Innovation Works Inc
Innovation Works Inc is a public charity based in Pittsburgh, Pennsylvania, that supports early-stage technology startups. The organization says it provides funding, mentorship, and other resources to help companies develop and grow, with a focus on Southwestern Pennsylvania.
Innovation Works Inc at a glance
In short: Innovation Works Inc gave $444K across 10 grants in 2025 (avg $44K), mostly in Pennsylvania. 90% of 2025 grantees were new. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $444,355
- -14.2% vs 2024
- Grants made (2025)
- 10
- -23.1% vs 2024
- Average grant
- $44,436
- +11.6% vs 2024
- Median grant
- $25,000
- Total assets
- $45,646,740
- -0.3% vs 2024
- New grantees (estimate)
- 90% first-time grantees (9 of 10, 2025; small sample)
- Primary geography
- Pennsylvania (95% 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 Works Inc
- Contact
Mailing address: One Allegheny Sq Nova Tower 1 401, Pittsburgh, PA 15212
Phone: (412) 681-1520
Website: https://innovationworks.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Innovation Works Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Astria Biosciences Inc ($125K). Together the top 10 received $444K.
Grant Size Distribution
43 grants across all recorded years
The most common grant size was under $50K: 33 grants of 43 (77%).
Geographic Focus
Where this funder awards grants
Innovation Works describes its economic-development focus as Southwestern Pennsylvania. Its Scalable Grant eligibility criteria require the grantee or an eligible manufacturing partner to be based in Allegheny, Armstrong, Beaver, Butler, Fayette, Greene, Lawrence, Washington, or Westmoreland County. In filing year 2025, 95% of grant dollars went to Pennsylvania recipients and 5% to Ohio recipients.
Grant Distribution by State
Share of 2025 grant dollars across all 10 itemized grants.
States
Cities
Is Innovation Works Inc open to new grantees?
90%
first-time grantees, 2025
In 2025, 9 of 10 grantees (90%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. First grants averaged $47K; repeat grants $20K. How we count
Medians: $25K first-time, $20K 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 $46K (2022) to $624K (2020). In 2025 it made 10 grants totaling $444K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Astria Biosciences Inc Pittsburgh, PA | Award, Upprize ($125,000) | $125,000 |
| Pathvu Pittsburgh, PA | Award, Upprize ($100,000) | $100,000 |
| Bindr Inc York, PA | Award, Upprize ($75,000) | $75,000 |
| Journey Robotics Inc Mars, PA | Scaleable Manufacturing Grants ($25,000) | $25,000 |
| Near Earth Autonomy Inc Pittsburgh, PA | Scaleable Manufacturing Grants ($25,000.00) | $25,000 |
| S & K Cosmetics N Huntingdon, PA | Emerging Technology Assistance Program ($25,000) | $25,000 |
| Cell X Technologies Inc Cleveland, OH | Scaleable Manufacturing Grants ($22,585.62) | $22,586 |
| Leaficient Inc Evans City, PA | Scaleable Manufacturing Grants ($20,000) | $20,000 |
| Sealion Energy Inc Pittsburgh, PA | Scaleable Manufacturing Grants ($20,000.00) | $20,000 |
| Super Powers Mobility Inc New Kensington, PA | Scaleable Manufacturing Grants ($6,768.76) | $6,769 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $45,646,740 | $14,610,000 | $18,491,678 | $444,355 | 10 | $1,397,460 |
| 2024 | $45,772,445 | $13,218,069 | $16,611,674 | $517,664 | 13 | $724,374 |
| 2023 | $49,208,659 | $15,798,085 | $15,866,669 | $384,228 | 8 | $1,234,754 |
| 2022 | $48,998,670 | $24,072,729 | $10,978,543 | $46,393 | 3 | $481,904 |
| 2021 | $37,710,828 | $14,661,317 | $10,207,940 | $121,278 | 9 | $443,625 |
| 2020 | $31,593,952 | $8,003,735 | $10,531,596 | $623,739 | 17 | $384,241 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
Innovation Works states that its mission is to invest in people and businesses that drive innovation and Southwestern Pennsylvania’s economic growth. Its 2024 filing describes its mission as increasing the success rate of the region’s technology and technology-adopting companies through direct investment, business assistance, and infrastructure development.
