Material Innovation Institute
- Assets
- $898.3k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Napa, CA
- Founding
- Data as of
- 12/2023
- EIN
- 84-3847333
Organization Overview
Material Innovation Institute, operating under the name Material Innovation Initiative, is located in Napa, CA. According to its NTEE Classification (C20) the organization is classified as: Pollution Abatement & Control, under the broad grouping of Environment and related organizations. As of 12/2023, Material Innovation Initiative employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Material Innovation Initiative 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 12/2023, Material Innovation Initiative generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MATERIAL INNOVATION INITIATIVE ACCELERATES THE DEVELOPMENT OF NEXT-GEN MATERIALS FOR THE FASHION, AUTOMOTIVE, AND HOME GOODS INDUSTRIES. WE WORK TO REPLACE ANIMAL-DERIVED MATERIALS WITH PLANT-BASED AND LAB-GROWN INNOVATIONS, AND TO SHRINK THE ENVIRONMENTAL FOOTPRINT OF EXISTING FIBERS, SUCH AS SYNTHETICS AND CELLULOSE. WE RESEARCH ACROSS INDUSTRIES TO IDENTIFY UNTAPPED SOURCES, ESPECIALLY IN BIOLOGICAL MATERIALS. WE PUBLISH INDUSTRY WHITE PAPERS, TECHNOLOGY OVERVIEWS, AND READINESS ASSESSMENTS TO IDENTIFY KEY AREAS FOR ADDITIONAL RESEARCH. WE COLLABORATE WITH MATERIAL MANUFACTURERS AND BIOTECH COMPANIES TO PROVIDE INFORMATION ON IMPACT THROUGH INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MATERIAL INNOVATION INSTITUTE (MII) WORKS TO IDENTIFY AND ASSIST COMPANIES AND TECHNOLOGIES IN BUILDING AND IMPROVING MATERIALS THAT CAN REPLACE ANIMAL-DERIVED MATERIALS (E.G., LEATHER, REPTILE SKIN, ETC.) IN THE FASHION, AUTOMOTIVE, AND HOME GOODS INDUSTRIES. MII ALSO WORKS TO IDENTIFY POTENTIAL RELATIONSHIPS BETWEEN INVESTORS AND COMPANIES AND TECHNOLOGY IN ORDER TO OBTAIN THE FUNDING NECESSARY TO MAKE ANIMAL-ALTERNATIVE MATERIALS MORE ACCESSIBLE AND ENGAGES IN CONTRACTS WITH BRANDS TO ASSIST IN INCREASING THEIR ALTERNATIVE MATERIAL CACHE AND ADDRESSING HOW THE MATERIALS CAN BE USED. MII'S COMMUNICATIONS DEPARTMENT EDUCATES COMPANIES AND INDIVIDUALS IN THE FASHION, HOME GOODS, AND AUTOMOTIVE INDUSTRIES, AS WELL AS EDUCATING THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacqueline Kravette President | OfficerTrustee | 2 | $0 |
Linne Caudell Secretary/treasurer | OfficerTrustee | 3 | $0 |
Naomi Sachs Director | Trustee | 2 | $0 |
John Bartlett Director | Trustee | 2 | $0 |
Elizabeth Novogratz Director | Trustee | 2 | $0 |
Kirsty Stevenson Director | Trustee | 2 | $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 | $1,088,033 |
| Noncash contributions included in lines 1a–1f | $10,520 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,088,033 |
| Total Program Service Revenue | $74,654 |
| Investment income | $80 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $634 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,163,908 |
| 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. | $245,714 |
| Compensation of current officers, directors, key employees. | $30,715 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $664,109 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,409 |
| Payroll taxes | $81,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,054 |
| Advertising and promotion | $0 |
| Office expenses | $14,580 |
| Information technology | $64,377 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $35,152 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,151 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,567 |
| All other expenses | $50,432 |
| Total functional expenses | $1,525,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,204 |
| Savings and temporary cash investments | $10,520 |
| Pledges and grants receivable | $490,885 |
| 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 | $13,070 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,599 |
| Total assets | $898,278 |
| Accounts payable and accrued expenses | $19,423 |
| 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 | $19,423 |
| Net assets without donor restrictions | $580,061 |
| Net assets with donor restrictions | $298,794 |
| 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 | $898,278 |