Overview
What is Innovation Development Institute Inc?
Innovation Development Institute Inc, located in Chicago, Illinois, is a nonprofit organization that supports and empowers innovators in the healthcare sector. Through purpose-built curriculums, mentorship from experienced professionals, and state-of-the-art collaboration facilities, the institute equips innovators with the necessary tools to tackle complex healthcare challenges. It fosters a culture of innovation, experimentation, and collaboration, offering inspirational events and a supportive community. The institute also provides its members with access to a diverse network of healthcare innovators and innovative programs designed to enhance collaboration among stakeholders, thereby accelerating the development of solutions for pressing healthcare issues.
Official website here: www.matter.health/
What are the reviews and ratings of this charity?
Charity Navigator Rating 91% - Four-Star out of Four Star rating
Innovation Development Institute Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity scored 91% overall, with notable emphasis on its well-structured governance, evidenced by a fully independent board and robust financial oversight mechanisms. The absence of material asset diversions and the presence of essential policies further enhance its credibility.
The organization demonstrates a solid commitment to transparency, as indicated by its documented policies on conflict of interest, whistleblower protections, and document retention. Additionally, its program expense ratio of 73.52% suggests that a significant portion of its resources is directed towards its mission-driven activities, aligning with best practices in nonprofit financial management.
However, while the charity performs well in many areas, its liabilities to assets ratio of 56.08% may warrant further scrutiny, as it reflects a higher level of liabilities relative to its assets. Overall, the Innovation Development Institute Inc stands out for its strong governance and financial management, making it a reliable choice for donors seeking to support a well-managed nonprofit.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Innovation Development Institute Inc?
98% of 15 reviewers on Facebook recommend Innovation Development Institute Inc. Here is a summary of their reviews:
The organization is highly regarded as an excellent incubator for technology and innovative ideas. Reviewers appreciate the robust mentorship program, which appears to effectively support emerging technologies. Furthermore, the availability of a networking platform is seen as a significant advantage for participants.
Overall, many feel that the pleasant workspace contributes positively to the experience, making it an environment conducive to creativity and collaboration. The consensus highlights that the institute successfully delivers on fostering innovation and providing valuable resources for its members.
This AI summary has been generated from reviews found on Facebook.
Is Innovation Development Institute Inc legitimate?
Innovation Development Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovation Development Institute 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: $1,164,591
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,794,479
For more financial information, click here
Official website here: www.matter.health/
What is the mission statement of Innovation Development Institute Inc?
The Innovation Development Institute Inc, through its initiative MATTER, functions as a community dedicated to utilizing technology to expedite healthcare advancements. Their mission is to empower innovators in the healthcare sector, providing them with resources necessary to tackle complex challenges. This includes a tailored curriculum, mentorship from successful healthcare entrepreneurs, and state-of-the-art collaboration facilities. The Institute fosters an innovative culture, offers inspirational talks, and connects innovators within its community. By granting access to various healthcare stakeholders and offering collaborative programs, the organization aims to accelerate the development of technologies that effectively address healthcare issues.
Official website here: www.matter.health/
Who is the CEO of Innovation Development Institute Inc?
Steven Collens is the Ceo of Innovation Development Institute Inc. The CEO's salary of Innovation Development Institute Inc is $488,924 and their total compensation is $490,281.
Official website here: www.matter.health/
What is the revenue of Innovation Development Institute Inc?
Innovation Development Institute Inc's revenue in 2022 was $5,670,013.
Official website here: www.matter.health/
Who are the executives of Innovation Development Institute Inc and what are their salaries?
The average compensation at Innovation Development Institute Inc during 2022 was $102,037. There are 29 employees and 140 volunteers at Innovation Development Institute Inc.
Here are 34 key members and their salaries (Innovation Development Institute Inc's CEO's salary is $488,924 and their total compensation is $490,281):
- Compensation: $488,924
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- Other: $1,357
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- Other: $757
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- Other: $11,140
- Compensation: $142,212
- Related: $0
- Other: $6,226
- Compensation: $133,634
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Official website here: www.matter.health/
Where can I find the form 990 for Innovation Development Institute Inc?
Innovation Development Institute Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.matter.health/
Learn more at the official website: www.matter.health/
Mission Statement of Innovation Development Institute Inc
Innovation Development Institute Inc, known as MATTER, is a community dedicated to harnessing technology to accelerate the pace of change in healthcare. The organization's mission is to equip, embolden, and empower innovators across the healthcare spectrum. They achieve this by providing a curriculum tailored to their needs, mentors who have built successful healthcare businesses, and state-of-the-art facilities designed for healthcare collaboration.
Matter fosters a culture of innovation, experimentation, and collaboration amongst its members. They offer inspirational keynotes, fireside chats, and panels to further embolden innovators. Moreover, Matter provides a community of like-minded individuals, offering access to innovators from across the healthcare ecosystem. The organization's programming is designed to enhance collaboration between stakeholders, ultimately empowering its members.
In essence, Matter's mission is to accelerate the development of technologies that solve healthcare challenges effectively and innovatively. They facilitate this by bringing together entrepreneurs, innovators, and industry leaders, offering them the tools, mentorship, and environment necessary to thrive in the rapidly evolving healthcare landscape.
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Impact
July, 2024
Innovation Development Institute Inc, operating under the name MATTER, is making a significant impact by fostering a community of innovators focused on accelerating the pace of change in healthcare. By equipping, emboldening, and empowering innovators from various healthcare sectors, MATTER is facilitating the development of technologies that address complex challenges in the healthcare industry. Through a tailored curriculum, mentorship from experienced healthcare professionals, and cutting-edge facilities designed for collaboration, MATTER is providing a platform for innovators to thrive.
Furthermore, by cultivating a culture of innovation, experimentation, and collaboration, MATTER is inspiring and empowering its members to push boundaries and drive positive change in healthcare. By facilitating connections and collaboration between stakeholders in the healthcare ecosystem, MATTER is playing a vital role in enhancing innovation and problem-solving within the industry.
Overall, MATTER's impact can be seen in its efforts to accelerate the development of technologies that effectively address healthcare challenges, ultimately contributing to positive changes in the healthcare sector.
This information is meant to be a general summary of Innovation Development Institute 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: $52,736
- Program Service Revenue: $4,839,803
- Gross Receipts: $5,670,013
Assets and Liabilities:
- Total Assets: $6,495,499
- Total Liabilities: $3,307,015
- Net Assets: $3,188,484
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTNERSHIPS
Revenue
$3,712,383
MEMBERSHIP FEES
Revenue
$1,022,212
EVENTS AND WORKSHOPS
Revenue
$105,208
Organization Details
Founding Year
2013
Phone
(312) 374-8243Principal Officer
Steven Collens
Main Address
222 W MERCHANDISE MART PLZA 1230, CHICAGO, IL, 60654
Website
www.matter.health/NTEE Category
Code: Z99 - Unknown
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