Nonprofit · EIN 90-0176361
OCTANE FOUNDATION FOR INNOVATION
Tax-exempt · NEWPORT BEACH, CA 92660
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $909,812 | $964,270 | -$54,458 | $1,045,051 | $1,507,608 | -$462,557 |
| December 31, 2023 | 990 | $1,110,270 | $1,431,909 | -$321,639 | $1,945,323 | $2,353,422 | -$408,099 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $907,469
- of which government grants
- $436,907
- Program service revenue
- $0
- Investment income
- $343
- Other revenue
- $2,000
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $94,323
- Other salaries and wages
- $253,190
- Salaries, compensation and benefits (total)
- $356,382
- Professional fundraising fees
- $0
- Legal fees
- $42,093
- Accounting fees
- $5,500
- Travel
- $1,230
- Program services (functional)
- $964,270
Balance sheet and other
- Total assets, start of year
- $1,945,323
- Total assets, end of year
- $1,045,051
- Total liabilities, end of year
- $1,507,608
- Net assets, end of year
- -$462,557
- Gross receipts
- $909,812
- Employees
- 0
- Volunteers
- 300
- Year formed
- 2004
- State of legal domicile
- CA
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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| WILLIAM CARPOU | EXECUTIVE DIRECTOR Trustee or director, Officer | 0.5 | $0 | $410,144 | $23,588 |
| JANELLE BRUNETTE | CHIEF OPERATING OFFICER Officer | 6 | $0 | $355,394 | $21,717 |
| HALEH ARMIAN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| SHERYL BOURGEOIS | BOARD MEMBER (UNTIL 12/10/24) Trustee or director | 0.5 | $0 | $0 | $0 |
| LINNEA BURMAN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| SEAN CRAFTS | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| LINDA DIMARIO | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JAG DOSANJH | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| BRUCE FEUCHTER | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| RUSS GARCIA | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| MARINELA GOMBOSEV | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| EMILE HADDAD | BOARD MEMBER (UNTIL 12/10/24) Trustee or director | 0.5 | $0 | $0 | $0 |
| BRUCE HALLETT | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| BOB JACOBSON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JASON LANTGEN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
13 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JENNIFER LEUER | BOARD MEMBER Trustee or director | 0.5 | $0 |
| WAYNE MARKOWITZ | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GORAN MATIJASEVIC | BOARD MEMBER Trustee or director | 0.5 | $0 |
| CELINE MARTIN | BOARD MEMBER Trustee or director | 0.5 | $0 |
| JIM MAZZO | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DAVID MOATAZEDI | BOARD MEMBER Trustee or director | 0.5 | $0 |
| NEIL SAHOTA | BOARD MEMBER (UNTIL 12/10/24) Trustee or director | 0.5 | $0 |
| CARRIE STROM | BOARD MEMBER Trustee or director | 0.5 | $0 |
| BRETT WALL | BOARD MEMBER Trustee or director | 0.5 | $0 |
| SCOTT WHITCUP | BOARD MEMBER Trustee or director | 0.5 | $0 |
| CLAY WILEMON | BOARD MEMBER Trustee or director | 0.5 | $0 |
| IAN WILLIAMSON | BOARD MEMBER Trustee or director | 0.5 | $0 |
| DOMINIQUE WORTHINGTON | BOARD MEMBER (UNTIL 12/10/24) Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 30 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| WILLIAM CARPOU | EXECUTIVE DIRECTOR Trustee or director, Officer | 4 | $0 | $389,861 | $21,856 |
| JANELLE BRUNETTE | CHIEF OPERATING OFFICER Officer | 6 | $0 | $321,441 | $10,630 |
| ZEESHAN SUBZWARI | MANAGING DIRECTOR Highest-paid employee | 39.5 | $257,744 | $0 | $5,751 |
| ANDREW GUARNI | BOARD MEMBER UNTIL 05/23 Trustee or director | 0.5 | $0 | $0 | $0 |
| BOB JACOBSON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| BRETT WALL | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| BRUCE FEUCHTER | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| BRUCE HALLETT | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| CARRIE STROM | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| CLAY WILEMON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| DAVID MOATAZEDI | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| DAVID ZOLLINGER | BOARD MEMBER UNTIL 05/23 Trustee or director | 0.5 | $0 | $0 | $0 |
| DOMINIQUE WORTHINGTON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| EMILE HADDAD | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| GORAN MATIJASEVIC | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| HALEH ARMIAN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| IAN WILLIAMSON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JAG DOSANJH | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JASON LANTGEN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JENNIFER LEUER | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JIM MAZZO | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| JOHN CASALASPI | BOARD MEMBER UNTIL 09/23 Trustee or director | 0.5 | $0 | $0 | $0 |
| LINDA DIMARIO | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| MARINELA GOMBOSEV | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| NEIL SAHOTA | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| RUSS GARCIA | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| SCOTT WHITCUP | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| SEAN CRAFTS | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| SHERYL BOURGEOIS | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 | $0 |
| STEVEN LITCHFIELD | BOARD MEMBER UNTIL 05/23 Trustee or director | 0.5 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4041 MACARTHUR BLVD STE 260, NEWPORT BEACH, CA 92660-2534
- Principal officer (990 for 2024)
- WILLIAM CARPOU, 4041 MACARTHUR BLVD 260, NEWPORT BEACH, CA 92660
- Signed the 990
- WILLIAM CARPOU, PRESIDENT & CEO
- Phone
- (949) 459-3366
- Return prepared by
- RSM US LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 90-0176361 or by the name OCTANE FOUNDATION FOR INNOVATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
OCTANE FOUNDATION FOR INNOVATION (OFI) IS TARGETED TO ADVANCE EQUITY, DIVERSITY, AND INCLUSIVENESS ACROSS ALL INDUSTRY SECTORS WITH THE MISSION OF GROWING & STRENGTHENING THE SOUTHERN CALIFORNIA INNOVATION ECOSYSTEM BY CREATING JOBS, SCALING STARTUPS, AND DEVELOPING BUSINESSES. OFI ENHANCES THE ECONOMIC VITALITY OF THE REGION, CONTRIBUTING TO A SUSTAINABLE ECOSYSTEM AND AUGMENTING THE LIVE/WORK EXPERIENCE IN ORANGE COUNTY, CA.
