Public Charity

FIRST STATE INNOVATION INC

FIRST STATE INNOVATION INC is a nonprofit organization categorized as Public Charity based in WILMINGTON, DE. Its most recent IRS filing (2025) reports expenses of $1K, total assets of $400K.

EIN: 205095603 WILMINGTON, DE Economic Development NTEE: S30 Latest filing: 2025
Total Expenses$1K
Total Assets$400K
Grant Records0
Filing Years2021–2025

Mission

TO HELP GROW WEALTH AND THE WORKFORCE OF DELAWARE'S INNOVATION ECONOMY BY GROWING, ATTRACTING, RETAINING, AND CONNECTING HIGH GROWTH TECHNOLOGY-BASED BUSINESSES AND SUPPORTING INFRASTRUCTURE IN THE STATE, AND TO HELP CREATE AN ENVIRONMENT THAT MAKES IT EASY FOR EMERGING COMPANIES TO LOCATE THE RESOURCES THAT WILL ENABLE THEM TO INCUBATE, GROW OR RELOCATE TO THE STATE AND THE SURROUNDING REGION.

Where $100 goes at First State Innovation Inc

How First State Innovation Inc divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.

$94 Programs the work itself
$6 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $94 for programs

$94
Support of delaware's entrepreneurial activities
All program spending
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Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

BOARD MEMBER Andy Lubin
BOARD MEMBER David Gates
CHAIRMAN & PRESIDENT Ernest J Dianastasis
BOARD MEMBER Frank Pennella
BOARD MEMBER Jeffrey E Fetterman
BOARD MEMBER J Michael Bowman

Officer compensation and complete director data available with membership.

Financial Trends

Year Revenue Expenses Assets
2025 — $1K $400K
2024 — $2K $401K
2023 — $40 $404K
2022 $200 $2K $404K
2021 — $13K $406K

Interactive year-over-year charts and full filing details available with membership.

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