INNOVATION WORKS INC

EIN: 823417166 501(c)(3) Community Improvement

BALTIMORE, MD

Total Revenue
$1,432,816
Total Expenses
$1,425,938
Total Assets
$1,342,855
Net Assets
$1,303,995
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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
2017
Legal Domicile
MD
Principal Officer
A JAY NWACHU
Phone
4109211035
Tax Period
2023-07-01 to 2024-06-30

INNOVATION WORKS INC, founded in 2017, is a community nonprofit in the Community Improvement sector that reported $1.4M in total revenue in fiscal year 2023.

Mission

THE CORPORATION WILL DEVELOP SUSTAINABLE NEIGHBORHOOD ECONOMIES IN DEPRESSED AREAS BY: IGNITING INTEREST IN SUSTAINABLE SOCIAL ENTERPRISE, HELPING INDIVIDUALS TRANSFORM CHALLENGES INTO OPPORTUNITIES, CREATING SUSTAINABLE SOCIAL ENTERPRISES, GROWING FAMILY WAGE JOBS, AND SCALING LOCAL SOLUTIONS TO NATIONAL MARKETS. TRAINING AND DEVELOPING ENTREPRENEURS WILL BE A TOP PRIORITY THROUGH PROGRAMMING AND EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $357,349

SOCIAL ENTERPRISE DEVELOPMENT PIPELINE

Program 2
Expenses: $106,353

STRATEGIC INITIATIVES, FOCUSED ON SECTOR-BASED ECONOMIC DEVELOPMENT.

Program 3
Expenses: $234,431

PROGRAM SUPPORT CONTRACTS, FOR ORGANIZATIONAL CAPACITY DEVELOPMENT INCLUDING CURRICULUM DEVELOPMENT AND IMPACT DATA MEASUREMENT.

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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 $1,429,584
Program Service Revenue $0
Investment Income $3,232
Other Revenue $0
TOTAL REVENUE $1,432,816

Expense Breakdown

Grants Paid $4,500
Salaries & Benefits $966,196
Fundraising Expenses $295,103
Program Expenses $698,133
Other Expenses $455,242
TOTAL EXPENSES $1,425,938

Year-over-Year Comparison

2023 2022 Change
Revenue $1,432,816 $1,417,211 +0.0%
Expenses $1,425,938 $1,280,042 +0.1%
Net Income $6,878 $137,169 -0.9%
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
16
Independent Members
16
Employees
14
Volunteers
106

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
$144,502
Total Directors
17
$144,502
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
A JAY NWACHU CEO 40.00
Officer Director
$144,502 $0 $144,502
DAN RIZZO PRESIDENT 4.00
Officer Director
$0 $0 $0
DR FRANK LANCE DIRECTOR 4.00
Director
$0 $0 $0
FRANCIS KNOTT DIRECTOR 14.00
Director
$0 $0 $0
JIM PETERSON JR DIRECTOR 4.00
Director
$0 $0 $0
NATASHA M DARTIGUE DIRECTOR 4.00
Director
$0 $0 $0
NKENGE YASIN DIRECTOR 4.00
Director
$0 $0 $0
PAMELA ROUSSOS DIRECTOR 4.00
Director
$0 $0 $0
REV GREGORY CHISHOLM SJ DIRECTOR 4.00
Director
$0 $0 $0
RUSSELL JOYNER DIRECTOR 4.00
Director
$0 $0 $0
SABRINA DEPESTRE DIRECTOR 4.00
Director
$0 $0 $0
STEPHEN ABRAMS DIRECTOR 4.00
Director
$0 $0 $0
TERRENCE M SAWYER DIRECTOR 4.00
Director
$0 $0 $0
TINA RODRIGUEZ VICE - PRESIDENT 4.00
Officer Director
$0 $0 $0
NICK NAPOLITANO TREASURER 4.00
Officer Director
$0 $0 $0
JOHN BUSSE DIRECTOR 4.00
Director
$0 $0 $0
ANTHONY WATTERS JR DIRECTOR 4.00
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
2025 No data No data No data No data
2024 $1,432,816 $1,425,938 $1,342,855 $6,878
2023 $1,417,211 $1,280,042 $1,335,001 $137,169
2022 $1,241,077 $965,386 $1,246,839 $275,691
2021 $867,783 $989,446 $838,851 $-121,663
2020 $847,250 $519,368 $666,946 $327,882
2019 $486,833 $380,008 $315,919 $106,825
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