Civic Intelligence

Innovate Raleigh

990EZ • Fiscal year 2020 • EIN 26-2891963

Oct 01, 2019 to Sep 30, 2020 • Filed on Aug 11, 2021

800 S Salisbury StreetRaleigh, NC 27601-2202

(919) 664-7030

Siviq Scores

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

Liabilities / Assets

76th percentile

0.11x

Higher debt load relative to assets than 76% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.05x

Higher debt load relative to revenue than 71% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

36th percentile

-2.7%

Higher net margin than 36% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$56,000

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 32.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

12th percentile

-38%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

61st percentile

-2.8%

Faster revenue growth than 61% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$75,522

Down $45,316 (-38%) from 2019

Net Assets

Down

$66,997

Down $4,786 (-6.7%) from 2019

Liabilities

Down

$8,525

Down $40,530 (-83%) from 2019

Revenue

Down

$175,147

Down $5,005 (-2.8%) from 2019

Expenses

Down

$179,933

Down $10,057 (-5.3%) from 2019

Net Income

Up

-$4,786

Up $5,052 (+51%) from 2019

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2014: $64,564Liabilities 2014: $12,338Net Assets 2014: $52,2262014Assets 2015: $87,519Liabilities 2015: $3,908Net Assets 2015: $83,6112015Assets 2016: $125,949Liabilities 2016: $1,229Net Assets 2016: $124,7202016Assets 2018: $104,391Liabilities 2018: $22,770Net Assets 2018: $81,6212018Assets 2019: $120,838Liabilities 2019: $49,055Net Assets 2019: $71,7832019Assets 2020: $75,522Liabilities 2020: $8,525Net Assets 2020: $66,9972020Assets 2021: $73,202Liabilities 2021: $18,200Net Assets 2021: $55,0022021Assets 2022: $80,336Liabilities 2022: $10,425Net Assets 2022: $69,9112022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2020

Assets$75,522
Liabilities$8,525
Net Assets$66,997

Operations Trend

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

$200K$100K$0-$100KRevenue 2014: $98,467Expenses 2014: $48,415Net Income 2014: $50,0522014Revenue 2015: $114,785Expenses 2015: $83,400Net Income 2015: $31,3852015Revenue 2016: $139,754Expenses 2016: $98,645Net Income 2016: $41,1092016Revenue 2018: $92,212Expenses 2018: $133,102Net Income 2018: -$40,8902018Revenue 2019: $180,152Expenses 2019: $189,990Net Income 2019: -$9,8382019Revenue 2020: $175,147Expenses 2020: $179,933Net Income 2020: -$4,7862020Revenue 2021: $146,925Expenses 2021: $158,920Net Income 2021: -$11,9952021Revenue 2022: $119,187Expenses 2022: $104,278Net Income 2022: $14,9092022Revenue 2023: $40,774Expenses 2023: $110,685Net Income 2023: -$69,9112023

Highlighted filing

2020

Revenue$175,147
Expenses$179,933
Net Income-$4,786
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Aug 11, 2021
Return Version
2019v5.2
Gross Receipts
$175,147
Mission and Program Overview

Mission

To provide technical, administrative, and infrastructure support to entrepreneurs and serve as a catalyst for innovation and economic growth in the raleigh and triangle area

Program Services

DescriptionGrantsExpenses
PROVIDING TECHNICAL, ADMINISTRATIVE, AND INFRASTRUCTURE SUPPORT TO ENTREPRENEURS$0$60,000
INNOVATE RALEIGH SUMMIT AND OTHER EVENTS$0$29,971
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
BRIDGET HARRINGTONExecutive DirectorPT$56,000-$56,000
JASON WIDENChairman-$0--
DR TERRI LOMAXDirector-$0--
DERRICK MINORDirector-$0--
KARL RECTANUSDirector-$0--
ANITA WATKINSDirector-$0--
Filing and Contact Details

Filer

Filer Name
Innovate Raleigh
EIN
26-2891963
Phone
9196647030
Address
800 S SALISBURY STREET, RALEIGH, NC 27601-2202

Signing Officer

Name
Jason Widen
Title
Chairman
Phone
9196647030
Signed
2021-08-11
Discuss with paid preparer
Yes

Preparer

Firm
Koonce Wooten & Haywood Llp
Address
P O BOX 17806, RALEIGH, NC 27619-7806
Preparer
Christopher Duffus
Phone
9197829265
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 4 - Other Investment Income

Description: interest - savings short cd. Amount: 9.

Form 990-ez, Part I, Line 16 - Other Expenses

Description: other expenses. Amount: 182. Description: insurance. Amount: 765. Description: program costs. Amount: 60,000. Description: event expenses. Amount: 29,971. Description: marketing. Amount: 1,055. Description: meals and entertainment. Amount: 792. Description: travel. Amount: 373. Description: taxes & licenses. Amount: 202. Total to form 990-ez, line 16: 93,340.

Form 990-ez, Part II, Line 24 - Other Assets

Description: accounts receivable. Beg. Of year amount: 14,923. End of year amount: 15,528. Description: prepaid expense. Beg. Of year amount: 2,298. End of year amount: 0.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: deferred revenue. Beg. Of year amount: 49,055. End of year amount: 8,525.

