INNOVATION PORTAL INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

TODD GREER

Phone

2512027165

Tax Period

2023-10-01 to 2024-09-30

INNOVATION PORTAL INC, founded in 2017, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $1.4M left a modest 14% surplus.

Mission

INNOVATION PORTAL IS A NON-PROFIT INCUBATOR AND INNOVATION HUB ACCELERATING STARTUP GROWTH IN THE GULF COAST REGION THAT PROVIDES TARGETED ECONOMIC DEVELOPMENT RESEARCH AND PROGRAMMING TO ENCOURAGE SUCCESSFUL LAUNCH, DEVELOPMENT, AND SCALING OF LOCAL VENTURES THAT BENEFIT THE COMMUNITY. INNOVATION PORTAL IS RECOGNIZED AS A QUALIFIED LOCAL ECONOMIC DEVELOPMENT ORGANIZATION AS DEFINED BY THE INNOVATING ALABAMA ACT, SECTION 41-10-840, ET SEQ., CODE OF ALABAMA.

Program Service Accomplishments

Program 1

Expenses: $1,190,740 Revenue: $535,663

INNOVATION PORTAL ADVANCED ITS MISSION TO CULTIVATE A ROBUST ENTREPRENEURIAL ECOSYSTEM IN COASTAL ALABAMA BY DELIVERING HIGH-IMPACT PROGRAMS AND SERVICES THAT SUPPORT EARLY-STAGE BUSINESS DEVELOPMENT AND LONG-TERM ECONOMIC VITALITY. OVER THE FISCAL YEAR, THE ORGANIZATION OPERATED SIX COHORT-BASED PROGRAMS, INCLUDING GBETA GULF COAST, IDEA ACCELERATOR, PORTAL FUND RISE, AND TECHACADEMY, DESIGNED TO GUIDE ENTREPRENEURS FROM IDEA TO EXECUTION. THROUGH THESE INITIATIVES, ALONG WITH THE REAL ADVICE MENTORING PROGRAM AND A NEWLY LAUNCHED VENTURE STUDIO FOCUSED ON INDUSTRY-SPECIFIC R&D, INNOVATION PORTAL SUPPORTED OVER 75 ENTREPRENEURS AND VENTURES, ENGAGED MORE THAN 1,000 COMMUNITY MEMBERS, AND HOSTED OVER 125 EVENTS AND 48 EDUCATIONAL SESSIONS. THESE EFFORTS RESULTED IN MORE THAN $4 MILLION IN CAPITAL RAISED BY PARTICIPATING STARTUPS AND THE FORMAL LAUNCH OF 20 NEW BUSINESSES. THE ORGANIZATION ALSO ACHIEVED ITS GOAL OF EXPANDING ACCESS TO TECHNICAL ASSISTANCE AND RESOURCES, FORMING NEW PARTNERSHIPS WITH NATIONAL ORGANIZATIONS TO STRENGTHEN THE REGIONAL INNOVATION PIPELINE. A MAJOR MILESTONE INCLUDED THE SUCCESSFUL LAUNCH OF A REGIONALLY TAILORED ACCELERATOR PROGRAM FEATURING 10 COMPANIES ALIGNED WITH KEY GULF COAST INDUSTRIES. THESE ACCOMPLISHMENTS REFLECT INNOVATION PORTAL'S STRATEGIC COMMITMENT TO FOSTERING INCLUSIVE INNOVATION, DRIVING BUSINESS GROWTH, AND CREATING LASTING ECONOMIC IMPACT FOR THE COMMUNITY.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,119,957

Program Service Revenue $343,546

Investment Income $1,700

Other Revenue $192,117

TOTAL REVENUE $1,657,320

Expense Breakdown

Grants Paid $0

Salaries & Benefits $406,965

Fundraising Expenses $53,067

Program Expenses $1,190,740

Other Expenses $1,024,393

TOTAL EXPENSES $1,431,358

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,657,320	$7,691,520	-0.8%
Expenses	$1,431,358	$657,192	+1.2%
Net Income	$225,962	$7,034,328	-1.0%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

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

$162,062

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WES CRONKITE	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
ELIZABETH THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
HAYLEY VAN ANTWERP	FOUNDING EXECUTIVE DIRECTOR	1.00	Director	$0	$0	$0
HENRY O'CONNOR	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL CHAMBERS	DIRECTOR	1.00	Director	$0	$0	$0
NEIL CHRISTOPHER	TREASURER	1.00	Officer Director	$0	$0	$0
KRISTI GALLOWAY	DIRECTOR	1.00	Director	$0	$0	$0
ABE HARPER	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
FRANK LOTT	DIRECTOR	1.00	Director	$0	$0	$0
TRICE STABLER	DIRECTOR	1.00	Director	$0	$0	$0
MIKE STASHAK	DIRECTOR	1.00	Director	$0	$0	$0
MEL WASHINGTON	DIRECTOR	1.00	Director	$0	$0	$0
GIA WIGGINS	DIRECTOR	1.00	Director	$0	$0	$0
MATT ZARZOUR	DIRECTOR	1.00	Director	$0	$0	$0
HUNTER ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
ANITRA HENDERSON	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK SEALS	DIRECTOR	1.00	Director	$0	$0	$0
TODD GREER	EXECUTIVE DIRECTOR	40.00	Officer	$162,062	$0	$162,062

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	$1,657,320	$1,431,358	$8,757,842	$225,962
2023	$7,691,520	$657,192	$7,101,797	$7,034,328