Innovo Foundation
Innovo Foundation faces asset depletion amid negative revenue and increasing expenses.
EIN: 202982900 · Boulder, CO · NTEE: T20 · Updated: 2026-03-28
Is Innovo Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Innovo Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Innovo Foundation
Innovo Foundation (EIN: 202982900) is a nonprofit organization based in Boulder, CO, classified under NTEE code T20. The organization reported total revenue of $3.0M and total assets of $5.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Innovo Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Innovo Foundation is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -283.1% | -21.0% | -16.7% |
| 2022 | -84.2% | +43.1% | -12.6% |
| 2021 | -71.9% | +47.1% | +1.3% |
| 2020 | +543.6% | +66.7% | +51.5% |
| 2019 | +329.9% | +49.3% | +46.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Innovo Foundation with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Innovo Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Innovo Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a strong positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Innovo Foundation's IRS 990 filings:
- Significant negative revenue in 2023 (-$252,713), indicating financial instability.
- Consistent asset depletion, with assets decreasing from $7,720,939 in 2021 to $5,622,962 in 2023.
- Expenses consistently exceeding revenue in recent years (e.g., 2023 expenses $875,278 vs. revenue $-252,713; 2022 expenses $1,108,025 vs. revenue $138,039).
- Unusually low and consistent $1 reported for liabilities across multiple recent filings, which may suggest incomplete financial reporting.
Strengths
The following positive indicators were identified for Innovo Foundation:
- No officer compensation reported across all filings, indicating efficient use of funds for leadership costs.
- History of significant revenue generation in certain years (e.g., $3,116,300 in 2020).
Frequently Asked Questions about Innovo Foundation
Is Innovo Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Innovo Foundation (EIN: 202982900) some concerns. Mission Score: 55/100. 4 red flags identified, 2 strengths noted.
How does Innovo Foundation spend its money?
Innovo Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Innovo Foundation tax-deductible?
Innovo Foundation is registered as a tax-exempt nonprofit (EIN: 202982900). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant negative revenue of -$252,713 in 2023?
The IRS 990 data indicates a substantial negative revenue in 2023, which could be due to investment losses, significant returns of contributions, or other financial adjustments. Further details would require examining the full 990 form's Statement of Revenue.
Why have assets decreased by over $2 million from 2021 to 2023?
The decrease in assets from $7,720,939 in 2021 to $5,622,962 in 2023 is likely a result of the organization's expenses ($875,278 in 2023 and $1,108,025 in 2022) consistently exceeding its revenue, particularly the negative revenue in 2023.
Is the reported $1 in liabilities accurate across multiple years?
The consistent reporting of $1 in liabilities across several recent filings (2023, 2022, 2021, 2020, 2019) is unusual for an organization of this size and could indicate an oversight or a simplified reporting method. It warrants further investigation into the organization's balance sheet.
Filing History
IRS 990 filing history for Innovo Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Innovo Foundation's revenue has declined by 176.8%, moving from $329K to $-252,713. Total assets increased by 113.8% over the same period, from $2.6M to $5.6M. Total functional expenses rose by 595.4%, from $126K to $875K. The organization holds $1 in liabilities against $5.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-252,713 | $875K | $5.6M | $1 | — | — |
| 2022 | $138K | $1.1M | $6.8M | $1 | — | View 990 |
| 2021 | $875K | $774K | $7.7M | $1 | — | View 990 |
| 2020 | $3.1M | $526K | $7.6M | $1 | — | View 990 |
| 2019 | $484K | $316K | $5.0M | $1 | — | — |
| 2015 | $113K | $211K | $3.4M | $5K | — | View 990 |
| 2014 | $541K | $143K | $3.6M | $32K | — | View 990 |
| 2013 | $49K | $213K | $3.2M | $55K | — | View 990 |
| 2012 | $799K | $133K | $3.3M | $3K | — | View 990 |
| 2011 | $329K | $126K | $2.6M | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-252,713, expenses of $875K, and assets of $5.6M (revenue -283.1% year-over-year).
- 2022: Revenue of $138K, expenses of $1.1M, and assets of $6.8M (revenue -84.2% year-over-year).
- 2021: Revenue of $875K, expenses of $774K, and assets of $7.7M (revenue -71.9% year-over-year).
- 2020: Revenue of $3.1M, expenses of $526K, and assets of $7.6M (revenue +543.6% year-over-year).
- 2019: Revenue of $484K, expenses of $316K, and assets of $5.0M (revenue +329.9% year-over-year).
- 2015: Revenue of $113K, expenses of $211K, and assets of $3.4M (revenue -79.2% year-over-year).
- 2014: Revenue of $541K, expenses of $143K, and assets of $3.6M (revenue +1008.4% year-over-year).
- 2013: Revenue of $49K, expenses of $213K, and assets of $3.2M (revenue -93.9% year-over-year).
- 2012: Revenue of $799K, expenses of $133K, and assets of $3.3M (revenue +142.9% year-over-year).
- 2011: Revenue of $329K, expenses of $126K, and assets of $2.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Innovo Foundation:
Data Sources and Methodology
This transparency report for Innovo Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.