THE ARKANSAS REGIONAL INNOVATION HUB INC

EIN: 463376034 501(c)(3)

NORTH LITTLE ROCK, AR

Total Revenue
$1,003,839
Total Expenses
$1,181,352
Total Assets
N/A
Net Assets
N/A
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
AR
Principal Officer
ERRIN STANGER
Phone
5019076570
Tax Period
2021-01-01 to 2021-12-31

THE ARKANSAS REGIONAL INNOVATION HUB INC, founded in 2013, is a small nonprofit that reported $466K in total revenue in fiscal year 2018. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 214% operating deficit.

Mission

THE INNOVATION HUB IS A NON PROFIT ORGANIZATION DEDICATED TO IMPROVING THE LIVES OF ARKANSANS BY INSPIRING INNOVATION AND EXPANDING OPPORTUNITIES. WE SEE AN ARKANSAS WHERE, REGARDLESS OF DEMOGRAPHIC IDENTIFIERS OR GEOGRAPHIC LOCATION, ARKANSANS ARE GENERATING AND INSPIRING INNOVATION IN CUTTING-EDGE TECHNOLOGY, BUSINESS, AND CREATIVE FIELDS. THE INNOVATION HUB USES TOOLS, SKILLS, AND EXPERTISE TO INSPIRE INNOVATORS AND ENTREPRENEURS WHO EXPAND THE RANGE OF EDUCATIONAL AND ECONOMIC OPPORTUNITIES FOR THEMSELVES, FOR THEIR COMMUNITIES, IN OUR STATE AND THROUGHOUT THE WORLD.

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Trantor Score

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

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $851,644
Program Service Revenue $142,181
Investment Income $0
Other Revenue $10,014
TOTAL REVENUE $1,003,839

Expense Breakdown

Grants Paid $0
Salaries & Benefits $556,768
Fundraising Expenses $0
Program Expenses $894,741
Other Expenses $624,584
TOTAL EXPENSES $1,181,352

Year-over-Year Comparison

2021 2020 Change
Revenue $1,003,839 $1,364,006 -0.3%
Expenses $1,181,352 $1,334,520 -0.1%
Net Income $-177,513 $29,486 -7.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
4
Independent Members
N/A
Employees
14
Volunteers
50

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
5
$1,532,962
Total Directors
4
$1,768,135
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RODNEY FERGUSON PRESIDENT 1.00
Officer Director
$0 $52,053 $672,409
MIKE MYERS TREASURER 1.00
Officer Director
$0 $50,145 $369,959
JOYJIT DEB ROY BOARD MEMBER 2.00
Director
$0 $43,193 $389,878
CHARLOTTE YOUNG SECRETARY 1.00
Officer Director
$0 $47,231 $335,889
CHRISTOPHER JONES FORMER EXECUTIVE DIRECTOR 40.00
Officer
$51,000 $1,409 $52,409
ERRIN STANGER ACTING DIRECTOR 40.00
Officer
$96,067 $6,229 $102,296
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
2021 $1,003,839 $1,181,352 No data $-177,513
2020 $1,364,006 $1,334,520 $5,088,957 $29,486
2019 $894,138 $1,563,403 $4,560,479 $-669,265
2018 $465,941 $1,462,806 $4,437,378 $-996,865
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