Nonprofit · EIN 85-4085470
INNOVATE 120 INC
Tax-exempt · MAQUOKETA, IA 52060
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $244,036 | $185,851 | $58,185 | $158,740 | $5,000 | $153,740 |
| December 31, 2023 | 990 | $242,018 | $148,281 | $93,737 | $129,154 | $0 | $129,154 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $211,449
- of which government grants
- $108,075
- Program service revenue
- $5,839
- Investment income
- $0
- Net rental income
- $11,747
- Other revenue
- $26,748
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $805
- Occupancy
- $18,617
- Depreciation
- $24,612
- Program services (functional)
- $182,987
- Management and general (functional)
- $2,864
Balance sheet and other
- Total assets, start of year
- $129,154
- Total assets, end of year
- $158,740
- Total liabilities, end of year
- $5,000
- Net assets, end of year
- $153,740
- Land, buildings and equipment
- $98,478
- Gross receipts
- $244,036
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2020
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT ABBOTT | PRESIDENT Trustee or director, Officer | – | $0 |
| TIM COTTLE | DIRECTOR Trustee or director | – | $0 |
| NICOLAS HOCKENBERRY | DIRECTOR Trustee or director | – | $0 |
| STEVEN KAHLER | SECRETARY Trustee or director, Officer | – | $0 |
| LINC KROEGER | DIRECTOR Trustee or director | – | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT ABBOTT | PRESIDENT Trustee or director, Officer | 15 | $0 |
| TIM COTTLE | DIRECTOR Trustee or director | 5 | $0 |
| NICOLAS HOCKENBERRY | DIRECTOR Trustee or director | 5 | $0 |
| STEVEN KAHLER | SECRETARY Trustee or director, Officer | 5 | $0 |
| LINC KROEGER | DIRECTOR Trustee or director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 120 S MAIN ST, MAQUOKETA, IA 52060-3034
- In care of
- % ROBERT ABBOTT
- Principal officer (990 for 2024)
- ROBERT ABBOTT, 120 S MAIN STREET, MAQUOKETA, IA 52060
- Signed the 990
- ROBERT ABBOTT, PRESIDENT
- Phone
- (614) 886-4140
- Website
- WWW.FACEBOOK.COM/INNOVATE120
- Return prepared by
- PADGETT BUSINESS SERVICES
Mission
INNOVATE 120 INC IS ORGANIZED FOR CHARITABLE PURPOSES AND SUPPORTS ENTREPRENEURIAL PROGRAMS AND ENTREPRENEUR COACHING FOR STUDENTS AND RESIDENTS.
Program accomplishments
- THE CORPORATION IS PROVIDING ENTREPRENEURIAL SUPPORT, PROGRAMS AND COACHING FOR STUDENTS AND RESIDENTS.Expenses $182,987 · revenue $5,839
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-4085470
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $158,740
- Income (IRS master file)
- $244,036
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $244,036 | $185,851 | $158,740 | XML |
| 990 | December 2023 | $242,018 | $148,281 | $129,154 | XML |
| 990 | December 2022 | $137,490 | $116,359 | $28,274 | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-4085470).
Questions about INNOVATE 120 INC
- What is the EIN of INNOVATE 120 INC?
- The employer identification number (EIN) of INNOVATE 120 INC is 85-4085470.
- Is INNOVATE 120 INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to INNOVATE 120 INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INNOVATE 120 INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INNOVATE 120 INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INNOVATE 120 INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INNOVATE 120 INC?
- The 990 for the year ended December 31, 2024 names ROBERT ABBOTT.
- Who are the officers and directors of INNOVATE 120 INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does INNOVATE 120 INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $244,036, expenses of $185,851 and total assets of $158,740 at year end.
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