Innovation Outreach Program Inc
- Assets
- $76.4k
- Revenue
- $595.0k
- Investments
- $0.0
- Employees
- 0
- Location
- La Jolla, CA
- Founding
- Data as of
- 12/2023
- EIN
- 85-2932804
Organization Overview
Innovation Outreach Program Inc is located in La Jolla, CA. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Outreach Program 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, Innovation Outreach Program Inc generated $595.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $523.2k 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 MISSION OF THE INNOVATION OUTREACH PROGRAM IS TO BUILD A TRUSTED COMMUNITY OF LEADERS, A CROSS-INDUSTRY ECOSYSTEM, THAT CREATES AN EXPONENTIAL INCREASE IN INNOVATION AT MEMBER COMPANIES AS A RESULT OF A YEAR-ROUND EXCHANGE OF IDEAS AND INSIGHT INTO EMERGING TECHNOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVED AS A CROSS-INDUSTRY COMMUNITY OF MULTINATIONAL MEMBER COMPANIES WITH THE GOAL OF FOSTERING COLLABORATION, SHARED LEARNING AND BENCHMARKING. THE IOP ADVANCES THE CONCEPTS AND PROCESSES OF INNOVATION, PROMOTING INNOVATION SCOUTING, DEVELOPING INNOVATIVE BUSINESS IDEAS, WITH THE POTENTIAL TO TEST HOW THESE IDEAS MIGHT PROFITABLY BE TURNED INTO NEW PRODUCTS AND SERVICES AND RELATED ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Ku Board Member | Trustee | 1 | $0 |
Mary Lombardo Board Member | Trustee | 1 | $0 |
James Buzkowski Board Member | Trustee | 1 | $0 |
Claudio Gutierrez Chairman | Officer | 5 | $0 |
Greg Archer Secretary/treas | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $595,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $595,000 |
| Total Program Service Revenue | $0 |
| 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 | $595,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,727 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $175 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $378 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,250 |
| Total functional expenses | $523,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,441 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $76,441 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $76,441 |
| 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 | $76,441 |