2024-06-12T07:34:50-05:00 2023-07-31 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2022-08-01 461761848 INNOVATION FUND AMERICA INC INNO 4403664274 1005 NORTH ABBE ROAD CC220 ELYRIA OH 44035 TRACY GREEN DIRECTOR 4403664274 2024-06-11 1 TRACY GREEN 999009999 0 CHRISTOPHER B ANDERSON P00226559 2163630100 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR ROY A CHURCH 1005 N ABBE RD ELYRIA OH 44035 25000 0 X INNOVATIONFUNDAMERICA.ORG X 2012 OH PARTNERING WITH COMMUNITY COLLEGES TO ACCELERATE THE GROWTH OF TECHNOLOGY STARTUPS THROUGH EARLY-STAGE FUNDING AND EDUCATION. 8 8 0 0 0 0 25000 25000 0 0 0 0 0 0 25000 25000 325000 1745000 0 0 13826 27274 0 0 0 99235 75264 438061 1847538 -413061 -1822538 210364 51629 3277768 4941571 -3067404 -4889942 X INNOVATION FUND AMERICA IS A NONPROFIT PARTNERING WITH COMMUNITY COLLEGES TO ACCELERATE THE GROWTH OF TECHNOLOGY STARTUPS THROUGH EARLY-STAGE FUNDING AND EDUCATION. 0 0 1846513 1745000 0 INNOVATION FUND AMERICA INC. ("IFA INC.") ASPIRES TO DEVELOP AND ADMINISTER ACTIVITIES AND PROGRAMS DESIGNED TO EDUCATE STUDENTS AND ENTREPRENEURS, COMBAT COMMUNITY DETERIORATION, RELIEVE POVERTY, AND LESSEN THE BURDENS OF THE GOVERNMENT THROUGH STIMULATING ECONOMIC DEVELOPMENT IN SELECT COMMUNITIES ACROSS THE UNITED STATES ("IFA COMMUNITIES"). IT ACCOMPLISHES THIS THROUGH CREATING AN ENTREPRENEURIAL CLIMATE THAT FOSTERS, CREATES AND EXPANDS EMPLOYMENT OPPORTUNITIES IN THOSE COMMUNITIES THROUGH THE RECRUITMENT AND EDUCATION OF ORGANIZATIONS AND ENTREPRENEURS WORKING WITH RELATED ENTERPRISES WITHIN THOSE COMMUNITIES. IFA INC. PROVIDES ASSISTANCE IN THE FUNDING OF AND UNDERTAKING ACTIVITIES WHICH WILL LESSEN THE BURDENS OF GOVERNMENT IN RELATION TO THE DEVELOPMENT OF ENTREPRENEURIAL ENTERPRISES IN IFA COMMUNITIES IN CONJUNCTION WITH PRIVATE AND PUBLIC INVESTMENTS AND CONTRIBUTIONS BY PHILANTHROPIC ORGANIZATIONS AND FEDERAL, STATE, AND LOCAL GOVERNMENTS. IFA INC. PROVIDES APPROPRIATE COUNSEL OR ASSISTANCE IN ADVISORY SERVICES WHICH WILL PROMOTE AND NURTURE THE FORMATION AND DEVELOPMENT OF ENTREPRENEURIAL BUSINESSES AND CAPACITY IN IFA COMMUNITIES AND PROMOTING THE WELFARE OF IFA COMMUNITIES BY SERVING AS A NATIONAL LEADER FOR INNOVATION, EDUCATION, AND TRAINING IN ENTREPRENEURIAL BUSINESS. 1846513 1 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 OH X JOSEPH MARTIN 4403664274 1005 NORTH ABBE ROAD ELYRIA OH 44035 DR ROY A CHURCH PRESIDENT & CHAIR 0.30 X X 0 0 0 DR MARCIA J BALLINGER VICE PRESIDENT 0.30 X X 0 0 0 DENNIS COCCO DIRECTOR 0.30 X 0 0 0 TRACY GREEN DIRECTOR 0.30 X 0 0 0 JULIE STRAZZO SECRETARY 0.30 X X 0 0 0 JOSEPH MARTIN TREASURER 5.00 X X 17000 0 0 JON VOLPE DIRECTOR 0.30 X 0 0 0 JIM WALBORN DIRECTOR 0.30 X 0 0 0 17000 0 0 0 0 0 0 0 25000 25000 25000 0 0 0 1745000 1745000 17000 17000 10274 9249 1025 2765 2765 6890 6890 1492 1492 821 821 53807 53807 1897 1897 OPERATIONAL EXPENSES 5981 5981 BACKGROUND CHECKS 916 916 BANK FEES 695 695 1847538 1846513 1025 0 210364 51629 210364 51629 124047 142746 3153721 4798825 3277768 4941571 X -3067404 -4889942 -3067404 -4889942 210364 51629 -1822538 0 X 1 X 0 0 0 X 25000 25000 50000 25000 25000 50000 50000 50000 