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INNOVATION 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.
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2022
Total Revenue
▼$15.8M
Program Spending
81%
of total expenses go to program services
Total Contributions
$12.5M
Total Expenses
▼$15.9M
Total Assets
$49.2M
Total Liabilities
▼$7.7M
Net Assets
$41.5M
Officer Compensation
→$2.2M
Other Salaries
$3M
Investment Income
$1.2M
Fundraising
▼N/A
Tax Year 2022 · Source: IRS Form 990, Schedule I (Grants and Other Assistance)
Total grants awarded: $384.2K
| Recipient | Location | Amount | Type | Purpose |
|---|---|---|---|---|
PRECISION NEUROSCOPICS85-4321102 | PITTSBURGH, PA | $150K | Cash | AWARD, UPPRIZE ($150,000) |
MEERKAT VILLAGE LLC87-2344686 | PITTSBURGH, PA | $100K | Cash | AWARD, UPPRIZE ($100,000) |
MAKE IT HOME SAFE LLC85-1683627 | PITTSBURGH, PA | $50K | Cash | AWARD, UPPRIZE ($50,000) |
EXPRESSIVE PAINIMATION CO37-2028832 | PITTSBURGH, PA | $25K | Cash | EMERGING TECHNOLOGY ASSISTANCE PROGRAM ($25,000) |
GLASSAUTOMATIC INC DBA ROLF GLASS22-2387913 | MT PLEASANT, PA | $25K | Cash | EMERGING TECHNOLOGY ASSISTANCE PROGRAM ($25,000) |
KENSON PLASTICS INC25-1416722 | BEAVER FALLS, PA | $22.5K | Cash | INNOVATION ADOPTION PROGRAM ($20,000) INTERN PROGRAM ($2,500) |
JE WEINEL DBA ROCK-N-RESCUE25-1425966 | BUTLER, PA | $6,000 | Cash | INNOVATION ADOPTION PROGRAM ($6,000) |
ENCOTECH INC25-1504102 | EIGHTY FOUR, PA | $5,728 | Cash | INNOVATION ADOPTION PROGRAM ($5,728) |
| Total | $384.2K | |||
PITTSBURGH, PA
$150K
PITTSBURGH, PA
$100K
PITTSBURGH, PA
$50K
PITTSBURGH, PA
$25K
MT PLEASANT, PA
$25K
BEAVER FALLS, PA
$22.5K
BUTLER, PA
$6,000
EIGHTY FOUR, PA
$5,728
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$17.6M
Awards Found
8
Department of Commerce
$12M
THIS EDA INVESTMENT SUPPORTS THE SOUTHWESTERN PENNSYLVANIA (SWPA) NEW ECONOMY COLLABORATIVE, A COALITION OF THE REGION'S LEADING UNIVERSITY, PHILANTHROPIC, AND PRIVATE SECTOR LEADERS, WITH STRENGTHENING THE ROBOTICS AND AUTONOMY CLUSTER IN SOUTHWESTERN PENNSYLVANIA BY ENSURING THAT ITS ECONOMIC BENEFITS EQUITABLY REACH RURAL AND COAL-IMPACTED COMMUNITIES IN THE 11-COUNTY REGION. THE FIVE PROJECTS FUNDED AS PART OF THIS AWARD INCLUDE SUPPORT FOR THE EXPANDED PATHWAYS TO NEW ECONOMY CAREERS TO GROW THE REGION'S EXISTING ROBOTICS AND AI-RELATED WORKFORCE TRAINING PORTFOLIO AND A SME ROBOTICS ADOPTION PROJECT TO SUPPORT TECHNOLOGY ADOPTION BY SMALL- AND MEDIUM-SIZED ENTERPRISES. ONCE IMPLEMENTED, THE INVESTMENT WILL HELP DEVELOP AND STRENGTHEN REGIONAL INDUSTRY CLUSTERS - ALL WHILE EMBRACING ECONOMIC EQUITY, CREATING GOOD-PAYING JOBS, AND ENHANCING U.S. COMPETITIVENESS GLOBALLY.
