INNOVATION CONNECTOR INC (EIN 352216589) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

TED BAKER

Phone

7652854900

Tax Period

2024-01-01 to 2024-12-31

INNOVATION CONNECTOR INC, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $884K left a modest 12% surplus.

Mission

TO BE EAST CENTRAL INDIANA'S PRIMARY SPONSOR BRINGING IN TECHNOLOGICAL FIRMS.

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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 $741,868

Program Service Revenue $267,172

Investment Income $66

Other Revenue $0

TOTAL REVENUE $1,009,106

Expense Breakdown

Grants Paid $0

Salaries & Benefits $454,593

Fundraising Expenses $0

Program Expenses $742,543

Other Expenses $429,860

TOTAL EXPENSES $884,453

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,009,106	$748,587	+0.3%
Expenses	$884,453	$851,448	+0.0%
Net Income	$124,653	$-102,861	-2.2%

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

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

$183,655

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONALD FAUQUHER	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
STEFAN ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES BORGMANN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
KRISTEN SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF PARSON	BOARD MEMBER	1.00	Director	$0	$0	$0
DONALD ENGEL	BOARD MEMBER	1.00	Director	$0	$0	$0
DR MATT MARVEL	BOARD MEMBER	1.00	Director	$0	$0	$0
LORRAINE TOMLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
BERNISA ELLIOT	BOARD MEMBER	1.00	Director	$0	$0	$0
THEODORE BAKER	EXECUTIVE DIRECTOR	40.00	Officer	$177,343	$6,312	$183,655
LORI ALBERT	EMPLOYEE	40.00	Highest	$126,665	$6,366	$133,031

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	$1,009,106	$884,453	$2,665,640	$124,653
2023	$748,587	$851,448	$2,613,180	$-102,861
2022	$750,883	$793,133	$2,809,355	$-42,250
2022	$750,717	$837,525	$2,711,069	$-86,808
2021	$740,491	$870,929	$3,188,598	$-130,438
2020	$729,945	$741,952	$3,118,979	$-12,007
2019	$364,993	$750,713	$2,926,290	$-385,720
2018	$270,893	$735,765	$3,359,644	$-464,872

INNOVATION CONNECTOR INC