Innovia Foundation FY2024 filing

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Innovia is a community foundation formed for the benefit of the communities within their region of operation. Innovia seeks to partner with people and other organizations who want to make the world better by addressing our region's problems, helping those in need and identifying and responding to our region's greatest opportunities.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $15.9M a year · 43% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
17 mo
of spending, in cash
Plus $207.9M in investments, Pt X · Ln 11–13
Looks good: 16.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $350
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29.2M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$35.1M
-22% vs prior year
Spent
$19.0M
To programs
89%
Net assets
$227.1M
By yearFY2020–FY2025
Revenue
$35.1M
FY2024▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$27.3M
FY2021$52.1M
FY2022$30.1M
FY2023$45.0M
FY2024$35.1M
FY2025$32.0M
Expenses
$19.0M
FY2024▲ +38%
Tap a bar for its year
Expenses by fiscal year
FY2020$13.7M
FY2021$43.1M
FY2022$14.2M
FY2023$13.7M
FY2024$19.0M
FY2025$22.6M
Net assets
$227.1M
FY2024▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$124.5M
FY2021$162.1M
FY2022$145.1M
FY2023$190.6M
FY2024$227.1M
FY2025$254.6M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $17.0M Management & general 9% · $1.7M Fundraising 2% · $321K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Executive Officer
$301,304Pt VII · Sec A
Chief Financial & Operating Officer
$172,482Pt VII · Sec A
Chief Strategy Officer
$163,838Pt VII · Sec A
Executive Director of Launchnw
$140,548Pt VII · Sec A
Chief Community Investment Officer
$133,204Pt VII · Sec A
$114,224Pt VII · Sec A
Director of Launchnw (until 11/23)
$110,938Pt VII · Sec A
$8,530Pt VII · Sec A

Shelly O'Quinn’s $323K as Chief Executive Officer is at the 72nd percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Shelly O'Quinn$323,384$301,304$265,096$240,578$225,689$200,200
Lauren Autrey$191,919$172,482$162,228$127,867$125,846$105,104
Aaron McMurray$161,700$163,838$156,955$131,335$134,033$126,267
Molly Sanchez$161,540$133,204————
Ben Small$144,066$140,548————
Chris Stilessr Director of——$126,881———
Matt Bumpus Director of$125,463—————
Yvonne Smith$117,625—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Ignites community generosity and funds scholarships, mentoring, and economic initiatives to help students in the Inland Northwest transition from birth to successful careers.

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3 programs · $16.6M · in their own filed words · FY2023
01

Donor-Directed Grantmaking

Innovia Foundation's mission is to ignite generosity that transforms lives and communities. With over 500 individual, family, and corporate funds, this area of investment reflects the grantmaking directed by donors to support a broad range of community interests primarily in our region and Washington state and extending nationally and…

$10.3Mprogram expense
02

Foundation-Directed Grantmaking

Innovia Foundation manages other funds established by generous donors to address the unique opportunities and challenges in our region. Over 140 individual and family funds are used to support the Foundation's five impact areas of Health & Wellbeing, Economic Opportunity, Education and Youth Development, Arts & Culture and Quality of…

$3.8Mprogram expense
03

Launchnw

With the mission of galvanizing entire communities to ensure that every child finds belonging and travels their best journey from birth to career attainment, Innovia's economic and community vitality initiative, LaunchNW, significantly expanded its reach in 2024.

