Overview
What is The Institute For Industrial & Applied Life Scienc?
The Institute for Industrial & Applied Life Sciences, also known as Innovation Stockyard, is a nonprofit organization situated in Saint Joseph, Missouri. With a single employee, this organization serves as a catalyst for growth in the life sciences and animal health industry. Its mission is to promote and foster development in this sector within the Saint Joseph area, providing assistance, knowledge, and resources to both start-ups and established companies. The organization supports this goal through various means, including offering time, expertise, physical resources, and space. In 2022, the Institute assisted 18 incubator clients and 22 virtual clients, demonstrating its commitment to nurturing growth in the life sciences industry.
Official website here: www.innovationstockyard.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
The Institute For Industrial & Applied Life Sciences has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score reflects a low rating primarily due to the lack of a whistleblower policy and the absence of posted tax forms on the nonprofit's website, which are essential for transparency. Despite these issues, the organization does have a fully independent board and has maintained no material diversion of assets.
Strengths of the organization include its high scores in board independence and the presence of policies regarding conflicts of interest and document retention. However, the accountability and finance score indicates that while there are some positive aspects, they do not outweigh the critical areas needing improvement. The program expense ratio is also low at 41.99%, suggesting a less effective allocation of resources towards its mission.
Overall, while the organization has a structure in place to support good governance, it is advisable for potential supporters to consider the significant gaps in financial transparency and policy implementation before contributing to or engaging with the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is The Institute For Industrial & Applied Life Scienc legitimate?
The Institute For Industrial & Applied Life Scienc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Institute For Industrial & Applied Life Scienc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $63,733
For more financial information, click here
Official website here: www.innovationstockyard.com
What is the mission statement of The Institute For Industrial & Applied Life Scienc?
The Institute for Industrial & Applied Life Sciences is committed to encouraging and facilitating the growth of life sciences within its realm. Its mission is to serve as a platform for the advancement of life sciences, providing necessary assistance, knowledge, and resources to both start-up and established companies in the life science and animal health industries. The organization supports relevant endeavors in the field by offering its time, expertise, physical resources, and space. In 2022, the institute assisted 18 incubator clients and 22 virtual clients in their respective projects.
Official website here: www.innovationstockyard.com
Who is the CEO of The Institute For Industrial & Applied Life Scienc?
Sara Hagen is the Director of The Institute For Industrial & Applied Life Scienc.
Official website here: www.innovationstockyard.com
What is the revenue of The Institute For Industrial & Applied Life Scienc?
The Institute For Industrial & Applied Life Scienc's revenue in 2022 was $498,477.
Official website here: www.innovationstockyard.com
Who are the executives of The Institute For Industrial & Applied Life Scienc and what are their salaries?
The average compensation at The Institute For Industrial & Applied Life Scienc during 2022 was $63,733. There is 1 employee at The Institute For Industrial & Applied Life Scienc.
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Official website here: www.innovationstockyard.com
Where can I find the form 990 for The Institute For Industrial & Applied Life Scienc?
The Institute For Industrial & Applied Life Scienc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.innovationstockyard.com
Learn more at the official website: www.innovationstockyard.com
Mission Statement of The Institute For Industrial & Applied Life Scienc
The Institute for Industrial & Applied Life Sciences is committed to fostering and promoting the development of life sciences within its sphere of influence. This nonprofit organization aims to serve as a platform for advancing life sciences in various capacities, providing assistance, knowledge, and resources to both start-up and established companies in the life science and animal health industry. The Institute supports these endeavors through its time, expertise, physical resources, and space, as evidenced by its involvement with 18 incubator clients and 22 virtual clients in 2022. In essence, the Institute's mission is to catalyze growth and innovation in the life sciences sector, contributing to its development and expansion within the broader community.
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Impact
July, 2024
The Institute For Industrial & Applied Life Sciences has a significant impact on the St. Joseph, MO area by promoting and fostering the development of life sciences. It serves as a platform for the growth of life sciences and provides crucial support to start-up and existing companies in the life science and animal health industry. By offering assistance, knowledge, resources, and physical space, the institute facilitates the advancement of these companies and contributes to the economic development of the region. In 2022, the Institute had 18 incubator clients and 22 virtual clients, showcasing its active role in supporting innovation and entrepreneurship in the field of life sciences.
This information is meant to be a general summary of The Institute For Industrial & Applied Life Scienc. 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,344
- Program Service Revenue: $205,030
- Gross Receipts: $498,477
Assets and Liabilities:
- Total Assets: $603,921
- Total Liabilities: $20,105
- Net Assets: $583,816
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCUBATOR MGMT SERVICES
Revenue
$185,325
SHARED SPACE & EQUIP IN
Revenue
$11,550
TRAINING INCOME
Revenue
$8,155
Organization Details
Founding Year
2004
Principal Officer
Sara Hagen
Main Address
4221 MITCHELL AVENUE, Saint Joseph, MO, 64507
Website
www.innovationstockyard.comNTEE Category
Code: B90 - Education
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