The organization’s website describes support for startups in areas including software, hardware, life sciences, robotics, and advanced manufacturing. Its funding programs include AlphaLab, a startup accelerator; a seed fund; and Riverfront Ventures, which co-invests with venture firms. Manufacturing assistance includes Scalable Grants, which reimburse eligible expenses for hardware startups working with Pennsylvania-based manufacturers and suppliers.
Grantmaking
In filing year 2025, Innovation Works reported 10 grants totaling $444,355. Grant amounts ranged from $6,769 to $125,000, with a median of $25,000. The largest grants included $125,000 to Astria Biosciences Inc and $100,000 to PathVu, both in Pittsburgh, and $75,000 to Bindr Inc in York. The filing lists the first three as UpPrize awards. Other listed grants included $25,000 to Journey Robotics Inc and $25,000 to Near Earth Autonomy Inc for Scalable Manufacturing Grants.
For its Scalable Grant Program, Innovation Works describes an application process that begins with a project submission. The organization works with the applicant to draft a proposal covering the scope of work, timeline, vendors, reimbursement maximum, and cost estimates; the Investment Committee must approve the proposal before it is contracted. The program reimburses 50% of eligible expenses, up to the grant cap of $25,000. Applicants must be Pennsylvania-based businesses and designate eligible manufacturing partners; the grantee or a partner must be based in one of nine specified southwestern Pennsylvania counties. The website also states that applicants must identify eligible expenses exceeding twice the reimbursement cap. Innovation Works’ 2024 filing says its employees work directly with grantees throughout the grant and require final financial and progress reports.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Tom Jones as board chair. It also lists Rob A. Rutenbar, Steven Reis, Jimmy Williams, and Ron Bianchini Jr. as board members. Stephen Chen and David Roger are listed as board members as of October 2024. Joe Ferrara and Donna Myers are listed as board members through December 2024, and William Sanders through June 2025.
Innovation Works Inc is led by Richard R. Lunak, Former President & CEO since 2024 (on filings since 2020); 11 of 22 officers listed in 2025 are compensated.
Officers on the 2025 filing
Richard R. Lunak
Former President & CEO
President & CEO → Former President & CEO, 2024
On filings since 2020
10 hrs/week
$408K (2020) → $130K (2025)
Ven Raju
President & CEO
Vice President, Treasurer & CIO → President & CEO, 2023
On filings since 2022
40 hrs/week
$121K (2022) → $570K (2025)
Tom Jones
Board Chair
Board Member → Board Chair, 2024
On filings since 2020
2.5 hrs/week
No compensation reported
Aaron Tainter
Director of Accelerator Programs
On filings since 2024
40 hrs/week
$170K (2024) → $197K (2025)
Jeffery McDaniel
Portfolio Executive
On filings since 2020
40 hrs/week
$185K (2020) → $215K (2025)
Robert Starzynski
Vice President Business Development & Treasurer
Vice President & Business Development → Vice President of Business Development & Treasurer, 2023
Vice President of Business Development & Treasurer → Vice President Business Development & Treasurer, 2024
On filings since 2020
40 hrs/week
$171K (2020) → $252K (2025)
Afshan Khan
Portfolio Executive
On filings since 2022
40 hrs/week
$169K (2022) → $198K (2025)
Kelley Benson
Vice President Hr & Inclusion
Vice President, Human Resources & Inclusion → Vice President Human Resources & Inclu, 2023
Vice President Human Resources & Inclu → Vice President Hr & Inclusion, 2024
On filings since 2022
40 hrs/week
$177K (2022) → $229K (2025)
Kelli McMurray
Secretary & Controller
On filings since 2023
40 hrs/week
$130K (2023) → $180K (2025)
Kirk Botula
Vice President & Csoo
On filings since 2023
40 hrs/week
$253K (2024) → $387K (2025)
Deborah Walker
Senior Legal Counsel
On filings since 2024
40 hrs/week
$190K (2024) → $220K (2025)
Kevin Dowling
Portfolio Executive
New on the 2025 filing
40 hrs/week
$251K (2025)
Donna Myers
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
Jimmy Williams
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
Joe Ferrara
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
Steven Reis
Board Member
On filings since 2020
0.8 hrs/week
No compensation reported
Rob A. Rutenbar
Board Member
On filings since 2021
0.8 hrs/week
No compensation reported
William Sanders
Board Member
On filings since 2023
0.8 hrs/week
No compensation reported
Ron Bianchini Jr.
