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Nonprofiteer
← INNOVATION WORKS INC

Form 990 for tax year 2023

Filed by INNOVATION WORKS INC.

Totals

Total revenue
$1,432,816
Total expenses
$1,425,938
Contributions and grants received
$1,429,584
Grants paid
$4,500
Program service revenue
$0
Investment income
$3,232
Other revenue
$0
Total assets, end of year
$1,342,855
Total liabilities, end of year
$38,860
Net assets or fund balances, end of year
$1,303,995
Program services expenses (Part IX)
$698,133
Management and general expenses
$432,702
Fundraising expenses
$295,103
Program service expenses (Part III)
$698,133

Program services were 49.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,429,584

  • 3 · Investment income

    total $3,232 · excluded $3,232

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,500 · program services $4,500

  • 7 · Other salaries and wages

    total $844,354 · program services $408,930 · management and general $258,131 · fundraising $177,293

  • 9 · Other employee benefits

    total $121,842 · program services $60,478 · management and general $36,189 · fundraising $25,175

  • 11g · Fees: other

    total $74,412 · program services $3,750 · management and general $43,583 · fundraising $27,079

  • 13 · Office expenses

    total $1,594 · program services $776 · management and general $488 · fundraising $330

  • 14 · Information technology

    total $54,202 · program services $41,919 · management and general $7,328 · fundraising $4,955

  • 16 · Occupancy

    total $21,564 · program services $10,501 · management and general $6,600 · fundraising $4,463

  • 17 · Travel

    total $9,070 · program services $4,417 · management and general $2,776 · fundraising $1,877

  • 22 · Depreciation, depletion and amortization

    total $48,229 · program services $23,486 · management and general $14,762 · fundraising $9,981

  • 23 · Insurance

    total $5,147 · program services $2,506 · management and general $1,576 · fundraising $1,065

  • 24a · Other expenses: CONTRACTORS

    total $91,621 · management and general $51,661 · fundraising $39,960

  • 24b · Other expenses: PROGRAMMATIC INVESTMENT

    total $69,043 · program services $69,043

  • 24c · Other expenses: STRATEGIC INITIATIVES

    total $63,591 · program services $63,591

  • 24d · Other expenses: PROFESSIONAL DEVEPLOPME

    total $9,297 · program services $3,066 · management and general $6,231

  • 24e · All other expenses

    total $7,472 · program services $1,170 · management and general $3,377 · fundraising $2,925

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $542,796 · end of year $714,368

  • 3 · Pledges and grants receivable

    beginning of year $698,644 · end of year $507,578

  • 4 · Accounts receivable

    beginning of year $30,475 · end of year $101,786

  • 9 · Prepaid expenses and deferred charges

    end of year $4,266

  • 10a · Land, buildings and equipment: cost or other basis

    $144,686

  • 10b · Land, buildings and equipment: accumulated depreciation

    $129,829

  • 10c · Land, buildings and equipment, net

    beginning of year $63,086 · end of year $14,857

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,884 · end of year $38,860

  • 27 · Net assets without donor restrictions

    beginning of year $533,834 · end of year $674,080

  • 28 · Net assets with donor restrictions

    beginning of year $763,283 · end of year $629,915

Mission and programs · 2023

Mission

THE CORPORATION WILL DEVELOP SUSTAINABLE NEIGHBORHOOD ECONOMIES IN DEPRESSED AREAS BY: IGNITING INTEREST IN SUSTAINABLE SOCIAL ENTERPRISE, HELPING INDIVIDUALS TRANSFORM CHALLENGES INTO OPPORTUNITIES, CREATING SUSTAINABLE SOCIAL ENTERPRISES, GROWING FAMILY WAGE JOBS, AND SCALING LOCAL SOLUTIONS TO NATIONAL MARKETS. TRAINING AND DEVELOPING ENTREPRENEURS WILL BE A TOP PRIORITY THROUGH PROGRAMMING AND EDUCATION.

Activities or mission (Part I)

REDUCE BALTIMORE'S NEIGHBORHOOD AND RACIAL WEALTH DIVIDE. TEACH MEMBERS OF DISINVESTED COMMUNITIES HOW TO BUILD AND OWN SUCCESSFUL SOCIAL ENTERPRISES THAT CREATE SUSTAINABLE NEIGHBORHOOD ECONOMIES AND RESULT IN BETTER FAMILY LIVING, MORE RESILIENT NEIGHBORHOODS AND A SAFER MORE VIBRANT CITY.

  • SOCIAL ENTERPRISE DEVELOPMENT PIPELINE

    Expenses $357,349 · Grants $3,500

  • STRATEGIC INITIATIVES, FOCUSED ON SECTOR-BASED ECONOMIC DEVELOPMENT.

    Expenses $106,353

  • PROGRAM SUPPORT CONTRACTS, FOR ORGANIZATIONAL CAPACITY DEVELOPMENT INCLUDING CURRICULUM DEVELOPMENT AND IMPACT DATA MEASUREMENT.

    Expenses $234,431 · Grants $1,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • A Jay Nwachu

    CEO

    Total calculated
    $144,502
    From this org
    $144,502
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dan Rizzo

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Dr Frank Lance

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Francis Knott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    14

  • Jim Peterson Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Natasha M Dartigue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Nkenge Yasin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Pamela Roussos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Rev Gregory Chisholm Sj

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Russell Joyner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Sabrina Depestre

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Stephen Abrams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Terrence M Sawyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Tina Rodriguez

    VICE - PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Nick Napolitano

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • John Busse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Anthony Watters Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • IGNITE CAPITAL INC

    501(C)(3) · EMPOWER BALT SOCIAL ENTERPRISES IN ECONOMICALLY DISTRESSED COMMUNITIES · MD · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349309155

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