2024-08-14T15:52:23-05:00 2023-09-30 270355040 WILKINS MILLER LLC PO BOX 70047 MOBILE AL 36670 990 2023-01-01 823400545 INNOVATION PORTAL INC INNO 2512027165 358 ST LOUIS STREET MOBILE AL 36602 TODD GREER EXECUTIVE DIRECTOR 2512027165 2024-08-13 1 0 MICAH WHEELER P01343147 2514106700 2024-08-13 2023 2024-08-08 14:25:15Z TODD GREER 358 ST LOUIS STREET MOBILE AL 36602 7691520 0 X INNOVATION-PORTAL.COM X 2017 AL INNOVATION PORTAL IS A NON-PROFIT INCUBATOR AND INNOVATION HUB ACCELERATING STARTUP GROWTH IN THE GULF COAST REGION THAT PROVIDES TARGETED ECONOMIC DEVELOPMENT RESEARCH AND PROGRAMMING TO ENCOURAGE SUCCESSFUL LAUNCH, DEVELOPMENT, AND SCALING OF LOCAL VENTURES THAT BENEFIT THE COMMUNITY. INNOVATION PORTAL IS RECOGNIZED AS A QUALIFIED LOCAL ECONOMIC DEVELOPMENT ORGANIZATION AS DEFINED BY THE INNOVATING ALABAMA ACT, SECTION 41-10-840, ET SEQ., CODE OF ALABAMA. 17 17 0 61 0 0 0 7342880 0 246151 0 0 0 102489 0 7691520 0 0 0 0 0 253603 0 0 12772 0 403589 0 657192 0 7034328 0 7101797 0 67469 0 7034328 X INNOVATION PORTAL IS A NON-PROFIT INCUBATOR AND INNOVATION HUB ACCERLATING STARTUP GROWTH IN THE GULF COAST REGION THAT PROVIDES TARGETED ECONOMIC DEVELOPMENT RESEARCH AND PROGRAMMING TO ENCOURAGE SUCCESSFUL LAUNCH, DEVELOPMENT, AND SCALING OF LOCAL VENTURES THAT BENEFIT THE COMMUNITY. INNOVATION PORTAL IS RECOGNIZED AS A QUALIFIED LOCAL ECONOMIC DEVELOPMENT ORGANIZATION AS DEFINED BY THE INNOVATING ALABAMA ACT, SECTION 41-10-840, ET SEQ., CODE OF ALABAMA. 0 0 514147 348640 INNOVATION PORTAL SERVES AS AN ECONOMIC DEVELOPMENT ORGANIZATION WORKING TO ESTABLISH THE GROWTH OF ENTREPRENEURSHIP AND INNOVATION IN SOUTHWEST ALABAMA. THROUGH THIS EFFORT, THE INNOVATION PORTAL CONDUCTS TRAINING AND EDUCATION PROGRAMS, RESEARCH, AND TECHNICAL ASSISTANCE TO SUPPORT THE GROWTH OF LOCAL VENTURES. EXAMPLES OF THIS WORK INCLUDE PROVIDING EDUCATION TO K-12 AND UNIVERSITIES TO ASSIST WITH ENTREPRENEURIAL EDUCATION, ASSISTING IN RESEARCH WITH STAKEHOLDERS REGARDING OPPORTUNITIES TO ADDRESS SUPPLY CHAIN GAPS, AND ASSISTING ENTREPRENEURS IN CAPITAL READINESS. MEMBERS OF THE INNOVATION PORTAL ARE PROVIDED SUPPORT THROUGH USE OF SPACE, TECHNICAL ASSISTANCE, MENTORSHIP, AND EDUCATIONAL PROGRAMMING THAT ALLOWS FOR THEIR GROWTH AND ENGAGEMENT. THESE EFFORTS HAVE LED TO THE INCREASE IN STARTUP ACTIVITY IN SOUTHWEST ALABAMA. 514147 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 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 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 AL X TODD GREER 2512027165 358 ST LOUIS STREET MOBILE AL 36602 HENRY O'CONNOR BOARD CHAIR 1.00 X X 0 0 0 HAYLEY VAN ANTWERP BOARD VICE CHAIR 1.00 X X 0 0 0 MICHAEL CHAMBERS DIRECTOR 1.00 X 0 0 0 NEIL CHRISTOPHER TREASURER 1.00 X X 0 0 0 WES CRONKITE DIRECTOR 1.00 X 0 0 0 CAROLINE CRUMLEY DIRECTOR 1.00 X 0 0 0 KRISTI GALLOWAY DIRECTOR 1.00 X 0 0 0 COLEMAN GREENE DIRECTOR 1.00 X 0 0 0 ABE HARPER DIRECTOR 1.00 X 0 0 0 GEORGE HUNTER DIRECTOR 1.00 X 0 0 0 FRANK LOTT DIRECTOR 1.00 X 0 0 0 TRICE STABLER DIRECTOR 1.00 X 0 0 0 MIKE STASHAK DIRECTOR 1.00 X 0 0 0 ELIZABETH THOMAS DIRECTOR 1.00 X 0 0 0 MEL WASHINGTON DIRECTOR 1.00 X 0 0 0 GIA WIGGINS DIRECTOR 1.00 X 0 0 0 MATT ZARZOUR DIRECTOR 1.00 X 0 0 0 TODD GREER EXECUTIVE DIRECTOR 40.00 X 