Innovation Fund America Inc
Innovation Fund America Inc. is a public charity based in Elyria, Ohio. It provides early-stage funding and education to help technology startups grow, with its funder website describing its focus as the Northeast Ohio startup community.
Key facts about Innovation Fund America Inc
In short: Innovation Fund America Inc gave $1.7M across 16 grants in 2025 (avg $107K), mostly in Ohio. 94% of 2025 grantees were new. Source: 2025 IRS Form 990.
- EIN
- 46-1761848
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $1,715,000
- Grants made (2025)
- 16
- Average grant
- $107,188
- Median grant
- $140,000
- New grantees (estimate)
- 94% first-time grantees (15 of 16, 2025)
- Total assets
- $68,071
- Primary geography
- Ohio (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$68K
+3443.5% YoY
Annual Giving
$1.7M
+128.7% YoY
Grant Count
16
+128.6% YoY
Avg Grant Size
$107K
+0.0% YoY
Is Innovation Fund America Inc open to new grantees?
94%
first-time grantees, 2025
In 2025, 15 of 16 grantees (94%) were first-time recipients. First grants averaged $104K; repeat grants $150K. How we count
Medians: $140K 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.
Mission & Focus Areas
The organization’s stated mission is to partner with community colleges to accelerate technology startups through early-stage funding and education. Its 2024 filing describes programs intended to educate students and entrepreneurs, support employment and economic development in selected communities, and provide advisory assistance to entrepreneurial businesses.
The funder’s website says it supports early-stage companies developing new technology in high-growth industries. Its A Awards support proof-of-concept work, such as completing prototypes, testing, and patent filing; B Awards support business-concept validation, including market testing, business-plan development, and hiring. The organization’s website identifies students’ educational experiences as part of its model.
Grantmaking
In filing year 2025, Innovation Fund America reported 16 grants totaling $1,715,000. Grant amounts ranged from $50,000 to $150,000, with a median of $140,000. The filing lists these notable awards, each for “start-up funding”: $150,000 to Bailout Systems Inc., Bowerbags LLC, MIC Monitor LLC (doing business as Corrolytics), Symphony Robotics, Neoindicate LLC, Courtesy Cups LLC, and Logically Engineered Automation Features Ltd.; and $140,000 to CyngusMed Inc. and Sensate Biosystems. All reported 2025 grant dollars went to recipients in Ohio.
Review Cycle
; these dates are past. The information-session page says there are no upcoming sessions scheduled.
How to Apply
described on the website begins with a required Innovation Fund 101 information session, followed by an application addressing business and financial requirements. The website says applicants who are not yet ready may work with a regional entrepreneur-in-residence and reapply. The application page lists January 1, 2024 dates for opening, financial requirements, and the application deadline; these dates are past. The information-session page says there are no upcoming sessions scheduled.
Open Grants
2 open opportunities from Innovation Fund America Inc
Ready to take the next step with Innovation Fund America Inc?
Geographic Focus
Where this funder awards grants
The funder’s website describes its focus as Northeast Ohio and says the program serves companies within 21 counties. Applicants must be located in Ohio and remain there, with the FAQ specifying that headquarters must be maintained in the state. The 2025 filing reports that all grant dollars went to Ohio recipients.
Grant Distribution by State
Share of all 16 itemized 2025 grant dollars.
Cities
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.
Grant Insights
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%).
Giving History
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 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $68,071 | $50,000 | $1,792,775 | $1,715,000 (16) |
| 2024 | $1,921 | $75,113 | $822,179 | $750,000 (7) |
| 2023 | $51,629 | $25,000 | $1,847,538 | $1,745,000 (19) |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $68,071 | $1,921 | $51,629 |
| Revenue | $50,000 | $75,113 | $25,000 |
| Expenses | $1,792,775 | $822,179 | $1,847,538 |
| Net Investment Income | — | $50,113 | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2025 (received by the IRS June 9, 2026)
- IRS filings on file for fiscal years 2020–2024
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; Julie Strazzo as secretary; Joseph Martin as treasurer; and Dennis Cocco, Tracy Green, Jon Volpe, and Jim Walborn as directors.
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).
Contact
Mailing address: 1005 North Abbe Road Cc220, Elyria, OH 44035
Phone: (440) 366-4274
Website: https://innovationfundamerica.org
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 $104K 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 partner with community colleges to accelerate technology startups through early-stage funding and education. See mission & focus areas ↑
How do I apply for a grant from Innovation Fund America Inc?
In filing year 2025, Innovation Fund America reported 16 grants totaling $1,715,000. Grant amounts ranged from $50,000 to $150,000, with a median of $140,000.
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.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
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