Innovation Development Institute Inc

EIN: 463253782 501(c)(3) Unknown

CHICAGO, IL

Total Revenue
$5,876,977
Total Expenses
$6,227,601
Total Assets
$6,539,786
Net Assets
$3,142,374
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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
2013
Legal Domicile
IL
Phone
3123748243
Tax Period
2023-01-01 to 2023-12-31

Innovation Development Institute Inc, founded in 2013, is a community nonprofit in the Unknown sector that reported $5.9M in total revenue in fiscal year 2023.

Mission

MATTER IS A COMMUNITY OF ENTREPRENEURS, INNOVATORS AND INDUSTRY LEADERS WORKING TOGETHER TO ACCELERATE THE PACE OF CHANGE OF HEALTHCARE.

Program Service Accomplishments

Program 1
Expenses: $4,099,897 Revenue: $5,019,181

THE ORGANIZATION EQUIPS, EMBOLDENS AND EMPOWERS INNOVATORS FROM ACROSS THE HEALTHCARE SPECTRUM TO HELP THEM TACKLE COMPLEX CHALLENGES. THE ORGANIZATION EQUIPS INNOVATORS WITH: A CURRICULUM...

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THE ORGANIZATION EQUIPS, EMBOLDENS AND EMPOWERS INNOVATORS FROM ACROSS THE HEALTHCARE SPECTRUM TO HELP THEM TACKLE COMPLEX CHALLENGES. THE ORGANIZATION EQUIPS INNOVATORS WITH: A CURRICULUM PURPOSE-BUILT FOR THEIR NEEDS; MENTORS WHO HAVE BUILT HEALTHCARE BUSINESSES; AND STATE-OF-THE-ART FACILITIES DESIGNED FOR HEALTHCARE COLLABORATION. THE ORGANIZATION EMBOLDENS INNOVATORS BY PROVIDING: A CULTURE OF INNOVATION, EXPERIMENTATION AND COLLABORATION; INSPIRATIONAL KEYNOTES, FIRESIDE CHATS AND PANELS; AND A COMMUNITY OF LIKE-MINDED INDIVIDUALS. THE ORGANIZATION EMPOWERS OUR MEMBERS WITH: ACCESS TO INNOVATORS FROM ACROSS THE HEALTHCARE ECOSYSTEM; AND INNOVATIVE PROGRAMS DESIGNED TO ENHANCE COLLABORATION BETWEEN STAKEHOLDERS. THE ORGANIZATION'S MISSION IS TO ACCELERATE THE DEVELOPMENT OF TECHNOLOGIES THAT SOLVE THE RIGHT HEALTHCARE PROBLEMS IN THE RIGHT WAYS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $727,377
Program Service Revenue $5,019,181
Investment Income $130,419
Other Revenue $0
TOTAL REVENUE $5,876,977

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,383,760
Fundraising Expenses $0
Program Expenses $4,099,897
Other Expenses $2,843,841
TOTAL EXPENSES $6,227,601

Year-over-Year Comparison

2023 2022 Change
Revenue $5,876,977 $5,670,013 +0.0%
Expenses $6,227,601 $5,680,456 +0.1%
Net Income $-350,624 $-10,443 +32.6%
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

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Governance

Voting Members
22
Independent Members
21
Employees
26
Volunteers
240

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
4
$531,206
Total Directors
22
$531,206
Key Employees
3
$808,639
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A SECRETARY 0.5
Officer Director
$0 $0 $0
N/A CHAIR OF THE BOARD (voted in 9/2023) 0.5
Officer Director
$0 $0 $0
N/A TREASURER (voted in 9/2023) 0.5
Officer Director
$0 $0 $0
N/A CEO 40.0
Officer Director
$530,006 $1,200 $531,206
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A Director 0.5
Director
$0 $0 $0
N/A VP, Operations 40.0
Key Emp
$195,503 $1,200 $196,703
N/A Director, Venture Acceleration 40.0
Key Emp
$201,324 $1,200 $202,524
N/A Senior Vice President, Partnerships 40.0
Key Emp
$408,212 $1,200 $409,412
N/A Technology Product Lead 40.0
Highest
$134,646 $600 $135,246
N/A Manager, Partnerships 40.0
Highest
$130,787 $600 $131,387
N/A Senior Director, Partner Engagement 40.0
Highest
$183,688 $2,100 $185,788
N/A Manager, Partnerships 40.0
Highest
$122,949 $600 $123,549
N/A Senior Manager, Partnerships 40.0
Highest
$162,807 $600 $163,407
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 No data No data No data
2023 $5,876,977 $6,227,601 $6,539,786 $-350,624
2022 $5,670,013 $5,680,456 $6,495,499 $-10,443
2022 $5,662,507 $5,590,607 $7,916,485 $71,900
2021 $5,200,844 $4,749,977 $6,803,364 $450,867
2020 $5,034,246 $4,594,242 $6,923,152 $440,004
2019 $4,832,966 $4,895,053 $6,964,932 $-62,087
2018 $4,348,987 $4,552,024 $7,153,117 $-203,037
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