Civic Intelligence

Delaware Innovation Fund

990 • Fiscal year 2018 • EIN 23-2799695

Jan 01, 2018 to Dec 10, 2018 • Filed on Feb 04, 2019

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2018

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2018

Net Margin

100th percentile

678%

Higher net margin than 100% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $274,104 (-100%) from 2017

Net Assets

Down

$0

Down $238,262 (-100%) from 2017

Liabilities

Down

$0

Down $35,842 (-100%) from 2017

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$11,312

Down $11,313 (-1131300%) from 2017

Expenses

Down

$65,407

Down $39,289 (-38%) from 2017

Net Income

Up

-$76,719

Up $27,976 (+27%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2018

Revenue-$11,312
Expenses$65,407
Net Income-$76,719
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 10, 2018
Signed
Feb 4, 2019
Return Version
2018v3.1
Gross Receipts
$9,471
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$250,307$0▼ $250,307
Investments Other Securities$20,783$0▼ $20,783
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$274,104$0▼ $274,104
Other Assets Total$3,014$0▼ $3,014
Liabilities
Accounts Payable and Accrued Expenses$35,842--
Total Liabilities$35,842$0▼ $35,842
Net Assets / Fund Balance
Unrestricted Net Assets$238,262$0▼ $238,262
Total Net Assets Fund Balance$238,262$0▼ $238,262
Total Liabilities and Net Assets / Fund Balance$274,104$0▼ $274,104
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-11,622
Other Revenue
$310
Change in Net Assets
$-76,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$65,407
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$12,617$12,617-$25,234
Fees for Services Management$11,944$11,944-$23,888
Fees for Services Accounting-$6,175-$6,175
All Other Expenses$5,000$253-$5,253
Conferences and Meetings$4,848--$4,848
Interest-$9-$9
Total Functional Expenses$34,409$30,998$0$65,407
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
Scott K Jones
Title
Board Member
Phone
3027771616
Signed
2019-02-04

Organization Details

Principal Officer
Scott K Jones
Formed
1995
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

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

Additional Explanations

FORM 990, PART XI, LINE 9:

“Funds distributed at cessation of operations -161,543.”

Raw XML Appendix362 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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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/ExplanationTxt5FUNDS DISTRIBUTED AT CESSATION OF OPERATIONS -161,543.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
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IRS990/TotalAssetsEOYAmt00
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IRS990/TotalAssetsGrp/EOYAmt00
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IRS990/TotalEmployeeCnt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
ReturnHeader/BusinessOfficerGrp/PhoneNum03027771616
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DELAWARE INNOVATION FUND
ReturnHeader/Filer/BusinessNameControlTxt0DELA
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ReturnHeader/Filer/USAddress/AddressLine1Txt01601 CONCORD PIKE SUITE 82-84
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.151.151.153
ReturnHeader/FilingSecurityInformation/IPDt02019-02-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm011:10:13
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
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-01-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A KOWALCZYK CPA
ReturnHeader/ReturnTs02019-02-04T10:10:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-10
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
-$11,312
Expenses
$65,407
Net income
-$76,719
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$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
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