Public Charity

INNOVATION VALLEY INC

INNOVATION VALLEY INC, of KNOXVILLE, TN, is a Public Charity tracked in Imperigo's IRS 990 database. The 2023 filing shows $4K in revenue, $4K in expenses, $885K in total assets. 7 publicly reported grants to this organization, totaling roughly $225K, appear in IRS filings.

EIN: 262087582 KNOXVILLE, TN Chambers of Commerce & Business Leagues NTEE: S41 Latest filing: 2023
Total Revenue$4K
Total Expenses$4K
Total Assets$885K
Grant Records7
Funding Total$225K
Filing Years2018–2023

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE EDUCATIONAL AND SCIENTIFIC PURPOSES, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTIONS 501(C)(3) AND 501(C)(6) OF THE INTERNAL REVENUE CODE, OR CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE. THE PURPOSE WILL INCLUDE WITHOUT LIMITATION SUPPORT OF PUBLIC EDUCATION, WORKFORCE DEVELOPMENT AND JOB TRAINING AND SUPPORT OF SCIENTIFIC AND TECHNOLOGICAL ADVANCEMENTS IN THE CENTRAL EAST TENNESSEE AREA, INCLUDING WITHOUT LIMITATION ANDERSON, BLOUNT, KNOX, LOUDON, ROANE AND MONROE COUNTIES, PRIMARILY BY PROVIDING FUNDS AND SUPPORT TO ORGANIZATIONS SUCH AS THE BLOUNT PARTNERSHIP, THE KNOXVILLE AREA CHAMBER PARTNERSHIP, ANDERSON COUNTY ECONOMIC DEVELOPMENT AGENCY, THE ROANE ALLIANCE, TELLICO RESERVOIR DEVELOPMENT AGENCY AND LOUDON COUNTY ECONOMIC DEVELOPMENT AGENCY.

Sample Grants Received

2019
General support
$60,000
2019
OPERATIONAL SUPPORT
$40,000
2019
ECONOMIC DEVELOPMENT TO BENEFIT DOWNTOWN KNOXVILLE
$15,000
2018
ECONOMIC DEVELOPMENT TO BENEFIT DOWNTOWN KNOXVILLE
$15,000
2017
Support for regional economic development
$60,000

Showing up to 5 of 7 total records — full history available with membership.

Officers & Directors

Director John Tolsma
Secretary Kim Bumpus
Director Leon Downey
Director Mark Paganelli
President Mitch Steenrod

Officer compensation and complete director data available with membership.

Top Grant Purposes

General support
$60,000 1 grant
Support for regional economic development
$60,000 1 grant
ECONOMIC DEVELOPMENT TO BENEFIT DOWNTOWN KNOXVILLE
$45,000 3 grants
OPERATIONAL SUPPORT
$40,000 1 grant
GENERAL SUPPORT
$20,000 1 grant

Financial Trends

Year Revenue Expenses Assets
2023 $4K $4K $885K
2021 $51K $11K $843K
2020 $484K $426K $945K
2019 $1.3M $1.4M $1.3M
2018 $1.3M $1.5M $1.3M

Between 2018 and 2023, reported annual revenue declined from $1.3M to $4K (-100%), with total assets most recently reported at $885K.

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

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