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Organizations Innovation Works Inc.

Innovation Works Inc.

Fiscal year ending 2023. Filed on May 15, 2024.

Two Allegheny Center 100
Pittsburgh, Pennsylvania 15212

Innovation Works Inc. (EIN: 25-1588611) has filed an IRS Form 990 between fiscal years 2016 and 2023. In its fiscal year 2023 IRS Form 990 filing, Innovation Works Inc., a 501(c)(3) charitable organization, reported compensation for 14 out of 38 total employees. Among the employees shown here, the average compensation is $270,108. The highest compensated employee at Innovation Works Inc. is Mr Richard R Lunak with fiscal year 2023 compensation of $566,046.

Revenue, expenses, and employee compensation

Revenue

$15,798,085

Expenses

$15,866,669

Employee compensation

$6,287,904
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Mr Richard R Lunak
President and CEO (Thru 9/22)
$566,046
$513,325 No related comp$52,721
Mr Ven Raju
President and CEO (AS of 10/22)
$400,950
$355,029 No related comp$45,921
Mr Jim Jen
Vice President and COO (Thru 2/23)
$337,006
$285,880 No related comp$51,126
Mr Robert Starzynski
Vice President of Business Development, Treasurer
$253,632
$216,077 No related comp$37,555
Ms Megan Shaw
Portfolio Executive (Thru 4/23)
$245,651
$223,885 No related comp$21,766
Mr Jeffery McDaniel
Portfolio Executive
$243,558
$203,468 No related comp$40,090
Ms Terri Glueck
Vice President, Communications and Commu
$236,626
$198,235 No related comp$38,391
Ms Kelley Benson
Vice President Human Resources and Inclu
$236,376
$201,004 No related comp$35,372
Mr Afshan Khan
Portfolio Executive
$227,512
$184,884 No related comp$42,628
Mr Michael Formica
Portfolio Executive (Thru 6/23)
$221,112
$184,876 No related comp$36,236
Mr James Wrubel
Portfolio Executive
$212,501
$183,224 No related comp$29,277
Ms Susan Kijowski
Secretary and Controller (Thru 7/22)
$183,405
$159,146 No related comp$24,259

Benchmark Employee Compensation

Non-Employee Board Members

Dr Steven Reis
Board Member
Mr Jimmy Williams
Board Member
Mr Joe Ferrara
Board Member
Mr Juan Garrett
Board Member (Thru 12/22)
Mr Robert A Rutenbar
Board Member
Mr Tom Jones
Board Member
Mr William Sanders
Board Member (AS of 6/23)
Ms Catherine Mott
Board Chair
Ms Donna Myers
Board Member
Ms Rebecca Doerge
Board Member

Contractors

Buchanan Ingersoll & Rooney PC
Legal
$249,265

Mission Statement

SEE SCHEDULE OINNOVATION WORKS' MISSION IS TO INCREASE THE SUCCESS RATE OF THE REGION'S TECHNOLOGY AND TECHNOLOGY ADOPTING COMPANIES THROUGH DIRECT INVESTMENT, BUSINESS ASSISTANCE, AND INFRASTRUCTURE DEVELOPMENT. UNDERLYING IW'S MISSION IS THE BELIEF THAT INNOVATION IS A KEY ENGINE OF GROWTH FOR THE SOUTHWESTERN PENNSYLVANIA REGION. ACTIVITIES UNDERTAKEN BY INNOVATION WORKS IN PURSUIT OF THIS MISSION HAVE RESULTED IN SIGNIFICANT COMMUNITY DEVELOPMENT BENEFITS, INCLUDING CREATION OF JOBS, ATTRACTION OF INVESTMENT, AND INCREASED COMPETITIVE ADVANTAGE FOR COMPANIES LOCATED IN SOUTHWESTERN PENNSYLVANIA.

Revisions to this organization profile

May 15, 2024:
2023 Innovation Works Inc. 990 filed
May 12, 2023:
2022 Innovation Works Inc. 990 filed
May 13, 2022:
2021 Innovation Works Inc. 990 filed

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