Innovation Fund America Inc
Innovation Fund America Inc is a public charity based in Elyria, Ohio. It supports early-stage technology startups through pre-seed funding, education, and mentoring, with a stated emphasis on helping entrepreneurs develop their businesses and providing educational opportunities for students.
Innovation Fund America Inc at a glance
In short: Innovation Fund America Inc gave $1.7M across 16 grants in 2025 (avg $107K), mostly in Ohio. 88% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $1,715,000
- +128.7% vs 2024
- Grants made (2025)
- 16
- +128.6% vs 2024
- Average grant
- $107,188
- +0.0% vs 2024
- Median grant
- $140,000
- Total assets
- $68,071
- +3443.5% vs 2024
- New grantees (estimate)
- 88% first-time grantees (14 of 16, 2025; small sample)
- Primary geography
- Ohio (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Innovation Fund America Inc
- Accepts unsolicited proposals
- Yes
- How to Apply
-
The website says it accepts unsolicited requests, with applications available on an ongoing basis. Applicants must first attend a required information session, then submit business and financial materials. The process includes evaluation by screening and due-diligence committees. The website lists Ohio location and continued Ohio headquarters, development of new technology in high-growth industries, proof-of-concept or startup stage, a student or faculty educational experience, mentoring through GLIDE or a regional partner, a dollar-for-dollar match, and agreement to a convertible-debt instrument among its requirements. It also says awards are tied to project milestones. The application page lists January 1, 2024, as the application deadline; that date is past. The information-session page says no sessions are currently scheduled.
- Contact
Mailing address: 1005 North Abbe Road Cc220, Elyria, OH 44035
Phone: (440) 366-4274
Website: https://innovationfundamerica.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
2 open opportunities from Innovation Fund America Inc
Who Innovation Fund America Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Bailout Systems Inc ($150K). Together the top 10 received $1.4M.
Grant Size Distribution
65 grants across all recorded years
The most common grant size was in the $100–250K range: 28 grants of 65 (43%).
Geographic Focus
Where this funder awards grants
The 2025 filing reports that all grant dollars went to recipients in Ohio. The website describes the pre-seed fund as serving early-stage companies within 21 counties of Northeast Ohio, and it states that eligible applicants must be located, or willing to locate, in Ohio and maintain headquarters there.
Grant Distribution by State
Share of 2025 grant dollars across all 16 itemized grants.
Cities
Is Innovation Fund America Inc open to new grantees?
88%
first-time grantees, 2025
In 2025, 14 of 16 grantees (88%) were first-time recipients. With only 16 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $101K; repeat grants $150K. How we count
Medians: $108K first-time, $150K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $325K (2022) to $1.7M (2023). In 2025 it made 16 grants totaling $1.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Bailout Systems Inc Euclid OH, OH | Start-up Funding | $150,000 |
| Bowerbags LLC Dayton OH, OH | Start-up Funding | $150,000 |
| MIC Monitor LLC -DBA Corrolytics Copley OH, OH | Start-up Funding | $150,000 |
| Symphony Robotics Highland Heights OH, OH | Start-up Funding | $150,000 |
| Neoindicate LLC Wellington OH, OH | Start-up Funding | $150,000 |
| Courtesy Cups LLC North Canton OH, OH | Start-up Funding | $150,000 |
| Logically Engineered Automation Features Ltd Stow, OH | Start-up Funding | $150,000 |
| Cyngusmed Inc Akron, OH | Start-up Funding | $140,000 |
| Sensate Biosystems Elyria, OH | Start-up Funding | $140,000 |
| Lighthanded Enterprises LLC Cleveland OH, OH | Start-up Funding | $75,000 |
Ready to take the next step with Innovation Fund America Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $68,071 | $50,000 | $1,792,775 | $1,715,000 | 16 | — |
| 2024 | $1,921 | $75,113 | $822,179 | $750,000 | 7 | $50,113 |
| 2023 | $51,629 | $25,000 | $1,847,538 | $1,745,000 | 19 | — |
| 2022 | $210,364 | $25,000 | $438,061 | $325,000 | 4 | — |
| 2021 | $6,565 | — | $911,813 | $718,000 | 19 | — |
| 2020 | $236,691 | — | $1,061,224 | $862,789 | 25 | — |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The organization’s stated mission is to accelerate the growth of technology startups through early-stage funding and education in partnership with community colleges. Its 2024 filing describes broader aims that include educating students and entrepreneurs, stimulating economic development, and fostering employment opportunities in the communities it serves.
The funder says its awards support new technology in high-growth industries. Its website describes two award stages: “A” awards of up to $50,000 for late-imagining-stage opportunities, such as finalizing prototypes or conducting research and testing, and “B” awards of up to $150,000 for incubating companies working to validate a business concept. The available grant information identifies recipients as businesses and limited liability companies receiving start-up funding.
Grantmaking
In filing year 2025, the organization reported 16 grants totaling $1,715,000. Grant amounts ranged from $50,000 to $150,000, with a median of $140,000.
Among the largest reported grants were $150,000 each to Bailout Systems Inc. of Euclid, BowerBags LLC of Dayton, MIC Monitor LLC (doing business as Corrolytics) of Copley, Symphony Robotics of Highland Heights, NeoIndicate LLC of Wellington, Courtesy Cups LLC of North Canton, and Logically Engineered Automation Features Ltd. of Stow. Each was listed for start-up funding. Other listed grants included $140,000 each to CyngusMed Inc. of Akron and Sensate Biosystems of Elyria, and $75,000 to Lighthanded Enterprises LLC of Cleveland.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Dr. Roy A. Church as president and chair; Dr. Marcia J. Ballinger as vice president; Dennis Cocco, Tracy Green, Jon Volpe, and Jim Walborn as directors; Julie Strazzo as secretary; and Joseph Martin as treasurer.
