IGNITE INNOVATION TECHNOLOGY FOUND… - Form 990 Financial Data

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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

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.

Program Service Accomplishments

Program 1

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%)

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

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

IGNITE INNOVATION TECHNOLOGY FOUNDATION INC