Civic Intelligence

Innovate 120 Inc.

EIN 85-4085470 • 501(c)3 • Maquoketa, IA

Pub. 78 Eligible

Profile

Innovate 120 inc is organized for charitable purposes and supports entrepreneurial programs and entrepreneur coaching for students and residents.

120 S Main StMaquoketa, IA 52060

www.facebook.com/INNOVATE120

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.02x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

78th percentile

24%

Higher net margin than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

78th percentile

23%

Faster asset growth than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

53rd percentile

0.8%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$158,740

Up $29,586 (+23%) from 2023

Liabilities

Up

$5,000

Up $5,000 from 2023

Net Assets

Up

$153,740

Up $24,586 (+19%) from 2023

Operations
Liabilities / Revenue72nd percentileNet Margin78th percentile

Revenue

Up

$244,036

Up $2,018 (+0.8%) from 2023

Expenses

Up

$185,851

Up $37,570 (+25%) from 2023

Net Income

Down

$58,185

Down $35,552 (-38%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth78th percentile

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

$200K$150K$100K$50K$0Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $7,143Liabilities 2021: $0Net Assets 2021: $7,1432021Assets 2022: $28,274Liabilities 2022: $0Net Assets 2022: $28,2742022Assets 2023: $129,154Liabilities 2023: $0Net Assets 2023: $129,1542023Assets 2024: $158,740Liabilities 2024: $5,000Net Assets 2024: $153,7402024

Highlighted filing

2024

Assets$158,740
Liabilities$5,000
Net Assets$153,740
Open 2024 Filing

Operations Trend

Revenue Growth53rd percentile

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

$300K$200K$100K$0Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $59,155Expenses 2021: $52,012Net Income 2021: $7,1432021Revenue 2022: $137,490Expenses 2022: $116,359Net Income 2022: $21,1312022Revenue 2023: $242,018Expenses 2023: $148,281Net Income 2023: $93,7372023Revenue 2024: $244,036Expenses 2024: $185,851Net Income 2024: $58,1852024

Highlighted filing

2024

Revenue$244,036
Expenses$185,851
Net Income$58,185
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$158,740
Liabilities
$5,000
Net assets
$153,740
Revenue
$244,036
Expenses
$185,851
Net income
$58,185
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.59$0.05$1.54$2.44$1.86$0.58
2023Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$2.42$1.48$0.94
2022Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$1.37$1.16$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.59$0.52$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 8, 2025
Return Version
2024v5.0
Gross Receipts
$244,036
Mission and Program Overview

Mission

Innovate 120 inc is organized for charitable purposes and supports entrepreneurial programs and entrepreneur coaching for students and residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$129,154$153,740▲ $24,586
Land, Buildings, and Equipment, Net$123,090$98,478▼ $24,612
Cash and Non-Interest-Bearing Accounts$6,064$60,262▲ $54,198
Total Assets$129,154$158,740▲ $29,586
Liabilities
Unsecured Notes Loans Payable-$5,000-
Total Liabilities$0$5,000▲ $5,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$129,154$153,740▲ $24,586
Total Liabilities and Net Assets / Fund Balance$129,154$158,740▲ $29,586

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$75,986$32,566$108,552
Other Land Buildings$11,464$3,126$14,590
Leasehold Improvements$11,028$1,225$12,253
Compensation and Service Providers
Top Officer Pay84th percentile

Board Members and Trustees

NameTitle
Robert AbbottPresident
Linc KroegerDirector
Nicolas HockenberryDirector
Tim CottleDirector
Steven KahlerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$211,449
Program Service Revenue
$5,839
Investment Income
$0
Other Revenue
$26,748
All Other Contributions
$103,374
Change in Net Assets
$58,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$185,851
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 Other$50,527--$50,527
Information Technology$40,000--$40,000
Depreciation Depletion$24,612--$24,612
Office Expenses$20,830$2,059-$22,889
Advertising$20,235--$20,235
Occupancy$18,617--$18,617
Insurance$7,158--$7,158
Conferences and Meetings$958--$958
Fees for Services Accounting-$805-$805
Other Expenses$50--$50
Total Functional Expenses$182,987$2,864$0$185,851
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
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 informational return is reviewed by the innovate 120 board of directors. Any revisions are noted and corrected prior to signing and filing of the return.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Innovate 120 Inc
EIN
85-4085470
Phone
6148864140
Address
120 S MAIN ST, MAQUOKETA, IA 52060

