Innovation Depot Inc.
Innovation Depot Inc.
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About this organization
Mission
To provide an environment in which start up/growth phase business can develop
About
Innovation Depot is a 501(c)(3) not-for-profit business incubation program operating in partnership with the University of Alabama at Birmingham. The program is housed in a 140,000 square foot facility that focuses on the development and growth of emerging biotech/life science, information technology, engineering technology, and business service companies. They provide an opportunity for these businesses to develop, grow, and succeed by offering management assistance, identifying financing alternatives, and providing a business incubation center. Innovation Depot, a public-private economic development effort, is funded by the Birmingham regional business community, the Community Foundation of Greater Birmingham, UAB, the city of Birmingham, and other leading private foundation.
Interesting data from their 2020 990 filing
The filing documents outline the non-profit's mission as “To provide an environment in which start up/growth phase business can develop”.
When detailing its duties, they were outlined as: “To provide an environment in which start up/growth phase business can develop”.
- The non-profit's reported state of operation is AL as per legal requirements.
- The filing reveals that the address of the non-profit in 2020 is 1500 1ST AVE N, BIRMINGHAM, AL, 35203.
- The non-profit's form for the year 2020 reports a total of 8 employees on their payroll.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $18,967.
- The compensation policy for the CEO of the organization is established through a review and endorsement from an independent source.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 30 independent voting members.
- The organization was formed in 1985.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule J.
- The organization is required to file Schedule O.
- The organization pays $667,421 in salary, compensation, and benefits to its employees.
- The organization pays $66,741 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has grants to organizations.
- The organization's financial statements were reviewed by an accountant.