Program accomplishments
- THE OCTANE FOUNDATION FOR INNOVATION (OFI) WAS LAUNCHED AS A COMPLEMENT TO OCTANE'S MISSION OF CREATING 55,000+ HIGH-PAYING JOBS BY 2030. THE FOUNDATION IS TARGETED TO ADVANCE EQUITY, DIVERSITY, AND INCLUSIVENESS ACROSS ALL INDUSTRY SECTORS ALONGSIDE OCTANE'S AMBITIOUS MISSION OF GROWING & STRENGTHENING THE SOUTHERN CALIFORNIA INNOVATION ECOSYSTEM BY CREATING JOBS, SCALING STARTUPS, AND DEVELOPING BUSINESSES. OCTANE AND OFI WORK WITH PARTNERS TO ENHANCE THE ECONOMIC VITALITY OF THE REGION, CONTRIBUTE TO A SUSTAINABLE ECOSYSTEM AND AUGMENT THE LIVE/WORK EXPERIENCE IN ORANGE COUNTY.OCTANE FOUNDATION FOR INNOVATION'S WORK IS ACHIEVED THROUGH OUR INITIATIVES, LAUNCHPAD SBDC, WOMEN LEADERS OF OCTANE, NON-PROFIT ACCELERATOR, STEAM AHEAD, AND HEALTHSOCAL.AI. THESE INITIATIVES COVER THE SPECTRUM OF OPPORTUNITIES FOR STARTUP ENTREPRENEURS, STUDENTS, WOMEN, AND UNDERSERVED AND UNDERREPRESENTED COMMUNITIES. LAUNCHPAD SBDC:ACCELERATES ENTREPRENEURS AND START-UPS THROUGH A COMPREHENSIVE PROGRAM THAT QUICKLY IDENTIFIES AND CONNECTS GREAT PEOPLE, CAPITAL AND TECHNOLOGY. LAUNCHPAD PROVIDES CRITICAL, INDIVIDUALIZED AND VALUE-ADDED SUPPORT TO EARLY STAGE BIOMEDICAL AND INFORMATION TECHNOLOGY COMPANIES THROUGH MENTORING, COACHING, AND EDUCATION. THE LAUNCHPAD SBDC IS HOSTED BY OCTANE FOUNDATION FOR INNOVATION AND IS FUNDED IN PART THROUGH A COOPERATIVE AGREEMENT WITH THE U.S. SMALL BUSINESS ADMINISTRATION AND CALIFORNIA STATE UNIVERSITY FULLERTON AND EXTENDED TO THE PUBLIC ON A NON-DISCRIMINATORY BASIS. LAUNCHPAD SBDC IS PART OF THE ORANGE COUNTY/INLAND EMPIRE REGIONAL SBDC NETWORK. ORANGE COUNTY TECHNOLOGY ACTION NETWORK (DBA OCTANE) CONTRIBUTES A 100% CASH MATCH, ALONG WITH SBDC/SBA, TO ANY EXPENSES INCURRED THROUGH THIS CONTRACT.NON-PROFIT ACCELERATOR:THE NON-PROFIT ACCELERATOR PROVIDES NON-PROFITS WITH THE TOOLS THEY NEED TO EXPAND THEIR IMPACT IN THE COMMUNITY, SPECIFICALLY THOSE NON-PROFITS THAT SERVE UNDER-REPRESENTED PEOPLE IN STEAM AND HEALTHCARE. BY ADAPTING OCTANE'S AWARD-WINNING LAUNCHPAD SBDC EVALUATION PROCESS, NON-PROFITS RECEIVE A SIMILAR EVALUATION OF THEIR ORGANIZATION AND EXPERT ADVICE. THE GRADUATES OF THE NON-PROFIT ACCELERATOR EMERGE MORE EMPOWERED AND CAPABLE OF IMPROVING THE LIVES AND COMMUNITIES OF THE PEOPLE THEY SERVE.WOMEN LEADERS OF OCTANE:THE PURPOSE OF WOMEN LEADERS OF OCTANE (WLO) IS TO GROW THE STRENGTH AND IMPACT OF THE OC INNOVATION ECOSYSTEM BY INCREASING THE RANKS OF WOMEN ENTREPRENEURS AND BUSINESS LEADERS, ACCESS TO FUNDING, AND MORE INFLUENCE ON BOARDS, FUELED BY OCTANE NETWORKS AND RESOURCES.STEAM AHEAD: THE STEAM AHEAD PROGRAM PROVIDES PRACTICAL, REAL-WORLD EXPERIENCES THAT ENCOURAGE STUDENTS TO LEARN AND EXPLORE JOBS, CAREERS, AND ENTREPRENEURSHIP OPPORTUNITIES. THIS EXPERIENCE DELIVERS AN INTERACTIVE PROGRAM THAT FOSTERS CAREER AND WORKPLACE READINESS AND INSPIRES AN INTER-GENERATIONAL