INNOVATION PORTAL INC
AI Summary
Innovation Portal Inc is a nonprofit incubator and innovation hub dedicated to accelerating startup growth in the Gulf Coast region, focusing on economic development through targeted research and programming. With an operating budget of $1.4 million and total revenue of $1.7 million for the 2024 filing year, the organization is recognized as a qualified local economic development organization under the Innovating Alabama Act. Innovation Portal does not rely on a single funder for 50% or more of its revenue, ensuring a diversified funding base to support its mission.
Mission Statement
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.
Cause Areas
1
Economic development
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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Eligible for tax-deductible gifts
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Frequently Asked Questions
What is INNOVATION PORTAL INC’s budget?
In 2024, INNOVATION PORTAL INC reported an annual operating budget of around $1.4 million. More detailed financial information is available to registered users.
What causes does INNOVATION PORTAL INC support?
INNOVATION PORTAL INC supports work in Economic development.
Where does INNOVATION PORTAL INC operate?
INNOVATION PORTAL INC is headquartered in Mobile, AL.
Who funded INNOVATION PORTAL INC recently?
In 2024, INNOVATION PORTAL INC received grants from J L BEDSOLE FOUNDATION REGIONS BANK CO-TRUSTEE, REGIONS FOUNDATION, and MOBILE AREA CHAMBER OF COMMERCE FOUNDATION INC. More information on this organization’s funders is available to registered users.
What is the largest grant INNOVATION PORTAL INC received in 2024?
The largest grant to INNOVATION PORTAL INC in 2024 exceeds $100 thousand.
What is INNOVATION PORTAL INC’s reliance on government grants?
INNOVATION PORTAL INC relied on government grants for more than 10% of their total revenue in 2024.