Signing Officer

Name
Robert Abbott
Title
President
Phone
6148864140
Signed
2025-09-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Abbott
Formed
2020
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Padgett Business Services
Address
1409 6TH AVE, MOLINE, IL 61265
Preparer
John Franzen Ea
Phone
3092771260
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Innovate 120 in maquoketa, iowa, is a nonprofit coworking and innovation center that relies on volunteers to support its mission of fostering entrepreneurship and economic growth in the region. Volunteers typically assist in various capacities to enhance the center's programs and events. Typical volunteer roles at innovate 120 event support: volunteers help organize and manage events such as the monthly "wednesdays are possible" entrepreneur talks, startup bootcamps, and community workshops. Program assistance: assisting with programs like the ux design internship, summer science camps, and the 10x ecommerce accelerator, volunteers may help with logistics, participant engagement, and administrative tasks. Community engagement: volunteers play a role in outreach efforts, helping to build awareness of innovate 120's offerings and fostering connections within the community. Mentorship and coaching: experienced professionals may volunteer to provide mentorship and coaching to entrepreneurs and program participants, sharing their expertise and guidance.”

Form 990, Part IX, Line 11G

“Contractor costs 43,075 0 0 bank charges 16 0 0 other services 7,436 0 0 total 50,527 0 0”

Raw XML Appendix333 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INNOVATE 120 IN MAQUOKETA, IOWA, IS A NONPROFIT COWORKING AND INNOVATION CENTER THAT RELIES ON VOLUNTEERS TO SUPPORT ITS MISSION OF FOSTERING ENTREPRENEURSHIP AND ECONOMIC GROWTH IN THE REGION. VOLUNTEERS TYPICALLY ASSIST IN VARIOUS CAPACITIES TO ENHANCE THE CENTER'S PROGRAMS AND EVENTS. TYPICAL VOLUNTEER ROLES AT INNOVATE 120 EVENT SUPPORT: VOLUNTEERS HELP ORGANIZE AND MANAGE EVENTS SUCH AS THE MONTHLY "WEDNESDAYS ARE POSSIBLE" ENTREPRENEUR TALKS, STARTUP BOOTCAMPS, AND COMMUNITY WORKSHOPS. PROGRAM ASSISTANCE: ASSISTING WITH PROGRAMS LIKE THE UX DESIGN INTERNSHIP, SUMMER SCIENCE CAMPS, AND THE 10X ECOMMERCE ACCELERATOR, VOLUNTEERS MAY HELP WITH LOGISTICS, PARTICIPANT ENGAGEMENT, AND ADMINISTRATIVE TASKS. COMMUNITY ENGAGEMENT: VOLUNTEERS PLAY A ROLE IN OUTREACH EFFORTS, HELPING TO BUILD AWARENESS OF INNOVATE 120'S OFFERINGS AND FOSTERING CONNECTIONS WITHIN THE COMMUNITY. MENTORSHIP AND COACHING: EXPERIENCED PROFESSIONALS MAY VOLUNTEER TO PROVIDE MENTORSHIP AND COACHING TO ENTREPRENEURS AND PROGRAM PARTICIPANTS, SHARING THEIR EXPERTISE AND GUIDANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 INFORMATIONAL RETURN IS REVIEWED BY THE INNOVATE 120 BOARD OF DIRECTORS. ANY REVISIONS ARE NOTED AND CORRECTED PRIOR TO SIGNING AND FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACTOR COSTS 43,075 0 0 BANK CHARGES 16 0 0 OTHER SERVICES 7,436 0 0 TOTAL 50,527 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0129154
IRS990/TotalAssetsEOYAmt0158740
IRS990/TotalAssetsGrp/BOYAmt0129154
IRS990/TotalAssetsGrp/EOYAmt0158740
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0211449
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02864
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0182987
IRS990/TotalFunctionalExpensesGrp/TotalAmt0185851
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt05000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt05000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0129154
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0153740
IRS990/TotalProgramServiceExpensesAmt0182987
IRS990/TotalProgramServiceRevenueAmt05839
IRS990/TotalRevenueGrp/ExclusionAmt011747
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt020840
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0244036
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0129154
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0158740
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt05000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0120 S MAIN STREET
IRS990/USAddress/CityNm0MAQUOKETA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052060
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FACEBOOK.COM/INNOVATE120
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT ABBOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06148864140
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INNOVATE 120 INC
ReturnHeader/Filer/BusinessNameControlTxt0INNO
ReturnHeader/Filer/EIN0854085470
ReturnHeader/Filer/PhoneNum06148864140
ReturnHeader/Filer/USAddress/AddressLine1Txt0120 S MAIN ST
ReturnHeader/Filer/USAddress/CityNm0MAQUOKETA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052060
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364059951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PADGETT BUSINESS SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01409 6TH AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOLINE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd061265
ReturnHeader/PreparerPersonGrp/PhoneNum03092771260
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN FRANZEN EA
ReturnHeader/ReturnTs02025-09-08T15:03:59-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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