Innovation Works Inc
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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$45.8M
-7.0% YoY
Annual Giving
$518K
+34.7% YoY
Grant Count
13
+62.5% YoY
Avg Grant Size
$40K
-17.1% YoY
About Innovation Works Inc
Based on IRS filings
Innovation Works Inc is a nonprofit organization, based in PITTSBURGH, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $45.8M in total assets. In 2024, it awarded 13 grants totaling $518K. Net investment income was $724K.
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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 | $45,772,445 | $49,208,659 | $48,998,670 |
| Revenue | $13,218,069 | $15,798,085 | $24,072,729 |
| Expenses | $16,611,674 | $15,866,669 | $10,978,543 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $724,374 | $1,234,754 | $481,904 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
50 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MS CATHERINE MOTT THRU 1223 | BOARD CHAIR | 2.5 | — |
| MR ROB A RUTENBAR | BOARD MEMBER | 0.75 | — |
| DR STEVEN REIS | BOARD MEMBER | 0.75 | — |
| MR JOE FERRARA | BOARD MEMBER | 0.75 | — |
| MS DONNA MYERS | BOARD MEMBER | 0.75 | — |
| MR JIMMY WILLIAMS | BOARD MEMBER | 0.75 | — |
| MR WILLIAM SANDERS | BOARD MEMBER | 0.75 | — |
| MR TOM JONES | BOARD CHAIR (AS OF 1/24) | 2.5 | — |
| MR RON BIANCHINI JR | BOARD MEMBER (AS OF 1/24) | 0.75 | — |
| MS REBECCA DOERGE | BOARD MEMBER (THRU 7/23) | 0.75 | — |
| MR VEN RAJU | PRESIDENT & CEO | 40 | $524,732 |
| MR KIRK BOTULA | VP & CSOO | 40 | $253,489 |
| MS KELLI MCMURRAY | SECRETARY & CONTROLLER | 40 | $157,479 |
| MS KELLEY BENSON | VP HR & INCLUSION | 40 | $217,606 |
| MS TERRI GLUECK THRU 124 | VP OF COMMUNICATION & COMMUNITY DEV. | 40 | $205,960 |
| MR ROBERT STARZYNSKI | VP BUSINESS DEV. & TREASURER | 40 | $231,272 |
| MS AFSHAN KHAN | PORTFOLIO EXECUTIVE | 40 | $190,444 |
| MR JEFFERY MCDANIEL | PORTFOLIO EXECUTIVE | 40 | $207,962 |
| MR AARON TAINTER | DIRECTOR OF ACCELERATOR PROGRAMS | 40 | $169,626 |
| MS DEBORAH WALKER | SR. LEGAL COUNSEL | 40 | $189,747 |
| MS CIGDEM HAJIPOURAN BENAM | PORTFOLIO EXECUTIVE | 40 | $148,114 |
| MR RICHARD R LUNAK | FORMER PRESIDENT & CEO | 40 | $218,638 |
| MR JIM JEN | FORMER VP & COO | 40 | $320,952 |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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