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: FIN 48/ASC 740 FOOTNOTE - INCOME TAXES: IFA IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) AS A NON-GOVERNMENTAL NON-PROFIT ENTITY UNDER PROVISIONS OF THE INTERNAL REVENUE CODE. IFA HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170 OF THE INTERNAL REVENUE CODE. IFA BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. AS OF JULY 31, 2023, IFA'S INCOME TAX YEARS FROM 2019 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. 1 NEVERENDING INC 1515 EAST 108TH ST CLEVELAND OH 44106 844447943 100000 0 START-UP FUNDING ROOSENSE LLC 440 STONEHURST DRIVE COPLEY OH 44321 823012622 100000 0 START-UP FUNDING CARE BLOOM LLC 3401 ENTERPRISE PARKWAY STE 205 BEACHWOOD OH 44122 853535147 150000 0 START-UP FUNDING MIC MONITOR LLC DBA CORROLYTICS 440 STONEHURST DRIVE AKRON OH 44321 850849805 50000 0 START-UP FUNDING ZSENSE SYSTEMS LLC 526 S MAIN STREET AKRON OH 44311 853538214 50000 0 START-UP FUNDING SIVAD MARKETING LTD 4013 HINSDALE ROAD CLEVELAND OH 44121 272142211 20000 0 START-UP FUNDING CONTENT STATUS LLC 9660 EXECUTIVE CT MENTOR OH 44060 832981895 150000 0 START-UP FUNDING MY HOME PARK INC 600 FALLS ROAD CHAGRIN FALLS OH 44022 872856169 150000 0 START-UP FUNDING NEOINDICATE LLC 52275 GRIGGS ROAD WELLINGTON OH 44090 850631519 150000 0 START-UP FUNDING CAVALRY TRANSPORT LLC 28326 W OAKLAND RD BAY VILLAGE OH 44140 831648622 50000 0 START-UP FUNDING DENTEMP LLC 22586 LENOX DRIVE FAIRVIEW PARK OH 44126 830997321 50000 0 START-UP FUNDING OCTET SCIENTIFIC INC 7100 EUCLID AVE STE 175 CLEVELAND OH 44103 815131124 150000 0 START-UP FUNDING COURTESY CUP LLC 7820 NEWGATE AVE NW NORTH CANTON OH 44720 872494144 25000 0 START-UP FUNDING COAG CO LLC 35974 SOLON ROAD BENTLEYVILLE OH 44022 464816737 100000 0 START-UP FUNDING ANEMED INC 11000 CEDAR AVE CLEVELAND OH 44106 843936151 150000 0 START-UP FUNDING RH2 LLC 6077 FAR HILLS AVE 194 CENTERVILLE OH 45459 874810378 50000 0 START-UP FUNDING INCAEDIUM INITIATIVE CORPORATION 21694 KENWOOD AVE ROCKY RIVER OH 44116 843442439 150000 0 START-UP FUNDING UAVISTAS LLC 1528 GLENMONT ROAD EAST CLEVELAND OH 44118 843822257 50000 0 START-UP FUNDING TRANCE MEDICAL LLC 34 W FEDERAL ST UNIT 303 YOUNGSTOWN OH 44503 883216460 50000 0 START-UP FUNDING 0 19 PART I, LINE 2: INNOVATION FUND AMERICA INC. ("IFA INC.") ENSURES THAT ITS FUNDS ARE USED FOR INTENDED PURPOSES BY REQUIRING APPLICANTS TO SUBMIT AN APPLICATION WHICH FULLY DESCRIBES THE PROJECT THAT WILL BE FUNDED. IFA INC. REGULARLY CHECKS WITH THE RECIPIENTS TO ASSESS THEIR PROGRESS AND TO OBTAIN ASSURANCES THE FUNDS HAVE BEEN USED IN THE MANNER DESCRIBED IN THEIR APPLICATIONS. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - THE ORGANIZATION'S PROFESSIONAL STAFF AND MANAGEMENT REVIEWED FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - ANNUALLY, THE BOARD OF DIRECTORS IS REQUIRED TO REVIEW AND SIGN THE OATH OF OFFICE CONTRACT THAT ADDRESSES THE CONFLICT OF INTEREST POLICY. WHEN A CONFLICT ARISES, THE PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE PROPOSED TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT POLICY, AND REVIEWED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.