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Filing year 2023

INNOVATION WORKS INC

Pittsburgh, Pennsylvania·EIN 25-1588611·501(c)(3)
Total revenue
$13.2M
Total assets
$45.8M
Total expenses
$16.6M
Reported officers
23
Mission

SEE SCHEDULE OINNOVATION 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.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 13 reported individuals · Filing year 2023

Percentile bands compare each position's total pay with the same role at nonprofits nationwide, across all sectors.

President & CEO
Above 90th percentile
$576k
$643k
Base
$396k
Bonus
$128k
Other
Benefits
$12k
Former VP & COO
Former Officer/director/trustee
75th to 90th percentile
$344k
$384k
Base
$259k
Bonus
$62k
Other
$110
Benefits
$15k
VP & Csoo
Vice President
Above 90th percentile
$299k
$334k
Base
$225k
Bonus
$29k
Other
Benefits
$18k
VP Business Dev. & Treasurer
Vice President
Above 90th percentile
$272k
$304k
Base
$181k
Bonus
$50k
Other
$606
Benefits
$19k
VP HR & Inclusion
Vice President
Above 90th percentile
$257k
$287k
Base
$170k
Bonus
$47k
Other
$572
Benefits
$19k
Portfolio Executive
Highest Compensated Employee
75th to 90th percentile
$252k
$282k
Base
$172k
Bonus
$35k
Other
Benefits
$23k
Former President & CEO
Former Officer/director/trustee
75th to 90th percentile
$246k
$275k
Base
$167k
Bonus
$52k
Other
Benefits
$25k
VP of Communication & Community Dev.
Vice President
Above 90th percentile
$244k
$272k
Base
$164k
Bonus
$42k
Other
$551
Benefits
$18k
Portfolio Executive
Highest Compensated Employee
75th to 90th percentile
$237k
$265k
Base
$158k
Bonus
$32k
Other
$536
Benefits
$27k
Sr. Legal Counsel
Highest Compensated Employee
Median to 75th percentile
$208k
$232k
Base
$158k
Bonus
$31k
Other
$501
Benefits
$332
Director of Accelerator Programs
Highest Compensated Employee
Median to 75th percentile
$187k
$208k
Base
$144k
Bonus
$26k
Other
Benefits
$329
Secretary & Controller
Controller
75th to 90th percentile
$177k
$197k
Base
$123k
Bonus
$34k
Other
$459
Benefits
$5k
Portfolio Executive
Highest Compensated Employee
25th percentile to median
$163k
$182k
Base
$129k
Bonus
$19k
Other
$413
Benefits
$430

Teal figures restate each filed amount in 2026 dollars.

Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Plus 10 unpaid individuals.

Funded by

Private foundations whose Form 990-PF Part XV grants matched this organization.

Up 2%
from 2022

From $566k in 2022 to $576k in 2023.

$566k
2022
$576k
2023
In today's dollarsEst.
Down 2% in real terms$654k to $643k

Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Pay for the position

Chief Executive Officer pay rose 2% from 2022 to 2023, while revenue fell 16%.

$566k in 2022 to $576k in 2023.
  • Vice President pay rose 18% from 2022 to 2023.
  • Highest Compensated Employee pay rose 3% from 2022 to 2023.

Pay for the position itself, not any one person. The officeholder may have changed between 2022 and 2023.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

INNOVATION WORKS INC reported revenue and expenses across 2 filing years.

RevenueExpenses
$15.8M
$15.9M
2022
$13.2M
$16.6M
2023
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about INNOVATION WORKS INC

What does the Chief Executive Officer of INNOVATION WORKS INC earn?

In 2023, the Chief Executive Officer of INNOVATION WORKS INC received $576,041 in total compensation. This pay is in the top 10% for Chief Executive Officer roles among nonprofits nationwide, across all sectors: at least 9 in 10 comparable filings report less. Based on IRS Form 990 data.

How does Chief Executive Officer pay at INNOVATION WORKS INC compare with similar nonprofits?

Compared with the same role at nonprofits nationwide, across all sectors, the 2023 pay of the Chief Executive Officer at INNOVATION WORKS INC falls in the top 10%.

What are INNOVATION WORKS INC's revenue and expenses?

In 2023, INNOVATION WORKS INC reported $13.2M in total revenue and $16.6M in total expenses on its IRS Form 990.

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