Form 990 for tax year 2023
Filed by OKLAHOMA CITY INNOVATION DISTRICT INC.
Totals
- Total revenue
- $1,581,259
- Total expenses
- $1,999,171
- Contributions and grants received
- $1,336,225
- Grants paid
- $0
- Program service revenue
- $205,995
- Investment income
- $39,033
- Other revenue
- $6
- Total assets, end of year
- $1,541,444
- Total liabilities, end of year
- $324,698
- Net assets or fund balances, end of year
- $1,216,746
- Program services expenses (Part IX)
- $1,121,358
- Management and general expenses
- $877,813
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,121,358
Program services were 56.1% 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.
-
1e · Government grants (contributions)
$888,550
-
1f · All other contributions, gifts and grants
$447,675
-
2a · Program service revenue: PROGRAM SERVICE REVENUE
total $200,000 · unrelated business $0 · excluded $0
-
2b · Program service revenue: INNOVATION SYMPOSIUM
total $5,995 · unrelated business $0 · excluded $0
-
3 · Investment income
total $39,033 · unrelated business $0 · excluded $39,033
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $6 · related or exempt $6 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$6
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $160,192 · program services $76,741 · management and general $83,451 · fundraising $0
-
7 · Other salaries and wages
total $584,428 · program services $279,973 · management and general $304,455 · fundraising $0
-
8 · Pension plan contributions
total $19,196 · program services $9,196 · management and general $10,000 · fundraising $0
-
9 · Other employee benefits
total $78,779 · program services $37,740 · management and general $41,039 · fundraising $0
-
10 · Payroll taxes
total $61,306 · program services $29,369 · management and general $31,937 · fundraising $0
-
11a · Fees: management
total $150,000 · program services $23,250 · management and general $126,750 · fundraising $0
-
11b · Fees: legal
total $56,904 · program services $15,389 · management and general $41,515 · fundraising $0
-
11c · Fees: accounting
total $19,563 · program services $0 · management and general $19,563 · fundraising $0
-
11f · Fees: investment management
total $4,754 · program services $0 · management and general $4,754 · fundraising $0
-
11g · Fees: other
total $613,151 · program services $555,769 · management and general $57,382 · fundraising $0
-
12 · Advertising and promotion
total $39,398 · program services $31,543 · management and general $7,855 · fundraising $0
-
13 · Office expenses
total $26,829 · program services $5,287 · management and general $21,542 · fundraising $0
-
14 · Information technology
total $20,826 · program services $0 · management and general $20,826 · fundraising $0
-
16 · Occupancy
total $42,384 · program services $1,544 · management and general $40,840 · fundraising $0
-
19 · Conferences, conventions and meetings
total $7,865 · program services $4,791 · management and general $3,074 · fundraising $0
-
24a · Other expenses: DUES AND SUBSCRIPTIONS
total $23,927 · program services $0 · management and general $23,927 · fundraising $0
-
24b · Other expenses: PROGRAM EVENTS
total $86,994 · program services $49,428 · management and general $37,566 · fundraising $0
-
24e · All other expenses
total $2,675 · program services $1,338 · management and general $1,337 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $457,003 · end of year $181,086
-
3 · Pledges and grants receivable
beginning of year $189,866 · end of year $615,094
-
4 · Accounts receivable
beginning of year $9,021
-
9 · Prepaid expenses and deferred charges
beginning of year $5,856 · end of year $72,695
-
11 · Investments: publicly traded securities
beginning of year $1,086,745 · end of year $672,569
-
17 · Accounts payable and accrued expenses
beginning of year $89,478 · end of year $324,698
-
19 · Deferred revenue
beginning of year $27,782
-
27 · Net assets without donor restrictions
beginning of year $1,431,231 · end of year $1,116,746
-
28 · Net assets with donor restrictions
beginning of year $200,000 · end of year $100,000
Mission and programs · 2023
Mission
TO BRING TOGETHER THE GREATEST MINDS IN TOTAL COLLABORATION, YIELDING WORLD-CHANGING RESULTS. HOME TO INTERNATIONALLY-ACCLAIMED ORGANIZATIONS SPANNING OKLAHOMAS DIVERSE SECTORS - HEALTH, ENERGY, AEROSPACE, TECHNOLOGY, ACADEMIA AND MORE - THE INNOVATION DISTRICT PROVIDES OPPORTUNITIES FOR ENTREPRENEURSHIP, INNOVATION AND COMMUNITY GROWTH.
-
INNOVATION DISTRICT - THE ORGANIZATION HAS AGREED TO PARTNER WITH AND PROVIDE SERVICES TO OTHER ENTITIES TO HELP CREATE A UNIFIED VISION AND STRATEGY FOR THE DEVELOPMENT OF A VIBRANT, COHESIVE INNOVATION DISTRICT.
Expenses $1,121,358 · Revenue $200,000
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Cathy O'ConnorCATHY O'CONNOR
INTERIM CEO AND BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 40
-
Katy BorenKATY BOREN
PRESIDENT & CEO (thru 7/2023)
- Total calculated
- $173,868
- From this org
- $158,442
- From related orgs
- $0
- Other
- $15,426
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,442
- Bonus
- $0
- Other
- $30,000
- Deferred
- $8,712
- Nontaxable benefits
- $6,714
- Filer's total
- $173,868
-
Kathy CullenKATHY CULLEN
CHIEF FINANCIAL OFFICER
- Total calculated
- $191,779
- From this org
- $162,448
- From related orgs
- $0
- Other
- $29,331
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,448
- Bonus
- $0
- Other
- $0
- Deferred
- $8,891
- Nontaxable benefits
- $20,440
- Filer's total
- $191,779
-
Koey KeylonKOEY KEYLON
EXECUTIVE DIRECTOR, BIOTC
- Total calculated
- $142,305
- From this org
- $132,509
- From related orgs
- $0
- Other
- $9,796
- Hours/week
- 40
-
Christian KanadyCHRISTIAN KANADY
BOARD PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Christy GillenwaterCHRISTY GILLENWATER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Andy WeyrichDR ANDY WEYRICH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Quintin HughesDR QUINTIN HUGHES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Cresha RedusCRESHA REDUS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tomas Diaz De La RubiaTOMAS DIAZ DE LA RUBIA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
David HarlowDAVID HARLOW
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rick McCuneRICK MCCUNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Gary RaskobDR GARY RASKOB
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kenton TsoodleKENTON TSOODLE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
James JohnsonJAMES JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer SchultzJENNIFER SCHULTZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
Answered no
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Pt I Line 4a
- A SEVERANCE PACKAGE TOTALING $30,000 WAS PAID TO KATY BOREN.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413199349302016
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