Civic Intelligence

Delaware Innovation Fund

990 • Fiscal year 2017 • EIN 23-2799695

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 21, 2018

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

80th percentile

0.13x

Higher debt load relative to assets than 80% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

100th percentile

35842.00x

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

1st percentile

-10469500%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

16th percentile

-28%

Faster asset growth than 16% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$274,104

Down $104,695 (-28%) from 2016

Net Assets

Down

$238,262

Down $104,695 (-31%) from 2016

Liabilities

Flat

$35,842

Flat from 2016

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$1

Down $381 (-100%) from 2016

Expenses

Up

$104,696

Up $19,281 (+23%) from 2016

Net Income

Down

-$104,695

Down $19,662 (-23%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2017

Assets$274,104
Liabilities$35,842
Net Assets$238,262
Open 2017 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

2017

Revenue$1
Expenses$104,696
Net Income-$104,695
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 21, 2018
Return Version
2017v2.3
Gross Receipts
$1
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$355,013$250,307▼ $104,706
Investments Other Securities$20,783$20,783→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$378,799$274,104▼ $104,695
Other Assets Total$3,003$3,014▲ $11
Liabilities
Accounts Payable and Accrued Expenses$35,842$35,842→ $0
Total Liabilities$35,842$35,842→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$342,957$238,262▼ $104,695
Total Net Assets Fund Balance$342,957$238,262▼ $104,695
Total Liabilities and Net Assets / Fund Balance$378,799$274,104▼ $104,695

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 Pay76th 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
$1
Other Revenue
$0
Change in Net Assets
$-104,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$104,696
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$59,132$6,570-$65,702
Occupancy$24,666$2,741-$27,407
Fees for Services Accounting$7,223$802-$8,025
Insurance$2,923$325-$3,248
Office Expenses$260$29-$289
Other Expenses$23$2-$25
Total Functional Expenses$94,227$10,469$0$104,696
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
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
2018-08-21

Organization Details

Principal Officer
Pedro Moore
Formed
1995
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

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/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 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
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IRS990/TotalRevenueGrp/ExclusionAmt01
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0378799
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0274104
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0342957
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0238262
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.DIFONLINE.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PEDRO MOORE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03027771616
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-21
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
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.151.151.153
ReturnHeader/FilingSecurityInformation/IPDt02018-08-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:48:08
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/PreparationDt02018-08-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A KOWALCZYK CPA
ReturnHeader/ReturnTs02018-08-21T09:48:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$274,104
Liabilities
$35,842
Net assets
$238,262
Revenue
$1
Expenses
$104,696
Net income
-$104,695
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
2017Detailed filing. Detailed filing data is available for this year.$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
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