMS ARE UPDATED ANDALIGNED WITH INDUSTRY NEEDS ALONG WITH INPUT FROM EMPLOYERS ANDPARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Underwood President | OfficerTrustee | 3 | $0 |
Delphine Carter Vice President | OfficerTrustee | 3 | $0 |
Donnie Garvich Director | Trustee | 3 | $0 |
Chris Sims Director | Trustee | 3 | $0 |
Emily Wykle Director | Trustee | 3 | $0 |
Ben Branch Director | Trustee | 3 | $0 |
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 | $343,232 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $343,232 |
| Total Program Service Revenue | $0 |
| Investment income | $216 |
| 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 | $343,555 |
| 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. | $66,113 |
| Compensation of current officers, directors, key employees. | $3,306 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,245 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,458 |
| Payroll taxes | $19,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,538 |
| Fees for services: Accounting | $23,789 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,275 |
| Advertising and promotion | $6,013 |
| Office expenses | $294 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,812 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,894 |
| All other expenses | $170 |
| Total functional expenses | $554,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,362 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $52,446 |
| 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 | $219,808 |
| Accounts payable and accrued expenses | $119,565 |
| 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 | $119,565 |
| Net assets without donor restrictions | $75,243 |
| Net assets with donor restrictions | $25,000 |
| 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 | $219,808 |