Civic Intelligence

Delaware Innovation Fund

990 • Fiscal year 2016 • EIN 23-2799695

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 09, 2017

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

77th percentile

0.09x

Higher debt load relative to assets than 77% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

100th percentile

93.83x

Higher debt load relative to revenue than 100% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

1st percentile

-22260%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

41st percentile

-2.0%

Faster asset growth than 41% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$378,799

Down $7,905 (-2.0%) from 2015

Net Assets

Down

$342,957

Down $43,747 (-11%) from 2015

Liabilities

Up

$35,842

Up $35,842 from 2015

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$382

Down $171,866 (-100%) from 2015

Expenses

Down

$85,415

Down $184,276 (-68%) from 2015

Net Income

Up

-$85,033

Up $12,410 (+13%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth41st 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

2016

Assets$378,799
Liabilities$35,842
Net Assets$342,957
Open 2016 Filing

Operations Trend

Revenue Growth1st 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

2016

Revenue$382
Expenses$85,415
Net Income-$85,033
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 9, 2017
Return Version
2016v3.0
Gross Receipts
$382
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$322,096$355,013▲ $32,917
Accounts Receivable$155,008$0▼ $155,008
Investments Other Securities$54,687$20,783▼ $33,904
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$534,687$378,799▼ $155,888
Other Assets Total$2,896$3,003▲ $107
Liabilities
Accounts Payable and Accrued Expenses$33,225$35,842▲ $2,617
Total Liabilities$33,225$35,842▲ $2,617
Net Assets / Fund Balance
Unrestricted Net Assets$501,462$342,957▼ $158,505
Total Net Assets Fund Balance$501,462$342,957▼ $158,505
Total Liabilities and Net Assets / Fund Balance$534,687$378,799▼ $155,888

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$36,369$36,369
Leasehold Improvements$0$3,091$3,091
Other Securities$20,783--
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
$0
Program Service Revenue
$0
Investment Income
$7
Other Revenue
$375
Change in Net Assets
$-85,033

Audited Revenue Reconciliation

Revenue per Audited Statements
$382
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$382
Total Revenue per Form 990
$382
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,415
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
Occupancy$23,597$2,622-$26,219
Fees for Services Management$18,480$2,053-$20,533
Insurance$2,923$325-$3,248
Fees for Services Accounting$968$108-$1,076
Office Expenses$370$40-$410
Other Expenses$23$2-$25
Total Functional Expenses$76,875$8,540$0$85,415

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$85,415
Total Expenses per Audited Statements$85,415
Total Expenses per Form 990$85,415
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Audit committee
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 11B

“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
2017-08-09

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
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization qualifies as a tax exempt organization under internal revenue code section 501(c)(3), and its activities are not subject to income tax. Generally accepted accounting principles prescribe rules for the recognition, measurement, classification, and disclosure in the financial statements of uncertain tax positions taken or expected to be taken in the organization's tax returns. Management has determined that the organization does not have any uncertain tax positions or associated unrecognized benefits that materially impact the financial statements or related disclosures. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the organization's tax returns will not be challenged by the taxing authorities and that the organization will not be subject to additional tax, penalties, and interest as a result of such challenge.”

Raw XML Appendix363 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND ITS ACTIVITIES ARE NOT SUBJECT TO INCOME TAX. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRESCRIBE RULES FOR THE RECOGNITION, MEASUREMENT, CLASSIFICATION, AND DISCLOSURE IN THE FINANCIAL STATEMENTS OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ORGANIZATION'S TAX RETURNS. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. SINCE TAX MATTERS ARE SUBJECT TO SOME DEGREE OF UNCERTAINTY, THERE CAN BE NO ASSURANCE THAT THE ORGANIZATION'S TAX RETURNS WILL NOT BE CHALLENGED BY THE TAXING AUTHORITIES AND THAT THE ORGANIZATION WILL NOT BE SUBJECT TO ADDITIONAL TAX, PENALTIES, AND INTEREST AS A RESULT OF SUCH CHALLENGE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt020783
IRS990ScheduleD/TotalExpensesPerForm990Amt085415
IRS990ScheduleD/TotalRevenuePerForm990Amt0382
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0382
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt085415
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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 11B
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/TotalAssetsBOYAmt0534687
IRS990/TotalAssetsEOYAmt0378799
IRS990/TotalAssetsGrp/BOYAmt0534687
IRS990/TotalAssetsGrp/EOYAmt0378799
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08540
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076875
IRS990/TotalFunctionalExpensesGrp/TotalAmt085415
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033225
IRS990/TotalLiabilitiesEOYAmt035842
IRS990/TotalLiabilitiesGrp/BOYAmt033225
IRS990/TotalLiabilitiesGrp/EOYAmt035842
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0501462
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0342957
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt076875
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0375
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0382
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0534687
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0378799
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0501462
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IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019803
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.DIFONLINE.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PEDRO MOORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03027771616
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-09
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0C78D27F84086B75E6D732DC2952756020F6C3DFF
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C78D27F84086B75E6D732DC2952756020F6C3DFF
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.151.151.153
ReturnHeader/FilingSecurityInformation/IPDt02017-08-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm012:07:56
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/PreparationDt02017-08-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A KOWALCZYK CPA
ReturnHeader/ReturnTs02017-08-09T11:08:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$378,799
Liabilities
$35,842
Net assets
$342,957
Revenue
$382
Expenses
$85,415
Net income
-$85,033
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
2016Detailed filing. Detailed filing data is available for this year.$0.38$0.04$0.34$0.00$0.09$0.09
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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