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Idea Foundry

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 043587471 ✦ Pittsburgh, PA ✦ Designated as a 501(c)(3)

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Overview

What is Idea Foundry?

Idea Foundry is a nonprofit organization situated in Pittsburgh, Pennsylvania, with a focus on fostering innovation, new company creation, and job growth in the Western Pennsylvania area. Established with the mission to transform technology-driven ideas into fundable start-up companies, Idea Foundry offers business development programs. These programs aim to nurture entrepreneurship and contribute to the region's job market expansion. The organization is staffed by a team of four dedicated individuals, working tirelessly to support the growth of technology-based ventures in the area.


Official website here: www.ideafoundry.org

Is Idea Foundry legitimate?

Idea Foundry is a legitimate nonprofit organization registered as a 501(c)(3) entity. Idea Foundry submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $238,529
Professional Fundraising Fees: $0
Other Salaries and Wages: $133,958

For more financial information, click here


Official website here: www.ideafoundry.org

What is the mission statement of Idea Foundry?

Idea Foundry is an organization with a mission to stimulate innovation, encourage new business creation, and foster job growth in the relevant field. Established with a vision to transform technology-driven ideas into viable start-ups, the organization accomplishes this through their business development programs. These initiatives aim to provide the necessary support and resources to turn promising concepts into financially sustainable enterprises, ultimately contributing to the overall economic growth in the sector.


Official website here: www.ideafoundry.org

Who is the CEO of Idea Foundry?

Michael M Matesic is the Chairman Of The Board of Idea Foundry. The CEO's salary of Idea Foundry is $220,000 and their total compensation is $238,529.


Official website here: www.ideafoundry.org

What is the revenue of Idea Foundry?

Idea Foundry's revenue in 2022 was $250,130.


Official website here: www.ideafoundry.org

Who are the executives of Idea Foundry and what are their salaries?

The average compensation at Idea Foundry during 2022 was $93,122. There are 4 employees at Idea Foundry.


Here are 5 key members and their salaries (Idea Foundry's CEO's salary is $220,000 and their total compensation is $238,529):


Richard K Riederer (Chairman Of The Board)
  • Compensation: $0
  • Related: $0
  • Other: $0
James C Stalder (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patrick B Stewart (Director & Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael M Matesic (Director & Ceo)
  • Compensation: $220,000
  • Related: $0
  • Other: $18,529
Richard Danforth (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.ideafoundry.org

Where can I find the form 990 for Idea Foundry?

Idea Foundry's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.ideafoundry.org

Learn more at the official website: www.ideafoundry.org

Mission Statement of Idea Foundry

Idea Foundry, as an organization, is dedicated to promoting innovation, encouraging the creation of new companies, and fostering job growth in the broader western Pennsylvania area. In pursuit of this mission, Idea Foundry transforms technology-driven concepts into viable start-up companies by providing comprehensive business development programs. The ultimate goal is to stimulate economic growth and development within the region, thereby creating opportunities for local communities and individuals.

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Impact




October, 2024

Idea Foundry has a significant impact in the Western Pennsylvania area, primarily through its efforts to foster innovation, drive new company creation, and stimulate job growth. By transforming technology-based ideas into fundable startup companies, it plays a crucial role in enhancing the local economy and creating a vibrant entrepreneurial ecosystem.

The organization provides vital business development programs that equip entrepreneurs with the necessary resources, mentorship, and guidance to successfully navigate the complexities of launching and running a business. This support not only cultivates innovation but also encourages collaboration within the community, ultimately leading to an increase in job opportunities and economic vitality in the region.

Through its initiatives, Idea Foundry contributes to community improvement by empowering individuals and teams to realize their entrepreneurial ambitions, thereby fostering a culture of creativity, resilience, and economic development in Pittsburgh and surrounding areas.




This information is meant to be a general summary of Idea Foundry. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$250,130 (2022)
Expenses
$594,583 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $32,875
  • Program Service Revenue: $94,549
  • Gross Receipts: $250,130

Assets and Liabilities:

  • Total Assets: $2,143,504
  • Total Liabilities: $103,662
  • Net Assets: $2,039,842

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

BUSINESS DEVELOPMENT S

Revenue

$94,549

Organization Details

Founding Year

2002

Principal Officer

Michael M Matesic

Main Address

1212 PROSPECT RD, PITTSBURGH, PA, 15227

NTEE Category

Code: S30 - Community improvement

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