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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Education NCInnovation Inc

NCInnovation Inc

Fiscal year ending 2024. Filed on September 9, 2025.

PO Box 14288
Research Triangle Park, North Carolina 27709

NCInnovation Inc (EIN: 84-4902334) has filed an IRS Form 990 since fiscal year 2020. In its fiscal year 2024 IRS Form 990 filing, NCInnovation Inc, a 501(c)(3) charitable organization, reported compensation for 5 out of 10 total employees. Among the employees shown here, the average compensation is $454,723. The highest compensated employee at NCInnovation Inc is J Bennet Waters with fiscal year 2024 compensation of $670,460. NCInnovation Inc changed its name from The Innovation State Inc. in 2022.

Revenue, expenses, and employee compensation

Revenue

$259,079,795

Expenses

$8,161,864

Employee compensation

$2,574,219
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

J Bennet Waters
President and Chief Executive Officer
$670,460
$596,950 No related comp$73,510
Michelle Bolas
Executive Vice President and Chief Information Officer
$394,052
$337,500 No related comp$56,552
Jeff Sural Thru 93023
Senior Vice President and Chief Strategy Officer
$299,658
$255,170 No related comp$44,488
Josh Howard Began 03124
Senior Vice President and Chief RISK Officer
$0
Linda Hall Began 041524
Executive Vice President and Chief Financial Officer
$0

Benchmark Employee Compensation

Non-Employee Board Members

Art Pope Began 11823
Board Member
Ben Teaugue Began 11823
Board Member
Beth Friedrich Began 11823
Board Member
Blannie Miller Began 11823
Secretary
J Cantey Alexander Began 11823
Board Member
Jeff Turner Began 11823
Board Member
Kelly Fuller
Board Member
Kelly King
Chair
Kirk Bradley
Vice Chair
Stan Kelly
Board Member
Todd Kasper Began 11823
Board Member
Ven Poole
Board Member

Contractors

Rti International
Contract Research
$344,110
Smith Anderson
Legal
$194,944
Apco Worldwide
Lobbying Expenses
$192,684
Mcguire Woods LLP
Lobbying Expenses
$111,265
James a Harrell III Associates Pl
Lobbying Expenses
$110,254

Mission Statement

THE ORGANIZATION IS A PUBLIC-PRIVATE PARTNERSHIP TO ACCELERATE AND SCALE COMMERCIALIZED INNOVATION FROM NC'S UNIVERSITIES, CREATE JOBS, AND IMPROVE ECONOMIC OPPORTUNITIES IN ALL 100 COUNTIES OF NORTH CAROLINA.

Revisions to this organization profile

September 9, 2025:
Amended (originally filed May 15, 2024)2023 NCInnovation Inc 990 filed
September 9, 2025:
2024 NCInnovation Inc 990 filed
November 3, 2022:
2022 NCInnovation Inc 990 filed

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