Overview

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Est.

2007

Fiscal Year Start

Jul 1

Organization Type

Grantseeker

AI Summary

Innovation Valley Inc is a nonprofit organization focused on business promotion and dedicated to charitable, educational, and scientific purposes in Central East Tennessee, specifically in Anderson, Blount, Knox, Loudon, Roane, and Monroe counties. With an operating budget of $4.3K and total revenue of $3.5K for the 2023 filing year, the organization aims to support public education, workforce development, job training, and technological advancements by providing funds to local partnerships and economic development agencies. The organization does not rely on a single funder for 50% or more of its revenue.

Mission Statement

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE EDUCATIONAL AND SCIENTIFIC PURPOSES, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTIONS 501(C)(3) AND 501(C)(6) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE. THE PURPOSE WILL INCLUDE WITHOUT LIMITATION SUPPORT OF PUBLIC EDUCATION, WORKFORCE DEVELOPMENT AND JOB TRAINING AND SUPPORT OF SCIENTIFIC AND TECHNOLOGICAL ADVANCEMENTS IN THE CENTRAL EAST TENNESSEE AREA, INCLUDING WITHOUT LIMITATION ANDERSON, BLOUNT, KNOX, LOUDON, ROANE AND MONROE COUNTIES, PRIMARILY BY PROVIDING FUNDS AND SUPPORT TO ORGANIZATIONS SUCH AS THE BLOUNT PARTNERSHIP, THE KNOXVILLE AREA CHAMBER PARTNERSHIP, ANDERSON COUNTY ECONOMIC DEVELOPMENT AGENCY, THE ROANE ALLIANCE, TELLICO RESERVOIR DEVELOPMENT AGENCY AND LOUDON COUNTY ECONOMIC DEVELOPMENT AGENCY.
Revenues
$3.5K
Expenses
$4.3K
Net Income:
-$743
Assets
$885.4K
Liabilities
$0
Net Assets:
+$885.4K
Operating Budget
$4.3K
Operating Budget by Year

Due Diligence

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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Not in Pub 78 list
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Total No. of Grants
1
Median grant size
$15K
Largest grant received
$15K
M
Mitch Steenrod
Board Member
K
Kim Bumpus
Board Member
J
John Tolsma
Board Member

Frequently Asked Questions

What is INNOVATION VALLEY INC’s budget?
In 2023, INNOVATION VALLEY INC reported an annual operating budget of around $4,282. More detailed financial information is available to registered users.
What causes does INNOVATION VALLEY INC support?
INNOVATION VALLEY INC supports work in Business promotion.
Where does INNOVATION VALLEY INC operate?
INNOVATION VALLEY INC is headquartered in Knoxville, TN.
Who funded INNOVATION VALLEY INC recently?
In 2020, INNOVATION VALLEY INC received grants from KNOXVILLE CBID MANAGEMENT CORPORATION DBA DOWNTOWN KNOXVILLE ALLIANCE, Covenant Health, and UNIVERSITY HEALTH SYSTEM INC. More information on this organization’s funders is available to registered users.
What is the largest grant INNOVATION VALLEY INC received in 2020?
The largest grant to INNOVATION VALLEY INC in 2020 exceeds $15 thousand.