Innovate First Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $281K in total assets. In 2024, it awarded 1 grants totaling $12K. Net investment income was $29.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$281K
+20.6% YoY
Annual Giving
$12K
+20.0% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$12K
+20.0% YoY
Under IRS private-foundation payout rules, Innovate First Inc reported a distributable amount of $14K for 2024 — the minimum it must pay out in qualifying distributions.
About Innovate First Inc
Based on IRS filings
Innovate First Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $281K in total assets. In 2024, it awarded 1 grants totaling $12K. Net investment income was $29.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $280,797 | $232,803 | $205,844 |
| Revenue | $60,029 | $37,024 | $22 |
| Expenses | $12,035 | $10,065 | $12,033 |
| Qualifying Distributions | $12,000 | $10,000 | $12,000 |
| Net Investment Income | $29 | $24 | $22 |
| Distributable Amount | $14,273 | $11,863 | $10,704 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
4 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Long Bow Group Inc ($12,000).
| Recipient | Purpose | Amount |
|---|---|---|
| LONG BOW GROUP INC NEWTON, MA | PROVIDE SUPPORT FOR PRODUCTION OF EDUCATIONAL MEDIA. | $12,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WAYNE D BENNETT | PRESIDENT, DIRECTOR | 1 | — |
| PETER J GILMAN | TREASURER, DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Innovate First Inc?
Innovate First Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BOSTON, MA. It holds $281K in total assets as of 2024.
How large is Innovate First Inc?
As of 2024, Innovate First Inc holds $281K in total assets with $60K in annual revenue. It awarded 1 grants totaling $12K in 2024.
Where does Innovate First Inc operate?
Innovate First Inc has awarded grants in Massachusetts.
What size grants does Innovate First Inc award?
In 2024, Innovate First Inc awarded 1 grants totaling $12K — an average of about $12K per grant, based on its IRS Form 990 filings.
How much is Innovate First Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Innovate First Inc reported a distributable amount of $14K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Innovate First Inc's EIN?
Innovate First Inc's EIN (Employer Identification Number) is 20-3985485. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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