INNOVATE 120 INC

EIN: 854085470 501(c)(3)

MAQUOKETA, IA

Total Revenue
$244,036
Total Expenses
$185,851
Total Assets
$158,740
Net Assets
$153,740
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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
IA
Principal Officer
ROBERT ABBOTT
Phone
6148864140
Tax Period
2024-01-01 to 2024-12-31

INNOVATE 120 INC, founded in 2020, is a small nonprofit that reported $244K in total revenue in fiscal year 2024. The organization ran a surplus of $58K, a strong 24% operating margin.

Mission

INNOVATE 120 INC IS ORGANIZED FOR CHARITABLE PURPOSES AND SUPPORTS ENTREPRENEURIAL PROGRAMS AND ENTREPRENEUR COACHING FOR STUDENTS AND RESIDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $211,449
Program Service Revenue $5,839
Investment Income $0
Other Revenue $26,748
TOTAL REVENUE $244,036

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $182,987
Other Expenses $185,851
TOTAL EXPENSES $185,851

Year-over-Year Comparison

2024 2023 Change
Revenue $244,036 $242,018 +0.0%
Expenses $185,851 $148,281 +0.3%
Net Income $58,185 $93,737 -0.4%
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
5
Independent Members
5
Employees
N/A
Volunteers
5

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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT ABBOTT PRESIDENT N/A
Officer Director
$0 $0 $0
TIM COTTLE DIRECTOR N/A
Director
$0 $0 $0
NICOLAS HOCKENBERRY DIRECTOR N/A
Director
$0 $0 $0
STEVEN KAHLER SECRETARY N/A
Officer Director
$0 $0 $0
LINC KROEGER DIRECTOR N/A
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
2024 $244,036 $185,851 $158,740 $58,185
2023 $242,018 $148,281 $129,154 $93,737
2022 $137,490 $116,359 $28,274 $21,131
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