FIRST STATE INNOVATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

ERNEST DIANASTASIS

Phone

6106598268

Tax Period

2024-01-01 to 2024-12-31

Mission

TO HELP GROW WEALTH AND THE WORKFORCE OF DELAWARE'S INNOVATION ECONOMY BY GROWING, ATTRACTING, RETAINING, AND CONNECTING HIGH GROWTH TECHNOLOGY-BASED BUSINESSES AND SUPPORTING INFRASTRUCTURE IN THE STATE, AND TO HELP CREATE AN ENVIRONMENT THAT MAKES IT EASY FOR EMERGING COMPANIES TO LOCATE THE RESOURCES THAT WILL ENABLE THEM TO INCUBATE, GROW OR RELOCATE TO THE STATE AND THE SURROUNDING REGION.

Program Service Accomplishments

Program 1

Expenses: $432

SUPPORT OF DELAWARE'S ENTREPRENEURIAL ACTIVITIES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $432

Other Expenses $2,432

TOTAL EXPENSES $2,432

Year-over-Year Comparison

	2024	2023	Change
Revenue	N/A	N/A	N/A
Expenses	$2,432	$40	+59.8%
Net Income	N/A	$-40	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERNEST J DIANASTASIS	CHAIRMAN & PRESIDENT	1.00	Officer Director	$0	$0	$0
J MICHAEL BOWMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK PENNELLA	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFREY E FETTERMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDY LUBIN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID GATES	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW SWANSON	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	$2,432	$401,323	No data
2023	No data	$40	$403,755	No data
2022	$200	$2,038	$403,995	$-1,838
2021	No data	$12,634	$405,833	No data
2020	$100	$2,816	$418,467	$-2,716
2019	No data	$5,034	$421,183	No data
2018	No data	$13,838	$426,217	No data