THE INNOVATION FOUNDATION AT OKLAHOMA STATE UNIVERSITY INC Charity Report

Public IRS 990 nonprofit record

THE INNOVATION FOUNDATION AT OKLAHOMA STATE UNIVERSITY INC

EIN 23-7043186 · Education N.E.C. (B99)

What they do

THE PURPOSE for WHICH THIS CORPORATION is FORMED is to PROMOTE and FOSTER THE CHARITABLE, BENEVOLENT, RELIGIOUS, EDUCATIONAL, SCIENTIFIC, ECONOMIC, and CULTURAL INTERESTS of EVERY KIND and DESCRIPTION of THE OKLAHOMA STATE UNIVERSITY, A PUBLIC INSTITUTION of HIGHER EDUCATION and A PUBLIC EDUCATIONAL CORPORATION of THE STATE of OKLAHOMA. THIS CORPORATION is CREATED and SHALL BE ADMINISTERED and OPERATED to CARRY OUT THE PURPOSES ABOVE STATED AND: 1. to CREATE and OPERATE THE THE INNOVATION FOUNDATION AT OSU, INC. 2. to REQUEST, RECEIVE and ADMINISTER FUNDS FROM FEDERAL, STATE, and LOCAL GOVERNMENT SOURCES, AS WELL AS PRIVATE SOURCES. 3. to ENGAGE IN RESEARCH, EXTENSION, and ACADEMIC CONTRACTUAL ARRANGEMENTS WHICH ARE DIRECTED TOWARD THE ADVANCEMENT of THE OKLAHOMA STATE UNIVERSITY and SUBSEQUENTLY to THE STATE of OKLAHOMA. 4. to UTILIZE FUNDS RECEIVED FRO THE PURPOSES of RESEARCH, EXTENSION, and ACADEMIC PROGRAMS and RELATED ACTIVITIES and THE ENTER INTO LEGAL ARRANGEMENTS WITH THE OKLA

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $67.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders11 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

71.83%of revenue went to mission work67.2% of expenses · Program services

$106.88spent for every $100 of revenueSpending was higher than revenue this year.

35.05%of revenue went to management and office costs32.8% of expenses

$4.27in assets for every $1 spent this yearSome assets cannot be spent right away.

47.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $160,733 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $106,414 for KAYSE SHRUM (DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,336,897

Mission workProgram services$1,678,64771.83% of revenue67.2% of expenses

ManagementOffice and general costs$818,98335.05% of revenue32.8% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Total expenses$2,497,630106.88% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2023CurrentExpense mix: 67.2% mission · 32.8% management · 0.0% fundraisingTotal expenses: 106.88% of revenue

2022Expense mix: 95.9% mission · 4.1% management · 0.0% fundraisingTotal expenses: 76.82% of revenue

2021Expense mix: 97.0% mission · 3.0% management · 0.0% fundraisingTotal expenses: 92.14% of revenue

2020Expense mix: 97.6% mission · 2.4% management · 0.0% fundraisingTotal expenses: 83.32% of revenue

2019Expense mix: 32.5% mission · 67.5% management · 0.0% fundraisingTotal expenses: 87.25% of revenue

Money in and money out

Revenue$2,336,897

Expenses$2,497,630

Annual shortfall $160,733 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,678,647 · 67.2% of expenses

Management and office costs$818,983 · 32.8% of expenses

See all reported dollar amounts

Revenue$2,336,897

Expenses$2,497,630

Assets$10,654,472

Income$2,336,897

Contributions$1,113,694

Mission work (program services)$1,678,647

Management and general$818,983

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

KAYSE SHRUMDIRECTOR $106,414Base · Other $106,414

JOE WEAVERDIRECTOR $88,788Base · Other $88,788

JOHNNY STEPHENSDIRECTOR $81,008Base · Other $81,008

KENNETH SEWELLDIRECTOR $75,008Base · Other $75,008

JEANETTE MENDEZDIRECTOR $66,382Base · Other $66,382

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (11)

KAYSE SHRUMDIRECTOR

JOE WEAVERDIRECTOR

JOHNNY STEPHENSDIRECTOR

KENNETH SEWELLDIRECTOR

JEANETTE MENDEZDIRECTOR

ALEX CAPELLODIRECTOR

CARY BAETZDIRECTOR

ELIZABETH POLLARDCHIEF EXECUTIVE OFFICER

HEATHER BOWERMANDIRECTOR

JIM TWERDAHLDIRECTOR

RICK DAVISDIRECTOR

About this charity

Recognized since: January 1969
Location: 1201 S INNOVATION WAY, STILLWATER, OK 74074-1579
County: Payne
In care of: % MICHALE POGUE
Primary officer: KENNETH W SEWELL, PRESIDENT

How to reach them

Phone(405) 744-7076

Filing and classification

Latest tax year: 2023
Tax period began: July 1, 2023
Return type: 990
Tax preparer: DUNCAN ONLEY & WATKINS PC
NTEE classification: Education N.E.C. (B99)
IRS tax category: Education N.E.C.