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Innovation Foundation Inc

Innovation Foundation Inc

Chicago, IL 60607
Tax ID80-0633175

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About this organization

Revenue

$3,671,842

Expenses

$3,854,747

Website

chicagoideas.com

Mission

Chicago Ideas aims to be the world’s leading catalyst for inspiring, connecting, and empowering curious people in order to make the world a better place.

About

Chicago Ideas Week's mission is to promote and encourage sharing ideas, inspiring action, and igniting change to positively impact the world. The program annually hosts Chicago Ideas Week which brings together some of the world's most outstanding speakers to present their ideas and inspire the innovations of tomorrow at various sessions across the city of Chicago.

Interesting data from their 2020 990 filing

The purpose of the non-profit is listed in the filing as “The innovation foundation was formed to institutionalize the non-profit activities of chicago ideas week. one program with the goal of philanthropically creating a positive impact on the educational and intellectual community of chicago.”.

When discussing its operations, they were characterized as: “The innovation foundation was formed to institutionalize the non-profit activities of chicago ideas week.”.

  • The non-profit's legally reported state of operation is IL.
  • The filing states that the non-profit's address in the year 2020 is 285 OLD GREEN BAY ROAD, GLENCOE, IL, 60022.
  • The form submitted by the non-profit for 2020 shows a total of 29 employees.
  • 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 -$182,905.
  • The remuneration plan for the CEO of the organization is based on a review and approval process by a neutral entity.
  • The organization has 7 independent voting members.
  • The organization was formed in 2010.
  • 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 $1,421,714 in salary, compensation, and benefits to its employees.
  • The organization pays $381,104 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization's financial statements were reviewed by an accountant.

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