Overview
What is Milwaukee Regional Innovation Center?
The Milwaukee Regional Innovation Center is a nonprofit organization situated in Wauwatosa, Wisconsin. Its primary mission is to promote entrepreneurship and stimulate growth by establishing a hub for new employment opportunities. The center also pursues innovation and research product development, benefiting the Milwaukee Regional Medical Center, local universities, technical schools, and the wider Milwaukee area. To achieve these goals, it manages and operates the Technology Innovation Center and the Milwaukee County Research Park. The center supports and houses emerging businesses involved in technology development, scientific research, and related activities, aiming to foster an environment that fosters innovation and development. The Milwaukee County Research Park is further developed and managed according to its declared conventions, conditions, restrictions, and design guidelines, ensuring a well-organized and thriving innovation ecosystem.
Official website here: www.technologyinnovationcenter.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating
The Milwaukee Regional Innovation Center has achieved a high score of 96%, reflecting its strong performance in Accountability and Finance. This rating is indicative of the organization's commitment to transparency and effective financial management, showcasing a well-structured governance framework with a fully independent board of directors. The organization has excelled in crucial areas, including material diversion of assets and maintaining a low liabilities to assets ratio.
The center’s program expense ratio stands at 80.09%, indicating that a significant portion of its resources is dedicated to programmatic activities rather than administrative costs. This focus enhances its credibility and effectiveness in fulfilling its mission, as stakeholders can be confident that their contributions are being utilized efficiently to support the organization's goals.
While the overall score is impressive, it is essential to note that the rating is based solely on the Accountability & Finance beacon. Future evaluations could benefit from additional metrics to provide a more comprehensive view of the organization's impact and effectiveness in achieving its mission. Overall, the Milwaukee Regional Innovation Center demonstrates a strong commitment to financial responsibility and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Milwaukee Regional Innovation Center legitimate?
Milwaukee Regional Innovation Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Milwaukee Regional Innovation Center 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: $241,295
Professional Fundraising Fees: $0
Other Salaries and Wages: $161,920
For more financial information, click here
Official website here: www.technologyinnovationcenter.org
What is the mission statement of Milwaukee Regional Innovation Center?
The Milwaukee Regional Innovation Center's mission is primarily focused on fostering entrepreneurship and stimulating development, thereby generating new employment opportunities. It also aims to promote innovation and the development of research products, benefiting various entities such as medical centers, universities, technical schools, and the local community. The organization supports and houses emerging businesses engaged in technology development, scientific research, and related activities. It also works on modifying and rehabilitating a Technology Innovation Center to further these objectives. Lastly, the Milwaukee Regional Innovation Center is responsible for managing and operating the Milwaukee County Research Park.
Official website here: www.technologyinnovationcenter.org
Who is the CEO of Milwaukee Regional Innovation Center?
Mark Johnson is the Executive Director of Milwaukee Regional Innovation Center.
Official website here: www.technologyinnovationcenter.org
What is the revenue of Milwaukee Regional Innovation Center?
Milwaukee Regional Innovation Center's revenue in 2022 was $1,244,262.
Official website here: www.technologyinnovationcenter.org
Who are the executives of Milwaukee Regional Innovation Center and what are their salaries?
The average compensation at Milwaukee Regional Innovation Center during 2022 was $100,804. There are 4 employees and 14 volunteers at Milwaukee Regional Innovation Center.
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- Compensation: $38,750
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- Compensation: $172,100
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- Other: $28,315
Official website here: www.technologyinnovationcenter.org
Where can I find the form 990 for Milwaukee Regional Innovation Center?
Milwaukee Regional Innovation Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.technologyinnovationcenter.org
Learn more at the official website: www.technologyinnovationcenter.org
Mission Statement of Milwaukee Regional Innovation Center
The Milwaukee Regional Innovation Center, in its mission, seeks to create an environment that fosters entrepreneurship. This is driven by the desire to generate new employment opportunities and stimulate development. The organization also focuses on the innovation and development of research products for the benefit of local universities, technical schools, and the wider Milwaukee area. In addition, it supports and houses new and developing businesses engaged in technology development, scientific research, and related activities. The Milwaukee Regional Innovation Center further invests in modifying and rehabilitating a Technology Innovation Center to advance these objectives. The organization is also involved in completing the development of the Milwaukee County Research Park and managing it in accordance with its conventions, conditions, restrictions, and design guidelines, as well as various development agreements with park occupants. In essence, the Milwaukee Regional Innovation Center serves as a catalyst for growth and innovation, promoting entrepreneurship and research development in the region.
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Impact
July, 2024
The Milwaukee Regional Innovation Center's impact is significant in fostering entrepreneurship, driving development, and creating new employment opportunities in the Milwaukee region. It plays a crucial role in encouraging innovation and research product development, benefiting the Milwaukee Regional Medical Center, area universities, technical schools, and the broader community. The organization's support for technology development and scientific research activities contributes to the growth of new and developing businesses in the region. Additionally, by managing the Technology Innovation Center and the Milwaukee County Research Park, the organization actively promotes collaboration and growth in the technology and research sectors.
This information is meant to be a general summary of Milwaukee Regional Innovation Center. 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: $101,030
- Program Service Revenue: $1,029,795
- Gross Receipts: $1,464,262
Assets and Liabilities:
- Total Assets: $7,251,813
- Total Liabilities: $228,617
- Net Assets: $7,023,196
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$958,390
DEVELOPMENT FUND INCOM
Revenue
$71,405
Organization Details
Founding Year
2008
Phone
(414) 778-1400Principal Officer
Mark Johnson
Main Address
10437 INNOVATION DRIVE 123, WAUWATOSA, WI, 53226
NTEE Category
Code: B90 - Education
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