Nonprofit · EIN 91-1726442
INNOVATE WASHINGTON FOUNDATION
Tax-exempt · SPOKANE, WA 99201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $944,051 | $1,079,172 | -$135,121 | $8,589,866 | $9,353,600 | -$763,734 |
| December 31, 2023 | 990 | $814,164 | $1,136,223 | -$322,059 | $8,526,138 | $9,154,751 | -$628,613 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $131,950
- Program service revenue
- $804,988
- Investment income
- $6,676
- Other revenue
- $437
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $331,291
- Other salaries and wages
- $40,734
- Salaries, compensation and benefits (total)
- $397,216
- Professional fundraising fees
- $0
- Accounting fees
- $28,281
- Occupancy
- $20,736
- Travel
- $5,325
- Depreciation
- $154,261
- Program services (functional)
- $787,146
- Management and general (functional)
- $292,026
Balance sheet and other
- Total assets, start of year
- $8,526,138
- Total assets, end of year
- $8,589,866
- Total liabilities, end of year
- $9,353,600
- Net assets, end of year
- -$763,734
- Land, buildings and equipment
- $3,983,112
- Net assets without donor restrictions
- -$763,734
- Gross receipts
- $944,051
- Employees
- 2
- Volunteers
- 11
- Year formed
- 1996
- State of legal domicile
- WA
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS SIMPSON | CEO Trustee or director, Officer | 40 | $136,366 | $32,217 |
| APRIL STOLTZ | CFO Officer | 40 | $122,628 | $40,085 |
| RICHARD DENENNY | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SKYE HENDERSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| SHELLY COLOMB | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TYLER LAFFERTY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD REPP | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS SIMPSON | CEO Trustee or director, Officer | 40 | $115,021 | $30,421 |
| APRIL STOLTZ | CFO Officer | 40 | $106,486 | $38,487 |
| RICHARD DENENNY | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SKYE HENDERSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| SHELLY COLOMB | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TYLER LAFFERTY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD REPP | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 518 W RIVERSIDE AVE STE 203, SPOKANE, WA 99201-0522
- In care of
- % JEFF WHITE
- Principal officer (990 for 2024)
- THOMAS SIMPSON, 518 W RIVERSIDE 203, SPOKANE, WA 99201
- Signed the 990
- THOMAS SIMPSON, CEO
- Phone
- (509) 953-2989
- Website
- WWW.IGNITENORTHWEST.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
INNOVATE WASHINGTON FOUNDATION COLLABORATES, CONVENES AND CONNECTS INNOVATORS AND RESEARCHERS WITH ENTREPRENEURIAL AND FINANCIAL CAPITAL NEEDS TO PRODUCE WORLD-CLASS COMPANIES AND HIGH-VALUE JOBS THAT WILL FORM THE BACKBONE OF THE REGION'S FUTURE ECONOMY.
Program accomplishments
- IGNITE NORTHWEST LEASES OUT SPACE IN THE SPOKANE TECHNOLOGY CENTER, A MULTI-PURPOSE FACILITY THAT IS PART OF THE LARGER TECHNOLOGY AND INNOVATION ECOSYSTEM IN SPOKANE SUPPORTING STARTUP COMPANIES.Expenses $472,406 · revenue $388,717
- THE TECHNOLOGY AND EMERGING GROWTH LOAN FUNDS HELP PROMISING STARTUPS EXPAND AND BRING INNOVATIVE PRODUCTS TO MARKET BY PROVIDING NON-DILUTIVE DEBT FINANCING TO COMPANIES THAT HAVE LIMITED ACCESS TO CONVENTIONAL BANK FINANCING. THE FUNDS PROVIDE A BRIDGE TO CONVENTIONAL FINANCING, ECONOMIC SUCCESS AND JOB CREATION. LOANS RANGE FROM $100,000 TO $500,000.Expenses $181,389 · revenue $412,671
- IGNITE NORTHWEST ACCELERATES STARTUPS THROUGH A VARIETY OF PROGRAMS DESIGNED TO STIMULATE THE FORMATION OF NEW COMPANIES AND EVENTS FEATURING SUCCESSFUL ENTREPRENEURS, SUBJECT MATTER EXPERTS ON TOPICS OF INTEREST TO EMERGING COMPANIES AND ANGEL, VENTURE AND PRIVATE EQUITY INVESTORS.Expenses $133,351 · revenue $3,600
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 91-1726442
- 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
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $8,589,866
- Income (IRS master file)
- $944,051
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $944,051 | $1,079,172 | $8,589,866 | XML |
| 990 | December 2023 | $814,164 | $1,136,223 | $8,526,138 | XML |
| 990 | December 2022 | $1,197,636 | $1,090,314 | $8,489,904 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 91-1726442).
Questions about INNOVATE WASHINGTON FOUNDATION
- What is the EIN of INNOVATE WASHINGTON FOUNDATION?
- The employer identification number (EIN) of INNOVATE WASHINGTON FOUNDATION is 91-1726442.
- Is INNOVATE WASHINGTON FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to INNOVATE WASHINGTON FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INNOVATE WASHINGTON FOUNDATION 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 INNOVATE WASHINGTON FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INNOVATE WASHINGTON FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INNOVATE WASHINGTON FOUNDATION?
- The 990 for the year ended December 31, 2024 names THOMAS SIMPSON.
- Who are the officers and directors of INNOVATE WASHINGTON FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 7 people; 2 received compensation from the organization, the highest $136,366 (THOMAS SIMPSON, CEO).
- How much revenue does INNOVATE WASHINGTON FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $944,051, expenses of $1,079,172 and total assets of $8,589,866 at year end.
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