Overview
What is Innovia Foundation?
Innovia Foundation is a community-focused nonprofit organization based in Spokane, Washington. Their mission is to ignite generosity and transform lives and communities. With a team of 24 employees, they aim to address regional issues, help those in need, and identify opportunities through partnerships with like-minded individuals and organizations. Innovia's initiatives include supporting post-high school education and vocational training through their LaunchNW program, which aims to remove financial barriers in Eastern Washington and North Idaho. The 5% Campaign is another initiative where they encourage locals to leave a portion of their future wealth for philanthropic investments, increasing the financial resilience of local communities. Innovia hosts events like the Leadership Summit and Annual Reception, bringing together community leaders from various sectors to discuss important themes, such as economic climate, racial healing, and leadership transfer. The foundation also has Leadership Councils, composed of local community members who provide representation and advocacy for Innovia's work. Additionally, they offer the Cultivating Potential Scholarship Program, providing financial assistance and mentorship to youth seeking to overcome obstacles and reach their full potential.
Official website here: www.innovia.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99% (Four-Star out of Four Star rating)
Innovia Foundation has achieved an impressive overall score of 99% on Charity Navigator, reflecting exceptional performance in accountability and finance. The foundation boasts a perfect score of 100% in this category, showcasing its strong governance, transparency, and sound financial practices. All board members are independent, and the organization adheres to comprehensive policies regarding conflict of interest, whistleblower protection, and document retention, ensuring high ethical standards.
In terms of program impact, Innovia Foundation demonstrates effective resource allocation with a program expense ratio of over 93%, indicating that the majority of funds are directed toward its mission-related activities. The organization also enjoys a strong working capital ratio, suggesting it has ample resources to cover its obligations. However, it should be noted that the fundraising efficiency ratio is lower at $0.012, which may indicate a need for improved fundraising strategies.
The foundation's culture and community score stands at 85%, reflecting its commitment to equity and inclusiveness in its operations. While the organization rates highly in several aspects, continuous improvement in fundraising efficiency could further enhance its overall performance and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Innovia Foundation legitimate?
Innovia Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovia Foundation 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: $600,744
Professional Fundraising Fees: $0
Other Salaries and Wages: $877,352
For more financial information, click here
Official website here: www.innovia.org
What is the mission statement of Innovia Foundation?
The Innovia Foundation is a community-focused organization dedicated to improving lives and communities by partnering with individuals and organizations to address social issues and help those in need. The foundation seeks to address regional problems and identify opportunities for growth, acting as a catalyst for positive change. One of their recent initiatives, LaunchNW, aims to remove financial barriers to post-high school education and vocational training for students in eastern Washington and north Idaho. Additionally, they have launched the 5% Campaign, encouraging people to donate a portion of their future wealth to philanthropic investments, thereby increasing the financial resilience of local communities. The foundation engages community leaders through events like the Leadership Summit and Leadership Councils, fostering collaboration and advocacy for philanthropy. The Cultivating Potential Scholarship program provides financial assistance, life skills training, and mentorship to youth seeking to overcome obstacles and reach their full potential.
Official website here: www.innovia.org
Who is the CEO of Innovia Foundation?
Shelly O'Quinn is the President of Innovia Foundation. The CEO's salary of Innovia Foundation is $240,578 and their total compensation is $274,322.
Official website here: www.innovia.org
What is the revenue of Innovia Foundation?
Innovia Foundation's revenue in 2022 was $30,081,757.
Official website here: www.innovia.org
Who are the executives of Innovia Foundation and what are their salaries?
The average compensation at Innovia Foundation during 2022 was $61,587. There are 24 employees and 300 volunteers at Innovia Foundation.
Here are 17 key members and their salaries (Innovia Foundation's CEO's salary is $240,578 and their total compensation is $274,322):
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- Compensation: $240,578
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- Other: $33,744
- Compensation: $131,335
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- Compensation: $108,730
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- Other: $20,350
Official website here: www.innovia.org
Where can I find the form 990 for Innovia Foundation?
