Metals Innovation Initiative Inc
- Assets
- $578.1k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Bowling Green, KY
- Founding
- Data as of
- 09/2023
- EIN
- 88-3325386
Organization Overview
Metals Innovation Initiative Inc is located in Bowling Green, KY. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Metals Innovation Initiative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE ECOSYSTEM COLLABORATION FOR METALS-RELATED R&D, TECHNOLOGY COMMERCIALIZATION, TALENT & WORKFORCE DEVELOPMENT, AND INFORMATION SHARING IN KENTUCKY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MI2 WAS FOUNDED TO FACILITATE AN ECOSYSTEM FOR METALS INNOVATION. ACTIVITIES INCLUDE FACILITATING ECOSYSTEM COLLABORATION FOR METALS-RELATED PRECOMPETITIVE R&D, TECHNOLOGY COMMERCIALIZATION, TALENT & WORKFORCE DEVELOPMENT, INFORMATION SHARING, ENTREPRENEURIAL ACTIVITY, AND SUPPLY CHAIN DEVELOPMENT. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
MI2 WAS FOUNDED TO FACILITATE AN ECOSYSTEM FOR METALS INNOVATION. ACTIVITIES INCLUDE FACILITATING ECOSYSTEM COLLABORATION FOR METALS-RELATED PRECOMPETITIVE R&D, TECHNOLOGY COMMERCIALIZATION, TALENT & WORKFORCE DEVELOPMENT, INFORMATION SHARING, ENTREPRENEURIAL ACTIVITY, AND SUPPLY CHAIN DEVELOPMENT. SEE SCHEDULE O FOR ADDITIONAL INFORMATION. MI2'S INITIAL GEOGRAPHIC FOCUS IS THE KY ECOSYSTEM, WITH THE INTENT TO BROADEN IMPACTS TO ADDITIONAL STATES AND REGIONS OVER TIME. ECOSYSTEM PARTICIPANTS INCLUDE A WIDE RANGE OF STAKEHOLDERS, MEMBER COMPANIES AND PARTNER ORGANIZATIONS. MEMBER COMPANIES INFORM MI2'S PRIORITIES AND PARTICIPATE IN PRECOMPETITIVE ACTIVITIES. PARTNER ORGANIZATIONS HAVE AN INTEREST IN CONNECTING TO THE METALS ECOSYSTEM AND PROVIDE ACCESS TO RESOURCES. CURRENT ACTIVITIES INCLUDE: 1. ECOSYSTEM BUILDING - OUTREACH TO BUILD, MAINTAIN, AND FACILITATE CONNECTION TO A DIVERSE METALS ECOSYSTEM THROUGH EVENTS, MEETING WITH MEMBERS AND PARTNER ORGANIZATIONS, AND DISSEMINATION OF INFORMATION. CONVENING INDUSTRY MEMBERS SET HIGH-LEVEL PRIORITIES FOR PRECOMPETITIVE COLLABORATION. THE MEMBER LEADERSHIP COUNCIL (MLC) IS COMPRISED OF UP TO 15 REPRESENTATIVES FROM MEMBER COMPANIES AND INFORMS MI2'S ANNUAL STRATEGIC PLAN. 2. STRATEGY GROUP FACILITATION - FACILITATING TOPICAL STRATEGY GROUP PARTICIPATION TO IDENTIFY PRE-COMPETITIVE COLLABORATION OPPORTUNITIES. THERE ARE CURRENTLY FIVE STRATEGY GROUPS WITH DIFFERENT FOCUS AREAS. SUCH AREAS ARE EXPECTED TO EVOLVE OVER TIME IN RESPONSE TO CHANGING PRIORITIES. 3. PROJECT TEAM FACILITATION - FACILITATION OF TEAMS (MEMBERS, PARTNERS, CONTRACTORS) AND PROVIDING PROJECT MANAGEMENT SERVICES FOR PRECOMPETITIVE PROJECT ACTIVITIES. MI2'S PROJECT PORTFOLIO EVOLVES CONTINUALLY AND CURRENTLY INCLUDES 14 PROJECT GROUPS. FUTURE ACTIVITIES INCLUDE: 1. FEDERAL PROGRAMS - MI2 WILL SEEK FEDERAL FUNDING TO ADVANCE METALS-RELATED R&D, TECHNOLOGY COMMERCIALIZATION, TALENT & WORKFORCE DEVELOPMENT, INFORMATION SHARING, ENTREPRENEURIAL ACTIVITY, AND SUPPLY CHAIN DEVELOPMENT. MI2 ANTICIPATES WORKING AS A SUBCONTRACTOR ON PARTNERS' FEDERALLY FUNDED PROJECTS AND LEADING PROPOSALS TO FEDERAL AGENCIES. 2. SPECIALIZED TECHNICAL AND CONSULTING SERVICES - MI2 MAY PROVIDE SPECIALIZED METALS INNOVATION SERVICES THAT ARE NOT READILY AVAILABLE WITHIN THE ECOSYSTEM, SUCH AS ACQUIRING EQUIPMENT FOR SPECIALIZED METALS TESTING OR PROVIDING METALS INNOVATION CONSULTING. SUCH SERVICES WILL NOT COMPETE WITH EXISTING COMMERCIAL CAPABILITIES AVAILABLE WITHIN THE ECOSYSTEM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vijay Kamineni CEO | OfficerTrustee | 20 | $0 |
Laura Hagan Secretary / Treasurer | OfficerTrustee | 10 | $0 |
Matthew Bedingfield Chair | Trustee | 1 | $0 |
Timothy Caboni Director | Trustee | 1 | $0 |
Mike Buckentin Director | Trustee | 1 | $0 |
Name Not Listed Secretary / Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $665,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $335,837 |
| 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 | $1,000,837 |
| Total Program Service Revenue | $76,385 |
| Investment income | $4,047 |
| 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 | $1,081,419 |
| 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 | $36,556 |
| Fees for services: Legal | $20,297 |
| Fees for services: Accounting | $7,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $361,891 |
| Advertising and promotion | $12,920 |
| Office expenses | $11,048 |
| Information technology | $100,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,252 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,607 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $469 |
| Insurance | $1,578 |
| All other expenses | $0 |
| Total functional expenses | $654,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $459,741 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $116,151 |
| 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 | $2,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $578,128 |
| Accounts payable and accrued expenses | $197,940 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $202,940 |
| Net assets without donor restrictions | $375,188 |
| 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 | $578,128 |