Overview
What is Octane Foundation For Innovation?
Octane Foundation for Innovation, a 501(c)(3) charity based in Newport Beach, California, is dedicated to fostering a conducive environment for the growth of biomedical and information technology sectors. They achieve this by promoting innovation, entrepreneurship, and education in Orange County. The foundation runs various initiatives, such as the Launchpad SBDC, which offers support to early-stage companies through mentoring, coaching, and education. Additionally, they operate a Non-Profit Accelerator, which aids non-profits serving under-represented communities in STEAM and healthcare. The Women Leaders of Octane program aims to boost the influence of women entrepreneurs and business leaders, while the STEAM Fellows program encourages students to explore career opportunities. Lastly, the Next Wave Leaders initiative seeks to engage new generations in the continuous development of Orange County's innovation ecosystem.
Official website here: www.octaneoc.org
Is Octane Foundation For Innovation legitimate?
Octane Foundation For Innovation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Octane Foundation For Innovation 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: $349,137
Professional Fundraising Fees: $0
Other Salaries and Wages: $225,047
For more financial information, click here
Official website here: www.octaneoc.org
What is the mission statement of Octane Foundation For Innovation?
The Octane Foundation for Innovation (OFI) is dedicated to advancing equitable, diverse, and inclusive innovation and entrepreneurship within various industries. Its mission is to bolster the southern California innovation ecosystem by fostering job growth, scaling startups, and developing businesses. OFI aims to contribute to a sustainable ecosystem and enhance the live/work experience, thereby augmenting the economic vitality of the region. By doing so, OFI supports the creation and strengthening of businesses, ultimately contributing to overall economic growth.
Official website here: www.octaneoc.org
What is the revenue of Octane Foundation For Innovation?
Octane Foundation For Innovation's revenue in 2023 was $1,110,270.
Official website here: www.octaneoc.org
Who are the executives of Octane Foundation For Innovation and what are their salaries?
There 301 volunteers at Octane Foundation For Innovation.
Here are 30 key members and their salaries:
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- Compensation: $257,744
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- Other: $5,751
Official website here: www.octaneoc.org
Where can I find the form 990 for Octane Foundation For Innovation?
Octane Foundation For Innovation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.octaneoc.org
Learn more at the official website: www.octaneoc.org
Mission Statement of Octane Foundation For Innovation
The Octane Foundation for Innovation (OFI) is dedicated to driving advancements in biomedical and information technology innovation and entrepreneurship. Its primary objective is to foster equity, diversity, and inclusivity across various industry sectors. By doing so, OFI aims to stimulate job creation, support the growth and strengthening of startups, and develop businesses. Consequently, OFI plays a significant role in enhancing the economic vitality of the region, contributing to a sustainable ecosystem, and improving the live/work experience. The foundation's mission ultimately aims to augment the overall development of the innovation ecosystem in Southern California.
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Impact
October, 2024
The Octane Foundation For Innovation plays a pivotal role in advancing biomedical and information technology innovation and entrepreneurship in Orange County. Its initiatives create a robust environment that fosters growth in both sectors, delivering significant economic and social impacts within the community.
One of the cornerstone programs, Launchpad SBDC, accelerates startups and entrepreneurs by providing tailored mentoring, coaching, and access to critical resources. This program effectively connects emerging businesses with essential capital and technology, which is vital for their success. Additionally, it is part of a larger network that extends support to early-stage biomedical and information technology companies, amplifying their potential to thrive.
The Non-Profit Accelerator empowers organizations serving under-represented communities in STEM and healthcare by equipping them with the tools to enhance their impact. Graduates emerge with a strengthened capacity to uplift the populations they serve, contributing to broader community development.
Women Leaders of Octane specifically addresses the gender gap in entrepreneurship and business leadership by fostering greater involvement of women in the innovation ecosystem. By increasing access to funding and amplifying their influence, this program enhances equity and diversity in the local economy.
Through the STEAM Fellows and Next Wave Leaders initiatives, Octane cultivates the next generation of industry and community leaders. These programs provide practical experiences and engage young individuals in Orange County's innovation ecosystem, promoting a culture of leadership and purpose-driven growth that is essential for the region's long-term vitality.
Overall, the Octane Foundation For Innovation contributes to a sustainable ecosystem, enhances economic vitality, and shapes a thriving community by creating jobs, scaling startups, and strengthening the innovation landscape in Southern California.
This information is meant to be a general summary of Octane Foundation For Innovation. 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 2023.
- Gross Receipts: $1,110,270
Assets and Liabilities:
- Total Assets: $1,259,116
- Total Liabilities: $1,345,576
- Net Assets: -$86,460
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Organization Details
Founding Year
2004
Principal Officer
William Carpou
Website
www.octaneoc.orgNTEE Category
Code: S02 - Community improvement
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