Responsible Innovation Labs Inc is located in Dover, DE. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Responsible Innovation Labs Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Responsible Innovation Labs Inc 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, Responsible Innovation Labs Inc generated $353.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (24.2%) each year. All expenses for the organization totaled $620.2k 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
RESPONSIBLE INNOVATION LABS IS A COALITION OF LEADING INVESTORS AND TECHNOLOGY EXECUTIVES WHO RECOGNIZE THE IMPORTANCE OF RESPONSIBLE INNOVATION AND THE NEED FOR A MORE RIGOROUS APPROACH TO TACKLING THE CHALLENGES AND OPPORTUNITIES OF THIS MOMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESPONSIBLE INNOVATION LABS (RIL) STRIVES TO MAKE RESPONSIBLE INNOVATION AN ESSENTIAL MINDSET AND OPERATIONAL NORM AMONG HIGH-GROWTH TECHNOLOGY COMPANIES AND THEIR INVESTORS. RIL STIMULATES THE DEMAND SIDE OF THE RESPONSIBLE INNOVATION EQUATION BY DEVELOPING STANDARDS TO CONTRIBUTE TO THE FIELD'S INFRASTRUCTURE, ENGAGING CAPITAL ALLOCATORS TO SHIFT INCENTIVES AND INDUSTRY BEHAVIOR, AND BUILDING COMMUNITY ACROSS PRIVATE AND PUBLIC SOCIETY LEADERS. RIL BELIEVES RESPONSIBLE INNOVATION IS A COMPETENCY THAT CAN BE DEVELOPED. IT IS COMMITTED TO HIGHLIGHTING HOW RESPONSIBLE INNOVATION LEADS TO VALUE CREATION AND PROVIDES NET BENEFITS TO INDIVIDUALS AND COMMUNITIES WHO ARE NOT SHAREHOLDERS. RIL HAS ATTRACTED A COMMUNITY OF NEARLY 100 MEMBER FIRMS AND ADVISORS THAT HAVE JOINED IN SUPPORT OF OUR FOUNDING CHARTER OR ONE OR MORE OF OUR COMMITMENTS, INCLUDING RESPONSIBLE AI. OUR CHARTER SUPPORTS A VISION FOR THE TECHNOLOGY INDUSTRY TO INNOVATE INTENTIONALLY, OPERATE WITH ACCOUNTABILITY AND TRANSPARENCY, AND SHARE VALUES OF SHARED PROSPERITY, SUSTAINABILITY, RESPECTING PEOPLE, SOCIETAL RESPONSIBILITY, AND CHAMPIONING INCLUSION. WE ARE JOINED BY WORLD-CLASS FOUNDERS (LIKE THE CEOS OF CITYBLOCK, GUSTO, GUILD, WARBY PARKER), INVESTORS (LIKE GENERAL CATALYST, BASE10, BAIN CAPITAL VENTURES, MAYFIELD, IVP, BESSEMER VENTURES, KHOSLA VENTURES), LIMITED PARTNERS (LIKE THE OXFORD UNIVERSITY ENDOWMENT MANAGEMENT, PRINCO AT PRINCETON UNIVERSITY) AND ADVISORS (LIKE KEN CHENAULT, YOUNGME MOON, LILA PRESTON). DEVELOPED WITH A CROSS-SECTOR COALITION, RIL IS PREPARING TO LAUNCH THE FIRST INDUSTRY-DRIVEN, PRO-INNOVATION RESPONSIBLE AI STANDARDS FOR STARTUPS IN Q4 '23. RIL HAS ALSO ENGAGED A BROADER COMMUNITY OF NEARLY 500 GLOBAL TECH LEADERS TO DISCUSS METHODS AND MINDSETS FOR RESPONSIBLE COMPANY-BUILDING WITH INFLUENTIAL SPEAKERS, INCLUDING A FIRST-EVER DISCUSSION BETWEEN DR. SAFIYA NOBLE FROM UCLA AND A LEADING VENTURE INVESTOR AND AN EARLY-STAGE FOUNDER SESSION WITH ETHICAL OS CO-AUTHOR RAINA KUMRA. OUR WEEKLY CONTENT, TOPICAL WEBINARS, AND FOUNDER DINNERS HAVE DIRECTLY ENGAGED NEARLY 400 INDIVIDUALS AS WELL. [ADD LINKS] RIL IS FOCUSED ON IMPLEMENTATION OF ITS RESPONSIBLE AI COMMITMENTS, GROWING ITS MEMBERSHIP, AND LEVERAGING ITS VOICE AND PROGRAMMING TO ADVANCE THE GOALS OF RIL'S CHARTER.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Luisa Reyes Product Manager | 40 | $120,000 | |
Jon Zieger President & Secretary | OfficerTrustee | 40 | $21,208 |
Diede Van Lamoen Treasurer | OfficerTrustee | 5 | $7,000 |
Hemant Taneja Director & Advisory Board Chair | Trustee | 5 | $0 |
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 | $353,253 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $353,253 |
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 | $353,253 |
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. | $93,614 |
Compensation of current officers, directors, key employees. | $37,446 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $201,500 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $15,799 |
Payroll taxes | $21,177 |
Fees for services: Management | $0 |
Fees for services: Legal | $75 |
Fees for services: Accounting | $1,156 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $261,568 |
Advertising and promotion | $370 |
Office expenses | $6,616 |
Information technology | $3,562 |
Royalties | $0 |
Occupancy | $0 |
Travel | $5,914 |
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 | $8,800 |
All other expenses | $0 |
Total functional expenses | $620,151 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $58,325 |
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 | $58,325 |
Accounts payable and accrued expenses | $379 |
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 | $379 |
Net assets without donor restrictions | $57,946 |
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 | $58,325 |