Civic Intelligence

Innovation Development Institute Inc

EIN 46-3253782 • 501(c)3 • Chicago, IL

Profile

MATTER is a supportive space that illuminates the path to success through mentorship, networking and shared resources. We provide a sense of community among members and extend out to the greater healthcare network, both locally and globally.

222 W Merchandise Mart Plza 1230Chicago, IL 60654

matterchicago.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

70th percentile

0.34x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.31x

Higher debt load relative to revenue than 65% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

37th percentile

-0.0%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

4.0%

Faster revenue growth than 43% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$5,638,025

Down $901,761 (-14%) from 2023

Liabilities

Down

$1,899,687

Down $1,497,725 (-44%) from 2023

Net Assets

Up

$3,738,338

Up $595,964 (+19%) from 2023

Revenue

Up

$6,110,724

Up $233,747 (+4.0%) from 2023

Expenses

Down

$6,113,697

Down $113,904 (-1.8%) from 2023

Net Income

Up

-$2,973

Up $347,651 (+99%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $4,711,500Liabilities 2014: $3,010,658Net Assets 2014: $1,700,8422014Assets 2015: $7,579,856Liabilities 2015: $4,638,066Net Assets 2015: $2,941,7902015Assets 2016: $7,907,032Liabilities 2016: $5,158,901Net Assets 2016: $2,748,1312016Assets 2017: $7,868,240Liabilities 2017: $5,171,536Net Assets 2017: $2,696,7042017Assets 2018: $7,153,117Liabilities 2018: $4,658,320Net Assets 2018: $2,494,7972018Assets 2019: $6,964,932Liabilities 2019: $4,520,159Net Assets 2019: $2,444,7732019Assets 2020: $6,923,152Liabilities 2020: $4,038,311Net Assets 2020: $2,884,8412020Assets 2021: $6,803,364Liabilities 2021: $3,520,136Net Assets 2021: $3,283,2282021Assets 2022: $7,916,485Liabilities 2022: $4,439,938Net Assets 2022: $3,476,5472022Assets 2023: $6,539,786Liabilities 2023: $3,397,412Net Assets 2023: $3,142,3742023Assets 2024: $5,638,025Liabilities 2024: $1,899,687Net Assets 2024: $3,738,3382024

Highlighted filing

2024

Assets$5,638,025
Liabilities$1,899,687
Net Assets$3,738,338

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $2,262,627Expenses 2014: $711,785Net Income 2014: $1,550,8422014Revenue 2015: $4,052,056Expenses 2015: $2,811,108Net Income 2015: $1,240,9482015Revenue 2016: $3,260,422Expenses 2016: $3,454,081Net Income 2016: -$193,6592016Revenue 2017: $4,235,825Expenses 2017: $4,282,857Net Income 2017: -$47,0322017Revenue 2018: $4,348,987Expenses 2018: $4,552,024Net Income 2018: -$203,0372018Revenue 2019: $4,832,966Expenses 2019: $4,895,053Net Income 2019: -$62,0872019Revenue 2020: $5,034,246Expenses 2020: $4,594,242Net Income 2020: $440,0042020Revenue 2021: $5,200,844Expenses 2021: $4,749,977Net Income 2021: $450,8672021Revenue 2022: $5,662,507Expenses 2022: $5,590,607Net Income 2022: $71,9002022Revenue 2023: $5,876,977Expenses 2023: $6,227,601Net Income 2023: -$350,6242023Revenue 2024: $6,110,724Expenses 2024: $6,113,697Net Income 2024: -$2,9732024

Highlighted filing

2024

Revenue$6,110,724
Expenses$6,113,697
Net Income-$2,973

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$5,200,844
Mission and Program Overview

Mission

Matter is a community of entrepreneurs, innovators and industry leaders working together to harness technology to improve health and health care.

Matter is a community working together to harness technology to accelerate the pace of change of healthcare.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,209,557$3,211,225▲ $1,668
Land, Buildings, and Equipment, Net$2,101,283$1,664,966▼ $436,317
Cash and Non-Interest-Bearing Accounts$887,694$1,171,320▲ $283,626
Accounts Receivable$604,871$719,244▲ $114,373
Prepaid Expenses and Deferred Charges$119,024$35,886▼ $83,138
Savings and Temporary Cash Investments$723$723→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$6,923,152$6,803,364▼ $119,788
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$1,138,706$1,054,736▼ $83,970
Unsecured Notes Loans Payable$1,200,000$1,050,000▼ $150,000
Other Liabilities$1,191,884$920,021▼ $271,863
Accounts Payable and Accrued Expenses$547,376$495,379▼ $51,997
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,077,966$3,520,136▼ $557,830
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,845,186$3,283,228▲ $438,042
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2,845,186$3,283,228▲ $438,042
Total Liabilities and Net Assets / Fund Balance$6,923,152$6,803,364▼ $119,788

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,442,285$2,786,408$4,228,693
Equipment$222,681$738,350$961,031
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steven B CollensCEOFT$323,576$147,179$470,755
Joseph RizkVice President, PartnershipsFT$197,148$121,002$318,150
Peter StrandquistSenior Director, OperationsFT$145,652$19,593$165,245
Charlene FanChief of StaffFT$125,895$20,538$146,433
Jeanetta KonstantakopoulosDirector, Marketing and EngageFT$121,500$8,826$130,326
Sabrina RahmanDirector, Corporate InnovationFT$116,450$750$117,200
Samantha StavigSenior Manager, PartnershipsFT$108,756$600$109,356

