Overview
What is Innovate Washington Foundation?
Innovate Washington Foundation, also known as Ignite Northwest, is a nonprofit organization based in Spokane, Washington. Their primary mission is to bring together innovators, researchers, entrepreneurs, and financial capital to create world-class companies and high-value jobs. By collaborating, convening, and connecting these entities, they aim to form the backbone of the region's future economy. The foundation's activities involve connecting innovators and researchers with the necessary resources to thrive, ultimately contributing to the economic growth of the area. With a modest workforce of three individuals, Innovate Washington Foundation plays a significant role in fostering a vibrant and prosperous local business landscape.
Official website here: www.ignitenorthwest.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Stars)
The Innovate Washington Foundation has received a 77% rating from Charity Navigator, indicating a good level of accountability and finance management. The score is primarily derived from the Accountability & Finance beacon, suggesting that the foundation meets several key standards in these areas. The majority of its board members are independent, which enhances its governance structure and transparency.
The foundation demonstrates strong financial practices, with a high score in areas such as audit and oversight, as well as adherence to policies like conflict of interest and whistleblower protections. Additionally, 66.70% of its expenses are directed towards its programs, reflecting a commitment to its mission and effective use of resources.
However, while the rating is solid, there are opportunities for improvement, particularly in enhancing its program expense ratio to achieve even greater efficiency. Overall, Innovate Washington Foundation shows a strong commitment to accountability and effective financial stewardship.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Innovate Washington Foundation?
100% of reviewers on Facebook recommend Innovate Washington Foundation, with all feedback highlighting positive experiences. Here's a summary of their insights:
Participants praise the program for its rigorous challenges and robust leadership, noting that it's an invaluable resource for startups. They commend the organization for providing access to some of the best mentors in the region, indicating that the guidance offered is beneficial for developing new businesses.
Overall, this nonprofit appears to deliver exceptional support and mentorship, making it a highly regarded option for those looking to advance their startup initiatives. The consistent positive sentiment suggests that many find significant value in the services provided by Innovate Washington Foundation.
This AI summary has been generated from reviews found on Facebook.
Is Innovate Washington Foundation legitimate?
Innovate Washington Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovate Washington 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: $290,412
Professional Fundraising Fees: $0
Other Salaries and Wages: $109,280
For more financial information, click here
Official website here: www.ignitenorthwest.com
What is the mission statement of Innovate Washington Foundation?
The Innovate Washington Foundation serves to bring together innovators, researchers, entrepreneurs, and financial capital to create world-class companies and high-value jobs. This collaboration aims to form the backbone of the region's future economy. By connecting these entities, the foundation hopes to foster the growth of companies that will significantly contribute to the region's economic development. The goal is to provide a conducive environment that nurtures innovation and entrepreneurship, ultimately leading to job creation and economic growth.
Official website here: www.ignitenorthwest.com
Who is the CEO of Innovate Washington Foundation?
Thomas Simpson is the CEO of Innovate Washington Foundation The CEO's salary of Innovate Washington Foundation is $115,021 and their total compensation is $145,442.
Official website here: www.ignitenorthwest.com
What is the revenue of Innovate Washington Foundation?
Innovate Washington Foundation's revenue in 2023 was $814,164.
Official website here: www.ignitenorthwest.com
Who are the executives of Innovate Washington Foundation and what are their salaries?
The average compensation at Innovate Washington Foundation during 2023 was $133,231. There are 3 employees and 11 volunteers at Innovate Washington Foundation.
Here are 7 key members and their salaries (Innovate Washington Foundation's CEO's salary is $115,021 and their total compensation is $145,442):
- Compensation: $115,021
- Related: $0
- Other: $30,421
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $106,486
- Related: $0
- Other: $38,487
Official website here: www.ignitenorthwest.com
Where can I find the form 990 for Innovate Washington Foundation?
Innovate Washington Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ignitenorthwest.com
Learn more at the official website: www.ignitenorthwest.com
Mission Statement of Innovate Washington Foundation
Innovate Washington Foundation plays a pivotal role in connecting innovators and researchers with the necessary entrepreneurial and financial capital. This organization strives to foster the development of world-class companies and high-value jobs, which will ultimately serve as the foundation for the region's future economy. By collaborating, convening, and connecting, Innovate Washington Foundation aims to bridge the gap between groundbreaking ideas and the resources required to bring them to life. This mission is instrumental in propelling the region forward, ensuring a sustainable and prosperous economic landscape.
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Impact
July, 2024
Innovate Washington Foundation plays a crucial role in fostering innovation and economic growth in the region by connecting innovators and researchers with entrepreneurial and financial resources. By supporting the development of world-class companies, they are contributing to the creation of high-value jobs that are essential for the future economy of the region. Their collaborative and convening efforts are pivotal in building a strong foundation for sustainable growth and prosperity in their community.
This information is meant to be a general summary of Innovate Washington 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 2023.
- Investment Income: $11,797
- Program Service Revenue: $697,232
- Gross Receipts: $814,164
Assets and Liabilities:
- Total Assets: $8,489,904
- Total Liabilities: $8,738,740
- Net Assets: -$248,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUILDING LEASE
Revenue
$384,284
INTEREST ON LOAN FUNDS
Revenue
$306,468
EVENT TICKET SALES
Revenue
$6,480
Organization Details
Founding Year
1996
Principal Officer
Thomas Simpson
Website
www.ignitenorthwest.comNTEE Category
Code: T99 - Philanthropy
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