CULTURE OF PURPOSEFUL LEADERSHIP. PARTICIPATION INCLUDES ACCESS TO OCTANE MEDTECH AND TECH EVENTS, SUBJECT MATTER EXPERTS, WEBINARS, AND INVITATIONS TO PARTNER EVENTS OPENING THE DOOR TO ORANGE COUNTY'S INNOVATION ECOSYSTEM.NEXT WAVE LEADERS: THE NEXT WAVE INITIATIVE IS DESIGNED TO RECRUIT AND ENGAGE NEW GENERATIONS OF INDUSTRY AND COMMUNITY LEADERSHIP IN THE CONTINUOUS DEVELOPMENT AND RESPONSIBLE GROWTH OF THE ORANGE COUNTY INNOVATION ECOSYSTEM. IN ADDITION TO CONTRIBUTING TO THE QUALITY OF THE LIVE/WORK EXPERIENCE, THIS INITIATIVE SEEKS TO INSPIRE THE NEXT GENERATION OF INDUSTRY LEADERSHIP TO A PURPOSE-DRIVEN, INTENTIONAL LEADERSHIP CULTURE THAT WILL STRENGTHEN AND DISTINGUISH ORANGE COUNTY AND POSITION IT TO COMPETE FAVORABLY FOR RETAINING AND ATTRACTING TALENT.HEALTHSOCAL.AIHEALTHSOCAL.AI IS AN END-TO-END ECOSYSTEM OF WORLD-CLASS HEALTHCARE AND AI EXPERTS THAT COLLABORATE ON SOLVING COMPLEX HEALTHCARE CHALLENGES. FROM PERSONALIZED HEALTH STRATEGIES TO DATA-DRIVEN CARE COORDINATION, WE AIM TO TRANSFORM THE WAY WE APPROACH HEALTHCARE.Expenses $964,270
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
- 90-0176361
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2005
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S02)
- Assets (IRS master file)
- $1,045,051
- Income (IRS master file)
- $909,812
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $909,812 | $964,270 | $1,045,051 | XML |
| 990 | December 2023 | $1,110,270 | $1,431,909 | $1,945,323 | XML |
| 990 | December 2022 | $1,059,886 | $1,294,568 | $1,259,116 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 90-0176361).
Questions about OCTANE FOUNDATION FOR INNOVATION
- What is the EIN of OCTANE FOUNDATION FOR INNOVATION?
- The employer identification number (EIN) of OCTANE FOUNDATION FOR INNOVATION is 90-0176361.
- Is OCTANE FOUNDATION FOR INNOVATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
- Are donations to OCTANE FOUNDATION FOR INNOVATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does OCTANE FOUNDATION FOR INNOVATION 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 OCTANE FOUNDATION FOR INNOVATION 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 OCTANE FOUNDATION FOR INNOVATION 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 OCTANE FOUNDATION FOR INNOVATION?
- The 990 for the year ended December 31, 2024 names WILLIAM CARPOU.
- Who are the officers and directors of OCTANE FOUNDATION FOR INNOVATION?
- The 990 for the year ended December 31, 2024 lists 28 people; 0 received compensation from the organization.
- How much revenue does OCTANE FOUNDATION FOR INNOVATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $909,812, expenses of $964,270 and total assets of $1,045,051 at year end.
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All nonprofits in NEWPORT BEACH · California · Community improvement and capacity building