Board Member
On filings since 2024
0.8 hrs/week
No compensation reported
Carl Daley
Board Member
New on the 2025 filing
0.8 hrs/week
No compensation reported
David Roger
Board Member
New on the 2025 filing
0.8 hrs/week
No compensation reported
Stephen Chen
Board Member
New on the 2025 filing
0.8 hrs/week
No compensation reported
Former officers (16)
- Former: Catherine Mott (2020–2024) — Board Chair · Filing note: Thru 12/2023
- Former: Jim Jen (2020–2024) — Former Vice President & COO
- Former: Rebecca Doerge (2020–2024) — Board Member
- Former: Terri Glueck (2020–2024) — Vice President of Communications & Community Development · Filing note: Thru 124
- Former: Cigdem Hajipouran Benam (2024) — Portfolio Executive
- Former: Juan Garrett (2020–2023) — Board Member
- Former: Robert A. Rutenbar (2020–2023) — Board Member
- Former: Susan Kijowski (2020–2023) — Secretary & Controller
- Former: James Wrubel (2021–2023) — Portfolio Executive
- Former: Megan Shaw (2022–2023) — Portfolio Executive
- Former: Michael Formica (2023) — Portfolio Executive
- Former: Gary Glausser (2020–2022) — Vice President, Treasurer & CIO
- Former: Larry Miller (2022) — Portfolio Executive
- Former: Louis Miller Jr. (2020–2021) — Managing Director of Life Sciences
- Former: Ilana Diamond (2020) — Managing Director of Hardware & Alphalab Gear
- Former: Ron Davenport (2020) — Board Member
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 $570K, to Mr VEN Raju (President & CEO). 11 officers or directors reported compensation on that filing.
Frequently asked questions about Innovation Works Inc
How much does Innovation Works Inc give each year?
Innovation Works Inc gave $444K across 10 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $518K across 13 grants.
What is Innovation Works Inc's typical grant size?
Innovation Works Inc's median grant in 2025 was $25,000, and its average grant was $44,436, across 10 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Innovation Works Inc that year got $47K on average.
Where does Innovation Works Inc give grants?
Innovation Works Inc gives mostly in Pennsylvania: 95% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The next largest state was Ohio (5%). The most frequent recipient cities were Pittsburgh, PA (4 grants).
Does Innovation Works Inc give general operating support?
Not in 2025: none of the 10 grants with a stated purpose on Innovation Works Inc's 2025 IRS Form 990 were described as general or operating support.
Who are Innovation Works Inc's largest grantees?
Innovation Works Inc's largest 2025 grantees include Astria Biosciences Inc ($125,000), Pathvu ($100,000) and Bindr Inc ($75,000), according to its 2025 IRS Form 990. Together they received 68% of its itemized 2025 grant dollars.
How large is Innovation Works Inc?
Innovation Works Inc reported $45.6M in total assets on its 2025 IRS Form 990. Its revenue that year was $14.6M.
What does Innovation Works Inc fund?
Innovation Works states that its mission is to invest in people and businesses that drive innovation and Southwestern Pennsylvania’s economic growth. See mission & focus areas ↑
How do I apply for a grant from Innovation Works Inc?
Innovation Works Inc has no public application process in the sources Grantable reviewed. Check innovationworks.org for current guidelines, or contact the foundation directly before submitting a request.
What is Innovation Works Inc's EIN?
Innovation Works Inc's EIN (Employer Identification Number) is 25-1588611. IRS Form 990 filing data is available on this page for 2020–2025.
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 May 14, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 13, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 15, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2020–2024
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Innovation Works Inc down — hundreds of funders to go?