0 0 0 0 0 0 0 0 0 0 0 169000 7173880 6531684 7342880 DUES - PROGRAMS 611430 225257 225257 STARTUP WEEKEND REVENU 611430 20894 20894 246151 96365 0 96365 96365 96365 MISCELLAENOUS 611430 6124 6124 6124 7691520 348640 0 0 132663 86231 39799 6633 84940 80938 4002 36000 30062 5245 693 14 14 25720 25720 2982 2982 867 867 2212 2212 29280 12286 16994 5645 5081 564 95919 86327 9592 5248 2014 3234 3916 3524 392 118298 106468 11830 41353 37218 4135 TAXES & LICENSES 30128 27115 3013 STIPENDS - PRE-ACCELERA 25000 25000 MEALS 11883 11883 DUES & SUBSCRIPTIONS 4717 4717 407 407 657192 514147 130273 12772 554594 6376 14166 6644959 118298 0 6526661 0 7101797 47387 2393 17689 0 67469 X 427344 6606984 0 7034328 0 7101797 7034328 0 X X 0 1 X 1 0 X 7342880 7342880 7342880 7342880 7342880 7342880 348640 1.00000 X ACCOUNTING PERIOD CHANGE THE CURRENT FILING IS FOR A PERIOD OF LESS THAN ONE YEAR (JANUARY 1, 2023 THROUGH SEPTEMBER 30, 2023) AS THE ORGANIZATION IS CHANGING ITS ANNUAL ACCOUNTING PERIOD. THE ORGANIZATION HAS NOT PREVIOUSLY CHANGED ITS ANNUAL ACCOUNTING PERIOD AT ANY TIME. REVENUE PROCEDURE 85-58 RULES APPLY. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 442000 442000 6190820 115682 6075138 12139 2616 9523 6526661 X 7691520 0 7691520 0 7691520 657192 0 657192 0 657192 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)3. THEREFORE, NO PROVISION FOR INCOME TAXES IS MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, THEREFORE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE TAX YEARS 2020-2023 REMAIN OPEN TO EXAMINATION. X 1 6531684 FMV 0 0 0 SCHEDULE M, PART I, LINE 16 THE AMOUNT REPORTED IS THE FAIR MARKET VALUE OF THE NON-CASH ASSETS CONTRIBUTED OFFSET BY THE LIABILITIES ASSUMED BY THE MOBILE AREA CHAMBER OF COMMERCE FOUNDATION, INC. (THE CHAMBER FOUNDATION) ON 1/1/2023. THE NON-CASH CONTRIBUTION WAS PRIMARILY A BUILDING AND ALSO INCLUDED SOME NON-CASH WORKING CAPITAL. IN ADDITION TO THE NON-CASH CONTRIBUTION, THE DONATION BY THE CHAMBER FOUNDATION ALSO INCLUDED A CASH CONTRIBUTION OF $552,648. PROGRAMS WERE OPERATED WITHIN AND UNDER THE CORPORATE UMBRELLA OF THE CHAMBER FOUNDATION UNTIL JANUARY 1, 2023, WHEN THE CHAMBER FOUNDATION MADE A CONTRIBUTION TO THE INNOVATION PORTAL. EFFECTIVE JANUARY 1, 2023, THE CHAMBER FOUNDATION PASSED THE RESPONSIBILITY AS LEAD RECIPIENT OF AN AWARD FROM THE UNITED STATES DEPARTMENT OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION (EDA), ORIGINALLY ISSUED TO THE CHAMBER FOUNDATION AS WELL AS OWNERSHIP AND RESPONSIBILITY FOR CERTAIN REAL PROPERTY AND THE RELATED AGREEMENT AND MORTGAGE FROM EDA. INNOVATION PORTAL COMMENCED INDEPENDENT OPERATIONS JANUARY 1, 2023. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE 990 IS PREPARED BY THE ORGANIZATION'S ACCOUNTING FIRM AND REVIEWED BY THE ORGANIZATION'S MANAGEMENT. A COPY IS ALSO FURNISHED TO EACH OF THE ORGANIZATION'S BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND DIRECTOR IS ANNUALLY REQUIRED TO ACKNOWLEDGE IN WRITING THEIR RECEIPT OF THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY AND AGREE TO COMPLY WITH THE SAME. FORM 990, PART VI, SECTION C, LINE 18 ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS ACTS AS A COMMITTEE OF THE WHOLE TO PROVIDE OVERSIGHT OF THE AUDIT.