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$599,193
Program Service Revenue
$4,587,155
Investment Income
$14,496
Other Revenue
$0
All Other Contributions
$122,750
Change in Net Assets
$450,867
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,614,514
Other Expenses$2,135,463
Total Fundraising Expense$9,144
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$904,304$326,606-$1,230,910
Other Salaries and Wages$847,600$306,126-$1,153,726
Occupancy$751,998$83,313-$835,311
Depreciation Depletion$547,940$1,691-$549,631
Payroll Taxes$109,759$39,642-$149,401
Information Technology$57,638$84,400-$142,038
Fees for Services Accounting$21,006$84,244-$105,250
Fees for Services Other$81,992$5,700-$87,692
Pension Plan Contributions$55,191$19,933-$75,124
Travel$20,774$11,221-$31,995
Office Expenses$24,894$3,474-$28,368
Fees for Services Legal-$17,255$9,144$26,399
Advertising$19,556$1,857-$21,413
Insurance$-883$7,063-$6,180
Conferences and Meetings$5,703--$5,703
Other Employee Benefits$3,933$1,420-$5,353
Other Expenses$3,186$16,853-$3,186
All Other Expenses$237$210-$447
Total Functional Expenses$3,729,825$1,011,008$9,144$4,749,977
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
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$920,021
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

After the form 990 is prepared, it is reviewed by the ceo, then reviewed by the board-appointed finance committee, and finally shared with the board of directors.

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

The board-appointed governance and nominating committee (gandn committee) manages policy compliance. The gandn committee shares the policy and requests annual certification and disclosure to existing members of the board of directors. The committee then reviews and addresses any potential conflicts. When new members of the board are voted in during the year, they complete the disclosure upon joining the board of directors.

Form 990, Part VI, Section B, Line 15A

The ceo's salary is determined by the board-appointed compensation committee. The compensation committee may, at its discretion, engage with a third-party independent consultant to provide market and benchmarking info. The ceo is also a board member and does not take part when the determination of compensation is on the agenda. The compensation committee evaluates periodically, but no less than once per year, the performance of the ceo. Compensation for other key employees is determined by the ceo.

Form 990, Part VI, Section B, Line 15B

The board-appointed finance committee reviews and approves the staffing budget each year for the entire organization.

Form 990, Part VI, Section C, Line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Innovation Development Institute Inc
EIN
46-3253782
In Care Of
% STEVEN COLLENS
Phone
3123748243
Address
222 W MERCHANDISE MART PLZA 1230, CHICAGO, IL 60654
Doing Business As
Matter Chicago

Signing Officer

Name
Steven Collens
Title
CEO
Phone
3123748243
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Collens
Formed
2013
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
20
Employees
26
Volunteers
100

Preparer

Firm
Forvis Llp
Address
1901 S Meyers Road Suite 500, Oakbrook Terrace, IL 60181-5209
Preparer
Bernadette D Zita
Phone
6302829500
Raw XML AppendixShowing 400 of 748 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/Form990PartVIISectionAGrp/PersonNm0Steven B Collens
IRS990/Form990PartVIISectionAGrp/PersonNm1Joseph Rizk
IRS990/Form990PartVIISectionAGrp/PersonNm2Peter Strandquist
IRS990/Form990PartVIISectionAGrp/PersonNm3Charlene Fan
IRS990/Form990PartVIISectionAGrp/PersonNm4Jeanetta Konstantakopoulos
IRS990/Form990PartVIISectionAGrp/PersonNm5Sabrina Rahman
IRS990/Form990PartVIISectionAGrp/PersonNm6Samantha Stavig
IRS990/Form990PartVIISectionAGrp/PersonNm7Jeffery S Aronin
IRS990/Form990PartVIISectionAGrp/PersonNm8Andrew Cittadine
IRS990/Form990PartVIISectionAGrp/PersonNm9Steven A Gould
IRS990/Form990PartVIISectionAGrp/PersonNm10Laura Ferris Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm11Eric Whitaker
IRS990/Form990PartVIISectionAGrp/PersonNm12Manika Turnbull END 92021
IRS990/Form990PartVIISectionAGrp/PersonNm13Steve Hamman
IRS990/Form990PartVIISectionAGrp/PersonNm14Stephen N Keith
IRS990/Form990PartVIISectionAGrp/PersonNm15James L Madara
IRS990/Form990PartVIISectionAGrp/PersonNm16Suzet McKinney
IRS990/Form990PartVIISectionAGrp/PersonNm17Peter McNerney
IRS990/Form990PartVIISectionAGrp/PersonNm18James O'Connor
IRS990/Form990PartVIISectionAGrp/PersonNm19David Ormesher
IRS990/Form990PartVIISectionAGrp/PersonNm20Ellen A Rudnick
IRS990/Form990PartVIISectionAGrp/PersonNm21Kevin Schoeplein
IRS990/Form990PartVIISectionAGrp/PersonNm22Jeffrey Stewart
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IRS990/Form990PartVIISectionAGrp/PersonNm24Nancy Sullivan
IRS990/Form990PartVIISectionAGrp/PersonNm25Glen Tullman
IRS990/Form990PartVIISectionAGrp/PersonNm26Marilyn Vetter
IRS990/Form990PartVIISectionAGrp/PersonNm27Tim Walbert END 32021
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Senior Director, Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt3Chief of Staff
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director, Marketing and Engage
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director, Corporate Innovation
IRS990/Form990PartVIISectionAGrp/TitleTxt6Senior Manager, Partnerships
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR OF THE BOARD
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