Innovia Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.innovia.org
Learn more at the official website: www.innovia.org
Mission Statement of Innovia Foundation
Innovia Foundation, a community-focused organization, strives to ignite generosity that transforms lives and communities. Established to benefit the regions it serves, Innovia aims to partner with individuals and other organizations in addressing local issues, helping those in need, and identifying and responding to the greatest opportunities.
With a bold vision to remove financial barriers to post-high school education and vocational training, Innovia launched the LAUNCHNW initiative. This ambitious project brings together community partners, offering scholarships and integrated supports from cradle to career. The initiative is already making strides in Spokane County, with plans for expansion to surrounding counties and communities in the coming years.
In addition to its educational efforts, Innovia recognized the substantial wealth transfer anticipated in Eastern Washington and North Idaho by 2029. In response, the 5% Campaign was initiated to capture 5% of this future wealth, approximately $2 billion, into philanthropic investments. These investments aim to increase the financial resilience of local communities. In 2022, the campaign connected regional professional advisors and nonprofit leaders with experts on planned giving and endowment building through a series of free webinars and networking opportunities.
Innovia's Leadership Summit and Annual Reception brought together over 300 nonprofit, business, and community leaders from throughout Eastern Washington and North Idaho. The two-day event engaged powerful speakers and community-building opportunities, focusing on themes such as economic climate, racial healing, transfer of leadership in communities, going 'all in' for children, the power of small moments, and a panel discussion around Innovia's LAUNCHNW initiative.
Leadership Councils play a vital role in Innovia's work by providing representation from throughout its 20-county service area. Council members serve as ambassadors and advisors to the foundation, advocating for philanthropy in general. Each of Innovia's ten leadership councils is composed of 15 local community members who bring on-the-ground experience from a variety of sectors. The councils meet regularly to keep the foundation informed about the needs and opportunities in their communities and help leverage the power of philanthropy for local impact.
Through its Cultivating Potential Scholarship Program, Innovia Foundation provides tuition assistance and mentorship for youth seeking to rise above obstacles that may be preventing them from reaching their full potential. In addition to financial assistance, students participate in life skills training sessions, explore career opportunities, and benefit from peer support that results from the cohort experience.
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Impact
October, 2024
Innovia Foundation ignites generosity to transform lives and communities, focusing on economic and community vitality in Eastern Washington and North Idaho. Through initiatives like LaunchNW, it aims to eliminate financial barriers to post-high school education and vocational training, encouraging a robust collaboration among local partners to provide comprehensive support for students.
The foundation addresses wealth transfer through its 5% Campaign, targeting an estimated $42 billion expected to be bequeathed in the region by 2029. By capturing 5% of that wealth—about $2 billion—Innovia seeks to enhance the financial resilience of local communities through philanthropic investments. This includes ongoing efforts to educate and empower community leaders in planned giving and endowment building.
Innovia's Leadership Summit convenes over 300 local leaders, addressing significant themes such as economic challenges, racial healing, and community commitment to children. The Leadership Councils, composed of local members from various sectors, serve as vital connectors, providing insight into community needs and championing philanthropy.
Furthermore, the Cultivating Potential Scholarship Program offers not only financial assistance but also mentorship and life skills training, helping youth overcome obstacles in their paths to success. Through these multifaceted initiatives, Innovia Foundation plays a pivotal role in forging connected, resilient communities.
This information is meant to be a general summary of Innovia Foundation. 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: $9,020,799
- Program Service Revenue: $297,993
- Gross Receipts: $48,647,659
Assets and Liabilities:
- Total Assets: $167,789,472
- Total Liabilities: $22,687,586
- Net Assets: $145,101,886
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLANEOUS INCOME
Revenue
$297,993
Organization Details
Founding Year
1974
Phone
(509) 624-2606Principal Officer
Shelly O'Quinn
Main Address
818 W RIVERSIDE AVE 650, SPOKANE, WA, 99201
Website
www.innovia.orgNTEE Category
Code: T310 - Philanthropy
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