THE INNOVATION FOUNDATION AT OKLAH… - Form 990 Financial Data

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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

1969

Legal Domicile

Principal Officer

KENNETH W SEWELL

Phone

4057447076

Tax Period

2023-07-01 to 2024-06-30

THE INNOVATION FOUNDATION AT OKLAHOMA STATE UNIVERSITY INC, founded in 1969, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2023. Net assets of $9.5M represent 49 months of operating reserves.

Mission

THE PURPOSE FOR WHICH THIS CORPORATION IS FORMED IS TO PROMOTE AND FOSTER THE CHARITABLE, BENEVOLENT, RELIGIOUS, EDUCATIONAL, SCIENTIFIC, ECONOMIC, AND CULTURAL INTERESTS OF EVERY KIND AND DESCRIPTION OF THE OKLAHOMA STATE UNIVERSITY, A PUBLIC INSTITUTION OF HIGHER EDUCATION AND A PUBLIC EDUCATIONAL CORPORATION OF THE STATE OF OKLAHOMA. THIS CORPORATION IS CREATED AND SHALL BE ADMINISTERED AND OPERATED TO CARRY OUT THE PURPOSES ABOVE STATED AND: 1. TO CREATE AND OPERATE THE THE INNOVATION FOUNDATION AT OSU, INC. 2. TO REQUEST, RECEIVE AND ADMINISTER FUNDS FROM FEDERAL, STATE, AND LOCAL GOVERNMENT SOURCES, AS WELL AS PRIVATE SOURCES. 3. TO ENGAGE IN RESEARCH, EXTENSION, AND ACADEMIC CONTRACTUAL ARRANGEMENTS WHICH ARE DIRECTED TOWARD THE ADVANCEMENT OF THE OKLAHOMA STATE UNIVERSITY AND SUBSEQUENTLY TO THE STATE OF OKLAHOMA. 4. TO UTILIZE FUNDS RECEIVED FRO THE PURPOSES OF RESEARCH, EXTENSION, AND ACADEMIC PROGRAMS AND RELATED ACTIVITIES AND THE ENTER INTO LEGAL ARRANGEMENTS WITH THE OKLA

Program Service Accomplishments

Program 1

Expenses: $1,678,647 Revenue: $2,280,555

THE INNOVATION FOUNDATION OF OKLAHOMA STATE UNIVERSITY INC.(I.F.)RECEIVED AND ADMINISTERED FUNDS FROM FEDERAL AND STATE AGENCIES, AND FROM PRIVATE SOURCES FOR PURPOSES OF CARRYING OUT EDUCATIONAL AND RESEARCH PROGRAMS OF THE UNIVERSITY. FEDERAL AND STATE CONTRACTS FOR FISCAL YEAR END 2024 INCLUDED THE U.S. DEPARTMENT OF DEFENSE AND THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION (NASA). I.F. PROVIDED ASSISTANCE THROUGH NASA SUPPORTED PROGRAMS FOCUSED TOWARDS SPACE SCIENCE EDUCATION. I.F. SPONSORED COLLABORATIVE PROGRAMS LINKING UNIVERSITY RESOURCES TO OKLAHOMAS ECONOMIC NEEDS THROUGH THE SUPPORT OF START-UP COMPANIES SPINNING OUT OF FACULTY RESEARCH. THESE TASKS SUPPORT OUR MISSIONS AND INITIATIVES IN OKLAHOMAS RURAL ECONOMIC DEVELOPMENT AND STATE ECONOMIC DEVELOPMENT INITIATIVES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,113,694

Program Service Revenue $436,153

Investment Income $675

Other Revenue $786,375

TOTAL REVENUE $2,336,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $811,302

Fundraising Expenses $0

Program Expenses $1,678,647

Other Expenses $1,686,328

TOTAL EXPENSES $2,497,630

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,336,897	N/A	N/A
Expenses	$2,497,630	N/A	N/A
Net Income	$-160,733	N/A	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

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

$2,629,945

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH POLLARD	CHIEF EXECUTIVE OFFICER	0.30	Officer Director	$0	$0	$0
KAYSE SHRUM	DIRECTOR	0.30	Director	$0	$106,414	$806,474
CARY BAETZ	DIRECTOR	0.30	Director	$0	$0	$0
RICK DAVIS	DIRECTOR	0.30	Director	$0	$0	$0
JEANETTE MENDEZ	DIRECTOR	0.30	Director	$0	$66,382	$467,608
KENNETH SEWELL	DIRECTOR	0.30	Director	$0	$75,008	$380,858
JOHNNY STEPHENS	DIRECTOR	0.30	Director	$0	$81,008	$620,040
JOE WEAVER	DIRECTOR	0.30	Director	$0	$88,788	$354,965
HEATHER BOWERMAN	DIRECTOR	0.30	Director	$0	$0	$0
ALEX CAPELLO	DIRECTOR	0.30	Director	$0	$0	$0
JIM TWERDAHL	DIRECTOR	0.30	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	$2,336,897	$2,497,630	$10,654,472	$-160,733
2023	$6,107,951	$4,692,050	$10,602,707	$1,415,901
2022	$8,365,195	$7,707,345	$9,514,280	$657,850
2021	$10,291,004	$8,574,526	$8,047,594	$1,716,478
2020	$4,971,081	$4,337,102	$6,055,696	$633,979

THE INNOVATION FOUNDATION AT OKLAHOMA STATE UNIVERSITY INC