EIN 90-0176361

Octane Foundation for Innovation (OFI)

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2004
Most recent tax filings
2022-12-01
Description
Octane Foundation for Innovation (Ofi) is targeted to advance equity, diversity, and inclusiveness across all industry sectors with the mission of growing & strengthening the southern California Innovation ecosystem by creating jobs, scaling startups,...
Related structure
OFI is a subordinate organization under Orange County Technology Action Network Octane (OCTANE).
Total revenues
$1,059,886
2022
Total expenses
$1,294,568
2022
Total assets
$1,259,116
2022
Num. employees
0
2022

Program areas at OFI

Octane Foundation for Innovation: the mission of this 501(c)(3) charity is to develop a robust environment for biomedical and information technology growth by advancing Innovation and entrepreneurship in orange county. Key initiatives include the promotion, development and recognition of Innovation, and the education, skills development and mentoring of entrepreneurs.launchpad sbdc: accelerates entrepreneurs and start-ups through a comprehensive program that quickly identifies and connects great people, capital and technology. Launchpad provides critical, individualized and value-added support to early stage biomedical and information technology companies through mentoring, coaching, and education. The launchpad sbdc is hosted by Octane Foundation for Innovation and is funded in part through a cooperative agreement with the u.s. small business administration and California state university fullerton and extended to the public on a non-discriminatory basis. Launchpad sbdc is part of the orange county/inland empire regional sbdc network. Orange county technology action network (dba octane)contributes a 100% cash match, along with sbdc/sba, to any expenses incurred through this contract.non-profit accelerator: the non-profit accelerator provides non-profits with the tools they need to expand their impact in the community, specifically those non-profits that serve under-represented people in steam and healthcare. By adapting Octane's award-winning launchpad sbdc evaluation process, non-profits receive a similar evaluation of their organization and expert advice. The graduates of the non-profit accelerator emerge more empowered and capable of improving the lives and communities of the people they serve.women leaders of Octane: the purpose of women leaders of Octane (wlo) is to grow the strength and impact of the oc Innovation ecosystem by increasing the ranks of women entrepreneurs and business leaders, access to funding, and more influence on boards, fueled by Octane networks and resources.steam fellows: the steam fellows program provides practical, real-world experiences that encourage students to learn and explore jobs, careers, and entrepreneurship opportunities. This experience delivers an interactive program that fosters career and workplace readiness and inspires an inter-generational culture of purposeful leadership. Participation includes access to Octane medtech and tech events, subject matter experts, webinars, and invitations to partner events opening the door to orange county's Innovation ecosystem.next wave leaders: the next wave initiative is designed to recruit and engage new generations of industry and community leadership in the continuous development and responsible growth of the orange county Innovation ecosystem. In addition to contributing to the quality of the live/work experience, this initiative seeks to inspire the next generation of industry leadership to a purpose-driven, intentional leadership culture that will strengthen and distinguish orange county and position it to compete favorably for retaining and attracting talent.

Who funds Octane Foundation for Innovation (OFI)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
The Samueli FoundationHealth$333,000
Edwards Lifesciences FoundationNon-Profit Accelerator (Npa) & Npa 2.0 Building Capacity, Improving Sustainability and Increasing Community Impact$75,000
National Philanthropic TrustPublic, Societal Benefit$12,000
...and 1 more grant received

Personnel at OFI

NameTitleCompensation
Bill CarpouChief Executive Officer
William CarpouPresident and Chief Executive Officer$0
Janelle BrunetteChief Operating Officer
David BeckVice President, Octane Capital and Growth
Cara DavidoffManaging Director, Next Wave
...and 14 more key personnel

Financials for OFI

RevenuesFYE 12/2022
Total grants, contributions, etc.$1,059,886
Program services$0
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,059,886

Form 990s for OFI

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-11-15990View PDF
2020-122021-11-12990View PDF
2019-122021-04-01990View PDF
2018-122020-02-07990View PDF
...and 9 more Form 990s
Data update history
January 7, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 6, 2024
Updated personnel
Identified 2 new personnel
December 23, 2023
Received grants
Identified 3 new grant, including a grant for $75,000 from Edwards Lifesciences Foundation
July 17, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 5, 2023
Updated personnel
Identified 2 new personnel
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsChapter / child organizationsCharities
Issues
Business and industry
Characteristics
Political advocacyState / local levelReceives government fundingManagement and technical assistanceCommunity engagement / volunteeringTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
4041 Macarthur Blvd 260
Newport Beach, CA 92660
Metro area
Los Angeles-Long Beach-Anaheim, CA
County
Orange County, CA
Website URL
octaneoc.org/mission/#ofi 
Phone
(949) 330-6569
IRS details
EIN
90-0176361
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2004
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Subordinate organization
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