Pennsylvania · Nonprofit
INNOVATION WORKS INC
INNOVATION WORKS INC (Pennsylvania) receives grants from 11 organizations whose IRS filings report $3,570,500 to it, the largest being BNY MELLON FOUNDATION OF SOUTHWESTERN PA ($1,895,000). 6 of them have funded it in more than one year.
- Revenue FY2025
- $15M
- Funders on record
- 11
- Grants received
- $3.6M
- Net assets
- $36M
What Innovation Works Inc does
Mission
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.
As stated on its FY2025 Form 990.
Program
The companies served by iw impact southwestern pennsylvania in several ways: (1) they create jobs; (2) they help retain key regional talent; (3) they attract investment dollars and talent to the region; and (4) they create a sustainable competitive advantage for the region's companies. Innovation investment fund - the core of the innovation works model is the innovation investment fund, southwestern pennsylvania's leading source for seed-stage capital for start up technology companies. Innovation works has developed an evaluation process that is structured to help facilitate wise investment decision-making within innovation works. The process is designed to leverage the knowledge of industry contacts, staff domain experts, board members, and market experts, as well as to gather the opinions and recommendations of the follow-on investment community. Alphalab - an intensive program for launching the next generation of software, entertainment technology hardware, and internet-related companies. Alphalab provides funding, free office space, and expertise to help companies rapidly develop their technology, gain early user feedback, develop go-to-market strategies, and move toward…
$14,972,126 spentof which $485,450 as grants$1,504,561 earned by the program100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $14,972,126.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2021 to 2022, from $38M to $49M (+30%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 64% · 2018 46% · 2019 43% · 2020 64% · 2021 26% · 2022 16% · 2023 69% · 2024 70% · 2025 65%. Grants only. Government contracts and fees sit inside program revenue.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 5 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Mr Ven Raju
President & CEO
Board chair
Mr Tom Jones
Board chair
As listed on its FY2025 Form 990.
Who funds it, year by year
2017 → 2023: the base broadened from 1 funder to 3 funders, grant income rose $150k → $633k.
1 of 11 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 4% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of INNOVATION WORKS INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
INNOVATION WORKS INC leans on a few funders — its largest provides 53% of grant income and the top three 79%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
Largest funder’s share by year: 2017 100% · 2018 52% · 2019 47% · 2020 27% · 2021 60% · 2022 85% · 2023 97% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
25% of INNOVATION WORKS INC's funders are still giving 3 years after their first grant; 55% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
91% of INNOVATION WORKS INC's grant income comes from Pennsylvania funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $150k arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Government funding INNOVATION WORKS INC receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $14.6M on record.
- Department of Commerce$14.0M
- Small Business Administration$635k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like INNOVATION WORKS INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Pennsylvania
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
81% of spending goes to programs.
Governance
Public support
84%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Part of a family of 6 related entities
- Mpc Corporation · exempt
- Ben Franklin Technology Partners Corp · exempt
- Riverfront Ventures LLC · partnership
- Riverfront Ventures II LLC · partnership
- Iw Management Company LLC · corp_trust
Screen this organization
A dated, signed PDF of the compliance screen for INNOVATION WORKS INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds INNOVATION WORKS INC?
- INNOVATION WORKS INC (Pennsylvania) receives grants from 11 organizations whose IRS filings report $3,570,500 to it, the largest being BNY MELLON FOUNDATION OF SOUTHWESTERN PA ($1,895,000). 6 of them have funded it in more than one year.
- How many funders does INNOVATION WORKS INC have?
- IRS filings report 11 organizations giving $3,570,500 in grants to INNOVATION WORKS INC, 6 of which have funded it in more than one year.
- Who is the largest funder of INNOVATION WORKS INC?
- BNY MELLON FOUNDATION OF SOUTHWESTERN PA is the largest funder on record, with $1,895,000 in grants. The full list of funders is on this page.
- How can an organization like INNOVATION WORKS INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Pennsylvania. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 11 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing