Public Charity

INNOVATE ABQ INC

INNOVATE ABQ INC is a Public Charity headquartered in ALBUQUERQUE, NM. Financial data from the 2020 filing: $197K revenue, $403K expenses. 3 publicly reported grants to this organization, totaling roughly $137K, appear in IRS filings.

EIN: 472386705 ALBUQUERQUE, NM General Support NTEE: DEFAULT Latest filing: 2020
Total Revenue$197K
Total Expenses$403K
Grant Records3
Funding Total$137K
Filing Years2017–2020

Mission

INNOVATE ABQ INC. IS A PUBLIC/PRIVATE PARTNERSHIP UNDER THE LEADERSHIP OF THE UNIVERSITY OF NEW MEXICO FOR THE DEVELOPMENT OF AN INNOVATION DISTRICT LOCATED SYNERGISTICALLY BETWEEN THE UNIVERSITY OF NEW MEXICO AND DOWNTOWN ALBUQUERQUE, NEW MEXICO. THE PROJECT INCLUDES PLANNING FOR AND DEVELOPMENT OF A CORE SITE IN DOWNTOWN ALBUQUERQUE WITHIN A LARGER SURROUNDING RESEARCH AND HIGH-TECHNOLOGY BUSINESS DISTRICT THAT WILL SERVE AS A CATALYST FOR A NEW INNOVATION ECONOMY IN NEW MEXICO. THE VISION FOR INNOVATE ABQ INC. IS THE CREATION OF AN INTEGRATED, HIGHLY CONNECTED TECHNOLOGY COMMUNITY THAT WILL FOSTER INNOVATION, TECHNOLOGICAL ADVANCEMENT, AND ENTREPRENEURIAL ACTIVITY. THE COMMUNITY MAY INCLUDE COMPATIBLE RESEARCH AND COMMERCIAL LABS, SCIENCE AND TECHNOLOGY COMPANIES, EDUCATIONAL PROGRAMS, BUSINESS SERVICES, SUPPORT SERVICES, COMMERCIAL AND RETAIL BUSINESSES, RESIDENTIAL LIVING SPACES, AND A BUSINESS INCUBATOR.

Officers & Directors

DIRECTOR Carlos Garcia
CHAIR Carlos Perea
DIRECTOR Carrie Freeman
SECRETARY/TREASURER Chuck Wellborn
DIRECTOR Dan Lopez
DIRECTOR Garnett Stokes

Officer compensation and complete director data available with membership.

Top Grant Purposes

Labor and benefits
$119,760 2 grants
NEW INNOVATION ECONOMY
$17,193 1 grant

Financial Trends

Year Revenue Expenses Assets
2020 $197K $403K
2019 $294K $886K $7.6M
2018 $839K $849K $8.2M
2017 $1.6M $449K $8.1M

Between 2017 and 2020, reported annual revenue declined from $1.6M to $197K (-87%).

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

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