Skip to content
Nonprofiteer
← ROCKY MOUNTAIN INNOVATION INITIATIVE INC

Form 990 for tax year 2023

Filed by ROCKY MOUNTAIN INNOVATION INITIATIVE INC.

Totals

Total revenue
$1,188,309
Total expenses
$1,666,605
Contributions and grants received
$795,609
Grants paid
$0
Program service revenue
$266,918
Investment income
$880
Other revenue
$124,902
Total assets, end of year
$8,408,524
Total liabilities, end of year
$1,178,549
Net assets or fund balances, end of year
$7,229,975
Program services expenses (Part IX)
$1,030,860
Management and general expenses
$393,092
Fundraising expenses
$242,653
Program service expenses (Part III)
$1,030,860

Program services were 61.9% 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)

    $218,909

  • 1f · All other contributions, gifts and grants

    $576,700

  • 2a · Program service revenue: PROGRAM REVENUE

    total $266,918 · related or exempt $266,918

  • 3 · Investment income

    total $880 · excluded $880

  • 11a · Other revenue: MANAGEMENT FEE

    total $124,891 · related or exempt $124,891

  • 11b · Other revenue: INCOME FROM P/S

    total $11 · related or exempt $11

  • 11e · Other revenue, total

    $124,902

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $170,141 · program services $98,682 · management and general $40,834 · fundraising $30,625

  • 7 · Other salaries and wages

    total $619,804 · program services $359,486 · management and general $148,753 · fundraising $111,565

  • 8 · Pension plan contributions

    total $6,600 · program services $3,828 · management and general $1,584 · fundraising $1,188

  • 9 · Other employee benefits

    total $79,939 · program services $46,365 · management and general $19,185 · fundraising $14,389

  • 10 · Payroll taxes

    total $56,193 · program services $32,592 · management and general $13,486 · fundraising $10,115

  • 11c · Fees: accounting

    total $109,355 · program services $63,426 · management and general $26,245 · fundraising $19,684

  • 11g · Fees: other

    total $317,831 · program services $248,271 · management and general $69,560

  • 12 · Advertising and promotion

    total $108,759 · program services $63,080 · management and general $26,102 · fundraising $19,577

  • 13 · Office expenses

    total $21,050 · program services $12,209 · management and general $5,052 · fundraising $3,789

  • 14 · Information technology

    total $14,300 · program services $8,294 · management and general $3,432 · fundraising $2,574

  • 16 · Occupancy

    total $37,559 · program services $21,784 · management and general $9,014 · fundraising $6,761

  • 17 · Travel

    total $28,314 · program services $16,422 · management and general $6,795 · fundraising $5,097

  • 19 · Conferences, conventions and meetings

    total $36,695 · program services $21,283 · management and general $8,807 · fundraising $6,605

  • 22 · Depreciation, depletion and amortization

    total $31,109 · program services $18,043 · management and general $7,466 · fundraising $5,600

  • 23 · Insurance

    total $4,810 · program services $2,790 · management and general $1,154 · fundraising $866

  • 24a · Other expenses: OFFICE RENT

    total $23,431 · program services $13,590 · management and general $5,623 · fundraising $4,218

  • 24b · Other expenses: OTHER

    total $715 · program services $715

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,291,316 · end of year $12,203

  • 4 · Accounts receivable

    beginning of year $136,272 · end of year $432,629

  • 9 · Prepaid expenses and deferred charges

    end of year $4,800

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

    $1,302,425

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

    $28,248

  • 10c · Land, buildings and equipment, net

    beginning of year $1,305,285 · end of year $1,274,177

  • 14 · Intangible assets

    beginning of year $55,410 · end of year $55,410

  • 15 · Other assets

    beginning of year $5,069,201 · end of year $6,629,305

  • 17 · Accounts payable and accrued expenses

    beginning of year $148,322 · end of year $1,079,382

  • 19 · Deferred revenue

    beginning of year $0 · end of year $60,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $39,167

  • 27 · Net assets without donor restrictions

    beginning of year $7,709,162 · end of year $7,229,975

Mission and programs · 2023

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

TO ACCELERATE THE SUCCESS OF STARTUP COMPANIES AND TO PROMOTE AN ENTREPRENEURIAL CULTURE.

  • ROCKY MOUNTAIN INNOSPHERE SERVES AS A BUSINESS INCUBATOR FOR STARTUPCOMPANIES. INCUBATED COMPANIES ARE PROVIDED ASSISTANCE IN RAISINGCAPITAL, HELP IN ASSEMBLING SOLID MANAGEMENT TEAMS, STRATEGIC CORPORATEPARTNER DEVELOPMENT, RELATIONSHIPS WITH TEST AND DEMONSTRATIONFACILITIES, DISCOUNTED PROFESSIONAL SERVICE PROVIDERS, AND MANYEDUCATIONAL AND NETWORKING OPPORTUNITIES.

    Expenses $782,590 · Revenue $149,000

  • THE INCUBATION PROGRAM ACCELERATES THE SUCCESS OF HIGH IMPACT SCIENCE AND TECHNOLOGY BASED START UP AND SCALE UP COMPANIES IN COLORADO. IT FOCUSES ON ENSURING COMPANIES ARE INVESTOR READY, CONNECTING TO ENTREPRENEURS WITH EXPERIENCED ADVISORS, MAKING INTRODUCTIONS TO CORPORATE PARTNERS, EXIT PLANNING AND ACCELERATING TOP LINE REVENUE GROWTH.

    Expenses $248,270 · Revenue $117,918

As filed on the 2023 return.

Listed in Part VII

  • Brian Robinson

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • John Leonard

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Alan Rudolph

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Pinsonneault

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jeremy Held

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Seonah Kendall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Bryan Wilson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Zimlich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Patrick Kanouff

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Freeman

    CEO

    Total calculated
    $170,141
    From this org
    $140,595
    From related orgs
    $0
    Other
    $29,546
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,595
    Bonus
    $0
    Other
    $0
    Deferred
    $7,030
    Nontaxable benefits
    $22,517
    Filer's total
    $170,142

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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

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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • POWERHOUSE 2 DEVELOPMENT COMPANY LLC

    GRANT SPONSOR · CO · income $0 · assets $6,514,544

    Directly controlled by ROCKY MOUNTAIN INNOVATION INITIATIVE

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RMI2 PROPERTIES LLC

    N/A · REAL ESTATE · CO · 100% owned · general or managing partner

    Directly controlled by INNOSPHERE ENERGY INC AND INNOSPHERE PROPERTIES NONPROFIT CORPORATION

  • INNOSPHERE MANAGEMENT LLC

    N/A · INVESTMENT FUND · CO · 55% owned · share of income $865 · share of assets $9,638 · general or managing partner

    Directly controlled by RMII

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • INNOSPHERE ENERGY INC

    C · REAL ESTATE · CO · 100% owned · share of income -$155,480 · share of assets $4,326,469 · controlled entity

    Directly controlled by RMII

  • INNOSPHERE ADVISORS INC

    C · INVESTMENT ADVISOR · CO · 100% owned · share of income -$18,689 · share of assets $76,580 · controlled entity

    Directly controlled by RMII

  • INNOSPHERE PROPERTIES NONPROFIT CORPORATION

    C · REAL ESTATE · CO · 100% owned · share of income -$29,616 · share of assets $2,778,574 · controlled entity

    Directly controlled by RMII

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202433189349310778

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.