Raw XML Appendix177 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd00
IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JAMES WHITE
IRS990EZ/BooksInCareOfDetail/PhoneNum09196647030
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt0800 S SALISBURY STREET
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0RALEIGH
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd027601
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0103617
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt059994
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd00
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IRS990EZ/ExcessOrDeficitForYearAmt0-4786
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IRS990EZ/FiledScheduleAInd01
IRS990EZ/ForeignFinancialAccountInd00
IRS990EZ/ForeignOfficeInd00
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IRS990EZ/GrossReceiptsAmt0175147
IRS990EZ/InfoInScheduleOPartIIIInd0X
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
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IRS990EZ/InvestmentIncomeAmt09
IRS990EZ/LobbyingActivitiesInd00
IRS990EZ/MadeLoansToFromOfficersInd00
IRS990EZ/MethodOfAccountingAccrualInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt071783
IRS990EZ/NetAssetsOrFundBalancesEOYAmt066997
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt071783
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt066997
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt01.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt11.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt21.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt31.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt41.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt528.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt556000
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0JASON WIDEN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1DR TERRI LOMAX
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2DERRICK MINOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3KARL RECTANUS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4ANITA WATKINS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5BRIDGET HARRINGTON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0CHAIRMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5EXECUTIVE DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherAssetsTotalDetail/BOYAmt017221
IRS990EZ/OtherAssetsTotalDetail/EOYAmt015528
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt093340
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0TO PROVIDE TECHNICAL, ADMINISTRATIVE, AND INFRASTRUCTURE SUPPORT TO ENTREPRENEURS AND SERVE AS A CATALYST FOR INNOVATION AND ECONOMIC GROWTH IN THE RALEIGH AND TRIANGLE AREA
IRS990EZ/PrintingPublicationsPostageAmt0593
IRS990EZ/ProgramServiceRevenueAmt058138
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0PROVIDING TECHNICAL, ADMINISTRATIVE, AND INFRASTRUCTURE SUPPORT TO ENTREPRENEURS
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1INNOVATE RALEIGH SUMMIT AND OTHER EVENTS
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt10
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt060000
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt129971
IRS990EZ/ProhibitedTaxShelterTransInd00
IRS990EZ/RelatedOrganizationCtrlEntInd00
IRS990EZ/SalariesOtherCompEmplBnftAmt056000
IRS990EZ/SchoolOperatingInd00
IRS990EZ/SubjectToProxyTaxInd00
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt049055
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt08525
IRS990EZ/TanningServicesProvidedInd00
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
IRS990EZ/TaxImposedUnderIRC4912Amt00
IRS990EZ/TaxImposedUnderIRC4955Amt00
IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt0179933
IRS990EZ/TotalProgramServiceExpensesAmt089971
IRS990EZ/TotalRevenueAmt0175147
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0INNOVATERALEIGH.COM
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0117000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0104500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt080000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0157390
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0103500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0562390
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt022
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt026
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt060
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0145954
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99990
IRS990ScheduleA/PublicSupportPY170Pct00.99990
IRS990ScheduleA/PublicSupportTotal170Amt0562390
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0117000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0104500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt080000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0157390
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0103500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0562390
IRS990ScheduleA/TotalSupportAmt0562450
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST - SAVINGS SHORT CD. AMOUNT: 9.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: OTHER EXPENSES. AMOUNT: 182. DESCRIPTION: INSURANCE. AMOUNT: 765. DESCRIPTION: PROGRAM COSTS. AMOUNT: 60,000. DESCRIPTION: EVENT EXPENSES. AMOUNT: 29,971. DESCRIPTION: MARKETING. AMOUNT: 1,055. DESCRIPTION: MEALS AND ENTERTAINMENT. AMOUNT: 792. DESCRIPTION: TRAVEL. AMOUNT: 373. DESCRIPTION: TAXES & LICENSES. AMOUNT: 202. TOTAL TO FORM 990-EZ, LINE 16: 93,340.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: ACCOUNTS RECEIVABLE. BEG. OF YEAR AMOUNT: 14,923. END OF YEAR AMOUNT: 15,528. DESCRIPTION: PREPAID EXPENSE. BEG. OF YEAR AMOUNT: 2,298. END OF YEAR AMOUNT: 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: DEFERRED REVENUE. BEG. OF YEAR AMOUNT: 49,055. END OF YEAR AMOUNT: 8,525.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON WIDEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09196647030
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INNOVATE RALEIGH
ReturnHeader/Filer/BusinessNameControlTxt0INNO
ReturnHeader/Filer/EIN0262891963
ReturnHeader/Filer/PhoneNum09196647030
ReturnHeader/Filer/USAddress/AddressLine1Txt0800 S SALISBURY STREET
ReturnHeader/Filer/USAddress/CityNm0RALEIGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0276012202
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560517823
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KOONCE WOOTEN & HAYWOOD LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 17806
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0276197806
ReturnHeader/PreparerPersonGrp/PhoneNum09197829265
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER DUFFUS
ReturnHeader/ReturnTs02021-08-12T13:15:16-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02019-10-01
ReturnHeader/TaxPeriodEndDt02020-09-30
ReturnHeader/TaxYr02019

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Filings