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BBB Reliability Report for

Northeast Indiana Innovation Center


A BBB Accredited Charity since 07/27/2010.

This BBB Accredited Charity meets all 20 Standards for Charity Accountability and is a Seal Holder.
BBB issues Charity Reports on all organizations, whether or not they are BBB accredited. If an organization is a BBB Accredited Charity, it is stated in this report.

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Name: Northeast Indiana Innovation Center
Phone: (260) 407-6442
Fax: (260) 407-6448
Address: 3201 Stellhorn Rd
Fort Wayne, IN 46815-4697
Yahoo Map
Website: www.niic.net
https://www.facebook.com/pages/Northeast-Indiana-Innovation-Center/129519063785895
Report Issued Date: June 10, 2011
Report Expiration Date: January 7, 2015
Principal: Mr. Karl Lapan, President & CEO
Customer Contact: Mr. Karl Lapan, President & CEO - (260) 407-6442 or
Email Address:
Entity: Non-Profit Domestic Corporation
Incorporated: December 1999, IN
File Open Date: January 2003
Type of Business: Charity - Local, Charity - Community Development & Civic Organizations
BBB Accreditation: This organization is a BBB Accredited Charity.

Stated Purpose

The mission of the Innovation center is putting business growth, innovation and entrepreneurship to work for Northeast Indiana.

If you would like to make a tax deductible contribution to this BBB Accredited Charity, please contact the organization at 260 407-6442.


Evaluation Conclusions

This organization has been evaluated according to the 20 BBB Standards for Charity Accountability. This organization meets all those Standards and is a BBB Accredited Charity.


BBB Charity Seal Participation

Charities that meet the Standards for Charity Accountability are eligible to participate in BBB Wise Giving Alliance Charity Seal program. The seal, which can be displayed on the charity's web site and in printed materials, helps inform the public that the charity meets these standards. This organization participates in this program.


Programs

Northeast Indiana Innovation Center programs include:
Center for Entrepreneurial Excellence: CEE serves as a gate to the many Innovation Center in-house resources and its large external resource network. Engagements focus on developing both the firm and the entrepreneurs. CEE leads the venture's ongoing business development discussion, with a special focus on proactive risk mitigation measures. It coaches entrepreneurs, helping them to develop their personal leadership abilities.
Incubation & Acceleration Services: NIIC's Certified Technology Park, 55 acre innovation campus, provides new ventures a turnkey package of physical facilities, amenities, and services that they could not afford on their own. Many of the services are not typically found or available in most commercial buildings.
Gateways: NIIC Gateways' structured development program helps nascent national technology leaders reach their venture's full potential. It presumes that the venture's goal is to become a national or international leader in a technology market, and moves its clients toward that goal in three stages.
Capital Ventures: NIIC Capital Ventures helps to remove the financial hindrances from a venture's path so it can effectively launch and grow its business. It is a wholly owned nonprofit subsidiary of the Innovation Center and supplies the capital need of promising clients through gap financing pre-seed and start-up stage funding, asset-based leasing and working capital loans.
Consulting and Marketing Research Studies: Innovation Center provides comprehensive consulting and marketing research studies and support in a number of crucial areas. These services are delivered to a variety of constituents.
Conferencing Services: The Innovation Center has 6 conference rooms and a lab available to the public to lease for events or meetings. All are technologically equipped and fully furnished and include many additional services.

Total Program Expenses:$1,709,638

Governance

Chief Executive Officer:Karl R. LaPan
Chair of the Board:Dr. Michael Mirro
Chair's Profession / Business Affiliation:Fort Wayne Cardiology
Board Size:25
Paid Staff Size:12 Full Time. 6 Part Time.

Fund Raising

Method(s) Used:Northeast Indiana Innovation Center raises funds through Internet appeals and grant proposals.

Fund raising costs were 22.07% of related contributions. (Related contributions, which totaled $448,504, are donations received as a direct result of fund raising activities.)


Tax Status

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.


Financial

According to Northeast Indiana Innovation Center's Audited Financial Statement for the year ended December 31, 2009:

Income
 Contributions$439,457
 Government fee for services$175,000
 Incremental Tax Financing Funds$318,133
 Program Service fees$698,766
 Investment Income$6,791
 Increase In Investments$21,148
 Other Income$9,047
 Total Income:$1,668,342
 
Expenses  % of total
Expenses
% of total
Income
 Programs:$1,709,638 81.20%102.48%
 Fund Raising:$98,985 4.70%5.93%
 Administrative:$296,733 14.09%17.79%
 Total Expenses:$2,105,356
 
Excess of Income over Expenses$-437,014
Ending Net Assets:$14,066,791

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Report as of December 17, 2014 03:59
Copyright© 2014 Better Business Bureau


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