Civic Intelligence

Delaware Innovation Fund

990 • Fiscal year 2015 • EIN 23-2799695

Jan 01, 2015 to Dec 31, 2015 • Filed on May 16, 2016

Organization ProfileWWW.DIFONLINE.COM
1601 Concord Pike Suite 82-84Wilmington, DE 19803

(302) 777-1616

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

7th percentile

-57%

Higher net margin than 7% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

8th percentile

-54%

Faster asset growth than 8% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

100th percentile

2460586%

Faster revenue growth than 100% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$386,704

Down $457,967 (-54%) from 2014

Net Assets

Down

$386,704

Down $97,443 (-20%) from 2014

Liabilities

Down

$0

Down $360,524 (-100%) from 2014

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin7th percentile

Revenue

Up

$172,248

Up $172,241 (+2460586%) from 2014

Expenses

Up

$269,691

Up $66,934 (+33%) from 2014

Net Income

Up

-$97,443

Up $105,307 (+52%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,920,868Liabilities 2010: $597,500Net Assets 2010: $1,323,3682010Assets 2011: $1,697,764Liabilities 2011: $610,000Net Assets 2011: $1,087,7642011Assets 2012: $1,483,326Liabilities 2012: $497,115Net Assets 2012: $986,2112012Assets 2013: $1,330,594Liabilities 2013: $462,500Net Assets 2013: $868,0942013Assets 2014: $844,671Liabilities 2014: $360,524Net Assets 2014: $484,1472014Assets 2015: $386,704Liabilities 2015: $0Net Assets 2015: $386,7042015Assets 2016: $378,799Liabilities 2016: $35,842Net Assets 2016: $342,9572016Assets 2017: $274,104Liabilities 2017: $35,842Net Assets 2017: $238,2622017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2015

Assets$386,704
Liabilities$0
Net Assets$386,704
Open 2015 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KExpenses 2010: $354,5372010Expenses 2011: $297,0442011Expenses 2012: $102,7252012Revenue 2013: $3,105Expenses 2013: $121,222Net Income 2013: -$118,1172013Revenue 2014: $7Expenses 2014: $202,757Net Income 2014: -$202,7502014Revenue 2015: $172,248Expenses 2015: $269,691Net Income 2015: -$97,4432015Revenue 2016: $382Expenses 2016: $85,415Net Income 2016: -$85,0332016Revenue 2017: $1Expenses 2017: $104,696Net Income 2017: -$104,6952017Revenue 2018: -$11,312Expenses 2018: $65,407Net Income 2018: -$76,7192018

Highlighted filing

2015

Revenue$172,248
Expenses$269,691
Net Income-$97,443
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 16, 2016
Return Version
2015v2.1
Gross Receipts
$172,248
Mission and Program Overview

Mission

The delaware innovation fund is a private delaware corporate nonprofit, nonstock economic development firm established to assist in the initial capitalization of pre-seed and early stage businesses. The goal of the delaware innovation fund is to promote early stage venture investments and job growth within high technology and proprietary companies throughout delaware and the surrounding region. To accomplish this, the fund provides financial and technical support during the critical early stages of company development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$435,101$322,097▼ $113,004
Investments Other Securities$406,869$54,687▼ $352,182
Accounts Receivable-$4,848-
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$844,671$386,704▼ $457,967
Other Assets Total$2,701$5,072▲ $2,371
Liabilities
Accounts Payable and Accrued Expenses$350,524$0▼ $350,524
Mortgage Notes Payable Secured by Investment Property$10,000$0▼ $10,000
Total Liabilities$360,524$0▼ $360,524
Net Assets / Fund Balance
Unrestricted Net Assets$484,147$386,704▼ $97,443
Total Net Assets Fund Balance$484,147$386,704▼ $97,443
Total Liabilities and Net Assets / Fund Balance$844,671$386,704▼ $457,967

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$36,369$36,369
Leasehold Improvements$0$3,091$3,091
Other Securities$54,687--
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Michael KelleyChairman
Patrick J Foley Jr PhdBoardmember
Richard C Birkmeyer PhdBoardmember
Scott K Jones PhdBoardmember
Revenue and Support

Revenue Composition

Contributions and Grants
$2,828
Program Service Revenue
$0
Investment Income
$169,420
Other Revenue
$0
Change in Net Assets
$-97,443
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$269,691
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$205,195$6,346-$211,541
Occupancy$22,396$693-$23,089
Fees for Services Accounting$19,972$618-$20,590
Insurance$3,151$97-$3,248
Office Expenses$126$4-$130
Interest$66$2-$68
Other Expenses$24$1-$25
Total Functional Expenses$261,600$8,091$0$269,691
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization entered into an agreement with innovation capital advisors, llc to assume the responsibility of the day-to-day operating duties of the organization including technical, operating, business and reporting functions.”

Form 990, Part VI, Section B, Line 11

“990 is e-mailed to all board of directors for review prior to filing return with internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“Officers, directors and employees are required annually to sign a conflict of interest statement.”

Form 990, Part VI, Section C, Line 18

“The 990 is available on guidestar.org or upon direct request to the organization.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Delaware Innovation Fund
EIN
23-2799695
Phone
3027771616
Address
1601 CONCORD PIKE SUITE 82-84, WILMINGTON, DE 19803

Signing Officer

Name
Pedro Moore
Title
Executive Director
Phone
3027771616
Signed
2016-05-16

Organization Details

Principal Officer
Pedro Moore
Formed
1995
Legal Domicile
De
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Barbacane Thornton & Company Llp
Address
200 SPRINGER BLDG 3411 SILVERSIDE, RD, WILMINGTON, DE 19810-4866
Preparer
Jeffrey a Kowalczyk CPA
Phone
3024788940
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE DELAWARE INNOVATION FUND IS A PRIVATE DELAWARE CORPORATE NONPROFIT, NONSTOCK ECONOMIC DEVELOPMENT FIRM ESTABLISHED TO ASSIST IN THE INITIAL CAPITALIZATION OF PRE-SEED AND EARLY STAGE BUSINESSES. THE GOAL OF THE DELAWARE INNOVATION FUND IS TO PROMOTE EARLY STAGE VENTURE INVESTMENTS AND JOB GROWTH WITHIN HIGH TECHNOLOGY AND PROPRIETARY COMPANIES THROUGHOUT DELAWARE AND THE SURROUNDING REGION. TO ACCOMPLISH THIS, THE FUND PROVIDES FINANCIAL AND TECHNICAL SUPPORT DURING THE CRITICAL EARLY STAGES OF COMPANY DEVELOPMENT.
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IRS990/MissionDesc0THE DELAWARE INNOVATION FUND IS A PRIVATE DELAWARE CORPORATE NONPROFIT, NONSTOCK ECONOMIC DEVELOPMENT FIRM ESTABLISHED TO ASSIST IN THE INITIAL CAPITALIZATION OF PRE-SEED AND EARLY STAGE BUSINESSES. THE GOAL OF THE DELAWARE INNOVATION FUND IS TO PROMOTE EARLY STAGE VENTURE INVESTMENTS AND JOB GROWTH WITHIN HIGH TECHNOLOGY AND PROPRIETARY COMPANIES THROUGHOUT DELAWARE AND THE SURROUNDING REGION. TO ACCOMPLISH THIS, THE FUND PROVIDES FINANCIAL AND TECHNICAL SUPPORT DURING THE CRITICAL EARLY STAGES OF COMPANY DEVELOPMENT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH INNOVATION CAPITAL ADVISORS, LLC TO ASSUME THE RESPONSIBILITY OF THE DAY-TO-DAY OPERATING DUTIES OF THE ORGANIZATION INCLUDING TECHNICAL, OPERATING, BUSINESS AND REPORTING FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 IS E-MAILED TO ALL BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING RETURN WITH INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS, DIRECTORS AND EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN A CONFLICT OF INTEREST STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 990 IS AVAILABLE ON GUIDESTAR.ORG OR UPON DIRECT REQUEST TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0844671
IRS990/TotalAssetsEOYAmt0386704
IRS990/TotalAssetsGrp/BOYAmt0844671
IRS990/TotalAssetsGrp/EOYAmt0386704
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02828
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08091
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0261600
IRS990/TotalFunctionalExpensesGrp/TotalAmt0269691
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0360524
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0360524
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0484147
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0386704
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0261600
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0169413
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0172248
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0844671
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0386704
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0484147
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0386704
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01601 CONCORD PIKE STE 82-84
IRS990/USAddress/CityNm0WILMINGTON
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019803
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.DIFONLINE.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PEDRO MOORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03027771616
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DELAWARE INNOVATION FUND
ReturnHeader/Filer/BusinessNameControlTxt0DELA
ReturnHeader/Filer/EIN0232799695
ReturnHeader/Filer/PhoneNum03027771616
ReturnHeader/Filer/USAddress/AddressLine1Txt01601 CONCORD PIKE SUITE 82-84
ReturnHeader/Filer/USAddress/CityNm0WILMINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019803
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0510229493
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARBACANE THORNTON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 SPRINGER BLDG 3411 SILVERSIDE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0198104866
ReturnHeader/PreparerPersonGrp/PhoneNum03024788940
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A KOWALCZYK CPA
ReturnHeader/ReturnTs02016-05-16T07:38:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$386,704
Liabilities
$0
Net assets
$386,704
Revenue
$172,248
Expenses
$269,691
Net income
-$97,443
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.01$0.07$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.04$0.24$0.00$0.10$0.10
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.04$0.34$0.00$0.09$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$0.17$0.27$0.10
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.84$0.36$0.48$0.00$0.20$0.20
2013Detailed filing. Detailed filing data is available for this year.$1.33$0.46$0.87$0.00$0.12$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.50$0.99$0.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$0.61$1.09$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.60$1.32$0.35