Overview
What is Delaware Innovation Space Inc?
Delaware Innovation Space Inc, based in Wilmington, Delaware, is a nonprofit organization with a mission to support the growth of science-based start-up businesses and new ventures. Established in response to the state's recognition of the need for high-quality incubation services, their aim is to strengthen Delaware's communities by retaining talented individuals, increasing job opportunities, and fostering positive change in the state. They accomplish this by collaborating with entrepreneurs and visionaries, creating a world-leading innovation ecosystem with access to state-of-the-art facilities, skilled personnel, tools, equipment, training, and services. The Delaware Innovation Space Inc aims to accelerate the formation and growth of these businesses, promoting an industrially and market-relevant environment.
Official website here: www.innovationspace.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Delaware Innovation Space Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored 96% in its Accountability & Finance metrics, indicating a high level of transparency and effectiveness in utilizing its resources.
The nonprofit demonstrates a solid governance structure with 85% of its board members being independent, ensuring that decisions are made in the best interest of the organization. Additionally, it has received full scores in various areas, including its conflict of interest policy and financial statements oversight, which attest to its robust operational practices.
While the organization has shown impressive metrics, including a program expense ratio of 83.79%, which signifies that a significant portion of its funds is directed towards its programs, continuous monitoring of its financial health and operational effectiveness will be essential for sustained performance. Overall, the Delaware Innovation Space Inc stands out for its integrity and responsible financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Delaware Innovation Space Inc legitimate?
Delaware Innovation Space Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Delaware Innovation Space 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.innovationspace.org
What is the mission statement of Delaware Innovation Space Inc?
Delaware Innovation Space Inc is dedicated to accelerating the formation and growth of science-based startup businesses and new ventures. They achieve this by collaborating with entrepreneurs and visionaries, aiming to establish a world-leading industrially and market-relevant innovation ecosystem. This ecosystem provides access to state-of-the-art facilities, skilled individuals, tools, equipment, training, and services. The primary goal is to help innovative STEM initiatives thrive, thereby strengthening communities by retaining talented individuals, increasing job opportunities, and fostering positive change.
Official website here: www.innovationspace.org
Who is the CEO of Delaware Innovation Space Inc?
William D Provine is the Director/Cha of Delaware Innovation Space Inc.
Official website here: www.innovationspace.org
What is the revenue of Delaware Innovation Space Inc?
Delaware Innovation Space Inc's revenue in 2022 was $6,030,856.
Official website here: www.innovationspace.org
Who are the executives of Delaware Innovation Space Inc and what are their salaries?
Here are 12 key members and their salaries:
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- Related: $340,489
- Other: $61,946
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- Related: $191,470
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- Related: $116,163
- Other: $37,178
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- Related: $114,118
- Other: $41,280
- Compensation: $0
- Related: $103,618
- Other: $8,872
Official website here: www.innovationspace.org
Where can I find the form 990 for Delaware Innovation Space Inc?
Delaware Innovation Space Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.innovationspace.org
Learn more at the official website: www.innovationspace.org
Mission Statement of Delaware Innovation Space Inc
Delaware Innovation Space Inc, a nonprofit organization, is committed to accelerating the formation and growth of science-based startup businesses and new ventures. They achieve this by collaborating with entrepreneurs and visionaries, aiming to establish a world-leading industrially and market-relevant innovation ecosystem. This ecosystem provides access to state-of-the-art facilities, skilled individuals, tools, equipment, training, and services. The ultimate goal of Delaware Innovation Space Inc is to strengthen communities by retaining talented individuals, creating job opportunities, and fostering positive change within the state.
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Impact
July, 2024
Delaware Innovation Space Inc is making a significant impact by accelerating the formation and growth of science-based startup businesses and new ventures. By collaborating with entrepreneurs and visionaries, they are creating a world-leading industrially and market-relevant innovation ecosystem. Through access to state-of-the-art facilities, people, tools, equipment, training, and services, they are empowering innovative STEM initiatives within Delaware.
This impact is evident in the strengthening of Delaware's communities through the retention of talented individuals, increased job opportunities, and positive change within the state. Delaware Innovation Space Inc's dedication to fostering innovation and supporting startups is not only benefiting the local economy but also contributing to the advancement of cutting-edge technologies and solutions.
This information is meant to be a general summary of Delaware Innovation Space 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: $458,109
- Program Service Revenue: $3,332,531
- Gross Receipts: $6,355,462
Assets and Liabilities:
- Total Assets: $38,897,802
- Total Liabilities: $5,667,871
- Net Assets: $33,229,931
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EARLY STAGE INCUBATOR PROGRAM
Revenue
$3,046,343
EQUIPMENT UTILILIZATION
Revenue
$286,188
Organization Details
Founding Year
2017
Phone
(302) 200-8600Principal Officer
William D Provine
Main Address
200 POWDER MILL ROAD BUILDING 500, WILMINGTON, DE, 19803
Website
www.innovationspace.orgNTEE Category
Code: S40 - Community improvement
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