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Nonprofits›Innovation Works Inc

Innovation Works Inc

PITTSBURGH, PA

Website View as a funder

Total revenue

$13.2M

Total expenses

$16.6M

Net assets

$39.8M

Grants received

$2.5M

18 grants

EIN

251588611

Tax year

2023

Mission

Innovation works' mission is to increase the success rate of the region's technology and technology adopting companies through direct investment, business assistance, and infrastructure development. Underlying iw's mission is the belief that innovation is a key engine of growth for the southwestern pennsylvania region. Activities undertaken by innovation works in pursuit of this mission have resulted in significant community development benefits, including creation of jobs, attraction of investment, and increased competitive advantage for companies located in southwestern pennsylvania.

Financials

FY 2023

Revenue

Contributions & grants$10.7M

Program service revenue$1.8M

Investment income$724K

Other revenue$7K

Total revenue$13.2M

Expenses

Grants paid$559K

Salaries & benefits$6.1M

Fundraising$110K

Other expenses$10.0M

Total expenses$16.6M

Total assets$45.8M

Net assets$39.8M

People

23 listed

NameRoleCompensation

MR VEN RAJU

PRESIDENT & CEO

Board

$525K

40 hrs/wk

MR KIRK BOTULA

VP & CSOO

Board

$253K

40 hrs/wk

MR ROBERT STARZYNSKI

VP BUSINESS DEV. & TREASURER

Board

$231K

40 hrs/wk

MS KELLEY BENSON

VP HR & INCLUSION

Board

$218K

40 hrs/wk

MS TERRI GLUECK THRU 124

VP OF COMMUNICATION & COMMUNITY DEV.

Board

$206K

40 hrs/wk

MS KELLI MCMURRAY

SECRETARY & CONTROLLER

Board

$157K

40 hrs/wk

MR ROB A RUTENBAR

BOARD MEMBER

Board

—

0.75 hrs/wk

MS DONNA MYERS

BOARD MEMBER

Board

—

0.75 hrs/wk

MR JIMMY WILLIAMS

BOARD MEMBER

Board

—

0.75 hrs/wk

MR WILLIAM SANDERS

BOARD MEMBER

Board

—

0.75 hrs/wk

MR TOM JONES

BOARD CHAIR (AS OF 1/24)

Board

—

2.5 hrs/wk

MR RON BIANCHINI JR

BOARD MEMBER (AS OF 1/24)

Board

—

0.75 hrs/wk

MS REBECCA DOERGE

BOARD MEMBER (THRU 7/23)

Board

—

0.75 hrs/wk

DR STEVEN REIS

BOARD MEMBER

Board

—

0.75 hrs/wk

MS CATHERINE MOTT THRU 1223

BOARD CHAIR

Board

—

2.5 hrs/wk

MR JOE FERRARA

BOARD MEMBER

Board

—

0.75 hrs/wk

MR JIM JEN

FORMER VP & COO

Staff

$321K

40 hrs/wk

MR RICHARD R LUNAK

FORMER PRESIDENT & CEO

Staff

$219K

40 hrs/wk

MR JEFFERY MCDANIEL

PORTFOLIO EXECUTIVE

Staff

$208K

40 hrs/wk

MS AFSHAN KHAN

PORTFOLIO EXECUTIVE

Staff

$190K

40 hrs/wk

MS DEBORAH WALKER

SR. LEGAL COUNSEL

Staff

$190K

40 hrs/wk

MR AARON TAINTER

DIRECTOR OF ACCELERATOR PROGRAMS

Staff

$170K

40 hrs/wk

MS CIGDEM HAJIPOURAN BENAM

PORTFOLIO EXECUTIVE

Staff

$148K

40 hrs/wk

Independent contractors

BUCHANAN INGERSOLL & ROONEY PC

LEGAL

$249K

Grants received

Showing 18 of 18

FromAmountPurposeYear

CLAUDE WORTHINGTON BENEDUM FOUNDATION

$50K

FOR THE EXPANSION OF STARTABLE, A COMMUNITY- AND SCHOOL-BASED PROGRAM THAT TEACHES THE BUILDING BLOCKS OF ENTREPRENEURSHIP TO SECONDARY STUDENTS, INTO GREENE, FAYETTE, AND WASHINGTON COUNTIES

2024

EQT FOUNDATION

$13K

EDUCATION & WORKFORCE

2024

BNY MELLON FOUNDATION OF SOUTHWESTERN PA

$615K

2023

MCKINNEY CHARITABLE FOUNDATION

$15K

GENERAL SUPPORT

2023

EQT FOUNDATION

$13K

EDUCATION & WORKFORCE

2023

CIERVO FOUNDATION

$5K

GENERAL SUPPORT

2023

BNY MELLON FOUNDATION OF SOUTHWESTERN PA

$615K

GENERAL OPERATING

2022

CIERVO FOUNDATION

$105K

GENERAL SUPPORT - ($100,000) ALG ARTIST RESIDENCY - ($5,000)

2022

RICHARD KING MELLON FOUNDATION

$250K

TO PROVIDE HANDSON BUSINESS ASSISTANCE TO TECHNOLOGY STARTUPS TO IDENTIFY THEIR MOST PRESSING NEEDS AND MAXIMIZE THEIR PROSPECTS FOR COMMERCIAL SUCCESS

2021

CIERVO FOUNDATION

$105K

ALPHA LAB GEAR PROGRAM ($100,000) AND ARTIST-IN RESIDENCE ($5000)

2021

EQT FOUNDATION

$15K

EDUCATION & WORKFORCE

2021

THE JEWISH HEALTHCARE FOUNDATION

$160K

INTERNATIONAL HEALTHCARE SAFETY COMPETITION AND INTERNATIONAL NETWORK