Nonprofit · EIN 46-1761848
INNOVATION FUND AMERICA INC
Tax-exempt (reinstated) · ELYRIA, OH 44035
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| July 31, 2025 | 990 | $50,000 | $1,792,775 | -$1,742,775 | $68,071 | $7,447,854 | -$7,379,783 |
| July 31, 2024 | 990 | $75,113 | $822,179 | -$747,066 | $1,921 | $5,638,929 | -$5,637,008 |
| July 31, 2023 | 990 | $25,000 | $1,847,538 | -$1,822,538 | $51,629 | $4,941,571 | -$4,889,942 |
Financial details: 990 for the year ended July 31, 2025
Revenue
- Contributions, gifts and grants
- $25,000
- Program service revenue
- $25,000
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,715,000
- Compensation of officers, directors and key employees
- $15,583
- Other salaries and wages
- $13,917
- Salaries, compensation and benefits (total)
- $29,500
- Professional fundraising fees
- $0
- Program services (functional)
- $1,791,522
- Management and general (functional)
- $1,253
Balance sheet and other
- Total assets, start of year
- $1,921
- Total assets, end of year
- $68,071
- Total liabilities, end of year
- $7,447,854
- Net assets, end of year
- -$7,379,783
- Net assets without donor restrictions
- -$7,379,783
- Gross receipts
- $50,000
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2012
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended July 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH MARTIN | TREASURER Trustee or director, Officer | 5 | $15,583 |
| DR ROY A CHURCH | PRESIDENT & CHAIR Trustee or director, Officer | 0.3 | $0 |
| DR MARCIA J BALLINGER | VICE PRESIDENT Trustee or director, Officer | 0.3 | $0 |
| DENNIS COCCO | DIRECTOR Trustee or director | 0.3 | $0 |
| TRACY GREEN | DIRECTOR Trustee or director | 0.3 | $0 |
| JULIE STRAZZO | SECRETARY Trustee or director, Officer | 0.3 | $0 |
| JON VOLPE | DIRECTOR Trustee or director | 0.3 | $0 |
| JIM WALBORN | DIRECTOR Trustee or director | 0.3 | $0 |
990 for the year ended July 31, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH MARTIN | TREASURER Trustee or director, Officer | 5 | $17,000 |
| DR ROY A CHURCH | PRESIDENT & CHAIR Trustee or director, Officer | 0.3 | $0 |
| DR MARCIA J BALLINGER | VICE PRESIDENT Trustee or director, Officer | 0.3 | $0 |
| DENNIS COCCO | DIRECTOR Trustee or director | 0.3 | $0 |
| TRACY GREEN | DIRECTOR Trustee or director | 0.3 | $0 |
| JULIE STRAZZO | SECRETARY Trustee or director, Officer | 0.3 | $0 |
| JON VOLPE | DIRECTOR Trustee or director | 0.3 | $0 |
| JIM WALBORN | DIRECTOR Trustee or director | 0.3 | $0 |
990 for the year ended July 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH MARTIN | TREASURER Trustee or director, Officer | 5 | $17,000 |
| DR ROY A CHURCH | PRESIDENT & CHAIR Trustee or director, Officer | 0.3 | $0 |
| DR MARCIA J BALLINGER | VICE PRESIDENT Trustee or director, Officer | 0.3 | $0 |
| DENNIS COCCO | DIRECTOR Trustee or director | 0.3 | $0 |
| TRACY GREEN | DIRECTOR Trustee or director | 0.3 | $0 |
| JULIE STRAZZO | SECRETARY Trustee or director, Officer | 0.3 | $0 |
| JON VOLPE | DIRECTOR Trustee or director | 0.3 | $0 |
| JIM WALBORN | DIRECTOR Trustee or director | 0.3 | $0 |
Address and contacts
- Address (IRS master file)
- 1005 NORTH ABBE ROAD CC220, ELYRIA, OH 44035-1613
- In care of
- % LCCC FOUNDATION
- Principal officer (990 for 2024)
- DR ROY A CHURCH, 1005 N ABBE RD, ELYRIA, OH 44035
- Signed the 990
- TRACY GREEN, DIRECTOR
- Phone
- (440) 366-4274
- Website
- INNOVATIONFUNDAMERICA.ORG
- Return prepared by
- MALONEY NOVOTNY LLC
Mission
INNOVATION FUND AMERICA IS A NONPROFIT PARTNERING WITH COMMUNITY COLLEGES TO ACCELERATE THE GROWTH OF TECHNOLOGY STARTUPS THROUGH EARLY-STAGE FUNDING AND EDUCATION.
