Overview
What is Missouri Innovation Center Inc?
Missouri Innovation Center Inc is a nonprofit organization situated in Columbia, Missouri. Their primary goal is to support entrepreneurs in launching new ventures, aiming to enhance lives and stimulate economic growth in mid-Missouri. They accomplish this by engaging with 17 resident and 12 non-resident clients, operating an incubator space, and collecting rents to cover operational costs. Three companies have successfully graduated from their incubation program. Moreover, Missouri Innovation Center assists entrepreneurs in securing grants and private equity capital. Their clients have managed to raise an impressive total of $17.9 million in private capital and $3 million in government grants (SBIR/STTR funds). This collaborative effort has resulted in the creation of 40 direct jobs and an additional 40 indirect jobs within the local community.
Official website here: www.missouriinnovation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Missouri Innovation Center Inc has received a commendable Four-Star rating from Charity Navigator, showcasing its strong performance in the area of Accountability & Finance. This rating is based entirely on their high score of 96 in this category, emphasizing the organization's commitment to transparent practices and sound financial management.
The organization boasts a fully independent board, with all eight members meeting the criteria for independence. Furthermore, Missouri Innovation Center Inc has demonstrated excellent oversight through its audit and oversight committee, and there are no reported issues with the diversion of assets. Their financial health is underscored by a low liabilities to assets ratio of 19.61% and an impressive program expense ratio of 96.25%, indicating that a significant portion of their funds is directed towards their mission-driven programs.
Overall, while the organization excels in financial accountability and governance, the available data does not highlight specific program outcomes or community impact, which could further enhance the understanding of its effectiveness. However, their strong financial practices suggest a solid foundation for ongoing operations and mission fulfillment.
This AI summary has been generated from information found on Charity Navigator.
Is Missouri Innovation Center Inc legitimate?
Missouri Innovation Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Missouri Innovation Center Inc 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: $187,937
Professional Fundraising Fees: $0
Other Salaries and Wages: $93,347
For more financial information, click here
Official website here: www.missouriinnovation.com
What is the mission statement of Missouri Innovation Center Inc?
Missouri Innovation Center Inc's mission is centered around supporting entrepreneurs in Mid Missouri as they develop high-growth ventures. The primary goal is to enhance lives and stimulate economic growth. The organization achieves this by nurturing entrepreneurs, providing assistance in launching new ventures, and operating an incubator space. Missouri Innovation Center Inc has worked with 17 resident clients and 12 non-resident clients, collecting rents from the companies to offset incubator space costs. The center has also facilitated the graduation of three companies from its incubation program. Beyond incubation, Missouri Innovation Center Inc assists entrepreneurs in securing grants and equity capital. Their clients have successfully raised $17.9 million in private capital and $3 million in governmental capital through SBIR/STTR grants. As a result, these client companies have created 40 direct jobs and an additional 40 indirect jobs, contributing to the overall economic growth.
Official website here: www.missouriinnovation.com
Who is the CEO of Missouri Innovation Center Inc?
Quinten Messbarger is the Chairman of Missouri Innovation Center Inc. The CEO's salary of Missouri Innovation Center Inc is $0 and their total compensation is $0.
Official website here: www.missouriinnovation.com
What is the revenue of Missouri Innovation Center Inc?
Missouri Innovation Center Inc's revenue in 2022 was $697,561.
Official website here: www.missouriinnovation.com
Who are the executives of Missouri Innovation Center Inc and what are their salaries?
There 18 volunteers at Missouri Innovation Center Inc.
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Official website here: www.missouriinnovation.com
Where can I find the form 990 for Missouri Innovation Center Inc?
Missouri Innovation Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.missouriinnovation.com
Learn more at the official website: www.missouriinnovation.com
Mission Statement of Missouri Innovation Center Inc
Missouri Innovation Center Inc, a nonprofit organization, is dedicated to nurturing entrepreneurs as they develop high-growth ventures in mid-Missouri. Their mission is to contribute to the betterment of lives and stimulate economic growth by providing support to these entrepreneurs. The center assists in launching new ventures, engaging with 17 resident clients and 12 non-resident clients. Additionally, Missouri Innovation Center Inc operates an incubator space, collecting rents from the companies to offset the costs of running the space. They have successfully graduated three companies from their incubation program.
Beyond launching new ventures, Missouri Innovation Center Inc also aids entrepreneurs in raising both private and government capital. Their clients have managed to secure $17.9 million in private capital and $3 million in government grants (SBIR/STTR grants). This financial support has resulted in the creation of 40 actual jobs and an additional 40 indirect jobs by the client companies. Missouri Innovation Center Inc plays a crucial role in supporting entrepreneurs in mid-Missouri, contributing to the growth of the local economy and the improvement of lives through innovative ventures.
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Impact
July, 2024
Missouri Innovation Center Inc's impact can be seen in the nurturing of entrepreneurs creating high-growth ventures in Mid Missouri, resulting in improved lives and economic growth. The center assists entrepreneurs in launching new ventures, with 17 resident clients and 12 non-resident clients engaged. Through its operations of an incubator space, Missouri Innovation Center collects rents from companies, offsetting costs. Three companies have graduated from the incubation program. Additionally, the center helps entrepreneurs raise grants and equity capital, with clients securing $17.9 million in private capital and $3 million in government capital. Client companies have created 40 actual jobs and an additional 40 indirect jobs, contributing to community improvement in Columbia, MO.
This information is meant to be a general summary of Missouri Innovation Center Inc. 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: $11,109
- Program Service Revenue: $625,452
- Gross Receipts: $697,561
Assets and Liabilities:
- Total Assets: $937,896
- Total Liabilities: $158,553
- Net Assets: $779,343
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCUBATOR RENTAL SERVI
Revenue
$439,960
MTC CONTRACT INCOME
Revenue
$159,860
INCUBATOR TENANT SERVI
Revenue
$25,632
Organization Details
Founding Year
1984
Phone
(573) 884-0496Principal Officer
Quinten Messbarger
Main Address
1601 S PROVIDENCE RD, COLUMBIA, MO, 65211
Website
www.missouriinnovation.comNTEE Category
Code: S43 - Community improvement
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