IGNITE INNOVATION TECHNOLOGY FOUNDATION INC

EIN: 850962837 501(c)(3) Community Improvement

MIAMI BEACH, FL

Total Revenue
$189,647
Total Expenses
$6,348
Total Assets
$640,267
Net Assets
$636,267
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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
2020
Legal Domicile
FL
Principal Officer
DARRELL L CRAPPS
Phone
7036082515
Tax Period
2023-01-01 to 2023-12-31

IGNITE INNOVATION TECHNOLOGY FOUNDATION INC, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $190K in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $183K, a strong 97% operating margin.

Mission

PARTNERING TO PROVIDE PROVEN SOLUTIONS THAT ADDRESS THE UNDERREPRESENTATION OF WOMEN AND MINORITIES IN EMERGING AND ADVANCED TECHNOLOGIES.

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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 $0
Program Service Revenue $0
Investment Income $189,647
Other Revenue $0
TOTAL REVENUE $189,647

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $6,348
TOTAL EXPENSES $6,348

Year-over-Year Comparison

2023 2022 Change
Revenue $189,647 $516,111 -0.6%
Expenses $6,348 $252 +24.2%
Net Income $183,299 $515,859 -0.6%
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
3
Independent Members
3
Employees
N/A
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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARRELL L CRAPPS CHAIRMAN N/A
Officer
$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
2024 No data No data No data No data
2023 $189,647 $6,348 $640,267 $183,299
2022 $516,111 $252 $539,431 $515,859
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