2024-05-15T13:35:24-05:00 2023-12-31 631133963 Haynes Downard LLP 3161 Cahaba Heights Road Suite 203 Birmingham AL 35243 990 2023-01-01 630917530 Innovation Depot Inc INNO 2052508010 1500 1st Ave North Birmingham AL 35203 Brooke Gillis CEO 2052508010 2024-05-11 1 Brooke Gillis 999009999 1 Lewis F Jones Jr P00013592 2052781000 2024-05-11 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z Brooke Gillis 1500 1st Ave North Birmingham AL 35203 5731968 0 X www.innovationdepot.org X 1985 AL To incubate and accelerate tech & bio-focused, high growth businesses by providing teams with a proven blueprint for success, support in strategic areas, and access to an inclusive and supportive community. We add value by being a catalyst for growth to our members, partners, and community. 12 11 10 20 0 0 69000 3358643 1111893 2357660 138 11232 1396 4433 1182427 5731968 0 0 0 0 322120 797834 0 0 79786 1437970 2435943 1760090 3233777 -577663 2498191 14237950 16239208 4164754 3667821 10073196 12571387 X To incubate and accelerate tech & bio-focused, high growth businesses by providing teams with a proven blueprint for success, support in strategic areas, and access to an inclusive and supportive community. We add value by being a catalyst for growth to our members, partners, and community. 0 0 2664655 2362093 Innovation Depot is a business incubation program operating in partnership with the University of Alabama at Birmingham. The program is housed in a 140,000 square foot facility that focuses on the development and growth of emerging biotech/life science, information technology, engineering technology, and business service companies. The program provides an opportunity for these businesses to develop, grow, and succeed by offering management assistance, identifying financing alternatives, and providing a business incubation center. Funding is provided by the Birmingham regional business community, the Community Foundation of Greater Birmingham, UAB, the city of Birmingham, and other private foundations. 2664655 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 18 0 10 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 AL X X Brooke Gillis 2052508010 1500 1st Ave North Birmingham AL 35203 Childs James Board member 1.00 X 0 0 0 Geisen Jonathan Board member 1.00 X 0 0 0 McDonald John Board member 1.00 X 0 0 0 McGlaun Scott Board member 1.00 X 0 0 0 Owen John Board member 1.00 X 0 0 0 Price Gene Board member 1.00 X 0 0 0 Simth Lee Board member 1.00 X 0 0 0 Watts Ray Board member 1.00 X 0 0 0 Wright Will Vice Chair 3.00 X X 0 0 0 Girvin Josh Chair 3.00 X X 0 0 0 Goodrich Bebe Immediate Past Chair 3.00 X X 0 0 0 Gillis Brooke CEO 40.00 X 254334 0 0 254334 0 0 1 0 1 0 0 2526000 832643 3358643 Rental income to start 900099 2296986 2296986 Tenant reimbursement o 900099 60674 60674 2357660 9182 9182 2050 0 2050 2050 2050 Miscellaneous income 900099 4433 4433 4433 5731968 2362093 0 11232 X 254334 190750 38150 25434 448795 336597 67318 44880 43552 32663 6533 4356 51153 38364 7673 5116 31889 31889 92627 92627 35599 35599 21582 21582 42893 42893 673044 673044 551 551 139271 139271 583837 583837 41896 41896 Repairs and maintenance 628135 560951 67184 Postage 58562 58562 Voltage programming 45790 45790 Events 18872 18872 21395 4837 16558 3233777 2664655 489336 79786 792742 514489 175290 2664285 25000 10124 41029 28356 27184 5775 21002749 8042732 13118394 12960017 58311 56162 14237950 16239208 61369 52722 4103385 3615099 4164754 3667821 X 10073196 10045387 2526000 10073196 12571387 14237950 16239208 2498191 0 X X 0 1 X 1 0 X 590499 69000 3358643 4018142 2567232 1111893 2362093 6041218 3157731 1180893 5720736 10059360 0 0 0 10059360 241 138 9182 9561 241 138 9182 9561 3157972 1181031 5729918 10068921 0.99910 0.99990 0.00090 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19422988 7030557 12392431 1579761 1012175 567586 12960017 Accrued expenses 11199 Security deposits 142084 CARES Act - PPP funds 70859 Loans/Notes payable 3390957 3615099 0 0 0 1 0 0 0 0 0 Gillis Brooke CEO 254334 0 0 0 0 0 0 0 0 0 254334 0 0 0 Form 990, Part VI, Section B, line 11b The Board of Directors receive a full copy of the Form 990 for review prior to the return being filed. Form 990, Part VI, Section B, line 12c The organization requires board members to annually review for conflicts of interest. Members are required to remove conflict or resign position. Form 990, Part VI, Section B, line 15 Board evaluates and approves compensation for the executive director and approves ranges for all others. Form 990, Part VI, Section C, line 19 Documents available to the public, upon request. Form 990, Part IX, line 24e Bank charges: Program service expenses 2,688. Management and general expenses 5,709. Fundraising expenses 0. Total expenses 8,397. Taxes and licenses: Program service expenses 0. Management and general expenses 6,261. Fundraising expenses 0. Total expenses 6,261. Dues and subscriptions: Program service expenses 0. Management and general expenses 4,588. Fundraising expenses 0. Total expenses 4,588. Amortization: Program service expenses 2,149. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,149. Form 990, Page XII, Part XII, Line 2c The Organization has not changed its oversight process or selection process related to the audit from the prior year. Entrepreneurial Center 1500 1st Avenue North Birmingham AL 35203 Holding company AL