Innovation Fund America Inc's 2025 filing lists 8 officers; 1 of 8 officers listed in 2025 is compensated.
Officers on the 2025 filing
DR ROY A Church
President & Chair
On filings since 2020
0.3 hrs/week
No compensation reported
Dennis Cocco
Director
On filings since 2020
0.3 hrs/week
No compensation reported
Tracy Green
Director
On filings since 2020
0.3 hrs/week
No compensation reported
Jim Walborn
Director
On filings since 2022
0.3 hrs/week
No compensation reported
Jon Volpe
Director
On filings since 2022
0.3 hrs/week
No compensation reported
Joseph Martin
Treasurer
On filings since 2020
5 hrs/week
$2K (2020) → $16K (2025)
Julie Strazzo
Secretary
On filings since 2020
0.3 hrs/week
No compensation reported
Marcia J. Ballinger
Vice President
On filings since 2020
0.3 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $16K, to Joseph Martin (Treasurer).
Frequently asked questions about Innovation Fund America Inc
How much does Innovation Fund America Inc give each year?
Innovation Fund America Inc gave $1.7M across 16 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $750K across 7 grants.
What is Innovation Fund America Inc's typical grant size?
Innovation Fund America Inc's median grant in 2025 was $140,000, and its average grant was $107,188, across 16 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Innovation Fund America Inc that year got $101K on average.
Where does Innovation Fund America Inc give grants?
Innovation Fund America Inc gives mostly in Ohio: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Akron, OH (2 grants).
Does Innovation Fund America Inc give general operating support?
Not in 2025: none of the 16 grants with a stated purpose on Innovation Fund America Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Start-up Funding" (16 grants).
Who are Innovation Fund America Inc's largest grantees?
Innovation Fund America Inc's largest 2025 grantees include Bailout Systems Inc ($150,000), Bowerbags LLC ($150,000) and MIC Monitor LLC -DBA Corrolytics ($150,000), according to its 2025 IRS Form 990. Together they received 26% of its itemized 2025 grant dollars.
How large is Innovation Fund America Inc?
Innovation Fund America Inc reported $68K in total assets on its 2025 IRS Form 990. Its revenue that year was $50K.
What does Innovation Fund America Inc fund?
The organization’s stated mission is to accelerate the growth of technology startups through early-stage funding and education in partnership with community colleges. See mission & focus areas ↑
How do I apply for a grant from Innovation Fund America Inc?
The website says it accepts unsolicited requests, with applications available on an ongoing basis. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Innovation Fund America Inc's EIN?
Innovation Fund America Inc's EIN (Employer Identification Number) is 46-1761848. IRS Form 990 filing data is available on this page for 2020–2025.
Does Innovation Fund America Inc accept unsolicited proposals?
Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS February 24, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS June 10, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS June 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS June 12, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS June 12, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS June 9, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Innovation Fund America Inc funds
Community Improvement & Capacity Building Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Innovation Fund America Inc's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Irving and Bernice Singer Family Foundation
Manchester, NH
In 2024, the New Hampshire foundation gave $45,108 in two grants, both to Temple Israel in Manchester, and reported that it had distributed its remaining assets and would terminate. Its final-year grants averaged $22,554; it supported organizations in New Hampshire and accepted only requests from preselected charities, not unsolicited applications.
Assets
—
Grants
2
Total Given
$45K
The Patricia H Snyder Family Foundation
Evansville, IN
The Patricia H Snyder Family Foundation supports schools, youth programs, faith-based organizations, human services, and the arts, primarily in Indiana, with smaller amounts going to organizations in other states. Its 2025 grants ranged from $2,500 to $350,000, with a median of $10,000. It does not accept unsolicited requests and gives only to preselected organizations.
Assets
$6.3M
Grants
19
Total Given
$720K
Liberty Mutual Foundation Inc
Boston, MA
Liberty Mutual Foundation funds basic needs such as food and shelter, education and workforce development, and climate and community infrastructure, including homelessness and community preparedness programs. Its 2024 grants had a median of $35,000, and most funding supports organizations or programs serving the Boston area, though it also gives elsewhere. It accepts unsolicited online requests on a rolling basis, with no submission deadlines.
Assets
$46.1M
Grants
706
Total Given
$50.6M
Bangor Savings Bank Foundation
Bangor, ME
The Bangor Savings Bank Foundation supports arts and culture, economic and workforce development, education, health and wellness, and social and community services, including affordable housing and health care. It focuses on Maine, New Hampshire, and Essex County, Massachusetts; 2025 grants ranged from $1,000 to $50,000, with a median of $4,750. It accepts applications through an online portal, with applications reviewed twice a year.
Assets
$7.0M
Grants
156
Total Given
$1.2M
The Henderson Family Foundation Trust
Londonderry, NH
The Henderson Family Foundation Trust funds charitable organizations in New Hampshire, including public media, historical education, scholarships, and community programs. In 2026, it made 13 grants totaling $32,700, ranging from $500 to $10,000, with a median of $1,200. It accepts no unsolicited requests and gives only to preselected organizations.
Assets
$618K
Grants
13
Total Given
$33K
Martin I Elkin and Pauline G Elkin Charitable Trust
New Castle, NH
The foundation’s final 2022 filing says it supported qualified tax-exempt organizations benefiting children, principally located in New Hampshire, with grants listed for health and education. Its 12 grants ranged from $1,000 to $505,000, with a median of $3,000; the filing says written applications were accepted, but it is marked as the foundation’s final return, so these instructions may no longer be current.
Assets
—
Grants
12
Total Given
$1.1M
More similar funders
More Funders in Ohio
The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from Innovation Fund America Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Innovation Fund America Inc down — hundreds of funders to go?