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Nonprofiteer
← INNOVATION WORKS INC

Form 990 for tax year 2022

Filed by INNOVATION WORKS INC.

Totals

Total revenue
$15,798,085
Total expenses
$15,866,669
Contributions and grants received
$12,537,505
Grants paid
$446,560
Program service revenue
$2,024,660
Investment income
$1,234,754
Other revenue
$1,166
Total assets, end of year
$49,208,659
Total liabilities, end of year
$7,710,198
Net assets or fund balances, end of year
$41,498,461
Program services expenses (Part IX)
$12,826,325
Management and general expenses
$2,997,239
Fundraising expenses
$43,105
Program service expenses (Part III)
$12,826,325

Program services were 80.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MR RICHARD R LUNAK

    PRESIDENT & CEO (THRU 9/22)

    Total calculated
    $566,046
    From this org
    $513,325
    From related orgs
    $0
    Other
    $52,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $340,568
    Bonus
    $172,097
    Other
    $660
    Deferred
    $36,600
    Nontaxable benefits
    $16,397
    Filer's total
    $566,322

  • MR VEN RAJU

    PRESIDENT & CEO (AS OF 10/22)

    Total calculated
    $400,950
    From this org
    $355,029
    From related orgs
    $0
    Other
    $45,921
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,118
    Bonus
    $64,911
    Other
    $0
    Deferred
    $35,542
    Nontaxable benefits
    $10,655
    Filer's total
    $401,226

  • MR JIM JEN

    VP & COO (THRU 2/23)

    Total calculated
    $337,006
    From this org
    $285,880
    From related orgs
    $0
    Other
    $51,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,916
    Bonus
    $55,301
    Other
    $663
    Deferred
    $28,051
    Nontaxable benefits
    $23,351
    Filer's total
    $337,282

  • MR KIRK BOTULA

    VP & CSOO (AS OF 3/23)

    Total calculated
    $0
    Hours/week
    40

  • MR ROBERT STARZYNSKI

    VP OF BUSINESS DEVELOPMENT, TREASURER

    Total calculated
    $253,632
    From this org
    $216,077
    From related orgs
    $0
    Other
    $37,555
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,755
    Bonus
    $44,744
    Other
    $578
    Deferred
    $21,100
    Nontaxable benefits
    $16,731
    Filer's total
    $253,908

  • MS MEGAN SHAW

    PORTFOLIO EXECUTIVE (THRU 4/23)

    Total calculated
    $245,651
    From this org
    $223,885
    From related orgs
    $0
    Other
    $21,766
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,187
    Bonus
    $39,098
    Other
    $600
    Deferred
    $21,766
    Nontaxable benefits
    $276
    Filer's total
    $245,927

  • MR JEFFERY MCDANIEL

    PORTFOLIO EXECUTIVE

    Total calculated
    $243,558
    From this org
    $203,468
    From related orgs
    $0
    Other
    $40,090
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,024
    Bonus
    $34,444
    Other
    $0
    Deferred
    $20,950
    Nontaxable benefits
    $19,416
    Filer's total
    $243,834

  • MS TERRI GLUECK

    VP, COMMUNICATIONS & COMMU

    Total calculated
    $236,626
    From this org
    $198,235
    From related orgs
    $0
    Other
    $38,391
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,396
    Bonus
    $42,311
    Other
    $528
    Deferred
    $19,136
    Nontaxable benefits
    $19,531
    Filer's total
    $236,902

  • MS KELLEY BENSON

    VP HUMAN RESOURCES & INCLU

    Total calculated
    $236,376
    From this org
    $201,004
    From related orgs
    $0
    Other
    $35,372
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,154
    Bonus
    $43,313
    Other
    $537
    Deferred
    $19,457
    Nontaxable benefits
    $16,192
    Filer's total
    $236,653

  • MR AFSHAN KHAN

    PORTFOLIO EXECUTIVE

    Total calculated
    $227,512
    From this org
    $184,884
    From related orgs
    $0
    Other
    $42,628
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,200
    Bonus
    $31,161
    Other
    $523
    Deferred
    $18,997
    Nontaxable benefits
    $23,907
    Filer's total
    $227,788

  • MR MICHAEL FORMICA

    PORTFOLIO EXECUTIVE (THRU 6/23)

    Total calculated
    $221,112
    From this org
    $184,876
    From related orgs
    $0
    Other
    $36,236
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,192
    Bonus
    $31,161
    Other
    $523
    Deferred
    $12,604
    Nontaxable benefits
    $23,907
    Filer's total
    $221,387

  • MR JAMES WRUBEL

    PORTFOLIO EXECUTIVE

    Total calculated
    $212,501
    From this org
    $183,224
    From related orgs
    $0
    Other
    $29,277
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,232
    Bonus
    $31,464
    Other
    $528
    Deferred
    $19,181
    Nontaxable benefits
    $10,372
    Filer's total
    $212,777

  • MS SUSAN KIJOWSKI

    SECRETARY & CONTROLLER (THRU 7/22)

    Total calculated
    $183,405
    From this org
    $159,146
    From related orgs
    $0
    Other
    $24,259
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,348
    Bonus
    $43,450
    Other
    $348
    Deferred
    $12,604
    Nontaxable benefits
    $11,839
    Filer's total
    $183,589

  • MS KELLI MCMURRAY

    SECRETARY & CONTROLLER (AS OF 7/22)

    Total calculated
    $147,033
    From this org
    $130,486
    From related orgs
    $0
    Other
    $16,547
    Hours/week
    40

  • MS CATHERINE MOTT

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2.5

  • MR ROBERT A RUTENBAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • DR STEVEN REIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MS REBECCA DOERGE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MR JOE FERRARA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MR TOM JONES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MS DONNA MYERS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MR JIMMY WILLIAMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.75

  • MR WILLIAM SANDERS

    BOARD MEMBER (AS OF 6/23)

    Total calculated
    $0
    Hours/week
    0.75

  • MR JUAN GARRETT

    BOARD MEMBER (THRU 12/22)

    Total calculated
    $0
    Hours/week
    0.75

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 committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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

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.

Related partnerships

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

  • RIVERFRONT VENTURES LLC

    RELATED · VENTURE FUND - INVESTMENTS IN EARLY STAGE TECH COMPANIES · PA · 61.61% owned · share of income $370,085 · share of assets $4,728,128

    Directly controlled by IW MANAGEMENT COMPANY LLC

  • RIVERFRONT VENTURES II LLC

    RELATED · VENTURE FUND - INVESTMENTS IN EARLY STAGE TECH COMPANIES · PA · 99.17% owned · share of assets $407,472

    Directly controlled by IW MANAGEMENT COMPANY II LLC

Related corporations and trusts

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

  • IW MANAGEMENT COMPANY LLC

    C · MANAGE RELATED ENTITY, RIVERFRONT VENTURES, LLC · PA · 100% owned · share of income $111,991 · share of assets $1,309,630 · controlled entity

    Directly controlled by INNOVATION WORKS INC

  • IW MANAGEMENT COMPANY II LLC

    C · MANAGE RELATED ENTITY, RIVERFRONT VENTURES II, LLC · PA · 100% owned · share of income $196,000 · share of assets $227,755 · controlled entity

    Directly controlled by INNOVATION WORKS INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349307664

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