2024-05-14T14:06:52-05:00 2022-12-31 631133963 Haynes Downard LLP 3161 Cahaba Heights Road Suite 203 Birmingham AL 35243 990 2022-07-01 630917530 Innovation Depot Inc INNO 2052508010 1500 1st Ave North Birmingham AL 35203 Brooke Gillis CEO 2052508010 2024-05-11 1 Brooke Gillis 999009999 1 Lewis F Jones Jr P00013592 2052781000 2024-05-11 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Brooke Gillis 1500 1st Ave North Birmingham AL 35203 1182427 0 X www.innovationdepot.org X 1985 AL To incubate and accelerate tech & bio-focused, high growth businesses by providing teams with a proven blueprint for success, support in strategic areas, and access to an inclusive and supportive community. We add value by being a catalyst for growth to our members, partners, and community. 31 30 0 0 0 0 590499 69000 2567232 1111893 241 138 7171 1396 3165143 1182427 0 0 0 0 734986 322120 0 0 32212 2731278 1437970 3466264 1760090 -301121 -577663 15899017 14237950 4802846 4164754 11096171 10073196 X To incubate and accelerate tech & bio-focused, high growth businesses by providing teams with a proven blueprint for success, support in strategic areas, and access to an inclusive and supportive community. We add value by being a catalyst for growth to our members, partners, and community. 0 0 1496043 1113289 Innovation Depot is a 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. The program provides an opportunity for these businesses to develop, grow, and succeed by offering management assistance, identifying financing alternatives, and providing a business incubation center. Funding is provided by the Birmingham regional business community, the Community Foundation of Greater Birmingham, UAB, the city of Birmingham, and other private foundations. 1496043 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 8 0 0 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 AL X X Brooke Gillis 2052508010 1500 1st Ave North Birmingham AL 35203 X Akl Hanny Board member 1.00 X 0 0 0 Belshe Maggie Board member 1.00 X 0 0 0 Bouknight Nathan Board member 1.00 X 0 0 0 Brown Chris Board member 1.00 X 0 0 0 Childs James Board member 1.00 X 0 0 0 Cranford Adam Board member 1.00 X 0 0 0 Fain Cori Board member 1.00 X 0 0 0 Geisen Jonathan Board member 1.00 X 0 0 0 Girvin Miller Board member 1.00 X 0 0 0 Gordon Deon Board member 1.00 X 0 0 0 Hernandez Andy Board member 1.00 X 0 0 0 Houser Coreata Board member 1.00 X 0 0 0 Jack Eric Board member 1.00 X 0 0 0 Jackson Waymond Board member 1.00 X 0 0 0 Jones Josh Board member 1.00 X 0 0 0 Knight David Board member 1.00 X 0 0 0 Karra Sri Board member 1.00 X 0 0 0 McDonald John Board member 1.00 X 0 0 0 McGlaun Scott Board member 1.00 X 0 0 0 McKinney Danny Board member 1.00 X 0 0 0 Mobley Clayton Board member 1.00 X 0 0 0 Nugent Kathy Board member 1.00 X 0 0 0 Price Gene Board member 1.00 X 0 0 0 Simth Lee Board member 1.00 X 0 0 0 Davis Tiffany Wilder Board member 1.00 X 0 0 0 Summerville Britney Board member 1.00 X 0 0 0 Watts Ray Board member 1.00 X 0 0 0 Wright Will Vice Chair 3.00 X X 0 0 0 Girvin Josh Chair 3.00 X X 0 0 0 Goodrich Bebe Immediate Past Chair 3.00 X X 0 0 0 Gillis Brooke CEO 40.00 X 0 0 0 0 0 0 0 0 0 0 0 X 44000 25000 69000 Rental income to start 900099 1044182 1044182 Velocity fund 900099 50000 50000 Tenant reimbursement o 900099 17711 17711 1111893 138 138 Capital campaign incom 900099 800 800 Miscellaneous income 900099 596 596 1396 1182427 1113289 0 138 X 256396 192297 38459 25640 12130 9097 1821 1212 30735 23051 4610 3074 22859 17144 3429 2286 3799 3799 26875 26875 19335 19335 5425 5425 5382 3739 1643 16901 16901 340181 340181 1228 1228 75622 75622 289952 289952 22961 22961 Bad debt 271255 271255 Repairs and maintenance 230492 205839 24653 Contract labor 34934 34934 Voltage programming 31466 31466 62162 31801 30361 1760090 1496043 231835 32212 X 1177895 792742 175085 175290 545834 25000 24717 41029 33010 27184 20577289 7458895 13859544 13118394 82932 58311 15899017 14237950 58447 61369 4744399 4103385 4802846 4164754 X 10665172 10073196 430999 0 11096171 10073196 15899017 14237950 X -577663 -445312 0 X X 0 1 X 1 0 X 590499 69000 659499 2567232 1111893 3679125 3157731 1180893 4338624 0 0 0 4338624 241 138 379 241 138 379 3157972 1181031 4339003 0.99990 0.00010 X Part III, Short Year Explanation: The current year is a short year. The Organization changed it's year-end to a calendar year reporting period. The current year is a six-month reporting period. The current year is from July 1, 2022 through the year-end of December 31, 2022. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18701064 6075052 12626012 1876225 1383843 492382 13118394 Accrued expenses 12496 Security deposits 171002 CARES Act - PPP funds 101007 Loan payables 3818880 4103385 Form 990, Page 1, Part I, Lines 8-22 Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Form 990, Page 2, Part III, Line 4a Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Form 990, Part VI, Section B, line 11b The Board of Directors receive a full copy of the Form 990 for review prior to the return being filed. Form 990, Part VI, Section B, line 12c The organization requires board members to annually review for conflicts of interest. Members are required to remove conflict or resign position. Form 990, Part VI, Section B, line 15 Board evaluates and approves compensation for the executive director and approves ranges for all others. Form 990, Part VI, Section C, line 19 Documents available to the public, upon request. Form 990, Page 9, Part VIII, Lines 1a-12 Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Form 990, Part IX, line 24e Dues and subscriptions: Program service expenses 0. Management and general expenses 16,608. Fundraising expenses 0. Total expenses 16,608. Impairment: Program service expenses 16,040. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,040. Miscellaneous expenses: Program service expenses 0. Management and general expenses 10,853. Fundraising expenses 0. Total expenses 10,853. Meals: Program service expenses 8,247. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,247. Events: Program service expenses 4,449. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,449. Bank charges: Program service expenses 916. Management and general expenses 1,945. Fundraising expenses 0. Total expenses 2,861. Amortization: Program service expenses 2,149. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,149. Taxes and licenses: Program service expenses 0. Management and general expenses 742. Fundraising expenses 0. Total expenses 742. Training: Program service expenses 0. Management and general expenses 213. Fundraising expenses 0. Total expenses 213. Form 990, Page 10, Part IX, Lines 1-25 Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Form 990, Page 11, Part X, Lines 1b-33b Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Form 990, Page XII, Part XII, Line 2c The Organization has not changed its oversight process or selection process related to the audit from the prior year. Form 990, Page 12, Part XI, Lines 1-10 Amendment: Finalized audit of 2022 financial statements and trial balance have been recently reported. Thus, new/audited amounts were entered into the 990 Return. Entrepreneurial Center 1500 1st Avenue North Birmingham AL 35203 Holding company AL