$2.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$350
Grants paid · 3,910 grants · $92.0M · 2019–2024
Unitemized GrantFY2024$700,778
Whitworth UniversityWA · FY2024$214,545
Northeast Youth CenterWA · FY2024$209,802
Washington State UniversityWA · FY2024$207,900
The Salvation ArmyHI · FY2024$201,904
Scholarship America INCMN · FY2024$187,471
Eastern Washington UniversityFY2024$176,529
Mercy Ships InternationalTX · FY2024$175,000
Inland Northwest Land TrustWA · FY2024$168,141
Manzanita HouseWA · FY2024$147,483
Spokane Humane SocietyWA · FY2024$134,905
If You Could Save Just OneWA · FY2024$117,587
Spokane Valley HubWA · FY2024$109,500
Spokane Foursquare ChurchWA · FY2024$101,000
See all 3,910 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$35.1M
Ln 12
Gifts and grantsLn 1h$32.6M
Investment incomeLn 3$5.5M
Fees for servicesLn 2g$617K
Money outPt IX
$19.0M
Ln 25
Programscol B$17.0M
Managementcol C$1.7M
Fundraisingcol D$321K
Owns and owesPt X
$227.1M
net assets · Ln 32
Cash and savingsLn 1–2$26.8M
Total assetsLn 16$256.3M
LiabilitiesLn 26$29.2M
PeoplePt VI, VII
19
listed · VII A
PaidVII A8
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$32.6M
Government grantsLn 1e$1.7M
Noncash giftsLn 1g$14.1M
Fees for servicesLn 2g$617K
Investment incomeLn 3$5.5M
Gains on assetsLn 7−$1.8M
Total revenueLn 12$35.1M
Assets in detailPt X, end of year
CashLn 1$287K
SavingsLn 2$26.6M
Cash and savings togetherLn 1–2$26.8M
InvestmentsLn 11–13$207.9M
Land, buildings, equipmentLn 10c$5.4M
Other assetsLn 15$14.5M
Total assetsLn 16$256.3M
LiabilitiesLn 26$29.2M
Net assetsLn 32$227.1M
OperationsPt I, VI
EmployeesI 536
VolunteersI 6375
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$23.6M$26.8M
InvestmentsLn 11–13$178.1M$207.9M
Land, buildings, equipmentLn 10c$782K$5.4M
Total assetsLn 16$216.7M$256.3M
LiabilitiesLn 26$26.1M$29.2M
Net assetsLn 32$190.6M$227.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11.9M$11.9M
Grants to domestic individualsLn 2$316K$316K
Pay of current officers, directors and key staffLn 5$932K$649K$155K$128K
Other salaries and wagesLn 7$1.4M$1.1M$223K$91K
Pension plan contributionsLn 8$105K$82K$16K$7K
Other employee benefitsLn 9$149K$113K$23K$13K
Payroll taxesLn 10$182K$136K$29K$17K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$54K$54K
Investment management feesLn 11f$913K$913K
Other fees for servicesLn 11g$23K$23K
Advertising and promotionLn 12$237K$177K$38K$22K
Office expensesLn 13$34K$25K$5K$3K
OccupancyLn 16$302K$184K$99K$19K
TravelLn 17$58K$43K$9K$5K
Conferences, conventions and meetingsLn 19$140K$105K$22K$13K
InterestLn 20$123K$123K
Depreciation, depletion and amortizationLn 22$64K$64K
InsuranceLn 23$264K$248K$16K
Other expenses (24a–d)Ln 24$2.9M$2.9M$8K$4K
All other expensesLn 24e−$1.1M−$1.1M$6K
Total functional expensesLn 25$19.0M$17.0M$1.7M$321K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $32.0M$22.6M$9.4M$254.6M 990 PDF
FY2024 Viewing $35.1M$19.0M$16.1M$227.1M 990 PDF
FY2023 $45.0M$13.7M$31.3M$190.6M 990 PDF
FY2022 $30.1M$14.2M$15.9M$145.1M 990 PDF
FY2021 $52.1M$43.1M$9.0M$162.1M 990 PDF
FY2020 $27.3M$13.7M$13.6M$124.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $35,126,446 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $43,256,060$32,575,572
I-9 Program service revenuePrior year $239,009$616,600
I-10 Investment incomePrior year $4,912,963$5,519,152
I-11 Other revenuePrior year −$3,405,703−$3,584,878
I-12 Total revenuePrior year $45,002,329$35,126,446
I-13 Grants and similar amounts paidPrior year $9,063,001$12,183,346
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,499,020$2,790,100
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,171,700$4,045,150
I-18 Total expensesPrior year $13,733,721$19,018,596
I-19 Revenue less expensesPrior year $31,268,608$16,107,850
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $35,126,446 across 10 lines filed
VIII-1d Related organizations$530,744
VIII-1e Government grants$1,744,728
VIII-1f All other contributions, gifts and grants$30,300,100
VIII-1g Noncash contributions (included above)$14,092,546