Department of Commerce
$2M
THIS EDA INVESTMENT FUNDS THE SCALING NETWORKS IN SOUTHWESTERN PENNSYLVANIA PROJECT, TO HELP DEEPEN, STRENGTHEN AND CROSS-POLLINATE NETWORKS OF MENTORS, CORPORATE PARTNERS, INVESTORS, AND SUPPLY CHAIN PARTNERS FOR MORE SCALABLE DELIVERY OF ENTREPRENEURIAL SERVICES TO STARTUPS, WHILE ALSO ADDING SPECIFIC EXPERTISE IN-HOUSE TO ADDRESS THE ABOVE-MENTIONED CHALLENGES. THE PROJECT WORK INCLUDES MAKING NETWORKS OF MENTORS, INVESTORS, CORPORATE PARTNERS, MANUFACTURING SUPPLIERS, AND TECHNICAL SUPPORT PERSONNEL FROM THE RESPECTIVE NETWORKS OF IW AND CMU COLLECTIVELY ACCESSIBLE TO COMPANIES IN THE REGIONAL ECOSYSTEM; EXPANDING THE NETWORKS AND ENTREPRENEURIAL SUPPORT PROGRAMS TO ADD DIVERSITY IN SKILLS AND BACKGROUNDS, WITH GREATER SECTOR-SPECIFICITY, DIGITAL COMMUNITY SUPPORT, AND A PLATFORM APPROACH TO BRING MENTOR NETWORKS TOGETHER; BROADENING ENTREPRENEURIAL TRAINING PROGRAMMING, SPECIFICALLY SUPPORTING MORE BUSINESSES LED BY DIVERSE FOUNDERS (WOMEN, PEOPLE OF COLOR, AND ENTREPRENEURS FROM RURAL COMMUNITIES), WHILE ADDING WORKSHOPS ON KEY AREAS OF COMMERCIALIZATION; AND CREATING STRONGER ON-RAMPS FOR STUDENTS FROM DIVERSE BACKGROUNDS AND OTHER INDIVIDUALS INTERESTED IN ENTERING THE ENTREPRENEURIAL WORKFORCE, WITH STEM-RELATED INTERNSHIPS, ENTREPRENEURIAL EDUCATION SESSIONS, AND HUMAN RESOURCES SUPPORT THAT HELPS STARTUPS CREATE A DIVERSE STAFF AND INCLUSIVE WORK ENVIRONMENT. ONCE IMPLEMENTED, THESE ACTIVITIES WILL WORK TO ADDRESS SIGNIFICANTLY INCREASED STARTUP DEMAND, A NEED OF STARTUPS FOR MORE SPECIALIZED SUPPORT, AND THE LACK OF DIVERSITY IN THE TECHNOLOGY ECOSYSTEM.
Small Business Administration
$635.4K
FY 23 CONGRESSIONAL COMMUNITY PROJECT INNOVATION WORKS
Department of Commerce
$500K
INITIATIVE THAT CONNECTS RURAL MANUFACTURERS WITH HARDWARE STARTUP COMPANIES IN SOUTHWESTERN PENNSYLVANIA.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
6
Clean Audits
6
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $4.2M | Yes | 2025-12-19 |
| 2024 | Clean | Unmodified (Clean) | $3M | No | 2025-01-06 |
| 2023 | Clean | Unmodified (Clean) | $857.7K | No | 2024-01-09 |
| 2018 | Clean | Unmodified (Clean) | $780.6K | Yes | 2018-12-26 |
| 2017 | Clean | Unmodified (Clean) | $1.3M | No | 2018-01-11 |
| 2016 | Clean | Unmodified (Clean) | $1.2M | No | 2017-01-05 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$857.7K
Financial Report
Unmodified (Clean)
Federal Expenditure
$780.6K
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.2M
Tax Year 2022 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $15.8M | $12.5M | $15.9M | $49.2M | $41.5M |
| 2022IRS e-File | $15.8M | $12.5M | $15.9M | $49.2M | $41.5M |
| 2021 | $14.7M | $4.7M | $10.2M | $37.7M | $34.5M |
| 2020 | $8M | $5.8M | $10.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2022)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2022)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Mr Richard R Lunak | President & CEO (thru 9/22) | 40 | $513.3K | $0 | $52.7K | $566K |
| Mr Ven Raju | President & CEO (as Of 10/22) | 40 | $355K | $0 | $45.9K | $400.9K |
| Mr Jim Jen | VP & COO (thru 2/23) | 40 | $285.9K | $0 | $51.1K | $337K |
| Mr Robert Starzynski | VP Of Business Development, Treasurer | 40 | $216.1K | $0 | $37.6K | $253.6K |
| Ms Terri Glueck | Vp, Communications & Commu | 40 | $198.2K | $0 | $38.4K | $236.6K |
| Ms Kelley Benson | VP Human Resources & Inclu | 40 | $201K | $0 | $35.4K | $236.4K |
| Ms Susan Kijowski | Secretary & Controller (thru 7/22) | 40 | $159.1K | $0 | $24.3K | $183.4K |
| Ms Kelli Mcmurray | Secretary & Controller (as Of 7/22) | 40 | $130.5K | $0 | $16.5K | $147K |
| Mr Kirk Botula | VP & Csoo (as Of 3/23) | 40 | $0 | $0 | $0 | $0 |
Mr Richard R Lunak
President & CEO (thru 9/22)
$566K
Hrs/Wk
40
Compensation
$513.3K
Related Orgs
$0
Other
$52.7K
Mr Ven Raju
President & CEO (as Of 10/22)