Program accomplishments
- 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.Expenses $1,791,522 · grants $1,715,000 · revenue $25,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in July, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | July 31, 2026 | December 15, 2026 | Not due yet |
| 2024 | July 31, 2025 | December 15, 2025 | 990 on file |
| 2023 | July 31, 2024 | December 16, 2024 | 990 on file |
IRS record
- EIN
- 46-1761848
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- July
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $68,071
- Income (IRS master file)
- $50,000
Revocation and reinstatement
- Exemption revoked
- December 15, 2015
- Posted by the IRS
- April 11, 2016
- Reinstated
- Effective December 15, 2015
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | July 2025 | $50,000 | $1,792,775 | $68,071 | XML |
| 990 | July 2024 | $75,113 | $822,179 | $1,921 | XML |
| 990 | July 2023 | $25,000 | $1,847,538 | $51,629 | XML |
| 990 | July 2022 | $25,000 | $438,061 | $210,364 | IRS |
| 990 | July 2021 | – | – | – | IRS |
| 990 | July 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-1761848).
Questions about INNOVATION FUND AMERICA INC
- What is the EIN of INNOVATION FUND AMERICA INC?
- The employer identification number (EIN) of INNOVATION FUND AMERICA INC is 46-1761848.
- Is INNOVATION FUND AMERICA INC tax-exempt?
- Yes. The IRS revoked its exemption on December 15, 2015 and reinstated it effective December 15, 2015.
- Are donations to INNOVATION FUND AMERICA INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INNOVATION FUND AMERICA INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INNOVATION FUND AMERICA INC due?
- The return for tax year 2025 (the year ending July 31, 2026) is due December 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INNOVATION FUND AMERICA INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended July 2025.
- Who is the principal officer of INNOVATION FUND AMERICA INC?
- The 990 for the year ended July 31, 2025 names DR ROY A CHURCH.
- Who are the officers and directors of INNOVATION FUND AMERICA INC?
- The 990 for the year ended July 31, 2025 lists 8 people; 1 received compensation from the organization, the highest $15,583 (JOSEPH MARTIN, TREASURER).
- How much revenue does INNOVATION FUND AMERICA INC have?
- On its 990 for the year ended July 31, 2025 it reported revenue of $50,000, expenses of $1,792,775 and total assets of $68,071 at year end.
Other nonprofits in ELYRIA
- LORAIN COUNTY COMMUNITY DEVELOPMENT CORPORATION EIN 30-1292270 · last filed 990 for 2025
- ELYRIA COMMUNITY PARTNERSHIP EIN 87-2674012 · last filed 990 for 2025
- OHIO ASSOCIATION OF PUPIL SERVICE ADMINISTRATORS EIN 46-1792366 · last filed 990 for 2025
- ELYRIA COMMUNITY IMPROVEMENT CORPORATION EIN 47-2250959 · last filed 990 for 2025
- OHIO FUEL CELL COALITION INC EIN 03-0522593 · last filed 990 for 2025
- CLEVELAND PROFESSIONAL 20 30 CLUB EIN 34-1951507 · last filed 990-EZ for 2024
- WESLEYAN SENIOR CARE INC EIN 83-4710426 · last filed 990 for 2025
- OPEN DOOR CHRISTIAN SCHOOLS INC EIN 34-1196802 · last filed 990 for 2025
All nonprofits in ELYRIA · Ohio · Community improvement and capacity building