VIII-1h Total contributions, gifts and grants$32,575,572
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $616,600$616,600
VIII-3 Investment incomeExcluded from tax $7,273,965$7,273,965
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,754,813−$1,754,813
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$3,584,878−$3,584,878
VIII-12 Total revenueRelated to mission $616,600 · Unrelated business $0 · Excluded from tax $1,934,274$35,126,446
Part IX · Statement of functional expenses $19,018,596 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $11,867,285$11,867,285
IX-2 Grants to domestic individualsPrograms $316,061$316,061
IX-5 Pay of current officers, directors and key staffPrograms $648,550 · Management $155,105 · Fundraising $128,150$931,805
IX-7 Other salaries and wagesPrograms $1,108,346 · Management $223,040 · Fundraising $90,871$1,422,257
IX-8 Pension plan contributionsPrograms $81,686 · Management $16,294 · Fundraising $6,706$104,686
IX-9 Other employee benefitsPrograms $113,431 · Management $23,392 · Fundraising $12,612$149,435
IX-10 Payroll taxesPrograms $136,149 · Management $29,144 · Fundraising $16,624$181,917
IX-11b Legal feesManagement $19,462$19,462
IX-11c Accounting feesManagement $53,830$53,830
IX-11f Investment management feesManagement $912,955$912,955
IX-11g Other fees for servicesManagement $23,086$23,086
IX-12 Advertising and promotionPrograms $177,076 · Management $37,903 · Fundraising $21,621$236,600
IX-13 Office expensesPrograms $25,315 · Management $5,418 · Fundraising $3,091$33,824
IX-16 OccupancyPrograms $183,638 · Management $99,176 · Fundraising $19,126$301,940
IX-17 TravelPrograms $43,412 · Management $9,292 · Fundraising $5,300$58,004
IX-19 Conferences, conventions and meetingsPrograms $104,722 · Management $22,415 · Fundraising $12,786$139,923
IX-20 InterestPrograms $123,062$123,062
IX-22 Depreciation, depletion and amortizationManagement $64,263$64,263
IX-23 InsurancePrograms $247,957 · Management $16,124$264,081
IX-24 Other expenses (24a–d)Programs $2,872,578 · Management $7,825 · Fundraising $4,463$2,884,866
IX-24e All other expensesPrograms −$1,077,111 · Management $6,365−$1,070,746
IX-25 Total functional expensesPrograms $16,972,157 · Management $1,725,089 · Fundraising $321,350$19,018,596
Part X · Balance sheet $256,295,102 assets, 18 lines filed
Asset lines not itemized here account for $352,404; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $60,529$286,597
X-2 Savings and temporary cash investmentsStart of year $23,552,898$26,560,080
X-3 Pledges and grants receivableStart of year $11,450$10,000
X-4 Accounts receivableStart of year $926,537$1,190,091
X-9 Prepaid expenses and deferred chargesStart of year $26,200$20,440
X-10c Land, buildings and equipment, netStart of year $781,908$5,448,666
X-11 Publicly traded securitiesStart of year $147,323,709$177,392,313
X-12 Other securitiesStart of year $30,795,779$30,505,576
X-15 Other assetsStart of year $12,916,652$14,528,935
X-16 Total assetsStart of year $216,731,958$256,295,102
X-17 Accounts payable and accrued expensesStart of year $638,874$833,370
X-18 Grants payableStart of year $362,620$336,443
X-25 Other liabilitiesStart of year $3,846,697$4,266,756
X-26 Total liabilitiesStart of year $26,089,194$29,185,337
X-27 Net assets without donor restrictionsStart of year $184,580,288$220,051,050
X-28 Net assets with donor restrictionsStart of year $6,062,476$7,058,715
X-32 Total net assets or fund balancesStart of year $190,642,764$227,109,765
X-33 Total liabilities and net assetsStart of year $216,731,958$256,295,102
Part XI · Reconciliation of net assets $227,109,765 net assets at year end
XI-1 Total revenue$35,126,446
XI-2 Total expenses$19,018,596
XI-3 Revenue less expenses$16,107,850
XI-4 Net assets at start of year$190,642,764
XI-5 Net unrealized gains (losses) on investments$19,337,747
XI-9 Other changes in net assets$1,021,404
XI-10 Net assets at end of year$227,109,765

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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