$400.9K
Hrs/Wk
40
Compensation
$355K
Related Orgs
$0
Other
$45.9K
Mr Jim Jen
VP & COO (thru 2/23)
$337K
Hrs/Wk
40
Compensation
$285.9K
Related Orgs
$0
Other
$51.1K
Mr Robert Starzynski
VP Of Business Development, Treasurer
$253.6K
Hrs/Wk
40
Compensation
$216.1K
Related Orgs
$0
Other
$37.6K
Ms Terri Glueck
Vp, Communications & Commu
$236.6K
Hrs/Wk
40
Compensation
$198.2K
Related Orgs
$0
Other
$38.4K
Ms Kelley Benson
VP Human Resources & Inclu
$236.4K
Hrs/Wk
40
Compensation
$201K
Related Orgs
$0
Other
$35.4K
Ms Susan Kijowski
Secretary & Controller (thru 7/22)
$183.4K
Hrs/Wk
40
Compensation
$159.1K
Related Orgs
$0
Other
$24.3K
Ms Kelli Mcmurray
Secretary & Controller (as Of 7/22)
$147K
Hrs/Wk
40
Compensation
$130.5K
Related Orgs
$0
Other
$16.5K
Mr Kirk Botula
VP & Csoo (as Of 3/23)
$0
Hrs/Wk
40
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Ms Megan Shaw | Portfolio Executive (thru 4/23) | 40 | $223.9K | $0 | $21.8K | $245.7K |
| Mr Jeffery Mcdaniel | Portfolio Executive | 40 | $203.5K | $0 | $40.1K | $243.6K |
| Mr Afshan Khan | Portfolio Executive | 40 | $184.9K | $0 |
Ms Megan Shaw
Portfolio Executive (thru 4/23)
$245.7K
Hrs/Wk
40
Compensation
$223.9K
Related Orgs
$0
Other
$21.8K
Mr Jeffery Mcdaniel
Portfolio Executive
$243.6K
Hrs/Wk
40
Compensation
$203.5K
Related Orgs
$0
Other
$40.1K
Mr Afshan Khan
Portfolio Executive
$227.5K
Hrs/Wk
40
Compensation
$184.9K
Related Orgs
$0
Other
$42.6K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Dr Steven Reis | Board Member | 0.8 | $0 | $0 | $0 | $0 |
| Mr Jimmy Williams | Board Member | 0.8 | $0 | $0 | $0 | $0 |
| Mr Joe Ferrara | Board Member | 0.8 | $0 | $0 | $0 | $0 |
| Mr Juan Garrett | Board Member (thru 12/22) | 0.8 | $0 | $0 | $0 | $0 |
| Mr Robert A Rutenbar | Board Member | 0.8 | $0 | $0 | $0 | $0 |
| Mr Tom Jones | Board Member |
Dr Steven Reis
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Mr Jimmy Williams
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Mr Joe Ferrara
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
| $31.6M |
| $27.1M |
| 2019 | $9.2M | $5.3M | $10.2M | $34.5M | $29.7M |
| 2018 | $17.4M | $9.2M | $12.5M | $35.7M | $28.6M |
| 2017 | $14.1M | $10.7M | $10.8M | $29.3M | $20.9M |
| 2016 | $12.9M | $10.7M | $9.7M | $26.7M | $16.9M |
| 2015 | $10.5M | $7.5M | $9.5M | $22.9M | $15.4M |
| 2014 | $9.1M | $7.4M | $10.3M | $21.8M | $15M |
| 2013 | $14.6M | $10.7M | $10.6M | $23.1M | $15.9M |
| 2012 | $13.5M | $11.1M | $9.2M | $20.9M | $12.9M |
| 2011 | $17.5M | $9.2M | $8.9M | $17M | $11.9M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $42.6K |
| $227.5K |
| Mr Michael Formica | Portfolio Executive (thru 6/23) | 40 | $184.9K | $0 | $36.2K | $221.1K |
| Mr James Wrubel | Portfolio Executive | 40 | $183.2K | $0 | $29.3K | $212.5K |
Mr Michael Formica
Portfolio Executive (thru 6/23)
$221.1K
Hrs/Wk
40
Compensation
$184.9K
Related Orgs
$0
Other
$36.2K
Mr James Wrubel
Portfolio Executive
$212.5K
Hrs/Wk
40
Compensation
$183.2K
Related Orgs
$0
Other
$29.3K
| 0.8 |
| $0 |
| $0 |
| $0 |
| $0 |
| Mr William Sanders | Board Member (as Of 6/23) | 0.8 | $0 | $0 | $0 | $0 |
| Ms Catherine Mott | Board Chair | 2.5 | $0 | $0 | $0 | $0 |
| Ms Donna Myers | Board Member | 0.8 | $0 | $0 | $0 | $0 |
| Ms Rebecca Doerge | Board Member | 0.8 | $0 | $0 | $0 | $0 |
Mr Juan Garrett
Board Member (thru 12/22)
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Mr Robert A Rutenbar
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Mr Tom Jones
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Mr William Sanders
Board Member (as Of 6/23)
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Ms Catherine Mott
Board Chair
$0
Hrs/Wk
2.5
Compensation
$0
Related Orgs
$0
Other
$0
Ms Donna Myers
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0
Ms Rebecca Doerge
Board Member
$0
Hrs/Wk
0.8
Compensation
$0
Related Orgs
$0
Other
$0